Good news for taxpayers: ITR filing deadline extended to September 15; check details
PTC Web Desk: In a major relief to taxpayers, the Central Board of Direct Taxes (CBDT) has extended the due date for filing Income Tax Returns (ITRs) for the assessment year 2025-26. The original deadline of July 31, 2025, has now been pushed to September 15, 2025. The extension is aimed at ensuring a smoother filing process amid significant changes in the structure and content of ITR forms.
According to an official statement from the CBDT, the updated ITR forms for AY 2025-26 have undergone substantial revisions intended to simplify tax compliance, enhance reporting accuracy, and improve transparency. These changes have necessitated additional time for developing and integrating the updated utility systems required for filing.
Moreover, the CBDT highlighted that Tax Deducted at Source (TDS) statements — due by May 31, 2025 — would only begin reflecting in early June. Without the extension, this would have left a very narrow window for taxpayers to reconcile their tax credits and file returns accurately.
“The extension is expected to ease compliance pressures, particularly in light of the recent structural changes, and ensure the integrity of the return filing process,” said the CBDT.
Key changes introduced in ITR Form 5
Earlier this month, the CBDT also rolled out a revised ITR Form 5, introducing several notable changes for AY 2025-26:
A new split within Schedule-Capital Gain, requiring taxpayers to report capital gains separately for transactions before and after July 23, 2024.
Provisions for conditional reporting of capital losses incurred during share buybacks, applicable when related dividend income is declared as “income from other sources,” especially for transactions post October 1, 2024.
The form now includes a reference to Section 44BBC of the Income Tax Act and mandates specifying the TDS section code within Schedule-TDS.
- With inputs from agencies
