ITR Refund 2025: For the taxpayers who have not yet filed their Income Tax Return (ITR), today is the last day i.e. September 15. The deadline to file an ITR of Financial Year 2024-25 (Assessment Year 2025-26) will end tonight. This time, about 1 crore returns are expected to be filed on the last day i.e. 15 September. Last year, the e-filing portal processed a record 70 million returns in 24 hours, the highest ever. But this time there is a lot of pressure on the portal and many taxpayers and chartered accountants (CAS) have complained of the portal slowing down.
How many people have filed ITR?
According to official data, 6.29 crore returns had been filed by 13 September. Comparison, a total of 7.28 crore ITRs were filed last year. This time if an average growth of 7.5% is considered, the figure can reach 7.8 crores.
The trend of the past years also suggests that tax compliance is increasing continuously:
Ay 2024–25: 7.28 crore returns
Ay 2023–24: 6.77 crore returns
Ay 2022–23: 5.82 crore returns
Ay 2021–22: 5.77 crore returns
That is, there has been a 25% increase in the last three years.
What are ITR forms?
Many people still confuse what form they should fill. Understand in simple words:
ITR-1 (Sahaj): Whose income is up to Rs 50 lakh.
ITR-2: Those people who do not have business income and do not cover ITR-1.
ITR-3: For Business or Professional Income.
ITR-4: Small business, HUFS and firms (except LLPS) whose income is up to 50 lakhs.
ITR-V: Acknowledgement only to file ITR.
Way to file ITR
CBDT has given several options to file ITR.
Offline filing on paper
Online filing with digital signature
Online submission with e-verification code
Online filing + ITR-V sending
ITR is an e-filing portal. Inometax.gov.in
Essential documents
No document has to be attached while filing ITR. But you should have these details.
Bank account information.
Form 16 (for salary people)
Capital Gain Statements.
Investment proofs
Rent receipt and home loan details.
If the deadline is missed?
Even if you are unable to file ITR today, you can still file a billet return by 31 December 2025. But a penalty will have to be given for this.
1,000 rupees: If your income is less than Rs 5 lakh.
5,000 rupees: If the income is more than Rs 5 lakh and filed after the deadline.
Also, if ITR is not filled in time, there will be no benefit of some tax deduction. In many cases, there can also be a sentence of 3 months to 2 years. If tax evasion is more than 25 lakhs then the punishment can increase by 7 years.
Refund and advantage
If you have paid excess tax, then the refund will come directly through ECS to the bank account. Timely filing returns keeps your financial record clean and also helps in things like bank loan or visa.
Why is it necessary today?
Deadline will not be increased.
Can avoid penalty.
Refund will be found soon.
Future tax exemption and records will be clear.
You may have to be heavy to sign the back of the check! Account can be empty, know RBI rules