Income Tax Return (ITR) filing is the mandatory process of submitting a statement to the Income Tax Department, detailing an individual or entity's annual income, deductions, exemptions, and taxes paid for a financial year. It acts as proof of income, allows for tax refunds, and is required if income exceeds the basic exemption limit.
If Your Business's Turnover Exceeds ₹60 Lakhs
If the gross turnover applicable to your business exceeds ₹60 lakhs, you are required to file an ITR.
ITR stands for Income Tax Return. It is a prescribed form through which the particulars of income earned by a person in a financial year and taxes paid on such income are communicated to the Income-tax Department.
Step 1: Go to the e-Filing portal homepage. Step 2: Click Income Tax Return (ITR) Status. Step 3: On the Income Tax Return (ITR) Status page, enter your acknowledgement number and a valid mobile number and click Continue. Step 4: Enter the 6-digit OTP received on your mobile number entered in Step 3 and click Submit.
Processing of ITR begins shortly after you E-verify your return. Usually, the ITR filed is processed within 20-45 days of e-verification.
Step 1: Log in to the e-Filing portal using your user ID and password. Step 2: On your Dashboard, click e-File > Income Tax Returns > File Income Tax Return. Step 4: In case you have already filled the Income Tax Return and it is pending for submission, click Resume Filing.
The minimum income to file an Income Tax Return (ITR) in the U.S. for the 2025 tax year depends on your filing status and age, with thresholds like $15,750 for Single filers (under 65) and $31,500 for Married Filing Jointly (both under 65). You might still need to file if you're self-employed (>$400 net earnings), had taxes withheld, or want to claim refundable credits, while in India, it's generally above ₹2.5 Lakhs (or ₹4 Lakhs under the new regime), but exceptions exist for high electricity bills or foreign assets.
No Hidden Fees A fixed fee of ₹2,499 for any ITR, covering all income sources, including salary, professional income, capital gains, crypto, and more.
The Central Board of Direct Taxes has decided to further extend the due date for filing these ITRs for AY 2025-26 from 15 September 2025 to 16 September 2025 and ITR filing last date for FY 2025-26 (AY 2026-27) is Friday, 31 July 2026.
Self-Assessment Tax: After filling out your ITR form with the TDS and advance tax details (if paid), the system computes your income and checks whether tax is still payable. You need to pay it and then fill in the challan details in the return before submitting it.
For complete details and guidelines please refer Income Tax Act, Rules and Notifications.
The ITR is considered by banks and other financial institutions as evidence of income, financial stability, and ability to repay the loan. It is important to submit your ITR on time and correctly because any errors or non-filing can cause the rejection of loan applications.
An individual whose sole income has been subjected to final withholding tax pursuant to Sec. 57 (A) of the Tax Code, or who is exempt from income tax pursuant to the Tax Code and other laws, is not required to file an income tax return.
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One of the features is “Pay later,” which enables an individual to file an Income tax return (ITR) before making the tax payments. Previously, an ITR could only be filed after the due taxes were paid. It is inconvenient for taxpayers, especially those waiting for salary or other income sources.
Yes, you can file your ITR without a CA via our DIY plans. Click here to check out the plans. What is assisted filing? Get an expert to do your taxes for an individual with all kinds of income.
MyITReturn
The portal offers free e-filing facility to salaried employees with income less than Rs. 2.50 lakh. Taxpayers with higher income have paid plans for them, starting from Rs. 199 plus taxes.
Every person having taxable income and whose accounts are not liable to audit must file an Income Tax Return. If total income exceeds Rs. 5 lakh, it is mandatory to file the return online. Self-assessment tax liability should be paid before filing Income Tax Return; otherwise return will be treated as defective.
Simple Steps to file ITR Online
Common ITR Filing Mistake 1: Missing the Filing Deadline
The most avoidable mistake is missing the due date. For most individual taxpayers, the deadline for FY 2024-25 is 15th September 2025 (extended from July 31).
The short answer is: No, you do not need to file ITR for income less than 2.5 LPA (Lakhs Per Annum).
Just because you reside in the U.S. does not mean you have to go back to India to file your Indian income tax return. Today, there exists a process of electronically filing your returns, allowing you to do your job without having to physically go to India.
ITR Filing Charges:
Salaried ITR Filing: ₹1,000/- Capital Gain / Share Gain-Loss ITR: ₹1,500/- Business ITR – 44AD Return: ₹2,000/- All other ITR Filing: ₹3,000/-
7. What documents do I need to file ITR-4? Is it necessary to link Aadhaar with PAN to file ITR?