New ITR Filing Deadline FY 2024-25: In a major relief to taxpayers, the Central Board of Direct Taxes (CBDT) has extended the deadline for filing Income Tax Returns (ITRs) for the assessment year 2025–26. Returns originally due by July 31, 2025, can now be filed until September 15, 2025. The extension comes amid significant revisions in ITR forms, ongoing system development, and the need for accurate reflection of TDS credits.“CBDT has decided to extend the due date of filing of ITRs, which are due for filing by 31st July 2025, to 15th September 2025 This extension will provide more time due to significant revisions in ITR forms, system development needs, and TDS credit reflections. This ensures a smoother and more accurate filing experience for everyone. Formal notification will follow.” Income Tax Department, Government of India posted on X.According to CBDT, the notified ITRS for AY 2025-26 have undergone structural and content revisions aimed at simplifying compliance, enhancing transparency, and enabling accurate reporting. These changes have necessitated additional time for system development, integration, and testing of the corresponding utilities. Furthermore, credits arising from TDS statements, due for filing by 31st May 2025, are expected to begin reflecting in early June, limiting the effective window for return filing in the absence of such extension.“In view of the extensive changes introduced in the notified ITRs and considering the time required for system readiness and rollout of Income Tax Return (ITR) utilities for Assessment Year (AY) 2025-26, the Central Board of Direct Taxes (CBDT) has decided to extend the due date for filing returns. Accordingly, to facilitate a smooth and convenient filing experience for taxpayers, it has been decided that the due date for filing of ITRS, originally due on 31st July 2025, is extended to 15th September 2025.” CBDT release stated.
A formal notification reflecting the new deadline will be issued separately, said V. Rajitha, Commissioner of Income Tax (Media & Technical Policy) and Official Spokesperson for CBDT.“This extension is expected to mitigate the concerns raised by stakeholders and provide adequate time for compliance, thereby ensuring the integrity and accuracy of the return filing process.” CBDT added.Advantage taxpayersSonu Iyer, Partner and National Leader, People Advisory Services-Tax, EY India explains, “The ITR forms notified for the FY 2024-25 (AY 2025-26) incorporate the amendments introduced by the Finance Act 2024 and have enhanced reporting requirements relating to deductions being claimed, requirement to report TDS section codes, provide the bifurcation of capital gains for pre and post 23 July 2024, etc. If you recall, Finance Act 2024 has rationalized capital gains taxation on specific transactions on or after 23 July 2024.”“Given the requirements of these new ITR forms, the e-filing utility (both online and offline) needs to be updated by the Government. Therefore, it is a very welcome move from the government to extend the ITR filing deadline from 31 July 2025 to 15 Sep 2025, allowing taxpayers the time required to comply with these enhanced reporting requirements and legislative changes,” she adds.As per CA Ashish Niraj, Partner at A S N & Company, Chartered Accountants: “This extension was very much awaited by Income Tax professionals and taxpayers, as the Income Tax portal had not yet enabled the filing of ITRs on its portal till May 27, 2025. Normally, July 31 is due date for the category of taxpayers whose accounts are not required to be audited. As the due date was approaching, professionals and taxpayers were tense about how they would prepare and file returns in such a short span of time once the portal allowed ITR filing. There were issues in fetching proper AIS data and TDS data in some cases. All these are required to be reconciled to file error-free returns. Even AIS is not getting fetched properly in many cases. Now that the ITR due date has been extended, taxpayers will get enough time to prepare returns, compare with AIS, 26AS, etc., to avoid mismatches and file them accurately. It’s really a welcome decision.”New ITR Forms FY 2024-25Meanwhile, the Income Tax Department has notified all seven ITR forms for AY 2025–26, incorporating structural updates and simplifications. ITR-1 (Sahaj) is meant for resident individuals with income up to Rs 50 lakh from salary, one house property, other sources (like interest), and agricultural income up to Rs 5,000. A key update now allows salaried individuals to report long-term capital gains (LTCG) up to Rs 1.25 lakh under ITR-1, which was earlier not permitted.ITR-2 applies to individuals and Hindu Undivided Families (HUFs) who do not have income from business or profession but have income from capital gains. A new requirement mandates reporting capital gains separately based on whether they arose before or after July 23, 2024, due to changes in LTCG tax treatment introduced in the 2024 Union Budget.ITR-3 is for individuals and HUFs with income from business or profession. It now features an increased reporting threshold under Schedule AL (Assets and Liabilities)—from Rs 50 lakh to Rs 1 crore—reducing compliance for middle-income taxpayers.ITR-4 (Sugam) is designed for individuals, HUFs, and firms (excluding LLPs) with total income up to Rs 50 lakh who opt for presumptive taxation under sections 44AD, 44ADA, or 44AE. It too now permits reporting of LTCG up to Rs 1.25 lakh, providing relief to small taxpayers with limited capital gains.ITR-5 is meant for firms, LLPs, AOPs, BOIs, and co-operative societies, while ITR-6 is applicable to companies, excluding those claiming exemption under section 11. Both these forms include changes in the capital gains schedule in line with the revised tax rules post-July 2024.Lastly, ITR-7 is for trusts and charitable institutions required to file returns under sections 139(4A), 139(4B), 139(4C), and 139(4D).
