ITR Filing 2025: Only 23 Days Left To File Return For FY25, Check Essential Documents

The clock is ticking for taxpayers as the extended deadline for filing Income Tax Returns (ITR) for the financial year 2024-25 (assessment year 2025-26) approaches. With just 23 days remaining, individuals must ensure that they have all necessary documents in place to avoid last-minute hassles. According to experts, preparing early not only reduces stress but also minimises errors while reporting income, deductions, and tax payments. Since the Central Board of Direct Taxes (CBDT) has granted extra time until 15 September 2025, taxpayers still have an opportunity to complete their filing correctly and on time.

Why Filing Early Matters

Experts emphasise that waiting until the final week can cause problems, such as technical glitches on the income tax portal or missing out on verifying crucial details. Filing early gives you enough time to cross-check discrepancies, especially if you have multiple income sources, capital gains, or deductions to claim. Additionally, errors made in haste could trigger notices from the tax department, something that can easily be avoided with timely preparation.

Form 16 – The Starting Point For Salaried Employees

For salaried taxpayers, Form 16 remains the most critical document. It is issued by employers and acts as proof that tax deducted at source (TDS) has been deposited with the government. Form 16 has two segments:

• Part A contains details of the employer’s PAN and TAN along with quarterly TDS deductions.
  
  
  
• Part B provides a detailed breakup of salary, allowances, and deductions under Chapter VI-A.

Without this certificate, it becomes difficult to reconcile salary income with taxes already paid.

Capital Gains Statement For Investors

Individuals who have sold shares, mutual funds, or other assets during the financial year need a capital gains statement from their broker or investment platform. This helps in determining whether the gains are short-term or long-term, which directly affects the tax rate applicable. Failing to include these details can lead to mismatches between your income declared and the Annual Information Statement (AIS) recorded by the tax department.

Bank Statements And Interest Certificates

Another often-overlooked income source is interest earned from savings accounts, fixed deposits, or recurring deposits. Banks issue interest certificates summarising the total earnings in a financial year. Since this income is taxable beyond certain limits, keeping these statements ready ensures accurate disclosure and prevents under-reporting.

PAN And Aadhaar – Mandatory Identifiers

Both PAN and Aadhaar numbers are mandatory while filing ITR. Linking Aadhaar with PAN has been made compulsory, and failure to do so could render your return invalid. Therefore, taxpayers must check whether their linkage is active before proceeding with filing.

AIS, TIS And Form 26AS – The Verification Tools

According to tax experts, one of the most important steps in ITR preparation is cross-verifying data from the income tax department’s records:

• Form 26AS reflects TDS, TCS, advance tax, and self-assessment tax details.
  
  
  
• Annual Information Statement (AIS) includes a consolidated view of income, interest, dividends, securities transactions, and more.
  
  
  
• Taxpayer Information Summary (TIS) displays summarised data based on information reported by third parties like banks and registrars.
  
  

Checking these reports ensures that all income sources are correctly reported and helps in reconciling any mismatch.

The countdown has already begun, and with less than a month to go, timely action is crucial. Gathering documents in advance ensures that taxpayers don’t face errors, omissions, or last-minute panic. Experts recommend cross-checking every detail with Form 26AS and AIS to avoid future disputes with the tax department. Filing ahead of the deadline also gives you peace of mind and a smoother experience on the portal.

Disclaimer: This article is for informational purposes only and should not be taken as financial or legal advice. Taxpayers are encouraged to consult certified tax professionals or financial advisors for guidance tailored to their specific circumstances.