ITR Filing: The government has recently extended the last date for filing Income Tax Return (ITR) for the financial year 2024-25 i.e. assessment year 2025-26. Now taxpayers can file their ITR by 15 September 2025 instead of 31 July 2025.
ITR Filing: The government has recently extended the last date for filing Income Tax Return (ITR) for the financial year 2024-25 i.e. assessment year 2025-26. Now taxpayers can file their ITR by 15 September 2025 instead of 31 July 2025. Now a big question arises that what about paying self-assessment tax? Has its date also been extended or not?
Here first of all it is important to understand why the Income Tax Department has extended the last date for ITR filing. This decision has been taken keeping in mind the major changes in the income tax forms and the process of data matching (re-conciliation). Here it has to be kept in mind that only the last date for filing ITR has been extended, not for depositing tax.
No change in the deadline for filing tax
The deadline for filing ITR has been extended, but the deadline for filing Self-Assessment Tax will still be 31 July 2025. Let us tell you that Self-Assessment Tax is the tax that remains after advance tax and TDS deduction. If a taxpayer deposits tax after 31 July 2025, then interest will be charged on it under section 234A, even if he files ITR by the extended date i.e. 15 September 2025.
What will happen if tax is not paid on time?
If tax is not paid on time, action can be taken against you under two sections. The first is section 234A, under which interest will be charged as a penalty if tax or ITR is filed late. The second is section 234B, under which interest will be charged even if the advance tax is less than 90% of the total tax.
CBDT is currently working on a system update so that automatic interest calculation can be done, but paying tax on time is the best way to avoid additional charges.
Taxpayers should not wait till the last minute to file ITR. Filing returns early will reduce the crowd on the portal and also avoid technical problems. Also, the chances of error will also be reduced due to the new capital gains reporting and TDS matching.
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