Income Tax Return Filing for FY 2024–25 (AY 2025–26): Latest Updates & Deadlines

Filing your Income Tax Return (ITR) for Financial Year 2024–25 isn't just about compliance—it's about staying informed and making the most of recent regulatory changes. At JS Financial Services, we simplify the process for individuals, professionals, and business owners, ensuring error-free, optimised returns.

Extended Deadline Offers Relief

The Central Board of Direct Taxes (CBDT) has extended the deadline for filing ITR for non-audit taxpayers (including individuals, HUFs, AOPs, and BOIs) from 31st July 2025 to 15th September 2025. This extension was granted to accommodate the updated return formats and system revisions. For audit cases, the deadline remains 31st October 2025, and for those involving international or specified domestic transactions, the last date is 30th November 2025. Revised or belated returns can be filed up to 31st December 2025, and updated returns under ITR-U are permitted until 31st March 2030.

At JS Financial Services, we actively monitor such changes and help you take advantage of these timelines with complete accuracy and peace of mind.

Major ITR Form Changes You Must Know

For AY 2025–26, ITR forms have undergone key revisions. ITR-1 and ITR-4 now accommodate specific capital gains reporting (e.g., from listed equity shares and mutual funds). While this opens up usage to more taxpayers, it also demands more precision.

Additionally, Aadhaar enrolment IDs are no longer accepted—only the actual Aadhaar number can be used. Moreover, those born on or after 1st April 2007 are not eligible to file ITR-1, even if their income qualifies.

A common error taxpayers face is a mismatch in HRA exemption values. The salary details and Schedule 10(13A) must match exactly. Any discrepancy will likely result in return rejections or processing delays.

Understanding the Default Tax Regime

For FY 2024–25, the new tax regime remains the default. If you wish to claim exemptions and deductions under the old regime, you must opt out of the new one while filing. Many miss this important step, resulting in tax disadvantage.

Under the new regime, allowed deductions include:

• ₹75,000 standard deduction for salaried and pensioners
  
  
  
  
• Employer's NPS contribution
  
  
  
  
• Family pension deduction
  
  
  
  

Let JS Financial Services help assess which regime is more beneficial for your profile—based on your income, deductions, and future financial goals.

New Regime Income Tax Slabs

Here's what applies under the new regime:

• Income up to ₹3,00,000 – 0%
  
  
  
  
• ₹3,00,001 to ₹7,00,000 – 5%
  
  
  
  
• ₹7,00,001 to ₹10,00,000 – 10%
  
  
  
  
• ₹10,00,001 to ₹12,00,000 – 15%
  
  
  
  
• ₹12,00,001 to ₹15,00,000 – 20%
  
  
  
  
• Above ₹15,00,000 – 30%
  
  
  
  

No tax is payable on total income up to ₹7 lakh, thanks to the rebate under Section 87A.

Updated Returns (ITR-U): Fix Past Mistakes

Did you miss income or wrongly report figures in the past? You can still rectify it under ITR-U, now allowed up to 48 months post the assessment year. However, late updates attract additional tax (up to 70%), so act promptly. JS Financial Services can guide you through the updated return process with minimal financial impact.

Refunds, TDS & Portal Updates

The government has improved systems, but TDS mismatches or delays in Form 26AS or AIS updates can still cause trouble. Always reconcile your records before filing. A recent recommendation by the parliamentary panel even seeks TDS refund flexibility beyond deadlines for small, non-taxable taxpayers.

Final Checklist from JS Financial Services

• Choose the correct ITR form (based on income type and eligibility).
  
  
  
  
• Match Aadhaar, PAN, and bank details correctly.
  
  
  
  
• E-verify your return within 120 days of submission.
  
  
  
  
• Reconcile TDS and AIS data to avoid mismatch.
  
  
  
  
• Calculate your tax under both regimes before finalising.
  
  
  
  

Conclusion

This year's ITR filing season comes with more opportunities—and more risks for the unprepared. With rule changes, updated deadlines, and tighter compliance norms, expert guidance is no longer optional—it's essential. JS Financial Services ensures that your return is not just filed but filed right.

Whether you're salaried, self-employed, or managing a business, our team brings 15+ years of tax expertise across industries and geographies. Reach out today to plan your ITR smartly—because your success deserves more than a checkbox.