The last date for filing Income Tax Return (ITR) for Assessment Year 2025-26 (FY 2024-25) is now just 7 days away. About 5 crore people have already filed returns and the remaining taxpayers have to complete the process as soon as possible.
Income Tax Return: Earlier, most people found it very difficult to file ITR and they used to take the help of a Chartered Accountant (CA). But now the government has made it simple through the e-filing portal and mobile app. With the help of pre-filled forms, information like your salary, bank interest and tax deduction are automatically filled. You just have to check and confirm them. This saves both time and money.
Step-by-step guide
To file ITR, first keep the necessary documents like Form 16, Form 26AS, AIS, bank statement and investment proof ready.
Step 1: Login to the income tax portal incometax.gov.in.
Step 2: Choose the right form – ITR-1 (Sahaj) is for salaried people whose income is up to Rs 50 lakh.
Step 3: Check the pre-filled data carefully and edit if needed.
Step 4: Avail deductions and exemptions like deduction up to Rs 1.5 lakh under section 80C, 80D on health insurance and tax benefits on home loan interest.
Step 5: After filling all the details correctly, submit and e-verify with Aadhaar OTP, net banking or demat account.
Penalty will be imposed on late filing
This year, the government extended the last date for ITR filing from July 31 to September 15, 2025. If you do not file the return on time, you may be fined Rs 1,000 to Rs 5,000. However, you can file the return till December 31, 2025 with penalty and interest. Therefore, it is advisable to file ITR as soon as possible to avoid last minute rush.
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