Income Tax Return Filing for Salaried

What is the due date for ITR filing for salaried employees in FY 2025-26?

For salaried individuals (non-audit cases), the due date for filing ITR for FY 2025-26 (Assessment Year 2026-27) is 31st July 2026. Late filing is possible until 31st December 2026 with a late fee of ₹1,000 (for income below ₹5 lakh) or ₹5,000 (for income above ₹5 lakh). After 31st December, the ITR cannot be filed without a condonation petition.

Should I choose the Old Tax Regime or New Tax Regime?

The choice depends on your deductions and income level. The New Regime (default from FY 2023-24) offers lower slab rates but no major deductions (no 80C, 80D, HRA exemption, LTA). The Old Regime allows all deductions but has higher slab rates. Generally, if your total deductions exceed ₹3.5–4 lakh, the Old Regime saves more tax. Our CAs compute your tax under both regimes and recommend the better option.

Which ITR form should a salaried person file?

ITR-1 (Sahaj): For individuals with salary income, one house property, and other sources (FD interest, etc.) with total income up to ₹50 lakh. ITR-2: For individuals with salary + capital gains (shares, mutual funds, property sale), multiple house properties, or income above ₹50 lakh. ITR-3: If you have salary income + business/profession income. Our CA selects the correct form based on your income profile.

What happens if there are discrepancies between my Form 16 and AIS?

AIS (Annual Information Statement) reflects all financial transactions reported to the income tax department — salary, bank interest, capital gains, dividend, property transactions, and more. If AIS shows income not in your Form 16 (e.g., FD interest, dividend), you must include it in your ITR to avoid notices. Our CAs carefully cross-check Form 16, 26AS, and AIS before filing.

How long does a tax refund take after filing ITR?

After ITR is filed and verified, tax refunds are typically processed within 15–45 days if the return is selected for quick processing. However, if the return is picked for scrutiny or has outstanding demands, it can take longer. Most refunds are credited directly to the bank account linked with your PAN. Ensure your bank account is pre-validated on the income tax portal.

What is ITR-V and how do I verify my ITR?

ITR-V (Verification Form) is the acknowledgement generated after ITR is filed without a Digital Signature Certificate (DSC). You must e-verify your ITR within 30 days of filing using Aadhaar OTP, net banking, bank ATM, or by sending a signed physical ITR-V to CPC Bengaluru. Without verification, your ITR is not treated as filed. OnlineTaxGuru handles e-verification for you.

Do I need to file ITR if TDS has already been deducted from my salary?

Yes, filing ITR is mandatory if your income exceeds the basic exemption limit (₹2.5 lakh under Old Regime; ₹4 lakh under New Regime as per revised FY 2025-26 slabs), even if TDS was deducted. Filing ITR is also mandatory if you have income from multiple sources, want to claim a refund, carry forward capital losses, or if your bank deposits exceed ₹1 crore in the year.

Can I revise my ITR after filing if I made a mistake?

Yes. A revised return can be filed before 31st December of the assessment year (31st December 2026 for AY 2026-27). You can revise to correct errors, add omitted income, or change tax regime choice. There is no limit on the number of revisions before the deadline.