Filing your income tax return in India
Filing an income tax return (ITR) in India is a legal obligation for individuals whose total income exceeds the basic exemption threshold set by the government. Even when income falls below that threshold, filing a return can be beneficial for documentation purposes, obtaining refunds, or carrying forward losses. The Income Tax Department administers the process through its centralised e-filing portal at incometax.gov.in.
Who must file an ITR?
The obligation to file depends on factors such as total income, residency status, and the type of income earned. Salaried individuals, self-employed persons, business owners, and those with capital gains, rental income, or foreign assets may all have a filing requirement.
Certain categories are required to file regardless of income level:
- Individuals who hold signing authority in a foreign bank account or own foreign assets
- Persons who have deposited amounts above prescribed limits in current accounts
- Those who have incurred expenditure on foreign travel above the notified threshold
- Businesses and professionals meeting the turnover thresholds for audit
The Income Tax Department publishes updated criteria for each assessment year. A tax professional can confirm whether a specific situation triggers a filing obligation.
Understanding the assessment year
India's income tax system operates on a financial year running from 1 April to 31 March. Tax returns relate to an assessment year (AY), which is the year immediately following the financial year in which income was earned. For example, income earned in the financial year 2025-26 is assessed in AY 2026-27.
Being clear on the correct assessment year is essential when selecting the ITR form and when using the e-filing portal, because forms and rules change between assessment years.
The e-filing portal
The Income Tax Department's e-filing portal (incometax.gov.in) is the official platform for submitting returns, responding to notices, and tracking refund status. Key functions available through the portal include:
- Logging in with a PAN (Permanent Account Number) or Aadhaar-linked credential
- Pre-filling return data from Form 26AS and the Annual Information Statement (AIS)
- Selecting the appropriate ITR form (ITR-1 through ITR-7, depending on income type)
- E-verifying the return using Aadhaar OTP, net banking, or other approved methods
The return is not considered filed until it has been e-verified or a physical verification form (ITR-V) has been submitted to the Centralised Processing Centre in Bengaluru within the prescribed period.
General due dates
The Income Tax Department announces due dates for each assessment year through official notifications. Broadly:
- 31 July of the assessment year is the general deadline for individuals and entities not subject to audit
- 31 October applies to taxpayers whose accounts must be audited under the Income-tax Act or other statutes
- 31 October also applies to partners of firms required to furnish an audit report
These dates are subject to extension by the government. Belated returns can be filed by 31 December of the assessment year, though late-filing fees and restrictions on carrying forward certain losses apply. Consult a tax professional or the official portal for the current assessment year's confirmed deadlines.
Old regime versus new regime
India currently operates two parallel tax regimes for individual taxpayers. The difference centres on how deductions and exemptions are treated:
| Feature | Old regime | New regime |
|---|---|---|
| Standard deductions and exemptions | Available (HRA, 80C, 80D, etc.) | Mostly unavailable or limited |
| Tax slabs | Set by the government annually | Separate slab structure set annually |
| Default option | Varies by year; check official notification | Was made the default from AY 2024-25 |
The government sets the slab rates for both regimes each year through the Finance Act. Because rates and thresholds change annually, this guide does not state specific figures. The Income Tax Department's portal provides a tax calculator for the current assessment year.
Choosing between the two regimes requires assessing an individual's specific deduction profile. A qualified tax professional can model the comparison for a given situation.
Where to get help
A chartered accountant, tax practitioner, or enrolled agent registered with Indian professional bodies can guide you through the process.
Find recognised tax professionals in India
Sources
Income Tax Department, Government of India — incometax.gov.in