What is the due date for filing ITR for FY 2025-26?

31 July 2026 for individuals and HUFs not requiring audit (ITR-1/ITR-2); 31 August 2026 for non-audit businesses and professionals (ITR-3/ITR-4); 31 October 2026 for audit cases; and 30 November 2026 for transfer-pricing cases. A belated return can be filed until 31 December 2026, and a revised return until 31 March 2027.

Who is required to file an income tax return for FY 2025-26?

Anyone whose gross total income exceeds the basic exemption limit — Rs. 4 lakh under the new regime or Rs. 2.5 lakh under the old regime (higher for senior citizens). Filing is also mandatory regardless of income for specified conditions like bank deposits over Rs. 1 crore, foreign travel spend above Rs. 2 lakh, electricity bills above Rs. 1 lakh, TDS/TCS of Rs. 25,000 or more, business turnover above Rs. 60 lakh, professional receipts above Rs. 10 lakh, or holding foreign assets.

Which ITR form should a salaried person use?

ITR-1 (Sahaj) if total income is up to Rs. 50 lakh from salary, one house property, other sources and LTCG under section 112A up to Rs. 1.25 lakh. If income exceeds Rs. 50 lakh, there are capital gains beyond that limit, more than one house property, or foreign assets, ITR-2 applies.

What are the income tax slabs for FY 2025-26 under the new regime?

Nil up to Rs. 4 lakh; 5% from 4-8 lakh; 10% from 8-12 lakh; 15% from 12-16 lakh; 20% from 16-20 lakh; 25% from 20-24 lakh; and 30% above Rs. 24 lakh. With the section 87A rebate, individuals with taxable income up to Rs. 12 lakh (Rs. 12.75 lakh for salaried with standard deduction) pay zero tax.

How long does an income tax refund take?

After e-verification, most refunds are processed by CPC within 4 to 8 weeks, often faster for simple salaried returns. The refund is credited only to a pre-validated bank account linked to PAN.

Is e-verification of ITR mandatory?

Yes. An ITR must be verified within 30 days of filing, otherwise it is treated as invalid. E-verification can be done via Aadhaar OTP, net banking, bank account EVC, demat EVC, or by posting the signed ITR-V to CPC Bengaluru.

What is the penalty for late filing of ITR?

A late fee of Rs. 5,000 applies under section 234F (Rs. 1,000 where total income is up to Rs. 5 lakh), plus 1% per month interest on unpaid tax under section 234A. Belated filers also lose the ability to carry forward most losses.

Can I switch between old and new tax regime every year?

Salaried taxpayers without business income can choose either regime each year while filing. Taxpayers with business or professional income can switch out of the new regime only once, with limited ability to return.

What documents are required to file ITR?

Core documents: PAN, Aadhaar, Form 16 from employer, Form 26AS, AIS and TIS from the portal, bank statements and interest certificates, capital gains statements from brokers, rent receipts or home loan certificate, investment proofs for deductions, and details of any foreign income or assets.

What is Form 26AS and AIS?

Form 26AS is your tax credit statement showing TDS, TCS, advance tax and refunds against your PAN. The Annual Information Statement (AIS) is broader — it captures interest, dividends, securities trades, mutual funds and high-value transactions reported by third parties. Returns should always be reconciled with both.

Do I need to file ITR if my employer already deducted TDS?

Yes. TDS is only tax collection — filing the return is a separate legal obligation. Filing also lets you claim refunds of excess TDS and keeps an official income record for loans and visas.

Can I file ITR myself or should I use a CA?

Simple single-Form-16 salary returns can be self-filed. A CA adds value when there are capital gains, multiple income sources, business income, foreign assets, regime-choice optimisation, or notices — where errors are costly. Lalit Tyagi & Company files returns for clients across Hapur, Ghaziabad, Noida and Delhi NCR.

What happens if I miss the 31 December 2026 belated deadline?

You can no longer file a normal return. The only route is an updated return (ITR-U), which can be filed within 48 months of the end of the assessment year but requires paying additional tax of 25% to 70% of the tax and interest due — and cannot be used to claim a refund.

Is income tax return filing free?

Yes, the income tax portal charges nothing. Professional CA fees for preparation and filing typically range from Rs. 500 to Rs. 5,000+ as a market estimate, depending on income complexity.

How do I check my refund status?

Log in at incometax.gov.in, go to e-File > Income Tax Returns > View Filed Returns to see processing status, or check the NSDL/Protean refund tracking page with your PAN and assessment year.

What is an intimation under section 143(1)?

It is the automated processing result of your return from CPC — comparing your figures with department records. It may show a refund, a demand, or no change. It is not a scrutiny notice, but any demand or mismatch in it should be addressed promptly.

Can NRIs file ITR in India?

Yes — NRIs must file if their India-sourced income exceeds the basic exemption limit, or to claim refunds of TDS on rent, interest or property sales. NRIs generally use ITR-2 (or ITR-3 with business income) and cannot use ITR-1.

What is advance tax and who must pay it?

If your net tax liability after TDS exceeds Rs. 10,000 in a year, you must pay advance tax in instalments — 15% by 15 June, 45% by 15 September, 75% by 15 December and 100% by 15 March. Shortfalls attract interest under sections 234B and 234C.

Are capital gains from shares and mutual funds taxable in FY 2025-26?

Yes. Listed equity LTCG above the Rs. 1.25 lakh exemption is taxed at 12.5%, and STCG under section 111A at 20%. Other assets follow their own rates and holding periods. Broker capital gains statements are essential documents for the return.

Why is my refund delayed?

The most common reasons: return not e-verified, bank account not pre-validated, mismatch between return and 26AS/AIS, outstanding demand of an earlier year being adjusted, or the return selected for risk review. Each has a specific fix — start by checking verification and bank validation status.

Income Tax Return FY 2025-26 (AY 2026-27): Who Must File, Forms, Due Dates & Refunds

Key dates for FY 2025-26 (AY 2026-27)

Income earned between 1 April 2025 and 31 March 2026 is reported in the return filed during 2026. These are the dates that matter:

31 Jul 2026

Individuals & HUFs — non-audit (ITR-1 / ITR-2)

31 Aug 2026

Businesses & professionals — non-audit (ITR-3 / ITR-4)

31 Oct 2026

Businesses & professionals requiring audit

30 Nov 2026

Transfer pricing — international / specified domestic transactions

31 Dec 2026

Last date — belated return (with late fee)

31 Mar 2027

Last date — revised return (corrections)

⚠️ Missing your due date costs real money: ₹5,000 late fee under section 234F (₹1,000 if income ≤ ₹5 lakh), 1% monthly interest on unpaid tax, and loss of carry-forward for most losses. A belated return is allowed until 31 December 2026 (with the late fee), and corrections via a revised return until 31 March 2027. After that, only an updated return (ITR-U) with 25–70% additional tax remains — and it cannot claim a refund.

Who needs to file an ITR

Filing is mandatory if your gross total income exceeds the basic exemption limit — ₹4 lakh under the new regime, ₹2.5 lakh under the old (₹3 lakh for senior citizens, ₹5 lakh for super seniors under old regime). But income isn't the only trigger. You must file regardless of income if any of these apply:

🏦 Bank deposits over ₹1 crore in current accounts (or ₹50 lakh+ in savings accounts) during the year.

✈️ Foreign travel spend above ₹2 lakh for yourself or any other person.

⚡ Electricity bills above ₹1 lakh in aggregate during the year.

📉 TDS/TCS of ₹25,000 or more (₹50,000 for senior citizens) — common for high-rent or high-interest earners.

🏪 Business turnover above ₹60 lakh or professional receipts above ₹10 lakh.

🌍 Foreign assets or signing authority abroad — any foreign bank account, shares, ESOPs or property.

💸 Claiming a refund of TDS deducted on salary, interest, rent or property sale.

📈 Carrying forward losses — capital losses and business losses need a return filed on time to survive.

Tax slabs & how much you pay

FY 2025-26 offers two regimes. The new regime is the default with lower rates and fewer deductions; the old regime keeps deductions like 80C, 80D and HRA but at higher rates.

New Tax Regime Default · FY 2025-26

Up to ₹4,00,000	Nil
₹4,00,001 – ₹8,00,000	5%
₹8,00,001 – ₹12,00,000	10%
₹12,00,001 – ₹16,00,000	15%
₹16,00,001 – ₹20,00,000	20%
₹20,00,001 – ₹24,00,000	25%
Above ₹24,00,000	30%

✅ Section 87A rebate: zero tax up to ₹12 lakh taxable income — effectively ₹12.75 lakh for salaried with the ₹75,000 standard deduction.

Old Tax Regime Optional · with deductions

Up to ₹2,50,000	Nil
₹2,50,001 – ₹5,00,000	5%
₹5,00,001 – ₹10,00,000	20%
Above ₹10,00,000	30%

💡 Keeps 80C (₹1.5L), 80D, HRA, home-loan interest and other deductions. Worth choosing only when total deductions are large — we run both computations for every client and pick the cheaper one.

. 📞 File Your ITR With Us 🧮 Calculate Your Income Tax

Chartered Accountant comparing old and new tax regime computations for a client

The regime you tick on one screen can change your tax by tens of thousands of rupees. Compute both before you file.

Which ITR form is yours?

Choosing the wrong form makes a return defective. Here's the complete map for AY 2026-27:

Form	Who it's for	Key conditions
ITR-1 (Sahaj)	Resident individuals with simple income	Total income ≤ ₹50 lakh from salary/pension, one house property, other sources; listed-equity LTCG u/s 112A up to ₹1.25 lakh. Not for directors, unlisted shares or foreign assets.
ITR-2	Individuals & HUFs without business income	Capital gains beyond ITR-1 limits, more than one house property, income above ₹50 lakh, foreign assets/income, NRIs, directors and unlisted shareholdings.
ITR-3	Individuals & HUFs with business/profession	Proprietorship business or professional income, including F&O and intraday trading, partners' remuneration from firms.
ITR-4 (Sugam)	Presumptive taxpayers	Residents with presumptive income u/s 44AD (business), 44ADA (professionals) or 44AE (transporters), total income ≤ ₹50 lakh.
ITR-5	Firms, LLPs, AOPs, BOIs	All partnership firms and LLPs (not individuals, not companies).
ITR-6	Companies	All companies other than those claiming section 11 exemption.
ITR-7	Trusts & institutions	Charitable trusts, political parties, research institutions filing under sections 139(4A)–(4D).

Documents checklist

Gather these before you start — a complete file means a faster, mismatch-free return:

🪪PAN & AadhaarLinked and active — mandatory for filing and e-verification.

📄Form 16From every employer you worked with during the year.

📊Form 26AS, AIS & TISDownload from the portal — your return must reconcile with these.

🏦Bank statements & interest certificatesSavings and FD interest is taxable even when small.

📈Capital gains statementsFrom brokers and mutual fund RTAs (CAMS/KFintech).

🏠Home loan certificate / rent receiptsFor interest deduction or HRA claims under the old regime.

💊Investment & insurance proofs80C, 80D, NPS and donation receipts — old regime claims.

🌍Foreign income/asset detailsForeign bank accounts, ESOPs, shares — disclosure is compulsory.

✅Pre-validated bank accountRefunds are credited only to a validated account linked to PAN.

Tax payable, refunds & the refund process

If TDS and advance tax paid exceed your final liability, the excess comes back as a refund — with interest under section 244A in many cases. Here's the journey from filing to money-in-bank:

File the return & pay any balance tax

Self-assessment tax, if due, is paid before submission. If you've overpaid through TDS, the return itself becomes your refund claim.

By 31 July 2026

E-verify within 30 days

Aadhaar OTP is the fastest route. An unverified return is treated as never filed — the single most common reason refunds never arrive.

Takes 2 minutes

CPC processes — intimation u/s 143(1)

The Centralised Processing Centre matches your figures with 26AS/AIS and issues an intimation showing refund, demand or no change.

Typically 2–6 weeks

Refund credited to your bank

Sent only to a pre-validated account linked to PAN. Most refunds land within 4–8 weeks of e-verification; simple salaried returns are often faster.

Track on the portal or NSDL

🔎 Refund stuck? The usual suspects: return not e-verified, bank account not pre-validated, 26AS/AIS mismatch, or an old outstanding demand being adjusted under section 245. Each has a specific remedy — we resolve these for clients across NCR routinely.

Test yourself: the 30-question ITR quiz

Answer one question at a time — instant feedback with explanations. Score 25+ and you're sharper than most filers. 🎯

ITR FY 2025-26 Knowledge Quiz

30 questions · instant explanations · no sign-up

30 frequently asked questions

Straight answers to the questions taxpayers in Hapur, Ghaziabad, Noida and Delhi ask us every filing season:

File your ITR with Chartered Accountants who do this every day

Regime optimisation, capital gains, business income, NRI returns and refund follow-up — handled end to end by Lalit Tyagi & Company for clients across Hapur, Ghaziabad, Noida and Delhi NCR.

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