As the new Assessment Year (AY) 2025-26 begins, it’s once again time for individuals and businesses across India to prepare and file their Income Tax Returns (ITRs). Filing ITR is not only a legal obligation for eligible taxpayers but also the hallmark of responsible financial practice that can help in availing refunds, claiming deductions and maintaining clean financial records within the government portals.
Whether you’re a salaried individual, freelancer, self-employed professional, or a business owner, staying updated with the latest aspects of ITR filing released by the Dept. of Income Tax will serve as a useful guide to ensure hassle-free return process. The ITR filing process can either be done by the individual him or herself, or with the assistance of a professional CA (Chartered Accountant). The Income Tax filing involves declaring all sources of income, availing eligible deductions, and reporting tax liabilities to the Income Tax Department.
Here we have discussed some of the most important dates and information, to help you stay updated prior to filing your ITR for FY 2024-25.
Important Timelines for AY 2025-26:
1st April 2025 – Start of FY 2024-25 (relevant for AY 2025-26)
31st July 2025 – Old Date for filing ITR
15th September 2025 – Revised Last date for filing ITR
The Central Board of Direct Taxes (CBDT) recently announced that the last date to file your ITR for FY 2024–25 (AY 2025–26) was moved and extended from July 31 to September 15, 2025, for non-audit taxpayers. Missing this deadline may result in interest charges under Section 234A and a late filing fee under Section 234F. However, if the deadline is erroneously missed, taxpayers can still file a back-dated return up to 31st December 2025 by paying penalties and interest.
- The Income Tax Department has released the forms for ITR-1 and ITR-4 on 30th May 2025, thus kickstarting the tax filing season and enabling taxpayers eligible for these ITR forms to file their income tax returns for FY 2024-25.
- Due to systemic changes in the form structure and additional time is required for filing, hence increasing the deadline. The ITR filing process has now begun and can be initiated through the login on ITR official portal – Home | Income Tax Department
- In addition, as per the latest directive released by CBDT, the date for sending intimation relevant to ITR filed for AY 2023-24(FY 2022-23) has been extended to 25 November 2025, which was initially 31 December 2024.
- If you submit your return after the deadline, you will be liable to pay interest at a rate of 1% per month or part month on the unpaid tax amount as per Section 234A of the Income Tax Act, 1961.
- Late Fee – In case of late filing, Section 234F imposes a late fee of-
- INR 5000 if your total income exceeds INR 5 lakh
- INR 1000 if your total income is within INR 5 lakh
- In case an individual has incurred any losses from sources like stock market, mutual funds, real estate or any of your businesses, there is an option to carry them forward and offset against the income in the subsequent year. This provision substantially reduces your tax liability in future years.
- In case you miss filing the ITR prior to the due date, with late fee and interest it can filed as a belated return and still claim the applicable deductions and exemptions.
- In case of filing an incorrect ITR, a revised return can be filed, which allows the taxpayer to rectify the errors made in the original return filed. The due date for filing revised returns is 31st December 2025.
FAQs on ITR Filing 2025
1) What is the last date to file the ITR for FY 2024-25?
The Central Board of Direct Taxes (CBDT) recently announced that the last date to file your ITR for FY 2024–25 (AY 2025–26) was moved and extended from July 31 to September 15, 2025.
2) What is the rebate amount for taxpayers filing ITR 2025 under New Tax Regime?
The rebate u/s 87A for taxpayers filing ITR AY 2025-26 for FY 2024-25 under the new tax regime is up to INR 25000 for income within 7 and under the old regime is up to INR 12,500 for income within INR 5 lakhs.
3) What is Rebate in Income Tax?
Income tax rebate is a benefit provided by the government of India to resident taxpayers, that allows them to reduce their overall tax liability. It is the reduction in the amount of tax by the government when they earn income within a certain ceiling limit. Section 87A pertains to his reduction.
4) What is a Financial Year (FY) and Assessment Year (AY)?
The Financial Year is the year in which the income has been earned by the taxpayer, while the assessment year is the year in which the income is being charged to tax. The assessment year begins where the previous year ends, i.e., the next year to the previous year.