ITR Filing 2025: Take a Look at These Tax Changes Before Offline ITR Submission

Individuals whose annual taxable income is more than the basic exemption limit are required to file an ITR. It is a key responsibility for every taxpayer. In the current financial year, 2025-26, ITR filing is likely to continue till July 31, 2025. The deadline may be October 31 for those whose audit is required.

Here are some tax changes introduced by the government (since the last ITR filing season) that you should keep in mind

Income Tax Slabs Under the New Regime are Changed

The Union Budget 2025 introduced new income tax slabs under the new tax regime. The changes came into effect on April 1, 2025. Here are the revised slabs:

Income up to Rs 4,00,000 – Nil

Rs 4,00,001 to Rs 8,00,000 – 5%

Rs 8,00,001 to Rs 12,00,000 – 10%

Rs 12,00,001 to Rs 16,00,000 – 15%

Rs 16,00,001 to Rs 20,00,000 – 20%

Rs 20,00,001 to Rs 24,00,000 – 25%

Above Rs 24,00,000 – 30%

The old tax regime remains the same.

2. Standard Deduction has increased under the new regime

To give extra relief to the taxpayers, the standard deductions have been increased for the salaried employees under the new regime. The standard deduction is hiked from Rs. 50,000 to Rs. 75,000.

3. Basic exemption limit is hiked

The basic exemption limit is increased from Rs. 3 lakh to 4 lakh. This will offer extra tax relief to all individual taxpayers.

4. The new regime is the default, but the choice remains

The new tax regime continues to be the default option for taxpayers. However, individuals can still opt for the old tax regime if it proves to be more beneficial for them, depending on the deductions and exemptions they are eligible to claim.

5. Revised ITR Forms and filing utilities

The Income Tax Department has introduced an enhanced Excel-based utility for ITR-2 to make the filing process smoother. Taxpayers filing through ITR-2 should ensure they download and use the most recent versions of the ITR forms to prevent any errors during submission.

6. Increased IT inspection by Past ITR comparison

The Finance Bill 2025 has authorized the Income Tax Department to cross-check current ITR filings against previous years’ returns to identify discrepancies. This measure is intended to improve compliance and prevent tax evasion.