How to file your first Income Tax Return

🧾 What is Income Tax Return (ITR)?

An Income Tax Return (ITR) is a form that taxpayers submit to the Income Tax Department of India. It shows your total income, deductions, and the tax you have paid. Filing ITR is mandatory if your income exceeds the basic exemption limit (₹2.5 lakh for individuals below 60 years).

✅ Why Should You File ITR?

Even if your income is below the taxable limit, filing an ITR can help you:

• Claim tax refunds (if excess TDS is deducted)

• Apply for a visa or loan

• Maintain a clean financial record

• Carry forward losses for future tax benefits

📝 Step-by-Step Guide to File Your First ITR

Step 1: Check if You Need to File ITR

If your total income in a financial year exceeds ₹2.5 lakh (for individuals below 60), you are required to file ITR.

Step 2: Get Your Documents Ready

Keep the following documents handy:

• PAN card and Aadhaar card

• Form 16 (from your employer, if salaried)

• Bank statements and passbooks

• TDS certificates (Form 16A, if any)

• Investment proofs (80C, 80D etc.)

• Rent receipts for HRA

• Interest certificates from banks

Step 3: Register/Login on the Income Tax Portal

Visit the official Income Tax e-Filing website.

• If you’re a first-time user, click on Register and complete your profile.

• If already registered, log in with your PAN and password.

Step 4: Choose the Correct ITR Form

• ITR-1 (Sahaj) – For salaried individuals with income up to ₹50 lakh

• ITR-2/3/4 – For individuals with capital gains, business income, or foreign assets

💡 For most first-time salaried individuals, ITR-1 is suitable.

Step 5: Fill in Income and Deduction Details

You can:

• Use the pre-filled return form from the portal (based on AIS and TIS data)

• Manually update or verify income, deduction claims, and bank details

Step 6: Verify Tax Details

Check:

• TDS (Tax Deducted at Source)

• Advance Tax or Self-Assessment Tax Use Form 26AS and Annual Information Statement (AIS) to cross-verify.

Step 7: Submit and e-Verify Your Return

After reviewing all details:

• Submit your ITR online

• e-Verify it using Aadhaar OTP, Net Banking, or EVC

✅ Filing is not complete until you verify the return.

📆 What is the Deadline?

The usual deadline to file ITR for individuals is 31st July of the assessment year. (E.g., for FY 2024–25, the due date is 31st July 2025). However, this year Government has postponed deadline till 15th September 2025.

🙋 FAQs

Q1: What if I make a mistake while filing ITR?

A: You can file a revised return before 31st December of the assessment year.

Q2: Do I need to attach documents while filing?

A: No, ITR is filed online without attaching proofs. But keep documents for future verification.

Q3: What if I miss the deadline?

A: You can file a belated return with a penalty of ₹1,000 to ₹5,000.

Q4: Which ITR form should I use?

A:

• ITR-1: Salary/Pension, 1 house, up to ₹50L income

• ITR-2: Capital gains, more than one house, foreign assets

• ITR-3: Business/profession

• ITR-4: Presumptive business income