ITR Filing Update : In the year 2025, the government extended the ITR filing deadline for taxpayers not once, but twice. In the first year, the deadline for filing Income Tax Returns (ITR) was extended from July 31st to September 15th, and then by one more day to September 16th, 2025.
Taxpayers were given ample time to file their returns this time. However, there were difficulties in filing returns this time. If you are unable to file your ITR for any reason, you can file your return by December 31st, 2025.
Meanwhile, the deadline for filing tax audit reports has been extended from September 30 to October 31, 2025. For those subject to tax audits, the ITR filing deadline is limited to the date of the tax audit report. Therefore, if you miss this belated ITR filing deadline, you’ll be stuck.
If you haven’t filed your ITR yet, it’s not just a formality but an essential document linked to your financial records. The tax department has complete information about your income through your bank transactions, TDS, AIS, and other reports. If your income is above the tax slab and you haven’t filed your return, the department may view it as income concealment. If the tax department discovers your undeclared income, penalties of 100% to 300% may be imposed. In serious cases, prosecution, or legal action, may also be taken.
Not filing your ITR also impacts your credit profile. Banks, NBFCs, and embassies consider your ITR a reliable financial document for loans and visas. Without an ITR, you may face difficulties applying for a home loan, car loan, personal loan, or visa. If you don’t file your ITR, you won’t be able to offset your capital losses or business losses in future years.