News India Live, Digital Desk: ITR Filing 2025: More than one and a half months have passed and ITR has been filed. The early filing has not started yet. The Income Tax Department has already released the ITR. Forms have been notified from 1 to 7. Apart from this, several changes have also been made in Form 16 received by employees from their employers. In such a situation, the question is arising in the minds of many taxpayers whether the deadline of ITR will be different this time.
This time taxpayers will have to file income tax returns for FY 2024-25. However, taxpayers will have to file ITR. The crowd of filling the form has not started yet. The main reason for this is not to receive Form 16 from employers. First, this time many changes are being made in Form 16 and second, employers will have to provide Form 16 to their employees by June 15. It is clear that the real competition of filing income tax returns will start only after June 15. If someone does not get Form 16, then he can also file his return through Form 26AS.
What is the deadline?
The last date for filing ITR is usually 31 July and it is believed that this time the last date will be the same. For the convenience of taxpayers, the government has launched ITR. The form has been simplified and most of the information is already filled. Taxpayers are advised to file their returns long ago to avoid the last moment’s run.
What will happen if the deadline misses?
If a taxpayer misses the last date of July 31, he still has time to file his return including fine and interest. Such taxpayers can file their returns by 31 December. They only have to pay some fine and interest. However, if a taxpayer has to audit his account, he gets an opportunity to file his return without any fine or interest by 31 October.
If an individual taxpayer does not file his ITR till 31 July, then How much penalty will be imposed If he fails to file, he will have to pay a fine. For income of up to Rs 5 lakh, this fine amount is Rs 1,000, while taxpayers with income of more than Rs 5 lakh have been given a chance to file their returns by December 31 by paying a fine of Rs 5,000. However, such taxpayers are not given any other opportunity to accommodate their deficit.
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