1. Overview
Every person whose income exceeds the basic exemption limit, and certain others (for example those with foreign assets or high-value transactions), must file a return of income. Returns are filed online on the Income Tax e-filing portal and must be verified within the prescribed time.
2. Applicability
Individuals, HUFs, firms, LLPs, companies and other persons with taxable income or meeting mandatory filing conditions. Returns for FY 2025-26 are filed under the Income-tax Act, 1961; returns for Tax Year 2026-27 onwards are filed under the Income-tax Act, 2025.
3. Eligibility
Choose the ITR form based on your income sources: ITR-1 (Sahaj) for resident individuals with salary, one house property, other sources and limited long-term gains under section 112A, within the income limit; ITR-2 for capital gains and other cases without business income; ITR-3 for business or professional income; ITR-4 (Sugam) for presumptive income; ITR-5, 6 and 7 for firms/LLPs, companies and trusts. Check the eligibility notes in the notified form for your year.
4. Documents required
- PAN and Aadhaar (linked)
- Form 16 from your employer
- Annual Information Statement (AIS) and Taxpayer Information Summary (TIS)
- Form 26AS
- Bank interest certificates
- Capital gains statements from brokers and mutual funds
- Rent receipts and home loan interest certificate (old regime claims)
- Investment proofs for deductions (old regime)
- Bank account details for refund (pre-validated)
5. Step-by-step procedure
- Log in to the e-filing portal with your PAN.
- Download and review AIS, TIS and Form 26AS; reconcile them with Form 16 and your records.
- Decide your tax regime (compare using ArthaKara's Income Tax Calculator).
- Go to e-File > Income Tax Returns > File Income Tax Return; select the year and filing mode (online).
- Select the ITR form; review pre-filled data and add missing income.
- Enter deductions (if under the old regime) and verify the tax computation.
- Pay any balance tax through e-Pay Tax (self-assessment tax) and enter the challan details.
- Preview and submit the return.
- E-verify using Aadhaar OTP, net banking, or bank/demat EVC within 30 days of filing.
6. Government portal
7. Government fees
No government fee for filing. Late fee applies for belated returns (up to Rs 5,000; Rs 1,000 where total income does not exceed Rs 5 lakh).
8. Relevant Act and sections
Sections 139, 140A, 234A, 234F, Income-tax Act, 1961; corresponding provisions of the Income-tax Act, 2025 (return of income: section 263) from Tax Year 2026-27.
9. Applicable Rules
Rule 12, Income-tax Rules, 1962 (prescribed ITR forms); corresponding Income-tax Rules, 2026.
10. Notifications and circulars
ITR forms are notified each year by CBDT. Check the notification for the relevant year on the e-filing portal.
11. Time limits and due dates
31 July (non-audit cases), 31 October (audit cases), 30 November (transfer pricing cases); belated/revised returns by 31 December. E-verification within 30 days of filing.
12. Common mistakes
- Not reconciling income with AIS, leading to mismatch notices
- Choosing the wrong ITR form
- Missing interest income from savings and fixed deposits
- Forgetting to e-verify the return
- Claiming old-regime deductions after choosing the new regime
- Not reporting exempt income and foreign assets where required
13. FAQs
Can I file after 31 July?
Yes, as a belated return by 31 December with a late fee.
What if I made a mistake?
File a revised return by 31 December (or before assessment is completed, if earlier).
14. Downloadable checklist
15. Last verified
Not yet verified by an ArthaKara reviewer.
- Filing within due date where filing is required
- Verification within the prescribed time
- Payment of self-assessment tax before filing
- Reconcile AIS a week before filing
- Keep proofs for at least eight years
- Pre-validate your bank account for refunds