Income Tax Return Filing Guide: Step-by-Step for AY 2026-27
Filing your Income Tax Return (ITR) sounds scary, but once you know which form to use, which regime fits you and what documents to keep ready, it's a 30-minute job. This guide walks you through everything for FY 2025-26 (AY 2026-27), the return you file in 2026.
Key Takeaways
- ITR-1 and ITR-2 were due on 31 July 2026. Missed it? You can still file a belated return till 31 December 2026.
- Non-audit business and professional cases (ITR-3/ITR-4) had time till 31 August 2026. Audit cases now have till 21 November 2026.
- Under the new regime, there's zero tax up to ₹12 lakh of income (₹12.75 lakh for salaried, thanks to the ₹75,000 standard deduction).
- Always match your return with AIS, TIS and Form 26AS before submitting.
- Filing isn't complete until you e-verify within 30 days.
Who must file an ITR?
You must file a return if your gross total income (before deductions) is above the basic exemption limit: ₹4 lakh under the new regime, or ₹2.5 lakh under the old regime (₹3 lakh for senior citizens and ₹5 lakh for super senior citizens).
Even if your income is below the limit, filing is mandatory if during the year you:
- Deposited more than ₹1 crore in one or more current accounts, or ₹50 lakh or more in savings accounts
- Spent more than ₹2 lakh on foreign travel, or more than ₹1 lakh on electricity bills
- Had TDS/TCS of ₹25,000 or more (₹50,000 for senior citizens)
- Had business turnover above ₹60 lakh, or professional receipts above ₹10 lakh
- Hold any foreign asset or signing authority in a foreign account (as a resident)
ITR due dates for AY 2026-27
| Who | Due date |
|---|---|
| Salaried, pensioners, capital gains (ITR-1, ITR-2) | 31 July 2026 |
| Business/profession, no audit (ITR-3, ITR-4) | 31 August 2026 |
| Tax audit cases | 21 November 2026 (extended from 31 October) |
| Transfer pricing cases | 30 November 2026 |
| Belated return | 31 December 2026 |
| Revised return | 31 March 2027 |
Which ITR form should you use?
| Form | Who uses it |
|---|---|
| ITR-1 (Sahaj) | Resident individuals with income up to ₹50 lakh from salary, one house property, other sources (interest etc.) and LTCG on listed shares up to ₹1.25 lakh |
| ITR-2 | Individuals and HUFs with capital gains, more than one house property, foreign income or assets, or income above ₹50 lakh, but no business income |
| ITR-3 | Individuals and HUFs with business or professional income (including F&O traders) |
| ITR-4 (Sugam) | Residents opting for presumptive taxation under 44AD, 44ADA or 44AE, with income up to ₹50 lakh |
Old vs new tax regime
The new regime is the default. It has lower rates but almost no deductions. The old regime has higher rates but lets you claim deductions like 80C, 80D and HRA.
New regime slabs (FY 2025-26)
| Taxable income | 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% |
Old regime slabs (below 60 years)
| Taxable income | Rate |
|---|---|
| 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% |
| Particulars | New Regime | Old Regime |
|---|---|---|
| Standard deduction (salary/pension) | ₹75,000 | ₹50,000 |
| Rebate under 87A | Up to ₹60,000 (income up to ₹12 lakh) | Up to ₹12,500 (income up to ₹5 lakh) |
| 80C, 80D, HRA, home loan interest (self-occupied) | Not allowed | Allowed |
| Employer's NPS contribution 80CCD(2) | Allowed | Allowed |
Health and Education Cess of 4% applies on top of tax in both regimes.
Worked example
Riya is salaried with a gross salary of ₹12,50,000 and no other income. Here's her tax under the new regime:
Want your exact number under both regimes? Try our free income tax calculator.
Calculate now →Documents checklist
- PAN and Aadhaar (they must be linked)
- Form 16 from your employer (Form 16A for other TDS)
- AIS, TIS and Form 26AS, downloaded from the income tax portal
- Bank statements and interest certificates for savings, FDs and RDs
- Capital gains statements from your broker and mutual fund RTAs (CAMS, KFintech)
- Investment proofs for 80C, 80D etc., if you're choosing the old regime
- Rent receipts and landlord's PAN if claiming HRA (old regime)
- Home loan interest certificate, if applicable
- Pre-validated bank account on the portal for your refund
How to file ITR online, step by step
- Log in to the e-filing portal at incometax.gov.in using your PAN and password.
- Check AIS and TIS under Services. Every salary credit, interest, dividend and share sale reported to the department appears here. Give feedback if anything is wrong.
- Go to e-File → Income Tax Returns → File Income Tax Return and select AY 2026-27.
- Choose online mode, your status (Individual/HUF), and the ITR form that applies to you.
- Select your tax regime, then review the pre-filled data: personal details, salary, interest and TDS.
- Add missing income and deductions. Don't skip savings interest or FD interest, even if no TDS was deducted.
- Check the tax computation. If tax is payable, pay it through e-Pay Tax as self-assessment tax before submitting.
- Preview and submit the return.
- E-verify using Aadhaar OTP, net banking, or a bank/demat EVC. You can also post a signed ITR-V to CPC Bengaluru.
Common mistakes to avoid
- Ignoring AIS mismatches. This is the biggest reason for notices. Your return should match what the department already knows.
- Leaving out interest income. Savings and FD interest are taxable, even if the bank didn't deduct TDS.
- Choosing the wrong form, such as ITR-1 when you sold shares or mutual funds during the year.
- Not reporting exempt income, like PPF interest or agricultural income. It has its own schedule.
- Wrong bank details, which delay your refund. Pre-validate your account on the portal.
- Forgetting to e-verify, which makes the whole return invalid.
FAQs
I missed the 31 July deadline. Can I still file?
Yes. You can file a belated return till 31 December 2026, with the late fee under Section 234F and interest under Section 234A if tax is due. You'll lose the right to carry forward most losses.
How do I check my refund status?
Log in to the e-filing portal and go to e-File → Income Tax Returns → View Filed Returns. Refunds usually arrive within a few weeks of processing, directly in your pre-validated bank account.
I made a mistake in my filed return. What now?
You can file a revised return for AY 2026-27 till 31 March 2027, as long as the original hasn't been assessed. Just select "Revised" and enter the original acknowledgement number.
My income is below ₹12 lakh. Do I still need to file?
If your gross income is above the basic exemption limit of ₹4 lakh, yes. The rebate brings your tax to zero, but it doesn't remove the filing requirement.
Which regime is better for me?
If your total deductions (80C, 80D, HRA, home loan interest etc.) are small, the new regime usually wins. If they're large, compare both. Our income tax calculator shows the numbers side by side.
Need help filing your ITR?
Our CA team handles salary, capital gains, business and NRI returns end to end, with AIS matching and regime comparison included.
Talk to The Finance MenThis article is for general information only and is based on the law applicable to FY 2025-26 (AY 2026-27) as on the date of update. Please consult a professional for advice on your specific situation.