Income Tax Return Archives - Tax Heal https://www.taxheal.com/tag/income-tax-return Complete Guide for Income Tax and GST in India Wed, 15 Apr 2026 06:09:21 +0000 en-US hourly 1 https://wordpress.org/?v=6.9.4 Which ITR Filing type for salaried person AY 2026-27 (FY 2025-26) https://www.taxheal.com/which-itr-filing-type-for-salaried-person-ay-2026-27-fy-2025-26.html Tue, 14 Apr 2026 11:10:58 +0000 https://www.taxheal.com/?p=122278 Which ITR Filing type for salaried person AY 2026-27 (FY 2025-26) Which ITR Filing type for salaried person AY 2026-27 (FY 2025-26) For a salaried person in India, the correct Income Tax Return (ITR) form depends on your total income, the number of properties you own, and other sources of income for the relevant Assessment… Read More »

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Which ITR Filing type for salaried person AY 2026-27 (FY 2025-26)

ITR Filing type
Which ITR Filing type for salaried person AY 2026-27 (FY 2025-26)
For a salaried person in India, the correct Income Tax Return (ITR) form depends on your total income, the number of properties you own, and other sources of income for the relevant Assessment Year (AY) 2026-27.

1. ITR-1 (Sahaj)

Suitable for resident individuals with a total income up to ₹50 lakh, derived from salary/pension, up to two house properties, and limited interest/dividend income. It is also allowed for modest capital gains up to ₹1.25 lakh from listed equity under Section 112A.

2. ITR-2

Used if income exceeds ₹50 lakh, you own more than two properties, or hold assets outside India. Also required for capital gains from assets like gold or property, holding unlisted shares, or serving as a company director.

3. ITR-3 or ITR-4

  • ITR-3: For salaried individuals with income from a business or profession.
  • ITR-4 (Sugam): For those with salary and business income under a presumptive taxation scheme.
Note: The deadline for AY 2026-27 is 31st July 2026 for ITR 1 and ITR 2. Use the official Income Tax e-Filing portal to file.

why itr filing type is important

Choosing the correct ITR form is important because it acts as a legal declaration of your income. Filing the wrong one can lead to several complications:
  • Refund : If wrong ITR fling is selected than Redfund may be denied or delayed.
  • Defective Return Notice: The Income Tax Department may treat your filing as “defective” under Section 139(9). If you don’t correct it within 15 days, it’s as if you never filed at all.
  • Rejection of Deductions: Each form has specific sections for tax-saving claims (like 80C or 80D). If you use a form that doesn’t support your specific income type, your exemptions and deductions might be disallowed, leading to a higher tax demand.
  • Compliance with Disclosures: Different forms require different levels of detail. For example, ITR-2 requires details on foreign assets and unlisted shares that ITR-1 does not. Missing these disclosures is a compliance violation.
  • Processing Delays: The tax department’s automated system may fail to process your return or issue your refund if the data provided doesn’t match the structure of the form used.
  • Penalties and Interest: If a wrong form leads to an underreporting of tax liability, you could face penalties ranging from 50% to 200% of the tax evaded, plus monthly interest.

New Income Tax Act 2026 from April 1: What deductions and exemptions you lose under new tax regime

List of Deductions Allowed in New Tax Regime in AY 2025-26 and AY 2026-27

ITR filing Last Date FY 2025-26 AY 2026-27 I ITR filing Due date AY 2026-27

ITR filing start Date AY 2026-27

Income tax return form 2026-27 ! Download Notified Forms

ITR Forms for AY 2026-27: Major changes you need to know

ITR 1 AY 2026-27 pdf Download

ITR 2 AY 2026-27 pdf Download

ITR 3 AY 2026-27 pdf Download

ITR 4 AY 2026-27 pdf Download

ITR 5 AY 2026-27 pdf Download

Penalty for Late Filing of ITR AY 2026-27

ITR filing start Date AY 2026-27

Income tax return form 2026-27 ! Download Notified Forms

ITR Forms for AY 2026-27: Major changes you need to know

Tax on 15 lakh income in new regime AY 2026-27

INCOME TAX CALCUALTOR NEW REGIME FY 2025-26 / AY 2026-27

 

for more refer income tax website click here

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]]> Video NEW INCOME TAX NOTICE u/s 142(1) , REFUND लेके फंसा टैक्सपेयर ! ITR PROCESSING LATEST UPDATE https://www.taxheal.com/video-new-income-tax-notice-u-s-1421-refund-%e0%a4%b2%e0%a5%87%e0%a4%95%e0%a5%87-%e0%a4%ab%e0%a4%82%e0%a4%b8%e0%a4%be-%e0%a4%9f%e0%a5%88%e0%a4%95%e0%a5%8d%e0%a4%b8%e0%a4%aa%e0%a5%87%e0%a4%af.html Thu, 19 Mar 2026 06:32:59 +0000 https://www.taxheal.com/?p=117081 Video NEW INCOME TAX NOTICE u/s 142(1) , REFUND लेके फंसा टैक्सपेयर ! ITR PROCESSING LATEST UPDATE

]]> Video NEW INCOME TAX NOTICE u/s 142(1) , REFUND लेके फंसा टैक्सपेयर ! ITR PROCESSING LATEST UPDATE

]]> NEW INCOME TAX NOTICE 2025 ! e-Verification Intimation for F.Y. 2022-23 ! AIS और ITR में गड़बड़ी ! https://www.taxheal.com/new-income-tax-notice-2025-e-verification-intimation-for-f-y-2022-23.html Thu, 20 Mar 2025 12:40:28 +0000 https://www.taxheal.com/?p=101581 EW INCOME TAX NOTICE 2025 ! e-Verification Intimation for F.Y. 2022-23 ! AIS और ITR में गड़बड़ी ! Here is the topic-wise breakdown of the video with corresponding timestamps: Income Tax Notices for Financial Year 2022-23 General information about the notices [00:00] Reasons for issuing the notices [00:49] Email example of a notice [01:18] How… Read More »

]]> EW INCOME TAX NOTICE 2025 ! e-Verification Intimation for F.Y. 2022-23 ! AIS और ITR में गड़बड़ी !

Here is the topic-wise breakdown of the video with corresponding timestamps:

  • Income Tax Notices for Financial Year 2022-23
    • General information about the notices [00:00]
    • Reasons for issuing the notices [00:49]
    • Email example of a notice [01:18]
    • How to check the notice [02:50]
  • Updated Returns
    • Deadline for filing updated returns [02:18]
    • Additional tax and interest for updated returns [02:25]
  • Responding to Notices
    • Providing feedback on AIS information [03:37]
    • Explaining the source of funds for purchases [04:46]
  • Consequences of Not Responding
    • Potential for further scrutiny and notices [06:13]
    • Tax implications for unexplained expenses [07:13]
    • Importance of addressing notices [08:02]
]]> NEW INCOME TAX CALCULATOR AY 2025-26 LAUNCHED FREE TAX CALCULATIONS NEW AND OLD REGIME https://www.taxheal.com/new-income-tax-calculator-ay-2025-26.html Sat, 22 Feb 2025 07:31:17 +0000 https://www.taxheal.com/?p=99548 NEW INCOME TAX CALCULATOR AY 2025 26 LAUNCHED FREE TAX CALCULATIONS NEW AND OLD REGIME

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]]> How to File Income Tax Returns in India : A Step-by-Step Guide https://www.taxheal.com/how-to-file-income-tax-returns-in-india-a-step-by-step-guide.html Sat, 11 Jan 2025 05:43:10 +0000 https://www.taxheal.com/?p=97098 How to File Income Tax Returns in India 1. Determine the Appropriate ITR Form: Understand your income sources: Salary, business income, capital gains, rental income, etc. Select the correct ITR form: ITR-1 (Sahaj): For individuals with income from salary, pension, and other sources (with certain limits). ITR-2: For individuals and Hindu Undivided Families (HUFs) not… Read More »

]]> How to File Income Tax Returns in India

1. Determine the Appropriate ITR Form:

  • Understand your income sources:
    • Salary, business income, capital gains, rental income, etc.
  • Select the correct ITR form:
    • ITR-1 (Sahaj): For individuals with income from salary, pension, and other sources (with certain limits).
    • ITR-2: For individuals and Hindu Undivided Families (HUFs) not having income from business or profession.
    • ITR-3: For individuals and HUFs having income from business or profession.
    • ITR-4: For individuals and HUFs having income from business or profession under the presumptive taxation scheme.
    • Other forms are available for specific categories like companies, trusts, etc.

2. Gather Necessary Documents:

  • Form 16: From your employer, detailing salary income and TDS deducted.
  • Form 26AS: Downloaded from the Income Tax e-Filing portal, summarizing TDS and TCS (Tax Collected at Source) information.
  • Proof of Income: Bank statements, investment certificates, rental agreements, etc.
  • Deduction Proofs: Documents supporting deductions claimed (e.g., medical bills, tuition fees receipts, investment proofs).

3. Register or Login to the Income Tax e-Filing Portal:

4. Fill the ITR Form:

  • Select the appropriate ITR form and start filling in the details.
  • Use the pre-filled data from Form 26AS to minimize errors.
  • Carefully review all the information entered.

5. Calculate Tax Liability:

  • The ITR software will help you calculate your tax liability based on the information entered.

6. E-Verify Your ITR:

  • Aadhaar OTP: The most convenient method. You will receive an OTP on your registered mobile number linked to your Aadhaar.
  • Digital Signature: If you have a DSC, you can use it for e-verification.
  • EVC (Electronic Verification Code): Generate an EVC using your bank account details.

7. Submit Your ITR:

  • Once you have e-verified your ITR, click on “Submit” to file your return.

8. Acknowledgement:

  • After successful submission, you will receive an acknowledgement number.

Important Notes:

  • Due Dates: File your ITR before the due date to avoid penalties.
  • Accuracy: Ensure all the information entered in the ITR is accurate and complete.
  • Seek Professional Help: If you encounter any difficulties, consult with a Chartered Accountant (CA) or a tax professional for assistance.

Contact CA Satbir Singh on Taxheal@gmail.com for filing Income Tax Rrturns in India

Disclaimer: This information is for general guidance only and should not be considered professional tax advice.

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