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Income Tax Return: Income Tax Department has increased the last date for filing income tax returns from 31 July, 2025 to September 15, 2025. This will give relief to the common people, but the government may have to bear the loss. In fact, due to increasing the deadline, refund claims may have to pay more interest, including both Indian and NRI taxpayers. & Nbsp;
Taxpayers will increase income & nbsp;
Under Section 244A of the Income Tax Act, the Income Tax Department has to pay 0.5 percent interest. That is, the more delayed the refund, the more interest will be paid. However, it is also important to keep in mind that this interest found on tax refund will come under tax as income from other sources in the respective year. By the way, many taxpayers will not have any problem with this increased income because this income is still tax free for them because in FY 2025-26 (FY 2026-27), non-metabolic and salaried persons can avail Rs 12 lakh and Rs 12.75 lakhs respectively due to increase in tax exemption under Section 87A."text-align: justify;"> So much interest will have to be paid
Suppose a taxpayer files ITR till July 15, 31 July, 2025 and has to get a refund of Rs 25,000 before the last deadline. When the refund is processed by 31 July, he will get 500 rupees as interest.
However, if the deadline increases, now if he files ITR by September 15, 2025 and there is a refund process on 31 September, then he will receive Rs 750 on a refund amount of Rs 25,000, which is more than Rs 500 to 33 percent. However, the interest on refund will also be considered as your income and under the Income Friend Other Source you will also have to pay tax on it. & Nbsp;
Overall, interest will be paid from April 1, 2025 under Section 244A on the amount received on the refund. Even though ITR was admitted after 31 July 2025, but within September 15, 2025. & nbsp;
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