Income Tax Return Last Date FY 2024-2025 and AY 2025-2026

Filing your income tax return on time is crucial to avoid penalties and legal complications. The income tax return last date 2024 marks an important deadline for all taxpayers in India. Whether you are a salaried individual, business owner, or professional, knowing when to file your returns helps you stay compliant with tax regulations.

For financial year 2024-2025, the income tax department has set specific deadlines based on taxpayer categories. Missing the income tax return last date 2024 can lead to additional fees and interest charges that could have been easily avoided with proper planning.

This article will outline all important tax filing dates for FY 2024-2025 (Assessment Year 2025-2026), penalties for late submission, and how to prepare efficiently. We will also look at how financial planning, including home loans from Bajaj Housing Finance, can help in tax optimisation.

Income tax return last date for FY 2024-2025

The income tax return last date 2024 for most individual taxpayers is July 31, 2025. This applies to salaried persons, pensioners, and those with income from property or investments who are not subject to tax audit requirements.

The Income Tax Department strictly enforces this deadline. Filing your return before the income tax return last date 2024 ensures you avoid late fees and can claim any refunds promptly. Early filing also gives you time to correct errors if needed.

Income tax filing due dates for FY 2024-25 (AY 2025-26)

Different categories of taxpayers have different deadlines for filing their income tax returns. Below is a table showing the key dates:

These dates are crucial to remember as the income tax return last date 2024 varies based on your filing category. Mark these dates in your calendar to ensure timely compliance with tax regulations.

Consequences of missing the ITR filing deadline

Missing the income tax return last date 2024 triggers several penalties and complications. The Income Tax Department imposes a late filing fee under Section 234F, which can be up to Rs. 5,000 depending on your income level.

For taxpayers with income below Rs. 5 lakhs, the maximum penalty is Rs. 1,000. For others, if filing is done after the income tax return last date 2024 but before December 31, 2025, the penalty is Rs. 5,000.

Apart from penalties, late filing has other consequences:

• Interest charges of 1% per month on unpaid tax under Section 234A
• Loss of the right to carry forward certain losses to future years
• Delayed processing of any refunds due to you
• Increased scrutiny from tax authorities

Homeowners with loans can face additional issues. Those claiming tax benefits on home loans from institutions like Bajaj Housing Finance must file returns on time to secure these deductions properly.

Most important date for income tax return filling for FY 2025-2026

For the FY 2025-2026 (AY 2026-2027), the key dates are projected to follow similar patterns as previous years. The income tax return last date 2024 serves as a reference point for planning ahead.

Planning ahead for these dates is wise, especially if you have investments or home loans from Bajaj Housing Finance that offer tax benefits and require documentation during filing.

TDS payment due dates for FY 2024-25

Tax Deducted at Source (TDS) has its own schedule of payment dates that companies and deductors must follow:

Timely TDS payments ensure that your Form 26AS reflects all tax credits correctly before the income tax return last date 2024, making your filing process smoother.

TCS payment due dates for FY 2024-25

Tax Collected at Source (TCS) follows similar payment schedules to TDS. Sellers collecting TCS must deposit it as per the following schedule:

Understanding these dates is important if you purchase high-value items where TCS applies. The income tax return last date 2024 is when you need to reconcile all TCS payments in your final return.

For homebuyers, some property transactions involve TCS. When applying for a Bajaj Housing Finance Home Loan, their advisors can guide you on TCS implications for property purchases, helping you plan your taxes better.

How to apply for Bajaj Finserv Home Loan

Securing a home loan from Bajaj Housing Finance is straightforward and can offer tax benefits to reduce your tax liability:

• Click on the 'APPLY' button on the home loan section of the Bajaj Finserv website.
• Enter your personal details including name, mobile number, and employment type
• Select your preferred loan type (fresh loan, balance transfer, or top-up)
• Verify your phone number through OTP
• Provide additional details like monthly income and required loan amount
• Submit your date of birth, PAN number, and occupation details
• Click "Submit" to complete your application

A Bajaj Housing Finance representative will contact you to guide you through document submission and verification. Proper documentation of your home loan is essential for claiming tax benefits before the income tax return last date 2024.

Eligibility criteria to get home loan from Bajaj Finserv

To qualify for a Bajaj Housing Finance Home Loan with attractive interest rates, you must meet these criteria:

• Indian citizenship with residence in India
• Age requirement: 23-67 years for salaried applicants, 23-70 years for self-employed professionals (at loan maturity)
• CIBIL score of 725 or higher for optimal interest rates
• Steady employment as a salaried employee, professional, or self-employed individual
• Documents required for home loan include KYC papers, income proof (salary slips or P&L statements), and 6 months of bank statements
• Property documents that meet legal requirements

The home loan interest rate starts from 8.25%* p.a, with loans available up to Rs. 15 crore* and flexible repayment options up to 32 years. These benefits make Bajaj Housing Finance an excellent choice for property financing.

Plan your taxes and home financing together

Understanding the income tax return last date 2024 is just one aspect of financial planning. Combining tax planning with smart home financing can yield significant benefits. Bajaj Housing Finance Home Loans offer competitive interest rates starting from 8.25%* p.a, making property ownership more affordable.

The tax benefits on home loans can substantially reduce your taxable income. Principal repayments qualify for deductions under Section 80C (up to Rs. 1.5 lakh), while interest payments allow deductions up to Rs. 2 lakh under Section 24B.

For those looking to upgrade or renovate their homes, Bajaj Housing Finance also offers top-up loans up to Rs. 1 crore. These funds can be used for home improvements, education, or other needs without restrictions on usage.

Key benefits of choosing Bajaj Housing Finance for your home loan include:

• Quick approval within 48 hours* of application
• No foreclosure charges for floating rate loans
• Flexible repayment tenure up to 32 years
• Balance transfer facility with top-up loan options
• Access to over 5,000 pre-approved projects for simplified processing

Remember to file your income tax return before the income tax return last date 2024 to claim these valuable tax benefits on your home loan. Visit the Bajaj Housing Finance website today to calculate your EMI and apply for a home loan that fits your budget and tax planning needs.