ITR Filing 2025: The Income Tax Department has not yet released ITR filing utilities. Apart from this, Form 16 has also not been issued to the employed people by the employers (companies). Despite this, taxpayers should start collecting documents from now to file returns.
ITR Filing 2025: The Income Tax Department issued ITR forms earlier this month. Some changes have been made in these forms. The government had changed the rules of capital gains tax in the Union Budget 2024. Accordingly, it became necessary to change the ITR forms. Apart from this, some changes have also been made in the forms. However, the Income Tax Department has not yet released ITR filing utilities. Apart from this, Form 16 has also not been issued to the employed people by the employers (companies). Despite this, taxpayers should start collecting documents from now to file returns.
Last date for filing income tax return is 31st July
Tax experts say that the last date for filing income tax return is usually 31st July. But, taxpayers should not wait for the last date to file the return. They should start preparing for it from now itself. First of all, they should decide which of the new and old income tax regimes is more beneficial for them. Secondly, they should also know which ITR form they will have to use. If the taxpayer is not able to understand this, then he can take the help of a tax expert. Actually, different ITR forms are used according to the source of income.
After selecting the income tax regime and form, you should start collecting documents. These documents are as follows:
- Bank account statements
- Bank TDS certificate
- Aadhaar and PAN (both should be interlinked)
- Form 26S
- Annual Information Statement (AIS)
- Form 16 (issued by the employer)
- Returns filed in previous years
- Salary slip (including foreign income)
- Rent agreement (for claiming HRA)
- Foreign bank account statement (if there is income abroad)
- Transaction statement of investments made abroad
- Proof for tax deduction
Proof of tax-savings will also have to be given
Tax experts say that in this year’s Union Budget, the government announced to make income up to Rs 12 lakh annually tax free. But, it is important to keep in mind that this rule has come into effect from this financial year. Therefore, its benefit will be available in filing returns in the next financial year. The returns that taxpayers will file before July 31 are for the income earned in the financial year 2024-25. Therefore, if you are using the old regime of income tax, then you will also have to present proof of tax-saving investments.
Form 26AS and AIS are also necessary
Before filing income tax return, it is necessary to download Form 26S and AIS. You can download both these documents from the Income Tax website. Form 26AS will contain information about your income, TDS and TCS, while AAIS will contain information about your every financial transaction. This will make it easier for you to tell about all your income while filing the return. For example, many people have income from dividends. But, they do not remember to tell about it in the income tax return.
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