The Income Tax Department has notified ITR forms for FY 2024-25 (AY 2025-26), with significant changes aimed at simplifying filing and enhancing compliance. ITR-1 and ITR-4 were released with new Excel utilities requiring detailed HRA, TDS, and deduction disclosures. LTCG up to â‚ą1.25 lakh can now be reported in ITR-1. The new tax regime is the default, with opt-out provisions for the old regime. A new ITR-U form allows return corrections within four years. The ITR filing deadline for individuals (non-audit cases) has been extended to September 15, 2025, to accommodate these updates.
Here are the key changes to ITR‑1 (Sahaj) for FY 2024‑25 (AY 2025‑26):
🧾 1. Long‑Term Capital Gains (LTCG) Allowed
You can now report LTCG from listed equities or mutual funds up to ₹1.25 lakh directly in ITR‑1. Previously, this required the more complex ITR‑2 or ITR‑3
2. Detailed HRA Disclosures (Schedule EA 10(13A))
New sections require you to provide:
- Place of work
- Basic salary + DA
- HRA received vs. rent paid
- Metro vs. non‑metro status
These details are mandatory to claim HRA deductions.
3. Home‑Loan Interest Reporting (Schedule 24(b))
Even for self‑occupied house property under ITR‑1, you must now fill in Schedule 24(b) with the interest on home loan declared.
4. TDS Section Declaration Required
Taxpayers filing ITR‑1 (and other ITRs) must now mention the exact section under which TDS was deducted for each income item.
5. Enhanced Validation for Old Tax‑Regime Deductions
If filing under the old regime:
- Provide document/policy numbers for deductions like 80C.
- Input additional details for deductions under Sections 80D, 80E, 80EE/EEA/EEB, 80DDB, etc.
- Automated checks via the Excel utility flag missing or inflated claims.
6. New Default Regime & Opt‑out Requirement
- The new tax regime (115BAC) is now the default.
- If you wish to claim deductions (like HRA, 80C, home loan interest, etc.), you must explicitly opt for the old regime in the form.
7. Deadline Extended to 15 Sept 2025
- Due date for filing ITR‑1 extended from 31 July to 15 Sept 2025, allowing extra time due to updated forms and utilities.
8. Excel Utility Launched (30 May 2025)
- New offline Excel‑based ITR‑1 and 4 tools were released on May 30, 2025—with built‑in validations to improve accuracy.
✅ Who Still Qualifies for ITR‑1?
- Resident individuals (not NRI/Not‑Ordinarily‑Resident),
- Total income ≤ ₹50 lakh, including salary/pension, one house property, interest, and LTCG ≤ ₹1.25 lakh, plus agriculture income ≤ ₹5,000
💡 Tips for Filing Smoothly
| Task | Recommendation |
|---|---|
| Choose Regime | Decide between new vs old at the start. Opt-out needed for old regime. |
| Collect Docs | Form 16, rent receipts, home‑loan statements, 80C/80D receipts, Form 26AS/AIS. |
| Detail Entry | Be ready to fill HRA schedules, home‑loan interest, LTCG details, TDS sections. |
| Use Excel Utility | Use the downloadable tool to catch errors early. |
| File Before 15 Sept | Use extra time to ensure correctness and avoid penalties. |
In summary, the ITR‑1 form for FY 2024‑25 has evolved significantly—it now supports LTCG up to ₹1.25 lakh, requires granular disclosure for HRA and home‑loan interest, demands TDS-section detail, and enforces strict validation when claiming deductions under the old regime. Plus, taxpayers must actively opt‑in for the old regime. With the extended deadline and new Excel-based utility, you have ample opportunity to file accurately.