With the financial year 2024-25 ending, the focus has now shifted towards the Income Tax Return (ITR) filing for the assessment year 2025-26. The Income Tax Department is expected to release the updated ITR forms soon, after which the e-filing process will officially begin. Taxpayers are preparing their documents, but salaried employees especially will have to wait for their Form 16 to start filing.
E-Filing Portal May Open by April or May 2025
According to reports, the Central Board of Direct Taxes (CBDT) is likely to make the ITR forms available online and offline by April or May 2025. Once released, taxpayers will be able to access the portal and start filing their returns. However, for the salaried class, filing usually picks up speed once Form 16 is issued.
When Will Form 16 Be Issued for Salaried Employees?
Form 16 is a crucial document for salaried individuals, as it provides a complete summary of salary income and the tax deducted at source (TDS) by the employer during the year. As per income tax rules, employers must issue Form 16 by 15 June 2025. Therefore, salaried taxpayers usually start filing their returns from late May or June after receiving this document.
Important Dates for ITR Filing 2025
- Expected portal opening for e-filing: April-May 2025
- Deadline for employers to issue Form 16: 15 June 2025
- Last date to file ITR (without audit cases): 31 July 2025
Tax experts suggest that taxpayers should not wait till the last minute to file their ITR. Early filing not only helps avoid penalties but also allows time for correction if there are any mistakes in the filing.
How Soon Will You Get an Income Tax Refund?
The Income Tax Department has been working on speeding up the refund process. If your return is filed correctly and verified quickly, the refund is usually credited within 7 to 20 days after successful verification. However, this timeline may stretch if there are mistakes or mismatches in the return.
Steps to Get Faster Refunds
- Quick Verification: Complete e-verification through Aadhaar OTP or net banking immediately after filing.
- Pre-validated Bank Account: Ensure your bank account is linked with PAN and is pre-validated on the income tax portal.
- Accurate Filing: Double-check all details like TDS, deductions, and bank interest before submitting the return.
- Early Filing: File your ITR before 31 July 2025 to get faster refunds without facing portal overload at the last moment.
Tips for Easy ITR Filing in 2025
- Check Pre-filled Forms: The Income Tax portal now provides pre-filled forms. Always review the pre-filled information before submitting.
- Keep Documents Ready: Collect Form 16, bank interest certificates, dividend income statements, investment proofs under 80C, and insurance premium receipts in advance.
- Update Bank Details: Ensure that the bank account you mention in the ITR is active, linked with PAN, and eligible to receive electronic refunds.
- Use Reliable Internet: A good internet connection helps in smooth uploading and verification without interruptions.
With proper preparation and timely action, taxpayers can ensure a hassle-free ITR filing experience and faster refunds for the year 2025.
