The Central Board of Direct Taxes (CBDT) has officially extended the due date for ITR filing. However, it is extended for certain categories of taxpayers only. If you are in this eligible category of taxpayers, this is your golden chance. The revised deadline now allows more time for you to complete the filing process without incurring penalties.
Latest Update on ITR Filing Due Date Extension
Earlier, the due date for ITR filing was set as per the Income Tax Act’s standard timelines, which is usually July 31 for individual taxpayers. However, the CBDT has now pushed the deadline forward.
The following are eligible for an extended due date for ITR Filing:
- Individuals not required to audit their accounts.
- Hindu Undivided Families (HUFs).
- Firms (other than those requiring audit under the Income Tax Act).
The new due date for ITR filing is now set to give an additional buffer of time. Taxpayers should take this opportunity to file accurately and avoid last-minute issues.
Why Has CBDT Extended the Deadline?
CBDT considers several factors before revising deadlines:
- Technical glitches on the income tax portal.
- Delays in issuing Form 16 by employers.
- Compliance burden on tax professionals.
- Requests by professional bodies for more time.
The goal is to ensure smooth and error-free ITR filing. This decision also reduces the risk of penalties and late fees due to delayed submissions.
Implications for Taxpayers
This extension is a positive move. Here’s what taxpayers should keep in mind:
- Utilize the extra time to verify all documents.
- Reconcile TDS details with Form 26AS.
- Ensure accurate disclosure of all income sources.
- Report foreign assets, if any, to avoid penalties.
Filing the return early, even with the extended due date, is advisable. It helps with quicker refunds and avoids last-minute rush.
Points to Remember
- The extension applies only to specified categories. Others should check their applicable deadlines.
- Interest under Section 234A may still apply if taxes are not paid by the original due date.
- Taxpayers under audit or subject to transfer pricing are not covered in this extension.
- The Central Board of Direct Taxes (CBDT) has extended the due date for filing Income Tax Returns (ITRs) for the Assessment Year 2025-26 from July 31, 2025, to September 15, 2025.
You must always confirm with a tax professional whether you fall under the eligible category for extended due date for ITR Filing.
Conclusion
In conclusion, The CBDT’s decision to extend the due date for ITR filing is a relief for taxpayers across the country. It offers a valuable opportunity to ensure correct and timely ITR filing. Taxpayers are encouraged to act promptly and get assistance in ITR Filing from our experts to avoid any hassles and penalties. For more information, you can contact with our experts at: 8881-069-069.
Download E-Startup Mobile App and Never miss the latest updates narrating to your business.