ITR Filing Deadline 2025:

The Central Board of Direct Taxes (CBDT) has provided relief to taxpayers by extending the Income Tax Return (ITR) filing deadline from July 31 to September 15 this year. Many people were worried they could not file their returns on time due to delays in receiving Form 16 and other reasons. This extension gives everyone more time to complete their tax filings without stress.

ITR Filing Deadline 2025:

Some people asked whether they must pay self-assessment tax before July 31 or not. According to experts, since the deadline to file ITR is now September 15, the self-assessment tax can also be paid within this period. Earlier, if you paid taxes after July 31, you had to pay interest and penalty. Now, you have until September 15 to pay your taxes without extra charges.

What is Self-Assessment Tax?

Self-assessment tax is the remaining tax you need to pay when filing your ITR. It is calculated by checking total tax liability, TDS (Tax Deducted at Source) already paid, and advance tax already paid. If there is any remaining amount, you must pay it as self-assessment tax.

What Happens if You Miss the Deadline?

If you pay your taxes after September 15, you will need to pay 1% interest per month on the due amount. This interest is charged monthly. If you did not pay advance tax or paid less than required, you must pay this interest.

Who Should Pay Advance Tax?

People with self-employment or businesses must pay advance tax if their tax amount exceeds ₹10,000. Salaried employees must also pay advance tax if their non-salary income (like rent, interest from fixed deposits, freelancing income, or capital gains) leads to extra tax over ₹10,000.

It is important to file your ITR and pay your taxes on time to avoid penalties and extra interest.

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