Filing your ITR is not just a legal obligation — it's one of the smartest financial moves you can make. It builds your credit history, enables faster loan approvals, and often gets you a tax refund you didn't know you were owed.
This step-by-step guide covers everything you need to file your ITR for FY 2025-26 (Assessment Year 2026-27) — which form to use, documents needed, and how to get your refund quickly.
Important Dates — Don't Miss These
| Date | Event |
|---|---|
| April 1, 2026 | New financial year begins |
| July 31, 2026 | Last date to file ITR for FY 2025-26 (without penalty) |
| December 31, 2026 | Belated return deadline (₹5,000 penalty) |
| March 31, 2027 | Updated return deadline |
Step 1 — Gather Your Documents
Mandatory Documents:
- ✅ PAN Card
- ✅ Aadhaar Card (linked to PAN)
- ✅ Form 16 (from your employer — issued by mid-June)
- ✅ Bank account statement (January–March 2026)
- ✅ Form 26AS (auto-downloaded from tax portal)
If applicable:
- Form 16A (TDS certificate for interest income)
- Investment proofs (80C — ELSS, LIC, PPF etc.)
- Home loan interest certificate
- Capital gains statement from your broker
Step 2 — Which ITR Form to Use?
| ITR Form | Who Should Use It |
|---|---|
| ITR-1 (Sahaj) | Salaried, income below ₹50 lakh, one house property. Most salaried Indians use this. |
| ITR-2 | Salaried with capital gains from stocks/mutual funds or more than one property |
| ITR-3 | Business or professional income along with salary |
| ITR-4 (Sugam) | Self-employed under presumptive taxation (44AD/44ADA) |
Most salaried employees → ITR-1. Sold stocks/mutual funds in FY 2025-26 → ITR-2.
Step 3 — Login to Income Tax Portal
- Go to incometax.gov.in
- Click Login → Enter your PAN as User ID
- Enter your password (first time → click Register)
- Verify with OTP sent to your registered mobile
Step 4 — Check Form 26AS and AIS
Before filing, always check these two documents. They show what the government already knows about your income.
- Form 26AS: Login → My Account → View Form 26AS → shows TDS deducted by employer and banks
- AIS (Annual Information Statement): Login → Services → Annual Information Statement → shows all income sources
Compare these with your records. If there's a mismatch, correct it before filing — mismatches trigger scrutiny notices.
Step 5 — Start Filing Your ITR
- Login → e-File → Income Tax Returns → File Income Tax Return
- Select Assessment Year 2026-27
- Select Online mode
- Select your ITR Form (ITR-1 for most salaried)
- Select Filing Type → Original Return
The portal will pre-fill most of your data from Form 26AS and AIS. Verify each section carefully.
Step 6 — Choose Your Tax Regime
New Regime (default): No deductions except standard deduction. Simple, lower rates for most people.
Old Regime: All deductions available (80C, 80D, HRA etc.). Better if your total deductions exceed ₹4-5 lakh.
Use our Income Tax Calculator to compare both regimes before deciding.
Step 7 — Claim Your Deductions (Old Regime)
- 80C (max ₹1.5L): EPF, PPF, ELSS, LIC premium, home loan principal, children's tuition
- 80CCD(1B): NPS contribution — extra ₹50,000 beyond 80C limit
- 80D: Health insurance premium — up to ₹25,000 self, ₹50,000 senior parents
- 24(b): Home loan interest — up to ₹2,00,000 for self-occupied property
Step 8 — Submit and e-Verify
- Review all details carefully
- Click Submit
- e-Verify within 30 days — mandatory, use Aadhaar OTP (fastest)
- Save your Acknowledgement Number (ITR-V)
After e-verification, refunds are typically processed within 15-45 days.
Common Mistakes to Avoid
- ❌ Not e-verifying within 30 days — return becomes invalid
- ❌ Wrong bank account details — refund fails
- ❌ Not reporting savings account interest — even ₹100 must be declared
- ❌ Missing the July 31 deadline — ₹5,000 penalty
Frequently Asked Questions
Q: Mandatory to file if employer deducted TDS?
Yes, if gross income exceeds ₹2.5 lakh. Also mandatory if claiming refund or carrying forward losses.
Q: Can I revise ITR after filing?
Yes! You can revise any number of times before December 31 of the assessment year.
Q: Do I need a CA?
For simple salaried income — No. The portal's pre-fill makes it DIY. For complex cases (business, foreign assets) → hire a CA (₹500-₹2,000).
Disclaimer: Tax laws change frequently. Verify with the official Income Tax portal or a qualified CA before filing. The Invest Mate is not a tax advisory firm and is not SEBI registered.
