Income Tax Return (ITR) filing for Financial Year 2024-25 has officially started. The offline ITR filing process is now active, while the online mode is expected to begin soon. The last date to file ITR without penalty is 31 July 2025, and for offline forms without late fee, the deadline is 15 September 2025.
If you are a salaried employee, self-employed, a pensioner or earning income from rent, investments or abroad, it is important to understand the step-by-step ITR filing process. Filing ITR correctly and on time avoids penalties and other legal troubles. This article explains both online and offline ITR filing methods in simple steps and highlights the essential documents you need to collect now.
Who Must File ITR in FY 2024-25?
As per the New Tax Regime:
- Individuals earning more than Rs. 3 lakh annually must file ITR, even if no tax is due.
Under the Old Tax Regime:
- Below 60 years: Exemption up to Rs. 2.5 lakh (but the government gives relief on income up to Rs. 3.5 lakh after rebate).
- Senior Citizens (60-80 years): Tax relief on income up to Rs. 3.5 lakh.
- Super Senior Citizens (Above 80 years): Relief up to Rs. 5 lakh income.
Mandatory ITR Filing Also Applies If:
- Electricity bill exceeds Rs. 1 lakh, or
- Foreign travel expense exceeds Rs. 2 lakh, or
- Cash deposit in the current account exceeds Rs. 1 crore.
Offline ITR Filing Method: Step-by-Step Process
Taxpayers who prefer offline filing can now file ITR using Excel utilities. Here’s how:
- Download Utility:
Visit the Income Tax website – incometax.gov.in.
Go to “Downloads” → Select Assessment Year 2025-26 → Download Excel Utility for ITR-1. - Open the File:
Extract the ZIP file, open the Excel sheet and enable macros. - Fill Personal and Income Details:
Use Form 16, Form 26AS, AIS and your bank details to enter your personal info, salary, deductions and TDS. - Validate:
Use the “Validate” button in the utility to check errors. Fix all highlighted issues. - Generate JSON File:
After validation, click on “Generate JSON” and save the file. - Upload JSON on the Portal:
Log in to the Income Tax Portal → Go to “e-File” → Select “Income Tax Return” → Upload JSON File. - Verify Return:
Use Aadhaar OTP, Net Banking, DSC, or EVC to verify the return. Your return will be submitted after successful verification.
Online ITR Filing: A Simple and Preferred Way
Online filing is the most convenient option and is expected to start soon. Here’s how it will work:
- Login or Register:
Go to the income tax website and log in using your PAN. If you’re a new user, register using PAN, Aadhaar and mobile number. - Choose the Right ITR Form:
- ITR-1: For salaried individuals or pensioners with income up to Rs. 50 lakh.
- Other forms: Based on income sources like business, capital gains, or foreign income.
- Auto-filled Data:
The portal fetches pre-filled data from Form 26AS and AIS. Review all entries carefully and make corrections if needed. - Enter Remaining Information:
Check your salary details, exemptions, deductions, and interest income. Input missing details manually. - Upload Necessary Details:
No need to upload physical documents like Form 16, but keep them ready for verification. - Submit and Verify:
Submit the return and complete verification via Aadhaar OTP, net banking, EVC or DSC.
Must-Have Documents Before Filing ITR
You need the following documents to file your ITR smoothly:
- PAN and Aadhaar (must be linked)
- Form 16 from your employer
- Form 26AS (tax credit statement)
- AIS (Annual Information Statement)
- Bank statements
- Salary slips
- TDS certificates
- Investment proofs under Section 80C (LIC, PPF, ELSS, etc.)
- Rent receipts to claim HRA
- Loan interest certificates
- Foreign income or investments, if applicable
- Old ITR copies (for comparison or carry-forward)
Late Filing Penalty under Section 234F
If you miss the deadline of 31 July 2025, late filing fees will apply:
- Rs. 1,000 for income below Rs. 5 lakh
- Rs. 5,000 for income above Rs. 5 lakh
Also, late filing may lead to loss of interest refunds, carry-forward of losses, and increased tax scrutiny.
Budget 2024 Updates You Should Know
The Union Budget 2024 introduced some key changes:
- Capital Gains Tax changes led to updates in ITR forms.
- The government proposed a tax exemption of up to Rs. 12 lakh, but it will only apply from FY 2025-26 onwards.
So, this year’s ITR (for FY 2024-25) will not include this new exemption. - ITR forms for FY 2024-25 have already been notified.
- The department is yet to release the online filing utility. Employers have also yet to issue Form 16, but you can start collecting other documents.
Things to Do Before Filing ITR
- Choose between the New and Old Tax Regime:
Compare the tax outgo under both regimes and select the one that benefits you the most. - Find Your Applicable ITR Form:
Select the correct ITR form based on your income type – salary, business, capital gain, foreign assets, etc. - Start Collecting All Required Documents:
Don’t wait for the last date. Get your salary slips, bank details, investment proofs, and loan documents in one place. - Check Pre-filled Data on Portal:
Always cross-check data fetched from Form 26AS and AIS before final submission. - Seek Help If Needed:
If you are confused about the process or form selection, consult a tax expert or a CA.
Why Form 26AS and AIS Are So Important
Both these forms give complete financial data:
- Form 26AS: Shows all TDS deducted, tax payments, advance tax and refund details.
- AIS: Gives information on salary, dividend, stock transactions, mutual fund income, interest, rent and more.
These help avoid under-reporting income and ensure accurate return filing.
Source: Moneycontrol, Income Tax Department
