ITR Extension Explained: How Long Do You Really Have to File FY 2024–25?

ITR Extension Explained: Filing your Income Tax Return (ITR) on time is a crucial responsibility for every taxpayer in India, but the process can feel overwhelming, especially with last-minute changes like deadline extensions. For the Financial Year (FY) 2024–25, the Central Board of Direct Taxes (CBDT) has extended the ITR filing deadline, giving taxpayers a breather. But what does this extension mean, and how long do you really have to file?

In this comprehensive guide, we’ll break down the ITR extension explained: how long do you really have to file FY 2024–25?, covering deadlines, penalties, reasons for the extension, and actionable tips to ensure compliance. Whether you’re a salaried individual, freelancer, or business owner, this article will help you navigate the process with ease.

ITR Extension Explained: Why Was the ITR Filing Deadline Extended for FY 2024–25?

The CBDT extended the ITR filing deadline for FY 2024–25 (Assessment Year 2025–26) from July 31, 2025, to September 15, 2025, for non-audit taxpayers, such as individuals, Hindu Undivided Families (HUFs), and professionals not subject to audit. This decision was driven by several factors:

• Revised ITR Forms: The Income Tax Department introduced updated ITR forms for AY 2025–26, incorporating structural changes to simplify compliance and enhance transparency. These revisions required additional time for system integration and testing.
• Delayed Utility Releases: As of May 2025, only ITR-1 and ITR-4 utilities were available, with forms like ITR-2, ITR-3, ITR-5, ITR-6, and ITR-7 released later, causing delays for taxpayers with complex income sources.
• TDS Credit Reflection: Tax Deducted at Source (TDS) statements for Q4 FY 2024–25, due by May 31, 2025, are expected to reflect in taxpayer accounts only by early June, limiting the filing window.
• Technical Glitches: Taxpayers and professionals reported issues with the e-filing portal, such as slow performance, session timeouts, and difficulties accessing the Annual Information Statement (AIS) and Taxpayer Information Summary (TIS).

These challenges prompted the CBDT to extend the deadline, ensuring taxpayers have sufficient time to file accurately and avoid errors.

ITR Extension Explained: Who Benefits from the ITR Extension?

The extension applies to specific categories of taxpayers. Here’s a breakdown:

Note: Taxpayers requiring audits or those with international transactions must adhere to their standard deadlines unless further extensions are announced.

ITR Extension Explained: What Happens If You Miss the September 15, 2025 Deadline?

Missing the extended deadline can lead to consequences, but you still have options. Here’s what you need to know:

Penalties for Late Filing

• Late Filing Fees (Section 234F):
  • ₹5,000 for taxpayers with income above ₹5 lakh.
  • ₹1,000 for taxpayers with income below ₹5 lakh.
• Interest on Unpaid Taxes (Section 234A): If you have outstanding taxes, interest accrues at 1% per month or part of a month on the unpaid amount.
• Loss of Benefits: Late filers cannot carry forward losses from capital gains or business income, which could increase future tax liability.
• Delayed Refunds: Late filing may delay refund processing, potentially reducing interest on refunds.

ITR Extension Explained: Filing a Belated Return

If you miss the September 15, 2025 deadline, you can file a belated return by December 31, 2025. However, you’ll incur the penalties mentioned above. To file a belated return:

1. Log in to the Income Tax e-filing portal.
2. Select “Belated Return” under Section 139(4).
3. Pay applicable late fees and interest.
4. Submit your ITR with accurate details.

Case Study: Rajesh’s Late Filing Dilemma

Rajesh, a salaried employee with a taxable income of ₹7 lakh, missed the July 31, 2025 deadline due to incomplete TDS data. With the extension to September 15, 2025, he gathered his Form 16 and AIS, filing accurately on September 10. Had he missed the extended deadline, he would have faced a ₹5,000 penalty and potential interest on unpaid taxes, impacting his refund. The extension saved him from these consequences, highlighting the importance of acting within the new timeframe.

How to File Your ITR for FY 2024–25: Step-by-Step Guide

Filing your ITR correctly is key to avoiding penalties and ensuring compliance. Follow these steps:

1. Choose the Right ITR Form:
   • ITR-1 (Sahaj): For resident individuals with income up to ₹50 lakh from salary, one house property, or other sources (e.g., interest).
   • ITR-2: For individuals/HUFs with no business income but with capital gains or foreign assets.
   • ITR-3: For individuals/HUFs with business or professional income.
   • ITR-4 (Sugam): For individuals/HUFs/firms opting for presumptive taxation with income up to ₹50 lakh.
   • ITR-5, 6, 7: For businesses, companies, or other entities.
2. Gather Documents:
   • Form 16 (for salaried individuals).
   • Form 26AS and AIS for TDS details.
   • Bank statements, investment proofs, and capital gains records.
3. Log in to the E-Filing Portal:
   • Visit www.incometax.gov.in.
   • Log in with your PAN and password.
   • Select AY 2025–26 and the appropriate ITR form.
4. Fill and Verify:
   • Use pre-filled data where available.
   • Double-check AIS and Form 26AS for accuracy.
   • Verify via Aadhaar OTP or other methods.
5. Submit and Pay Fees (if applicable):
   • Pay any late fees or interest if filing after September 15, 2025.
   • Download the acknowledgment for records.

ITR Extension Explained: Key Changes in ITR Forms for FY 2024–25

The ITR forms for AY 2025–26 include updates to streamline filing and improve reporting:

• ITR-1 and ITR-4: Now allow reporting of long-term capital gains (LTCG) up to ₹1.25 lakh, previously not permitted.
• ITR-2 and ITR-3: Require separate reporting of capital gains before and after July 23, 2024, due to changes in LTCG tax rates.
• Schedule AL: Increased reporting threshold for assets and liabilities from ₹50 lakh to ₹1 crore.
• TDS Reporting: Mandatory specification of TDS section codes for better transparency.

These changes aim to make tax filing easier but require careful attention to avoid errors.

ITR Extension Explained: Tips to File Your ITR Before the Deadline

To make the most of the extended deadline, follow these tips:

• Start Early: Don’t wait until September 15, 2025. Begin gathering documents now to avoid last-minute stress.
• Verify TDS Details: Cross-check Form 26AS and AIS to ensure all deductions are reflected.
• Choose the Correct Tax Regime: The new tax regime is the default, but you can opt for the old regime by September 15, 2025. Late filers are automatically assigned the new regime.
• Seek Professional Help: If your income sources are complex, consult a chartered accountant to avoid mistakes.
• Use Reliable Platforms: Platforms like ClearTax or Tax2win offer AI-powered filing solutions for accuracy and ease.

FAQ Section

1. What is the extended ITR filing deadline for FY 2024–25?

The extended deadline for filing Income Tax Returns (ITR) for the Financial Year 2024–25 (Assessment Year 2025–26) is September 15, 2025, for individuals, Hindu Undivided Families (HUFs), Associations of Persons (AOPs), and Bodies of Individuals (BOIs) whose accounts do not require an audit. Originally set for July 31, 2025, the Central Board of Direct Taxes (CBDT) extended this deadline to accommodate challenges faced by taxpayers, such as delays in the release of revised ITR forms and technical issues with the e-filing portal.

For businesses and professionals requiring an audit under Section 44AB, the deadline is October 31, 2025, while those with transfer pricing obligations have until November 30, 2025. Belated or revised returns can be filed by December 31, 2025, and updated returns under Section 139(8A) are allowed until March 31, 2030. This extension provides taxpayers additional time to ensure accurate and compliant filings, reducing the risk of errors and penalties due to rushed submissions.

2. What are the penalties for missing the ITR filing deadline?

Missing the ITR filing deadline of September 15, 2025, for FY 2024–25 (AY 2025–26) results in several consequences under the Income Tax Act. A late filing fee under Section 234F is imposed: ₹1,000 for taxpayers with a gross total income up to ₹5 lakh, and ₹5,000 for those with income exceeding ₹5 lakh, even if no tax is due. Additionally, interest is charged at 1% per month or part thereof on unpaid taxes under Section 234A, starting from the due date until the filing date.

Taxpayers also lose the ability to carry forward certain losses, such as business or capital losses (except house property losses), and may forfeit deductions under sections like 80-IA, 80-IB, or 80-IC. Filing a belated return by December 31, 2025, is possible but does not exempt these penalties. Timely filing avoids these financial and compliance burdens, ensuring smoother tax processing and eligibility for refunds or benefits.

3. Can I file a belated ITR after September 15, 2025?

Yes, if you miss the extended ITR filing deadline of September 15, 2025, for FY 2024–25 (AY 2025–26), you can file a belated return under Section 139(4) of the Income Tax Act until December 31, 2025. This option allows taxpayers to remain compliant despite missing the original due date. However, filing a belated return comes with drawbacks, including a late fee of ₹1,000 (for incomes up to ₹5 lakh) or ₹5,000 (for incomes above ₹5 lakh) under Section 234F, and interest on unpaid taxes at 1% per month under Section 234A.

Additionally, you cannot carry forward business or capital losses (except house property losses) to offset future income, and certain deductions may be disallowed. To file, log into the e-filing portal, select the appropriate ITR form for AY 2025–26, and mark it as a belated return. Filing belatedly is better than not filing, but timely submission avoids penalties and preserves tax benefits.

4. How do I choose the right ITR form for FY 2024–25?

Choosing the correct ITR form for FY 2024–25 (AY 2025–26) depends on your income sources, residential status, and taxpayer category. ITR-1 (Sahaj) is for resident individuals with income up to ₹50 lakh from salary, one house property, or other sources like interest. ITR-2 suits individuals or HUFs with income from capital gains or foreign assets but not business income. ITR-3 is for individuals or HUFs with business or professional income, including partnership firms.

ITR-4 (Sugam) is for those opting for presumptive taxation under Sections 44AD, 44ADA, or 44AE, with income up to ₹50 lakh. ITR-5, ITR-6, and ITR-7 cater to firms, companies, and trusts, respectively. To select the right form, review your income sources, consult the CBDT’s guidelines on the e-filing portal, and ensure compatibility with the updated forms for AY 2025–26. Using the wrong form can lead to defective filing, requiring correction or refiling.

5. Why were ITR forms delayed for FY 2024–25?

The ITR forms for FY 2024–25 (AY 2025–26) were delayed due to revisions aimed at simplifying the filing process and enhancing transparency, as announced by the Central Board of Direct Taxes (CBDT). These updated forms, incorporating structural and content changes, were released later than usual, in August 2025, reducing the preparation time for taxpayers. Additionally, technical glitches on the e-filing portal and delays in the availability of Excel utilities for ITR-1 to ITR-7 further complicated the process.

Feedback from taxpayers and professionals highlighted these challenges, prompting the CBDT to extend the filing deadline from July 31 to September 15, 2025, for non-audit taxpayers. The delay in Tax Deducted at Source (TDS) details reflecting in taxpayer accounts by early June also contributed, as it limited the time to verify and file accurately. This extension ensured taxpayers had sufficient time to adapt to the new forms and avoid errors.

6. What happens if I make a mistake in my ITR?

Making a mistake in your ITR for FY 2024–25 (AY 2025–26) can lead to a defective return, potential penalties, or scrutiny by the Income Tax Department. Errors like incorrect income reporting, mismatched TDS details, or choosing the wrong ITR form may result in a notice under Section 139(9), requiring correction within 15 days. If unresolved, the return may be deemed invalid, leading to penalties or loss of refunds. You can file a revised return under Section 139(5) by December 31, 2025, to correct errors, provided the original return was filed on time or as a belated return.

Mistakes like underreporting income may attract penalties up to 50–200% of the tax evaded under Section 271(1)(c) if deemed intentional. To avoid issues, verify all details against Form 16, Form 26AS, and AIS on the e-filing portal before submission. Consulting a tax professional can help ensure accuracy and compliance, minimizing the risk of costly consequences.

Conclusion

The ITR extension explained: how long do you really have to file FY 2024–25? boils down to a new deadline of September 15, 2025, for non-audit taxpayers, offering relief amid revised forms and technical challenges. By understanding the extension, penalties, and filing process, you can stay compliant and avoid unnecessary costs. Start early, choose the right ITR form, and verify your data to file accurately. Have questions or tips to share?