Who Must File ITR in India?
| Situation | Filing Required? |
|---|---|
| Income above basic exemption limit | Yes (mandatory) |
| TDS was deducted and you want refund | Yes |
| Foreign assets or foreign income | Yes (Schedule FA) |
| Deposits above ₹1 crore in bank accounts | Yes |
| Foreign travel above ₹2 lakh | Yes |
| Electricity consumption above ₹1 lakh/year | Yes |
| Income below limit but want to carry forward losses | Yes |
ITR Form Selection Guide
| Form | Who Should Use |
|---|---|
| ITR-1 (Sahaj) | Salaried individuals, pension, one house property, income up to ₹50L |
| ITR-2 | Multiple house properties, capital gains, foreign income, salary above ₹50L |
| ITR-3 | Business income + salary |
| ITR-4 (Sugam) | Presumptive business/professional income (44AD/44ADA) |
Key ITR Filing Deadlines 2026
| Category | Last Date | Penalty for Late Filing |
|---|---|---|
| Individuals (non-audit) | July 31, 2026 | ₹5,000 (₹1,000 if income <₹5L) |
| Audit cases (businesses) | October 31, 2026 | ₹5,000 |
| Transfer pricing cases | November 30, 2026 | ₹5,000 |
| Belated return (if missed) | December 31, 2026 | ₹5,000 + no carry-forward of losses |
Documents to Keep Ready Before Filing
- Form 16 (from employer — must be issued by June 15)
- Form 26AS / AIS (Annual Information Statement) from Income Tax portal
- Bank account statements for all accounts
- Investment proofs: 80C (PPF passbook, ELSS statement), 80D (insurance premium receipts)
- Home loan interest certificate and principal repayment certificate
- Rent receipts if claiming HRA
- Capital gains statements (for mutual fund/stock sales)
🧾 Calculate Your Tax
Use Tax Calculator →Q: Can I file ITR myself or do I need a CA?
For salaried individuals with standard income (salary + interest + HRA), ITR-1 is simple enough to self-file on incometax.gov.in in 30–45 minutes. Complex cases (capital gains, business income, multiple properties, foreign income) benefit from a CA. Filing yourself saves ₹500–₹5,000 CA fees.
Q: What is AIS and how is it different from Form 26AS?
AIS (Annual Information Statement) is the expanded version of Form 26AS. While 26AS shows TDS/TCS credits, AIS shows ALL financial transactions: salary, interest, dividends, mutual fund redemptions, property sales, GST data, and more. Always check AIS before filing ITR to ensure nothing is missed.
⚠️ Educational purposes only. Please consult a certified financial advisor for personalised advice.