More
    HomeBusinessITR Deadline Extension 2025 Live Updates: Has Income Tax Department Extended The...

    ITR Deadline Extension 2025 Live Updates: Has Income Tax Department Extended The Due Date?

    Published on

    ITR Filing Deadline 2025 Extension Live Updates: Today is the ITR filing last date for the assessment year 2025-26. Tax professionals and bodies are urging the income tax department to extend the deadline. However, the income tax department has clarified that the current September 15 deadline remains intact and warned taxpayers against a fake message that is spreading widely on social media and messaging app about the deadline extension.

    So far, a total of 6.7 crore ITRs have been filed, as of 12:00 pm today, according to the income tax portal. Out of this, 6.03 crore ITRs have been verified by the taxpayers, and over 4 crore returns have been processed by the income tax department.

    Last year, by July 31, 2024, 7.6 crore ITRs had been submitted.

    Who Must File ITR Today?

    The September 15 deadline is for non-audit taxpayers, including most salaried individuals, pensioners, NRIs, and those whose accounts do not require audit. For audit ITRs, the deadline remains October 31.

    Usually, the ITR filing deadline every year is July 31. However, this year, the last date for filing non-audit returns was pushed to September 15 from the usual July 31 deadline, owing to delays in the release of updated ITR forms. The extension came after several tweaks were required following the interim Budget’s changes to the capital gains tax framework.

    What Happens If You Miss Today’s Deadline?

    Taxpayers filing after September 15 face a penalty of Rs 5,000 under Section 234F, though the fine is capped at Rs 1,000 for those with income below Rs 5 lakh. Late filers also lose the ability to carry forward certain losses, risk refund delays and may attract closer scrutiny from the tax department.

    With the clock ticking, the department is urging taxpayers to file early to avoid last-minute issues. Whether the deadline is extended once again remains to be seen.

    Source link

    Latest articles

    Andretti Global sends uplifting message to Will Power after unfortunate Team Penske split

    IndyCar star Will Power announced after the 2025 IndyCar season that he will leave...

    UK and US unveil nuclear energy deal ahead of Trump visit

    The UK and US are set to sign an agreement focused on accelerating the...

    More like this