Filing Income Tax Returns (ITR) can often be confusing, especially when it comes to understanding the various deadlines. For the financial year 2024-25 (Assessment Year 2025-26), the "due date" and the "last date" are two terms that taxpayers need to understand clearly to avoid penalties and ensure compliance.

Understanding the Due Date

The due date is the original deadline set by the Income Tax Department for filing your ITR. For FY 2024-25, the initial due date for individuals and non-audit cases was July 31, 2025. However, this date has been extended to September 15, 2025, for individuals and non-audit cases. This extension was granted by the Central Board of Direct Taxes (CBDT) due to significant revisions in the ITR forms and the time needed to update and test the associated systems. The due date for companies that do not require an audit is October 31, 2025. Companies engaging in international or specified domestic transactions that require them to furnish a report in Form No. 3CEB u/s section 92E have a due date of November 30, 2025.

Missing the due date can lead to several consequences, including:

• Interest charges: Under Section 234A, interest is charged on the outstanding tax amount.
• Late filing fee: A late filing fee is levied under Section 234F.
• Delayed refund: If you are eligible for a refund, it might be delayed.

The Concept of the Last Date

The "last date" for filing ITR is essentially the final opportunity to file your return for a given assessment year. If you miss the due date of September 15, 2025, you can still file a belated return. The last date to file a belated ITR for FY 2024-25 (AY 2025-26) is December 31, 2025.

However, filing a belated return comes with its own set of consequences:

• Late Filing Fee: As per Section 234F, a penalty of up to ₹5,000 can be levied for late filing. For those with a taxable income not exceeding ₹5 lakh, the penalty is capped at ₹1,000.
• Interest: Interest under Section 234A will be applicable.
• Loss of certain deductions: You may lose out on certain deductions and exemptions that are available if you file within the original due date.

Updated Return

Taxpayers can also file an updated return (ITR-U). The deadline for filing updated income tax returns has been extended from 24 months to 48 months from the end of the relevant assessment year. Therefore, for AY 2025-26, the last date to file ITR-U is March 31, 2030.

Key Considerations for ITR Filing

• E-verification: After filing your ITR, it is essential to e-verify it within 30 days of filing. Failure to do so will result in the return being considered invalid. E-verification can be done through various methods like Aadhaar OTP, Electronic Verification Code (EVC), or Net Banking.
• Accuracy of Information: Ensure that all information provided in the ITR is accurate and matches the details in your PAN, Aadhaar, and other relevant documents. Discrepancies can lead to delays in processing or even notices from the Income Tax Department.
• Seek Expert Help: If you are a first-time filer or have complex financial transactions, consider seeking assistance from a tax professional. This can help you navigate the intricacies of tax laws and ensure accurate filing.

The extension of the ITR filing deadline to September 15, 2025, provides taxpayers with additional time to comply with their tax obligations. However, it is crucial to understand the difference between the due date and the last date to avoid penalties and ensure a smooth filing process. Filing your ITR on time, accurately, and with proper e-verification will help you stay compliant and avoid unnecessary complications.