Penalty on Senior citizens
This query is : Resolved
02 July 2025
Hello!... Experts,
Came across a below mentioned article.
Will it be also applicable to Senior Citizens.
Filing ITR-2 as short & long term capital gains are there. Usually paying the exact tax computed by their system on return filing to avoid delay in processing due to refund.
ITR Filing Deadline Extended
The Government of India has extended the deadline for filing ITRs for the assessment year 2025-26. Usually, the deadline for filing income tax returns is July 31, 2025; however, the deadline has now been extended to September 15, 2025. This deadline is only applicable to non-audit taxpayers (most salaried individuals and small business owners).
But any taxes that are due, such as final tax or self-assessment tax, must still be paid before July 31, 2025. Taxpayers making payments of these taxes after the due date may suffer consequences such as interest and penalty, even if the return is filed by September 15, 2025.
Read more at: https://studycafe.in/itr-filing-major-income-tax-changes-to-take-effect-from-july-1-384006.html
Thanks in advance.
Came across a below mentioned article.
Will it be also applicable to Senior Citizens.
Filing ITR-2 as short & long term capital gains are there. Usually paying the exact tax computed by their system on return filing to avoid delay in processing due to refund.
ITR Filing Deadline Extended
The Government of India has extended the deadline for filing ITRs for the assessment year 2025-26. Usually, the deadline for filing income tax returns is July 31, 2025; however, the deadline has now been extended to September 15, 2025. This deadline is only applicable to non-audit taxpayers (most salaried individuals and small business owners).
But any taxes that are due, such as final tax or self-assessment tax, must still be paid before July 31, 2025. Taxpayers making payments of these taxes after the due date may suffer consequences such as interest and penalty, even if the return is filed by September 15, 2025.
Read more at: https://studycafe.in/itr-filing-major-income-tax-changes-to-take-effect-from-july-1-384006.html
Thanks in advance.
02 July 2025
Yes, it was applied earlier also. So, to avoid any interest penalty, you may pay estimated tax liability before 31ay July.
02 July 2025
Usually Seniors are exempted to pay advance tax. So in this case will it be still applicable.
Also just now came across another article which states it would not be applicable.
ITR filing due date extended but deadline to pay final tax without penalty is July 31 or Sept 15 now for FY 2024-25? - The Economic Times https://m.economictimes.com/wealth/tax/itr-filing-due-date-extended-but-deadline-to-pay-final-tax-without-penalty-is-july-31-or-sept-15-now-for-fy-2024-25/articleshow/122018340.cms
Is there any notification issued by the department in this matter.
Thanks
Also just now came across another article which states it would not be applicable.
ITR filing due date extended but deadline to pay final tax without penalty is July 31 or Sept 15 now for FY 2024-25? - The Economic Times https://m.economictimes.com/wealth/tax/itr-filing-due-date-extended-but-deadline-to-pay-final-tax-without-penalty-is-july-31-or-sept-15-now-for-fy-2024-25/articleshow/122018340.cms
Is there any notification issued by the department in this matter.
Thanks
02 July 2025
There is no notification as on date but it is also applicable to senior citizens. Extension is only applicable for ITR filing. Not for tax payable.
27 September 2025
Good luck..
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