By Safe Investment September 15, 2025
ITR Filing 2025: The last date for filing Income Tax Return (ITR) is today, 15 September 2025. Even a small mistake or hiding information while filing tax can become a big risk. If any important information is missed, then there can be a fine of up to Rs 10 lakh and 6 to 7 years of imprisonment
ITR Filing 2025: The last date for filing Income Tax Return (ITR) is today, 15 September 2025. Even a small mistake or hiding information while filing tax can become a big risk. If any important information is missed, there can be a fine of up to Rs 10 lakh and 6 to 7 years in jail. Let us know what things are important to take special care of.
If you have property or account abroad, then definitely tell
If you live in India but you have a bank account, property, shares or insurance abroad, then it is mandatory to fill it in Schedule FA in ITR. At the same time, if any income comes from abroad, then it has to be mentioned in Schedule FSI. Here it is necessary to mention the name of the country and the tax paid there. Hiding information can lead to direct punishment and heavy fine.
Mandatory to give details of crypto and NFT
Nowadays many people invest in cryptocurrency and NFT. It is necessary to write all such transactions in Schedule VDA. In this, the amount has to be mentioned along with the date of purchase and sale. Similarly, if you have shares of an unlisted company, then it is mandatory to tell their purchase-sale and number of shares.
Strictness on those with more than 1 crore income
If your annual income is more than Rs 1 crore, then you will have to give complete information about your assets and liabilities. This includes house, jewelry, car, shares, cash, loans taken and given. If you are a company director, you will also have to give your Director Identification Number (DIN), name of the company, its PAN and listed and unlisted status.
Partnership and bank details are also important
If you are a partner in a firm, then the name of that firm, PAN, status, your share and salary or interest received must be clearly mentioned. Also, it is important to check the bank account details so that the IFSC code and account type are entered correctly.
Do not forget to do e-verification
After filing ITR, it is necessary to do e-verification within 30 days. If this is not done, your filing will be considered invalid. Overall, even a small mistake while filing ITR can cause huge loss. Therefore, file the return by giving complete and correct information on time.
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