This guide covers the return for FY 2025-26, which is Assessment Year 2026-27, from the first question (do you need to file at all?) to the last step (e-verifying). It is written so that a first-time filer can follow it, and so that someone who filed last year can check what has changed.
It covers the process. For every date and every late-filing consequence, see our guide to ITR due dates for AY 2026-27. If you would rather hand the whole thing to a CA, see our income tax return filing service.
Quick answers
- Which year is this? Income earned from 1 April 2025 to 31 March 2026 (FY 2025-26), filed as AY 2026-27.
- Which law applies? The Income-tax Act, 1961. The Income-tax Act, 2025 came into force on 1 April 2026 but applies from Tax Year 2026-27, which you will file in 2027.
- Due dates: 31 July 2026 for non-audit individuals, 31 August 2026 for non-audit business and professional cases, 31 October 2026 where an audit applies, and 30 November 2026 for transfer pricing cases.
- Missed it? A belated return can be filed up to 31 December 2026 with a late fee, and a revised return up to 31 March 2027.
- Which regime? The new regime under section 115BAC is the default. The old regime has to be chosen in a return filed by the due date.
- Last step: e-verify within 30 days. An unverified return is invalid.
Do you need to file at all?
You must file if your total income before deductions is above the basic exemption limit for your regime. For FY 2025-26 that is ₹4,00,000 in the new regime and ₹2,50,000 in the old regime if you are below 60. You must also file, whatever your income, if during the year you:
- deposited more than ₹1 crore in one or more current accounts;
- deposited more than ₹50 lakh in savings accounts;
- spent more than ₹2 lakh on foreign travel for yourself or someone else;
- paid electricity bills of more than ₹1 lakh;
- had business turnover above ₹60 lakh, or professional receipts above ₹10 lakh;
- had TDS and TCS of ₹25,000 or more (₹50,000 or more for senior citizens);
- held any asset outside India, or signing authority over a foreign account, as a resident. NRIs with Indian income should see ITR filing for NRIs.
You should also file if you have income from more than one employer or source, because two Form 16s rarely add up to the right tax on their own, and if TDS was deducted and you want it back. Even where filing is optional, a return on record helps with loans, visa applications and carrying forward losses.
The words you will see on the portal
| Term | What it means |
|---|---|
| FY (financial year) | The year you earned the income: 1 April 2025 to 31 March 2026 |
| AY (assessment year) | The year you file for it: select AY 2026-27 for FY 2025-26 income |
| PAN | Permanent Account Number, your tax identity and your login ID on the portal |
| TDS | Tax deducted at source: tax your employer, bank or client has already deducted and paid in against your PAN |
| ITR form | The form you file, which depends on your income sources: ITR-1 to ITR-7 |
| e-filing | Filing the return online at incometax.gov.in |
| e-verification | Confirming the return you filed, usually by Aadhaar OTP or net banking |
| Form 16 | The TDS certificate from your employer, the starting document for a salaried filer |
| Form 26AS | Your tax passbook: TDS, TCS, advance tax and self-assessment tax credited to your PAN |
| AIS | Annual Information Statement: the wider record of salary, interest, dividends, share sales and other transactions reported against your PAN |
Before you start
Step 1: link PAN and Aadhaar
Do this first. An unlinked PAN becomes inoperative, and you cannot file or e-verify a return on it. If you are not sure of the status, check it before anything else; we can help through our PAN and Aadhaar linking service, and if you have no PAN yet, start with PAN registration.
Step 2: collect your documents
- Form 16 from each employer. Employers issue it by 15 June 2026, so it should already be with you.
- Form 16A for TDS on non-salary income such as interest or professional fees, Form 16B for TDS on a property you sold, and Form 16C for TDS on rent.
- Form 26AS and the AIS, downloaded from the portal.
- Bank statements and interest certificates, and capital gains statements from your broker or mutual fund.
- Proof of deductions, if you will use the old regime.
- Last year's ITR, to carry forward any losses.
Our full list, by type of taxpayer, is in documents required for ITR filing.
A pre-validated bank account for your refund
Refunds are paid only to a bank account that is pre-validated on the portal and linked to your PAN. Check this under your profile before you file. A refund that fails because the account was not validated is one of the most avoidable delays there is.
Which ITR form applies to you
| Form | Who it is for | Key limit |
|---|---|---|
| ITR-1 (Sahaj) | Resident individual with salary or pension, house property and other income such as interest. See ITR filing for salaried taxpayers | Total income up to ₹50 lakh; not for directors, holders of unlisted shares or anyone with foreign assets |
| ITR-2 | Individuals and HUFs with capital gains, foreign income or assets, or director status, and no business income | No business or professional income |
| ITR-3 | Individuals and HUFs with business or professional income, including F&O trading | The catch-all for business income |
| ITR-4 (Sugam) | Resident individual, HUF or firm (not an LLP) declaring presumptive income under 44AD, 44ADA or 44AE. See ITR filing for freelancers | Total income up to ₹50 lakh |
| ITR-5 to ITR-7 | Firms, LLPs, companies, trusts and similar entities | Entity-specific |
The portal may suggest a form, but you are responsible for the choice. A return in the wrong form can be treated as defective under section 139(9). Our guide on which ITR form to file covers F&O, crypto, director and NRI cases.
Filing on the portal, step by step
- Log in at incometax.gov.in with your PAN as the user ID. A first-time user registers and verifies identity by Aadhaar OTP or net banking.
- Go to e-File, then Income Tax Returns, then File Income Tax Return.
- Select Assessment Year 2026-27, the mode (online, or the offline utility), and the filing type: original, revised or updated.
- Choose your status (individual, HUF and so on) and the ITR form.
- Check the pre-filled personal details: name as per PAN, Aadhaar and the refund bank account.
- Choose your tax regime.
- Review the pre-filled income, then add anything the portal did not pre-fill.
- Claim deductions, if you are on the old regime.
- Let the portal compute the tax against TDS already paid. Pay any balance before you submit.
- Submit, then e-verify within 30 days.
Verify the pre-filled data rather than retyping it
Most salary and interest figures pre-fill from the AIS. Verify them against Form 16, Form 26AS and your bank statements rather than retyping them. Where the AIS is wrong, for example a sale reported twice, give feedback on the AIS and report the correct figure, keeping your proof.
Paying balance tax with Challan 280
If the computation shows tax payable, pay it as self-assessment tax through Challan 280 on the portal's e-Pay Tax service before you submit, and enter the challan details (BSR code, date and challan number) in the return. Interest under section 234A runs at 1% a month on tax unpaid after the due date, so pay as early as you can.
E-verify within 30 days
E-verify by Aadhaar OTP, net banking, a pre-validated bank or demat account, or send a signed ITR-V by post, within 30 days of filing. If you verify later, the verification date is treated as the filing date, so a return filed on time can turn into a late one. A return that is never verified is invalid, as if you had not filed. This is the most common first-time filer failure. More in ITR e-verification and refund status.
Choosing your regime
| New regime (default) | Old regime (opt in) | |
|---|---|---|
| Basic exemption (below 60) | ₹4,00,000 | ₹2,50,000 |
| Section 87A rebate | Up to ₹60,000, taxable income up to ₹12 lakh | Up to ₹12,500, taxable income up to ₹5 lakh |
| Standard deduction (salary or pension) | ₹75,000 | ₹50,000 |
| 80C, 80D, HRA, home loan interest | Mostly not allowed | Allowed |
New regime slabs for FY 2025-26: nil up to ₹4,00,000; 5% to ₹8,00,000; 10% to ₹12,00,000; 15% to ₹16,00,000; 20% to ₹20,00,000; 25% to ₹24,00,000; 30% above. With the rebate, taxable income up to ₹12 lakh pays no tax, and a salaried filer pays none up to roughly ₹12.75 lakh after the ₹75,000 standard deduction. The rebate does not cover special-rate income such as capital gains.
The new regime allows only a few deductions, chiefly the standard deduction and the employer's NPS contribution under section 80CCD(2). Our new vs old tax regime comparison works the numbers, and our tax planning team can run them on yours.
What the old regime still lets you claim
- Section 80C, up to ₹1.5 lakh: EPF, PPF, ELSS, life insurance, home loan principal, children's tuition fees.
- Section 80D: health insurance premiums. The limit depends on who is covered and their age.
- Section 80CCD(1B): an extra ₹50,000 for your own NPS contribution, over and above 80C.
- Section 80E: interest on an education loan, for up to eight years.
- Section 80G: donations to eligible institutions, with the donee's certificate.
- Section 24(b): home loan interest on a self-occupied house, up to ₹2 lakh.
- HRA and LTA exemptions for salaried employees.
Form 10-IEA if you have business income
If you have no business income, you choose the regime in the return itself each year, but the old regime is available only in a return filed by the section 139(1) due date. A belated return is taxed under the new regime. If you have business or professional income, you opt out of the new regime by filing Form 10-IEA by the due date, and after that you get only one switch back. See ITR filing for business.
Due dates for AY 2026-27
The date turns on audit liability, not on the form you use. Non-audit individuals: 31 July 2026. Non-audit business and profession: 31 August 2026, under section 139(1) as amended by the Finance Act, 2026. Cases liable to tax audit: 31 October 2026. Transfer pricing cases: 30 November 2026.
Belated return: 31 December 2026, with a late fee under section 234F of ₹1,000 where total income is up to ₹5 lakh and ₹5,000 otherwise. Revised return: 31 March 2027. Updated return (ITR-U): within 48 months from the end of the assessment year, with additional tax of 25% to 70% of tax and interest. The full picture, including what you lose by filing late, is in ITR due dates for AY 2026-27 and belated, revised and updated returns.
What triggers a notice
- A mismatch between your return and Form 26AS or the AIS, the most common trigger of all.
- Not reporting savings or FD interest that the department already has on record.
- Claiming more TDS than appears in Form 26AS.
- Not reporting capital gains on property, shares or mutual funds.
- Claiming 80C or 80D deductions for investments you did not actually make.
- Filing the wrong ITR form, which leads to a defective return notice under section 139(9).
- A refund failing because the bank account was not pre-validated.
If a notice or a section 143(1) intimation does arrive, read the reply window first. Our income tax notice reply team handles responses.
Common mistakes, and the ones first-time filers make
- Not e-verifying after filing. The return is not valid until it is verified.
- Using the wrong ITR form for your income.
- Not reporting interest from savings accounts and FDs. The AIS captures it automatically.
- Forgetting eligible deductions under the old regime, and leaving refund money on the table.
- Figures that do not match Form 16, especially when you changed jobs and have two Form 16s.
- Choosing a regime out of habit instead of computing tax both ways.
- Entering wrong bank details, which delays the refund.
More in common ITR filing mistakes to avoid. If you spot an error after filing, file a revised return by 31 March 2027.
Is filing on the portal free?
Yes. There is no government fee to file an income tax return at incometax.gov.in. You pay only if you engage a CA to prepare and file it for you; Regikart's professional fee for a standard individual return starts at ₹999. Late fees and interest, where they apply, are paid to the department, not to us.
On refunds: no fixed timeline applies, because a refund is issued only after the return is e-verified and processed. Where a refund is delayed, the department pays interest under section 244A at 0.5% a month; for a belated return that interest is computed from the date you actually filed.
What changes from Tax Year 2026-27
Everything above is under the Income-tax Act, 1961. From Tax Year 2026-27 (1 April 2026 to 31 March 2027) the Income-tax Act, 2025 applies. A single tax year replaces the previous year and assessment year pair, the return is filed under section 263, the late fee moves to section 428 at the same ₹1,000 and ₹5,000, the updated return is section 263(6), and the revised return window is 12 months from the end of the tax year. New return forms are to be notified by the department. Those returns are due in July 2027 for non-audit individuals, and the rates for Tax Year 2026-27 are the same as for FY 2025-26.
Read more in the tax year concept explained and the Income-tax Act, 2025 explained.
Key takeaways
- AY 2026-27 covers FY 2025-26 income and is filed under the Income-tax Act, 1961.
- Link PAN and Aadhaar first, and pre-validate your refund bank account.
- Due dates: 31 July 2026 (non-audit individuals), 31 August 2026 (non-audit business and profession), 21 November 2026 (audit).
- The new regime is the default; the old regime needs a return filed by the due date, or Form 10-IEA if you have business income.
- Pay any balance through Challan 280 before you submit.
- E-verify within 30 days, or the return is invalid.
File with a CA
If your return involves capital gains, business income, foreign assets or a past notice, a CA can pick the form, reconcile your AIS and compute both regimes before you file. See our income tax return filing service, or contact us and call or WhatsApp +91 70444 94804. Regikart works from Kolkata (head office), Delhi and Bengaluru, and files for 250+ clients across India online.
Frequently asked questions
Who has to file an ITR for AY 2026-27?
Anyone whose total income before deductions is above the basic exemption limit (₹4 lakh in the new regime, ₹2.5 lakh in the old regime below 60), and anyone who meets a mandatory trigger, such as deposits above ₹1 crore in current accounts or ₹50 lakh in savings accounts, foreign travel above ₹2 lakh, or TDS and TCS of ₹25,000 or more.
ITR pehli baar kaise file karein?
Pehle PAN aur Aadhaar link karein, phir Form 16, Form 26AS aur AIS download karein. incometax.gov.in par login karke AY 2026-27 aur sahi ITR form chunein, pre-filled data check karein, regime select karein, balance tax Challan 280 se bharein, aur submit karke 30 din ke andar e-verify karein.
Is the new tax regime compulsory for AY 2026-27?
No, it is the default. The old regime is available only in a return filed by the section 139(1) due date. Taxpayers with business income elect it in Form 10-IEA, with one switch back permitted.
When will I get Form 16?
Employers issue Form 16 for FY 2025-26 by 15 June 2026. If you changed jobs, you should have one from each employer, and you must report the salary from both.
Can I file my ITR after 31 July 2026?
If you have business or professional income and no audit, your due date is 31 August 2026. Otherwise you can file a belated return up to 31 December 2026, with a late fee of ₹1,000 or ₹5,000 under section 234F and interest on unpaid tax. A belated return is taxed under the new regime if you have no business income.
How do I pay tax due before filing?
Pay it as self-assessment tax through Challan 280 on the portal's e-Pay Tax service, then enter the BSR code, date and challan number in the return before you submit.
What is the difference between Form 26AS and the AIS?
Form 26AS is your tax passbook: TDS, TCS and tax you have paid. The AIS is wider and also shows salary, interest, dividends, share and mutual fund sales and other reported transactions. Check your return against both.
How long do I have to e-verify my return?
30 days from filing. If you verify later, the verification date is treated as the filing date. A return that is never verified is invalid.
Is filing on the government portal free?
Yes. There is no government fee to file an ITR. You pay only if you engage a CA to prepare and file it for you.
Is income up to ₹12 lakh really tax-free?
In the new regime for FY 2025-26, yes for normal slab income: the section 87A rebate of up to ₹60,000 covers taxable income up to ₹12 lakh, which is roughly ₹12.75 lakh of salary after the ₹75,000 standard deduction. The rebate does not cover capital gains or other special-rate income.
What happens if I file the wrong ITR form?
The return can be treated as defective under section 139(9), and you will be asked to correct it within the time allowed. You can also file a revised return in the correct form by 31 March 2027.
How long does an income tax refund take?
There is no fixed timeline. A refund is issued after the return is e-verified and processed, to a pre-validated bank account. If it is delayed, interest under section 244A generally runs at 0.5% a month.
About the author
Regikart CA Team
Chartered Accountants at Regikart. Want to discuss this in the context of your business?
