ITR filing 2025: The filing of Income Tax Returns (ITR) for the assessment year 2025-26 is set to commence on 1 April 2025. The Income Tax Department offers taxpayers the convenience of both online and offline filing options, with the online method being notably quicker and more straightforward. Filing ITRs is a critical responsibility for individuals and businesses in India, ensuring compliance with tax obligations and avoiding potential penalties for late submission.
In the Budget 2024, notable adjustments were made to the tax brackets in the New Tax Regime for the financial year 2024-25 (Assessment Year 2025-26). Taxpayers can now take advantage of updated tax brackets, as well as an expanded standard deduction and an increased family pension deduction.
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Income tax slabs for FY 2024-25 under the new regime
Annual Income Tax Slabs
Income Tax Rates
Up to Rs 3 lakh: NIL
Rs 3-7 lakh: 5%
Rs 7-10 lakh: 10%
Rs 10-12 lakh: 15%
Rs 12-15 lakh: 20%
Above Rs 15 lakh: 30%
Tax Benefits in the New Regime
Rebate: A tax rebate of up to Rs 25,000 is applicable for total income not exceeding Rs 7 lakh (excluding NRIs), resulting in no tax for income up to Rs 7,00,000.
Standard Deduction: Salaried employees can avail a standard deduction of Rs 75,000 under the new regime.
Deduction under Family Pension: The deduction for family pension received has been increased to Rs 25,000 from Rs 15,000.
NPS Contribution: The deduction limit for employer's contribution to NPS is 14% for FY 2024-25.
Tax Savings: Due to the above changes, a salaried employee can save up to Rs 17,500 in taxes in the new tax regime.
Under the new regime, the default tax regime, individuals can choose to opt for the old regime by filing Form 10-IEA. The highest surcharge rate is 25% in the new regime, compared to 37% in the old regime.
Old Tax Regime in AY 2025-26
There were no changes made to the tax slabs under the old regime in the budget 2024. The tax slabs under the old regime are as follows:
Income tax slabs for individuals aged below 60 years & HUF
| Income Slabs | Age | Age of 60 Years to 80 years (RIs) | Age above 80 Years (RI) |
| Up to Rs 2.5 lakh | NIL | NIL | NIL |
| Rs 2.5L- Rs 3L | 5% | NIL | NIL |
| Rs 3L - Rs 5L | 5% | 5% | NIL |
| Rs 5L - Rs 10L | 20% | 20% | 20% |
| Rs 10L and above | 30% | 30% | 30% |
ITR forms
Different ITR forms are available, tailored to the taxpayer’s category, income level, and sources of earnings. For resident individuals with a total income of up to Rs 50 lakh, the ITR-1, known as Sahaj, is applicable. However, this does not cover those with capital gains, business income, or foreign assets. ITR-2 suits individuals and Hindu Undivided Families (HUFs) who earn from salary, multiple house properties, capital gains, foreign assets, or agricultural income exceeding Rs 5,000.
Further, ITR-3 is designed for individuals and HUFs with income from a proprietary business or profession, fitting for professionals such as doctors and lawyers. The ITR-4 form, also called Sugam, applies to individuals, HUFs, and firms opting for presumptive taxation, with a total income not exceeding Rs 50 lakh, excluding those with foreign assets. This spectrum of forms ensures that every taxpayer can file accurately based on their specific financial circumstances.
Businesses and other entities have distinct filing requirements. Partnership firms, LLPs, associations of persons, and other bodies excluding companies are to use ITR-5. Companies that do not claim tax exemptions under Section 11 must file ITR-6 electronically with digital signatures. These forms cater to various organisational structures, ensuring comprehensive coverage for all types of income-generating entities.
Tax filing due dates
The due dates for filing ITRs for AY 2025-26 depend on the nature of the taxpayer. The deadline for individuals and entities not requiring an audit is 31 July 2025. Businesses requiring an audit must file by 15 October 2025, while those requiring transfer pricing reports have until 30 November 2025. Meeting these deadlines is crucial to avoid penalties and ensure compliance with Indian tax regulations.
Filing ITRs online has been simplified with the Income Tax e-filing portal. Taxpayers must first ‘Login’ using their PAN/Aadhaar and password, then select ‘File Income Tax Return’ under ‘e-File’ and ‘Income Tax Returns’. After selecting the appropriate assessment year and ITR form, details such as income, tax deductions, and exemptions must be entered. The portal auto-fills some information based on Form 26AS and AIS, streamlining the process further.