Deadline Alert: File Your ITR by July 31, 2025—Avoid These 5 Common Mistakes to Prevent Tax Notices

As the financial year 2024-25 wraps up, it’s time for taxpayers to gear up for the Income Tax Return (ITR) filing season. The deadline for filing ITR for the assessment year 2025-26 has been set as July 31, 2025. Failing to file within this timeframe or committing certain common errors may attract unwanted notices from the Income Tax Department.

With new changes introduced in the taxation system this year, taxpayers are urged to be extra cautious while submitting their returns. Here’s a breakdown of what to watch out for during the ITR filing process.

🧾 Default Tax Regime Updated

As per the Finance Act of 2024, the new tax regime has now become the default option under Section 115BAC of the Income Tax Act. Taxpayers who prefer the old tax regime with its exemptions and deductions must opt for it explicitly while filing their return.

✅ Essential Tips to File Your ITR Correctly

Whether you are a salaried employee, a freelancer, or an investor, filing your ITR correctly is critical. Many people end up receiving tax notices due to easily avoidable mistakes. Here are five key errors to steer clear of:

1. Incorrect Tax Calculation

The most common error arises from choosing the wrong tax regime. Both the old and new regimes offer different tax rates and exemptions. Calculate your tax liability under both regimes before finalizing your selection to determine which one is more beneficial for you.

2. Wrong Claims on Deductions

Not all deductions apply to everyone. People often wrongly claim exemptions under Section 80C, 80D, etc., without checking their eligibility. Make sure your investments and expenses actually qualify for the deductions you're claiming.

3. Errors in Personal Details

Mistakes in personal information like your PAN number, name, bank details, or address can lead to your return being rejected or your refund being delayed. Always double-check this section before submission.

4. Omitting Sources of Income

Many taxpayers forget to mention all their income sources. Whether it’s rental income, part-time freelance earnings, or interest from savings, ensure that all sources are included in your return to avoid scrutiny.

5. Ignoring Form 26AS

Your Form 26AS, available on the Income Tax portal, contains a consolidated record of TDS, advance tax payments, and other tax-related transactions. Cross-check your entries against this form to ensure accuracy.

⏰ Why Filing Before July 31 is Crucial

Missing the deadline can lead to late filing penalties, interest on unpaid taxes, and even notices from the IT Department. Filing your return before July 31, 2025, not only keeps you compliant but also ensures that your refund (if applicable) is processed quickly.

Start gathering your financial documents now—salary slips, interest certificates, investment proofs, and other essentials—to file your return early and avoid the last-minute rush.

🔁 In Summary:

• 📅 Last date to file ITR: July 31, 2025

• ⚖️ New tax regime is default, but old regime can be opted

• ⚠️ Avoid these 5 mistakes to prevent IT notices

• ✅ Ensure accurate information and all income sources are declared

• 📄 Verify everything against Form 26AS