Over 17 million taxpayers file ITRs ahead of July 31 deadline: I-T deptt
Over 17 million I-T returns have been filed for 2025-26 financial year so far, the Income Tax Department said on Saturday.
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Over 17 million I-T returns have been filed for 2025-26 financial year so far, the Income Tax Department said on Saturday.
From AY 2026-27, the option to report ‘Other Exempt Income’ was removed. Now it is being restored.
Since there are 7 ITR forms available for tax return filing, the biggest confusion for most assessses is which form they should choose. Adding to their confusion, the government last year tweaked the capital gains rules, which required certain changes to be made in ITR forms. In this write-up, let’s understand which ITR form you need to file if you have capital gains from various financial assets, including cryptocurrencies.
CBTD on Tuesday said it has extended the deadline for filing of Income Tax Returns (ITRs) to September 15, for the assessment year 2025-26. Earlier, the due date was July 31, 2025.
In view of the extensive changes introduced in the notified Income Tax Returns (ITRs) and considering the time required for system readiness and rollout of ITR utilities for Assessment Year (AY) 2025-26, the Central Board of Direct Taxes (CBDT) has decided to extend the due date for filing returns.
If you are preparing to file Income Tax Return (ITR), then this news is important for you. So far, the Income Tax Department has not made ready ITR e-filing utilities on its portal for Assessment Year 2025-26 (FY 2024-25).
The Income Tax Department has notified the income tax return forms for FY 2024-25 (AY 2025-26), incorporating the changes in tax laws announced in the July 2024 budget. However, taxpayers will have to wait for the release of the ITR filing e-utilities on the income tax portal to file their ITR.
The Income Tax department set a new record last month with more than 9.19 crore people filing their returns for FY25 by the end of March.
Will you be eligible for a refund even if you file your ITR (income tax return) late? This concern was raised by many people due to the introduction of new Income Tax Bill 2025 in the Lok Sabha. Many experts have pointed out that the new income tax bill, which is likely to be applicable starting FY2026-27, highlights that if taxpayer does not file their income tax returns before the due date, they will not be eligible to get a refund. Experts are pointing out the same on various social media platforms.
The new Income Tax Return (ITR) filing portal 2.0 which was launched on June 7, 2021, is a simpler and user friendly than ITR portal 1.0 but like any new technology, this 2.0 portal is also experiencing many glitches. Moreover, chartered accountants say that there are certain problems in logical reasoning of the ITR portal. Sometimes a tax notice intimation is sent through email and SMS, but the said notice couldn’t be found on the ITR portal. Multiple such small issues collectively form a bigger grievance against the ITR portal.