Income Tax Return Filing FY 2024-25 has officially started. With the new tax regime becoming the default, taxpayers must now decide whether to stay with it or switch to the old regime—depending on their eligible deductions.
What’s New in Income Tax Return Filing FY 2024-25?
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The new tax regime is now default for all taxpayers.
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You must opt for the old regime during filing if you wish to claim exemptions.
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More disclosures required for deduction claims.
Should You Choose the Old Tax Regime?
Consider opting for the old regime if you:
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Claim House Rent Allowance (HRA)
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Pay interest on home loans
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Invest in LIC, PPF, or ELSS
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Have health insurance or education loan payments
Documents Required for Income Tax Return Filing FY 2024-25
You must provide additional details to support your deduction claims:
HRA (Section 10(13A))
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Place of employment
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Rent paid
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HRA received
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PAN of landlord (if rent > ₹1 lakh)
Home Loan Interest (Section 24b, 80EE, 80EEA)
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Loan account details
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Interest paid
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Sanction date and lender info
Investments under 80C
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LIC, PPF, ELSS details
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Amount and policy numbers
Health Insurance (80D)
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Premium paid
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Insurer name and policy number
Education Loan (80E)
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Loan account number
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Interest paid
Other Deductions (80DDB, 80DD, 80U)
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Medical certificate/Form 10IA
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UDID (if available)
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Disability or disease-specific details
Due Date for Income Tax Return Filing FY 2024-25
The last date to file ITR (non-audit cases) is 15 September 2025. Avoid delays—gather your documents early.
Start early and file accurately to avoid penalties and processing delays. To learn more or get expert help, visit: 👉 Income Tax Return Filing
Frequently Asked Questions (FAQs)
Can I choose the old regime while filing?
Yes, you can opt in for the old regime during the return filing process.
Is ITR mandatory if TDS is already deducted?
Yes, if your gross income exceeds the exemption limit.
Can I revise my return later?
Yes, a revised return can be filed until 31 December 2025.
