The Income Tax Department has extended the last date for resident individuals to file a belated Income Tax Return (ITR) for Assessment Year (A.Y.) 2024-25 to January 15, 2025, with a penalty for late filing. This extension follows an order from the Bombay High Court, as mentioned in Circular No. 21/2024, which directed the government to provide more time for individuals to file their returns.

The original deadline of December 31, 2024, has been extended, giving taxpayers an additional opportunity to file their returns, though late filing penalties still apply. If the total income is less than ₹5 lakh, the penalty is ₹1,000, while for income above ₹5 lakh, the penalty is ₹5,000.

This extension offers relief to resident individuals, helping them meet their tax obligations while minimizing penalties. Taxpayers are encouraged to file their returns by the new deadline to avoid further fines.

For detailed information, taxpayers can refer to Circular No. 21/2024 issued by the CBDT.