Use Code: ITR40
File ITR Today
An Income Tax Return (ITR) is a form used to report your income, deductions, taxes paid, and tax liability to the Income Tax Department. Taxpayers can file ITR for FY 2025-26 (AY 2026-27) online through the income tax e-filing portal or platforms like Tax2win by entering income details, claiming deductions, and verifying the return. This guide explains the complete ITR filing process, required documents, latest updates, and important rules taxpayers should know before filing.
An Income Tax Return (ITR) is a form filed by taxpayers with the Indian Income Tax Department to report their income, deductions, taxes paid, and tax liability for a financial year. Filing an ITR helps individuals and businesses declare their earnings, claim refunds, carry forward losses, and stay compliant with income tax laws.
Individuals are required to pay income tax on their salary or wages, as well as on other forms of income such as interest, dividends, rental income, business profits, and capital gains. Corporations are also required to pay income tax on their profits.
ITR contains all the details of incomes and tax-saving investments an individual does in a particular financial year. The tax department has notified 7 types of ITR forms i.e. ITR 1, ITR 2, ITR 3, ITR 4, ITR 5, ITR 6, ITR 7 for filing Income Tax returns (Forms are relevant for individuals, companies, firms, etc.).
In India, there is a general practice that if you are a citizen with a gross income that exceeds the basic tax exemption limit, i.e., 2,50,000 (old regime) & Rs.4,00,000 (new regime), subject to certain conditions, you must file an Income Tax Return (ITR). If your income doesn’t exceed the basic exemption limit during the year, you’re not legally bound to file your return. But it’s still recommended that you file your return because of the benefits that come with filing an income tax return:
The ITR filing due date for FY 2025-26 is 31st July 2026 (for ITR-1 & ITR-2), 31st August 2026 (for ITR-3 & ITR-4). ITR filing on the due date is essential to comply with tax laws, avoid penalties, claim timely refunds, maintain accurate financial records, and facilitate financial transactions. It is advisable to prioritize timely filing to stay in line with regulatory requirements and avoid unnecessary complications.
However, for the people who fall within the limits of a tax audit, the due date is 31st October, and in the case where transfer pricing is applicable, the due date is 30th November after the end of the financial year.
Note: Persons who fall within the limits of Tax Audit are:
Read more here.
Every Indian, including an NRI, is required to file an Income tax return where Total Income exceeds the basic exemption limit. Under the Old Tax Regime (Opt-in), the basic exemption limit for filing an Income Tax Return (ITR) varies based on age categories. For individuals below 60 years, the threshold is set at Rs. 2.5 lakh. Senior citizens aged 60 to 79 years have an increased exemption limit of Rs. 3 lakh, while super senior citizens, those aged 80 years and above, benefit from an exemption limit of Rs. 5 lakh. In contrast, the New Tax Regime (Default) offers a simplified structure, setting the exemption limit at Rs. 4 lakh for both individuals below 60 years and senior citizens.
You are required to file a return irrespective of whether you have paid tax or not. So, even if the employer has deducted TDS in full, you are still required to file an income tax return.
However, there are certain conditions, other than income above the Basic Exemption Limit, due to which a person would be mandatorily required to file an ITR!
Such conditions are :
If an individual has Income from foreign assets or is a beneficiary of an asset located in a foreign country.
Although documents differ from the income source, there are still a few documents that are common while filing an ITR. Also, note that you do not need to submit/upload any of the documents on the website; these are advised to be kept with you so that required information can be filled in correctly, your time is saved, and common errors can be avoided)
Check the complete list of documents for ITR filing when you have income from salary, house property, capital gains, and other sources. Having these documents ready ensures a smoother ITR filing experience.
The income tax department provides the facility for e-filing an income tax return. But before filing the ITR, a few points need to be considered:-
To file the income tax return online, just visit the ITR e-filing website.
Step 1: Log in to the e-filing portal using your user ID and password.
Step 2: On your Dashboard, click on “File Now”.
Step 3: Select Assessment Year as 2026-27 and Mode of filling as online, then click continue.
Step 4: In case you have already filled the Income Tax Return and it is pending for submission, click Resume Filing. In case you wish to discard the saved return and start preparing the return afresh, click Start New Filing.
Step 5: Select Status as applicable to you (individual, HUF or others) and click Continue to proceed further.
Step 6: Select the ITR Form that you want to file from the dropdown.
Step 7: Once you have selected the ITR applicable to you, note the list of documents needed and click Let’s Get Started.
Step 8: Select the checkbox applicable to you regarding the reason for filing ITR and click Continue.
Step 9: Click on the Personal Information tab and verify your personal details, contact details and bank account details.
Step 10: The section is divided into three sub parts, personal information, filing section and bank details. Review the pre-filled details in each section and edit the information wherever necessary. Here you can select the type of return you are filing and also switch from old to new and vice versa (if eligible). Once done, click on confirm. You will be redirected to the return summary page.
Step 11: After confirming the above details, click on the total deductions tab. This shows the details of all the deductions available. If you have any deductions that you want to claim, you can review and edit your deduction details and click on confirm. Once confirmed, you will be redirected to the return summary page.
Step 12: Now, click on the tax paid tab. Review the details of taxes already paid, like self-assessment tax, TDS deducted, advance tax etc. Edit the details if necessary and click on confirm.
Step 13: After confirming the details, you will be redirected to the return summary page. Now click on the tab ‘Verify your tax liability details’. Here you can see your tax computation, total interest and fee, total tax payable or refund due (if any). You can also add relief u/s 89A (if applicable). Once done, click on confirm.
Step 14: After confirming all the details, click on Proceed to verification. Now, you will be shown a summary of your tax return.
If there is no tax liability
In case there is a tax liability
After clicking on total tax liability, you will be shown a summary of your tax computation based on the details provided by you. If there is tax liability payable based on the computation, you will get the Pay Now and Pay Later options at the bottom of the page.
It is recommended to use the Pay Now option.
If you opt to Pay Later, you can make the payment after filing your Income Tax Return, but there is a risk of being considered as a taxpayer in default, and liability to pay interest on tax payable may arise.
Step 15: If you don’t have any tax liability
Simply click on Preview and Submit your return. You will be shown a preview of your return. Check all the details, and if everything is correct, click on Proceed to Validation. If you need to correct anything, you can click on back and go to the previous pages to make changes.
If you have Tax Due
If you click on “Pay Now,” you will be redirected to the e-pay Tax page. Click Continue
On the next page, you will see the tax breakup details such as tax due, surcharge, cess, interest, etc.
After clicking on continue, you will be redirected to the payment details page, where you can select the mode of payment and complete your tax payment successfully.
Next, you will be redirected to the return summary page. Here, click on Tax paid.
On the next page, enter the challan number and BSR code and click on save.
Review the details and click on confirm.
After clicking on confirm, you will be redirected to the computation page. Verify all the details and click on ‘preview and submit the return’.
Step 16. Now, click on Proceed to verification.
Step 17. On the next step, select whether you want to e-verify now ot later and click on continue.
Note: It is recommended to e-verify immediately, as you must e-verify your ITR within 30 days of filing for it to be valid.
Step 18. You will receive an OTP on your registered mobile number. Upon entering the OTP, your ITR will be filed successfully.
Tax2win offers two types of ITR filings:-
DIY (Self-filing)- If you have a little bit of knowledge about taxes, entering some basic details will let you file the ITR within 4 minutes. Tax2win DIY platform is AI-integrated, hence it will auto-select the right ITR form for you itself and thus makes filing super-easy for you. The user interface is friendly and easy. Hands-on today to file ITR for FY 2024-25 and e-verify on time.
If you are wondering how to file an ITR with Tax2win, here are some simple steps you need to follow -
Step 1: Either sign in to the tax2win website using your existing credentials or sign up to the portal and create an account. You can do self-filing only in the case of income from salary, business, and capital gains. Click on “File ITR Now”.
Step 2: After logging in, a table consisting of all the possible sources of income opens. You need to select the income sources that you have. Based on your sources of income, Tax2win’s DIY ITR filing system selects the applicable ITR form automatically.
Step 3. You need to upload Form 16. In case you don’t have Form 16, you can simply skip the option and proceed further.
Step 4. Select the F.Y. and enter the PAN Details and DOB. (If you don’t have a registered account with the Income Tax Department, you will receive an OTP and a new account will be created.). You can also choose if you want our DIY software to fetch your personal details and get data pre-filled.
Step 5: Enter a few basic details in the next step. Some of it is pre-filled from the Income Tax Department’s database. Remember to cross-check the information available. As shown in the image given below, you have to enter your personal details like name, email ID, date of birth, father’s name, gender, etc.
Step 6: In the next step, you have to provide your address details and employer category. You can refer to the image below to understand this better.
Step 7: In the next step, you have to fill in your employment details. The standard deduction is applied automatically in the case of salaried employees. As shown in the image below, you have to enter your gross salary/CTC, exempted allowances like HRA, LTA, gratuity, net salary, and standard deduction and professional tax under section 16. Note that if you have uploaded Form 16, your employment data will be pre-filled in the ITR Form. All you have to do is verify the information and proceed to file ITR.
Step 8: If you have capital gains income, you need to select ‘Income from capital gains (shares, Mutual Funds, Property, etc) while selecting the source of income. Navigate to the ‘Capital Gain Income’ tab from the top of the page and upload the P&L statement.
Here’s an example of how to upload the Groww P&L statement -
Note: If your brokerage or fund house is not supported, you can upload your details using the Tax2win Template.
Here’s how to download the Tax2win template -
Step 9: Enter the details of the investment made during the year to calculate the applicable deductions. You have to enter details of investments in PPF, LIC, PF, housing loan, FDR, NSC, tuition fees, premiums paid to the annuity, and other 80C deductions. Also, you can claim deductions like 80D, 80CCD (1B), 80G, etc.
Step 10: In this step, you are required to enter your bank details. Enter your IFSC code, name of the bank, account number, and Aadhaar details. As per government law, it is mandatory to show all the bank details. You can select one account as the primary account. Remember, you will get a tax refund in your primary bank account.
Step 11: In this step, you have to upload Form 26AS, and your TDS details will be auto-populated. If you don’t have Form 26AS, you can skip it and fill in the details manually before filing your ITR. If you have paid the tax, select yes on Advance Tax and self-assessment tax paid, enter the challan details, and click on Continue.
Step 12: Select the return filing type. If it is your first time filing ITR for the relevant assessment year, then select original return and click on continue.
Step 13: Based on the information given by you in the previous sections, the software automatically computes your tax liability using both the old and the new regime. You can compare both regimes and select the one that is more beneficial for you.
Step 14: You can use any of the methods mentioned above to e-verify your ITR. If you have already e-verified your ITR, click on Already e-verified.
Step 15: A code will be sent to the mobile number linked to your Aadhaar. Enter the EVC and verify your return. You also have the option to change the e-verification method here.
Step 16: Once you enter the EVC, your ITR will be e-verified successfully.
The second way through which you can file ITR on Tax2win is:-
Step 1. Click on Book eCA Now.
Step 2. Either sign in to Tax2win or register yourself on Tax2win by creating an account.
Step 3. Choose from where your income is and click on next.
Step 4. Select how many employers you have and click on next.
Step 5. Select if you have business or professional income and click on next.
Step 6. Select if you own a house or not and click on next.
Step 7. Select if you have any income from capital gain or not and click on next.
Step 8. Tax2win’s AI-integrated software automatically suggests the most suitable plan based on your needs. You can pay the fees and connect with an eCA to get a smooth ITR filing experience. If you have any other queries, you can also get in touch with our customer support executive at the number given on the website.
Click here to learn more about ITR filing with Tax2win.
Once you are done with the e-filing of your income tax return, you must:-
Note:- Verification of an ITR is an important step without which your return filing process is not completed. If you fail to verify your ITR within the time limit (30 days), it shall be considered “Invalidate,” i.e., null and void. It means that no Income Tax Return has been filed at all.
File your Income Tax Return with absolute ease with us in just 3 steps:
You can learn more about Form 16 here.
Having taxable income and not filing an income tax return can put you in trouble with the Income Tax Authorities. Be prepared to welcome notices from the Income Tax Department along with fines and penalties. The consequences of non-filing of return are:
Now that you know how to file an ITR online you must also be aware that there are various methods to save tax while filing an ITR. But, making the most of these deductions and exemptions requires proper planning. Therefore, it is recommended to take help from tax experts who can help you save your hard earned money.
Yes, you can file an Updated Return (ITR-U) for the Assessment Year (AY) 2022-23 if you missed filing it initially. The Income Tax Department allows taxpayers to file ITR-U within 4 years end of the relevant assessment year. Therefore, you can file ITR-U for AY 2022-23 until March 31, 2027.
Well, even if one misses the due date, they can still file the Late/Belated Return. A belated income tax return can be filed three months prior to the relevant assessment year. You can file the ITR of FY 2025-26 (AY 2026-27) as a belated return till 31st December 2026.
If you do not have Form 16, you can use other documents to calculate your income earned, such as salary slips, bank statements, and investment statements & other documents to calculate your total income and for taxes paid. Furthermore, you can also get information about your TDS and TCS via Form 26AS. and it can be downloaded from TRACES via the Income tax portal.
You can e-file your Income Tax Return even if you do not have Form 16 with you. You need to fill in the required details in the software and submit the ITR at the end.
You are required to complete the verification process by either signing it manually or electronically within 30 days from the date of filing your income tax return. You can find out the details here to know the step by step process for both modes.
There are various methods to e-verify ITR:
Check the complete guide on e-verification.
With a view to improving tax compliance and effective utilization of information in tax administration, it is important that returns are filed within the due dates. Keeping this in view, the law imposes certain fees u/s 234F in case the returns are not filed on time; these are as under:-
NOTE:- In case the total income is up to 5 Lacs, then the penalty amount will be Rs. 1,000 in all cases, irrespective of timing the filing of your return after the due date.
The last date for filing tax returns for FY 2024-25 has already passed. However, you can still file updated return, for which the last date is 31st March 2028.
Offline mode is only available for Super Senior Citizens (individuals whose age is 80 years or more during the financial year) and whose income is less than Rs 5 lakh per year and who do not have to claim a refund in the return. However, paper returns can be filed by those above 80 years of age who do not have any income from regular business or professional income.
You can easily calculate your tax by using our Income Tax Calculator. Here you just need to fill in the required information in an orderly manner and at last, you will get the amount required to be paid as tax.
Every individual can pay taxes by Online or Offline method stated by the Income Tax Department. Please refer to this link to know more details about it.- https://tax2win.in/guide/online-income-tax-payment
Normally, it takes 20-50 days to get your refund after filing your Income Tax Return. You can track the live refund status from here.
As per Section 139(5) of the Income Tax Act, taxpayers can file a revised return to rectify the mistake made while filing an ITR. A Tax return can be revised 3 months prior to the relevant Assessment year for which the return is filed, i.e., revised/belated return can be filed upto 31st Dec subject to date extension. For 2025-26 (AY 2026-27) revised/belated returns can be filed upto 31st Dec 2026.
Yes, you are required to file your tax return even though TDS has been deducted by your employer, provided your income exceeds the basic exemption limit. Further, You can not claim excess taxes paid as a refund without filing your tax return.
No, documents are not required to be attached/ uploaded but it is advised to keep them with you. They may be asked by income tax authorities if any assessment notice is serve to you in the future.
If you have not filed your return by the due date, i.e., 31st July 2025, then you can file a belated return upto 31st Dec 2025.
Yes, as per section 139(1) of the Income Tax Act, 1961, every individual is required to file an income tax return if their income exceeds INR 2,50,000. So, if your income is INR 5 lakhs, then you are required to file an ITR, even if no taxes are required to be paid.
ITR-2 is applicable to all those individuals and HUFs whose earnings are from salary, house property, capital gains, and other sources but not from business income. Hence, you are required to file ITR-2.
An NRI is only required to file a return if he has earned or received any income in India. If there is no income in India, an NRI is not required to file income tax returns. But NRI must file their return if they want to claim a refund for the excess taxes paid and carry forward the losses.
If small shopkeepers have a turnover of up to Rs. 3 crores, then they can file their return under the presumptive scheme under section 44AD.
You can file ITR-1 even if you have two employers in a single financial year; provided income does not exceed INR 50 lakhs. ITR-2 is required to be filed by those individuals and HUFs whose earnings are from salary, house property, capital gains and other sources.
You are required to either e-verify your return or send it to CPC, Income Tax Department, Bengaluru, within 30 days of filing the return, failing to do so will result in invalidation of the return, which means the return will be considered as having never been filed. You can file a belated return if you have not verified your return in the stipulated time but it will be filed with the penalty applicable u/s 234F.
Yes, the buyer of a car can claim TCS in his return.TCS is deducted by the seller of the car if the car value is Rs 10 lakhs. Any amount paid as taxes by the taxpayers can be verified with Form 26AS and can be claimed while filing the tax return. If no taxes are required to be paid while filing the return, you can claim a TCS refund from the government.
Default User id for the income tax E-filing Website is your PAN no. if you have forgotten your password, you can reset it by clicking on forgot password link provided on the login page itself and following the steps.
You can file a revised return if there is any mistake in the return that is observed by you even though the refund has been claimed by you.
In case you don’t have a surname you can show your first name directly in the surname field since the first name field is not mandatorily required.
Yes, it is necessary to report intraday trading losses for income tax. Intraday trading is considered a speculative activity and should be reported as a business income.
BSR code and challan number are just the receipts from the bank that you have paid the tax. If you have already filed your income tax return (ITR) and paid the tax, there is no point in you having outstanding tax. However, if you have some tax outstanding, and you have received the demand notice, then it can be rectified by correcting the BSR code and challan number. If no taxes were paid, then you can pay the tax.
Normally to file an income tax return, one is required to provide income tax credentials with the concerned CA but with tax2win you can file your return without sharing your income tax ID and password.
No, for filing the income tax return as an NRI you need not mention your income from abroad. Only the incomes accrued or earned in India are to be mentioned in the income tax return. Only incomes from India are taxable.
Yes, if any deduction or allowances has been skipped to be claimed in Form No 16, the tax filer can still claim the same while filing his/her income tax return.
