ITR Filing 2025 Date Near: Avoid These Mistakes While Filing Income Tax Returns for Financial Year 2024-25

The date of filing the income tax return is near; soon, individuals and taxpayers will begin submitting their income tax return for the financial year 2024-25 or assessment year 2025-26. The last date to submit the income tax return is July 31, 2025, hence, it is the right time to amalgamate all your financial transactions during the financial year.

The provisions of Section 115BAC have been amended by Finance Act 2024, with effect from assessment year 2024-25 in order to make new tax regime the default tax regime. However, new taxpayers still have the option to choose a new tax regime and be taxed as per the old tax regime.

Income Tax Return (ITR) Filing 2025 Date

The deadline to file the income tax return for the financial year 2024-25 or the assessment year 2024-25 is July 31, 2025. As per us all submitting ITR, it is a process that requires time, especially for those doing this for the first time and also for those having several income sources. Hence, it is necessary to keep general mistakes in mind while filing income tax return.

To make the process of filing the income tax return smoother and simpler, individuals should keep track of some common steps. These steps help solve basic mistakes as follows:

Incorrect Tax Calculation:

• This is a common mistake made by a maximum number of taxpayers while filing the income tax return. There are a total of two types of income tax systems: old and new tax regimes. It is essential for taxpayers to discover which option suits them the most. Both the tax regimes offer distinct types of advantages to the taxpayers.

Incorrect Tax Deductions:

• Under the income tax act, distinct taxpayers are eligible for distinct pairs of exemptions; hence, it is essential to keep a record of deductions that can be claimed while filing an income tax return. These consist of Sections 80C and 80D, among others.

Incorrect Personal Information:

• While filing an income tax return, it is compulsory to cross-check your personal details, such as name, PAN, address, bank account and others. This is an imporant step that should be taken if you don’t want to face any deductions.

Missing Income Sources:

• Don’t forget to mention all the ways you earned money during the year, especially if you earned from more than one source.

Form 26AS:

• This document is available on the income tax website. It shows a combined record of the tax that was deducted, a tax that was collected, and any advance tax you paid. Checking it helps make sure your income and taxes match the official records.