Today is the last date for filing Income Tax (ITR) for assessment year 2025-26 i.e. 15 September. By the way, a large number of taxpayers have already filed returns. According to the Income Tax Department, more than 6 crore returns have been filed so far. The department has been urging taxpayers to avoid the last time crowd, providing 24×7 aid services. There is also speculation about whether the Finance Ministry will re -increase the last date for filing income tax returns. However, there is no official information about increasing the deadline of ITR. Let’s try to find an answer to every question from ITR Filing Last Date to refund…
When is the last date for filing ITR?
The Income Tax Department has announced that the last date of filing ITR for assessment year 2025-26 (ie, FY 2024-25) was earlier 31 July 2025, which was later extended to 15 September 2025. The Central Board of Direct Taxes (CBDT) said in a notification issued in May this year that this expansion has been “keeping in mind the comprehensive changes made in the notified ITR and the preparation of the system for the assessment year 2025-26 and the time required for the rollout of ITR users.
Will the deadline be extended this year?
Cleartax’s business head Avinash Polepalli said in a media report that this year no expansion is expected in the last date for filing ITR as most taxpayers are expected to follow the due date. Till now, no official announcement has been made by the department regarding extending the deadline, so taxpayers will have to file their ITR by September 15 to avoid any punishment.
Keep these things in mind to file ITR
- If you are filing your income tax return for the first time, then first of all make sure that you are registered on the Income Tax e-Filing portal. For the first time, those who file returns will have to create an account, while current users can just log in.
- Collect the required documents like interest certificate and insurance premium payment receipts for Form 16, Form 26AS, AIS, PAN, Aadhaar (associated with PAN), Investment Proof like bank statement, PPF statement, capital gains P&L statements, saving, recording and fixed deposits.
- It is necessary to choose the right ITR form to avoid mistakes. Include all taxable income sources, including “sources from other sources” sources.
- To avoid mismatch, check the income details with Form 26AS and AIS once again. Also, to avoid delay in refund, make sure that the details of your bank account details are correctly updated.
How to file ITR?
- Collect the required documents and download Form 26AS and AIS.
- Choose the appropriate ITR form.
- Enter personal income details, check the dedications and verify the information.
- Submit returns through the portal.
Source: Income Tax Department
Note that the announcement of zero tax on income up to Rs 12 lakh by the government is applicable for the current financial year, 2025-26.
Therefore, it does not apply to the current ITR filing for FY 2024-25 and will give exemption from tax on income earned between April 1, 2025 and 31 March 2026.
If your tax liability is zero, is it necessary to file income tax returns?
Some taxpayers feel that they do not need to file income tax returns because their tax liability is zero. However, they should keep in mind that whatever their tax liability, they need to file income tax returns (ITR). It is necessary to file returns for reasons like tax returns, visa and loan for a country.
Choose the right ITR form
It is necessary to choose the right ITR form for filing the returns correctly.
ITR 1 (spontaneous): ITR-1 is mainly used by taxpayers whose annual income is less than Rs 50 lakh, such as salary, a house, family pension, agricultural income, long-term capital gains, etc.
ITR 2: Those who are unqualified to file ITR-1 should use ITR-2 if they have no income from commercial or professional profits, or there is no income from commercial or professional profits from a partnership firm as interest, salary, bonus, commission or remuneration.
ITR-3: These forms are for individuals and Hindu undivided families (HUFs) that are involved in business that require detailed details.
ITR-4: This form is for resident individual/HUF/firm (in addition to LLP), whose income does not exceed Rs 50 lakh during the financial year, income 44 AD, 44 ADA or 44AE, on an estimated basis under estimated basis, income, pay/pension, a home property, a home property, agricultural income (up to Rs 5,000) and other sources.
Can you switch between old and new tax systems?
Salarid employees can choose from new and old tax arrangements through the Income Tax Portal while filing their ITR. It is important to note that the cuts in these arrangements vary, so individuals should choose the most appropriate option for themselves. Under the new income tax system, the interest from home property on the interest given on home loans is available under Section 80CCD (2) and Section 80CCCH.
In the old tax system, the deduction is applied under the Income VIA of the Income and Income Tax Act from home property. This will include contribution made to NPS account, annuity scheme for LIC or other insurance company’s pension scheme, contribution to Agneepath scheme, health insurance premium payment, interest given on loan loan for higher education, interest given on loan for purchasing residential house and electric vehicle.
Under the old tax system, deduction also includes donations to funds and charitable institutions given to the assigned funds and the rent given to the house, which applies only to self-employed people or those for whom house rent allowance (HRA) is not part of their salary. Scientific research or rural development, donations made for political parties or electoral trusts, interest received by Resident Senior Citizens, and detained residents for Divyang Resident Personal Income Taxpayers are also included in it.
Difference between tax exemption, waiver and deduction
To admit ITR correctly, it is necessary to take into account the conditions related to taxation to get benefits.
Tax exemption: Tax exemption is the relief to be provided to people earning up to a certain income level, which is claimed with total tax.
Tax forgiveness: This applies to some types of income, but not all. This means that depending on the type of income, some part of it can still be tax-free. While calculating your tax liability, the income received is first deducted from your income.
Tax deduction: Tax deductions are claims that can reduce taxable income from various investments and expenses incurred by taxpayers, which reduces the total tax liability.
Why is e-verification necessary?
After filing the return, it is necessary to verify your ITR within 30 days. If your return is not verified, it will not be admitted. You can verify your ITR by sending the signed copy of Aadhaar OTP, Electronic Verification Code (EVC), Net Banking or ITR-V electronically.
When will you get a refund, if you get
After verifying the return, the Income Tax Department, if applicable, takes 7 to 21 working days to start the refund process. According to the Income Tax Department, usually it takes 4-5 weeks to deposit refunds in the taxpayer’s account. It is important to keep in mind that the tax department processs the ITR refund only when the taxpayer e-verifies returns.