Filing an ITR is mandatory for all taxpayers who come under the income tax net. With the start of new assessment year 2025-26, salaried and other taxpayers can now file their tax returns for the financial year just gone by. Like previous years, the ITR filing deadline is likely to be 31st July this year. However, taxpayers whose accounts need audit will have time till 31st October, 2025. But one must remember that these deadlines can be extended if need arises under exceptional occurrences.

Who should file ITR?

The filing of income tax return (ITR) is compulsory for those individuals whose annual income is above the basic exemption limit. According to the Old Tax Regime, the basic exemption limit is still Rs 2.5 lakh for general taxpayers under 60 years of age. For senior citizens, this limit is Rs 3 lakh. Under the New Tax Regime, the exemption limit is Rs 4 lakh and income above this will be taxed as per the slabs.

However, in certain cases filing an ITR online becomes mandatory for individuals provided they have either some special incomes. Those with savings account deposits of more than Rs 50 lakh and bank deposits exceeding Rs 1 crore are required to file their ITR even if their taxable annual income is within the basic exemption limit.

Here are changed tax slabs under the New Tax Regime

The new income tax slabs have been announced under the Union Budget 2025, effective from FY 2025-26.

Income up to Rs 4,00,000 — Nil

Rs 400,001 to Rs 800,000 — 5%

Rs 800,001 to Rs 12,00,000 — 10%

Rs 12,00,001 to Rs 16,00,000 — 15%

Rs 16,00,001 to Rs 20,00,000 — 20%

Rs 20,00,001 to Rs 24,00,000 — 25%

Above Rs 24,00,000 – 30%

Note: No changes were announced in the last budget in tax slabs for Old Tax Regime.

Following are five must-do things for all the taxpayers before filing ITR online:

Collect all income documents

To file ITR online, taxpayers must collect all necessary documents, including PAN, Aadhaar, Form 16, salary slips, interest certificates, capital gains statements, rental income details, and any other proof of income.

Understand and select correct ITR form

As a next step, it is important to select a correct ITR form based on the resident status and source of income. Choosing and filing a wrong form can lead to rejection and probably a notice from the I-T Department. This year, the government has introduced some changes in ITR-2. Before filing their tax returns, taxpayers are advised to read and understand the latest updates to ensure compliance.

Link PAN with Aadhaar & ensure details match

Make sure your PAN is linked with Aadhaar and all personal details like name, DOB, and gender are consistent across documents to avoid any verification issues.

Check for exemptions and deductions

Before you start filing your ITR, you should be aware of all the deductions and exemptions that you are entitled to. For example, beside the basic exemption limit, there are Standard Deduction and rebates available. The Standard Deduction is increased to Rs 50,000 to Rs 75,000 under the New Tax Regime for salaried individuals.

Enhanced I-T scrutiny through past ITR comparisons

The Finance Bill 2025 has empowered the Income Tax Department to scrutinize current year returns with those from past years to find any discrepancies. This enhanced scrutiny is aimed at promoting better compliance and reducing tax evasion.

How to file ITR online?

If you want to file your ITR online, you should follow the basic steps:

Step 1: Visit the official e-filing website of the income tax department.

Step 2: Register or Log in to the website.

Step 3: Enter the required credentials.

Step 4: Select mode of filling and status.

Step 5: Select the right ITR form

Step 5: Read the instructions carefully and fill all the applicable and mandatory fields of the Online ITR form. 

Step 6: After confirmation of all tabs, click on “Proceed.”

Step 7: Proceed to validation

Step 8: Submit the ITR.