A Simple Guide to File Income Tax Return (ITR Filing) in India

Filing an Income Tax Return (ITR) is a legal obligation for many Indians—and it’s also your chance to claim refunds and show financial responsibility. While the process may seem complicated, it’s actually quite straightforward once you understand the steps.

Whether you're a salaried professional, a freelancer, or a small business owner, this simple guide will help you file your ITR with confidence.

🔍What Is an Income Tax Return (ITR)?

An Income Tax Return is a form that taxpayers submit to the Income Tax Department of India. It contains details about your income, tax deductions, and taxes paid. If you've paid more tax than required, you can claim a refund through your ITR.

🧮 Who Needs to File ITR?

You must file ITR if:

• Your total annual income exceeds ₹2.5 lakh (under the old regime).
• You want to claim a refund.
• You have foreign assets or foreign income.
• You are a company or LLP, irrespective of income/loss.
• You wish to carry forward a loss (e.g., capital loss).

📑 Documents Required for Filing ITR

Keep the following ready:

• PAN Card
• Aadhaar Card
• Form 16 (for salaried individuals)
• Bank Statements
• TDS Certificates (Form 16A)
• Form 26AS (download from TRACES portal)
• Investment proofs (LIC, PPF, ELSS, etc.)
• Rent receipts (if claiming HRA)
• Capital gains statements (for shares or mutual funds)
• Business income details (if self-employed)

📝 Step-by-Step Process to File ITR

(How to File Income Tax Return)

1. Register/Login on Income Tax Portal

Visit https://www.incometax.gov.in

Login using your PAN (as user ID) and password. New users must register first.

2. Choose the Right ITR Form

Select the correct form based on your income:

• ITR-1 (Sahaj): For salaried individuals with income up to ₹50 lakh.
• ITR-2: For individuals with capital gains or foreign income.
• ITR-3: For professionals and business owners.
• ITR-4 (Sugam): For presumptive income (business/profession under section 44AD/ADA).

3. Download Form 26AS and AIS

Form 26AS shows the tax already deducted on your behalf. Verify this with your own records. Also review your Annual Information Statement (AIS) for extra data like interest income, mutual fund transactions, etc.

4. Fill in Income and Deduction Details

Enter:

• Income from salary, house property, capital gains, and other sources.
• Deductions under Section 80C (LIC, PPF), 80D (Health Insurance), etc.

5. Calculate Tax and Pay Dues (if any)

After deductions, the system auto-calculates tax. If any tax is still payable, you must pay it via Challan 280 before submission.

6. Verify All Details and Submit

Once you’re satisfied with the figures, submit your return online.

7. E-Verify Your ITR

You must e-verify your return within 30 days. Choose one of the following:

• OTP via Aadhaar-linked mobile
• Net banking
• Demat account
• Sending signed ITR-V to CPC Bangalore (offline option)

📆 ITR Filing Deadlines

• 15th September 2025 (Extended date)– For individuals (non-audit cases)
• 31st October 2025 – For businesses requiring audit
• 30th November 2025 – For entities required to furnish transfer pricing report

Late filing attracts penalties up to ₹5,000 plus interest.

✅ Benefits of Filing ITR

• Claim tax refunds
• Acts as income proof for loans/visas
• Carry forward losses
• Avoid penalties
• Stay compliant and responsible

🧮 Need Help Filing Your ITR?

At Kumar Ravi & Company, we offer end-to-end support for hassle-free ITR filing. Whether you are salaried, self-employed, or a business owner, our expert team ensures accuracy, savings, and peace of mind.

📞 Contact us today to file your return stress-free!