Which ITR Form Do You Need?

ITR Form	Who Should Use It
आईटीआर-1 (Sahaj)	Salaried individuals with income up to ₹50 lakh (salary, one house property, other sources)
आईटीआर-2	Individuals/HUFs with capital gains, foreign income, multiple properties, or directorship
आईटीआर-3	Individuals/HUFs with business or professional income (not presumptive)
आईटीआर-4 (Sugam)	Individuals/HUFs/firms under presumptive taxation (Section 44AD / 44ADA)
ITR-5	Partnership firms, LLPs, AOPs, BOIs
ITR-6	Companies (other than those claiming Section 11 exemption)
ITR-7	Trusts, political parties, research institutions

Documents Required for ITR Filing

• PAN card and Aadhaar card
• Form 16 (for salaried employees)
• Form 26AS / Annual Information Statement (AIS)
• Bank statements for all accounts
• Investment proofs: 80C (PPF, ELSS, LIC, home loan principal), 80D (health insurance), 80G (donations)
• Home loan interest certificate (for Section 24 deduction)
• Capital gain statements (for shares, mutual funds, property)
• Business P&L and Balance Sheet (for business filers)
• Audit report (if applicable under Section 44AB)

Key ITR Filing Deadlines

Category	Due Date
Individuals, proprietors (non-audit)	31 July
Businesses requiring tax audit	31 October
Businesses with transfer pricing	30 November
Belated return	31 December (with penalty)

Key Deductions We Help You Claim

• Section 80C — up to ₹1.5 lakh: PPF, ELSS, LIC premium, home loan principal, school fee
• Section 80D — up to ₹75,000: health insurance for self, family, and parents
• Section 80G — 50%-100% of donations to approved institutions
• Section 24(b) — up to ₹2 lakh interest on home loan for self-occupied property
• Section 80CCD(1B) — additional ₹50,000 for NPS contributions
• Section 10(14) — HRA, LTA, and other salary allowances for salaried employees
• Business expenses — rent, salaries, depreciation, professional fees, interest on loans

ITR Filing FAQ

Is it mandatory to file ITR even if tax is zero?

Yes, if your gross income exceeds the basic exemption limit (₹2.5 lakh under old regime / ₹3 lakh under new regime), filing is mandatory even if no tax is payable after deductions. Also mandatory if you have foreign assets, high-value transactions, or want to carry forward losses.

What is the penalty for not filing ITR?

Late filing fee under Section 234F: ₹5,000 (₹1,000 if income below ₹5 lakh). Additionally, losses cannot be carried forward if ITR is filed late, and you may also face interest on unpaid taxes under Sections 234A, 234B, 234C.

What is the new tax regime vs. old tax regime?

The new tax regime offers lower slab rates but disallows most deductions (80C, 80D, HRA, etc.). The old regime has higher rates but allows all deductions. We analyse both and recommend whichever saves you more tax.