Will you have the option to choose your tax regime?

According to income tax rules, after the deadline for filing income tax returns has passed, taxpayers can only file their returns under the new tax regime. They don’t have the option to choose a tax regime of their choice between the two tax regimes.

Returns will be filed under the default regime.

Indeed, the government has now made the new tax regime the default option. The new tax regime has lower tax rates and no tax is payable on income up to ₹11 lakh. However, under the old tax regime, several deductions such as 80C, 80CCC, and 80CD(1) are available, which are not available in the new tax regime.

Interest will be charged along with a penalty.

It should be noted that filing a belated ITR (Belated ITR Filing 2025) could result in a penalty of up to ₹5,000. Furthermore, if a tax liability arises under Section 23A, a 1% interest will also be charged on the belated ITR every month. However, if the taxpayer has already paid the tax, no interest will be charged on filing a belated ITR.

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ITR Filing 2025: If you have not filed your income tax return yet, then you do not have much time left now. The government has made the last date for filing ITR for the financial year 2024-25 15 September 2025. Earlier this date was 31 July, which was later extended. One should not wait for the deadline to file income tax return. You may make many mistakes in haste. In such a situation, if you are going to file ITR for the first time, then first of all you have to register yourself on the e-filing portal (www.incometax.gov.in) of the Income Tax Department. This portal provides many important tax related services to taxpayers online. The process of registering has now become very easy.

Any taxpayer can register on the e-filing portal of the Income Tax Department through a valid PAN (Permanent Account Number) number. Once the registration is complete, you will start getting many tax related services online. After this, filing ITR will become easy. Without registration, you can neither file ITR nor claim refund. This registration is completely free.

ITR Filing 2025: Documents required for registration
1- A valid and active PAN card

2 – Mobile number

3 – Email ID

Separate registration has to be done for each PAN card.

Let us tell you that the e-filing portal is a kind of digital platform for taxpayers , where you can not only file ITR but can also manage your tax profile. Here you get many tax related services, such as tax payment information, viewing refund status, responding to notices and checking the record of old filing.

How to register?

1 – First of all go to the Income Tax e-filing portal and click on the ‘Register’ button on the homepage.

2 – Select ‘Taxpayer’ option and enter your PAN number, then click on ‘Validate’.

3 – If PAN is valid, fill in the basic details like your name, DOB, gender and residency status on the next screen.

4 – Next, fill in the contact details like mobile number, email ID and address.

5 – Two separate OTP will be sent to the entered mobile number and email. Enter both the OTP correctly and proceed.

6 – If any information is incorrect then correct it and confirm it.

7 – Now set the password and type a security message which will appear on every login.

8 – As soon as you click on the ‘Register’ button, your registration will be completed and after that you can login.

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The last date for filing income tax returns (ITR) for the financial year (FY) 2024-25 is ending on September 15. If you have not yet filed your income tax return (ITR) this year, it is important to remember that you can claim tax deductions on many investments, but only if you have made these investments during the financial year 2024-25.

These are some of the deductions that are available to taxpayers who opt for the new tax regime.

The post ITR Filing 2025: Complete List of Deductions in New vs Old Tax Regime first appeared on Rightsofemployees.com.

Imagine, you are going to file Income Tax Return (ITR) for the first time. The online process has become easy, yet newcomers feel a little intimidated. Don’t worry. This guide will explain you step by step, like a story, how to fill ITR, how to get a copy of it and what mistakes to avoid. Remember, every Indian citizen must file his ITR, whether the income is from salary, business, property sale, shares or interest-dividend.

Deadline for filing ITR

Last day to pay no penalty: CA Santosh Mishra says that the last date to file ITR is 15 September 2025. If you file ITR by this date (for financial year 2024-25 / assessment year 2025-26), then you will not have to pay any late penalty.

What happens if you file late?

Mishra says, “Suppose for some reason you file ITR after September 15, but before December 31, 2025, in such a case you will have to pay a fine. This fine can start from ₹ 1,000 and go up to ₹ 10,000. It will depend on how much you have delayed and what your taxable income is. That is, delay can be costly.”

Let us now know the easy way to file ITR online

1. Log in to the website

First of all, go to the official website of Income Tax Department (incometax.gov.in). If you are already registered, log in by entering your user ID and password.

2. If you are new then register like this

If you are filing for the first time, you will have to register first. For this, you will have to provide your PAN, Aadhaar number and some other important information, like you do while opening a new bank account.

3. Select Menu

After logging in, you will see the ‘e-File’ menu. Go to it and click on ‘ Income Tax Returns’ and then select ‘File Income Tax Return’. Now your ITR filing journey has begun.

4. Select AY and mode

You will now be asked for the Assessment Year (AY). Since we are filing the return for FY 2024-25, select AY 2025-26. Then, select your preferred mode of filing.

5. Status and ITR Form

On the next page, you will have to specify which category you fall under. Are you an individual, Hindu Undivided Family (HUF) or any other? Select your status and press the ‘Continue’ button. Then, choose the right ITR form for you (like ITR-1, ITR-2, etc.) and also decide whether you want to remain in the old tax slab (old regime) or the new one (new regime).

The post ITR Filing 2025: Last Date, Penalty & Step-by-Step Guide first appeared on Rightsofemployees.com.

In India, freelancers have to pay their own tax, whereas the tax of employed people is paid by their company by deducting it from their salary. It is necessary for every eligible citizen of the country to pay income tax. In fact, as the time for filing income tax returns approaches, many freelancers and consultants are confused about how their tax calculation differs from that of salaried people.

The main difference is not just limited to the choice of ITR form, but also the calculation of tax, deductions and filing deadlines. While filing ITR, the income of salaried persons is taxed as ‘salary’ whereas the income from freelance or consultancy work falls under the “profits from business or profession” category. This classification determines what deductions are available and how you record.

Rules for deduction of tax

Salary class people are given Form 16 by the company. On the other hand, freelancers have to follow more stringent rules. Companies deduct tax at source before paying salary to salaried class people. On the other hand, freelancers have to manage and pay their taxes themselves. Freelancer taxpayers can choose ITR 3 or ITR 4 for filing ITR.

TDS Deduction

TDS means Tax Deducted at Source. This is a method by which the government deducts tax on your income in advance so that there is no tax evasion later. Usually the client deducts 10% TDS before making your payment and deposits it to the government under your PAN number (Permanent Account Number). You should collect Form 16A from your clients and match it with Form 26AS to ensure that the tax deducted is correct. This will allow you to claim the deducted tax while filing your income tax return and avoid paying tax again.

Do all freelancers have to register under GST?

If your annual income is more than Rs 20 lakh (or Rs 10 lakh in some states), you must register under GST. After registration, you will have to pay 18% GST on invoices to your customers in India. GST registration and filing of returns from time to time may be necessary. Following the rules not only helps in avoiding penalties but also ensures that your business continues without any interruption.

How to do tax filing?

Freelancers usually have to file taxes using ITR-3 or ITR-4 form . If you opt for presumptive taxation under section 44ADA, you can pay tax on 50% of your total income. This method is easy and does not require much calculation. You should also keep the receipts of professional expenses like your office rent, internet bill, software subscription etc. This can help you reduce your taxable income.

The post ITR Filing 2025: Key Tax Rule Differences for Freelancers vs Salaried Employees first appeared on Rightsofemployees.com.

What is the reason for the delay?

According to tax experts, major technical and structural changes made in the income tax return forms are the main reason behind this delay.

The post ITR Filing: ITR-5, ITR-6 & ITR-7 Utility Delay: Reasons and Expected Release Date first appeared on Rightsofemployees.com.

The last date for filing Income Tax Return (ITR) is approaching. ITR can be filed till September 15, 2025 without any charge. Also, if you think that it takes a lot of time to get income tax refund, then now the times have changed. In the last 11 years, tax refunds have not only increased rapidly, but the time taken to process them has also reduced significantly.

The Income Tax Department had issued a total refund of ₹ 83,008 crore in the financial year 2013-14, but this has increased to ₹ 4.77 lakh crore in the financial year 2024-25. Thus, there has been a tremendous increase of 474 percent in refunds in the last 11 years.

Long waits for refunds are now a thing of the past!

Not only that, while earlier it took an average of 93 days to receive a tax refund, this time has now been reduced to just 17 days, meaning taxpayers will no longer have to wait long.

The number of people filing ITRs has also doubled.

In addition, the number of people filing Income Tax Returns (ITRs) has also more than doubled. There has been a 133 percent increase in income tax returns filed since 2013. While 3.8 crore income tax returns were filed in 2013, now in 2024, this number has increased to 8.89 crore. In addition, total direct tax collection has increased by 274 percent from Rs 7.22 lakh crore in 2013-14 to Rs 27.03 lakh crore in 2024-25.

Reforms in the tax system

Government sources say that digitization of the tax system, faster processing and better technology are the reasons behind this reform. Digital India and transparent tax system have made this entire change possible.

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The post ITR Filing 2025: Income tax refund now instant, money received in 17 days, down from 93 days first appeared on Rightsofemployees.com.

The deadline for filing returns this year is September 15

Earlier, only ITR-1 and ITR-4 were live for online return filing. This year the last date for filing Income Tax Return is 15 September. Generally, the last date for filing Income Tax Return is 31 July. But, in the Union Budget last year , the government had changed many rules including Capital Gains Tax. According to this, changes in Income Tax forms were necessary. After the necessary changes, the department is making the revised forms live.

What type of taxpayers is ITR 2 for

ITR-2 form is used by individuals and Hindu Undivided Families (HUC) who do not have income from business or profession. Generally, this form is used by taxpayers whose income comes from sources like salary, pension, capital gains. People who have income from more than one house property can use this form. Taxpayers who have short term or long term capital gains or loss on investment or sale of property can use this form. If a taxpayer has income from winning lottery or horse race, then he can use this form. Non-resident or resident non ordinarily can use ITR Form 2.

What type of taxpayers is ITR 3 for

ITR Form 3 is for individuals and Hindu Undivided Families (HUF) who have made profit or loss from business or profession. This form is used a lot, due to which it is called a master form. In this form, information can be given about income from house property, salary/pension income, capital gains and income from other sources. If income is earned from a partnership firm, then this form can be used.

The post ITR Filing 2025: ITR-2 and ITR-3 forms activated, know who can use them first appeared on Rightsofemployees.com.

But, it is not that easy. The Income Tax Department can reject your claim for a small mistake in claiming HRA. It is important to keep in mind that you can claim HRA only if you use the old regime of income tax. Claiming HRA is not allowed in the new regime.

Usually, salary includes HRA. This is the money that the company (employer) gives you for the payment of house rent. Therefore, it is exempted because it is considered that you have used this money for the payment of house rent. But, there are some conditions to claim HRA. First, it is necessary to be a salaried taxpayer. Second, you must live in a rented house. Third, you must pay the rent. Fourth, you must have proof of paying the rent. The Income Tax Department asks you for the rent agreement and rent receipt.

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The question is how much HRA can a taxpayer claim? There is a formula for this. First, how much HRA do you get from the employer. Second, if you live in a metro city, then 50% of the salary (basic plus DA) and if you live in a non-metro city, then 40% of the salary (basic plus DA). Third, the actual rent paid minus 10% of the salary (basic plus DA). Out of these three, whichever amount is the lowest, you can claim HRA on that amount.

If you give a fake rent receipt, your HRA claim may be rejected. Even if you give a rent receipt of a higher amount, your claim will be rejected. Income tax rules allow claiming HRA on rent paid to parents. But, you must have proof of this rent payment. This means that if you pay house rent to your father, then this income should be included in the father’s income tax return.

To claim HRA, it is necessary to have a rent agreement. After that, you should also have the receipt of rent payment during the relevant financial year. Finally, you should also have the PAN of the landlord. Salaried taxpayers are required to send the information of these things to the finance department of the employer by the first or second week of January every year. If you do not send this proof to the finance department, then your HRA claim may be rejected.

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There are many types of income in India on which income tax is not levied. No tax has to be paid on such income. The government has kept these incomes in the tax free category. Know here what are these 10 incomes.

Agricultural Income – Income from agriculture is completely tax free under Section 10(1) of the Income Tax Act.

Money received from insurance policy – ​​The maturity or bonus amount of a life insurance policy is tax free subject to certain conditions.

Interest and total amount received from Public Provident Fund (PPF): The interest received on the amount deposited in the PPF account and the amount received on maturity are completely tax free.

Scholarships and Government Awards – The amount of scholarships received from the government or recognized institutions and state or national awards like Bharat Ratna, Arjuna Award etc. are tax free.

Gifts received from relatives: Gifts received from close relatives are tax-free under certain conditions. Gifts received at the time of marriage are also tax-free.

Receipt received from HUF – The amount received by the member from HUF is tax free.

Retirement benefits: Gratuity up to certain limits, holiday cash (for government employees) and certain categories of pension are tax free.

Medical insurance, certain allowances received from office – such as medical insurance premium, meal coupons, office telephone, internet bills etc. are tax free up to certain limits.

PF, NPS, Senior Citizen Savings Scheme – The interest or maturity amount received from these investments is tax free subject to certain conditions.

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The post 10 Types Of Income Which Are Tax Free – Key Details inside first appeared on Rightsofemployees.com.

NPCI issued a circular stating that it has launched a new application programming interface (API). It will facilitate the verification of PAN details, bank account status and account holder’s identity in real time. This data will be verified directly from the Core Banking System (CBS) of banks.

“This API will help government departments to verify customer account details such as PAN validation, account status and name of the account holder with the CBS of their bank,” the circular said.

What is API?

An API is a software bridge that allows two different systems to share data securely. In this case, this API will allow a government platform like the Income Tax portal to receive verification data directly and securely from the internal systems of banks.

NPCI has requested all member banks to implement this facility on priority basis as this service is being provided to the Government of India.

What does this mean for taxpayers?

This new verification facility can bring several benefits to taxpayers:

• The process of linking PAN and bank account will be faster.
• The possibility of manual error in verification will be reduced.
• Refunds and other tax payments will be received quickly and securely.
• The process of data verification will be more reliable and secure.

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The post ITR Filing 2025: NPCI has launch real time PAN-bank account validation on income tax portal first appeared on Rightsofemployees.com.

Income Tax Return filing 2025 for FY 2024-25 or Assessment Year 2025-26 has officially started. More than 1.23 lakh returns (ITR) have been filed in the first five days. 90% of these returns have also been verified. Now people’s attention is on when the Income Tax Department will start processing returns and refunds (ITR refund status).

Return filing started late this year

The Income Tax Department has started the filing process for FY 2024-25 with the release of Excel-based utility (V1.0) and validation tool. These tools support ITR-1 (Sahaj) and ITR-4 (Sugam). Soon after releasing the offline tool, the department also started online filing of ITR-1 and ITR-4 with pre-filled data through the e-filing portal.

This year’s ITR filing started later than usual due to the delayed release of the forms and related utilities. ITR forms were made available by the end of April, but the filing utilities were made available only after some time.

So many returns filed in the first five days

After the delayed start, taxpayers are filing returns rapidly. Within just 5 days of the release of the utility, more than 1.23 lakh (ITR e-filing statistics) ITRs were filed and more than 1.12 lakh were verified. Now the question arising in the minds of taxpayers is when will the processing of ITR and the refund process start.

Till when will the processing of returns and refund take place

Broking firm Angel One has written in a blog that the Income Tax Department can start processing returns by mid-June 2025. In the absence of any mistake on the part of the taxpayer, the refund usually arrives in his bank account within 5 to 7 days of the issuance of the information.

Before processing the return, the Centralized Processing Center (CPC) verifies the data filed in the return from third-party sources. These sources include Form 26AS, Annual Information Statement (AIS) and Taxpayer Information Summary (TIS).

This data is filled based on the information provided by financial institutions, employers and other entities during TDS returns. The last date for filing TDS returns for the previous quarter is May 31, so the final data is expected to appear on the income tax portal soon.

The CPC starts processing the return only after successful verification. This verification can be completed using Aadhaar OTP, net banking or by physically submitting the ITR-V at the Bengaluru CPC office. Without verification, the return is not processed.

Finance Minister Nirmala Sitharaman had told the Parliament that in 2013, it took an average of 93 days to process returns, now due to technology upgradation, this time has been reduced to about 10 days.

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If you are also thinking of filing returns, then definitely check Form 26AS, an important document because it can save you from notice. If you want to file ITR without mistake and want to avoid tax notice, then definitely check Form 26AS.

What is Form 26AS?

Form 26AS is a consolidated tax statement issued by the Income Tax Department. It contains information about all tax deductions, advance tax, TCS (Tax Collected at Source), refunds and high-value transactions made on your PAN. By looking at it, you can know how much tax has been deposited on you and whether any tax has been missed.

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The Income Tax Department has clarified that now there will be no exemption just by entering a lump sum amount. It will be necessary to provide detailed breakup for all deductions and details of related investments or expenses. The purpose of this is to stop wrong deductions and fake refund claims.

What changes have been made in tax deductions?

The post ITR Filing 2025: Rules have become strict for the old tax regime, now deduction will not be available without proof first appeared on Rightsofemployees.com.

Earlier the deadline for non-audit category taxpayers was 31 July, that is, now they have got 45 days extra time. Filing ITR means giving complete information about your income, tax saving investments, tax deductions and tax payment to the government. According to the Income Tax Act, 1961, if your annual income is more than the basic exemption limit, then it becomes necessary to file ITR.

This time the tax department has given this extension in view of the changes in the ITR form, problems related to TDS and other technical reasons. Meanwhile, the department has also released ITR utility tools, which make online ITR filing easier.

How to file ITR?

ITR filing can be done both offline and online, but most people now prefer to file returns online through the e-filing website. PAN based user ID is used to login to this portal and pre-filled information is also available in it, which makes the process even easier.

Salary class people should wait a little

Although ITR forms and utilities are now available, salaried class people usually start filing returns only after June 15. The reason for this is Form 16, which is the most important document for employed people and most companies issue it in the last week of June or early July.

Documents required to file ITR

As soon as you get Form 16, other necessary documents also have to be collected like Form 26AS, Annual Information Statement (AIS), Tax Information Statement (TIS), bank statement and interest certificate etc. All these help in cross checking the income and tax details. After this, the next step is to choose the right ITR form. The Income Tax Department has issued a total of 7 forms from ITR-1 to ITR-7 for the financial year 2024-25. Of these, ITR-1 to ITR-4 are generally for individuals and HUFs.

Easy way of e-Filing- Step by step guide

step 1:

• Go to the Income Tax e-filing website and click on ‘Login’
• Enter your PAN number in the User ID field
• Click on ‘Continue’ and enter the password
• Then press ‘Continue’ again and login

Step 2 – Go to ‘e-File’ tab > select ‘Income Tax Returns’ > ‘File Income Tax Return’

Step 3:

• Select ‘AY 2025-26’ as Assessment Year
• Select ‘Online’ in the filing mode
• Choose either Original or Revised return option in filing type

Step 4:

• Select your status – Individual, HUF or Others
• For most people, ‘Individual’ is the option they have to select.

Step 5 –

• Now choose the correct ITR form
• This is decided according to your income source

Step 6:  Specify the reason for filing – like your income exceeds the tax exemption limit or you fulfil certain criteria

Step 7:

• Check the details already filled in the system – like PAN, Aadhaar, name, contact and bank details
• Also verify your income, exemptions and deduction details carefully

Step 8:

• Finally, verify your ITR
• You can do this through methods like Aadhaar OTP, Net Banking, EVC
• Or you can take a printout of ITR-V, sign it and send it to CPC, Bengaluru.

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The post ITR-1 and ITR-4 utilities released, filing returns will be easier; Know how to use them first appeared on Rightsofemployees.com.

However, whether it is an online process or an offline process, it is very important to understand both these processes to avoid mistakes and penalties due to last minute rush, so their step-by-step process is being given here. Note that under the new tax regime, people with income more than Rs 3 lakh are required to file ITR, whether you have a tax liability or not.

Whereas under the old tax regime, people below 60 years of age are exempted from this tax up to Rs 3 lakh, senior citizens between 60-80 years of age are exempted from this tax up to Rs 3.5 lakh and super senior citizens i.e. people above 80 years of age are exempted from this tax up to Rs 5 lakh. Apart from this, it is also mandatory to file return on electricity bills of more than Rs 1 lakh or expenditure of more than Rs 2 lakh on foreign travel or deposit of more than Rs 1 crore in current account.

Mode of offline filing

The post ITR Filing 2025: How to file ITR form, understand each step in easy language first appeared on Rightsofemployees.com.

In such a situation, taxpayers have got more time to file returns. Let us tell you that the Income Tax Department said, the last date for filing ITR has been extended from 31 July 2025 to 15 September 2025. That is, taxpayers will get 45 days more time to file returns.

Information on X

The tax department wrote in its post, ‘Attention taxpayers! In view of major changes in the ITR form, system development requirements and delay in availability of TDS credit information, CBDT has extended the date for filing ITR by 31 July 2025 to 15 September 2025. This will make the process of filing returns easier for taxpayers and make the process of filing returns more accurate. Its official notification will also be issued soon.’

Due to this the last date for ITR Filing 2025 was extended 

In fact, the Central Board of Direct Taxes (CBDT) said in its statement that this time many amendments have been made in the Income Tax Return (ITR) forms. The reason behind this is to simplify the tax filing process, increase transparency and ensure accurate information. Due to the amendments in the ITR forms, it is taking more time to update the software and systems required for the form process. Apart from this, Tax Deducted at Source (TDS) statement has to be filed by 31 May 2025. In such a situation, if the last date is not extended, then taxpayers do not get enough time.

These taxpayers benefit the most

Let us tell you that the biggest benefit of this decision of the Income Tax Department is going to be to the salaried and general taxpayers. Actually, there is no need to audit their accounts. Therefore, the last date for filing returns for non-audited taxpayers was 31 July 2025. At the same time, with the increase of 45 days in the last date, salaried taxpayers will be able to take more time for their tax planning and details of TDS credit.

The post ITR Filing 2025: Last date for ITR filing extended, know the new date first appeared on Rightsofemployees.com.

Many changes in ITR forms this year

This year, some changes have been made in the Income Tax Return forms. In the Union Budget presented in July last year , the government changed the rules of capital gains tax. Then in the budget presented in February this year, the government changed the tax slabs in the new regime of income tax. Therefore, it became necessary to change the income tax forms. For example, till last year, ordinarily resident Indian taxpayers could use ITR-1 (Sahaj) if their sources were only salary/pension, one house property, interest from savings/fixed deposits, dividends and agricultural income less than Rs 5,000.

Now you can use ITR-1 on LTCG also

This year, if a taxpayer makes long term capital gains by selling listed shares or units of equity scheme of a mutual fund, he can still use ITR-1 form. The only condition is that the capital gains should not exceed Rs 1.25 lakh in FY25. In this way, the government has increased the scope of use of ITR-1 i.e. Sahaj form. This is good news for taxpayers, especially salaried taxpayers.

The easiest way to use ITR-1

ITR-1 form is the simplest form. It is for those salaried or pension receiving taxpayers who do not have many sources of income. Many details are pre-filled in this form. For example, filing returns becomes very easy as income details and financial transaction details are pre-filled. Taxpayers can check the data in ITR-1 form with the data in Form 16, AIS and Form 26AS.

Terms of use of ITR-1

Sahaj i.e. ITR-1 form can be used only by such individual taxpayers whose annual income is not more than Rs 50 lakh. Their sources of income should be only salary/pension, one house property, interest from savings/fixed deposits, dividend and agricultural income less than Rs 5,000. From this year, such taxpayers can also use this form, who have made long term capital gains of less than Rs 1.25 lakh on selling shares or units of equity mutual funds.

ITR-2 can be used in these situations

If the annual income of a taxpayer is more than Rs 50 lakh, then he cannot use ITR-1. If the long term capital gains of a taxpayer are more than Rs 1.25 lakh in a financial year, then he cannot use ITR-1. If a taxpayer is a director in a company, then he cannot use ITR-1. If a taxpayer has shares of a non-listed company, then he cannot use ITR-1. If there is income from abroad, then also ITR-1 cannot be used. In such situations, taxpayers will have to use ITR-2 form.

The post ITR Filing 2025: Salaried taxpayers can choose either ITR-1 or ITR-2, know the difference between the two first appeared on Rightsofemployees.com.

Form 16 is actually a TDS certificate, which is issued by the employer. It contains information about your annual salary, tax deductions and exemptions like section 80C, 80D. But if for some reason you are unable to get Form 16, then do not panic, you have other options to file ITR. Companies do not give Form 16 to those employees whose salary does not come under the purview of tax and whose TDS is not deducted. These employees can file ITR even without this form.

If you do not have Form 16, then you can file ITR with the help of some important documents. Form 26AS is the most important among these. It is a tax credit statement, which contains complete information about the amount of tax deducted from you. Form 26AS contains information about TDS and TCS. It also contains details of the person’s advance tax and high value transactions.

How to download Form 26AS

• Visit the e-file portal https://www.incometax.gov.in/iec/foportal/.
• Here you will see the My Account option. Click on the View Form 26AS link in it.
• After this, select the assessment year in it and click on view time.
• After this click on the download option. The form will be downloaded.

These documents will also be needed

While filing ITR without Form 16, you will need many other documents besides Form 26AS. Salary slip is the most important among these. Especially from the March month’s slip, you can get a complete calculation of your annual income and tax deduction. If you do not have slips, then definitely get the annual income statement from the employer.

Bank statement

The bank statement shows when and how much salary you received, how much interest you received and in which investments the money was invested. If you have earned through rent or freelancing, that will also be visible here.

The post ITR Filing 2025: Can ITR be filed without Form 16? Know when and who does not need it first appeared on Rightsofemployees.com.

The biggest change is that now taxpayers will get 48 months i.e. 4 years to file updated returns. Earlier this time limit was 24 months, which has been extended in the Finance Act 2025. This means that you can now file updated ITR for the financial years 2020-21, 2021-22, 2022-23 and 2023-24 as well.

You will have to pay more tax if you file late

The post ITR Filing 2025: New ITR-U form notified, know the major changes before filing first appeared on Rightsofemployees.com.

In fact, many times the application gets rejected due to a slight mistake. In case of mistake, you may not only have to pay penalty but may also get a notice from the tax department.

To avoid penalty, delayed refund or scrutiny by the Income Tax Department, it is important to be careful while filing your taxes.

Today we will tell you what kind of common mistakes are often made while filing income tax returns and how they can be avoided.

Prepare early to avoid last minute rush

ITR forms for FY 2024-25 are available. This means you can start preparing to file returns from now onwards. People often make mistakes in a hurry near the deadline. Due to this, they either have to file the return again or have to face a notice from the Income Tax Department.

Choosing the wrong form

One of the common mistakes people make while filing returns is selecting the wrong ITR form. There are seven different forms for different income and taxpayer categories. If you do not select the right form, your return will be invalid and you will have to file ITR again.

For example, if you are employed and you have filled ITR-3 or ITR-5 form, which is for those having business or professional income, then it will become invalid and you will have to file ITR again.

You may have to pay a fine if you miss the deadline

The last date for filing ITR is 31 July 2025. If a person files the return after this date, he may have to pay a fine of up to Rs 10,000. Not only this, if you file the return late, you will not get the benefit of tax deductions and the losses cannot be carried forward. Therefore, filing the return on time is not only legally mandatory, but it is also beneficial for you.

Disclose income from all sources

Many times people show only their main income, such as their salary or business income, while filing returns. They forget to mention income from other sources or deliberately try to hide it. Do not make this mistake as it can cost you dearly. Other incomes such as interest on savings or fixed deposits, income from rent or capital gains from mutual funds. It is important to mention income from all these sources.

If you hide such income, the tax department can easily know about it from your Form 26AS or AIS (Annual Information Statement) and can send a notice if caught.
After filing the return, its verification is also necessary

Many times people file the return but forget to verify it. Let us tell you that any return without verification is considered invalid. That means after filing the return, it is equally important to verify it. You can do the verification process online through Aadhaar OTP or net banking. Remember this step is mandatory.

Must review Form 26AS and AIS

Before filing the return, you should review your Form 26AS and AIS (Annual Information Statement). These documents show which transactions have taken place in your name and how much tax has already been deducted. If the information you have given in the form does not match with these documents, then it can immediately come to the notice of the tax department. Therefore, it is important that the information you have filled while filing the return matches with these.

The post ITR Filing 2025: Do not make these 5 mistakes while filing income tax, otherwise you may be fined first appeared on Rightsofemployees.com.

The most prominent of these changes include relief on small long term capital gains (LTCG), increased threshold for reporting of assets and liabilities, and more detailed reporting of capital gains.

ITR-1 (Sahaj): LTCG relief for small investors

The post ITR Filing 2025: CBDT has all ITR forms notified, Key major changes details Here first appeared on Rightsofemployees.com.

In such a situation, it is important for taxpayers to understand the important sections of the Income Tax Act, 1961 which help in getting tax exemption and correct tax calculation.

Section 139(1): Mandatory to file ITR if income exceeds prescribed limit

Under Section 139(1), it is mandatory for any person or entity to file income tax returns if their annual income exceeds a prescribed limit. This section also applies in cases where the return is filed voluntarily.

Section 10(13A): HRA exemption on rented house

If a person lives in a rented house and pays rent of more than ₹ 1 lakh annually, he can avail tax exemption on House Rent Allowance (HRA) under section 10(13A). For this, some rules have to be followed.

Section 80C: Deduction up to ₹1.5 lakh on tax saving investments

Taxpayers following the old tax regime are eligible to get a deduction of up to ₹1.5 lakh on investments such as PPF, EPF, ELSS, tax saving FD, and life insurance premium under section 80C. However, this exemption is not available in the new tax regime.

The new system allows deduction of up to 10% of employer’s contribution to NPS only under section 80CCD(2). Apart from this, deduction can be claimed on certain expenses under sections 80JJAA and 80CCH.

Section 80D: Deduction up to ₹1 lakh on health insurance

Tax exemption on premiums paid on health insurance is available under section 80D. If the taxpayer and his family members are below 60 years of age, the maximum exemption is up to ₹25,000. For those aged 60 years or above, the limit is ₹50,000. There is a separate exemption for parents, which can take the total exemption to ₹1 lakh.

Section 24B: Home loan interest deduction up to ₹2 lakh

Interest paid on home loan or home improvement loan is eligible for deduction up to a maximum of ₹2 lakh under section 24B. This deduction is available in both the old and new tax regimes.

Section 234F: Penalty for late filing of ITR

If a person files ITR after the due date, then a penalty is imposed on him under section 234F. For those with income less than ₹5 lakh, this penalty is ₹1,000, while for those with income more than ₹5 lakh, the penalty can be up to ₹5,000. Apart from this, interest may also have to be paid under sections 234A and 234B.

Know from the experts who are required to file ITR? (Applicable only to individual taxpayers)

According to tax expert Balwant Jain, under various provisions of the Income Tax Act, it becomes mandatory for individual taxpayers to file ITR in certain situations, even if their total income does not fall under the scope of tax liability. Let us know in which cases it is necessary to file ITR:

1. Gross income exceeds the basic exemption limit

It is mandatory to file ITR if your total income (before deductions under sections 80C, 80D, 80G, etc.) exceeds the following limits:

General individual: ₹2.5 lakh

Residents above 60 years of age: ₹3 lakh

Residents above 80 years of age: ₹5 lakh

Equal exemption for all in new tax regime: ₹3 lakh

Long term capital gains (LTCG) will also be added to this.

2. Have property or signature authority abroad

If you are a resident taxpayer in India and:

You have any property in your name abroad (even if there is no balance amount)

If you have a foreign bank account or share in a property or have signature authority, it
is mandatory for you to file ITR.

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When will ITR filing 2025 start?

The post ITR Filing 2025: When will Form 16 be available, when will income tax return filing start? first appeared on Rightsofemployees.com.

This feature allows users to pay income tax through various methods such as net banking, debit card, over-the-counter payment, NEFT/RTGS or payment gateway. Let us also tell you how users can use this feature.

How to use e-pay tax feature

• Visit the official Income Tax e-filing website and click on the e-Pay Tax link available under Quick Links.
• Enter your PAN twice and your Aadhaar-linked mobile number.
• Verify with the 6-digit OTP sent to your mobile phone to proceed.
• Your PAN and name will be displayed in redacted format for confirmation.
• Select the purpose of your payment: Income Tax, Demand Payment, Equalization Levy/STT/CTT, or Fees/Other Payment.
• Select the financial year and the corresponding tax head from the dropdown menu.
  Enter the tax amount you want to pay.
• Select payment mode and your bank.
• Review the preview page once, which includes details such as category, subcategory, financial year and payment method.
• Click Pay Now to complete the transaction.
• This streamlined process helps taxpayers avoid delays and ensures secure, direct payments to the Income Tax Department.

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Who is required to file ITR?

Filing ITR is mandatory for all individuals whose annual income exceeds the basic exemption limit. If your income does not fall under the tax bracket, you can still file zero ITR.

In some cases, it becomes mandatory to file ITR even if your taxable income is less than the exemption limit. Such as bank deposits of more than ₹ 1 crore, savings account balance of more than ₹ 50 lakh.

Tax rates in the new tax regime (FY 2025-26)

The post ITR Filing 2025: Are you filing income tax return online? Keep these 5 things in mind first appeared on Rightsofemployees.com.

Therefore, to avoid such problems while filing tax return, it is important to keep all the necessary documents ready with you in advance. Although every taxpayer may need different documents according to his income and financial transactions, but there are some documents which are needed by most people.

Whether you work in a company, are a business owner or have many other sources of income, some documents are mandatory for all taxpayers. To help you, today we are going to tell you a checklist of such documents.

List of documents required to file ITR

Given below is the list of important documents you will need to file ITR for the financial year 2024-25 (assessment year 2025-26).

PAN Card: First comes your PAN (Permanent Account Number), which is very important for filing your ITR. It is used for TDS deduction and keep in mind that it should be linked to your bank account for direct income tax refund. If you are not getting your PAN card, then you can also use your Aadhaar number to file ITR.

Aadhaar Card: Under Section 139AA of the Income Tax Act, you have to provide your Aadhaar details while filing your return. If you have applied for Aadhaar, and you have not received it yet, then you can use the enrollment ID in your ITR. Linking PAN and Aadhaar allows online verification of your ITR through OTP.

Form 16: This document is issued by your employer i.e. company and contains details of your salary and TDS (Tax Deducted at Source). This is a very important document for salaried individuals filing ITR. Form 16 has two parts: Part A contains details of tax deducted by the company, and Part B contains TDS calculations such as salary breakup.

Form-16A/ Form-16B/ Form-16C: These forms are required for TDS deducted on income other than salary (such as deposits or income from sale of property). Form 16A is issued to you by the bank or paying institution, while Form 16B deals with property transactions and Form 16C deals with rental income.

Bank Account detail: You have to disclose all active bank accounts in your ITR, as well as specify an account for tax refund. Bank statement or passbook is required to report interest earned on savings account or fixed deposit.

Form 26AS: This is an annual tax statement which shows the tax deposited against your PAN. In simple words, Form 26AS contains details of all your important financial transactions during the entire financial year. It includes TDS details of bank, employer or other organization. To claim tax credit, it is necessary to match the information filled in your return with the details given in Form 26AS. If there is a difference between the two, the Income Tax Department can ask for clarification from you.

Home Loan Statement: If you want to claim tax exemption on the interest on your home loan, then keep the home loan interest certificate ready with you, because you will need it while filing ITR. If you have taken a home loan, then you will easily get this statement from the bank.

Tax Saving Instruments : Keep documents related to tax-saving investments such as FD (Fixed Deposit) or Equity Linked Savings Scheme (ELSS) ready for filing tax returns, especially if you want to claim tax deduction of up to Rs 1.5 lakh.

Capital gains details: If you have sold an asset like shares or property, keep the broker statement or sale deeds to report the capital gain or loss on it.

Rental income: You will also have to declare the rental income from the property in your ITR.

Foreign income: To claim tax benefit or DTAA (Double Taxation Avoidance Agreement) benefit, documents related to income earned abroad are required. Actually, taxpayers can claim deduction on tax paid to foreign governments in their country of residence i.e. where they live.

Dividend income: It is necessary to show dividend income from investment in shares or mutual funds while filing returns. For this, details can be taken out from broker statements or Demat account summaries.

By keeping all these documents ready while filing returns, you can make your tax filing process easier. Keep all these documents safe to show to the tax consultant or the Income Tax Department later if needed. Let us remind you that the last date for filing ITR for the financial year 2024-25 (assessment year 2025-26) is July 31, 2025.

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Additional tax will have to be paid

Finance Minister Nirmala Sitharaman gave the facility to taxpayers under the Finance Act 2022 that they can revise their filed ITR and file it again within two years. In such a situation, if you also want to update your return for Assessment Year 2022-23 or Financial Year 2021-22, they will have to file it by March 31, 2025. However, to file updated returns, additional tax will have to be paid as per the new provisions.

Under what circumstances can you file updated ITR?

Taxpayers can file updated ITR under several circumstances. However, there are some exceptions in which filing of returns is not allowed. Updated ITR can also be filed by taxpayers who had previously claimed loss under section 139 (3).

The government has introduced this rule to give taxpayers an opportunity to ensure compliance and accuracy in their tax filing without facing any penalty or legal consequences.

Under these circumstances updated ITR cannot be filed?

Let us tell you that there are some circumstances in which updated income tax return cannot be filed. Let us know.

1. Updated ITR cannot be filed if the tax liability is reduced as a result of revised income.

2. If a tax refund or higher return is received on filing the updated return, then it cannot be filed.

3. If a taxpayer is being investigated by the tax authorities, then he cannot file an updated return.
4. It cannot be filed even if the documents are seized or demanded by the Income Tax Department.

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The post ITR Filing 2025: Last date to file updated ITR is near, know what is the last date? first appeared on Rightsofemployees.com.