📰 Income Tax Return Filing: A Complete Guide for FY 2024–25 (AY 2025–26)
New Delhi, October 2025:
The Income Tax Department of India has reminded all taxpayers to file their Income Tax Returns (ITR) for the financial year 2024–25 before the prescribed deadline to avoid penalties and ensure compliance. The process of filing ITR has been made completely digital and user-friendly through the official portal www.incometax.gov.in.
🧾 What is an Income Tax Return?
An Income Tax Return (ITR) is a form through which taxpayers report their income, deductions, tax payments, and liabilities to the Government of India. It acts as a declaration of an individual’s or business entity’s annual financial status.
Every individual, company, or organization earning above the prescribed exemption limit is legally required to file an ITR.
💡 Why Filing an ITR is Important
1. Legal Obligation:
It is mandatory for individuals earning taxable income to file returns under the Income Tax Act, 1961.
2. Loan & Credit Benefits:
Banks and financial institutions consider ITRs as proof of income while sanctioning loans or credit cards.
3. Visa & Travel Requirements:
Many embassies require ITR copies for visa processing as proof of financial stability.
4. Refund Claims:
If excess tax has been deducted or paid, filing an ITR is necessary to claim a refund.
5. Proof of Income:
It serves as an official document to prove one’s income in various government and financial processes.
📁 Documents Required for ITR Filing
PAN Card
Aadhaar Card
Form 16 (for salaried employees)
Bank Statement / Passbook
Form 26AS and AIS report
Investment proofs (LIC, PPF, ELSS, etc.)
Rental receipts (for HRA claim)
Business income records (for self-employed individuals)
📊 Different Types of ITR Forms
Form No. Applicable to
ITR-1 (Sahaj) Individuals with income up to ₹50 lakh from salary, pension, or one house property
ITR-2 Individuals and HUFs with income above ₹50 lakh or multiple properties
ITR-3 Individuals with income from business or profession
ITR-4 (Sugam) Small businesses or professionals under presumptive taxation
ITR-5 Partnership Firms, LLPs, etc.
ITR-6 Companies (excluding those claiming exemptions under Section 11)
ITR-7 Trusts, NGOs, and institutions filing under Section 139(4A–4D))
💻 Step-by-Step Process to File ITR Online
1. Visit the official portal: https://www.incometax.gov.in
2. Login using your PAN number and password.
3. Go to the “e-File” section and click on “File Income Tax Return.”
4. Choose the Assessment Year (AY 2025–26).
5. Select the appropriate ITR form based on your income type.
6. Enter all income, deductions, and tax details carefully.
7. Review and calculate total tax liability or refund.
8. Submit the return and complete e-verification.
✅ How to e-Verify Your ITR
E-verification is mandatory after filing to validate your submission. You can e-verify your return using:
Aadhaar OTP
Net Banking
Bank Account / Demat Account
Digital Signature Certificate (DSC)
Without e-verification, the ITR will be considered incomplete.
📅 Important Deadlines
Type of Taxpayer Due Date
Individual / Salaried Taxpayers July 31, 2025
Businesses requiring audit October 31, 2025
Revised or Belated Return December 31, 2025
⚠️ Penalty for Late Filing
If the ITR is filed after the due date, a penalty under Section 234F will be imposed:
₹1,000 for income up to ₹5 lakh
₹5,000 for income above ₹5 lakh
In addition, interest may also be charged under Sections 234A, 234B, and 234C for late payment of taxes.
🧮 New Tax Regime Slabs (FY 2024–25)
Income Range Tax Rate
Up to ₹3,00,000 Nil
₹3,00,001 – ₹6,00,000 5%
₹6,00,001 – ₹9,00,000 10%
₹9,00,001 – ₹12,00,000 15%
₹12,00,001 – ₹15,00,000 20%
Above ₹15,00,000 30%
🧠 Expert Advice for Taxpayers
File your return well before the deadline to avoid system rush.
Verify Form 26AS and AIS data before submission.
Keep all investment and expense proofs ready.
Choose between the Old and New Tax Regime wisely.
Consult a Chartered Accountant or tax expert for guidance if needed.
📢 Government’s Message
The Income Tax Department urges citizens to embrace digital compliance and contribute to nation-building by filing returns accurately and on time. “Filing ITR on time is not just a responsibility—it’s a mark of being a responsible taxpayer,” said a senior official of the department.
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