Final Opportunity to Get Your Income Tax Refund
The last day of the year, i.e., 31st December, is not only for holidays and celebrations. This is a very important date for those taxpayers who have not yet filed their Income Tax Return (ITR). For those who missed the deadline, this is the last chance to file a billed or revised ITR for 2024-25. They can also claim their outstanding tax refund to this day.
It is mandatory for taxpayers to file the billed and revised ITR on the Income Tax Portal by 31 December 2025. After this, only the option of filing ITR-U remains, which has various restrictions. This is the last chance to amend the return and claim a refund without incurring additional penalties or serious consequences.
ITR can be filed by 31st December for the financial year ending. This is the last date when any refund from the previous year can be claimed.
Direct damages for missing deadlines: Many people forget that after December 31, both late ITRs and refunds are closed. If the return is not filed by this date, not only is the right to a refund lost, but also the opportunity to make any corrections in the previously declared income.
Why is it important to file ITR on time? Timely filing of returns makes tax compliance easier and keeps tax records clean. This applies to both salaried professionals and small businesses. Filing billed returns by December 31 is a safety net. This reduces the risk of refund rejection, avoids tax notices, and starts the new year on a financially sound note.
What will happen if December 31 is missed? If the taxpayers who missed the September deadline do not file their billed ITR by December 31, the Income Tax Department will not issue any refund to them. Filing returns on time not only secures refunds but also avoids any tax disputes in the future.
