New Delhi, May 17: The Income Tax Department has notified all seven Income Tax Return (ITR) forms for Assessment Year (AY) 2025-26. Taxpayers are required to file their returns based on their income category and nature of business. While several deadlines have been set, the most crucial one is July 31, 2025, applicable to most individuals.

Experts are of the view that the government might not give an extension in the ITR filing deadline this year because in the past, whenever such a call was taken, it was due to technical glitches impacting the return filing process or on account of some extraordinary circumstances. ITR-1 and ITR-4 Released for AY 2025–26: Salaried Taxpayers Can Report Capital Gains Up to INR 1.25 Lakh in Simplified Forms, Check Other Key Changes.

Who Needs To File ITR by July 31?

The July 31 deadline is applicable to:

  • Individuals

  • Hindu Undivided Families (HUFs)

  • Associations of Persons (AOPs)

  • Bodies of Individuals (BOIs)

…provided their accounts are not subject to audit.

This deadline also applies to taxpayers availing concessional tax rates or exemptions, who must submit all required declarations and forms by this date. New Income Tax Slabs From April 1, 2025: Take a Look at Key Changes in New Tax Regime, Old Tax Regime for FY 2025–26.

The July 31 deadline does not apply to:

  • Businesses or professionals whose accounts require audit

  • Domestic companies

  • Partners of audited firms or their spouses (if section 5A applies)

  • Assessees required to furnish reports under section 92E (transfer pricing)

Upcoming ITR Filing Deadlines

  • July 31: Individuals, HUFs, AOPs, BOIs (non-audit cases)

  • October 31: Businesses, professionals requiring audit, and domestic companies

  • November 30: Taxpayers with international transactions requiring transfer pricing report (Section 92E)

  • December 31: Last date to file belated or revised returns

Which ITR Form Should You Use?

  • ITR-1 (Sahaj): For resident individuals with income up to Rs 50 lakh (salary, one house property, interest income, and agriculture income up to Rs 5,000)

  • ITR-4 (Sugam): For individuals, HUFs, and firms (non-LLPs) with income up to Rs 50 lakh from business or profession under presumptive taxation

  • ITR-2: For individuals and HUFs with capital gains income, but no business income

  • ITR-5: For firms, LLPs, and cooperative societies

  • ITR-6: For companies under Companies Act

  • ITR-7: For trusts and charitable institutions

Filing your ITR on time not only keeps you on the right side of the law but also ensures you get your refund, if any, without delay. So, check your due date, pick the right form, and file early to avoid the last-minute rush.

(The above story first appeared on LatestLY on May 17, 2025 03:05 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).