The process of filing Income Tax Returns (ITR) for the assessment year 2025–26 is underway, and a large number of taxpayers have already submitted their returns. While many are now waiting for their refunds, the Income Tax Department has issued a caution—severe penalties could be imposed for various errors or non-compliance during the filing process.
Why the Income Tax Department May Penalize You
Despite timely submissions, several returns are cancelled by the department each year due to errors or misleading information. Here are some of the key reasons why taxpayers could face heavy penalties:
Concealing income or submitting false information.
Failure to disclose international transactions or foreign assets.
Non-compliance with official guidelines issued by the department.
Failing to conduct mandatory audits for applicable accounts.
Filing ITR after the due date or delaying the submission without valid reason.
Taxpayers are urged to exercise caution and accuracy to avoid financial penalties or legal complications.
What Is the Last Date for Filing ITR?
Contrary to popular belief, the last date to file ITR has been extended this year. The Income Tax Department has officially extended the deadline to September 15, 2025. Earlier, the due date was July 31, 2025, but now taxpayers have over two more months to complete their filing without incurring penalties.
Important Precautions While Filing ITR
Several ITRs are rejected or cancelled each year, even after submission. To avoid such issues, the department has recommended that taxpayers:
Download the correct form from the official website.
Read all instructions carefully before filling in the details.
Ensure all information is accurate and up to date.
File returns well before the deadline to prevent last-minute errors or technical glitches.
Filing ITR is a crucial financial responsibility. To ensure a smooth processing of refunds and avoid any penalties, taxpayers are advised to remain vigilant and follow the prescribed procedure accurately.
