New Delhi, September 15, 2025 – The clock is ticking for taxpayers. September 15 marks the last day to file Income Tax Returns (ITR) for Assessment Year 2025–26 (Financial Year 2024–25) without incurring penalties. Those who miss today’s deadline can still submit a belated return until December 31, but it will attract late fees and additional interest. Beyond that, only an updated return will be possible, which involves higher costs and penalties.

Tax experts are urging individuals not to wait until the last minute, as the tax portal often experiences heavy traffic on deadline day. Filing early ensures that refunds, if any, are processed without delays.

To avoid mistakes and penalties, follow these essential steps:

• Form 26AS and AIS (Annual Information Statement): Cross-check income and tax data available with the government.

• Form 16: Proof of salary and TDS deductions for salaried employees.

• Savings and Deduction Proofs: If opting for the old tax regime, keep documents for investments under Sections 80C, 80D, or home loan interest.

• Bank Statements: Ensure all sources of income, including interest earnings, are included.

• PAN and Aadhaar: Make sure both are linked and updated on the portal to avoid refund issues.

• ITR-1: For salaried or pension income, including rent or interest earnings.

• ITR-2: For individuals with capital gains, property income, or foreign earnings.

• ITR-3 and ITR-4: For business professionals and freelancers.

• ITR-5, 6, 7: For firms, companies, and trusts, depending on income category.

Selecting the right form is crucial; filing under the wrong form can invalidate the return.

• Official Income Tax Portal: File directly online through the government portal.

• Third-Party Software: Suitable for individuals who need guided assistance.

• Offline Utility: Downloadable utility for those who prefer working without constant internet access.

Filing is incomplete until verification. Taxpayers must e-verify within 30 days of filing. If verification happens after 30 days, the date of verification will be considered the actual filing date. This may result in late fees and interest charges, even if the return was submitted earlier.

• By December 31, 2025: Taxpayers can still file a belated return by paying a penalty of up to ₹5,000.

• After December 31, 2025: An updated return can be filed, but it attracts both late fees and additional tax liabilities.

Filing after the due date not only invites late fees but also increases the total tax burden due to interest on outstanding payments.

• Section 234A: A 1% monthly interest applies from September 16 until the return is filed.

• Section 234B: If less than 90% of advance tax was paid, another 1% monthly interest is charged from April 1 of the assessment year.

For example, an individual with an annual income of ₹12 lakh who delays filing beyond September 15 will pay:

Thus, even a single day’s delay could cost a taxpayer nearly ₹6,000.

Taxpayers must act fast to avoid unnecessary penalties. Filing ITR on time not only prevents late fees but also ensures quicker refunds and compliance with the law. If you haven’t filed yet, gather your documents, log into the income tax portal, and complete the process today.