If you have not yet filed your income tax return (Income Tax Return Filing 2025), then you do not have much time now. The government has extended the last date for filing ITR for the financial year 2024-25 from 31 July to 15 September 2025. But it would be wrong to think that now you will be able to pay tax comfortably. Often people make mistakes in a hurry near the deadline (ITR Filing Deadline), which is very important to avoid.

Is it necessary for you to file ITR?

If your total annual income is Rs 2.5 lakh or more under the Old Tax Regime and Rs 3 lakh or more under the New Tax Regime, it is mandatory for you to file ITR, even if you are not liable to pay tax.

Let us know about those 10 things which must be kept in mind while filing ITR so that you do not have to face problems like delay in ITR refund, ITR notice or penalty.

Choosing the wrong ITR form

There is a different ITR form for every person. If you are salaried, annual income is less than ₹ 50 lakh and there is no capital gain, then you can fill ITR Form 1. But if you choose the wrong form, your return may be defective and you may get a notice from the IT department.

Writing the wrong assessment year

This year you are filing the return for the financial year 2024-25, so the assessment year will be 2025-26. Many people get confused about this and fill the old or the next year, due to which the return may be rejected.

Mistake in personal details

It is common to fill in basic information like name, mobile number, date of birth, PAN, email ID or bank account details incorrectly, but this can delay your refund. So fill in each and every detail carefully.

It is necessary to give information about all income

It is important to include not just salary or business income, but also interest received on savings account, FD interest, rental income, short term gains from shares, etc. Hiding income can lead to notice or penalty in the future.

Take care of the format

While filling the information in the ITR form, take care of the correct format. For example, filling the date, name, IFSC code etc. in the wrong format can lead to technical errors.

Choosing the wrong tax regime

Now you have the option to choose between the old and the new tax system. But if you do not choose the right option, you may end up paying more tax than necessary. Understand your tax calculation before filing your return.

Don’t forget to verify your ITR

Many people forget after filing the return that it is also necessary to e-verify it. If you do not verify the ITR, it will not be considered filed. For this you can use Aadhaar OTP, netbanking or other options.

Don’t forget to claim tax exemptions

If you have earned money from the sale of a property and reinvested the money, you can avail tax exemption under section 54, 54EC or 54F. Do not forget to provide these details.

Ignoring advance tax

If you are self-employed or TDS is not being deducted on your income, then it is necessary to pay advance tax on time. If you paid less tax or did not pay it at all, then 1% interest may be charged every month on the remaining amount.

Do not ignore tax notices

If you have received a notice from the Income Tax Department, do not ignore it. Failure to respond on time may result in a penalty or legal action.

Filing ITR is not just a formality but a part of your financial planning. If you have not filed your return yet, then file it before 15 September. Keep these important things in mind while filing your tax. This will not only solve your tax related problems but will also strengthen your financial records.

The post ITR Filing Deadline Extended: 10 Key Tips to Remember When Paying Your Income Tax first appeared on Rightsofemployees.com.

It is mandatory to file income tax returns on time. If this is not done, one has to face legal problems. Now the government has given a big relief to the corporates and extended the deadline for filing ITR for them by 15 days to November 15. This information has been given by the Income Tax Department. The Central Board of Direct Taxes (CBDT) on Saturday extended the deadline for corporates to file ITR for the financial year (FY) 2023-24 i.e. asset year (AY) 2024-25. This year corporates can file till November 15 instead of October 31.

Earlier the deadline for filing tax audit report was extended

This extension in ITR filing will apply to taxpayers covered under sub-section (1) of section 139 of the Income Tax Act, 1961. Earlier, the government had extended the deadline for submitting tax audit report from the initial deadline of 30 September 2024 to 7 October 2024. Under the Income Tax Act, certain taxpayers are required to get their income tax audit done and its report has to be filed by 30 September in the assessment year.

They will not get the benefit of deadline extension

Talking to news agency PTI, Sandeep Jhunjhunwala, tax partner of Nangia Andersen, said that the deadline for filing ITR has not been extended for those for whom transfer pricing provisions and audit will be applicable. There will be no extension in the case of tax audit under section 44AB and transfer pricing under section 92CE and taxpayers will have to file ITR by October 31.

According to Sandeep Jhunjhunwala, this deadline has been extended so that corporates get more time and they can easily file ITR. Rajat Mohan, senior partner of AMRG & Associates, says that no official reason has been given for extending the deadline, but one reason for this could be the festive season so that one does not have to face the problem of filing ITR during the festive season.

Related Articles:-

New NPS Rule: Can you invest even after retirement? these are the rules

DA Hike: Diwali gift to government employees in this state, DA hiked by 3%

Indian Railway Alert! Central Railway has banned platform tickets at these stations till 8 November 2024

The post ITR Filing Deadline Extended: Deadline for filing ITR has been extended for these taxpayers, check new date here first appeared on Rightsofemployees.com.