Income-Tax Bill 2025 keeps ITR filing dates unchanged for taxpayers for 2026-27

The newly introduced Income-Tax Bill 2025 has opted to retain the existing deadlines for Income Tax Return (ITR) filing, providing clarity and continuity for taxpayers across different categories. The definition of the due date remains the same, referring to the date by which a taxpayer must file their ITR in the financial year following the relevant tax year.

Individual and salaried taxpayers are to submit their returns by 31 July, echoing the current timeframe. This decision reflects a commitment to maintaining stability in the tax filing process, thereby reducing confusion among taxpayers who have been adhering to these dates for years. 

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For taxpayers whose accounts require auditing, the submission deadline is 31 October. This applies to both companies and individuals in similar circumstances, including partners of audited firms and, where applicable, their spouses. Furthermore, those assessees expected to provide a report under section 172 of the bill have a filing deadline set for 30 November.

This continuity in deadlines is expected to facilitate a smoother compliance process for businesses and professionals who must ensure their financial statements are accurately audited. The bill's provisions effectively align with current practices, ensuring minimal disruption to taxpayers' annual routines. 

The bill also allows for taxpayers to file revised and belated returns. Taxpayers can file an ITR revision "at any time within nine months from the end of the relevant tax year, or before the completion of the assessment, whichever is earlier." This clause presents a necessary flexibility, enabling taxpayers to rectify any discrepancies or omissions in their filings with ample time before assessments are finalised. The legislation thereby acknowledges the complexities involved in tax filings and offers a corrective timeframe to address them effectively. 

Another notable feature of the bill is the provision for the central government to exempt certain classes of individuals from filing a return of income, a clause already present in the current tax framework. This measure offers the government a tool to simplify tax compliance for specific segments of the population, potentially alleviating administrative burdens where applicable. However, this aspect of the bill remains unchanged, preserving existing exemptions and maintaining the status quo for those beneficiaries.

Overall, the Income-Tax Bill 2025 continues to uphold established practices for ITR filing due dates, ensuring consistency and predictability in the tax landscape. By reinforcing current deadlines and provisions, the bill seeks to support taxpayers in fulfilling their obligations efficiently while allowing for necessary adjustments through revised filings. As the bill proceeds through legislative processes, its adherence to familiar timelines is expected to be welcomed by taxpayers who rely on this predictability for their tax planning.