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).Simple Steps to file ITR OnlineYou can file your ITR following these simple steps:Login to the Income Tax PortalGo to ‘File Income Tax Return’Select the Assessment yearSelect 'Filing Status"Select ‘ITR Type’Select reason for filing the returnValidate the detailsE-verify the returnWhat 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 assessment 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 Assessment Year and mode of filing ITRSelect ‘Assessment Year’ as ‘AY 2026-27’ if you file for FY 2025-26 and click on Online, then "Continue".For FY 2025-26, the Income Tax Act 1961 still applies, therefore, we still need to choose the relevant assessment year.

Section 10 of the Income Tax Act deals with exempt income. It lists incomes that are fully or partially exempt from tax, meaning they may not form part of your taxable income subject to conditions.Popular Section 10 Exemptions ListHouse Rent Allowance (HRA) Leave Travel AllowanceAgricultural IncomeChildren Education AllowanceInterest on provident fund (on satisfaction of conditions)Retirement settlement amount such as gratuity, leave encashment, pension, etc. (on satisfaction of conditions)What are Section 10 Exemptions of the Income Tax Act?While calculating the tax liability of an individual, there are certain incomes which is exempt and do not form a part of the total income. Section 10 includes all those exemptions that a taxpayer can claim while paying income tax. From an employee's perspective, the exemptions available under the act can be classified as exempt allowances, and other exempt income. They are presented as follows:CategorySectionParticularsExemption on AllowancesSection 10(13A)House Rent Allowance (HRA)Section 10(14)(ii)Children’s Education AllowanceSection 10(5)Leave Travel Allowance (LTA)Section 10(14)Exemption of Special AllowanceOther Exemptions on Salaried IncomeSection 10(11)Provident Fund and Sukanya Samriddhi Account InterestSection 10(10)GratuitySection 10(10AA)Leave EncashmentSection 10(10A)Commuted PensionSection 10(10B)Retrenchment CompensationSection 10(10C)Voluntary Retirement CompensationSection 10(10D)Life Insurance PolicyExemptions on Other IncomeSection 10(1)Agricultural IncomeSection 10(2A)Partner’s Share in ProfitsSection 10(15)Interest on Savings CertificatesSection 10(23C)Tax Exemption for Educational and Medical InstitutionsSection 10(26)Tax Exemptions for Scheduled Tribe Members in Specific Northeastern StatesSection 10(26AAA)Tax Exemption for Sikkimese IndividualsSection 10(34)Exemption on DividendsSection 10(34A)Exemption on Buy-Back of SharesSection 10(35)Exemption on Income from Specified Mutual FundsSection 10(37)Exemption on Capital Gains from Compulsory Acquisition of Urban Agricultural LandSection 10(38)Exemption on Long-Term Capital Gains from Sale of Equity Shares and Equity-Oriented Mutual FundsSection 10AAUnits in Special Economic Zones (SEZs)What are the Income Tax Exemptions Under Section 10?1.

Form 10BA declaration is used for claiming rent deduction under section 80GG by individuals who do not receive HRA. Self employed individuals and HUFs can also claim this deduction by filing Form 10BA, if they pay rent for their residential accommodation. Key HighlightsIf you have not filed the return on income within the due date, you can still file Form 10BA before filing belated return.Form 10BA requirement arises only under the old regime, as section 80GG deduction is not available under the new regime.Up to ₹60,000 deduction can be claimed under section 80GG, subject to conditions prescribed.What is Form 10BA?Form 10BA is a declaration submitted by the taxpayer for claiming deduction under section 80GG To claim the deduction, the taxpayer must declare that they are not claiming the deduction for a self-occupied property in another location or the exact location where they are employed. Form 10BA DownloadYou can download Form 10BA using the following link:Form 10BA DownloadWhat is the applicability of Form 10BA ?The following points justify the Form 10BA applicability:The taxpayer can be salaried or self-employed; however, they should not receive a house rent allowance from an employer.If the taxpayer, their minor child, spouse, or the assessee is a member of a HUF (Hindu Undivided Family), then the HUF must not possess any self-occupied residential property.Is Form 10BA Mandatory?Yes. It is compulsory to claim a deduction for rent remunerated under Section 80GG of the Income Tax Act. The Form 10BA is mandatory for the following reasons:Non-filing of this form can incur interest, penalties, or legal consequences.This form works as documentary evidence to approve your claim for deductions under Section 80GG. It offers a certifiable record of your rental payments.It presents legitimate tax compliance records that help those individuals who apply for visas, loans, or background checks.What are the limits as per Form 10BA ?The Form 10BA limit for claiming a deduction for the rent paid under Section 80GG is as follows:The deduction amount is the lowest of the following:Rs.5,000 per month or Rs.60,000 per year.25% of the total income (excluding short-term capital gains under Section 111A, long-term capital gains, Income under Section 115A or 115D, and deductions under Sections 80C to 80U.Actual rent (-) 10% of income.Form 10BA Due DateForm 10BA of the Income Tax Act should be filed before the income tax return. Therefore, the due date for Form 10BA is identical to that for income tax returns. For example, for the financial year 2025-26, the due date to file Form 10BA is 31st July, 2026. If you are required to audit your books of account, the due date for filing this form will be 30 September 2026.How to file Form 10BA on the Income Tax Portal?Follow these steps to file Form 10BA income tax online:Login on the e-filing portal On the dashboard, click ‘e-File’ > ‘Income tax forms’ > ‘File Income Tax Forms’Scroll down to select Form 10BA.

Obtaining a Tax Deduction and Collection Account Number (TAN) is mandatory for every person or entity responsible for deducting or collecting tax at source under the Income Tax Act. After submitting a TAN application online, applicants can easily track the TAN application status through multiple methods, including the acknowledgement number, customer care services, or SMS. Checking the status regularly helps ensure timely allotment of TAN and smooth compliance with TDS and TCS requirements.Methods to Check TAN Application StatusApplicants can check their TAN application status thorugh any of the following methods:Using Acknowledgement NumberCustomer Care NumberSMS Services1. Check TAN Application Status via Acknowledgement NumberFollow the below steps to check your TAN Application Status using Acknowledgement Number:Step 1: Visit the Protean eGov Portal.Step 2: You will find a drop-down menu against Application Type. Select “TAN - New/Change Request”Step 3: Select the option “Acknowledgement Number” and enter your Acknowledgement Number in the space providedStep 4:  Enter the displayed captcha code in the space provided and click “Submit”Step 5: Once you click on submit, your TAN Application Status will be displayed on the screen.2.

NRI status under the Income-tax Act, 1961 classifies Indians abroad as Resident, NRI, or RNOR based on days spent in India. Residents are taxed on global income, while NRIs are taxed only on income earned or received in India, making residential status crucial for taxation and exemptions.Key TakeawaysNRIs and RNORs are taxed only on income earned or received in India, while Residents are taxed on global incomeYou are resident if you stay ≥182 days in India in a year, or 365 days in the past 4 years + 60/120 days in the current year.Who is a Resident in India?A person would be a Resident of India for income tax purposes if-He/she is in India for 182 days or more during the financial year.ORIf he/she is in India for at least 365 days during the 4 years preceding that year AND at least 60 days in the relevant financial year.Note: These days may be a single visit or counted over many visits to India.Residential Status of Indian Citizens Leaving India for EmploymentIn case you are an Indian citizen, and you leave India for employment outside of India, or as a member of the crew on an Indian ship, your status will be a Non-Resident Indian (NRI) if you stay in India in the previous year for less than 182 days. Thus, if you are an Indian citizen and you live outside India for 182 days or above, you will be an NRI.Residential Status of Indian Citizen or a Person of Indian Origin In case of a citizen of India or a person of Indian Origin, who is outside India and has come on a visit to India during the previous year, where total income, other than income from foreign sources, exceeds Rs. 15 lakh, such person would be a RESIDENT of India for income tax purposes ifHe/she is in India for 182 days or more during the financial year.ORIf he/she is in India for at least 365 days during the 4 years preceding that year AND at least 120 days in the previous year.Deemed Resident Irrespective of the conditions listed above for being a resident, there is also a concept of deemed resident.  An individual who is a citizen of India and has a total income (from other than foreign sources) exceeding Rs. 15 lakhs during a financial year, then he shall be deemed to be a resident in India in that year if he is not a tax resident of any other country.Who is a Non-Resident in India?If you do not satisfy the condition laid out above for a person to be considered a resident in India - you will be considered a NON-RESIDENT INDIAN (NRI).

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.

The ITR-3 form is the most comprehensive income-tax return form for individual taxpayers. It is applicable for individuals and HUFs having income from a proprietary business or profession. It is applicable when the taxpayer maintains regular books of accounts and total income exceeds Rs. 50 lakhs.What Changed in ITR-3 for FY 2025-26 (AY 2026-27)Before and after 23rd July 2024 reporting requirement for capital gains has been removedAddition of new field for reporting F&O turnover and incomeAdditional disclosure for deductions under Sections 80G, 80GGC, 80DD and 80UAddition of Section 44BBD tax audit informationWho Can File ITR-3?Individuals and HUFsCarrying on business under presumptive schemeCarrying on ProfessionIncome From Dividend/InterestIncome from freelancing or consultancyIncome from F&O Trading/Intraday/Share TradingThe return may include income from house property, salary/pension, capital gains, and other sources.Remuneration received from a partnership firm (Not from LLPs)Who Cannot File ITR-3?No persons other than individuals & HUF are eligible to file ITR -3 Form.Individuals & HUFs not having income by way of business or profession or partnership firm are not eligible to file the ITR-3 Form. In other words, any person who is eligible to file ITR-1, ITR-2 and ITR-4 is not eligible to file ITR-3.Last Date to File ITR 3 for FY 2025-26 (AY 2026-27)For non-audit cases, the due date  to file ITR-3 for FY 2025-26 (AY 2026-27) is 31st August 2026 and for accounts requiring audit, the due date is 31st October 2026.What is the Structure of ITR-3?Part APart A-GEN: General information and Nature of BusinessPart A-BS: Balance Sheet as of March 31, 2021, of the Proprietary Business or ProfessionPart A- Manufacturing Account: Manufacturing Account for the financial year 2020-21Part A- Trading Account: Trading Account for the financial year 2020-21Part A-P&L: Profit and Loss for the financial Year 2020-21Part A-OI: Other Information (optional in a case not liable for audit under Section 44AB)Part A-QD: Quantitative Details (optional in a case not liable for audit under Section 44AB)After this, there are the following schedules.Schedule-S: Computation of income under the head Salaries.Schedule-HP: Computation of income under the head Income from House PropertySchedule BP: Computation of income from business or professionSchedule-DPM: Computation of depreciation on plant and machinery under the Income-tax ActSchedule DOA: Computation of depreciation on other assets under the Income-tax ActSchedule DEP: Summary of depreciation on all the assets under the Income-tax ActSchedule DCG: Computation of deemed capital gains on the sale of depreciable assetsSchedule ESR: Deduction under section 35 (expenditure on scientific research)Schedule-CG: Computation of income under the head Capital gains.Schedule 112A: Details of Capital Gains where section 112A is applicableSchedule 116AD(1)(b)(iii)Proviso: For Non-Residents Details of Capital Gains where section 112A is applicable.Schedule-OS: Computation of income under the head Income from other sources.Schedule-CYLA-BFLA: Statement of income after set off of current year’s losses and Statement of income after set off of unabsorbed loss brought forward from earlier years.Schedule-CYLA: Statement of income after set off of current year’s lossesSchedule BFLA: Statement of income after set off of unabsorbed loss brought forward from earlier years.Schedule CFL: Statement of losses to be carried forward to future years.Schedule- UD: Statement of unabsorbed depreciation.Schedule ICDS – Effect of Income Computation Disclosure Standards on ProfitSchedule- 10AA: Computation of deduction under section 10AA.Schedule 80G: Statement of donations entitled for deduction under section 80G.Schedule RA: Statement of donations to research associations etc. entitled for deduction under section 35(1)(ii) or 35(1)(iia) or 35(1)(iii) or 35(2AA)Schedule- 80IA: Computation of deduction under section 80IA.Schedule- 80IB: Computation of deduction under section 80IB.Schedule- 80IC/ 80-IE: Computation of deduction under section 80IC/ 80-IE.Schedule VI-A: Statement of deductions (from total income) under Chapter VIA.Schedule AMT: Computation of Alternate Minimum Tax Payable under Section 116JCSchedule AMTC: Computation of tax credit under section 116JDSchedule SPI: Statement of income arising to spouse/ minor child/ son’s wife or any other person or association of persons to be included in the income of the assessee in Schedules-HP, BP, CG and OS.Schedule SI: Statement of income which is chargeable to tax at special ratesSchedule-IF: Information regarding partnership firms in which assessee is a partner.Schedule EI: Statement of Income not included in total income (exempt incomes)Schedule PTI: Pass through income details from a business trust or investment fund as per section 116UA, 116UBSchedule TPSA: Secondary adjustment to transfer price as per section 92CE(2A)Schedule FSI: Details of income from outside India and tax reliefSchedule TR: Statement of tax relief claimed under section 90 or section 90A or section 91.Schedule FA: Statement of Foreign Assets and income from any source outside India.Schedule 5A: Information regarding apportionment of income between spouses governed by Portuguese Civil CodeSchedule AL: Asset and Liability at the end of the year(applicable where the total income exceeds Rs 50 lakhs)Schedule tax deferred on ESOP: Information of tax-deferred on ESOPS received from eligible start-ups referred to in Section 80-IACSchedule GST: Information regarding turnover/ Gross receipt reported for GSTPart B-TI: Computation of Total Income.Part B-TTI: Computation of tax liability on total income.VerificationHow to File Your ITR-3 Online on Income Tax Portal?Visit the Income Tax e-Filing Portal and log in using your PAN as the User ID and your password.After logging in, go to the e-File menu and select “Income Tax Return” from the drop-down.

Plan your daughter’s future with the Sukanya Samriddhi Yojana (SSY), a high-interest, government-backed savings scheme. Use our SSY Calculator to estimate maturity amount, total interest, and tax-free returns instantly.What is Sukanya Samriddhi Yojana?Sukanya Samriddhi Yojana (SSY) is a government-backed savings scheme for girls below 10 years, allowing deposits up to ₹1.5 lakh per year. Contributions for 15 years grow tax-free and the account matures at 21, securing your daughter’s financial future with guaranteed returns.What is Sukanya Samriddhi Yojana Calculator?The SSY Calculator helps compute the maturity amount and earned interest for a Sukanya Samriddhi Yojana account. Enter the deposit amount, the girl child’s age (up to 10 years), and the investment start year to see the invested amount, total interest, and maturity value.How Does SSY Calculator Work and Calculation Formula?The SSY calculator use formula below:  A = P(1+r/n)^nt where,P = Initial Depositr = Rate of interestn = Number of years the interest compounds t = Number of years A = Amount at maturity Example For Sukanya Samriddhi Yojana CalculationThe SSY account offers an interest rate of 8.2% p.a. Let us calculate the maturity amount after 21 years.

Form 15G and Form 15H are self-declaration forms used by taxpayers to prevent TDS deduction on certain incomes such as bank interest, dividends, rent, or pension when their total tax liability for the financial year is nil. These forms are submitted to banks or financial institutions under the Income Tax Act, 1961, allowing eligible taxpayers to receive income without TDS deduction, provided they satisfy the prescribed conditions. Under the Income Tax Rules, 2026, Form 15G & 15H have been merged into a single new Form 121.Key Highlights of Form 15G and Form 15HApplicable to: Resident individuals, HUFs and senior citizens meeting eligibility conditionsAge Limit: Form 15G for below 60 years. Form 15H for 60 years and aboveIncome Limit: Total income should be within the basic exemption limit under the old/new tax regime, with nil tax liabilityNew Form: Form 121 replaces Forms 15G and 15H (where applicable under new rules)What is Form 15G?Form 15D is a self-declaration form for individuals to submit to banks or financial institutions to avoid Tax Deducted at Source (TDS) on interest income, when the total income is below the basic exemption limit.Form 15G is generally used by individuals below 60 years of age and Hindu Undivided Families (HUFs) to ensure that TDS is not deducted on interest earned from sources such as fixed deposits or recurring deposits.What is Form 15H?Form 15H is a self-declaration for senior citizens (aged 60 years or above) that can be submitted to banks or financial institutions to avoid Tax Deducted at Source (TDS) on interest income, when the total income is below the basic exemption limit.By submitting this form, the taxpayer declares that their total tax liability for the financial year is nil, so that the payer do not deduct TDS on the interest earned. What is Form 121?Form 121 is the new self-declaration form which taxpayers can submit to avoid TDS on income earned from banks or other financial institutions when their total income is below the basic exemption limit. Form 121 was introduced under the Income Tax Rules, 2026 in accordance with the Income Tax Act, 2025. Form 121 is a unified form which replaces Form 15G and Form 15H from Tax Year 2026-27 onwards.

Form 16 is a declaration form for individuals )except companies or firms) and foreign companies who don't have a PAN but needs to carry out transaction which is sepcified as per Rule 114B for the Income Tax Act, 1961. PAN is mandatory for certain high value transactions which would help government crub and track black money, those without one can submit From 60 as an alternative. What is Form 60?Form 60 is a document to be filed by a person (not a company or firm) to carry out transactions specified in Rule 114B when they do not have a PAN either because:they have not applied for PAN orthey have applied for PAN, but allotment is pendingForm 60 without applying for PAN is not acceptable if your total income (other than agriculture) is more than the basic exemption limit. In that case, you can use Form 60 only if you have applied for PAN, and you must also mention the date of application and acknowledgement number in column 22 of the form.How to Download Form 60 in PDF?One can get Form 60 of Income Tax from the official website of the Income Tax Department. One must follow the steps outlined below to download Form 60 pdf:Go to the official website of the Income Tax Department.From the top navigation menu, select “Forms/Download.”Select “Income Tax Forms” from the drop-down menu. You will be led to a page listing various income tax forms. Now select  “Form No.60.”Select the document. It will then be downloaded to your machine automatically.Download Form 60 PDF from the Income Tax PortalWhen to Submit Form 60?In the following cases, it is mandatory to quote your PAN.