ITR filing made easy: Here's a simple step-by-step guide to file income tax return
Filing your income tax return (ITR) might seem overwhelming at first, but with the right steps, it's actually quite straightforward—especially when done online. And here's a bit of relief for crores of taxpayers as the Income Tax Department has extended the last date to file ITR for AY 2025-26 from July 31 to September 15, 2025, for those not requiring an audit. That means you now have 45 extra days to file your return without facing any late fee.advertisementTo make the process smoother, the tax department has released updated ITR utilities for ITR-1 (Sahaj) and ITR-4 (Sugam). These are user-friendly tools designed to help you fill in and submit your return online with ease.GATHER THESE KEY DOCUMENTS FIRSTBefore starting your income tax return, ensure you have key documents in hand. These include Form 16 from your employer, Form 26AS, the Annual Information Statement (AIS) and Tax Information Statement (TIS) from the income tax portal, and your bank statements.
Interest certificates from banks or post offices are also essential. Together, these help confirm your total income and taxes already paid.CHOOSING THE RIGHT ITR FORMThe Income Tax Department has released seven ITR forms (ITR-1 to ITR-7) for FY 2024–25.Most individuals fall under ITR-1 to ITR-4, depending on how they earn, whether through salary, business, or other sources.Now let's walk through the simple steps to file your ITR online.HOW TO FILE ITR ONLINE: STEP-BY-STEPadvertisementTo file your ITR online, start by visiting the official income tax e-filing portal and logging in with your PAN and password. Once logged in, go to the 'e-File' tab and click on 'File Income Tax Return'. Choose the appropriate assessment year, AY 2025-26, for income earned in FY 2024-25, and select the 'Online' filing mode.Next, choose your filing status. Most taxpayers will select 'Individual'. Then, pick the correct ITR form based on your income type. You'll also need to mention the reason for filing your return, such as having taxable income above the exemption limit or meeting certain other criteria.Review and validate all the pre-filled information shown on the portal, including your personal details, bank information, and income figures.Once everything looks correct, e-verify your return within 30 days. You can do this through Aadhaar OTP, Net Banking, EVC, or by posting a signed copy of ITR-V to the CPC in Bengaluru.Remember, accurate and timely ITR filing not only keeps you tax-compliant but also helps in quicker refunds and smoother financial planning. Take advantage of the new deadline and updated portal to file stress-free.Trending Reel
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Indian Express
44 minutes ago
- Indian Express
Advance tax collection growth slows to 3.9%, income tax mop-up lower than FY25 level
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Time of India
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- Time of India
Income Tax Return: Are capital gains from MFs taxed differently under new & old regime? What taxpayers should know about new LTCG, STCG rules
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Time of India
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- Time of India
How Trump's visa crackdown is pushing 16 US colleges toward financial collapse
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Foreign students as a financial lifeline Colleges such as St. Francis in Brooklyn have turned to international enrollment as a revenue strategy. After years of deficits, St. Francis closed fiscal 2023 with $66 million in net income, largely from the $160 million sale of its main campus and deep budget cuts—including scrapping its Division I athletics program and laying off staff. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Buy Brass Laxmi Ji Idol For Wealth, Peace & Happiness Luxeartisanship Shop Now Undo Still, auditors remain skeptical about its long-term viability, with an endowment of only $46 million, or $16,409 per full-time student, Forbes reported. In just one year, St. Francis nearly tripled its international student headcount—from 465 to 1,289—mainly through graduate programs. In a June 2024 audit, university officials stated that international enrollment had become 'a significant source of revenue growth," as quoted by Forbes. But with student visas now under strict federal control, this key strategy is in jeopardy. Colleges caught in a tightening policy vise The Trump administration's new executive order bans visa issuance to individuals from 11 countries including Iran, Libya, and Yemen. This comes alongside the State Department's recent pause in F-1 and J-1 visa appointments. The consequences could be catastrophic for institutions like Harrisburg University and Hult International Business School, where more than 75% of students are international. Both schools received a D in Forbes' 2025 Financial Grades. Other colleges like Manhattan School of Music and California College of the Arts, where over 40% of students are foreign, also risk severe enrollment shortfalls. At Campbellsville University, 83% of operational revenue comes from tuition, and nearly half of students are international. National impact and muted college response Foreign students contribute billions to the US economy and often remain in the country after graduation. Forbes cited a 2022 study by the National Foundation for American Policy showing that one-quarter of billion-dollar US startups were founded by international alumni. Despite this, all 16 colleges declined to comment, fearing retaliation. As Forbes noted, institutions that speak out risk being singled out by the Trump administration, as happened with Harvard University's Student Visitor Exchange Program, which was suspended before a court order intervened. For many of these schools, international students are not just an asset—they are a necessity. Without them, the lights may soon go out. 1. St. Francis College (Brooklyn, NY): A small private college with financial challenges, previously noted for budget deficits and layoffs. International students likely bolster its revenue, and visa restrictions could exacerbate existing issues. 2. Harrisburg University of Science and Technology (PA): Known for attracting international students, particularly in STEM fields. A significant portion of its revenue comes from international tuition, making it sensitive to visa crackdowns. 3. Hult International Business School (Boston, MA): A global business school with a large international student body (over 80% in some programs). Its business model heavily depends on foreign students, and visa restrictions could severely impact enrollment. 4. Manhattan School of Music (NYC, NY): A specialized institution with a notable international student population. Arts schools often rely on international talent, and visa limitations could reduce enrollment and revenue. 5. California College of the Arts (CA): Another arts-focused institution with financial dependence on international students. Its small size and high tuition costs make it vulnerable to enrollment drops. 6. Campbellsville University (KY): A private Christian university with a significant international student population, particularly in graduate programs. Visa restrictions could strain its budget. 7. University of Bridgeport (CT): A private university with a history of financial struggles, recently acquired by Goodwin University. International students are a key revenue source, and visa policies could threaten stability. 8. New York University (NYU): With one of the highest international student populations (over 20% of enrollment), NYU was mentioned as vulnerable to visa crackdowns due to its reliance on international tuition. 9. Columbia University (NY): Also noted for a large international student share (around 30%) and targeted visa revocations, such as the case of Mahmoud Khalil, a graduate student arrested for pro-Palestinian protests. 10. Johns Hopkins University (MD): Has a significant international student population (around 25%) and relies on their tuition and research contributions. Visa restrictions could disrupt its financial model. 11. Carnegie Mellon University (PA): Known for a high proportion of international students (over 20%), particularly in STEM fields, making it susceptible to visa policy changes. 12. Northeastern University (MA): Frequently cited for its large international student body and reliance on their tuition. Visa crackdowns could impact its financial stability. 13. Boston University (MA): Another institution with a high international student share, noted as potentially affected by tightened visa controls. 14. University of Southern California (USC): A major destination for international students, particularly from China (over 15% of enrollment). Visa revocations targeting Chinese students could hit USC hard. 15. University of Illinois, Urbana-Champaign (IL): A public university with significant international enrollment (over $500 million in tuition revenue from foreign students in 2023-2024). 16. Arizona State University (AZ): Another public institution generating substantial revenue ($545 million in 2023-2024) from international students, making it vulnerable to enrollment declines. Is your child ready for the careers of tomorrow? Enroll now and take advantage of our early bird offer! Spaces are limited.
