ITR Filing 2025: An important update has come out for those who are paying income tax. Let us tell you that the Income Tax Department has now notified all the forms for filing returns for taxpayers. If you do not know about this yet, then read this article till the end so that we can tell you about the process of submission by the end of July and for individuals and private people who have not got their accounts audited, we will also provide you detailed information about the last date which is 31 July. Along with the audit, domestic companies along with businesses and professionals will have time till October 31 to file their returns for the recently ended financial year. Before this you have to file the return.
These taxpayers have to file income tax returns by July 31
The Income Tax Department has recently notified details according to which those who have not filed their tax returns by July 31 will have to pay tax at a concessional rate or avail various exemptions. This date has been announced and this date is important for all taxpayers. The deadline is not applicable for corporate taxpayers as well as for individuals whose accounts books are required to be audited.
The audit of the accounts of the taxpayers is mandatory and does not apply to the spouse of such a partner if the provisions of Section 5A are applicable. Therefore, it is very important to keep in mind that they will also be exempted from the deadline of July 31, this information has also come to light.
Is it necessary to fill this ITR form?
Getting information about the form is also very important. As per the information we have, we will tell you about the form. ITR Form 1 (Sahaj) and ITR Form 4 (Sugam) are simple forms that meet the needs of a large number of small and medium taxpayers. Apart from this, Sahaj can be filled by a resident person whose annual income is up to Rs 50 lakh and who earns up to ₹ 5000 per year from salary, property of a house or income. You can get the rest of the information from your advisor.