Income Tax E-Filing Overview

Q: Who is required to file an income tax return in India?

Filing is mandatory for individuals with gross total income exceeding the basic exemption limit, all companies, firms and LLPs regardless of income, individuals with foreign assets, those claiming refunds, and individuals meeting prescribed asset or expenditure criteria.

Q: What is the difference between the old and new tax regime?

The old regime allows deductions like HRA, 80C, and home loan interest. The new regime under Section 115BAC offers lower slab rates without most deductions. From FY 2023-24, the new regime is the default; taxpayers must explicitly opt out before the ITR due date.

Q: What is Form 26AS and Annual Information Statement (AIS)?

Form 26AS shows TDS, advance tax, and high-value transactions. AIS is more comprehensive, covering interest, dividend, capital gains, and foreign remittances. Both must be reviewed before filing to ensure ITR consistency.

Q: What happens if you don't verify your ITR within 30 days?

An unverified ITR is treated as never filed. The filing date becomes the verification date, potentially making the return belated. A condonation of delay application must be submitted if the 30-day window is missed.

Q: Can a return filed under the wrong ITR form be corrected?

Yes, by filing a revised return under Section 139(5) before 31 December of the assessment year using the correct form. After the revision deadline, a rectification request under Section 154 may be required.

Complete Guide to Online Income Tax Return Filing in India — Who Must File, When, and How

Income tax e-filing is the process of submitting your Income Tax Return (ITR) electronically on the Income Tax Department's portal at incometax.gov.in. Since 2013, e-filing has been mandatory for most categories of taxpayers, and the portal now supports end-to-end electronic filing, verification, and processing of all ITR forms.

Filing your income tax return on time is not just a legal obligation — it is the basis for carrying forward losses, obtaining refunds, availing loans, processing visa applications, and demonstrating financial discipline. Our income tax e-filing services cover all categories of taxpayers and all ITR forms, from the simple ITR-1 for salaried individuals to the complex ITR-6 for companies and ITR-7 for trusts and exempt entities.

Our Income Tax E-Filing Services

ITR Preparation & Filing

Accurate preparation and e-filing of income tax returns for individuals, HUFs, firms, LLPs, companies, and trusts across all ITR forms — ITR-1 through ITR-7.

Income Computation

Computation of total income across all heads — salary, house property, business and profession, capital gains, and other sources — with correct application of deductions and exemptions.

Tax Liability Calculation

Accurate calculation of tax liability under the old or new tax regime, advance tax computation, and reconciliation with TDS credits as reflected in Form 26AS and AIS.

Refund Tracking & Follow-Up

Tracking of income tax refunds after filing, liaison with the department for refund reissuance, and assistance with rectification requests where refunds are incorrectly processed.

ITR Verification

Assistance with e-verification of the filed return through Aadhaar OTP, net banking, or digital signature — mandatory within 30 days of filing for the return to be considered valid.

Revised & Belated Returns

Filing of revised returns to correct errors in original filings, and belated returns for taxpayers who missed the original due date — filed before 31 December of the assessment year.

Key Facts About Income Tax E-Filing

The due date for individuals, HUFs, and firms not requiring audit is 31 July of the assessment year
For taxpayers requiring audit (companies, LLPs, businesses above threshold), the due date is 31 October
E-filing is mandatory for individuals with income above ₹5 lakh, those claiming foreign tax credit, and all companies and firms
Returns must be e-verified within 30 days of filing — otherwise the filing is treated as invalid
A belated return can be filed up to 31 December of the assessment year with a late fee under Section 234F
Non-filing or late filing attracts a fee of ₹1,000 (income below ₹5 lakh) or ₹5,000 (income above ₹5 lakh) under Section 234F
The new tax regime under Section 115BAC is now the default — taxpayers must opt out explicitly to use the old regime

Frequently Asked Questions

Who is required to file an income tax return in India?

Filing is mandatory for: individuals with gross total income exceeding the basic exemption limit (₹2.5 lakh for those below 60, ₹3 lakh for senior citizens, ₹5 lakh for super senior citizens); all companies, firms, and LLPs regardless of income or profit; individuals with foreign assets or foreign income; individuals claiming tax refunds; and individuals meeting prescribed asset or expenditure criteria even if income is below the exemption limit.

What is the difference between the old and new tax regime?

The old tax regime allows taxpayers to claim numerous deductions and exemptions — such as HRA, LTA, Section 80C, 80D, and home loan interest — resulting in a lower taxable income. The new tax regime under Section 115BAC offers lower slab rates but does not permit most deductions. From FY 2023-24, the new regime is the default for individuals; taxpayers must explicitly opt out by filing the prescribed form on or before the ITR due date to use the old regime.

What is Form 26AS and Annual Information Statement (AIS)?

Form 26AS is a consolidated tax statement showing TDS deducted, advance tax paid, self-assessment tax paid, and high-value transaction information. The Annual Information Statement (AIS) is a more comprehensive version that includes information on all financial transactions reported to the income tax department — including interest income, dividend income, capital gains, and foreign remittances. Both must be reviewed before filing to ensure the ITR is consistent with information available with the department.

What happens if you don't verify your ITR within 30 days?

An ITR that is not e-verified within 30 days of filing is treated as if it was never filed. This means the taxpayer is treated as a defaulter for the relevant assessment year, and the filing date is treated as the date of verification (not filing) — potentially making the return belated. If the 30-day window is missed, the taxpayer must submit a condonation of delay application to the income tax department for approval before the return can be considered valid.

Can a return filed under the wrong ITR form be corrected?

Yes. A return filed under the wrong ITR form can be corrected by filing a revised return under Section 139(5) before 31 December of the assessment year. The revised return must be filed under the correct form. If the error is discovered after the revision deadline, the taxpayer may need to submit a rectification request under Section 154 or respond to notices if the department picks up the discrepancy during processing.

File Your Income Tax Return — Accurately and On Time

Expert ITR preparation and e-filing for all categories of taxpayers across all ITR forms.