New Delhi, June 24 -- The Income Tax (I-T) department has already extended the due date to file income tax return for FY 2024-25 from July 31, 2025, to September 15, 2025.

And thanks to the extension given on May 27, there will obviously be no interest or penalty payable for filing income tax return after July 31.

Under 234A, taxpayer has to pay 1 percent interest on tax liability when return is filed after the due date but since the due date has been extended, there will be no additional interest.

"By virtue of deadline extension, there will be no interest payable under section 234A. However, provisons of 234B and 234C will be applicable which kick in when there is delay in payment of advance tax," says CA Pratibha Goel, a Delhi-based...