ITR Filing 2025: Key Deadlines and Rules for Every Taxpayer- salaried, companies, businessmen, or NRIs

The Central Board of Direct Taxes has initiated the process for income tax return filing for the financial year 2024–25, which corresponds to the assessment year 2025–26. Most of the income tax return forms have been released, including Sahaj, Sugam, ITR-2, ITR-7, and ITR-U. The final date for submission depends on the taxpayer category.

Taxpayers who are not subject to audit must file their income tax return by Thursday, July 31,  2025. If this deadline is missed, a belated return can be filed by December 31, 2025, subject to penalties.

Updated Forms and Filing Process

This year, there was a delay in notifying all income tax return filers due to revisions aligned with changes in the previous budget. Although forms are now available, the e-filing utilities on the tax department portal are expected to be updated soon. These tools will assist taxpayers in accurately submitting their returns online.

Form 16 Delay and Alternative Filing Methods

For salaried individuals, delays in tax deducted at source may impact the issuance of Form 16. Employers generally issue Form 16 within 15 days after tax deducted at source reflects in Form 26AS. Many employees may receive this only after June 15, 2025. However, it is important to note that Form 16 is not mandatory to file a return. One can file using details available in Form 26AS and other documents such as salary slips and bank statements.

Who Must File an ITR in India?

Filing an income tax return is compulsory for several categories of taxpayers. Below are the major groups required to submit returns:

Individuals

Any individual whose gross total income exceeds the basic exemption threshold must file a return. This includes:

• ₹2.5 lakh for individuals below 60
   
• ₹3 lakh for senior citizens
   
• ₹5 lakh for super senior citizens

Filing is also required if:

• A refund is to be claimed
   
• Capital or business losses are to be carried forward
   
• More than ₹1 crore was deposited in a current account
   
• Foreign assets or income exist
   
• Electricity expenses exceeded ₹1 lakh or foreign travel exceeded ₹2 lakh

Read More: ITR Filing 2025: Key Changes You Should Know About Capital Gains and Disclosures. 

Hindu Undivided Families, Association of Persons, and Body of Individuals

These groups must file returns if their income exceeds the exemption limit or includes any taxable income.

Businesses and Professionals

Returns are mandatory for those engaged in business or professional activities, especially if opting for presumptive taxation under sections 44AD, 44ADA, or 44AE.

Companies

All companies, whether private, public, or limited liability partnerships, are required to file income tax returns irrespective of their profit or loss status.

Taxpayers Requiring Audit or Transfer Pricing Reports

Entities that fall under audit requirements under section 44AB, or those with international or specified domestic transactions that require transfer pricing reports under section 92E, must file as per their due dates

ITR Filing Deadlines for FY 2024–25 (AY 2025–26)

Missing the original deadline could attract late filing fees under Section 234F (up to ₹5,000), along with interest under Sections 234A, 234B, or 234C.

Conclusion

With the release of income tax return forms and updated deadlines, taxpayers must stay informed to meet their filing responsibilities for FY 2024–25. While delays in some processes may affect timelines for salaried individuals, alternatives exist for smooth compliance. Filing within the prescribed timeline ensures legal compliance and helps avoid penalties.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks. Read all the related documents carefully before investing.