Complete Guide & Document Checklist
How to File ITR for Salaried Individuals
Step-by-step process, required documents checklist, costs, timeline, and frequently asked questions
If your annual income exceeds the basic exemption limit, you need to file an Income Tax Return. For FY 2025-26 (AY 2026-27), salaried individuals must file by 31st July 2026. Under the new tax regime (now the default), the basic exemption is Rs. 3 lakhs - but with the Section 87A rebate, income up to Rs. 7 lakhs is effectively tax-free.
The Income Tax Department has made filing pretty straightforward through their e-Filing portal at incometax.gov.in. If you're salaried, most of your data is already pre-filled from Form 26AS, the Annual Information Statement (AIS), and your employer's Form 16. Filing on time means you can carry forward losses, get faster refunds, and avoid the Section 234F late filing fee.
Timeline
1-3
days (if all documents are ready)
Cost
Government fee: Free (self-filing on incometax.gov.in)
Professional assistance: Rs. 499-1,999
Who needs to file?
Your gross income exceeds Rs. 3 lakhs (new regime) or Rs. 2.5 lakhs (old regime)
You have income from house property, capital gains, or other sources
You have more than one Form 16 (multiple employers during the year)
You've paid taxes abroad and want to claim foreign tax credit
You want a refund for excess TDS that your employer or bank deducted
You have high-value transactions flagged in your Annual Information Statement (AIS)
You need ITR as proof for loans, visas, or tender applications
Documents required
Click on any document to see detailed requirements and how to obtain it
16
Total Documents
5
Required
0
Ollvy Handles
Income Documents
Proof of all your income sources
PAN Card
REQmandatory for filing - and must be linked with Aadhaar
Aadhaar Card
REQfor e-verification of return - Aadhaar OTP is the fastest way to verify
Form 16
REQTDS certificate from employer - issued annually by June 15 for the previous financial year
Salary Slips (Last 3 Months)
useful if Form 16 is not yet received or if perquisites need verification
Bank Statements (All Accounts)
REQall savings and current accounts active during the financial year - for interest income and reconciliation
Bank Interest Certificate / Form 16A
for FD interest and TDS deducted on deposits - issued by your bank
Form 26AS and Annual Information Statement (AIS)
REQdownload both from incometax.gov.in - cross-verify with all other documents before filing
Rental Income Proof
rent receipts or agreement - if you receive rent from any property
Deduction Proofs
Documents for claiming tax deductions - old tax regime only
80C Investment Proofs
up to ₹1.5 lakh deduction - only available if you choose old tax regime
Home Loan Statement
interest certificate from lender - for Section 24(b) deduction on home loan interest
Health Insurance Premium (Section 80D)
for self, spouse, children, and parents - premium receipts from insurer
Donation Receipts (Section 80G)
50% or 100% deduction depending on recipient - retain receipt and Form 10BE
Capital Gains Documents
If you sold shares, property, or other assets
Stock Trading Statements (Capital Gains)
Profit and Loss statement from your broker - not the portfolio statement
Mutual Fund Statements (Capital Gains)
consolidated statement from CAMS or KFintech - for equity and debt fund redemptions
Property Sale Documents
sale deed, cost of acquisition, and stamp duty value - for property capital gains
Previous Year ITR Acknowledgment
ITR-V from last year - for carry-forward losses and continuity
PAN Card
Income Documents
What is this?
PAN is your taxpayer ID - it is how the Income Tax Department tracks every rupee of income, TDS deducted on your behalf, and taxes paid. ITR filing is done under your PAN. From AY 2024-25, the new tax regime is the default - you choose whether to stick with it or switch to the old regime each year when filing. If you file via a CA (like Ollvy's CA), your PAN is used to log in to the Income Tax portal and file.
How to get it
You almost certainly already have a PAN. If not, apply at NSDL or UTIITSL - takes 5-7 days and costs ₹107. Before filing, ensure PAN is linked with Aadhaar at incometax.gov.in/iec/foportal - unlinked PANs became inoperative from July 2023 and you cannot file a return with an inoperative PAN. Linking takes 2-3 days if not already done.
Common Issues
PAN-Aadhaar linkage is the #1 issue that stops people from filing. Check it early. A common issue is PAN showing up as inoperative even after paying the ₹1,000 linkage fee - the portal takes 3-5 days to update after payment. If you have changed your name (after marriage, for example), update your PAN records before filing to avoid mismatches with bank and employer records.
Requirements
- 01Mandatory for all ITR filings - filing is not possible without PAN
- 02PAN must be linked with Aadhaar - check at incometax.gov.in before filing
- 03Inoperative PAN (not linked with Aadhaar) cannot be used for filing from July 2023
- 04Linking PAN with Aadhaar costs ₹1,000 late fee if done after June 30, 2023
- 05Name change after marriage: update PAN name to match bank and employer records
Ready to file your ITR?
Just share your documents with us. Ollvy's CAs review everything, maximize your deductions, and file your return correctly.
File My ITRStep-by-step process
Gather your documents
Get your Form 16 from your employer, download Form 26AS and AIS from the Income Tax portal, pull your bank statements and interest certificates, and gather details of any investments you made for deductions under Chapter VI-A.
Pick the right ITR form
If your income is only from salary and one house property, use ITR-1 (Sahaj). Got capital gains, foreign income, or more than one house property? You need ITR-2. Business income means ITR-3 or ITR-4.
Decide between new and old tax regime
Compare your tax liability under both regimes. The new regime has lower slab rates but almost no deductions (except Rs. 75,000 standard deduction for salaried). The old regime lets you claim 80C (Rs. 1.5 lakh), 80D, HRA, and other deductions. Pick whichever results in lower tax.
Log in to the e-Filing portal
Visit incometax.gov.in and log in with your PAN. Go to "File Income Tax Return" and select AY 2026-27 for income earned in FY 2025-26.
Check pre-filled data and add missing income
Review the pre-filled salary, TDS, and other income data. Fix any errors. Add income from interest, rental, capital gains, or other sources that might not be pre-filled.
Enter deductions and compute tax
Under the old regime, enter all your eligible deductions (80C, 80D, HRA, LTA, etc.). The portal calculates your final tax liability or refund automatically after accounting for TDS already paid.
Verify and submit
Review the return summary. If you owe tax, pay it via Challan 280 before submitting. Submit and e-verify immediately using Aadhaar OTP, net banking, or DSC. E-verification is mandatory - without it, your return won't be processed.
Frequently Asked Questions
What's the last date to file ITR for FY 2025-26 (AY 2026-27)?
For salaried individuals and those not subject to audit, it's 31st July 2026. Miss this? You can still file a belated return until 31st December 2026, but you'll pay a late fee of Rs. 5,000 (Rs. 1,000 if income is under Rs. 5 lakhs). After 31st December, you can only file through a condonation request.
Do I need to file ITR if my employer already deducted TDS?
Yes, if your gross income exceeds the exemption limit - even if TDS covered everything and you owe nothing more. Filing a return is also the only way to get a refund if your employer or bank deducted more TDS than necessary.
Which is better - new tax regime or old tax regime?
It depends on how much you're investing. If you have significant deductions under 80C, 80D, HRA, etc., the old regime often works out better. If you don't have many investments or deductions, the new regime's lower slab rates usually win. Run the numbers on a tax calculator before choosing.
What if I file ITR after 31st July but before 31st December?
You can file a belated return, but you'll pay Rs. 5,000 in late fees (Rs. 1,000 if income is below Rs. 5 lakhs). More importantly, if you have losses you wanted to carry forward, you lose that option when you miss the original deadline.
What is Form 26AS and why should I check it before filing?
Form 26AS shows all taxes deducted from your income by employers, banks, and others (TDS), taxes you paid directly (advance tax), and any refunds issued. Before filing, reconcile your income and TDS figures with Form 26AS - mismatches trigger notices from the Income Tax Department.
Common mistakes to avoid
- 01Using ITR-1 when you have capital gains income (you need ITR-2 for that)
- 02Not reconciling income and TDS with Form 26AS and AIS before submitting
- 03Forgetting to report interest income from savings accounts, FDs, and post office savings
- 04Not e-verifying within 30 days - this makes your return invalid
- 05Missing the deadline and losing the ability to carry forward capital losses
- 06Claiming deductions under the new tax regime that don't apply anymore
- 07Not reporting freelance income because it came in cash or without TDS