Less than 3 hours to go, and you still haven't filed your ITRs? Here’s your accelerated, ultimate last-hour ITR filing checklist
(a Foofi special for my “I'll do it tomorrow peeps”. There’s NO TOMORROW!)
Over 7 crore people have filed their ITRs, but if you’re not one of them, this one is for you. You have got 3 hours, 1 cup, and 1 mission: file the ITR without drama. Here’s a zero-judgment, high-efficiency setup that turns your work desk into a mini tax war room till 12 midnight.
Update: In some good news for my last-minute taxpayers, the I-T department has decided to extend the ITR filing deadline to Sep 16, so you still have a chance! This means that you can file your ITR till September 16, midnight.
Wait, what's the rush? Can I not file my ITR after September 15th?
Sure, you can. You can certainly file your ITR even after tomorrow, till December 31st, 2025. That would be a belated return. However:
You will have to pay Rs 5,000 as a penalty if your annual income is more than Rs 5,00,000. If your annual income is less than Rs 5,00,000, you’ll have to pay Rs 1,000 as a penalty.
You will lose the option to switch from the default new tax regime to the old tax regime after midnight tonight. So, if you have insurance premiums, a home loan, an education loan, and more deductions that could possibly yield you more tax benefits under the old tax regime, you’ll lose the chance to switch.
You’ll also have to pay penal interest at the rate of 1% per month on your tax due till the time you file. So, assuming you decide to file your ITR on 13th November, you’ll have to pay penal interest on your due tax at the rate of 1% per month between September 15th and November 13th.
If you’ve incurred losses while selling your shares or mutual fund units in the stock markets during the last year, you won't be able to carry them forward and then set them off against any future gains, because you did not file your ITR on time. Late filers are only allowed to carry forward losses incurred against house property to subsequent years.
Not fun at all, right? So, pull up those socks, channel your inner tax ninja, and file that ITR, quickly but efficiently, with the little time left on the clock.
So, how do we go about it?
First, switch on your Do Not Disturb mode.
Music: Lo-fi beats /productive Bollywood instrumentals/brain-rot Youtube videos. In short, whatever helps you work best.
Coffee: Filter, strong. Water bottle next to it. We hydrate and we file.
Step 1- Create a folder called ITR_FY24-25 on your desktop. Dump these in
Form 16
Form 26AS + PDFs of Annual Information Statement (AIS), and TIS (Tax Information Statement)
Interest statements (savings A/c, FDs/RDs) from each bank you have an account with
HRA rent receipts + landlord PAN (if you are claiming HRA under the old tax regime)
Home-loan interest certificate, if you have a home loan
ELSS/PPF/NPS proof (if claiming).
Pro tip- For ELSS proof, you download the ELSS tax statement from whichever brokerage app you are using, such as Paytm Money, Groww, etc.Health + Life insurance premium receipts
Broker P&L / Capital gains statement (equity/MFs/derivatives). Again, if not handy, you can download them from the broker’s app.
Education loan interest certificate (80E), if any
At this point, check if you have a pre-validated bank account status registered in the portal for refund.
If you haven't done so already, quickly follow these steps:
Log in to the e-Filing portal using PAN / Aadhaar. On the My Bank Accounts page, click Add Bank Account.
On the Add Bank Account page, enter the Bank Account Number, select Account Type and Holder Type, and enter IFSC. Bank Name and Branch get auto-populated based on IFSC.
Click Validate.
On successful validation, a success message is displayed. You will also receive a message on your mobile number and email ID registered on the e-Filing portal.
P.S. Don't forget to do this, since not having a pre-validated account means your income tax refunds will not be credited.
Step 2: Log in → e-File → Income Tax Returns → File → Pick ITR as applicable.
Confused about the regime? Salaried individuals have the chance to change their tax regime (from new to old) while filing the ITR itself. While the new tax regime is the default option, make sure you explicitly choose the old tax regime if you wish to.
You can also use this calculator (https://incometaxindia.gov.in/pages/tools/tax-calculator.aspx) to make a quick calculation of which tax regime would suit you better. But simply put, the new regime would work better if you have few deductions and like simple math.
Old is gold if you’ve got chunky 80C/80D/home-loan/HRA benefits.
Pick your applicable ITR form (refer to this-https://finfoofi.substack.com/p/wondering-which-itr-form-is-right) and then off you go!
Thankfully, most data is pre-filled. Match with AIS/TIS & 26AS. Fix obvious gaps (FD interest, dividends).
Compute your tax liability (if any), and then file your ITR.
Step 3: E-verify immediately, using Aadhaar OTP, net-banking, or Digital Signature Certificate.
If you don't verify, your ITR does not count as valid, and you’ll have to pay penalties for late filing (bummer!). Verify your ITR within 30 days (or if you listen to Foofi-IMMEDIATELY). “I’ll verify later” is how refunds take a vacation.
Social media has been abuzz with how the ITR filing portal has been down, and how it has become nearly impossible to file ITR at this point of time, since the site is constantly crashing. While there’s very little you can do regarding the site (clearly, someone at Infosys did NOT work 70 hours), here are a few simple things you can do to slightly speed the process:
Delete temporary files → Press Win + R → type temp and %temp% → delete all files.
Clear browser cache & cookies → Go to Browser Settings → Clear browsing data (cache + cookies).
Use a different/supported browser → Latest version of Chrome or Edge.
Open in Incognito/Private Mode → Shortcut: Ctrl+Shift+N OR Ctrl+Shift+P (Firefox).
Let’s be real—this is your best shot. If your ITR filing fails, take it as a flashing neon sign to start early next time. And if it goes through, pat yourself on the back… then remember: tax planning is not a last-hour cardio workout. Do it early, save your heart from 5 mini-attacks next year.