Every year between April and July, the income tax department opens the filing window for individual taxpayers. For FY 2025-26 (Assessment Year 2026-27), the income tax department has kept the same regime structure introduced in Budget 2024, with a slightly higher standard deduction in the new regime and a few more sections rationalised. This guide walks you through the entire process — from identifying the right ITR form to tracking your refund — in plain language.
Whether you are a salaried employee, a freelancer, a business owner, or an NRI, the underlying mechanics of filing are similar. The differences lie in the form you choose, the documents you need, and the disclosures you make. Read this end-to-end if you are filing for the first time, or use the table of contents on the right to jump to your specific situation.
Key dates for FY 2025-26 (AY 2026-27)
The due date for filing a non-audit return is 31 July 2026. If your accounts are subject to a tax audit under Section 44AB, the due date is 31 October 2026. Transfer-pricing cases are due 30 November 2026. The belated / revised return window closes on 31 December 2026; after that you can only file an updated return under Section 139(8A) up to 31 December 2030 (with additional tax).
Tip: file before 31 July even if you cannot pay the full self-assessment tax. The late-filing fee under Section 234F is Rs 1,000 (if total income is below Rs 5 lakh) or Rs 5,000 — far cheaper than the loss of compounding on delayed refunds.
Which ITR form should I use?
Choosing the right ITR form is the single most important decision in the filing process. The form depends on (a) the sources of your income, (b) the nature of the entity (individual, HUF, firm, company), and (c) whether you are claiming a tax audit. The table below summarises the seven ITR forms available for AY 2026-27.
| ITR Form | Who should use it | Notes |
|---|---|---|
| ITR-1 (SAHAJ) | Salaried / pensioners / one house property / other sources ≤ Rs 50 lakh | Cannot have capital gains, business income, or foreign assets |
| ITR-2 | Individuals / HUFs with capital gains, multiple house properties, foreign income, or no business income | Common form for investors |
| ITR-3 | Individuals / HUFs with income from business or profession | Requires balance sheet & P&L if turnover exceeds threshold |
| ITR-4 (SUGAM) | Presumptive taxation under 44AD / 44ADA / 44AE | Cannot have capital gains, foreign income, or director's income from a company |
| ITR-5 | Firms, LLPs, AOPs, BOIs (not individuals or companies) | Common form for partnership firms |
| ITR-6 | Companies (other than those claiming Section 11 exemption) | E-filing mandatory |
| ITR-7 | Persons claiming exemption under Sections 139(4A), 139(4B), 139(4C), 139(4D) | Trusts, political parties, research associations, etc. |
If you are unsure which form applies to you, our ITR filing for salaried and ITR filing for business pages outline the most common scenarios. When in doubt, file under Section 139(1) using the form that covers all your income — a wrong form is treated as a defective return and you will be asked to revise.
Documents required
Before you log in to the income tax e-filing portal, keep the following documents ready. For salaried individuals, most of the data is auto-populated from Form 26AS and AIS (Annual Information Statement), but you still need the underlying proofs in case of a query.
- PAN and Aadhaar — must be linked before filing. Non-linkage attracts a fee of Rs 1,000 under Section 234H.
- Form 16 (salaried) — issued by your employer by 15 June.
- Form 16A / 16B / 16C — for TDS on other income (interest, rent, capital gains).
- Form 26AS and AIS — verify on the portal that all TDS matches your actual income.
- Bank statements for all accounts — for interest income and to substantiate Section 80C/80D investments.
- Capital gains statement from your broker / mutual fund registrar (CAMS / KFintech).
- Investment proofs — LIC / PPF / ELSS statements, health insurance receipts, home loan certificate, donation receipts.
- Home loan statement — split between principal (Section 80C) and interest (Section 24).
- HRA details — rent agreement, landlord PAN (if rent > Rs 1 lakh / year).
- Previous year ITR acknowledgement — required for carry-forward of losses.
New regime vs old regime — quick check
The new tax regime has been the default since AY 2024-25, but you can opt for the old regime in each year's ITR. The standard deduction in the new regime is Rs 75,000 (up from Rs 50,000) for FY 2025-26. Slabs under the new regime are 0% up to Rs 4 lakh, 5% from 4-8 lakh, 10% from 8-12 lakh, 15% from 12-16 lakh, 20% from 16-20 lakh, and 30% above Rs 20 lakh. A rebate under Section 87A makes the effective tax zero up to Rs 7 lakh (new) / Rs 5 lakh (old).
Use our free Income Tax Calculator to compare both regimes with your actual numbers. As a rough rule of thumb, if your total deductions under Sections 80C, 80D, 80CCD(1B), HRA, and home loan interest exceed Rs 3.75 lakh, the old regime is likely to save you more. Otherwise, the new regime usually wins.
Step-by-step filing process on the e-filing portal
- Log in to incometax.gov.in with your PAN and password. If you have not registered, do so first using PAN, name, DOB, and a one-time password to your registered mobile and email.
- Link Aadhaar if not already linked. From AY 2026-27 onwards, Aadhaar is mandatory for all individual filers.
- Pre-validate your bank account so that refunds can be credited without a separate validation step.
- Open e-File → Income Tax Returns and select AY 2026-27.
- Choose the ITR form from the dropdown. The portal will guide you based on your profile, but verify against the table above.
- Pre-fill data — the portal pulls Form 26AS, AIS, salary, interest, dividends, and securities transactions. Always reconcile with your own records.
- Fill in deductions under Chapter VI-A (80C, 80D, 80CCD, 80E, 80G, etc.).
- Verify the tax computation and pay any self-assessment tax using Challan 280 if there is a demand.
- Submit the return. You will be taken to the e-verification page.
- e-Verify using Aadhaar OTP (fastest), net banking, DEMAT, or by sending a signed physical ITR-V to CPC Bengaluru within 30 days.
Once verified, you will receive an acknowledgement with a 15-digit acknowledgement number. The income tax department usually processes refunds within 3-6 weeks for straightforward cases. Check our ITR Refund Status tool if the credit is delayed.
Common mistakes to avoid
- Mismatch between Form 26AS and Form 16 — reconcile before filing. Differences often arise because of bonuses paid in the next financial year or perquisites not reported in Form 16.
- Forgetting to report exempt income — PPF maturity, gratuity up to Rs 20 lakh, agricultural income below Rs 5,000 (per source), and dividend income up to Rs 10 lakh for resident individuals (under the new regime) must be reported even if exempt, in the exempt income schedule.
- Not reporting foreign assets — Schedule FA is mandatory for residents with foreign accounts, ESOPs, or immovable property. Non-disclosure is treated as a serious non-compliance.
- Choosing the wrong ITR form — ITR-1 cannot be used for capital gains, and using it incorrectly renders the return defective.
- Skipping the verification step — an unverified return is treated as not filed at all.
After you file — what to expect
Once verified, the department's Centralised Processing Centre (CPC) processes the return. You will receive an intimation under Section 143(1) — this either confirms your self-assessment or flags a mismatch. If there is a demand, you can pay it within 30 days or file a rectification under Section 154. If there is a refund, the same intimation will trigger a credit to your pre-validated bank account, usually within 3-6 weeks.
If your refund is delayed beyond 6 months, you can claim interest under Section 244A at the rate of 6% per annum by writing to the AO. For grievances that are not resolved at the CPC, the e-Nivaran and CPGRAM portals offer an escalation path.
Frequently asked questions
Can I file ITR without Form 16?
Yes. You can prepare your return using Form 26AS and your salary slips. Form 16 is a TDS certificate — it is the employer's responsibility to issue it by 15 June, but the absence of Form 16 does not prevent filing.
What happens if I miss the 31 July deadline?
You can file a belated return up to 31 December, but a late-filing fee under Section 234F applies (Rs 1,000 / Rs 5,000). Losses under most heads cannot be carried forward if the return is belated, and you may attract higher scrutiny.
Is e-verification mandatory?
Yes. Without e-verification, the return is treated as never filed. The simplest method is Aadhaar OTP — the OTP acts as your digital signature.
Do I need to file if my income is below the basic exemption limit?
Filing is mandatory if your gross total income exceeds the basic exemption. Even if it does not, filing is recommended to claim a TDS refund (e.g. on interest income where banks deduct TDS).
This article was written for educational purposes. Specific situations vary — for personalised advice, talk to a CA at ABMCO or use our ITR filing service.
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