For the Financial Year (FY) 2024-25, corresponding to the Assessment Year (AY) 2025-26, the due dates for filing Income Tax Returns (ITR) in India are as follows:
- Individuals and Entities Not Requiring Audit:
- Due Date: 31st July 2025
- Description: This category includes salaried individuals, professionals, and businesses not mandated to undergo an audit.
- Businesses Requiring Audit:
- Due Date: 31st October 2025
- Description: This applies to businesses obligated to have their accounts audited under the Income Tax Act or any other law.
- Businesses Involving International or Specified Domestic Transactions:
- Due Date: 30th November 2025
- Description: This pertains to entities engaged in international transactions or specified domestic transactions that require filing a transfer pricing report.
Consequences of Missing the ITR Filing Deadline:
- Interest Penalty: Filing after the due date may attract interest at a rate of 1% per month or part thereof on the unpaid tax amount under Section 234A.
- Late Filing Fee: A penalty under Section 234F may be levied for late filing.
- Belated Return: If the original due date is missed, a belated return can be filed by 31st December 2025, subject to penalties and interest.
It’s crucial to adhere to these deadlines to avoid penalties and ensure compliance with tax regulations. For the most accurate and updated information, always refer to official notifications from the Income Tax Department.