ITR filing Last Date FY 2024-25 (AY 2025-26) – Income Tax Return Due Date

Filing your Income Tax Return (ITR) is an essential part of managing your tax obligations, and it’s important to stay updated with the latest deadlines and requirements. This guide highlights the ITR filing due dates for different categories of taxpayers, helping you navigate the tax filing process with ease.

When is the Last Date to File ITR?

• The last date to file ITR is 31st July of the following financial year for non-audit taxpayers.
• So, for the Financial Year 2024-25 (Assessment Year 2025-26) the last date to file ITR would be 31st July 2025.
• However, if you miss filing on this deadline you can file a belated return by 31st December 2025 with penalties and interest.

Income Tax Filing Due Dates for FY 2024-25 (AY 2025-26)

Read here – Benefits of ITR Filing

Consequences of Missing the ITR Filing Deadline

Interest

If you submit your return after the deadline, you will be liable to pay interest at a rate of 1% per month or part month on the unpaid tax amount as per Section 234A.

Late fee

In case of late filing, Section 234F imposes a late fee of

• Rs.5,000, if your total income exceeds Rs. 5 Lakh.
• Rs.1,000, if your total income is within Rs.5 lakh

Loss Adjustment

In case you have incurred losses from sources like the stock market, mutual funds, properties, or any of your businesses, you have the option to carry them forward and offset them against your income in the subsequent year. This provision substantially reduces your tax liability in future years. However, you will not be allowed to carry forward these losses if you miss filing your ITR before the deadline.

What if ITR Filing is Missed?

Worried that you missed the due date for filing ITR? You can still file ITR in the following ways.

Belated Return

• If you miss the ITR filing due date, you can file a return after the due date, called a belated return.
• However, you will still have to pay the late fee and interest charges, and you will not be allowed to carry forward any losses for future adjustments.
• You can still claim deductions and exemptions while filing belated returns.
• The last date for filing a belated return is 31st December of the assessment year (unless extended by the government).

Updated Return

• Still, if you miss the 31st December deadline due to unavoidable reasons still you can file the updated return (ITR U) subject to the conditions specified therein.

What if ITR Filing has Errors?

Worried that you have already filed ITR and made some mistakes in it? You can easily revise the return that is already filed.

Revised Return

•  Revised returns allows the assessee to rectify the errors made in the original return filed by the him.
• The due date for filing revised returns is 31st December following the end of the financial year.
• Lets understand this with an example. Mr. X has filed his income tax return for the financial year 2024-25 on 30th June, 2025. But on August 1st, he realized that he has not claimed certain deductions in his returns. Therefore, he now has the option to revise the return until 31st December 2025.

What are Financial Year (FY) and Assessment Year (AY)?

• The previous year is the year in which the income is earned, whereas the assessment year is the year in which the income is charged to tax.
• The assessment year begins where the previous year ends, i.e., the next year to the previous year.
• Return of income needs to be filed in the assessment year for the income earned in the previous year.

Illustration

Let’s understand this concept through an example.

• The return you will file in the upcoming year is for the income you earned in FY 2024-25, i.e. for the income earned between 1 April 2024 and 31 March 2025.
• The assessment year is the year in which returns needs to be filed for income earned during FY 2024-2025.
• Therefore, the assessment year would be the immediately next year, i.e. 1st April 2025 to 31st March 2026. Hence, the assessment year would be AY 2025-26.

Important Due Dates for Paying Advance Tax Instalments for FY 2025-26

Whenever we talk about income tax, there are certain tax formalities that need to be followed within the specified due dates, such as filing income tax returns, paying advance tax on time, etc.

The due dates for the payment of advance tax are: