Mumbai: If you are someone who always waits till the last date to file your income tax return, you must be feeling relaxed this year. The government has extended the ITR filing deadline from 31 July to 15 September 2025.
But think again — does this really mean you should wait until September to file your return?
Why Was the Deadline Extended?
This year, there have been some major changes in the ITR forms, especially for people who invest in the stock market. These new changes required more time to update the income tax systems. Also, the TDS (Tax Deducted at Source) details came on the portal only in early June. So, the government gave extra time to help people file their returns without hurry.
All Forms and Utilities Are Now Available
Even though things got delayed, now all forms and tools for tax filing are ready. So the question is — should you file your return now or wait longer? Though the deadline is extended, it's still better to finish the task early. Here's why:
1. You May Get a Quick Refund
If you file your return early, you may get your tax refund sooner. The Income Tax Department processes returns in the order they receive them. So, if some tax was already deducted and you are expecting a refund, filing early helps get it fast.
2. Self-Assessment Tax Is Still Due by 31 July
Even though the return filing deadline is 15 September, self-assessment tax (the extra tax you calculate and pay yourself) should still be paid by 31 July. If you delay this payment, you may have to pay interest or penalty. Many times, you find out at the time of filing that some more tax is due — even a small amount. So, it’s better to do it before July ends.
3. Want to Carry Forward Losses? File on Time
If you had any losses in business or investment last year and want to adjust them in the future (carry forward), you must file your return on time. If you file late, you lose this benefit.
4. Start Early, Stay Stress-Free
Imagine if you wait till September and then the portal becomes slow, OTPs don’t come, or you miss some documents — that will cause a lot of stress. If you prepare now, you’ll have time to collect documents, understand the new forms, and even fix any mistakes later.
5. Avoid Last-Minute Panic
The 15 September deadline gives you time, but that doesn’t mean you should delay. If you have free time today, use it to file your return. Get your refund early and relax knowing one important task is done before time. Last-minute internet issues or stress can ruin your day — so why wait?
