Overview

• CBDT moved the non-audit ITR deadline from July 31 to September 15, 2025, citing comprehensive form overhauls and staggered e-filing rollout delays
• ITR-1 through ITR-4 e-filing tools are live and ITR-2 now offers portal pre-filled data, while ITR-3 utilities remain under development
• Businesses and professionals requiring audit must submit returns by October 31 with audit reports due September 30, and international transaction filers under Section 92E face a November 30 deadline after October 31 audits
• Belated and revised returns are accepted until December 31, 2025, though late filings incur 1% monthly interest, penalties up to ₹5,000 and forfeit loss-carry-forward benefits
• FY 2024-25 brings new slab rates, a ₹75,000 standard deduction under the new regime and capital gains rules taxing LTCG at 12.5% and STCG at 20% for assets sold on or after the July 23, 2024 cut-off