Filing an income tax return (ITR) is a statutory obligation under the Income Tax Act 2025 for taxpayers with income above the basic exemption or meeting other specified criteria. ITA 2025 continues the 7-form ITR structure, with updated schedules reflecting new provisions.
ITR Form Selector
| ITR Form | Who Should File |
|---|---|
| ITR-1 (Sahaj) | Resident individuals with salary, one house property, other sources. Income ≤ Rs. 50 lakh. No capital gains, business income, or foreign assets. |
| ITR-2 | Individuals/HUFs with capital gains, multiple house properties, foreign assets/income, director, unlisted shares. No business income. |
| ITR-3 | Individuals/HUFs with PGBP (business/profession) income. Most freelancers, proprietary businesses, partners. |
| ITR-4 (Sugam) | Individuals, HUFs, firms on presumptive taxation (44AD, 44ADA, 44AE). Income ≤ Rs. 75 lakh (professional) or Rs. 3 crore (business). |
| ITR-5 | Firms, LLPs, AOPs, BOIs, artificial juridical persons. |
| ITR-6 | Companies (other than Section 8 companies — exempt from tax). |
| ITR-7 | Section 8 companies, trusts, political parties, research institutions — entities under Section 139(4A)-(4F). |
Due Dates for Filing
- Non-audit cases (individuals): 31 July of the following Tax Year
- Tax audit cases: 31 October
- Transfer pricing cases: 30 November
- Belated return: 31 December (late fee Rs. 5,000 or Rs. 1,000 for income below Rs. 5 lakh)
- Updated return (ITR-U): Within 2 years of end of Tax Year (additional tax of 25%/50%)
Pre-Filing Checklist
- Download Form 26AS and AIS from income tax portal
- Collect Form 16/16A from employers/deductors
- Reconcile AIS with actual income/deductions
- Compute capital gains for all transactions
- Verify bank account details for refund
- Link Aadhaar with PAN (mandatory for filing)
Mandatory Disclosures in ITR
- All bank accounts held in India (account number and bank)
- Foreign bank accounts, assets, and income (if applicable)
- Schedule VDA: Details of all VDA/crypto transactions
- Schedule FA: Foreign assets (for ROR residents)
- Directors' interests and unlisted shares held
Verification
ITR must be e-verified within 30 days of filing. Methods: Aadhaar OTP (most common), net banking, bank ATM, DSC, or send physical ITR-V to CPC Bengaluru by speed post.
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Frequently Asked Questions
Which ITR form is for salaried individuals?
ITR-1 (Sahaj) for income up to Rs. 50 lakh from salary + one house + other sources. ITR-2 if capital gains or foreign assets exist.
What is the due date for ITR filing?
31 July for non-audit individuals. 31 October for tax audit cases. 30 November for transfer pricing cases.
What is ITR-U?
Updated Return — filed within 2 years of Tax Year end to correct omissions/errors. Additional tax of 25% (filed within 1 year) or 50% (within 2 years) applies.
What happens if ITR is filed late?
Late fee of Rs. 5,000 (Rs. 1,000 if income below Rs. 5 lakh). Interest under 234A at 1% per month from due date. Most losses cannot be carried forward.
Is Aadhaar-PAN linking mandatory for ITR?
Yes. Aadhaar must be linked with PAN before filing ITR. Unlinked PAN faces higher TDS rates and cannot be used for e-verification.
How soon must ITR be e-verified?
Within 30 days of filing. Otherwise the return is treated as not filed.
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