Navigating the Indian tax system can seem daunting, but with the right information, you can manage your tax obligations confidently. Whether you're an individual, a business owner, or a Non-Resident Indian (NRI), understanding the processes for Income Tax Filing, Tax Returns, Business Tax Returns, NRI Tax Filing, Monthly & Quarterly GST Returns Filing, and GST Registration is crucial. Let's break down each of these components to help you stay compliant and avoid penalties.

Income Tax Filing & Tax Returns

Deadline Alert: For the Financial Year 2024–25 (Assessment Year 2025–26), the last date to file your Income Tax Return (ITR) without penalty is July 31, 2025. Missing this deadline can result in a late fee of up to ₹5,000. ClearTax+1@EconomicTimes+1

Key Updates:

• Aadhaar-PAN Linking: It's mandatory to link your PAN with Aadhaar before filing your ITR.
  
  

• Updated Returns (ITR-U): If you've missed filing or need to correct your return, you can use the ITR-U form, effective from April 1, 2025.
  
  

Choosing the Right ITR Form:

• ITR-1 (Sahaj): For salaried individuals with income up to ₹50 lakh.
  
  

• ITR-2: For individuals with income from capital gains or multiple properties.
  
  

• ITR-3: For professionals and business owners.
  
  

ITR-4 (Sugam): For presumptive income from business or profession.Samayam Telugu+1Maharashtra Times+1