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Due date of paying tax for senior ciitizens

Rani (None) (280 Points)

11 June 2025

Hello,

Income tax dept has extended the last date for filing returns to Sep 15,2025. ITR-2 utility is not yet relased.

A senior citizen who is liable to pay tax should pay the tax before July 31,2025 even if he/she is filing the returns after July 31, 2025 and before Sept 15,2025? If tax is paid after July 31, 2025 will the person has to pay penalty?

Thanks in advance,

Rani

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Rama chary Rachakonda (Master in Accounts & high court Advocate email ID:ramachary64@gmail.com voice no:9989324294) (8132 Points)
Replied 11 June 2025

Senior citizens liable to pay tax should pay their tax liability before July 31, 2025, to avoid interest charges under Section 234A of the Income Tax Act.

Even if the ITR filing deadline has been extended to September 15, 2025, paying tax after July 31 may attract interest charges.

*Interest Charges on Late Tax Payment* - Interest under Section 234A is charged at 1% per month or part thereof on the unpaid tax amount from the original due date (July 31) until the date of filing the return. - This interest applies regardless of the extended ITR filing deadline.

*Penalty for Late Tax Payment* - There's no specific penalty for late tax payment, but interest charges apply as mentioned above. -

However, if the senior citizen files their ITR after the due date (July 31), they might face a late filing fee under Section 234F, which is: - ₹1,000 if the total income is up to ₹5 lakhs - ₹5,000 if the total income exceeds ₹5 lakhs

*Advance Tax Payment* - Senior citizens are exempt from paying advance tax if their income doesn't exceed the taxable limit or if the tax liability is below ₹10,000.

However, if they have other income sources, such as rental income or business income, they might need to pay advance tax.

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