Last Updated:September 05, 2025, 10:42 IST

Income tax practitioners advise taxpayers to file now without any delay, and warns against last-minute ITR filings as portal slowdowns are common in the final hours of filing.

ITR Deadline 2025.

The clock is ticking for lakhs of taxpayers who are yet to file their income tax returns for Assessment Year 2025-26. The government had extended the original July 31 deadline for non-audit cases to September 15, 2025, but with just days left and no word on another extension, individuals should not bank on last-minute relief.

So, who exactly has to meet this September 15 deadline?

Salaried and Non-Audit Category Taxpayers

The extended deadline is meant for taxpayers who do not require a tax audit. This includes:

• Salaried individuals whose annual income exceeds the basic exemption limit — Rs 2.5 lakh for those below 60, Rs 3 lakh for senior citizens, and Rs 5 lakh for those above 80 under the old tax regime. However, in the new tax regime, the limit is Rs 3 lakh for all categories for FY 2024-25 (AY 2025-26).
• Freelancers and professionals with income below the audit threshold.
• Small traders and businesses that are not covered under Section 44AB of the Income Tax Act.
• Investors who earned capital gains from equities, mutual funds, property, or gold, but are not subject to audit.
• Resident taxpayers with foreign income or assets, who are required to file returns irrespective of income level.

ITR Filing 2025: Who Gets More Time?

Taxpayers whose books need to be audited — businesses with turnover above specified limits or professionals above the prescribed receipts — have until October 31, 2025.

ITR Filing 2025: What If You Miss The September 15 Deadline?

As the last date to file non-audit ITRs is September 15, a late fee will be charged after this deadline. A late filing fee of Rs 1,000 (on income up to Rs 5 lakh) or Rs 5,000 (income above Rs 5 lakh) applies under Section 234F. Delayed filing also attracts interest on tax due and denies taxpayers the option to carry forward certain losses, such as from capital markets or business.

ITR Filing 2025: Key Checks Before You Hit Submit Filing

Tax experts advise taxpayers to run through a quick checklist before hitting submit:

• Reconcile salary, interest and other income with the Annual Information Statement (AIS) and Form 26AS.
• Ensure capital gains are correctly reported.
• Disclose foreign assets and bank accounts, if any.
• Verify bank account details for refunds.
• Double-check deductions claimed under various sections.

Don’t Wait for the Last Day

Income tax practitioners also said that with portal slowdowns common in the final hours of filing, taxpayers should avoid last-minute filings and do it now. Early filing not only avoids late fees but also ensures faster processing of refunds, crucial for salaried individuals and small taxpayers relying on the money.

Mohammad Haris

Haris is Deputy News Editor (Business) at news18.com. He writes on various issues related to personal finance, markets, economy and companies. Having over a decade of experience in financial journalism, Haris h…Read More

Haris is Deputy News Editor (Business) at news18.com. He writes on various issues related to personal finance, markets, economy and companies. Having over a decade of experience in financial journalism, Haris h… Read More

Read More

Last Updated:September 05, 2025, 09:41 IST

In Mumbai, the price of 24-carat gold stands at Rs 1,06,850 per 10 grams, while 22k gold is available at Rs 97,940 per 10 grams.

Gold Prices Today, September 5.

Gold & Silver Prices Today, September 5: Gold declined on Friday, supported by persistent weakness in the US labour market, which has strengthened expectations of a Federal Reserve rate cut this month. The price of gold rose 0.36% to trade at Rs 1,06,799 per 10 grams, while silver jumped by 0.36% to Rs 1,24,659 per kg in the futures market on the MCX in the early trade.

In Mumbai, the price of 24-carat gold stood at Rs 1,06,850 per 10 grams, while 22k gold was available at Rs 97,940 per 10 grams. Silver was available at Rs 1,26,900 per kg. The prices do not include GST and making charges.

Darshan Desai, CEO of Aspect Bullion & Refinery, said, “Gold prices remain near record highs, supported by persistent weakness in the US labour market, which has strengthened expectations of a Federal Reserve rate cut on September 17, a move that would favour the precious metal. While technical indicators suggest gold may be entering overbought territory after its recent rally, prices are still finding strong support at lower levels.”

This resilience is driven by concerns over the Fed’s independence, a weakening US dollar, and uncertainty surrounding Donald Trump’s tariff policies. All eyes are now on today’s non-farm payrolls data, which is expected to play a crucial role in shaping gold’s short-term direction, he added

Non-yielding gold typically performs well in a low-interest-rate environment.

What Is The Price Of 22kt, 24kt Gold Rates Today In India Across Key Cities On September 5?

Mohammad Haris

Haris is Deputy News Editor (Business) at news18.com. He writes on various issues related to personal finance, markets, economy and companies. Having over a decade of experience in financial journalism, Haris h…Read More

Haris is Deputy News Editor (Business) at news18.com. He writes on various issues related to personal finance, markets, economy and companies. Having over a decade of experience in financial journalism, Haris h… Read More

Read More

Last Updated:September 05, 2025, 07:25 IST

Atul Monga of BASIC Home Loan highlights how fintech, local agents, and partnerships are making home loans more accessible in Bharat’s smaller towns.

In smaller towns, one of the main challenges is that a lot of people don’t have formal income proof or a credit history.

Home loan accessibility in India has long been a challenge, especially beyond metro cities. While urban borrowers often have easier access to credit thanks to formal incomes and established credit histories, millions in Tier 2 and Tier 3 cities continue to face hurdles ranging from lack of awareness to documentation gaps. With the rise of fintechs, local partnerships, and technology-driven solutions, the landscape is gradually shifting.

In this interaction, Atul Monga – CEO & Co-Founder, BASIC Home Loan, shares insights on the biggest challenges, innovations, and the road ahead for making homeownership more inclusive across Bharat.

1- What are some of the biggest challenges in making home loans accessible in smaller towns and cities?

In smaller towns, one of the main challenges is that a lot of people don’t have formal income proof or a credit history. Additionally, financial literacy tends to be lower, which can confuse the loan process. Lack of awareness about loan eligibility, benefits, and the application process often leads to consumer inertia, and many borrowers simply don’t take the first step. Additionally, things like inconsistent documentation, limited lending options, and the need for physical verification of the property further create more friction.

Today, banks and fintech companies are attempting to address this scenario in various ways. The solution lies in a phygital approach, which brings together digital tools and a strong network of local agents. These agents work directly with customers, guiding them step-by-step, building trust, and making sure even those with limited financial paperwork can navigate the process smoothly.

2- What are some of the challenges that people and lenders face when it comes to Last Mile Connect?

Last Mile Connect in home lending can be quite challenging, especially in smaller towns. The digital infrastructure is still developing in many areas, which means things like poor internet access, patchy documentation, and low financial awareness can make it hard for lenders to accurately assess a borrower’s profile or risk level.

Many borrowers feel unsure about navigating the process online without any personal guidance. There’s also a fear of fraud, and the cumbersome paperwork involved can feel overwhelming. Without someone local to assist, even well-intentioned or eligible borrowers often drop off halfway through.

The good news is that things are gradually improving now, thanks to steady advancements in fintech and digital infrastructure that are making loans more inclusive and accessible than ever before.

3- How are fintechs helping people with informal incomes or no credit history get access to home loans?

Fintechs have made home loans more accessible for people without formal incomes or credit history. Traditionally, lenders relied heavily on salary slips and credit scores to determine the borrower’s creditworthiness, but this leaves out a major chunk of the population, especially from the informal sector.

Now, with the help of technology, we are able to look beyond such traditional indicators. By using alternative data like bank transaction patterns, utility bill payments, and digital footprints, we can create a reliable credit tracking system for people who don’t fit the conventional mold.

4- What are the common concerns or roadblocks that first-time homebuyers in unreserved areas usually face?

First-time homebuyers in unreserved or semi-urban areas often struggle with unclear or incomplete property titles, which can create legal complications and make it difficult to get a loan approved. Many of these areas also lack RERA-approved projects, which adds another layer of risk for both buyers and lenders.

There’s often limited awareness about how home loans work, what’s required, how interest rates are structured, or what documents are needed. Another common hurdle is that property values in these regions tend to be modest, but lenders may still have high minimum loan amounts, making it harder for buyers to qualify.

Lenders, Fintechs like BASIC Home Loan, and local real estate developers are working together to bridge the gap and create more accessible loan products, streamline documentation, and guide homebuyers through the process. This collective effort would certainly help unlock home ownership for a segment that has long been underserved.

5- Why is local presence important like field agents or developer tie-ups, important in driving home loan adoption beyond metro areas?

Local presence plays an important role when it comes to building trust, especially in the heartland of Bharat, where digital-only models still feel distant or unfamiliar. For many first-time borrowers, human interaction still matters, and this is where the field agents come in. They don’t just help with the paperwork, but also build confidence, address consumer concerns and guide them through every step of the journey.

Developer tie-ups are equally important. When we work with trusted local builders, we can ensure that the properties are already verified and pre-approved for financing, which significantly reduces the loan process. Which is why we have partnered with real estate developers to offer curated property options and faster loan turnarounds to customers.

6- How are strategic partnerships between lenders, fintech platforms, and HFCs unlocking housing loan access in India’s Tier 2 and Tier 3 cities?

Strategic partnerships are at the heart of expanding home loan access, especially in India’s smaller cities. By working together, fintechs, lenders, and HFCs will be able to bring speed, flexibility, and trust to markets that have long been underserved, thereby making home ownership a more realistic goal for millions across Bharat.

7- What are some innovations or changes you see coming that could make home buying easier and more inclusive across India?

Homebuying in India is witnessing crucial transformations, especially outside the metros. Digitised property records, e-KYC, and geo-tagging of properties are already beginning to ease long-standing verification bottlenecks.

AI-led credit scores will further open doors for borrowers with informal incomes or limited credit backgrounds. Embedded finance options, where home loans are integrated directly into real estate platforms, can further make the process seamless for borrowers.

The future of home ownership in India will be shaped by a combination of hyperlocal support and smart, scalable technology. It’s about bringing the same ease of access and trust that metros enjoy to Tier 2, Tier 3 cities, and eventually to every corner of Bharat.

Business Desk

A team of writers and reporters decodes vast terms of personal finance and making money matters simpler for you. From latest initial public offerings (IPOs) in the market to best investment options, we cover al…Read More

A team of writers and reporters decodes vast terms of personal finance and making money matters simpler for you. From latest initial public offerings (IPOs) in the market to best investment options, we cover al… Read More

Read More