Filing your Income Tax Return (ITR) is a crucial responsibility for every taxpayer in India, ensuring compliance with tax regulations. It involves reporting all income sources, deductions, and tax liabilities to the Income Tax Department. Filing early helps avoid errors and technical issues.
Our company, White and Right, simplifies the entire Income Tax e-filing process, making it quick and easy with step-by-step guidance, auto-filled data, and assistance in choosing the right tax regime for individuals and businesses.
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Quick Steps to File Your ITR Online
- Login/Signup effortlessly.
- Select your income sources (salary, business, capital gains, etc.).
- Review auto-filled data from the IT Department.
- Compare old and new tax regime computations.
- File your ITR and receive confirmation.
Income Tax Return (ITR)
An ITR form is used by taxpayers to report income and tax payments to the Income Tax Department. Seven different ITR forms (ITR 1 to ITR 7) cater to various income sources, amounts, and taxpayer types (individuals, HUFs, companies, etc.). Accurate and timely filing is mandatory under Income Tax Law.
Who Needs to e-File an ITR?
- Salaried Individuals: Total annual income exceeding the basic exemption limit.
- Self-Employed Professionals: Income above the exemption threshold. Business expenses can be claimed as deductions.
- Business Owners (including SMEs & MSMEs): All entities must file annually, regardless of profit or loss.
- Directors and Partners: Required to file reflecting their income share and financial involvement.
- Dividend, Interest, and Capital Gains Earners: Mandatory to report and pay taxes on these incomes.
- NRIs and RNORs: NRIs with Indian income above the exemption limit; RNORs with foreign income/assets may also be required.
- Foreign Asset or Income Holders: Indian residents holding foreign assets or earning foreign income, even if taxable income is below the limit.
- High-Value Transaction Individuals (even if income is below the limit):
- Deposited ₹1 crore or more in a bank account.
- Spent over ₹2 lakh on foreign travel.
- Paid more than ₹1 lakh in electricity bills in a year.
- Claiming Tax Refunds: Necessary to file for refunds on excess tax paid.
- Charitable and Religious Trusts: Must file annually for financial transparency and compliance.
Eligibility for Income Tax e-filing in India
E-filing is mandatory if your gross total income exceeds basic exemption limits, which vary by age and chosen tax regime.
A tax regime is the structure under which your income is taxed. You can choose between the Old Tax Regime (allowing deductions and exemptions) or the New Tax Regime (lower slab rates, fewer deductions).
Old Tax Regime Exemption Limits
| Category | Exemption Limit (₹) |
|---|---|
| Individuals under 60 years | 2,50,000 |
| Individuals (60-80 years) | 3,00,000 |
| Individuals over 80 years | 5,00,000 |
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Old Tax Regime Income Tax Slabs
| Income Range (₹) | Tax Rate (%) |
|---|---|
| Up to 2,50,000 | Nil |
| 2,50,001 to 5,00,000 | 5 |
| 5,00,001 to 10,00,000 | 20 |
| Above 10,00,000 | 30 |
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New Tax Regime Income Tax Slabs (Union Budget 2025)
| Income Range (₹) | Tax Rate (%) |
|---|---|
| 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 |
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Other Mandatory Filing Scenarios (Even Below Exemption Limits)
- High-value Transactions:
- ₹1 crore or more deposited in current bank accounts.
- ₹50 lakh or more deposited in savings bank accounts.
- Over ₹2 lakh spent on foreign travel.
- Electricity expenses exceeding ₹1 lakh.
- TDS/TCS exceeding ₹25,000 (₹50,000 for senior citizens).
- Business and Professional Income:
- Businesses: Turnover/gross receipts over ₹60 lakh.
- Professionals: Gross receipts over ₹10 lakh.
Income Tax Return Forms in India
Various ITR forms cater to different taxpayer types and income sources.
Due Date for ITR e-Filing (FY 2024-25)
| Taxpayer Category | Due Date |
|---|---|
| Individuals/Entities (not liable for tax audit) | July 31, 2025 |
| Taxpayers Under Tax Audit (excluding transfer pricing) | October 31, 2025 |
| Taxpayers Covered Under Transfer Pricing | November 30, 2025 |
| Revised/Belated Return of Income for FY 2024-25 | December 31, 2025 |
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Documents Required for Income Tax e-Filing
- General Documents: PAN, Aadhaar (linked to PAN), Bank Account Details.
- Income-Related Documents: Salary Slips, Rent Receipts, Form 16, Form-16A, Form-16B, Form-16C, Form 26AS.
- Deductions and Exemptions: Interest Certificates, Home Loan Details, Proof of Tax-Saving Instruments (life insurance, PPF, NSC, ELSS, etc.).
- Capital Gains Income: Documents related to asset sales.
- Rental Income: Lease agreements and rent receipts.
- Foreign/Dividend Income: Proof of income from foreign sources and dividends.
Procedure for e-Filing of ITR in India
Two main methods: Offline to Online and Entirely Online.
e-Filing ITR Offline to Online Method:
- Download the appropriate ITR form (Excel or Java Utility) from the Income Tax Department website.
- Fill out the form offline.
- Save the form in XML format.
- Upload the XML file to the e-filing portal and submit.
Income Tax e-Filing in India Online:
- Log in to the Income Tax e-filing website.
- Enter login credentials.
- Navigate to ‘e-File’ > ‘File Income Tax Return’.
- Choose the Assessment Year and ‘Online’ filing mode.
- Select your taxpayer category.
- Choose the appropriate ITR form.
- Select the reason for filing.
- Review and edit pre-filled information.
- Review and confirm ITR details.
- Make tax payment (if applicable).
Your ITR will be submitted upon completion.
After e-Filing Your ITR
- e-verify your return: Use Electronic Verification Code (EVC), Aadhaar OTP, or send a signed ITR-V to Bengaluru within 120 days.
Steps to Track e-Filing Status:
- Visit the Income Tax e-Filing Portal and log in.
- Go to ‘e-File’ > ‘Income Tax Returns’ > ‘View Filed Returns’.
- Check the ‘Status’ column for updates.
Revised Return Filings:
If you find errors after filing (original or belated return), you can file a Revised Return by selecting the ‘Revised Return’ option during e-filing and updating the details. The deadline is December 31 of the relevant assessment year.
Belated Return Filings:
If you miss the July 31 deadline, you can file a Belated Return by December 31 of the assessment year. Penalties may apply (₹5,000 for income above ₹5 lakhs, ₹1,000 for income below ₹5 lakhs). Interest at 1% per month may be levied on unpaid tax.
Updated Return (ITR-U) Filing:
If you miss both original and belated deadlines, you can file an Updated Return (ITR-U) within four years from the end of the assessment year to declare missed income or correct errors. Additional tax and interest may apply; this cannot be used to claim refunds or reduce tax liability.
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