ITR Filing: From choosing the right form to verification and refund – your one-stop guide to filing tax return

As the deadline for filing Income Tax Returns (ITR) for Assessment Year 2025–26 approaches on September 15, a significant number of taxpayers have already filed returns. According to the Income Tax Department, over 6 crore returns have been filed so far, with the department offering 24X7 support services while urging taxpayers to avoid the last-minute rush.

Speculations are also high on whether the Finance Ministry will extend the due date for filing income tax returns again. However, there is no official update regarding the extension of the ITR deadline.

When is the ITR filing due date?

The Income Tax Department announced that the deadline to file the ITR for Assessment Year 2025-26 (i.e., FY 2024-25) has been extended to 15 September 2025, from 31 July 2025. This extension is 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) stated in a notification issued in May this year.

Will the deadline be extended this year?

Any extension to the deadline for filing ITR is not expected this year as most taxpayers are expected to abide by the due date, according to Avinash Polepally, Business Head at ClearTax. So far, there has been no official announcement from the department regarding any extension of the deadline, hence taxpayers should aim to file their ITR by September 15 to avoid any penalties. Check out the reasons why any extension is unlikely.

A last-minute guide to file ITR

With just a day left to file ITR, here's a last-minute guide to file ITR —

• If you're filing your income tax return for the first time, start by ensuring you're registered on the Income Tax e-filing portal. First-time filers must create an account, while existing users can simply log in.
• Gather key documents to keep, such as Form 16, Form 26AS, AIS, PAN, Aadhaar (linked with PAN), investment proofs such as bank statements, PPF statements, capital gain P&L statements, interest certificate from banks for savings, recurring and fixed deposits and insurance premium payment receipts.
• Choosing the correct ITR form is essential to avoid errors. Include all taxable income sources, including those under “Income from Other Sources.”
• Cross-check income details with Form 26AS and AIS to avoid mismatches. Also, ensure your bank account details are correctly updated to avoid refund delays.

How to file ITR?

Step 1: Collect required documents and download Form 26AS & AIS.

Step 2: Select the appropriate ITR form.

Step 3: Enter personal, income details, look for deductions, and verify the information.

Step 4: Submit the return via the portal.

For a detailed guide on the process to file ITR, click here.

A look at income tax slabs

Tax slabs under the new tax regime

Source: Income Tax Department

Note that the government's announcement of zero tax on incomes up to ₹12 lakh applies to the current financial year, 2025-26.

Hence, this does not apply to the current ITR filing for FY 2024-25 and will only exempt tax on income earned between April 1, 2025, and March 31, 2026.

Tax slabs under the old tax regime

Income tax slabs for people below 60 years

For more details on ITR slabs, check this article.

Do you need to file ITR if you have zero tax liability?

Some taxpayers think they don't need to file their return because their tax liability is zero. However, they must be aware that they still need to file their income tax return (ITR) regardless of their tax liability. Filing returns is necessary for reasons such as tax refunds, visas for a country, and seeking loans. Read our detailed article on why individuals with zero tax liability need to file ITR.

Choose the correct ITR form

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

ITR1 (Sahaj): ITR-1 is primarily used by taxpayers with an annual income of less than ₹50 lakh, from sources such as salary, one house property, family pension, agricultural income, long-term capital gains, and others.

ITR 2: People who are ineligible to file ITR-1 should use ITR-2 if they don't 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: ITR-3 forms are for individuals and Hindu Undivided Families (HUFs) involved in business or professions that require detailed accounts.

ITR-4: This form is for a resident individual/ HUF/ firm (other than LLP) who has income not exceeding ₹50 lakh during the FY, income from business and profession computed on a presumptive basis u/s 44AD, 44ADA or 44AE, income from salary/pension, one-house property, agricultural income (up to ₹ 5,000), and other sources.

Selecting the wrong ITR form can lead to disruptions and delays in filing ITR. In order to choose the correct ITR form, read this article to check eligibility.

Can you switch between old and new tax regimes?

When filing their ITR, salaried employees can choose between the new and old tax regimes through the Income Tax portal. It must be noted that deductions differ across these regimes, so individuals should select the one that suits them best.

Under 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.

In the old tax regime, deductions are applicable to 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 include 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.

Difference between tax rebate, exemption and deduction

To file ITR accurately, it is essential to key in taxation terms to get benefits accordingly.

Tax rebate

A tax rebate is tax relief provided to individuals who earn up to a certain income level, which is claimed from the total tax payable.

Tax exemption

It applies to certain types of income, but not all. This means that depending on the type of income, some of it may still be tax-free. When calculating your tax liability, exempt income is the first thing deducted from your income.

Tax deduction

Tax deductions are claims that can lower the taxable income from various investments and expenses a taxpayer incurs, thereby reducing the overall tax liability.

To understand further differences between important taxation terms, click here.

Why is e-verification necessary?

After you have filed your returns, it is essential to verify your ITR within 30 days. If your return remains unverified, it will be considered as not filed. You can verify your ITR electronically using Aadhaar OTP, Electronic Verification Code (EVC), Net Banking, or by sending a signed physical copy of the ITR-V.

When will you get refund, if any

The income tax department takes between 7 and 21 working days to start processing the refund, if applicable, after you have verified the returns.

“Usually, it takes 4-5 weeks for the refund to be credited to the account of the taxpayer,” according to the income tax department.

It must be noted that the tax department processes ITR refunds only after the taxpayer e-verifies the return.

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.