The taxpayer should mandatorily file ITR if they cross the Basic Exemption Limit, which is Rs. 4 lakh for new tax regime and Rs. 2.5 lakhs for old tax regime. Apart from crossing of this threshold limit, there are other conditions, satisfaction of which the person needs to compulsorily file ITR, even if they do not cross the threshold limit.Apart from these mandatory statutory requirements, there are many advantages of filing ITR like faster processing of loans, passports, carry forward of losses and also claiming of refunds.Categories of Taxpayers Required to File ITR for FY 2025-26 (AY 2026-27)If your total income in the year is more than the tax-free limit:Tax Free Limit under the Old Regime AgeTax-free limitBelow 60 yearsRs 2.5 lakh60 years or more but below 80 yearsRs 3 lakh80 years and moreRs 5 lakhTax Free Limit under the New regime - Rs. 4 lakhs, irrespective of the age of the taxpayer. If you want to claim an income tax refund.If you have earned from or have invested in foreign assets during the FY.If you wish to apply for a visa or a loanIf the taxpayer is a company or a firm, irrespective of profit or loss.If you have loss from business/profession or under capital gains head, you will not be allowed to carry them forward to the next years unless you file the return before the due date.Even if your income falls below the basic exemption limit, it is mandatory to file ITR if you meet any of these conditions:If you have deposited a total of Rs.

The ITR filing process can become complex depending on your residential status, the ITR form selected and the nature of your income. You can file your ITR online through the Income Tax Portal, or using the offline utility and then by uploading it on the portal. The CBDT has enabled online e-filing and excel utility for ITR-1 and ITR-4 for FY 2025-26 (AY 2026-27).What is ITR?ITR stands for Income Tax Return, in which the taxpayer discloses all the details related to his income, assets, taxes, losses, refunds, etc. for the relevant tax year.Documents Required for Filing ITRBefore filing ITR, there are a few documents and details that you need to gather in order to file ITR.PAN and AadhaarBank StatementsForm 16Donation receiptsStock trading statements from the broker platformInsurance policy paid receipts related to life and healthBank account information linked to PANAadhaar registered mobile number for e-verifying the returnInterest certificates from banksHow to File ITR Online?Before you start, download both your Form 26AS (Tax Credit Statement) and your AIS (Annual Information Statement) from the e-filing portal. Cross-check every entry against your bank statements, Form 16, broker capital gain statements and rent receipts. If any AIS entry is wrong, submit feedback within AIS itself - this preserves your audit trail and prevents notices later.The step-by-step guide on how to file ITR online for FY 2025-26 through the Income Tax Portal:Step 1: Log in to the Income Tax PortalLog in to the income tax portal by entering your PAN and password. Step 2: Select the relevant Tax Year and mode of filing ITRSelect ‘Tax Year’ as ‘AY 2026-27’ if you file for FY 2025-26 and click on Online, then "Continue".Step 3: Select your filing statusSelect your applicable filing status i.e., Individual, HUF, or others and click "Continue".Step 4: Select the applicable ITR FormBefore filing your income tax return, it's important to choose the correct ITR form based on your income sources.

Form 26AS is an annual tax credit statement issued by the Income Tax Department against your PAN. It records all Tax Deducted at Source (TDS), Tax Collected at Source (TCS), advance tax payments, self-assessment tax, refunds and major financial transactions for a financial year. As per the provisions of the new Income Tax Rules, 2026, Form 26AS has been replaced by Form 168, applicable for FY 2026-27. However, for the current filing season, taxpayers should continue to refer to Form 26AS, since it relates to the income earned during the year FY 2025-26.The CBDT has enabled online e-filing and excel utility for ITR-1 and ITR-4 for AY 2026-27 (FY 2025-26). What is Form 26AS?Form 26AS acts as a tax passbook, which contains all TDS deducted against your income in one place. Its scope has expanded significantly over the years, which now includes details of foreign remittances, mutual fund purchases, dividend income, and even your turnover as reported in GST records.Ignoring Form 26AS while filing ITR can be costly. Even a single transaction reflected in the form that goes unreported in your return can lead to an Income Tax notice.

ITR stands for Income Tax Return. It is a form through which taxpayers in India report their income, expenses, taxes paid, and tax liability for a financial year. There are seven types of ITR, namely ITR-1 to ITR-7. The type of ITR a taxpayer needs to file differs based on her income sources, level of income and the residential status. Therefore, choosing of the right ITR form becomes crucial.The ITR due date for non-tax audit cases for FY 2025-26 (AY 2026-27) is 31st July 2026.

When it comes to filing income tax returns, choosing the right ITR form is essential. If a taxpayer files a wrong ITR form, the IT department can reject the return and even charge a penalty for missing the deadline. In this regard, individual taxpayers usually have confusion when it comes to choosing between ITR 1 and ITR 2.ITR-1 and ITR-4 Filing Enabled AY 2026-27The Income Tax Department has started filing process for FY 2025-26 (AY 2026-27), by enabling both online filing and excel utility for ITR-1 and ITR-4. for FY 2025-26 (AY 2026-27). Taxpayers can file their ITR either online, or using offline utility.Both income tax return forms cover almost the same income categories but have subtle differences that set them apart.

ITR-4 (Sugam) is an income tax return for resident individuals, HUFs and firms with total income up to Rs. 50 lakhs and having business or professional income under the presumptive taxation scheme as per Sections 44AD, 44ADA or 44AE along with salary, one house property and other incomes. Tax audit is generally not applicable for ITR-4 as it is designed for small taxpayers with business income. However, tax audit becomes applicable when income crosses certain limits. ITR-1 and ITR-4 Filing Enabled AY 2026-27The Income Tax Department has started filing process for FY 2025-26 (AY 2026-27), by enabling both online filing and excel utility for ITR-1 and ITR-4. for FY 2025-26 (AY 2026-27). Taxpayers can file their ITR either online, or using offline utility.Who can File ITR-4?ITR-4 is to be filed by the individuals/HUF/Partnership firm who fulfill the following conditions:Is a Resident of India as per Income Tax ActHaving Business or Professional IncomeIncome from business calculated under Section 44AD or 44AEIncome from profession calculated under Section 44ADALong-term capital gains income on equity share & mutual funds up to Rs.

ITR-1 (Sahaj) is the income tax return form for resident individuals with total income up to Rs. 50 lakh from salary or pension, two house property, and other sources like interest. It can also be used when you have long-term capital gains under Section 112A up to Rs. 1.25 lakh, provided there are no brought forward or carry forward capital losses.However, ITR-1 cannot be used if you have business or professional income, more than two house property, capital gains above the specified limit, foreign assets, or total income exceeding Rs. 50 lakh.

ITR-1 (Sahaj) and ITR-4 (Sugam) are the most common forms used by taxpayers, catering to different types of taxpayers and income sources. The key difference between ITR-1  and ITR-4 is that salaried individuals or pensioners file ITR-1, while ITR-4 is filed by individuals with business or professional income opting for the presumptive taxation scheme under sections 44AD, 44ADA, and 44AE.ITR-1 and ITR-4 Filing Enabled AY 2026-27The Income Tax Department has started filing process for FY 2025-26 (AY 2026-27), by enabling both online filing and excel utility for ITR-1 and ITR-4. for FY 2025-26 (AY 2026-27). Taxpayers can file their ITR either online, or using offline utility.What is ITR-1 (Sahaj)?ITR-1 or SAHAJ is a type of income tax return filing form meant for resident individuals, and this form includes the Income primarily form:Pension or salaries, Two house propertiesOther sources (excluding betting, gambling, and lotteries)Agricultural Income of up to Rs 5,000However, this form is eligible for Income up to Rs.50 lacs in the Financial year. Additionally, if the Income of your spouse or minor is clubbed together, you can also file this particular form.

Form 16 is a TDS certificate issued by an employer that shows the tax deducted from your salary and a detailed breakup of your income, exemptions, deductions, and taxable amount for the financial year. It is an important document for salaried taxpayers to verify TDS and file their income tax return accurately, and can be downloaded from the employer or payroll portal once issued.This blog explains in detail about Form 16, which is applicable for FY 2025-26 and preceding years. Form 16 Renamed as Form 130Under the Income Tax Act 2025, Form 16 has been renumbered as Form 130 effective from Tax Year 2026-27 (April 1, 2026) and onwards. For FY 2025-26, your employer will still issue Form 16 as usual.  What is Form 16?Form 16 is a TDS certificate issued by the employer containing TDS deducted on salary, the salary income during the financial year. It serves as a handy document for ITR filing process as it contains various information related to employer, the taxpayer, TDS deducted, income estimate, deductions claimable etc. It is issued under section 203 of the Income Tax Act, 1961.Form 16 is divided into 2 parts: Part A and Part B.

Professional tax is state-imposed tax which is levied on salaries employees, professionals, and self employed individuals engaged in various professions, trades and occupations. In Tamil Nadu this serves as an essential source of revenue for the state government and is applicable to both employees and business owners based on their income. Hence, it is essential to understand professional tax rules, slab rates,payment and due dates for timely compliance and avoid penalties.Professional Tax in Tamil NaduThe Tamil Nadu state government imposed a professional tax on every salaried employee working in government and private sectors and self-employed individuals in any business or profession, such as doctors, engineers, lawyers, chartered accountants, freelance professionals, etc. Those working in Tamil Nadu must pay professional tax according to the applicable income slab and professional tax rate.Employers deduct professional tax from employees' salaries monthly or half-yearly, and self-employed people deposit professional tax half-yearly (in six months). However, professional tax paid by salaried employees can be claimed as a deduction under the old income tax regime while filing an ITR.Professional tax in Tamil Nadu is levied under the Tamil Nadu Panchayats, Municipalities and Municipal Corporations Rules, 1998.