Income Tax Return E-Filing

ITR filing is mandatory for:

1. Individuals
• Earning above the basic exemption limit (₹2,50,000 for individuals below 60 years).
• Having income from more than one source (e.g., salary, house property, or capital gains).
• Wanting to claim a refund of excess tax paid.
• Holding foreign assets or earning income outside India.
2. Businesses and Professionals
• Companies, LLPs, and professionals irrespective of income levels.
• Entities required to file under presumptive taxation schemes.
3. Others
• NRIs with taxable income in India.
• Individuals whose income includes tax deducted at source (TDS).

There are various ITR forms based on the type of taxpayer and income sources:

1. ITR-1 (Sahaj): For individuals with income up to ₹50 lakh from salary, one house property, and other sources.
2. ITR-2: For individuals and HUFs not having income from business or profession.
3. ITR-3: For individuals and HUFs with income from business or profession.
4. ITR-4 (Sugam): For individuals, HUFs, and firms under presumptive taxation.
5. ITR-5: For partnership firms, LLPs, AOPs, BOIs, and others.
6. ITR-6: For companies except those claiming exemption under Section 11.
7. ITR-7: For entities like trusts, political parties, and NGOs.

1. PAN and Aadhaar Card.
2. Bank statements.
3. Form 16 (for salaried individuals).
4. Form 26AS and AIS/TIS.
5. Proof of deductions (e.g., under Section 80C, 80D).
6. Investment proofs.
7. Details of foreign assets (if applicable).

1. Determine the Applicable Form: Based on your income source and category.
2. Gather Documents: Ensure all income and deduction proofs are ready.
3. Log in to the Income Tax Portal: Use your PAN/Aadhaar.
4. Fill in Details: Enter income, deductions, and tax paid.
5. Verify Tax Payable: Check for any tax due or refund claim.
6. E-Verify: Complete the process via OTP or Aadhaar authentication.

1. For Individuals and HUFs: July 31 of the assessment year.
2. For Businesses Requiring Audit: September 30.
3. For Other Entities: Varies by category.

1. Claiming Refunds: For TDS or excess taxes paid.
2. Document of Income: Useful for loans, visas, and financial planning.
3. Avoiding Penalties: Late filing can attract penalties under Section 234F.
4. Compliance Benefits: Avoid notices from the tax department