income tax return filing due date

As the financial year draws to a close, one critical responsibility looms large for every taxpayer – filing your income tax return(ITR). Whether you’re salaried employee, a freelancer ,a business owner oor,a professional, timely ITR filing is not just a legal obligation but a smart financial move. Missing the due date can cost you more than just money – it can cost you peace of mind.

What is the Income Tax Return Filing Due Date?

For most individual taxpayer in India, the Income Tax Return Filing Due Date for the financial year 2024-25( Assessment Year 2025-26) is July 31 2025. This applies to :

• Individuals( salaried or self-employed) not requiring audit

. • Hindu Undivided families( HUFs)

. •Firms not under audit

However, if your accounts need to be audited( like in the case of certain of businesses or professionals) , the deadline usually extends to October 31,2025

But beware – while deadline can be extended in rare cases, relying on another extension is a risky game. It’s always better to be proactive than to rush at the last moment.

What Happens If you Miss the Due Date ?

Missing the ITR deadline can lead to:

• Late filing Fee under Section 234F( up to Rs.5,000)

• Interest Penalty on unpaid taxes

. • Loss of Carrry Forward of certain losses( like capital losses)

. • Delayed Refund( if you’re eligible for one)

•. Increased Scrutiny from the Income Tax Department.

In short, procrastination can cost you time, money and sleep!

Why File Early?

Fillin your ITR early isn’t just about beating the clock. It comes with real advantage:

• Faster refunds in case of excess tax paid

• Avoiding server issues during the last – minute rush

• Time to rectify errors or revise your return if needed

• peace of mind knowing you’re done with one of the most important financial tasks of the year.

•Documents You Need

. • PAN & Aadhaar card

. • Form 16(for salaried employees)

. • Form 26AS and AIS

. • Bank statements

. • Investment proofs

. • Details of capital gains,if any

. • Rental income details( if applicable)