Tax Ready! Filing for ITR-1 & ITR-4 Begins for AY 2025-26

Great news, taxpayers! The Income Tax Department has started accepting filings for ITR-1 (Sahaj) and ITR-4 (Sugam) for the Assessment Year 2025-26 (Financial Year 2024-25). You can now submit your returns online utilizing pre-filled data for a more efficient process or take advantage of the handy Excel Utilities for offline preparation.

Why File Now?

• Pre-filled information: It saves time and minimizes mistakes by automatically populating key details. Just review and confirm!
• Options: Select between the straightforward online portal or the familiar Excel Utility for preparing your return.

Who Should File ITR-1 & ITR-4?

• ITR-1 (Sahaj): Suitable for most salaried individuals, those with one house property, and other basic income sources (total income up to Ôé╣50 Lakh).
• ITR-4 (Sugam): Designed for individuals, HUFs, and firms (non-LLP) choosing the presumptive taxation scheme (total income up to Ôé╣50 Lakh).

Key Dates to Keep in Mind:

• July 31, 2025: This is the typical due date for most individual taxpayers, including the majority filing ITR-1 and ITR-4.
• September 15, 2025: An extension has been granted for assessees needing an audit (according to CBDT Notification No. 17/2025). Make sure to check if this pertains to you!

Don't procrastinate until the last minute. Filing early helps alleviate stress and ensures smooth compliance.

Begin your tax filing adventure for Assessment Year 2025-26 with myitronline today! Reach out to us at 9971055886 for assistance.