📌 Income Tax Return Filing FY 2024-25: Last Date, Penalty & Belated ITR Process
Filing your Income Tax Return (ITR) on time is crucial to avoid penalties and interest charges. For the Financial Year (FY) 2024-25, taxpayers must stay updated about the last date of filing ITR, late filing penalty, and the belated return process. Here’s a complete guide prepared by Vizzve Finance to help you file your return without hassle.
🔹 Last Date for Filing ITR FY 2024-25
For individuals (not subject to audit): July 31, 2025
For businesses/individuals requiring audit: October 31, 2025
For those required to furnish transfer pricing report: November 30, 2025
Filing before the due date ensures quick refunds, smooth processing, and avoids penalties.
🔹 Penalty for Late Filing of ITR FY 2024-25
If you miss the deadline, you can still file a belated ITR but with penalties:
Late fee under Section 234F:
₹5,000 if filed after due date but before December 31, 2025
₹10,000 if filed after December 31, 2025 (reduced to ₹1,000 for taxpayers with total income below ₹5 lakh)
Interest under Section 234A: 1% per month on the due tax amount until filing.
🔹 Belated ITR Filing Process for FY 2024-25
If you miss the original deadline, you can file a belated return:
Visit the Income Tax e-filing portal.
Login using your PAN/Aadhaar and password.
Select the relevant assessment year (AY 2025-26).
Choose "Belated Return" under Section 139(4).
Fill in details, upload Form 16/other income details, verify, and submit.
Note: A belated ITR can be filed till December 31, 2025, unless extended by the government.
🔹 Why Timely Filing is Important
Avoids penalties and interest charges
Ensures eligibility for loans and visas
Enables faster tax refunds
Keeps your financial records clean and compliant
📌Frequently Asked Questions (FAQs)
Q1. What happens if I don’t file ITR at all?
You may receive notices from the Income Tax Department, face penalties, and lose the right to carry forward losses.
Q2. Can I revise a belated ITR?
Yes, a belated ITR can also be revised before December 31, 2025.
Q3. Who is exempt from filing ITR?
Individuals with income below the basic exemption limit (₹2.5 lakh for individuals under 60) are not required to file unless they meet certain conditions.
Q4. Is late fee refundable if ITR is filed late but tax is not payable?
No, late fees once paid are not refundable.
Q5. Can senior citizens avoid late filing penalties?
Senior citizens are subject to the same rules, though rebate under Section 87A may reduce tax liability.
Published on : 10th September
Published by : Selvi
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