Tomorrow is the last date of ITR Filing, you have filed 6 crores, have you done?

by

Tomorrow is the last date for itr filing, 6 crore people have alredy filed, what will happen if they miss it now?

The last date for filing Income Tax Return (ITR) for Assessment Year 2025-26 is just one day away, i.e. Monday, September 15, 2025. The Central Board of Direct Taxes (CBDT) has not given any more detail despite the demands of those who have not yet filed their ITR. The previous expansion was given on 27 May, when the last date was extended from General 31 July. Let us also tell you how many people have filed ITR so far? After all, what is the process of filing ITR? What documents should you have to make ITR process easier? What will happen if you are unable to file an ITR till the last date?

How to file ITR?

  • Log in on the income tax portal using PAN (as user ID) and password.
  • Go to ITR filing section.
  • Select the assessment year.
  • Chupening the filing status.
  • Select the correct ITR form.
  • Review all information and then confirm.
  • Pay the dew tax and then submit it.
  • E-Ferification of Returns.

Which documents will be needed?

  1. Form 16: This salary is necessary for people. Employees have to cut tax on sources before paying salary and provide Form 16 as proof. This helps employees to verify and cross their salary details, which are usually filled in online ITR form on the e-filing portal.
  2. Capital Gens Detail: If you have sold equity share or mutual funds, then the profit will have to be recorded in your returns. The capital gains detail of your stockbroker or mutual fund house will classify them as a short term or a longer, which will make the process easier.
  3. AIS and Form 26AS: Taxpayers should download AIS, Taxpayer Information Summary (TIS) and Form 26AS from the e-filing website. AIS, which moves beyond Form 26AS, covers the interest, dividend, rent, securities and property transactions, and foreign remedies of the savings account.
  4. Interest Certificate and Bank Statement: Get interest certificate from banks, post offices and other institutions. Downloading bank statement of FY 2024-25 would also be better, this can help in confirming interest income, dividend details and even AIS, TIS or Form 26AS.
  5. Documents of Foreign Income and Non -Ltd State Shares: Resident individuals are required to report all foreign assets and income. If you have foreign assets or you have the right to sign a foreign bank account, it is mandatory to file ITR, regardless of taxable income.
  6. Tax Saving Investment and Expenditure Proof: Those who choose old tax regime will also have to withdraw documents of investment and expert proof. With which cuts can be claimed under Section 80C, 80CCD (1B), 80D, 80DD and 80TTA. Rebate like house rent allowance (HRA) and holiday travel allowance (LTA) can also be claimed.
  7. Details of PAN, Aadhaar and Bank Account: With the account number and IFSC code, keeping PAN and Aadhaar also makes the filing process easier.

How many people filed ITR?

According to the final update, more than six crore people have filed their ITR. Surprisingly, this figure of ITR filing is being seen very less in the match of last year. This figure is being seen around one crore. According to the data, the number of ITR filing filed last year was 7.28 crore. For FY 2025, the deadline of September 15 applies to taxpayers whose tax audit will not be there. This will apply to the Deadline Individuals, Hindu undivided families (HUF) and ITR Form 1 to 4 uses.

How much will be the penalty?

After 15 September, filing returns will be fined Rs 5,000 under Section 234F (if the income is more than Rs 5 lakh) and a fine of Rs 1,000 on those with low income. Billed or revised returns can be filed by 31 December 2025, while updated returns (ITR-U) can be submitted by 31 March 2030. If you are outstanding tax and you do not file returns, then interest will be imposed on the outstanding tax amount under Section 234A of the Income Tax Act. A simple interest of one per cent will be imposed on the tax not paid (or on any part of any month), which will be calculated from the due date of filing the return to the date of filing the actual.

How much has been released refund?

According to official data, 5.34 crore returns were processed smoothly last year, while about two crore taxpayers received notices for errors. These ITRs were either incomplete or they had mistakes, due to which they received notice. It is not enough to file ITR; It is also very important to e-verify it within 30 days. Failure to do so makes the return invalid and the refund stops automatically. In some cases, taxpayers may also be fined up to Rs 5,000.

Leave a Comment