As of date, the last date for taxpayers (all non-auditable cases) to file their return of income is September 15 2025, Monday.
So, here are a few things to note while filing your IT returns.
Review your AlS and 26AS carefully to ensure accurate reporting.
Don't forget to e-verify the IT returns within 30 days from the date of submission of the ITR.
Do remember that the New Tax Regime is the default option in the ITR. If you wish to opt for the Old Tax Regime, select "Yes" under section 115BAC (6) in the relevant column while filing the return.
In case of persons having Business Income, "Form 10IEA" has to be filed. If the Old Tax Regime has already been opted for the Assessment Year 2024-25, by filing Form 10IEA, then filing of Form 10IEA is not required to continue with the Old Tax Regime.
“Your income tax return helps you to get your home loan, education loan, business loans and car loan from banks and financial institutions easily,” the IT Department recently stated in bold letters in their reminder mail to salaried individuals.
The September 15 due date applies to Salaried Individuals, Firms, Association of Person/Body of Individuals (AOP/BOI), Artificial Juridical Person (AJP), Trust, Local Authority (non-audit cases).
A quick checklist would help matters:
Salary Income: Form 16 Part A and Part B, preferably in PDF format (from all employers, if you had more than one).
Deductions & Expenses: Details and supporting documents for any deductions or expenses allowable under Chapter VI A or any other provisions of the Income Tax Act that you wish to claim, which were not furnished by your employer.
House Property Income:
Home loan interest certificate / Loan statement with interest and principal split (if applicable).
Rental income details (for all houses, if multiple properties are rented out).
Ownership details of the property.
Property Tax receipt.
Name, PAN, and Aadhaar of your tenant(s).
Business Income:
Details of all income from all your businesses.
Amount of Sundry Debtors, Sundry Creditors, Stock in Trade, Cash Balance, and Bank Balance of the business account as of March 31, 2025.
Trade name and activity of your business.
GST credentials (if applicable).
Udyam Certificate (if applicable).
Capital Gains Income: Tax P&L (Profit & Loss) statement from your trading platform(s) for the financial year in the specified format.
Income From Other Sources: Details of all income sources, such as Fixed Deposits (FD) interest, Savings Bank interest, Dividends, etc. Applicable expenses that can be claimed against these incomes.
Agricultural or Exempt Income:
Details of such income.
Details of land, area of land, and whether the land is rainfed or irrigated.
For old tax regime, also check deductions like those on the value of your vehicle—something that many forget.
What happens if you miss the September 15 ITR deadline?
If you fail to file your ITR by September 15, you can still file your returns by December 31 2025. But it will atract a penalty.
Currently, the fine for late filing is Rs 5,000 (and Rs 1,000 for those with annual income less than Rs 5 lakh).
Moreover, interest under Sections 234A (for late filing), 234B (for shortfall in advance tax), and 234C (for deferment of advance tax) might apply.
And the biggest setback is that filing ITR after the due date might result in delayed processing of refunds. In the future, later IT Returns could also attract more scrutiny from the IT Department.
