The Central Board of Direct Taxes (CBDT) has made some important changes in the Income Tax Return (ITR) filing rules for the assessment year 2025-26. These changes will affect many taxpayers, including salaried people, professionals, businessmen, and senior citizens. If you file ITR every year, then it is very important for you to understand these new rules.
Central Board of Direct Taxes What is ITR Filing?
Income Tax Return (ITR) is a form that every earning person or business files with the Income Tax Department of India. It shows your income, savings, deductions, and the tax you paid in the previous year. Based on your income and documents, you may either get a refund or have to pay more tax.
Major Changes in ITR Filing for 2025
Here are the new updates and rule changes by CBDT for the financial year 2024-25 (assessment year 2025-26):
1. Changes in ITR Forms
CBDT has made changes in the ITR-1 and ITR-2 forms. Now these forms are more simplified and user-friendly. The forms now include auto-filled data from AIS (Annual Information Statement) and TIS (Taxpayer Information Summary).
2. New Tax Regime is Now the Default
Central Board of Direct Taxes From now onwards, the New Tax Regime will be the default tax structure. If you want to choose the old regime (with deductions like 80C, HRA), you must opt-out manually while filing the ITR.
3. More Details Required for Capital Gains
If you earn money by selling shares, mutual funds, or property, you now have to provide complete details like acquisition date, cost, improvement cost, and selling price. This will help in better tax calculation of capital gains.
4. Higher Penalty for Late Filing
Earlier, if you filed ITR late, the maximum penalty was ₹5,000. But from this year, if your income is more than ₹5 lakh, and you file after 31st July, the penalty can go up to ₹10,000.
5. More Strictness on Foreign Assets
People who have income or assets outside India must now give full disclosure. Even if you missed it earlier, you must correct it in the ITR. Not reporting foreign assets may lead to legal action.
6. Senior Citizens Exemption
Senior citizens (above 75 years) who have only pension and interest income do not need to file ITR if Form 12BBA is submitted to the bank. This exemption is continued in 2025.
7. Pre-filled ITR Forms
Central Board of Direct Taxes This year, CBDT has added more data to pre-filled ITR forms like bank interest, dividend income, capital gains, etc., to make the process easier and faster.
8. E-verification Time Reduced
Earlier, you had 120 days to e-verify the ITR after filing. Now it is reduced to 30 days only. If you fail to verify, your ITR will be treated as invalid.
Important Dates to Remember
| Event | Date |
|---|---|
| ITR Filing Start Date | April 1, 2025 |
| Last Date for ITR Filing (No Audit) | July 31, 2025 |
| Last Date for ITR Filing (Audit) | October 31, 2025 |
| Revised Return Last Date | December 31, 2025 |
| Belated Return Last Date | December 31, 2025 |
Who Should File ITR in 2025?
You should file ITR if:
Benefits of Filing ITR
- Easy loan approvals
- Quick visa processing
- Claim TDS refunds
- Avoid penalties and notices
- Keep a legal record of income
How to File ITR in 2025 (Simple Steps)
- Visit https://www.incometax.gov.in
- Register/Login to your account
- Choose the right ITR Form (ITR-1, 2, 3, etc.)
- Fill your income details (some data is auto-filled)
- Choose the correct tax regime
- Upload documents if required
- Submit the form
- E-verify within 30 days (via Aadhaar OTP, net banking, etc.)
Attention Please!
- If you miss the July 31, 2025 deadline, you may face heavy penalties
- Always check your Form 26AS and AIS before filing
- If you choose the old regime, make sure to claim all your deductions
- Keep your bank passbooks, investment proofs, and salary slips ready
Conclusion
The CBDT has made ITR filing easier and more transparent, but also stricter for defaulters. With updated forms, shorter e-verification time, and stricter rules on capital gains and foreign income, taxpayers must stay alert and file on time.
Start preparing early and take help from a CA or use the official tax portal to avoid mistakes. Filing your ITR not only saves you from penalties but also helps in maintaining a clean financial record.
