Income Tax Calculator
Warning: Filing incorrect information on your Income Tax Return (ITR) can lead to penalties and potential legal consequences.
Disclaimer: This is for knowledge-sharing purposes only. Always consult a qualified tax professional or chartered accountant for accurate guidance and to ensure your filings and returns are correct - ITR Chennai.in.
Disclaimer: This is for knowledge-sharing purposes only. Always consult a qualified tax professional or chartered accountant for accurate guidance and to ensure your filings and returns are correct - ITR Chennai.in.
ITR FAQ’S
1. Can we switch from New Regime to Old Regime while filing ITR?
Yes, salaried individuals can switch between regimes every year while filing ITR. Just select the desired regime while filing.
2. Which is better: Old Tax Regime or New Tax Regime?
It depends on your deductions and exemptions; if you have more deductions, Old Regime may be better.
3. Can I change the tax regime at the time of filing?
Yes, salaried individuals can switch regimes while filing the ITR before the due date without any penalty.
4. What is the last date to file ITR for FY 2024-25?
The last date to file your Income Tax Return for FY 2024-25 (AY 2025-26) is 31st July 2025 for most individual taxpayers.
5. Can I file my ITR after the due date?
Yes, you can file a belated return until 31st December 2025, but late fees and interest charges may apply.
