Introduction
The new ITR Filing 2025 season has begun with several rule changes every taxpayer and tax professional must know. Updated forms, new deductions, and stricter compliance norms make it vital to file correctly and on time. Here’s a crisp breakdown.
Latest Updates on ITR Filing 2025
Stay updated with these critical points:
Revised ITR Forms (Notification No. 40/2025)
- ITR-1, ITR-2, ITR-4 revised for AY 2025–26
- Changes include detailed disclosure for capital gains and foreign income
- Mandatory bank account validation for refunds
Extended Due Dates (CBDT Circular No. 06/2025)
- Salaried taxpayers: 15th September 2025 (extended from 31st July)
- Audit cases: 31st October 2025
New Section 115BAC Defaults
- New Tax Regime is default unless opted out while filing
- Form 10-IEA must be filed online before due date to switch regimes
TCS Compliance
- Higher TCS for foreign remittances above ₹7 lakh under LRS
- Verify TCS credits in AIS/26AS before claiming refund
Updated Capital Gains Rules
- Indexation benefit rules tweaked for debt mutual funds
- Separate reporting fields added in ITR
ITR Filing 2025: Practical Checklist
| Task | Key Point |
|---|---|
| Choose Correct Form | Check CBDT’s updated form structure |
| Verify AIS/26AS | Match TDS, TCS, and interest details |
| Disclose Foreign Assets | Mandatory if you have global income |
| Validate Bank Account | Required for quick refunds |
| File Before Deadline | Avoid late fees under Section 234F |
Legal References
- 📄 CBDT Notification No. 40/2025 (Forms)
- 📄 CBDT Circular No. 06/2025 (Extended Due Dates)
- 📄 Finance Act, 2024 (Section 115BAC amendments)
(For official forms and circulars, visit incometaxindia.gov.in).
Expert Tip for ITR Filing 2025
Double-check the Annual Information Statement (AIS) and Form 26AS. Mismatch is the top reason for notices under Section 143(1). Many taxpayers forget to include bank interest and small dividends — so verify before submission.
FAQs on ITR Filing 2025
Q1: Can I switch between old and new tax regime?
Yes, but file Form 10-IEA within due date for salary income. Business income filers can’t switch every year.
Q2: What happens if I miss the deadline?
Late filing fee of up to ₹5,000 under Section 234F and loss of certain deductions.
Q3: Where to check latest ITR forms?
Official site: incometaxindia.gov.in
Conclusion
Filing your ITR for 2025 correctly can save penalties and ensure faster refunds. For hassle-free compliance, consult Efiletax — your trusted partner for ITR filing, tax saving, and legal support.
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Summary:
ITR Filing 2025 comes with revised forms, new rules, and extended deadlines. Stay updated, verify AIS, and file on time to avoid penalties. Use Efiletax for smooth compliance!