1. Deadline Nears
The Income Tax Return (ITR) filing deadline for the financial year 2025-26 is September 15. Taxpayers are rushing to complete their submissions before the cutoff.
2. Massive Filings Already Done
According to the ITR department, over 6 crore income tax returns have already been filed this year, reflecting strong compliance among taxpayers.
3. Who Needs to File
Individuals, businesses, and entities with taxable income above the prescribed limits must file their ITR to avoid penalties and interest.
4. Online Filing Convenience
Taxpayers can file returns online via the Income Tax Department’s e-filing portal, making the process faster and more efficient.
5. Penalties for Delay
Filing after september 15 may attract a late fee under Section 234F and interest on any unpaid tax, so timely submission is crucial.
6. Refunds and Processing
Filing on time ensures faster processing of refunds, where eligible taxpayers can get their refunds credited directly to their bank accounts.
7. Proactive Tips
Taxpayers are advised to verify Form 26AS, maintain all investment proofs, and check deductions before filing to avoid mistakes.
Disclaimer:
The views and opinions expressed in this article are those of the author and do not necessarily reflect the official policy or position of any agency, organization, employer, or company. All information provided is for general informational purposes only. While every effort has been made to ensure accuracy, we make no representations or warranties of any kind, express or implied, about the completeness, reliability, or suitability of the information contained herein. Readers are advised to verify facts and seek professional advice where necessary. Any reliance placed on such information is strictly at the reader’s own risk..jpg)
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