ITR Filing For FY 2024-25: Key Deadlines To Keep In Mind

The Income Tax Department has initiated the process to file ITR for the financial year 2024–25, corresponding to the assessment year 2025–26.

All the ITR forms have been rolled out by the I-T Department, while the Excel utility for ITR-1 (Sahaj) and ITR-4 (Sugam) were made available on Friday, May 30.

This time, several new updates have been brought in to simplify the process, especially for salaried individuals and small businesses. Also, there are a few key changes in terms of deadlines. The taxpayers must keep themselves informed and up to date with the latest changes in order to comply with tax regulations.

Filing the ITR on time not only ensures smooth tax compliance but also helps in avoiding penalties.

• ITR Filing: Key Deadlines To Remember

• Individuals and non-audit cases - Sep. 15, 2025 (Earlier, the last date was Jul. 31)

• Audited Accounts (business or professionals) - Oct. 31, 2025

• Taxpayers requiring transfer pricing cases (Form 3CEB) - Nov. 30, 2025

• Belated or revised return - Dec. 31, 2025

As per regulations, taxpayers can expect their TDS certificates, which include Form 16 and Form 16A, by June 15, 2025.

ITR Filing: Types Of Forms

ITR-1 (Sahaj): This is for resident individuals who earn up to Rs 50 lakh from salary, a single house property and interest income in a financial year. Also, agricultural income up to Rs 5,000 is included in this.

ITR-2: This is for individuals and HUFs having income from capital gains, but no business income.

ITR-3: For those getting income from profits and gains from business or profession. It includes both individuals and HUFs.

ITR-4 (Sugam): Highly recommended for individuals, Hindu Undivided Families (HUFs) and companies (except LLPs) having income up to Rs 50 lakh from business or profession under the presumptive taxation scheme.

ITR-5: This is meant for companies, Limited Liability Partnerships (LLPs) and cooperative societies.

ITR-6: For the companies that are governed under the Companies Act.

ITR-7: This is meant for trusts and charitable entities.

From AY26, taxpayers with long-term capital gains (LTCG) up to Rs 1.25 lakh from listed shares or mutual funds will be able to opt for ITR-1 or ITR-4, provided they have to meet certain eligibility criteria. Earlier, such taxpayers were required to use ITR-2, which is a more detailed form.

This streamlines the process for salaried individuals as well as small business owners who are dealing with modest investments. Notably, capital gains up to Rs 1.25 lakh are exempted from tax.

Those filing ITR-2, 3, 5, 6, or 7 must note that gains must be categorised depending on whether they occurred before or after July 23, 2024. This is in reference to the Budget 2024 announcement that adjusted the tax rate on real estate LTCG to 12.5% without indexation. However, it is only for assets that were acquired before this date.