Don’t Miss the Deadline: ITR Filing for FY 2024-25. All ITR forms are released, but return filing is still not possible for taxpayers
New Delhi, 26 May 2025: Income Tax Return (ITR) filing for the financial year 2024-25 (Assessment Year 2025-26) is officially launched by the Income Tax Department. Taxpayers can now file income tax till the deadline: July 31, 20,25, for those who don’t require a CA audit.
This year, the Income Tax Department has released all ITR forms (ITR-1 to ITR-7), allowing taxpayers enough time to file their income tax returns. But don’t wait for the deadline.
If you miss the deadline, penalties and interest can cost you more than your tax amount. For example, if your total income exceeds ₹5 lakh and you file your return after the due date but before December 31, 2025, you could face a fine of ₹5,000. For those earning below ₹5 lakh, the penalty is ₹1,000.
For those Taxpayers who require an audit, their deadline has been extended to October 31, 2025. However, taxpayers need to file the correct ITR form to avoid any notice from the Income Tax Department.
Salaried employees should also look at their Form 16 before filing their income tax form. Look for TDS deductions before filing ITR. Even if Form 16 is not available, taxpayers can view Form 26AS and salary slips to file ITR.
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