ITR Filing Deadline September 15: Missing It Could Cost You Up to ₹5,000 Penalty

Income Tax Return Filing 2025-26: The deadline to file Income Tax Returns (ITR) for the assessment year 2025-26 is just around the corner. The Central Board of Direct Taxes (CBDT) has extended the filing date from July 31 to September 15, 2025, giving taxpayers additional time due to the introduction of new forms and system updates. With only a few days left, it is crucial for taxpayers to complete their filings on time to avoid penalties.

Key Dates and Extensions

Initially, the deadline for filing ITR was set as July 31, 2025. However, in May, CBDT announced an extension until September 15, 2025, citing the rollout of updated forms and technological improvements. This extension was meant to provide taxpayers sufficient time to adapt to the changes.

Essential Documents for ITR Filing

Before you begin filing your ITR, make sure you have the following documents ready:

• Form 16 (from current and previous employers if you switched jobs)

• PAN card and Aadhaar card

• Form 26AS and Annual Information Statement (AIS)

• Proof of investments and insurance premium receipts

• Home loan interest certificate

• Education loan details (if applicable)

Having these documents in place ensures error-free filing and prevents delays in processing.

Choosing the Right ITR Form

Selecting the correct ITR form is critical to avoid mistakes. The forms vary based on income type and category:

• ITR-1: For salaried individuals and pensioners with income below ₹50 lakh

• ITR-2: For individuals with income from multiple sources but no business income

• ITR-3: For professionals and business owners

• ITR-4: For small businesses and professionals under presumptive taxation

• ITR-5: For LLPs and firms

Importance of Matching Form 26AS and AIS

Tax experts emphasize the importance of reconciling income and tax credits in Form 26AS and AIS before filing. This step reduces discrepancies, prevents unwanted tax notices, and ensures timely refunds.

Old vs. New Tax Regime Benefits

Taxpayers must also choose between the old and new tax regimes wisely:

• Under the old regime, deductions are available for NPS, insurance premiums, education loans, home loan interest, and donations.

• The new regime offers limited deductions, primarily for house property interest and NPS contributions.

The right choice can help reduce tax liability significantly.

Penalties for Late Filing

Filing your return after September 15 will attract penalties:

• ₹5,000 fine for taxpayers with income above ₹5 lakh.

• ₹1,000 fine for taxpayers with income below ₹5 lakh.

Delays not only lead to fines but can also affect refund claims and future financial transactions.

👉 Bottom Line: With the September 15 ITR deadline fast approaching, taxpayers should not delay gathering documents and completing the filing process. Missing the deadline could mean losing money in penalties and facing unnecessary hassles. Filing early ensures peace of mind and smoother tax compliance.