ITR Due Date September 15: Last Day Rush for Filing Income Tax Return – Forms, Penalty, Refunds and Key FAQs Explained

The deadline to file Income Tax Returns (ITR) for the financial year ends on September 15, 2025, leaving taxpayers with just one day to complete the process. According to the Income Tax Department, over 6 crore taxpayers have already filed their returns, while lakhs are still pending. If you are yet to file, here are the most important things you must know about forms, penalties, and refunds before submitting your return.

Which ITR form should you choose?

• ITR 1 (Sahaj): For individuals with income up to ₹50 lakh.
• ITR 2: For individuals and Hindu Undivided Families (HUFs) with no income from business or profession.
• ITR 3: For individuals and HUFs having income from business or profession.
• ITR 4: For resident individuals, HUFs, and firms (other than LLPs) with income up to ₹50 lakh including business or professional income and investment gains up to ₹1.25 lakh.
• ITR-V: Used as an acknowledgment after filing the return.

How can you file ITR?

• Offline (paper form submission).
• E-filing with a digital signature.
• E-filing with Electronic Verification Code (EVC).
• E-filing followed by submitting ITR-V for verification.

Where to file ITR online?

Taxpayers can log in to the Income Tax Department’s official portal incometax.gov.in. Additionally, two official apps – AIS for Taxpayer and Income Tax Department – are available for simplified filing.

Are documents required?

No attachments are needed with the ITR form. However, keep investment proofs, TDS certificates, and other documents handy for verification, if required later.

Do you need to file ITR if you incurred a loss?

Yes. If you wish to carry forward losses to offset against future income, you must file your return.

Can you file ITR after the due date?

Yes, a belated return can be filed under Section 139(4). However, penalties apply under Section 234F.

What is the penalty for late ITR filing?

• ₹5,000 if filed after the deadline.
• Reduced penalty of ₹1,000 if total income is below ₹5 lakh.

Will you get a refund if extra tax is paid?

Yes. Any excess tax paid will be refunded directly to your bank account through ECS transfer.

Why filing ITR on time is important

Not filing ITR within the deadline may lead to penalties, interest, and even legal action. Timely filing ensures compliance, allows you to claim refunds, and helps avoid complications in financial records.