Filing income tax returns (ITR) is one of the most important financial responsibilities for every taxpayer in India. As the new financial year approaches, understanding the latest income tax filing process for 2025, deadlines, and changes in tax rules becomes crucial.
Whether you are a salaried employee, freelancer, business owner, or pensioner, this guide will help you file your Income Tax Return (ITR) for FY 2024–25 (AY 2025–26) smoothly and on time.
What Is Income Tax Filing?
Income tax filing is the process of reporting your income, expenses, and tax payments to the Income Tax Department of India. The government uses this information to verify your earnings and ensure that the right amount of tax has been paid.
Filing your return also makes you eligible for refunds, loans, and visa processing, and keeps your financial record clean.
Income Tax Filing Deadline 2025
| Category | Assessment Year 2025–26 | Due Date |
|---|---|---|
| Individual / Salaried taxpayers | FY 2024–25 | 31 July 2025 |
| Businesses requiring audit | FY 2024–25 | 31 October 2025 |
| Transfer pricing cases | FY 2024–25 | 30 November 2025 |
✅ Tip: File your return well before the deadline to avoid last-minute technical issues or penalties.
Latest Updates in Income Tax Rules for 2025
- New Tax Regime is Default:
From FY 2024–25, the new tax regime continues as the default option with revised slab rates. You can still opt for the old regime if you prefer deductions like 80C, 80D, etc. - Increased Rebate Limit:
The rebate under Section 87A remains available for income up to ₹7 lakh under the new regime. - Standard Deduction:
₹50,000 standard deduction for salaried individuals and pensioners is applicable under both tax regimes. - Simplified ITR Forms:
The Income Tax Department is likely to release simplified ITR-1 to ITR-7 forms for easier filing in 2025. - Updated AIS and TIS:
The Annual Information Statement (AIS) now includes more detailed financial data to ensure accuracy during filing.
How to File Income Tax Return Online (Step-by-Step)
Follow these steps to file your ITR online through the Income Tax e-Filing Portal (https://www.incometax.gov.in):
- Visit the official portal and log in using your PAN and password.
- Click on “File Income Tax Return” under the e-File section.
- Select the correct Assessment Year (2025–26).
- Choose your ITR form type (ITR-1, ITR-2, etc.).
- Verify your income details, deductions, and tax paid.
- Preview the summary and confirm.
- Submit and e-verify your ITR using Aadhaar OTP, net banking, or EVC.
🧠 Note: Keep your Form 16, bank statements, and investment proofs ready before you start filing.
Documents Required for ITR Filing 2025
- PAN Card & Aadhaar Card
- Form 16 / Salary Slips (for salaried individuals)
- Bank Account Details & IFSC Code
- Investment Proofs (Section 80C, 80D, etc.)
- Capital Gains Details (if applicable)
- TDS Certificates (Form 26AS / AIS)
Old Tax Regime vs New Tax Regime 2025
| Income Range | Old Regime Tax Rate | New Regime Tax Rate |
|---|---|---|
| Up to ₹2.5 lakh | Nil | Nil |
| ₹2.5–₹5 lakh | 5% | 5% |
| ₹5–₹7.5 lakh | 20% | 10% |
| ₹7.5–₹10 lakh | 20% | 15% |
| ₹10–₹12.5 lakh | 30% | 20% |
| ₹12.5–₹15 lakh | 30% | 25% |
| Above ₹15 lakh | 30% | 30% |
💬 Tip: If you have multiple deductions (like HRA, PF, LIC, NPS, medical insurance), the old regime may still be beneficial.
Penalties for Late Filing
Filing your ITR after the due date can attract penalties under Section 234F:
| Date of Filing | Penalty |
|---|---|
| Filed after due date but before 31 Dec 2025 | ₹1,000 (if income < ₹5 lakh) |
| Filed after due date (income > ₹5 lakh) | ₹5,000 |
Additionally, you may lose the right to carry forward losses or claim certain deductions.
FAQs on Income Tax Filing 2025
Q1. What is the last date to file ITR for FY 2024–25?
The last date is 31 July 2025 for individuals not requiring an audit.
Q2. Can I file ITR after the due date?
Yes, you can file a belated return till 31 December 2025, but with a penalty.
Q3. Do I need to file ITR if my income is below ₹2.5 lakh?
No, it’s optional. However, filing is beneficial for financial documentation and loan/visa purposes.
Q4. How can I check my ITR status?
You can check your filing status on the Income Tax e-filing portal under “View Filed Returns”.
Conclusion
Filing your Income Tax Return for 2025 doesn’t have to be stressful. With online filing, digital verification, and simplified tax forms, the process is faster and more transparent than ever. Stay informed about the latest tax updates, keep your documents organized, and file your return before the due date to avoid any penalties.
For the latest updates, visit the official website – incometax.gov.in
Check out incometaxbengaluru.org