10 Things to Remember Before Filing Your Income Tax Return (ITR) for FY 2024–25.
Filing your Income Tax Return (ITR) can feel overwhelming—especially with changing tax rules every year. For FY 2024–25 (AY 2025–26), there are important updates and choices that every salaried individual, freelancer, or small business owner must understand.
In this blog, we’ll walk you through the 10 key things to remember before filing your ITR, including choosing between the old and new tax regimes, common mistakes to avoid, documents checklist, and more.
Know Your ITR Due Date
1. Standard deadline: July 31, 2025 (unless extended by CBDT).
2. For audit cases: October 31, 2025.
Avoid last-minute rush and penalty under section 234F.
Choose Between Old and New Tax Regime (MOST IMPORTANT)
What’s the difference?
Category
Old Tax Regime
New Tax Regime (Default from FY 2023–24)
Tax Rates
Higher
Lower
Deductions allowed
Yes (e.g., 80C, 80D, HRA, etc.)
No major deductions
Suitable for allowed
Those with investments
Those without many deductions
Example:
If you're earning ₹10,00,000 annually:
1. Under Old Regime (with ₹1.5L investment in 80C + ₹25K in 80D): You save tax.
2. Under New Regime (no deductions claimed): You may pay less only if you don’t invest much.
Pro Tip:
Use the Income Tax Calculator on the official portal or consult us to choose the better regime.
Link PAN with Aadhaar
Before filing, match your income and TDS details with:
1. Last date: June 30, 2025 (as per current guidelines).
Match with your actual income. Discrepancy = red flag!
Don’t Miss Out on Deductions (Only If You Choose Old Regime)
1. Section 80C: LIC, PPF, ELSS, etc. (Limit ₹1.5L)
2. Section 80D: Health insurance (₹25K–₹1L)
3. Section 80D: Health insurance (₹25K–₹1L)
4. Section 24(b): Home loan interest
5. NPS, Education Loan, and others
If you're under the new regime, most of these deductions won’t apply!
Know Which ITR Form to Use
Income Type
Form to Use
Salary/pension, one house
ITR-1
Salary + capital gains
ITR-2
Business/profession income
ITR-3
Presumptive taxation (44ADA/44AD)
ITR-4
Wrong form = Defective return!
Pre-fill and Cross-Check Carefully
1. The Income Tax portal offers pre-filled data.
2. But always verify: salary, TDS, interest income, deductions, etc.
Never rely 100% on pre-filled data.
Verify Your Return After Filing
After filing, e-verify using:
1. Aadhaar OTP
2. Net banking
3. Bank ATM
4. Digital Signature (for business)
Must be done within 30 days of filing, or return becomes invalid.
File Early and Avoid Penalties
1. Late filing fee: ₹1,000 to ₹5,000 (Section 234F)
2. Interest on taxes due: 1% per month (Section 234A)
3. Delayed refund & limited correction time
Filing early = faster refund + peace of mind!
Bonus: Common ITR Mistakes to Avoid
1. Not declaring all income
2. Selecting wrong assessment year
3. Using incorrect ITR form
4. Missing to e-verify
5. Claiming ineligible deductions
10 Most Frequently Asked Questions (FAQs)
No, unless you want to claim a refund or have high-value transactions.
Depends on your investments. Use a calculator or talk to an expert.
Yes, salaried individuals can change annually. Business owners have restrictions.
Yes, before Dec 31, 2025, for FY 2024–25.
Yes, even if gains are tax-free or losses occurred.
Yes, through a belated return, but with a penalty.
A tax credit statement showing all TDS/TCS, advance tax, etc.
Yes, but expert help is recommended for accuracy and savings.
Yes, if they earn income in India.
Usually within 7–45 days if verified and processed.
Conclusion: File Smart, Save Time & Money
Filing your ITR for FY 2024–25 is not just about avoiding penalties—it’s an opportunity to optimize your taxes, claim rightful refunds, and stay financially healthy.
If you're confused about deductions, tax regimes, or just want a hassle-free experience...
Contact us for custom ITR filing support.
We make ITR filing simple, accurate, and stress-free!
