Documents Needed for ITR Filing
Tax rules and filing guide

Common customer situations

• salaried employees with Form 16 and deductions
• business owners needing ITR, audit or GST-linked review
• freelancers and consultants with professional income
• investors with capital gains from shares, mutual funds, crypto or property
• startups needing CA support for compliance and finance records

Documents or details to keep ready

• PAN and Aadhaar
• Form 16, AIS/TIS and Form 26AS
• bank statements and interest certificates
• investment proofs for 80C/80D and home loan certificates
• capital gains statements, P&L and balance sheet where applicable

Pricing expectations

Basic salaried ITR work often starts around Rs. 1,000 to Rs. 2,500. Business, freelancer, capital gains or foreign income filings commonly range from Rs. 3,000 to Rs. 15,000. Audit-linked work can be higher depending on turnover and books quality.

Questions to ask the expert

• Have you handled this exact service type before?
• What documents do you need before confirming price?
• What is included and excluded in the fee?
• What timeline is realistic if all documents are ready?
• How will corrections, notices or follow-up queries be handled?

Good signs in a response

• The expert mentions your actual service type and context
• The price explanation is tied to complexity, not just a flat vague quote
• They ask for the right documents
• They explain timeline, assumptions and next steps clearly
• Their profile, ratings and service categories match the requirement

Red flags

• Very low quote without understanding scope
• No mention of AIS, GST reconciliation, books, notices or documents when relevant
• Pressure to move outside the platform immediately
• Unclear deliverables
• Poor explanation of timelines or responsibility

Who is required to file an ITR in India for FY 2025-26?

You must file an ITR if your total income before deductions (like Section 80C, 80D, etc.) exceeds the basic exemption limit (₹4,0,000 under the default New Regime; ₹2,50,000 under the Old Regime). Filing is also mandatory if you hold foreign assets, deposited >₹1 crore in current bank accounts, spent >₹2 lakh on foreign travel, or had TDS/TCS exceeding ₹25,000 in the financial year.

What are the due dates for filing ITR for FY 2025-26?

For FY 2025-26 (AY 2026-27), the due date is July 31, 2026, for salaried individuals, pensioners, and other non-audit taxpayers. For non-audit business/professional taxpayers filing ITR-3 or ITR-4, the due date is August 31, 2026. For taxpayers requiring a tax audit, the due date is October 31, 2026.

What is the penalty for filing a belated return?

If you file after the deadline (belated return under Section 139(4)), a late filing fee is charged under Section 234F: ₹5,000 if your total income exceeds ₹5,0,000, and ₹1,000 if your income is ₹5,0,000 or below. The final deadline to file a belated return for FY 2025-26 is December 31, 2026.

How does the Section 87A rebate work under the New Tax Regime?

Under the New Tax Regime, individuals with taxable income up to ₹12,0,000 qualify for a full tax rebate of up to ₹60,000 under Section 87A, making their net tax liability zero. Salaried individuals earning up to ₹12,75,000 can also achieve zero tax after applying the ₹75,000 standard deduction.

Can I switch from the default New Regime to the Old Tax Regime?

The New Tax Regime is the default. You can opt-in to the Old Tax Regime at the time of filing your ITR. Salaried employees can switch between regimes every year. Taxpayers with business or professional income can switch back to the Old Regime only once in their lifetime.

How is agricultural income taxed in India?

Agricultural income is exempt from tax under Section 10(1) if the land is in India. However, if your agricultural income exceeds ₹5,0,000 (or ₹5,000 if non-agricultural income exceeds the basic exemption limit), the agricultural income is integrated to compute the tax rate applicable to your non-agricultural income.

What is the standard deduction for salaried individuals?

For FY 2025-26, salaried employees get an enhanced standard deduction of ₹75,000 under the New Tax Regime, and ₹50,000 under the Old Tax Regime.

What is the holding period to qualify for LTCG on shares?

For listed equity shares, the holding period to qualify for Long-Term Capital Gains (LTCG) is more than 12 months. For unlisted shares (including foreign shares), the holding period is more than 24 months.

How is LTCG on listed equity shares taxed?

Under the current Finance Act, LTCG on listed equity shares is taxed at a flat rate of 12.5% on gains exceeding the ₹1.25 lakh annual exemption threshold (increased from the previous ₹1 lakh limit).

What is the tax rate on STCG under Section 111A?

Short-Term Capital Gains (STCG) on listed equity shares sold through a recognized stock exchange where STT is paid is taxed at a flat rate of 20% under Section 111A (increased from the previous 15% rate).

What is the penalty for not disclosing foreign assets in Schedule FA?

Resident and Ordinarily Resident (ROR) taxpayers who fail to disclose foreign assets (including foreign bank accounts, shares, RSUs, and properties) in Schedule FA can face a flat penalty of ₹10 lakh under the Black Money Act.

What are the rules for filing a revised return?

Under Section 139(5), if you discover any omission or wrong statement in your original return, you can file a revised return. The deadline to file a revised return for FY 2025-26 is March 31, 2027.

What is an Updated Return (ITR-U) and its late fee?

Under Section 139(8A), you can file an Updated Return (ITR-U) within 24 months from the end of the relevant Assessment Year to declare additional income. It requires paying an additional tax of 25% (if filed within 12 months) or 50% (if filed within 24 months).

How do I claim tax relief under Section 90 (DTAA)?

To claim relief from double taxation under Section 90, you must file Form 67 online on the e-filing portal before filing your ITR, along with a Tax Residency Certificate (TRC) and Form 10F where applicable.

How is interest income from savings accounts taxed?

Interest from savings accounts is taxable under Income from Other Sources. Under the Old Regime, you can claim a deduction of up to ₹10,000 under Section 80TTA (or up to ₹50,000 for senior citizens under Section 80TTB). This deduction is not available under the New Tax Regime.