ITR Filing 2025 Date: Income tax return has to be filed by July 31, notice will be received for making these 5 mistakes
ITR Filing 2025 Date: The time to file Income Tax Return (ITR) is once again near. The last date for filing ITR for the financial year 2024-25 (assessment year 2025-26) has been fixed as 31 July 2025.
ITR Filing 2025 Date: The time to file Income Tax Return (ITR) is once again near. The last date for filing ITR for the financial year 2024-25 (assessment year 2025-26) has been fixed as 31 July 2025. In such a situation, this is the right time when you should start collecting your entire year’s financial documents and file the return on time.
New tax regime becomes default
According to the Finance Act 2024, the new tax slab has been made the default tax regime by amending section 115BAC of the Income Tax Act. However, eligible taxpayers can also choose the old tax regime if they wish, provided they choose the option in time.
Keep these things in mind while filing returns
Filing ITR can be a bit difficult, especially for those who have income from multiple sources or those who are filing returns for the first time. If you avoid the common mistakes given below, the process of return filing can be easy.
1. Wrong tax calculation
Both the old and new tax regimes offer different tax exemptions and rates. You must first decide which tax regime is beneficial for you.
2. Claiming wrong tax deductions
Each person’s eligibility for tax deduction may be different. To take full advantage of exemptions like Section 80C, 80D, it is important that you check which deductions you can claim.
3. Mistake in personal information
Filling wrong information like name, PAN, address, bank account number can lead to rejection of return or delay in refund. So be careful while filling them.
4. Missing source of income
If you have income from multiple sources, such as salary, rent, freelance work, etc., do not forget to include all of them correctly.
5. Check Form 26AS
This form is available on the income tax portal and contains your TDS, tax payment and other information. It is important to check whether the information given by you matches with Form 26AS.
Return has to be filed by 31 July
It is important to file returns before the last date of 31 July 2025 to avoid penalties and other problems. By preparing the documents on time and filling all the information carefully, not only will tax filing be easy but there will also be no delay in refund.
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