Income Tax Return: How to file, how much late penalty will be charged if there is delay, the complete ABCD of ITR..
Income Tax Return Filing 2025: The time to file the income tax return is coming to an end. The tax department has extended the time to file returns from 31 July 2025 to 15 September 2025. If you file ITR after this, you may have to pay a penalty, so give information about your tax due on time. Take care of e-verification in the return file, because this process is mandatory; without it, your ITR is not valid.
30 days' time is given
The Income Tax Department has given 30 days to the taxpayers for this e-verification. That is, if you have filed your return on August 1, then it is necessary to do its e-verification by August 30, otherwise your return file will be cancelled. In this news, we talk to you about small and big questions related to the income tax return.
What is Income Tax Return (ITR)?
You have to give information to the government about how much you are earning in a financial year and how much tax is being levied on this income. Income includes not only salary but also other sources, such as rent, profit made from the stock market, profit on property purchase and sale, interest income, etc. You can assume that whatever way you are getting money, it has to be mentioned in this form.
Who can fill out the ITR?
The next question is who can fill ITR... This question is big, because it comes to the mind of most taxpayers. Many people in India do not come under the tax bracket, so they think What is the need to file a return.. but doing so is against the rules. The rules say that a person earning Rs 2.5 lakh and above annually is required to give details of their income.
What are the benefits of filing ITR?
If you are filing ITR just because the government has asked you to or you will be fined, then it means that you have not yet understood the power of ITR. This ITR helps you in getting a loan to buy your dream house or car. Banks take information about the return file for the last 3 years. In such a situation, if you have not filed the return, then the matter may get stuck for some time. At the same time, if everything goes well, then you can easily get a loan to fulfill your dreams.
Which documents are necessary for filing a tax return?
PAN card
Certificate of tax saving scheme (if any)
16A/16B/16C form
Salary slip
Bank statement
TDS certificate
Interest certificate
26AS form
How many types of ITR are there?
ITR is also different for different organizations. At present, 7 ITRs are available for taxpayers from the tax department.
ITR-1 Form
This ITR is used by individuals who are earning a salary, pension, interest, or income from any property up to Rs 50 lakh in a financial year.
ITR-2 Form
Any individual and HUF whose income in a financial year is not from any profession or business can use this form.
ITR-3 Form
Any individual and HUF whose income in a financial year is directly from a profession or business can use this to file their return.
ITR 4 Form
Individuals who are earning a profit of Rs 50 lakh from their profession and Rs 2 crore from business can use this form.
ITR 5 Form
This form is used by partners and associations to give information about their income.
ITR 6 Form
Any registered company in India uses this form to give details of its income.
ITR 7 Form
ITR 7 form is used by universities, political parties, trusts, and research institutes to give information about their income.
What are the forms used in ITR e-filing?
Form 16
This form is for all salaried persons. It is issued by the employer. This form includes information about gross salary, deduction, and TDS.
Form 26AS
This is an annual tax statement, which includes information about TDS deducted on income, advance tax, and self-assessment.
Form 15G/15H
This form protects from TDS on interest received from the bank. Also, this form is for those persons whose income is not in the tax bracket. Form 15G is used by persons below 60 years of age, and Form 15H is used by senior citizens.
How to submit the ITR form online?
The Income Tax Department has now made the entire process online for the convenience of taxpayers. You can deposit your tax from the comfort of your home. For this, some important steps have to be followed.
First of all, you have to go to the Income Tax Department website https://www.incometax.gov.in/iec/foportal.
Log in after entering the user ID and captcha
Choose the assessment year and ITR form.
To avoid any mistakes, first read the guidelines.
After giving all your details, click on submit.
Get the given details verified through Aadhaar card or electronic code.
After verification, you will get a message on your mobile number and email regarding the filing of the return.
You can log in to the portal again and get information about your ITR status.
How much penalty is levied for not filing ITR?
The Income Tax Department imposes a penalty for not filing the ITR or filing it late. If your income is less than Rs 5 lakh, you may have to pay a penalty ranging from Rs 1,000 to Rs 10,000. However, if the income is more than Rs 5 lakh
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