ITR filing for AY 2025-26: Key documents taxpayers should keep handy for this year's process
The deadline for filing income tax returns for FY 2024-25 has been extended to 15th September 2025 for non-audited accounts. Key documents include Form 16 and interest certificates.
- Jun 25, 2025,
- Updated Jun 25, 2025 1:41 PM IST
The government has extended the deadline for filing income tax returns (ITR) for the financial year 2024-25 (assessment year 2025-26) to 15th September 2025. This extension benefits taxpayers whose accounts do not require auditing, notably salaried individuals and pensioners. However, other taxpayers must adhere to the original deadline as the extension does not apply to them. This decision aims to provide additional time for taxpayers to compile and verify necessary documents, ensuring accurate tax filings.
Filing an ITR necessitates the collection of several documents to ensure compliance and accuracy. These documents inform taxpayers about their income sources and the appropriate ITR form for submission.
Essential documents include Form 16, which details tax deducted from salaries, and interest certificates from banks, crucial for cross-referencing with the Income Tax Department's records. Additionally, bank statements are vital for identifying any unreported income, ensuring that all financial activities are accurately reflected in the tax return. Collecting these documents is the first step in the process of filing an ITR, helping taxpayers to cross-check with the information on TDS and Form 26AS.
Taxpayers engaged in specific activities, such as investing in unlisted equity shares, are required to use ITR-2, which demands detailed information about these investments. Furthermore, capital gains statements from brokers or mutual fund houses are necessary to classify gains as short-term or long-term, especially in light of the changes in capital gains taxation rules from July 2024.
These statements help taxpayers understand which gains are subject to the old rules and which are subject to the new rules, ensuring accurate tax calculations. This change in tax rules necessitates obtaining clear records to prevent errors in tax liability assessment.
Additionally, taxpayers must ensure their PAN and Aadhaar are linked, as the latter is now mandatory to mention in the ITR form. Reporting all active bank accounts is also required, regardless of whether a refund is anticipated. This comprehensive approach ensures that taxpayers have all necessary information prepped, facilitating a smooth ITR filing process.
Moreover, keeping track of all bank accounts and their details, such as account numbers and IFSC codes, is crucial for accurate reporting. This step is essential for maintaining transparency and compliance with tax regulations.[4]
To avoid discrepancies, taxpayers are encouraged to download and verify the Annual Information Statement (AIS), Taxpayer Information Summary (TIS), and Form 26AS from the income tax e-filing website. Any inconsistencies should be communicated to the tax authorities for correction. Collecting these documents remains a crucial step in meeting tax obligations accurately and on time.
Additionally, if you have invested in foreign assets or hold signing authority in a foreign bank account, reporting these is mandatory, regardless of your total taxable income. This ensures full compliance with tax regulations and prevents any legal issues. Furthermore, understanding the nuances of tax rules for foreign income can help taxpayers avoid penalties and ensure that their tax filings are comprehensive and accurate.
7 key tips for smooth ITR filing
Filing your Income Tax Return (ITR) right ensures faster refunds and avoids penalties. Keep these essential points in mind:
Pick the right form: Salaried individuals earning under Rs 50 lakh with income from salary, one house, and other sources can use ITR-1 (Sahaj). For capital gains, multiple properties, or foreign income, go with ITR-2.
Old vs New regime: Choose between the old tax regime (with deductions like PPF, NSC) and the new regime (lower rates, fewer exemptions).
Keep documents ready: Collect Form 16 and cross-check it with Form 26AS to ensure TDS and tax credits match.
Use online or offline tools: File through the new offline utility or platforms like Tax2win that auto-fill Form 16 data for easy submission.
Don’t miss deadlines: ITR filing (for non-audit cases) is due September 15, 2025. But pay self-assessment tax by July 31 to avoid penalties.
Missed earlier returns? Use ITR-U to file belated returns for the past two years and stay compliant.
Verify before you file: Double-check all information, especially bank details and tax credits, to avoid delays or notices.
The government has extended the deadline for filing income tax returns (ITR) for the financial year 2024-25 (assessment year 2025-26) to 15th September 2025. This extension benefits taxpayers whose accounts do not require auditing, notably salaried individuals and pensioners. However, other taxpayers must adhere to the original deadline as the extension does not apply to them. This decision aims to provide additional time for taxpayers to compile and verify necessary documents, ensuring accurate tax filings.
Filing an ITR necessitates the collection of several documents to ensure compliance and accuracy. These documents inform taxpayers about their income sources and the appropriate ITR form for submission.
Essential documents include Form 16, which details tax deducted from salaries, and interest certificates from banks, crucial for cross-referencing with the Income Tax Department's records. Additionally, bank statements are vital for identifying any unreported income, ensuring that all financial activities are accurately reflected in the tax return. Collecting these documents is the first step in the process of filing an ITR, helping taxpayers to cross-check with the information on TDS and Form 26AS.
Taxpayers engaged in specific activities, such as investing in unlisted equity shares, are required to use ITR-2, which demands detailed information about these investments. Furthermore, capital gains statements from brokers or mutual fund houses are necessary to classify gains as short-term or long-term, especially in light of the changes in capital gains taxation rules from July 2024.
These statements help taxpayers understand which gains are subject to the old rules and which are subject to the new rules, ensuring accurate tax calculations. This change in tax rules necessitates obtaining clear records to prevent errors in tax liability assessment.
Additionally, taxpayers must ensure their PAN and Aadhaar are linked, as the latter is now mandatory to mention in the ITR form. Reporting all active bank accounts is also required, regardless of whether a refund is anticipated. This comprehensive approach ensures that taxpayers have all necessary information prepped, facilitating a smooth ITR filing process.
Moreover, keeping track of all bank accounts and their details, such as account numbers and IFSC codes, is crucial for accurate reporting. This step is essential for maintaining transparency and compliance with tax regulations.[4]
To avoid discrepancies, taxpayers are encouraged to download and verify the Annual Information Statement (AIS), Taxpayer Information Summary (TIS), and Form 26AS from the income tax e-filing website. Any inconsistencies should be communicated to the tax authorities for correction. Collecting these documents remains a crucial step in meeting tax obligations accurately and on time.
Additionally, if you have invested in foreign assets or hold signing authority in a foreign bank account, reporting these is mandatory, regardless of your total taxable income. This ensures full compliance with tax regulations and prevents any legal issues. Furthermore, understanding the nuances of tax rules for foreign income can help taxpayers avoid penalties and ensure that their tax filings are comprehensive and accurate.
7 key tips for smooth ITR filing
Filing your Income Tax Return (ITR) right ensures faster refunds and avoids penalties. Keep these essential points in mind:
Pick the right form: Salaried individuals earning under Rs 50 lakh with income from salary, one house, and other sources can use ITR-1 (Sahaj). For capital gains, multiple properties, or foreign income, go with ITR-2.
Old vs New regime: Choose between the old tax regime (with deductions like PPF, NSC) and the new regime (lower rates, fewer exemptions).
Keep documents ready: Collect Form 16 and cross-check it with Form 26AS to ensure TDS and tax credits match.
Use online or offline tools: File through the new offline utility or platforms like Tax2win that auto-fill Form 16 data for easy submission.
Don’t miss deadlines: ITR filing (for non-audit cases) is due September 15, 2025. But pay self-assessment tax by July 31 to avoid penalties.
Missed earlier returns? Use ITR-U to file belated returns for the past two years and stay compliant.
Verify before you file: Double-check all information, especially bank details and tax credits, to avoid delays or notices.