ITR for Salaried – Everything a Salaried Person needs to know
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Everything a Salaried Person needs to know or needs to have to File their Income Tax Return has been clearly explained with the help of this Page.
First Thing which is note worthy and important right now is to know that the Due date for Filling ITR for Salaried Person is 31st July, 2026 (Only if the person is having just Salary Income and Income From Other Sources.
Through this Page you will be guided stepwise by the Best CA for ITR Filling for ITR Filling for Salaried Person.
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Utmost Important Points at a Glance
₹12 Lakh
Tax-free limit (For New Regime)
31st July
Filing deadline (no penalty)
26AS/AIS
Most critical document to verify
₹5,000
Late filing fee after deadline
STEP 1: Which ITR Form You Should File?
| Form | Name | Who Should Use It | Key Condition |
|---|---|---|---|
| ITR-1 | Sahaj | Salaried with Salary/House/Other income. | Total income below Rs.50 lakhs |
| ITR-2 | Investor Form | Salary + Capital gains/multiple houses/foreign assets. | All income above Rs.50L except Business |
| ITR-3 | Side-Hustle Form | Salaried + Proprietary business/freelance income. | Salary + freelance income |
| ITR-4 | Sugam | Presumptive income (Sec 44AD/44ADA) + Salary. | Presumptive income below Rs.50L |
STEP 2: Selecting the right Regime
| Old Tax Regime | New Tax Regime (DEFAULT) |
|---|---|
Deductions:
|
Deductions:
|
STEP 3: Pre-Filing Checklist
a. Salary Documents
- Form 16 (Part A & B)
- Form 26AS & AIS/TIS
- All 12 Salary Slips
b. Investment Documents
- Bank Interest Certificates
- Capital Gains Statement
- Section 80C Proofs
STEP 4: DIY Filing vs Hiring a CA
| Factor | DIY Filing | Hire a CA |
|---|---|---|
| Accuracy | High risk of errors | Professional accountability |
| Optimization | May miss deductions | Proactive savings |
| Support | You handle notices | CA handles notices |
Conclusion
With the 31st July deadline approaching, don't wait. Stay compliant and stress-free by filing correctly.
Frequently Asked Questions
I switched jobs in mid year. Do I need Form 16 from both employers?
Yes. To file an accurate return, you must collect Form 16 from both your previous and current employer. If you only provide one, your total income will be underreported, leading to a tax demand and interest penalties later.
What happens if I miss the July 31st deadline?
If you miss the deadline, you can still file a “Belated Return.” However, you will have to pay a late filing fee (under Section 234F) of up to ₹5,000. Additionally, you will lose the benefit of carrying forward certain losses (like capital losses) to future years.
Is the Standard Deduction available in both tax regimes?
Yes. For the F.Y. 2025-26, the Standard Deduction is available under both. In the Old Regime as well as New Regime. The Standard Deduction available in Old Tax Regime is Rs. 12,500/- whereas in New Tax Regime its Rs. 7,5000/-
My salary is ₹8 Lakhs, and I have no other income. Do I really need to file?
Under the New Regime, there is no tax on income up to ₹12 Lakhs (due to the Section 87A rebate). However, if your gross total income exceeds the basic exemption limit (₹4 Lakhs in the New Regime), you are legally required to file an ITR even if your final tax liability is zero.
Can I claim HRA if I am living with my parents?
Yes, you can claim HRA by paying rent to your parents, provided they own the property and you actually transfer the funds. Note that this rent will be considered “Income from House Property” for your parents, and they must declare it in their own ITR.