Income Tax Calendar For India: Key Tax Filing Deadlines You Must Know

2025-06-06

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Filing your income tax return on time is not just a legal requirement, but it also helps you stay financially organised and avoid penalties. If you are a salaried employee, run a business, or work for yourself, keeping track of tax dates is important. In this blog, you’ll learn key income tax deadlines in India so you can plan better and avoid the last-minute rush.

Key Takeaways

File ITR on time to avoid penalties and get faster refunds.
ITR is a must if your income crosses the exemption limit or you want a refund.
Late filing may cost up to ₹5,000 and tax-saving benefits.
Belated returns are allowed till 31 December 2025 with extra charges.
Keep documents ready to file accurately and on time.

Why Filing Your ITR on Time Is Always Worth It?

Filing your income tax returns before the deadline builds your financial credibility, unlocks key benefits and protects you from the penalties. Whether you are a salaried employee or a business owner, timely IT filing provides you the major benefits. Some of them are as follows:

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You Get Proof of Your Income: Your ITR serves as official proof of income and can be used in applying for a loan or visa. Banks and financial institutions accept ITRs as trusted documents through which you can submit credit card or loan applications. By filing on time, you create a verified track record that supports your financial goals and helps in meeting documentation needs without any delays.
You Get Faster Visa Approvals: When you apply for a visa in the US, UK or Canada at embassies, they generally ask for past ITRs during visa applications. These documents reflect your financial stability and tax compliance. If you file your ITR on time each year, you strengthen your case for quicker visa approvals and make your travel experience smoother.
You Secure Your Tax Refund: If excess tax has been deducted from your salary or investments, the only way to claim it back is by filing your ITR. Filing on time speeds up the refund process, ensuring that the money reaches your bank account sooner. You avoid unnecessary delays and enjoy better control over your finances throughout the year.
You Can Carry Forward Losses: You can carry forward certain financial losses - like those from capital markets or a business - to future years only if you file your return on time. This helps you reduce your tax liability in the years to come. By skipping or delaying your filing, you miss out on this benefit and lose a valuable opportunity to optimise your tax savings.
You Avoid Penalties: Missing the deadline attracts a penalty of up to ₹5,000 under Section 234F. You may also incur interest charges if your taxes are unpaid. Filing on time helps you avoid these extra costs. It also keeps your tax record clean, which is helpful for future loans, refunds, or legal compliance.

Did You Know?

In 2025, the total number of income tax returns filed increased by 1.1% to ₹14.06 crore, compared to ₹13.91 crore in 2024.

Source: Accounting Today

Who Must File an ITR in India?

Filing an income tax return is mandatory for many individuals and entities in India. If you fall under any of the categories listed below, you must file your ITR for the applicable financial year.

Individuals:

You must file your ITR if your gross total income exceeds the basic exemption limit based on your age:

₹2.5 lakh if you're below 60 years.
₹3 lakh if you're a senior citizen (60 to 79 years).
₹5 lakh if you're a super senior citizen (80 years and above).

You also need to file your return in the following cases:

You want to claim a tax refund.
You wish to carry forward capital or business losses.
You deposited more than ₹1 crore in a current account.
You spent over ₹1 lakh on electricity bills.
Your foreign travel expenses exceeded ₹2 lakh.
You own foreign assets or have foreign income.

Hindu Undivided Families (HUFs), AOPs, and BOIs:

If you belong to a Hindu Undivided Family (HUF), Association of Persons (AOP), or Body of Individuals (BOI) and your total income exceeds the exemption limit, or you earn taxable income from any source, you are required to file an ITR.

Businesses and Professionals:

If you run a business or practice a profession, filing ITR is mandatory, especially when you opt for presumptive taxation under:

Section 44AD (for businesses)
Section 44ADA (for professionals)
Section 44AE (for transporters)

Even if your income is within limits, you must file if you’re using these schemes.

Companies and LLPs:

All registered companies and limited liability partnerships (LLPs) must file income tax returns, regardless of profit, loss, or revenue. This includes startups, dormant companies, and inactive LLPs.

Taxpayers Under Audit or Transfer Pricing Rules:

You must file an ITR if:

Your business falls under the audit requirements under Section 44AB
You are involved in international or specified domestic transactions that require a transfer pricing report under Section 92E

Ensure you meet these deadlines to avoid penalties and maintain tax compliance.

Tax Filing Deadlines You Should Not Miss in 2025

For every financial year, the Income Tax Department of India prescribes specific deadlines for different categories of taxpayers to file their Income Tax Returns (ITR). The deadlines may vary based on your taxpayer category, such as individuals, businesses, companies, or those requiring audits or transfer pricing reports.

Category of Taxpayer	ITR Filing Deadline
Individuals, HUFs, AOPs, BOIs (not subject to audit)	15 September 2025
Businesses or Professionals with audited accounts	31 October 2025
Domestic Companies	31 October 2025

What If You Miss the ITR Filing Deadline?

Missing the due date for filing your income tax return is not the end of the road. You still have the option to file a belated return.

A belated return lets you file your ITR even after the deadline has passed. While this keeps you compliant, you will need to pay a late filing fee and interest on any unpaid tax. Also, you won’t be able to carry forward certain losses, like capital or business losses, for future tax adjustments.

The good news is that you can still claim eligible deductions and exemptions while filing a belated return. The deadline for submitting a belated return is 31 December of the assessment year, unless the government announces an extension.

Final Thoughts

Filing your income tax return on time helps you avoid penalties, stay financially organised, and access benefits like faster refunds and smoother visa approvals. It's a vital step toward building a strong financial profile. At Canara HSBC Life Insurance, we understand the value of planning. Our range of insurance and tax-saving solutions is designed to support your financial goals, ensure peace of mind, and help you make the most of every financial year.

Glossary

Income Tax Return (ITR): A document you file with the IT department showing income, taxes paid, and tax due for a financial year.
Assessment Year (AY): The year after the financial year in which your income is reviewed and you file your tax return.
Gross Total Income: Total income from all sources before any deductions under Section 80C to 80U is applied.
Belated Return: A tax return filed after the due date, which attracts penalties and disallows certain tax benefits.
Presumptive Taxation Scheme: A simplified tax method where income is declared at a fixed rate without maintaining detailed accounts.

FAQs

The due date for individuals, HUFs, AOPs, and BOIs not subject to audit is 15 September 2025. Filing after this date may attract penalties and late fees under Section 234F.

Yes, you can file a belated return after the due date, but you will have to pay a late filing fee and may lose the ability to carry forward certain losses. The belated return deadline for AY 2025–26 is 31 December 2025, unless extended.

Filing may not be mandatory if your income is below the exemption limit. However, you must file if you want a tax refund, wish to carry forward losses, or meet specific conditions such as high-value transactions or owning foreign assets.

You may have to pay a penalty of up to ₹5,000 under Section 234F. Additionally, interest may apply on unpaid taxes, and you may lose tax benefits like carrying forward losses.

Key documents include Form 16, Form 26AS, bank statements, investment proofs, loan certificates, and TDS certificates. Businesses may also need balance sheets and audit reports, depending on their filing category.

Disclaimer - This article is issued in the general public interest and meant for general information purposes only. The views expressed in this blog are solely those of the writer and do not necessarily reflect the official policy or position of Canara HSBC Life Insurance Company Limited or any affiliated entity. We make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability, or availability with respect to the blog or the information, products, services, or related graphics contained in the blog for any purpose. Any reliance you place on such information is therefore strictly at your own risk. You should consult with a qualified professional regarding your specific circumstances before taking any action based on the content provided herein.

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