Do you also have to fill the return by 15 September? Understand the whole matter:

News India Live, Digital Desk: Last Date for ITR Filing: As soon as it comes to filing income tax returns (ITR), the date of July 31 comes to the minds of most people. But do you know that the last date for filing returns for some taxpayers is approaching? Yes, the deadline to file income tax returns for financial year 2024-25 (Assessment Year 2025-26) is September 15, 2025, but it is not for all.

So let us understand in easy language that who have to take this date seriously and what can happen when late.

Who is to fill ITR till 15 September?

This deadline is mainly for those individual taxpayers and Hindu undivided families (HUFs) who do not need to audit their accounts. This year, the government had extended the last date of 31 July for general taxpayers to 15 September in view of some major changes in ITR forms and new filing systems. So if you are a salary employee, or you have a small business whose audit is not necessary, then the last chance for you is 15 September.

What will happen if the date of September 15 has gone?

If you miss this deadline, then there is no need to panic, but the burden on your pocket can definitely increase.[1] The returns filed after September 15 will be considered as ‘Belted ITR’ i.e. delayed returns and for this you will have to pay a penalty.

• How much will be the penalty: According to Section 234F of the Income Tax Act, a late ITR filed can be fined up to Rs 5,000.
• Relief for small taxpayers: If your total taxable income is up to Rs 5 lakh, then this penalty is reduced to Rs 1,000.
• Interest will also have to be paid: Apart from penalty, if you have a tax outstand, then you will also have to pay interest on it.

Why is it necessary to fill ITR?

Some people feel that if their income does not come under the scope of tax, then what is the need to fill ITR. But there are some conditions in which it becomes mandatory to file ITR even if there is less income, such as:

• If you have spent more than 2 lakh rupees on travel abroad.
• If you have filled electricity bill of more than 1 lakh rupees in a year.
• If you have deposited more than 1 crore rupees in your current account.

Filing ITR on time is not only a legal responsibility, but also beneficial for you. This is a strong evidence of your financial credibility, which is very useful while applying loan, credit card or visa. Therefore, if you have not yet filled your ITR, then definitely do this work before September 15