Mysuru, Sept. 7- Any person who receives any income by way of Salary, Pension, Interest, Contracts Amount, Commission, Profession fee, etc., and who have NOT filed their Income Tax Return, for the FY 2024-25 (AY 2025-26), shall file on or before Sept. 15, 2025, which is an extended due date.
This excludes those assesses who are required to get their accounts audited under the Income Tax Act.
Under Section 234F, late filing of Income Tax Returns attracts a levy by way of fee.
Therefore, the Income Tax Return has to be filed before the due date (15.9.2025).
Else, there shall be a levy of late fee of Rs. 5,000 between 16.9.2025 to 31.12.2025.
If the total income of the person does not exceed five lakh rupees, the levy of fee payable under this section shall be Rs. 1,000 only.
Before filing the Income Tax Return, it is suggested to verify and report the transactions appearing in Annual Tax Statement (FORM 26AS), Annual Information Statement (AIS) and Taxpayer Information Summary (TIS) wherever applicable.
Wherever there is any doubt, reference may be made to the provisions of the Income Tax Act, 1961, the Income Tax Rules, 1962, relevant Finance Act and/or circulars and/or notifications, stated N.D. Shreenivaas of Bhavani Associates, Mysuru.
This post was published on September 7, 2025 5:59 pm