ITR Filing Checklist for Assessment Year (AY) 2025–26
ITR Filing Checklist for Assessment Year (AY) 2025–26, tailored for both individual taxpayers and business owners in India. This guide incorporates the latest updates and deadlines to ensure a smooth and compliant filing process.
Revised ITR Filing Deadline: The Central Board of Direct Taxes (CBDT) has extended the deadline for filing Income Tax Returns (ITRs) for the Financial Year 2024–25 (Assessment Year 2025–26) from July 31, 2025, to September 15, 2025.
Belated Return Filing: If you miss the initial deadline, you can file a belated return by December 31, 2025, subject to applicable penalties and interest.
Form 16 Issuance: Employers are expected to issue Form 16 by June 15, 2025. It's advisable to wait until after this date to ensure all necessary documents are available before filing.
Identification Proofs:
PAN Card
Aadhaar Card
Income Proofs:
Form 16: Issued by your employer, detailing salary and TDS.
Form 16A: For TDS on other incomes like interest.
Form 26AS: Consolidated tax statement from the Income Tax Department.
Annual Information Statement (AIS) and Taxpayer Information Summary (TIS): Summarize financial transactions and tax information.
Banking and Investment Documents:
Bank account statements.
Interest certificates from banks or post offices.
Details of fixed deposits, mutual funds, stocks, and other investments.
Deduction Proofs:
Investment proofs under Section 80C (e.g., PPF, ELSS).
Health insurance premiums under Section 80D.
Education loan interest under Section 80E.
Home loan interest and principal repayment details.
Other Relevant Documents:
Rental income details and property documents.
Capital gains statements from the sale of assets.
Foreign income and asset details, if applicable.
Salary Slips: For the entire financial year.
House Rent Receipts: If claiming House Rent Allowance (HRA).
Leave Travel Allowance (LTA) Proofs: If claiming LTA exemption.
Form 12BB: Statement of claims by an employee for deduction of tax.
Profit and Loss Statement: Detailing income and expenses.
Balance Sheet: Reflecting assets and liabilities.
GST Returns: If registered under GST.
Audit Reports: If applicable, under Sections 44AB or 44AD.
TDS Certificates: For tax deducted on payments received.
Details of Loans and Advances: Including interest payments.
ITR-1 (Sahaj): For individuals with income up to ₹50 lakh from salary, one house property, and other sources.
ITR-2: For individuals and HUFs not having income from business or profession.
ITR-3: For individuals and HUFs having income from business or profession.
ITR-4 (Sugam): For individuals, HUFs, and firms (other than LLP) having presumptive income from business or profession.
Wait for Complete Documentation: Ensure all necessary forms, especially Form 16 and AIS/TIS, are available before filing to avoid discrepancies.
Verify Pre-filled Data: Cross-check pre-filled information in the ITR form with your actual documents.
Choose the Appropriate Tax Regime: Evaluate whether the old or new tax regime is more beneficial for your financial situation.
E-Verification: After filing, complete the e-verification process within 30 days to validate your return.
