ITR deadline today: Checklist to stay penalty-free and claim deductions

ITR deadline: From regime selection to e-verification, here's what to tick off before the ITR deadline ends tonight

The deadline to file income tax returns for all non-audit cases for Assessment Year 2024-25 ends on Monday. Missing the deadline can mean penalties, interest charges, and the loss of key tax benefits.

 

The Income Tax Department had in a recent X post clarified about the extension. “The due date for filing ITRs remains September 15, 2025,” it said. Experts urge taxpayers to make a final check to avoid these costly slip-ups.

 

What if you miss a deadline?

 

Under Section 234F of the Income Tax Act, a late fee is automatically levied:

 

• Rs 1,000 if total income is up to Rs 5 lakh 
• Rs 5,000 if income exceeds Rs 5 lakh

 

“This penalty is levied even if all your tax is already deducted at source (TDS) and no extra tax is due,” says Niyati Shah, chartered accountant and vertical head – personal tax at 1 Finance.

 

There is also interest under Sections 234A, 234B and 234C on unpaid or underpaid taxes. For instance, Section 234A charges 1 per cent per month on unpaid tax from September 16 until filing, which can quickly inflate your final liability.

 

Mandatory form 10-IEA for some taxpayers

 

From AY 2024-25, the new tax regime is the default for individuals and Hindu Undivided Families (HUFs). Those with business, professional or freelance income must file Form 10-IEA if they wish to opt out of the new regime and claim deductions under the old regime.

 

“Form 10-IEA must be submitted on or before the due date for filing ITR. If it is missed, the tax department will automatically apply the new regime and disallow all exemptions like HRA, 80C deductions or housing loan interest,” cautions Shefali Mundra, chartered accountant & tax expert at ClearTax.

 

Common mistakes to watch out for

    

• Waiting until the last minute to file ITR or Form 10-IEA 

• Entering wrong assessment year, PAN or name details 
•   Assuming regime selection in the ITR is enough without filing Form 10-IEA (for business/professional income)

 

Quick filing checklist

 

Experts urge to ensure you tick all these boxes: 

 

• ·  Reviewed pre-filled data: Match income, deductions and TDS with Form 26AS/AIS 
• ·  Filed Form 10-IEA (if required): To stay in old regime if eligible

•  

 

·  Paid self-assessment tax: Avoid interest under Sections 234A/B/C

 

·  Validated bank account: For smooth refund credit

 

·  E-verified your ITR: Using Aadhaar OTP, net banking, or DSC within 30 days

 

·  Saved acknowledgement: For future use in loans, visas, or financial proof

 

More than just a penalty

 

Late filing does more than just cost money. It can delay refunds, block carry-forward of certain losses, force you into the new tax regime, and even create hurdles when applying for loans or visas.

 

A day’s delay can add thousands to your tax outgo and reduce financial flexibility. As Shah puts it, “timely filing is no longer optional, it’s a financial safeguard.”