The last date to file your income tax return is usually July 31. However, for the financial year 2024–25, the Income Tax Department has extended the ITR filing due date to September 15, 2025.

Under the old tax regime, individuals below the age of 60 must file an income tax return if their income exceeds ₹2.5 lakh in a financial year. Senior citizens aged between 60 and 80 years are required to file an ITR if their income exceeds ₹3 lakh in a financial year. For super senior citizens aged 80 years and above, the basic exemption limit is ₹5 lakh for FY2024-25. Thus, those in this category must file an ITR if their income exceeds ₹5 lakh. Under the new tax regime, all individuals must file an ITR if their income exceeds ₹3 lakh in a financial year.

Apart from compliance, there are multiple benefits to filing an ITR: 1. ITR serves as proof of your income in various contexts. Banks and other financial institutions may require your ITR to determine your income when you apply for a loan or buy insurance. 2. If TDS has been deducted from your income—such as from fixed deposits, salary, or interest income—you must file an ITR to claim that refund. 3. When travelling abroad for work or other purposes, you may be required to submit your ITR to process your visa. 4. You can carry forward your losses from this year to offset future gains. To avail of this benefit, you must file an ITR.

There are seven types of forms available for FY 2024-25: ITR-1, ITR-2, ITR-3, ITR-4, ITR-5, ITR-6, and ITR-7. The ITR that an individual should file will depend on the sources of income, the amount of income earned, and the category of taxpayers, such as individuals, Hindu Undivided Families (HUFs), or companies. It is essential to file the correct ITR while e-filing your income tax return for FY 2024-25 to avoid interest and potential penalties later on. Yearend experts can help you select the appropriate ITR form based on your sources of income.

Yes, you can file your ITR without Form 16. Salaried employees can file their ITR even if they have not received Form 16 from their employer. In such cases, the TDS details can be obtained using Form 26AS, and income details can be accessed from the Annual Information Statement (AIS) and Taxpayer Information Summary (TIS).

No, individuals are not required to attach documents, such as proof of investments or TDS certificates, along with the income tax return form. However, individuals need to keep these documents safe, as they may need to produce them before the tax authority in case of tax demands or assessments.

Yes, you can file a belated ITR for FY 2024-25 if you miss the due date of September 15, 2025. The last date to file a belated return is December 31, 2025. However, a late filing fee under Section 234F and interest under Section 234A will apply. In addition to the late filing fee and interest, certain benefits, such as the carry forward of capital losses and the ability to file a revised return, are not available if the ITR is filed late. Tax experts at yearend can assist you in filing a belated ITR.

Yes, you can file a Revised ITR for FY 2024-25 with the help of tax experts at yearend. Don't worry, you can trust us to rectify the previous mistakes and file the correct details, so that you don't encounter any issues later on.

The time limit for e-verification of the ITR is 30 days from the date of filing the return of income for the financial year 2024-25.

Once we receive and verify your documents, our tax experts will get back to you with your tax computation within 24 hours. After you approve the ITR computation, they will proceed to file your ITR.

yearend offers comprehensive support throughout the entire ITR filing process. If you encounter any issues after filing your ITR, feel free to reach out to us.

If you get a tax notice, our team of experts will manage the entire process, assisting you to resolve the issue, ensuring your peace of mind and compliance with tax regulations.