ITR filing 2025: First time taxpayers should note this crucial deadline

The Income Tax Return (ITR) filing season for Assessment Year 2025-26 is officially underway, and first-time filers should be particularly mindful of the deadlines to avoid unnecessary stress or penalties. With the deadline extended this year, taxpayers have more time to file, but early filing remains the best strategy. For most individual taxpayers who do not require an audit, the final deadline to file ITR for the financial year 2024-25 is now September 15, 2025. This marks a 45-day extension from the original July 31 deadline, giving taxpayers extra breathing room amid recent changes in filing requirements.

Why the extension?

The Central Board of Direct Taxes (CBDT) granted this extension due to significant updates in the ITR forms. These changes include additional disclosure requirements, such as enhanced reporting of long-term capital gains and revised formats to better capture income details. The tax department also needed more time to upgrade the online e-filing system to reflect accurate Tax Deducted at Source (TDS) credits and to accommodate the new forms seamlessly.

Tips for first-time filers

If this is your first time filing an income tax return, the process may seem overwhelming. However, with the user-friendly online portal, e-filing has become simpler and faster than ever. Here’s what you need to do:

Collect essential documents: Keep your PAN, Aadhaar, Form 16 (if salaried), Form 26AS, investment proofs (especially if claiming deductions under sections like 80C and 80D), bank details, and rent receipts for HRA handy.

Register on the income tax e-filing portal: Create your account at the official website and familiarize yourself with its features.

Choose the correct ITR form: Most individual taxpayers can use ITR-1 (Sahaj) if eligible. Selecting the wrong form can delay processing or even attract penalties.

File and e-verify your return: Submit your return online and complete the verification process within the stipulated time.

To help first-time filers, the Income Tax Department has released a detailed video guide on its official social media channels. The video walks you through the entire filing process, encouraging taxpayers to start early and avoid last-minute rushes.

Avoid common pitfalls

Make sure your personal details match across all documents to prevent errors or mismatches. Double-check your Form 26AS to ensure all your TDS credits are properly reflected. Filing accurately not only helps avoid notices and penalties but also builds a solid foundation for your financial discipline.

By taking these steps, first-time taxpayers can file confidently, ensure compliance, and avoid any unnecessary hassles. Remember, early filing is always better—it means peace of mind and a smoother tax season ahead.

Old vs New Tax Regime

Key Tax Benefits and Deductions: Old vs New Regime
Rebate Eligibility (Section 87A): ₹5 lakh income threshold in the old regime; ₹7 lakh in the new regime.

Standard Deduction Limit: ₹50,000 under the old regime; ₹75,000 under the new regime.

Rebate Amount (Section 87A): ₹12,500 allowed in the old regime; ₹25,000 in the new regime.

Available Deductions and Exemptions
Standard Deduction (Section 16(ia)): Allowed in both regimes.

Leave Travel Concession (Section 10(5)): Only in the old regime.

House Rent Allowance (Section 10(13A)): Available only in the old regime.

Official and Personal Allowances (Section 10(14)): Applicable only in the old regime.

Entertainment Allowance (Section 16(ii)): Available only under the old regime.

Professional Tax (Section 16(iii)): Allowed only in the old regime.

Interest on Housing Loan for Self-Occupied Property (Section 24(b)): Available only in the old regime.

Deductions under Sections 80C to 80U (except 80CCD(2) and 80CCH(2)): Only in the old regime.

Set-off of Loss from House Property: Allowed only in the old regime.

Other Allowance/Perquisite Exemptions as per prevailing laws: Applicable only in the old regime.