ITR filing due date on 15th September 2025

Importance of Filing ITR on Time

Filing your Income Tax Return (ITR) is not just a legal requirement, but also an important step in maintaining your financial credibility. While many people delay or ignore timely filing, doing so can create hurdles when you need financial assistance, especially from banks and insurance companies.

Why Do Banks Prefer Timely Filed ITRs?

Banks prefer ITRs filed within the due date (15th September for AY 2025-26) while processing loans, credit applications, or other financial verifications.

When people are in urgent need of funds, they often file updated returns of previous years all at once and approach banks. However, such returns are not accepted by banks, since only timely filed returns reflect financial discipline and reliability.

Key Reasons to File ITR on Time

1. Carry Forward of Losses

Filing your return within the due date allows you to carry forward certain losses (like business loss, capital loss, etc.) to future years. This helps you save tax in subsequent years. If you miss the deadline, you lose this benefit.

2. PAN Linking – Complete Transparency

With PAN now linked to Aadhaar, bank accounts, Demat accounts, and other financial systems, the Income Tax Department already has access to your financial data. Delayed or non-filing of returns can easily attract scrutiny.

3. Proof of Income

For individuals with lower income or even below taxable limits, filing an ITR is still crucial. It acts as the only official proof of income, which may be required for visa applications, government subsidies, education loans, or other financial dealings.

4. High-Value Insurance Policies

When applying for high-value life or health insurance policies, insurance companies often ask for your last 2–3 years’ ITR as income proof. Without timely filed ITRs, your application may get rejected or your coverage limited.

5. Financial Discipline & Creditworthiness

A history of regular, timely ITR filing establishes you as financially responsible. This improves your credibility with banks, NBFCs, insurance companies, and even while applying for credit cards or government schemes.

Final Word

Filing ITR every year — and filing it on time — is more than just a compliance requirement. It is your financial safety net and helps you in multiple ways, from tax benefits to loan approvals to insurance eligibility.

📅 Deadline for AY 2025-26: 15th September 2025

Do not wait until the last minute. File your ITR on time and safeguard your financial future.