What it is
ITR-1 (Sahaj) for resident individuals with salary, one house property and income up to ₹50 lakh.
ITR-2 where capital gains or foreign assets exist; ITR-3 for business or professional income; ITR-4 (Sugam) for presumptive income.
ITR-5 for LLPs and firms, ITR-6 for companies, ITR-7 for trusts.
Who it applies to
- Filing is mandatory where income before deductions exceeds the basic exemption limit.
- Also mandatory in specified cases regardless of income — foreign assets, high-value deposits, large electricity spends or foreign travel expenditure.
Documents required
- •PAN and Aadhaar (must be linked)
- •Form 16 from every employer
- •Form 26AS, AIS and TIS downloaded from the portal
- •Bank interest certificates and capital gains statements
- •Deduction proofs — 80C, 80D, home loan interest, donations
Step-by-step process
- 1
Log in and download AIS
Log in at incometax.gov.in and download Form 26AS, AIS and TIS before you start. These show what the department has already recorded against your PAN.
- 2
Pick the correct ITR form
Filing on the wrong form makes the return defective under section 139(9) and forces a revision.
- 3
Compare old and new regime
The new regime is the default. Run both computations — with large 80C, 80D and home loan interest claims the old regime can still win.
- 4
Reconcile and correct pre-filled data
Fix salary, interest and dividend figures that do not match your records, and submit feedback in AIS for entries that are wrong.
- 5
Pay any balance tax
Pay self-assessment tax with the correct assessment year and challan type before submitting.
- 6
Submit and e-verify within 30 days
Verify through Aadhaar OTP, net banking or a pre-validated bank account. An unverified return is treated as never filed.
Fees and timeline
Government fees
No filing fee. A late filing fee of ₹5,000 applies under section 234F (₹1,000 where total income is up to ₹5 lakh).
Typical timeline
Due date is generally 31 July for non-audit cases and 31 October where a tax audit applies. Belated and revised returns are allowed until 31 December.
Common mistakes and rejection reasons
- Not e-verifying within 30 days, making the return invalid.
- Mismatch between the TDS claimed and Form 26AS.
- Ignoring AIS entries for interest, dividend or securities transactions.
- Choosing the wrong ITR form for capital gains or presumptive income.
- PAN not linked with Aadhaar, which makes PAN inoperative and blocks refunds.
Frequently asked questions
What is the penalty for late ITR filing?
₹5,000 under section 234F, reduced to ₹1,000 if total income does not exceed ₹5 lakh, plus interest under sections 234A, 234B and 234C.
Can I switch between old and new tax regime?
Salaried taxpayers without business income can choose each year; those with business income can switch back only once.
How long does an income tax refund take?
Usually 2 to 6 weeks after successful e-verification, provided the bank account is pre-validated.
Do it with help, or do the maths first
More in Income Tax
This guide is general information on public compliance procedures and is not professional advice for your specific facts. Government fees and timelines change; verify on the official portal before filing.