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ITR Filing 2024-25: If you have not filed your ITR yet, then this news is very useful for you. The deadline for filing income tax returns for the financial year 2024-25 has been set as 15 September 2025. But taxpayers who have still not been able to file ITR should get this work done as soon as possible, because if you miss the deadline for ITR filing, you may have to pay a penalty.

Under section 139(4) of the Income Tax Act, you can file a belated return (late return) even later. The last date for filing a late return for this year is 31 December 2025. This means that if you still want to file ITR after September 15, then you still have a few months left. But keep in mind that you will have to pay a penalty for late filing.

How much will the penalty be?

Under Section 234F of the Income Tax Act, if you file your return late, you will have to pay a penalty. The amount of the penalty depends on your taxable income. If your taxable income is less than or equal to Rs 5 lakh, the maximum penalty amount is Rs 1,000. On the other hand, if your income is more than Rs 5 lakh, you may have to pay a maximum penalty of Rs 5,000. You may have to pay this penalty even if you file a late return, whether your tax liability is less or not.

Why is it important to file ITR on time?

Waiting for the deadline is not right because apart from the penalty, it can also increase your mental stress. If you wait till the last days, technical problems may increase and there may be further delay in filing your return. Therefore, the best way is to file your ITR as soon as possible and avoid any kind of penalty or trouble.

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