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As you start earning money, you’ll likely come across the term “income tax.” So what exactly is it, and how to file ITR? Filing an ITR means submitting a detailed report of your income, expenses, liabilities, and deductions to the tax authorities. You can fill out your ITR using different forms like ITR-1, ITR-4, and others. This process ensures you are abiding the tax laws, helping you avoid penalties and interest for non-compliance. Timely ITR filing is recommended to confirm whether you owe any additional taxes or are eligible for a refund. It can also reflect on your creditworthiness and is often required for loans or visa applications.
Let’s discuss filing income tax return in India, the documents required, and everything you need to know while filing your taxes.
New Income Tax Filing for AY 2026-27 (FY 2025-26)
With the latest financial budget and the Income Tax Act, 2025 (effective April 1, 2026), several important changes have been implemented. Before filing taxes for AY 2026-27, one must know about the updated tax rates under both the Old and New Tax Regimes, the enhanced basic exemption limit under the New Tax Regime, and the revised Section 87A rebate limits.
Changes in Income Tax Slab Rates
Tax rates for individuals (resident or non-resident) less than 60 years of age at any time during the previous year are as under:
| New Tax Regime (Default from FY 2025-26) — All individuals regardless of age:
|
| Income Tax Slab
|
Income Tax Rate
|
| Up to ₹ 3,00,000
|
Nil
|
| ₹ 3,00,001 - ₹ 6,00,000
|
5% above ₹ 3,00,000
|
| ₹ 6,00,001 - ₹ 9,00,000
|
₹ 15,000 + 10% above ₹ 6,00,000
|
| ₹ 9,00,001 - ₹ 12,00,000
|
₹ 45,000 + 15% above ₹ 9,00,000
|
| ₹ 12,00,001 - ₹ 15,00,000
|
₹ 90,000 + 20% above ₹ 12,00,000
|
| Above ₹ 15,00,000
|
₹ 1,50,000 + 30% above ₹ 15,00,000
|
Tax rates for individuals (resident or non-resident) 60 years or more but less than 80 years of age at any time during the previous year are as under:
| New Tax Regime (Default from FY 2025-26) — All individuals regardless of age:
|
| Income Tax Slab
|
Income Tax Rate
|
| Up to ₹ 3,00,000
|
Nil
|
| ₹ 3,00,001 - ₹ 6,00,000
|
5% above ₹ 3,00,000
|
| ₹ 6,00,001 - ₹ 9,00,000
|
₹ 15,000 + 10% above ₹ 6,00,000
|
| ₹ 9,00,001 - ₹ 12,00,000
|
₹ 45,000 + 15% above ₹ 9,00,000
|
| ₹ 12,00,001 - ₹ 15,00,000
|
₹ 90,000 + 20% above ₹ 12,00,000
|
| Above ₹ 15,00,000
|
₹ 1,50,000 + 30% above ₹ 15,00,000
|
Tax rates for individuals (resident or non-resident) 80 years of age or more anytime during the previous year are as under:
| Income Tax Slab
|
Income Tax Rate
|
| Up to ₹ 3,00,000
|
Nil
|
| ₹ 3,00,001 - ₹ 6,00,000
|
5% above ₹ 3,00,000
|
| ₹ 6,00,001 - ₹ 9,00,000
|
₹ 15,000 + 10% above ₹6,00,000
|
| ₹ 9,00,001 - ₹12,00,000
|
₹ 45,000 + 15% above ₹ 9,00,000
|
| ₹ 12,00,001 - ₹15,00,000
|
₹ 90,000 + 20% above ₹12,00,000
|
| Above ₹ 15,00,000
|
₹ 1,50,000 + 30% above ₹ 15,00,000
|
Changes in Rebate Limits
Under the New Tax Regime (default from FY 2025-26), the tax rebate under Section 87A has been significantly enhanced. The rebate is available for total income up to ₹12,00,000, making income up to this limit effectively tax-free. Under the Old Tax Regime, the rebate remains available for total income up to ₹5,00,000, providing tax relief of up to ₹12,500.
Standard Deduction
The standard deduction for salaried individuals and pensioners is ₹75,000 under the New Tax Regime (default from FY 2025-26) and ₹50,000 under the Old Tax Regime. This deduction is available under both regimes and is automatically applied before computing tax liability.
Change in Default Tax Regime
The New Tax Regime continues to be the default tax regime from FY 2023-24 onwards, and remains the default under the Income Tax Act, 2025 (effective April 1, 2026). From FY 2025-26, the New Tax Regime features a revised basic exemption limit of ₹4,00,000 and a Section 87A rebate for income up to ₹12,00,000. If you wish to opt for the Old Tax Regime, you must submit Form 10-IEA at the time of filing your income tax return. Salaried employees must also inform their employer of their regime choice at the beginning of the financial year to ensure correct TDS computation.
Steps to File an ITR Online
Filing your Income Tax Return (ITR) online simplifies tax submission, streamlines the process, and ensures timely and accurate reporting. Follow these steps:
- First, you must log in to your account using your username, password, date of birth, and Captcha Code.
- You must then select either Form ITR1 or ITR 4 and the assessment year for which you want to file the return
- Once you select the appropriate form, you must complete all the relevant details and then click on the ‘submit’ tab
- When applicable, you may upload the Digital Signature Certificate (DSC); you must ensure that the DSC is registered with the e-filing website
- On successful submission, ITR-V is displayed (when you do not use the DSC); click on the link to download the ITR-V, which is also sent to your registered email address
- The ITR-V must be printed, signed, and sent to the Central Processing Cell (CPC) within 120 days from the date of e-filing; your return is processed only after the CPC receives a duly signed ITR-V
- If you use the DSC for the ITR filing process, you do not have to download the ITR-V
Information to be Filled While Filing ITR Online
When filing an ITR online, you must fill out the following information; remember that the information must be true to your best knowledge:
- Personal information such as your full name, PAN, father’s name, and complete date of birth
- Income details, including the name of all your employers during the assessment year and type of employer. Additionally, you must input your salary and the details for the Tax Deducted at Source (TDS). You must provide a detailed breakup of your salary.
The Income Tax Act includes certain provisions for claiming deductions which reduce your tax liability. If you are filing under the Old Tax Regime, you must provide information about all your investments such as life insurance premiums, Public Provident Fund, ELSS, NSC, etc. Deductions are available under Section 80C (Section 123 of the Income Tax Act, 2025, effective April 1, 2026) up to ₹1,50,000 for various investments, available only under the Old Tax Regime. Section 80TTA allows deductions up to ₹10,000 on interest earned on savings bank accounts, also available only under the Old Tax Regime. For senior citizens, Section 80TTB provides a deduction of up to ₹1,00,000 on interest income from savings accounts, fixed deposits, and post office schemes (enhanced from ₹50,000 per Budget 2025), available only under the Old Tax Regime. Under the New Tax Regime, these deductions are not available, but the higher basic exemption limit and lower slab rates apply.
- Details of tax paid for any non-salary income you earn during the financial year. This may include interest or earnings from freelance work. The tax payments towards such income must be input; these details may also be uploaded through Form 26AS.
- You must provide the bank details to complete the process of ITR filing online. You should include all your bank accounts and provide details about the primary account.
- After completing the aforementioned information, if you see ’no tax due’ or ’refund’ intimation, you may complete the e-filing process to receive acknowledgment on submission. If you get a message saying ’tax due,’ you must follow the instructions to pay the same before the ITR filing process.
Guide on How to File ITR Offline for Super Senior Citizens
During the financial year, super senior citizens (those aged 80 or above) can file ITRs offline using paper forms. If an individual or HUF has an income of less than ₹5,00,000 and is not eligible for a refund, the ITR may also be filed offline. Super senior citizens should note that under the New Tax Regime (default from FY 2025-26), the basic exemption limit is ₹4,00,000 for all individuals regardless of age, and the Section 87A rebate is available for income up to ₹12,00,000. Under the Old Tax Regime, super senior citizens continue to enjoy a higher basic exemption limit of ₹5,00,000. They should evaluate both regimes before filing to choose the most tax-efficient option.
This step-by-step procedure to file returns offline is mentioned below
- After that, the ITR returns must be submitted in paper form to the Income Tax Department.
- You will receive an acknowledgment slip from the Income Tax Department once the form has been submitted.
Documents Required for Filing ITR
You will need the following documents while filing ITR1:
- Aadhaar Card
- PAN Card
- Bank Statements
- Form 16
- Donation receipts
- Stock trading statements from the broker platform
- Insurance policy paid receipts related to life and health
- Bank account information linked to PAN
- Aadhaar registered mobile number for e-verifying the return
- Interest certificates from banks
Conclusion
Keep in mind the significant updates for FY 2025-26 — the New Tax Regime is now the default with a revised basic exemption limit of ₹4,00,000, a Section 87A rebate for income up to ₹12,00,000, and a standard deduction of ₹75,000 for salaried individuals and pensioners. Under the Income Tax Act, 2025 (effective April 1, 2026), Section 80C deductions have been restructured as Section 123. Most Chapter VI-A deductions remain available only under the Old Tax Regime. Double check which regime suits your income profile and saves you more on tax before filing. Ensure timely ITR filing to avoid penalties and additional charges. Use the steps discussed above and file your income tax return accurately and on time.
FAQs on How to File Income Tax Return
1
Who needs to file an income tax return?
The following people and businesses need to file an income tax return:
- All individuals, up to 59, whose total income for a financial year exceeds ₹2.5 lakh. For senior citizens (aged 60-79), the limit increases to ₹3 lakh; for super senior citizens (aged 80 and above), the limit is ₹5 lakhs.
- All registered companies.
- Those who wish to claim a refund.
- Individuals who have assets or financial interest entities that are located outside India.
- NRIs who earn or accrue more than ₹2.5 lakh in India in a single financial year.
2
How do I determine which ITR form to use?
You can determine which ITR form to use with the following information:
- ITR-1- Applicable for Individual: This return applies to a Resident (other than Not Ordinarily Resident) Individual with total Income from any of the following sources up to ₹50 lakh.
- Salary / Pension
- One House Property
- Other sources (Interest, Family Pension, Dividend, etc.)
- Agricultural Income up to ₹5,000
- ITR-2 - Applicable for Individual and HUF: This return is applicable for Individual and Hindu Undivided Families (HUF):
- Not having Income under the head Profits and Gains of Business or Profession
- Who is not eligible for filing ITR-1
- ITR-3- Applicable for Individual and HUF: This return is applicable for Individual and Hindu Undivided Family (HUF):
- Having Income under the head Profits and Gains of Business or Profession
- Who is not eligible for filing ITR-1, ITR-2 or ITR-4
- ITR-4- Applicable for Individual, HUF, and Firm (other than LLP): This return is applicable for individuals or Hindu Undivided Family (HUF) who are residents other than Not Ordinarily Resident or a Firm (other than LLP) having a total Income up to ₹50 lakhs and having income from business or profession which is computed on a presumptive basis (u/s 44AD / 44ADA / 44AE) and income from any of the following sources:
- Salary / Pension
- One House Property
- Other sources (Interest, Family Pension, Dividend, etc.)
- Agricultural Income up to ₹5,000
3
What is the deadline for filing an income tax return?
The due date for filing an income tax return is 31st July for individuals and 31st October for taxpayers whose accounts are subject to audit.
4
How can I file my income tax return online?
You can file your income tax return online by following these steps:
- Step 1 - Go to the Income Tax e-filing website
- Step 2 - Register or Log in to the website
- Step 3 - Enter the required details
- Step 4 - Select the mode of Filing
- Step 5 - Select the status
- Step 6 - Select the appropriate ITR form
- Step 7 - If you select ITR 1
- Step 8 - If you select ITR 4
- Step 9 - Summary of tax computation
- Step 10 - Proceed to validation and submit the ITR
5
Can I file my tax return if I missed the deadline?
Yes, you can file tax return after the deadline however, a late filing fee and interest will be applicable. Penalty regarding additional taxes is also applicable in case of updated return.
6
How do I check the status of my income tax return?
To check the status of your income tax return:
- Click on the e-filing homepage
- Click view ITR status
- Enter the ITR acknowledgment number and a valid mobile number
- You will be able to view the status of your e-filing account.
7
What are the consequences of not filing an income tax return?
If you owe more than ₹25,000 to the government, you may face imprisonment for 6 months to 7 years. If you owe less than ₹25,000, you may face imprisonment for 3 months to 2 years and a fine.
8
Can I claim deductions or exemptions on my tax return?
Yes, you can claim deductions on tax returns for investments such as Employee Provident Fund (EPF), Public Provident Fund (PPF), National Savings Certificate (NSC), and life insurance premiums.
