Last date for filing belated IT return for AY25 extended. Details inside

New Delhi: In a big relief for taxpayers, who are yet to file income tax (IT) returns, the Central Board of Direct Taxes (CBDT) has extended the last date for furnishing belated or revised return of income for the assessment year 2024-25 (AY25) to January 15, 2025.

The last date for filing the belated or revised return for AY25 ends on December 31, 2024.

"The Central Board of Direct Taxes, in exercise of its powers under section 119 of the Income-tax Act,1961 (the Act) extends the last date for furnishing belated return of income under sub-section (4) of section 139 of the Act or for furnishing revised return of income under sub-section (5) of section 139 of the Act for the Assessment Year 2024-25 in the case of resident individuals from 31st December, 2024 to 15th January, 2025," CBDT said in a circular on Tuesday.

For taxpayers not subject to audit, the deadline to file income tax return for AY25 was July 31, 2024. In case a taxpayer missed the deadline, a belated return can still be filed by December 31, 2024.

Filing a belated return incurs late fees under Section 234F of the Income Tax Act. If filed after the due date under Section 139(1), a fee of Rs 5,000 applies. However, if the person’s total income is Rs 5 lakhs or less, the late fee is Rs 1,000.