Due date of paying tax for senior ciitizens

Tax queries 564 views 4 replies
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None
320 Points Joined January 2012

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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On 11 June 2025 at 21:28 Report
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Master in Accounts & high court Advocate
9101 Points Joined December 2011

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.

1 Reply
On 11 June 2025 at 21:46
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None
320 Points Joined January 2012

Thank you for the details. 

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On 12 June 2025 at 14:08
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Mr
968 Points Joined June 2023

@ Rani

Plz refer my post and replies on the same subject.

Rgds

1 Reply
On 13 June 2025 at 14:44
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None
320 Points Joined January 2012

Thanks.  Really informative.

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On 14 June 2025 at 10:04


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