Who Needs To File ITR In 2025? Check Income Limits, Penalties, & Section 87A Benefits
Updated: 30-05-2025 at 12:34 PM
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For Indian taxpayers, filing an income tax return (ITR) is a basic obligation. However, with the introduction of new tax regimes and changes in exemption limits, the criteria for mandatory filing have become increasingly complex. This article examines income thresholds, the implications of selecting a tax regime, and the latest updates from the Income Tax Department to assist you in determining the particulars of filing for FY 2024-25 (AY 2025-26).
What Is The Minimum Income To File An ITR?
Whether or not taxpayers are obligated to file an ITR depends on their total income and the tax regime selected.
Under the Old Tax Regime:
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Individuals under 60 years: Required to file if income exceeds ₹2.5 lakh.
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Senior citizen (60-80): Threshold is ₹3 lakh.
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Super senior citizen (80+): Threshold is ₹5 lakh.
Under the New Tax Regime:
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The basic exemption limit is ₹3 lakh for all individuals.
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Incomes up to ₹7 lakh qualify for a full tax rebate under Section 87A, which means that individuals earning that amount would have no tax liability.
Also Read: ITR Filing 2025
Important Updates For FY 2024-25 (AY 2025-26)
New Tax Regime as Default: The new tax regime, amended in the recent Budget with different slab rates and fewer exemptions, will now be the default tax regime. If any taxpayer prefers the old regime (for example, if they received more exemptions under the old regime), they can still exercise their option to move to the old regime.
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Standard Deduction: The new tax regime provides a Rs 75,000 standard deduction on gross salary under the new regime.
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Availability of Form 16: Employers must provide Form 16s to employees by June 15, 2025, to ensure there is enough time for employees to file their returns.
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ITR Forms: The Income Tax Department has made available Excel utilities for ITR-1 and ITR-4 applicable for individuals with total income of up to Rs.50 lakh from salaries, one house property or other sources.
When Do Individuals Need To File An ITR?
Even if your income is just above the taxable limit, there are ways for you to eliminate tax. Find out how you can take advantage of the Section 87A rebate that provides some relief under both tax systems.
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You have deposited more than 1 crore rupees in a current account or accounts.
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You have incurred expenditure on foreign travel of more than 2 lakh rupees.
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You have consumed electricity of more than 1 lakh rupees.
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You have assets located outside India, or have a signing authority on any account located outside India;
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You are a resident who has income from foreign sources.
Also Read: Why Does It Take 18-20 Days For The Tax Department To Process Your ITR In India?
Penalties For Non-Compliance
Not filing an income tax return when you should can lead to serious penalties and legal issues. Learn what fines, interest, and issues you could face when you do not comply.
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Late Filing Fee: A late filing fee of ₹5,000 if the return is filed after the due date but before December 31, 2025. If the taxpayer has an income below ₹5 lakh, the fee is ₹1,000.
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Interest on Undue Taxes: Interest will be charged under Section 234A due to delay in filing; interest is also charged under Section 234B and 234C for delayed payment of advance tax.
Conclusion
Tax filing and tax regime requirements can be complicated, especially with the new tax regime. It is important to know your income, which new tax regime works best for you, and to file timely manner to avoid penalties. Always stay informed! And if you are dealing with an especially complicated tax matter, you may wish to consult a tax professional to avoid unnecessary miscalculations.
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