ITR Filing 2025 News

The new version includes most of the 285 suggestions made by a special committee that reviewed the earlier draft and submitted its report on July 21.  

The Income-Tax Bill, 2025, introduced in Lok Sabha on Feb. 13 to replace the Income-Tax Act, 1961, has been formally withdrawn.

As a responsible taxpayer, it’s important to stay updated on key deadlines and follow the guidelines set by the Income Tax Department. It’s important to keep in your mind that last date to file your ITR for the Assessment Year 2025-26 is September 15, 2025.

 The government has extended the ITR filing deadline for those originally due on July 31, 2025, to September 15, 2025.  

The income tax portal has 13.21 crore individual registered users. The deadline for filing ITR for taxpayers who had July 31, 2025, as the deadline has been extended to September 15, 2025.  

For individuals under 60 years old, it is generally required to file an ITR if your income exceeds Rs 2.5 lakh under the old tax regime or Rs 3 lakh under the new tax regime.

Salaried employees or pensioners without business income can change their tax regime at any time prior to filing their ITR every year by simply selecting the relevant option on the ITR-1 or ITR-2 form.

Before choosing a regime, consider your income, pay structure, and tax-saving investments. Salaried individuals with minimal deductions may benefit from the new regime.

According to the Income Tax Department, a revised return can be filed up to three months before the end of the assessment year or before the assessment is completed, whichever comes first. 

ITR-U is a special form introduced in 2022 that gives taxpayers a second chance to set things right. Whether you missed filing your return, forgot to report some income, or made a mistake, ITR-U lets you update your return.

ITR-3 is now available for online filing for FY 2024–25. This form is meant for individuals and HUFs with income from business, profession, capital gains, or foreign assets. 

The Income Tax Department clarified that the new Income Tax Bill, 2025 only aims to simplify the tax law’s language and remove outdated sections, without changing any tax rates or exemptions. This statement was made to counter media rumors about changes to Long Term Capital Gains (LTCG) tax and equity investment benefits. The bill, introduced in February 2025, intends to replace the old Income Tax Act from 1961 with a modern, clearer, and more technology-friendly law. It has undergone detailed review by a Lok Sabha committee and marks the first full rewrite of India’s tax code in decades.  

CBDT has directed that returns of income filed electronically upto 31.03.2024 which have been erroneously invalidated by CPC shall now be processed.

Filing your ITR, even with zero tax, has important long-term advantages.  

The Income Tax Department advises all taxpayers to double-check their AIS before filing ITR for AY 2025–26 to keep things smooth. 

Following this revision, the old tax regime will only be advantageous to taxpayers who are eligible to claim Rs 2 lakh deduction for home loan interest under Section 24(b) or a large house rent allowance (HRA). Most other deductions are unlikely to justify remaining with the old regime, said experts.

For freelancers, understanding TDS (Tax Deducted at Source) is crucial. When clients make payments, they often deduct 10 per cent as tax and deposit it with the government using your PAN.

Section 80C lets you claim a deduction of up to ₹1.5 lakh on your taxable income. This deduction isn’t only for investments—it also covers some expenses.

Despite the simplification of the process over the years, procrastination remains common.

Filing your ITR doesn’t always mean your tax process is complete. The Income Tax Department can still send notices for issues like incorrect deductions, mismatched TDS details, or unreported income. To avoid penalties, it’s important to act on these notices quickly, verify your income records, and consult a tax expert if needed.