ITR Deadline Extended: For those stuck in audit cases or worried about deadlines, there’s some relief. The Income Tax Department announced on Wednesday, October 29, 2025, that the last date for filing audit reports and Income Tax Returns (ITRs) has been extended to December 10, 2025.

CBDT Extends ITR Date
The Income Tax Department shared on the social media platform X that the Central Board of Direct Taxes (CBDT) has decided to extend the previous deadline of October 31 to December 10. The Income Tax Department stated in the post that for taxpayers who are required to file returns under Section 139(1) for the assessment year 2025-26 (whose due date was previously October 31, 2025), the due date has now been extended to December 10, 2025. This decision was taken by the Central Board of Direct Taxes (CBDT).

This means that taxpayers who are required to be audited can now file their returns by December without penalty.

The Central Board of Direct Taxes (CBDT) has decided to extend the due date of furnishing of Return of Income under sub-Section (1) of Section 139 of the Act for the Assessment Year 2025-26, which is 31st October 2025 in the case of assessees referred in clause (a) of Explanation… pic.twitter.com/w7Hl94Y9Ns

— Income Tax India (@IncomeTaxIndia) October 29, 2025

The deadline had been extended before.
Initially, the deadline for submitting tax audit reports was September 30, 2025. It was later extended to October 31, following demands from tax professionals and CA institutes. However, as this deadline approached, the department extended the deadline again, extending it to November 10, 2025, and now to December 10, 2025.

What if the deadline is missed?
If a company or taxpayer fails to submit a tax audit report on time, they may be subject to a penalty under Section 271B of the Income Tax Act. Mint, in a report, stated that this penalty can be up to 0.5% of total sales or a maximum of ₹150,000. However, if the taxpayer proves that there was a valid reason for the delay, they may be exempted from the penalty.

Who is required to undergo an audit?

Taxpayers with business turnover exceeding ₹1 crore in a financial year, or up to ₹10 crore when cash transactions constitute less than 5% of total transactions, are required to undergo an income tax audit. Professionals with annual income exceeding ₹50 lakh are also required to undergo a tax audit. Professionals should also have their accounts audited if their annual gross receipts exceed ₹50 lakh.

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While filing income tax return, it is mandatory to enter all the required information correctly and upload the required documents. Usually every year many taxpayers make some common mistakes. Due to this, their return gets suspended and they are not able to get refund and have to file the return again.

Not choosing the right form: There are forms from ITR-1 to 7 for different types of taxpayers. Forms have been prescribed for different taxpayers based on the sources of income. Filling the wrong return form will make your ITR invalid and you will have to file the return again. So always use the correct form.

Not disclosing the source of income: Declare all sources of income. Not doing so can prove costly for you. Concealing income from other sources can attract a penalty of 50% to 200% of the tax liability. Information related to other income and liabilities including foreign income, assets, accounts and shares must be given in ITR.

Not giving information about big expenses: If you have made big expenses like your annual electricity bill is more than one lakh, if you have spent more than 10 lakh on credit card or have made big expenses like buying an expensive car or have made big expenses on foreign travel, then you must give information about it and show coherence between income and expenses. If this is not done, you may get income tax notice and refund may be stopped.

Not disclosing exempted income: A big mistake while filing income tax return is not declaring exempted income. Agricultural income is tax free. If you are earning income from farming, then definitely tell it. Profit share received from partner firm is tax free. If you earn income from this, then enter it in the prescribed column.

Not cross checking: Before filing ITR, cross check Form 26AS and Form 16 or TDS certificate. If the details are different, find out the reason and get it corrected from the employer. If you do not do this, the refund you get may be reduced.

Error in Form 16: If you have changed your job, then give the Form 16 received from the old employer to the new employer. So that the new employer can deduct the correct TDS. You can get the proper benefit of standard deduction. If you do not give the information, it is possible that you have got the benefit of standard deduction from both the employers, which is wrong. You may have to pay more tax at the time of return.

Giving incorrect information: Personal details like name, address, mail ID, phone number, PAN, date of birth, etc. should be written correctly in the ITR. These should match with your PAN card. If you are claiming a refund, your bank details should also be correct.

Wrong claim of HRA: Under the old tax regime, salaried persons could claim HRA exemption as part of their salary component. Rent agreement, rent receipts and PAN number of the landlord for rent up to Rs 1 lakh per annum are required for valid claims. Residence in the rented premises is also a must as the department can verify your claim.

Not doing e-verification: E-verification is necessary after filing ITR. If for some reason you are unable to do this, then sign the ITR-V form within 30 days of filing and send it to the Centralized Processing Center (CPC) by post.

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Belated ITR: If a taxpayer is unable to file a return by the last date for filing income tax returns, then he can file a belated return. Income Tax has made this provision keeping in mind such taxpayers, who are unable to file returns by the stipulated time due to some compulsion. There is a penalty for filing belated returns. Along with this, interest has to be paid on tax. It is important to know about it properly before filing belated returns.

Who can file belated returns?

The last date for filing Income Tax Return is generally 31 July for individual taxpayers. The deadline for filing income tax returns for the financial year 2023-24 was 31 July, which has passed. If a taxpayer has not filed the return by 31 July, then he can file a belated return.

Till what date can a belated return be filed?

Belated returns can be filed till 31 December of the respective financial year. This means that if you have not filed the return by 31 July this year, then you can file it till 31 December.

How much is the penalty?

Penalty is levied under section 234F of the Income Tax Act for filing a belated return. If the taxpayer’s income is less than Rs 5 lakh, then the penalty is Rs 1,000. If the taxpayer’s income is more than Rs 5 lakh, the penalty is Rs 5,000. Apart from this, if tax is due on the taxpayer, then under section 234A, he will have to pay interest on it.

Will loss carry forward be allowed?

On filing a belated return, certain losses like business loss and capital loss are not allowed to be carried forward to the subsequent years. However, losses under the head of ‘income from house property’ can be carried forward.

Is revised return allowed?

If you feel that you have made a mistake in the belated return, you can file a revised return till December 31.

Also Read- ITR Refund: Have you not received your income tax refund? Know what you need to do

Will the return have to be verified?

After filing the belated return, it will be necessary to verify it. Taxpayers can verify it online through means like Aadhaar OTP, netbanking. Another way is that they can sign a copy of ITR-V and send it to the Centralized Processing Center (CPC) within 120 days.

What is the process of filing a belated return?

The process for filing a belated return is the same as that of filing a normal return. You have to go to the e-filing portal of the Income Tax Department. Then you have to log in with your user ID and password. Then you have to select the ITR form based on your source of income. Then you have to select the correct assessment year. You have to enter your income details, deductions and tax. After paying the tax, the return has to be submitted. After that it has to be verified.

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