North India Statesman
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Income tax return: If you have not yet filed your Income Tax Return (ITR), very little time is left. The last date for filing ITR for FY 2024-25 (Assessment Year 2025-26) is 15 September 2025. Although every year this deadline is July 31, but this time the government had given time till September. Now that this date is approaching, there is a demand to increase the deadline once again by taxpayers and chartered accountants.
Why is there a demand for expansion?
According to a report, taxpayers are facing problems such as technical disturbances on the Income Tax Portal, increase in login traffic and difficulty in updating refund status. Tax experts believe that if these problems are not resolved soon and the deadline is not extended, many taxpayers can file a hurry in a hurry. This may cause them notice or fine in future. However, the government has not yet given any indication about extending the deadline.
Which form is for whom?
It is very important to choose the right form while filing ITR. Choosing the wrong form can make your return invalid and delay refunds. See below:
, Salary Employees: ITR-1 or ITR-2
, Business owner and professional: ITR-3 or ITR-4
, Companies, LLP and Firm: ITR-5, ITR-6 or ITR-7
Risk of misinformation
Avoid giving wrong information while filing ITR. If you tell low your income, then the Income Tax Department can impose a fine of up to 50% of your due tax. If you deliberately give wrong information, the fine can be up to 200%. The Income Tax Department can also prosecute tax evasion cases.
What to do?
If you have not yet filed your ITR, then select the appropriate form and file your return quickly. Try to log in in the morning or low traffic time to avoid technical problems on the portal. Apart from this, consultation from a tax specialist will also be beneficial.
