Archive · 30 Jul 2026
ITR Deadline Nears: Choosing the Right Filing Reason
The deadline to file your income tax return is tomorrow, 31 July.
Many people are confused about which option to pick in the question that asks why they are filing.
You can choose an option if you earned more than the exemption limit, if you want a refund, if you have losses to carry forward, if the law forces you to file, or if none of those apply.
Picking the wrong answer might mean the tax office sends you a notice or delays your refund.
The new tax rules say you must file if you earned more than ₹4 lakh, and the old rules say you must file if you earned more than ₹2.5 lakh if you’re under 60.
More than 5 crore people have already filed, so it’s a busy time.
The Upstox report warns that choosing the wrong option can cause problems.
July 31 ITR deadline is tomorrow, with over 5 crore returns already filed.
Taxpayers are confused by the “reason for filing ITR” question on the form.
Options include taxable income above exemption, refund claim, loss carry‑forward, mandatory filing, or other.
Selecting the wrong option may trigger a notice or delay refund disbursement, per Upstox report.
Income thresholds: ₹4 lakh (new regime) or ₹2.5 lakh (old regime) for individuals under 60; higher for seniors.
- Who
- Taxpayers filing income tax returns in India
- What
- Selecting the correct reason for filing ITR on the form
- When
- Deadline is 31 July 2024
- Where
- India
- Why
- To avoid notices and ensure timely refund disbursement
- Deadline
- 31 July 2024
- Threshold (new regime)
- ₹4 lakh
- Threshold (old regime, <60 yrs)
- ₹2.5 lakh
- Number of returns filed
- 5 crore
- Potential consequence of wrong choice
- Tax notice or refund delay