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income tax return

ITR Filing Deadline Extended to September 15, 2025

The Central Board of Direct Taxes (CBDT) has extended the deadline for filing Income Tax Returns (ITR) for the Financial Year 2024-25 (Assessment Year 2025-26) from the original date of July 31, 2025, to September 15, 2025. This extension accommodates significant changes in the ITR forms and provides taxpayers additional time to comply with the updated requirements .

Key Changes in ITR Forms

The Income Tax Department has introduced revised ITR forms for AY 2025-26, incorporating new validation rules. Notably:

  • ITR-1: Now invalid for taxpayers with income from sources like online games, lotteries, or crypto assets. Such taxpayers must use appropriate forms like ITR-2 .
  • Excel Utilities Released: The department has released Excel-based utilities for ITR-1 and ITR-4, facilitating easier filing for eligible taxpayers .

Increased Interest on Tax Refunds

With the extended deadline, taxpayers expecting refunds may benefit from increased interest. The interest on refunds is calculated from April 1, 2025, until the date of refund issuance. Filing closer to the new deadline could result in up to 33% more interest on refunds compared to previous years .

Common Mistakes to Avoid

To ensure accurate filing and avoid complications, taxpayers should be cautious of the following:

  1. Incorrect ITR Form: Using the wrong form can lead to defective return notices.
  2. Omitting Income Sources: Ensure all income, including from previous employers or exempt income, is reported.
  3. Neglecting AIS and Form 26AS: Verify these statements for accuracy before filing.
  4. Incorrect HRA Claims: Ensure proper documentation and calculation for House Rent Allowance claims .

Recommendations for Taxpayers

  • Wait Until June 15: It's advisable to file ITR after June 15, 2025, to ensure all TDS details are updated in Form 26AS and AIS .
  • Use Updated Utilities: Utilize the latest Excel utilities provided by the Income Tax Department for accurate filing.
  • Consult Professionals: If unsure about the appropriate ITR form or any other aspect, seek guidance from tax professionals.

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