Income Tax Return 2024-25: Tax refunds being processed quickly, know the last date and procedure for ITR filing

The ITR filing process for FY 2024-25 has already begun, with refunds being processed quicker than previous years. Below you’ll find all the key details including the deadline, required documents, and step-by-step filing procedure.

New Delhi: The process of filing the Income Tax Return (ITR) for FY 2024-25 is in full swing. The Income Tax Department has activated the ITR-2 and ITR-3 forms on the income tax portal so that salaried people, professionals, and businessmen can now file their returns easily, reports Dynamite News correspondent.

This time the biggest relief is that the refund process has become very fast. Earlier, it took several weeks to months to get a tax refund, while now it is being credited to the account of taxpayers within 24 hours to 5-10 days.

What is the last date to file ITR?

This time the deadline to file ITR has been kept on 15 September 2025. A person who will file his ITR within this fixed deadline can get the benefit of a refund on time. After the deadline, there will be an option to file a belated ITR, If you miss the ITR filing due date, you will still have to pay the late fee and interest charges, and you will not be allowed to carry forward any losses for future adjustments.

How to file ITR

• Go to the incometax.gov.in website.
• If you are already registered, then enter the PAN number and log in.
• Click on the 'E-File' tab and choose 'File Income Tax Return.'
• Select assessment year 2024-25.
• Choose your category.
• Select the ITR form (ITR-1, 2, 3, or 4) according to your position.
• Fill in the information sought and upload all the documents.
• Finally, it is mandatory to e-verify the form.

Important: If you do not e-verify ITR within 30 days of filing, the refund can be stopped.

What documents will be required?

• PAN Card and Aadhaar Card
• Bank statement
• Form 16 (for Salaried Employees)
• Donation receipts (if the discounts are being claimed)
• Stock or Mutual Fund Trading Detail
• Bank account that is linked to PAN

Who is required to file an ITR?

• If you have deposited Rs 1 crore or more in one or more current accounts
• Business equity is 60 million or more.
• Have spent more than 2 lakh rupees on traveling abroad
• Electricity consumption of 1 lakh or more
• The amount of TDS/TCS is ₹ 25,000 or more.

Stay tuned to Dynamite News for more updates and In-Depth analysis on ITR filing.