Filing your Income Tax Return (ITR) is how you report your income to the department, reconcile the tax already deducted, and claim any refund you're owed. For most salaried people it's straightforward once you know what to gather and which choices to make.
Do you need to file?
You generally must file a return if your total income before deductions exceeds the basic exemption limit. Even if it doesn't, filing is worth it to claim a refund of excess TDS, to keep a clean financial record for loans and visas, or if you have certain high-value transactions.
Which ITR form applies?
Most salaried individuals use ITR-1 (Sahaj). You'll move to ITR-2 if you have capital gains, more than one house property, or foreign income. We pick and file the correct form for your situation so it isn't rejected.
Old vs new tax regime
This is the key decision each year:
- The old regime has higher slab rates but lets you claim deductions and exemptions (80C, 80D, HRA, home-loan interest, and more).
- The new regime has lower slab rates but removes most deductions.
Which one saves you more depends entirely on your deductions. We compare both and file under whichever lowers your tax for the year.
Deductions worth knowing
| Section | What it covers (examples) |
|---|---|
| 80C | PF, ELSS, life insurance, PPF, tuition fees, home-loan principal |
| 80D | Health-insurance premiums for you and your family |
| HRA | House Rent Allowance, if you pay rent and it's part of your salary |
| 80TTA | Interest on savings-bank accounts |
These apply under the old regime. Plan them through the year, not just at filing time — our tax planning guide and advisory can help.
Documents to keep ready
- Form 16 from your employer
- Form 26AS and the Annual Information Statement (AIS) to reconcile TDS and reported income
- Bank interest certificates and any investment proofs for deductions
- Details of any other income — capital gains, rent, or freelance work
Deadlines and verification
For most individuals not requiring an audit, the due date is generally 31 July of the assessment year (the department can extend it). Filing isn't complete until you e-verify the return — usually via Aadhaar OTP — so don't skip that final step.
File early. A last-minute return is more error-prone, and refunds are processed faster for returns filed and verified well before the deadline.
This guide is general information, current at the time of writing, and is not binding legal or tax advice. Statutory rules and government fees change — confirm what applies to your own situation with a chartered accountant before you act on it.