Mandatory ITR Filing Requirement Cases for AY 2025–26
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Mandatory ITR Filing Requirement Cases for the AY 2025–26:
Filing your Income Tax Return (ITR) is not only a statutory duty—it ensures transparency in your finances, helps you claim refunds, and keeps you compliant with Indian tax laws.
Summary of the ITR Filing Requirement for AY 2025–26 (FY 2024–25) :
Who Needs to File ITR?
| Category | When Filing is Mandatory |
|---|---|
| Individuals (< 60 years) | Income > ₹2.5 lakh |
| Senior Citizens (60–80 years) | Income > ₹3 lakh |
| Super Senior Citizens (80+) | Income > ₹5 lakh |
| Businesses/Firms | Always, regardless of income |
Taxpayer must also file ITR even if their income is below the exemption limit if the taxpayer owns foreign assets or earns foreign income, the taxpayer wishes to claim a refund, the taxpayer deposited ₹1 crore+ in a bank account, or the taxpayer’s electricity bill exceeds ₹1 lakh in a year.
An individual must file their income tax return if any of the following conditions are met:
- Income exceeds the basic exemption limit (Refer to table below for specific limits by age and regime)
- Cash deposits exceed ₹1 crore in a current account during the financial year.
- Cash deposits exceed ₹50 lakh in a savings account during the year.
- Spent more than ₹2 lakh on foreign travel during the year.
- Paid electricity bill exceeding ₹1 lakh in a year.
- Business turnover exceeds ₹60 lakh during the year.
- Professional receipts exceed ₹10 lakh in a year.
- TDS or TCS exceeds ₹25,000 during the year.(₹50,000 for senior citizens aged 60 or above)
- Invested in US stocks (or any other foreign stock) — Indian resident with foreign investments.
- Held foreign assets during the financial year.
Recommended (But Not Mandatory):
Filing ITR is recommended if Taxpayers want to carry forward a loss under any head (e.g., capital loss). Taxpayer are eligible for a TDS refund. Taxpayer AIS (Annual Information Statement) shows high-value transactions that require clarification or reporting.
Special Case – Senior Citizens (Age 75+)
Exemption from ITR filing is available if The person is a resident senior citizen aged 75 years or more, and Has only pension income and interest from the same bank, and Has submitted Form 12BBA to the bank.
ITR Forms for AY 2025–26
| Form | Applicable To |
|---|---|
| ITR-1 (Sahaj) | Salaried individuals with income ≤ ₹50 lakh (no business income) |
| ITR-2 | Individuals & HUFs with capital gains/multiple properties |
| ITR-3 | Individuals with business/professional income |
| ITR-4 | Presumptive income under Sections 44AD, 44ADA, 44AE |
| ITR-5 | Firms, LLPs, AOPs, BOIs |
| ITR-6 | Companies (other than those claiming exemption under Sec 11) |
| ITR-7 | Trusts, political parties, charitable institutions |
Basic Exemption Limits (AY 2025–26)
| Regime | Age Group | Exemption Limit |
| Old Regime | Below 60 | ₹2,50,000 |
| 60–79 | ₹3,00,000 | |
| 80 and above | ₹5,00,000 | |
| New Regime | All ages | ₹3,00,000 |
Important Due Dates (AY 2025–26)
| Category | Due Date |
|---|---|
| Individuals / HUFs (Non-Audit) | 31st July 2025 |
| Taxpayers requiring Audit | 31st October 2025 |
| Transfer Pricing (Form 3CEB) cases | 30th November 2025 |
Filing before due date allows you to revise the return later, if needed.
Tax Audit Applicability—Section 44AB
| Criteria | Audit Required? |
|---|---|
| Business turnover > ₹1 crore (with cash transactions) | Yes |
| Business turnover > ₹10 crore (no cash transactions) | Yes |
| Professional income > ₹50 lakh | Yes |
Do’s & Don’ts while ITR Filing
| Do’s | Don’ts |
|---|---|
| Keep Form 16, AIS, TIS, investment proofs | Don’t choose wrong ITR form |
| Verify ITR within 30 days | Don’t ignore IT Dept. communications. |
| Pre-validate your bank account | Don’t mismatch income & TDS |
| Ensure accurate PAN–Aadhaar linking | Don’t wait till the last day to file |