ITR Filing Last Date for AY 2025-26 Announced with Key Deadlines to Remember

Tax season brings with it the need for careful planning and timely compliance. Recently, the ITR filing Last date for AY 2025-26 has been officially announced, enabling taxpayers to prepare in advance and fulfill their tax-related obligations without stress. Filing your Income Tax Returns (ITR) is a crucial responsibility for individuals and businesses to ensure transparency in financial operations, claim refunds, and avoid penalties. This article will outline the Last date, key deadlines, and the tools taxpayers can leverage, such as the income tax calculator, to streamline the process. Additionally, we’ll touch upon the benefits of availing a home loan, along with guidance on how to apply for it effectively.

ITR Filing Last Date for AY 2025-26

The Income Tax Department has revealed that the ITR filing Last date for AY 2025-26 is set for April 1, 2025. Taxpayers across the country will be able to access the online portal to file income tax returns as per their income sources and brackets. It’s imperative to mark this date on your calendar as it signifies the beginning of the tax filing process for individuals, salaried employees, businesses, and freelancers.

Both individuals and organizations are required to submit their returns by the applicable deadlines to avoid penalties and legal consequences. For salaried individuals and taxpayers who do not require a tax audit, the last date is typically July 31. However, businesses or taxpayers subject to audits usually have until October 31 to complete their filings.

Key Deadlines for AY 2025-26

It is crucial for taxpayers to be aware of the following dates associated with ITR filing Last date for AY 2025-26:

1. April 1, 2025: This is when the ITR filing begins for Assessment Year 2025-26.
   
2. July 31, 2025: Last date for individual taxpayers and salaried employees who don’t need an audit.
   
3. October 31, 2025: Deadline for taxpayers requiring audits, such as businesses and firms.
   
4. December 31, 2025: Final date for taxpayers filing belated returns with penalties.
   

Understanding these deadlines empowers taxpayers to plan their filings effectively and avoid last-minute errors or penalties.

How to File Your ITR

Filing your ITR can seem intimidating, but with proper preparation and use of available tools, it becomes seamless. Here’s how you can do it:

1. Last Using an Income Tax Calculator: This handy tool lets taxpayers compute their tax liability easily and accurately. It’s especially useful for salaried professionals and self-employed individuals who want an overview of how much tax they owe based on their annual income, savings, investments, and applicable deductions.
   
2. Ensure all Documents are Ready: Collect essential documents like Form 16 (for salaried employees), bank statements, proof of investments eligible for deductions, and other financial records.
   
3. Login to the Government Portal: File your returns online through the Income Tax Department’s official website. Ensure you select the correct ITR form, based on your source(s) of income.
   
4. Claim Deductions and Refunds: Take advantage of deductions like those under Section 80C, 80DD, or 80G for eligible expenses and investments.
   
5. Preview and Submit your ITR: Cross-check the information you’ve entered before final submission to avoid discrepancies.
   

Remember to file your returns before the deadlines mentioned to steer clear of penalties for late filing.

Benefits of a Home Loan

When planning your finances alongside your tax filings, you may want to consider the opportunities associated with borrowing a home loan. Whether you’re planning to purchase your first house, upgrade to a bigger home, or invest, home loans come with a plethora of benefits that aid both your financial planning and wealth-building.

Here are a few key benefits:

1. Affordable EMIs: With competitive interest rates, many lenders offer affordable Equated Monthly Installments (EMIs), making it easier to repay the loan over an extended tenure.
   
2. Tax Benefits: Borrowers are eligible for substantial tax deductions on their home loans under Sections 80C and 24(b) of the Income Tax Act. The principal repayment amount and interest paid on the home loan can be claimed as deductions, thereby reducing your overall tax liability.
   
3. High Loan Value: Depending on your eligibility and income, you can obtain up to 75%-90% of your property’s value as a loan.
   
4. Longer Tenure Options: Opt for repayment tenures lasting up to 20–30 years. This provides the borrower with more financial flexibility.
   
5. Build an Asset: Buying a home contributes to building a tangible asset that can appreciate over time, offering long-term security.
   
6. Flexible Interest Rates: You can choose between fixed or floating interest rates based on your preference and market conditions.
   

How to Apply for a Home Loan

Applying for a home loan involves a few simple steps that ensure you get the best financing solution for your housing needs. Here’s a guide:

1. Do Your Research: Compare interest rates, processing fees, and repayment tenures offered by various lenders to find a plan that suits your financial goals.
   
2. Check Eligibility: Lenders typically consider your age, income, employment stability, credit score, and property details to assess eligibility. Use an income tax calculator to understand how a home loan might impact your taxable income with deductions.
   
3. Prepare Documents: Gather essential documents including ID proof, income proof, property-related documents, and bank statements.
   
4. Submit Application: Visit the lender’s website or nearest branch to fill out the application form. Many institutions also offer online application facilities for quicker processing.
   
5. Verification Process: The lender will verify your documents, assess your eligibility, and approve your loan based on your repayment capacity.
   
6. Loan Approval and Disbursal: Once approved, the loan amount will be disbursed to your account or directly to the seller/developer of the property.
   

For example, if you explore financing options via Bajaj Finserv, the process is generally straightforward and designed to ensure quick approval and disbursal to empower borrowers in their journeys to homeownership. To learn more, visit Bajaj Finserv Home Loan Page.

Conclusion

The announcement of the ITR filing Last date for AY 2025-26 on April 1, 2025, offers taxpayers ample time to gear up for the upcoming tax filing season. By using tools like the income tax calculator and closely monitoring deadlines, taxpayers can ensure timely compliance. Concurrently, the financial benefits associated with a home loan – including tax deductions and affordable repayment – make it a significant option to consider for individuals looking to invest in property or build long-term assets.

If you’re planning to take advantage of a home loan, the process is easy-to-follow, helping you secure a loan without hassle. For further assistance, you can explore financing options offered by Bajaj Finserv, a leading name in home loans, to initiate your application process seamlessly.