ITR filing due date 2025: New vs old regime, how to track refund status

With the ITR filing deadline upon us, one of the biggest decisions is whether to file under the old regime or the new regime. And when will the refunds come.

With the Income Tax Return (ITR) filing deadline for AY 2025-26 on 15 September 2025, one of the biggest decisions taxpayers face is whether to file under the old regime or the new regime. The choice can directly impact how much tax you pay—or save. Here’s a detailed comparison to help you pick the right option before you file.

The last date for ITR filing is 15 September 2025. (Mint)

The Old Tax Regime

Under the old system, taxpayers get access to a wide range of exemptions and deductions, which can significantly reduce taxable income.

Tax Slabs (Old Regime):

1. Up to ₹2.5 lakh – Nil
2. ₹2.5–5 lakh – 5%
3. ₹5–10 lakh – 20%
4. Above ₹10 lakh – 30%

Key Benefits:

1. 80C deductions (up to ₹1.5 lakh) for PPF, ELSS, LIC, tuition fees, etc.
2. 80D deductions for health insurance.
3. HRA and LTA exemptions for salaried employees.
4. Interest on housing loan up to ₹2 lakh under Section 24B.

Best For: Salaried employees with significant investments, home loans, or HRA claims.

The New Tax Regime

Introduced in 2020 and made the default regime from FY 2023-24, the new regime offers lower tax rates but fewer deductions.

Tax Slabs (New Regime, FY25):

1. Up to ₹3 lakh – Nil
2. ₹3-6 lakh – 5%
3. ₹6-9 lakh – 10%
4. ₹9-12 lakh – 15%
5. ₹12–15 lakh – 20%
6. Above ₹15 lakh – 30%

Key Features:

1. Standard deduction of ₹75,000 for salaried employees and pensioners.
2. No exemptions like HRA, LTA, 80C, or home loan interest.
3. Simplified structure with fewer compliance requirements.

Best For: Individuals with fewer investments, renters without HRA claims, or those who prefer a hassle-free filing process.

Note: The revisions introduced in Union Budget 2025 for the new tax regime—new income tax slabs, Section 87A rebate up to ₹12 lakh, etc.—will come into effect from FY26. They won’t be applicable for FY25.

Refund Status

Once you file under your chosen regime, you can track refunds easily:

1. Go to incometax.gov.in → Login → e-File → Income Tax Returns → View ITR.
2. Refund status will be visible.
3. Visit NSDL Refund Status portal using your PAN and assessment year.

There is no one-size-fits-all answer. The old regime is better for taxpayers with big deductions and investments, while the new regime benefits those with simple incomes and fewer claims. Before filing your ITR, use an income tax calculator to compare both options. With the deadline fast approaching, this decision could save you thousands of rupees—and ensure you don’t miss out on faster refunds.