Income tax return due date: A last-minute guide to help you file ITR on time | Everything you need to know

Income tax return due date: With the income tax return (ITR) deadline just around the corner, many taxpayers are rushing to file their returns ahead of the due date. However, some taxpayers are yet to file their ITR returns, leaving this task until the last few days, whether due to busy schedules or uncertainty about the process.

If you are one among them, here's a last-minute guide to filing ITR.

When is the ITR filing due date?

The Income Tax Department announced that the due date to file ITR for Assessment Year 2025-26 (i.e. FY 2024-25) has been extended to September 15, 2025, from July 31, 2025, due to the “extensive changes introduced in the notified ITRs and considering the time required for system readiness and rollout of ITR utilities for AY25-26", the Central Board of Direct Taxes (CBDT) informed in a notification issued in May this year.

List of documents required to file ITR

Ahead of filing your tax return, ensure you gather the following documents, as applicable: Form 16 from the current employer and any previous employer if changed jobs mid-year, Form 26AS, AIS (Annual Information Statement), PAN Card, Aadhaar Card (with PAN-Aadhaar linked), investment proofs (such as bank deposits, PPF deposits, capital gain P&L statement), home loan interest certificate, and insurance premium payment receipts.

Picking the correct ITR form - An overview

Selecting the correct ITR form is essential to filing returns accurately.

ITR1 (Sahaj): This income tax form is mainly used by taxpayers earning under ₹50 lakh annually, with income from salary, one house property, family pension, agricultural income, long-term capital gains, and other sources.

ITR 2: Individuals who cannot file ITR-1 can use ITR-2 if they do not have income from business or profession profits and gains, or no income from business or profession profits in the form of interest, salary, bonus, commission, or remuneration from a partnership firm.

ITR 3: This tax return form is for taxpayers or HUFs with income from business or profession who can't file ITR-1 (Sahaj), ITR-2, or ITR-4 (Sugam). All freelancers and self-employed persons file under ITR-3.

ITR 4 (Sugam): This ITR form is applicable for those taxpayers whose income for the financial year does not exceed ₹50 lakh. Primary income from business and profession is calculated on a presumptive basis under sections 44AD, 44ADA or 44AE, and your long-term capital gain under section 112A is not more than Rs. 1,25,000.

ITR 5: This form must be filed by firms, Limited Liability Partnerships (LLPS), Associations of Persons (AOPs), Bodies of Individuals (BOIs), artificial juridical persons referred to in section 2(31)(vii), local authorities, and societies.

Check details on 26AS & AIS

It is advisable to cross-check all the reported income in Form 26AS and the Annual Information Statement (AIS) to avoid errors.

According to CA Shefali Mundra, Tax Expert at Clear Tax, “Before filing your Income Tax Return (ITR), it's essential to verify your Form 26AS and Annual Information Statement (AIS). Form 26AS confirms tax credits like TDS and advance tax, while AIS provides a comprehensive view of your financial transactions. Cross-checking these documents ensures one does not miss out on reporting any income, prevents discrepancies, and minimises the risk of tax notices or delayed refunds.”

Report income from all sources

Any income not exempt from tax must be included in total income when filing income tax returns. If it is not taxable under any of the following heads: Salaries, Income from House Property, and Profits and Gains from Business or Profession, it will be taxable under the head ' Income from Other Sources'.

Claim deductions allowed as per the regime

Check deductions under the applicable tax regime. For taxpayers opting for the new income tax regime, deductions are available for income from house property on interest paid on a housing loan, section 80CCD(2) and section 80CCH.

Taxpayers choosing the old tax regime must look for deductions under income from house property and Chapter VIA of the Income Tax Act. This will include contributions made towards the NPS account, annuity plan of LIC or other insurer towards the pension scheme, contributions to the Agnipath Scheme, health insurance premium payments, interest paid on a loan for higher education, interest paid for the loan to buy a residential house and electric vehicles.

Deductions under the old tax regime also comprise donations made to prescribed funds and charitable institutions, and rent paid for a house, applicable only to self-employed people or those for whom HRA is not part of their salary. Donations made for scientific research or rural development, political party or electoral trust, interest received on deposits by resident senior citizens, and deductions for a resident individual taxpayer with a disability are also included.

Check your bank account details

Taxpayers must check bank account details, including account numbers and IFSC codes, which are essential for claiming and receiving refunds.

File your return

Here's how taxpayers can file their income tax returns.

Step 1: Collect all required proofs, including bank statements, income proofs, etc.

Step 2: Download Form 26AS and AIS from the e-filing portal. Cross-check the details with income and TDS.

Step 3: Select the correct ITR form based on your income composition.

Step 4: Enter details of income and deductions, including savings, investments and home loans.

Step 5: Submit your return through the e-filing portal.

Step 6: Complete the process with e-verification.

E-verify after filing

Once you've filed your returns, it is crucial to verify your ITR within 30 days. If your return is not verified, it will be treated as if it hasn't been filed. You can verify your ITR electronically using Aadhaar OTP, Electronic Verification Code (EVC), Net Banking, or by posting a signed physical copy of the ITR-V.

Penalty for late filing

On missing the September 15 deadline, taxpayers can file belated refunds, which include penalties under Section 234F of the Income Tax Act. These fines are determined based on income level. Individuals earning over ₹5 lakh must pay a penalty of up to ₹5,000 for late return filing, while those with a net taxable income of ₹5 lakh or less face a maximum penalty of ₹1,000.

Disclaimer: This article is for informational purposes only and does not constitute legal or tax advice. Taxpayers are advised to consult a qualified tax professional or refer to the official website of the Income Tax Department for accurate and up-to-date guidance before filing their returns.