Taxpayers can now log into the official e-filing portal (https://www.incometax.gov.in/) to file income-tax returns for assessment year 2026-27 (AY27) or financial year 2025-26 (FY26). According to reports from Mint, the I-T return (ITR) forms have been notified and Excel Utility for the ITR-1 (Sahaj) and ITR-4 (Sugam) forms online have been enabled by the tax department. Notably, all first-time taxpayers have to register using Aadhaar, PAN and other details, then use Excel utility to prepare their returns offline before digitally uploading the same. The income tax department has also enabled online filing and Excel utilities for ITR-1 and ITR-4 for AY 2026-27 on the e-Filing portal, as confirmed by the department's social media announcement.
First-time taxpayers can follow a simplified four-step process to file their income tax returns. As recommended by tax experts, the process begins with keeping all income details ready, including salary slips, bank interest, investment proofs, and other earnings. The next crucial step involves verifying Form 26AS and AIS to ensure tax details match official records. Taxpayers must then choose the correct ITR form based on their income source, with salaried individuals, pensioners, and taxpayers with income from salary, one house property, or interest eligible for ITR-1, while taxpayers with presumptive income from business or profession should use ITR-4. Finally, after filling out the form, taxpayers should submit it online and complete the e-verification process to ensure proper processing.
The I-T department has issued several key precautions for taxpayers filing returns. As reported by Mint, taxpayers should select their tax regime carefully and download Form 26AS and Annual Information Statement (AIS) to check actual Tax Deducted at Source (TDS) / Tax Collected at Source (TCS) / tax paid. They should compile and carefully study documents including bank statements, interest certificates, receipts for exemptions, Form 16, Form 26AS, and investment proofs. Taxpayers must ensure details like PAN, permanent address, contact details, and bank account details are correct in the pre-filled data and identify the correct return from ITR-1 to ITR-7 to ensure timely processing. Tax experts recommend filing early instead of waiting for the deadline to avoid mistakes, reduce last-minute stress, and speed up refunds.
For the current tax year, individual taxpayers filing ITR have a deadline of 31 July 2026, while those using ITR forms 3 and 4 have until 31 August 2026. According to Mint, taxpayers who miss the July deadline can still file a delayed return by 31 December 2026 for FY25-26/AY26-27. Late filing fees of up to ₹5,000 may be imposed, along with interest on tax liability. The article emphasizes that e-filing the return on or before the due date is essential to avoid penalties and ensure proper processing. Notably, taxpayers who miss the July deadline may need to file a belated return and could face additional penalties and interest on tax due.
The ITR forms are categorized as follows: ITR-1 form for salaried individuals with one house property and other sources, ITR-2 for individuals or Hindu Undivided Family (HUF) without business income, ITR-3 for individuals or HUF with income from business or profession, ITR-4 for taxpayers with presumptive income from business or profession, and ITR-5 for firms, Limited Liability Partnership (LLP), Association of Persons (AOP), Body of Individuals (BOI), or Artificial Juridical Person (AJP). As reported by Mint, no documents are to be attached along with ITR-1, and taxpayers must provide all details including total income, deductions, interest, and taxes paid. ITR-1 is suitable for most salaried individuals, pensioners, and taxpayers with income from salary, one house property, or interest, while ITR-4 is recommended for taxpayers with presumptive income from business or profession.
Taxpayers can re-submit their return in case of calculation mistakes within three months before the end of the relevant AY. For AY 2025-26, the due date for filing revised return is 31st December 2025. According to Mint, any excess tax paid can be claimed as refund by filing ITR, and after processing, ITD checks and accepts refund claims, crediting the amount to the bank account. Additionally, taxpayers must e-verify their return after filing and manually verify through signed physical copy of ITR-V Acknowledgement sent to Centralized Processing Center, Income Tax Department, Bengaluru.
