HOW TO DO ONLINE INCOME TAX RETURN (ITR) FILING IN INDIA?
Filing your income tax return (ITR) has evolved from a mountain of paperwork into a sleek, digital-first experience. With the Income Tax Portal 2.0, the Government of India has essentially turned a once-dreaded chore into a task you can handle from your couch.
At Advocate Debabrata & Co., we’re keeping you ahead of the curve. For Assessment Year (AY) 2026-27, the landscape has shifted—the New Tax Regime is now your default setting, and the slabs have been widened to offer more relief. Here’s how to navigate the process like a pro.
- The Digital Blueprint: Step-by-Step Filing
The e-filing portal is designed to be intuitive, but accuracy is everything. Follow these steps:
- Access the Portal: Head to the official e-filing website. Log in with your PAN as your User ID.
- Initiate Filing: Go to e-File > Income Tax Returns > File Income Tax Return.
- Select AY: 2026-27.
- Mode: Online.
- Status: Individual.
- Validate Pre-filled Data: The portal uses your Annual Information Statement (AIS) to fill in the blanks. Check your salary, interest, and dividend details. If you notice a discrepancy, correct it now rather than later.
- The Regime Choice: The system defaults to the New Tax Regime. If you have significant investments (LIC, Home Loan interest, 80C) and want to use the Old Regime, you must explicitly opt out of the New one.
- Calculate & Pay: The portal auto-calculates your tax.
- Owe money? Pay via UPI, Net Banking, or Credit Card immediately.
- Due a refund? Double-check that your bank account is pre-validated so the money finds its way home.
- The Final Seal (E-Verify): This is the “submit” button that actually counts. You have 30 days to e-verify (usually via Aadhaar OTP). If you miss this, your return is considered invalid—as if you never filed it.
+2
- Which ITR Form Should You Pick?
Choosing the wrong form is a classic “rookie mistake” that can lead to a defective return notice.
Form | Who is it for? |
ITR-1 (Sahaj) | For residents with income up to ₹50 Lakh, salary, one house property, and other sources (like interest). |
ITR-2 | For individuals with Capital Gains, more than one house property, or foreign assets/income. |
ITR-3 | For individuals/HUFs earning income from a Business or Profession (non-presumptive). |
ITR-4 (Sugam) | For small businesses and professionals opting for Presumptive Taxation. |
- Do You Need to File?
For AY 2026-27, filing is mandatory if:
- Income Threshold: Your income exceeds ₹4 Lakh (New Regime) or ₹2.5 Lakh (Old Regime).
- Note: Under the New Regime, a rebate makes income up to ₹12 Lakh effectively tax-free, but you still need to file to claim that benefit!
- High Spenders: You spent >₹2 Lakh on foreign travel or >₹1 Lakh on electricity bills.
- Foreign Assets: You hold assets or signing authority outside India.
- Refund Claims: You want to get back TDS deducted by your bank or employer.
- Your Pre-Filing Checklist
Before you start, gather these “usual suspects” to avoid mid-process panic:
- PAN & Aadhaar: Must be linked.
- Form 16: Your employer’s summary of your salary and taxes.
- AIS & Form 26AS: To cross-verify all taxes paid and high-value transactions.
- Interest Certificates: From your bank/post office.
- Investment Proofs: Only necessary if you are opting for the Old Regime.
- Why It Matters (Beyond the Law)
Filing isn’t just about staying out of trouble; it’s a financial resume.
- Loan Approvals: Banks love a 3-year ITR history for Home or Car loans.
- Visa Entry: Most embassies (US, UK, Canada) check your ITR to gauge financial stability.
- Carry Forward Losses: If you had a bad year in the stock market, you can only offset those losses against future gains if you file on time.
Pro Tip: The deadline for individual filing is July 31, 2026. Don’t wait until July 30th when the website traffic looks like a Mumbai traffic jam!
Need a hand with the technicalities?
If your tax situation is more “complex puzzle” than “simple math,” we’re here to help.
Contact Us:
Advocate Debabrata & Co.
📞 9090777177