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Last date for income tax return filing

Income tax return: The last date for filing income tax returns (ITR) for FY 2024-25 is coming close. If you have not yet filed your ITR, it is the right time to complete it as soon as possible. The Income Tax Department has clarified that the last date for ITR filing is 15 September 2025. Keeping this date in mind, the department has also issued an alert to the taxpayers. Let us know what are the rules of ITR filing and for whom it is mandatory.

Reminder for ITR filing

The Income Tax Department has started sending taxpayers reminders. According to the department, more than 3 crore ITRs have been filed so far. The reminder states, “Before 15 September 2025, do your ITR e-file and e-verify.” This appeal is for taxpayers who do not apply the audit and which is required to file returns by the scheduled date. Take immediate action to avoid delay so that penalty can be avoided.

When is it necessary to file ITR?

According to the Finance Act 2024, if your total income is more than the basic exhalation limit, it is mandatory to file ITR.

• New Tax Regime: 3 lakh rupees
• Old Tax Regime: 2.5 lakh rupees

If your income is more than these limits, then you have to file returns. In addition, if your income is less than these limits but you have done high -value transactions, such as large bank deposits, expensive travels, or electricity bills, ITR filing may be necessary. Also, if you want to claim TDS refund or keep foreign property/income, it is mandatory to file returns.

Does less than 3 lakh income require ITR?

The question in the mind of many people is, “If my salary is less than 3 lakhs, do I have to file ITR?” The answer depends on your financial condition. For example, suppose a 35 -year -old man has an annual salary of Rs 2.5 lakh and has received a long -term capital gain (LTCG) of Rs 70,000. Also, he has taken a deduction of Rs 1 lakh under 80C. The calculation in Old Tax Regimm will be as follows: Salary 2.5 lakh + LTCG 70,000 – 80C deduction 1 lakh = total 2.2 lakh rupees. Since this amount is less than the limit of Rs 2.5 lakh, it will not need to file ITR. However, if you have made high value transactions or want to claim refund, it may be necessary to file returns.

ITR filing mandatory in these cases

• If your income is higher than the basic exhalation limit.
• If you own a company or firm (including LLP), even if income is zero or loss.
• If you live in India and have foreign accounts, property, or income.
• If you have made high value transactions, such as large bank deposits or expensive travels.
• If your TDS is chopped and you want to claim refund.
• If you have damaged and want to set it off in the future.

Understand by example

Suppose a person’s salary is 8 lakh rupees and he has a LTCG of 1 lakh rupees. Its total income will be Rs 9 lakh, for which it is mandatory to file ITR. At the same time, if someone’s salary is Rs 20 lakh and even after deduction of Rs 7 lakh, the total income is Rs 13 lakh, then the return will have to be filed.