The deadline for non-audit instances is prolonged to September 15, 2025, whereas self-assessment tax funds are due by July 31, 2025.
7 key factors to recollect when submitting your Income Tax Return (ITR) this 12 months.(REUTERS)
Under this newly launched utility, staff, pensioners, freelancers, and small enterprise homeowners will be capable of validate their returns by making a JSON file, importing to the e-filing portal, and therefore, put together their earnings tax returns, even with out web entry.
According to the official web site, this 12 months, the deadline for submitting ITR has seen an extension until Sept 15, for non-audit cases-including ITR-1 and ITR-4 filers. Put throughout by Central Board of Direct Taxes (CBDT), this changed the sooner window which allowed submissions solely until July 31, with the intention to accommodate structural adjustments and utility rollout delays.
However, the deadline for paying any self-assessment tax stands on July 31, 2025. Taxpayers ought to abide by this time-frame to keep away from curiosity penalties.
Filing your ITR this 12 months? Here are 7 key factors to recollect when submitting your Income Tax Return (ITR):
1. SELECT THE SUITABLE ITR FORM
Taxpayers are suggested to pick the appropriate ITR type, based mostly on their current pay scales.
Salaried people can be submitting their return utilizing ITR-1 (Sahaj), given their earnings is from wage, single home property, and different sources (like curiosity), totaling their earnings to no more than ₹50 lakh.
If taxpayers’ earnings is from capital features, international earnings or a number of family properties, they are going to be utilizing ITR-2.
2. SELECT THE APPLICABLE OPTION BETWEEN THE NEW AND OLD TAX REGIME
Taxpayers should determine in the event that they should file their return underneath the previous tax regime with exemptions and deductions or the brand new regime with fewer deductions and diminished slab charges.
In the case of investments in schemes just like the Public Provident Fund (PPF) or National Savings Certificate (NSC) for tax profit, they may solely be thought-about underneath the previous regime.
3. COLLECT AND CHECK ALL RELATED DOCUMENTS
Taxpayers should acquire all vital paperwork like Form 16, which is given by the employer and signifies wage and TDS (Tax Deducted at Source).
Form 26AS (which exhibits the main points of all tax credit) needs to be printed and checked whether or not it embrace TDS on wage, curiosity earnings and so forth. These particulars needs to be checked and ensured that they’re mirrored on Form 16.
4. USE THE NEWLY INTRODUCED OFFLINE UTILITY OR THE ONLINE PORTALS
Taxpayers can use the newly launched offline utility by following the aforementioned course of or observe the beforehand used Tax2win and different on-line portals that present easy on-line one-step submitting choices for ITR-1(Sahaj) and ITR-4 (Sugam).
The on-line portals additionally pre-fill information like Form 16, guaranteeing a consumer pleasant expertise.
5. LOOK OUT FOR THE FILING DEADLINE AND CONSEQUENCES OF DELAY
For this evaluation 12 months (2025-26), there was an extension for the deadline for submitting non-audit instances, i.e for salaried people submitting ITR-1 and ITR-4 to Sept 15, 2025.
Self-assessment tax cost deadline stands at 31 July 2025, after which taxpayers would possibly incur curiosity penalties and charges based mostly on the variety of days delayed.
If there’s an current delay in submitting ITR for earlier 12 months(s), there’s a provision to file belated returns inside the previous two years utilizing ITR-U (for people who haven’t filed their returns collected in use solely).
