1. Know your deadlines
| Event |
Original date |
Revised date |
| Return filing (non‑audit salaried cases) |
31 July 2025 |
15 September 2025 |
| E‑verification / ITR‑V dispatch window |
30 days from filing |
Unchanged—still 30 days |
Filing after 15 September invites a late‑fee under Section 234F (₹1,000 if income ≤ ₹5 lakh; otherwise ₹5,000) plus interest u/s. 234A.
2. Collect every document before you log in
| Must‑have |
Where you get it |
Why it matters |
| Form 16 |
Employer |
Salary break‑up & TDS |
| Annual Information Statement (AIS) & Taxpayer Information Summary (TIS) |
Income‑tax portal |
Pre‑filled interest, securities, foreign travel spends |
| Form 26AS |
TRACES |
Consolidated TDS/TCS, high‑value transactions |
| Bank interest certificates & FD TDS (Form 16A) |
Each bank |
Most refund mismatches arise here |
| Home‑loan interest certificate |
Bank/HFC |
S. 24(b) deduction (old regime) |
| Investment proofs |
PPF, ELSS, LIC, NPS, health insurance, donations, etc. |
S. 80C, 80D, 80G and others |
Tip: Download AIS/TIS first—the portal often knows more than you remember!
3. Pick the right tax regime (old vs. new)
Quick slab comparison for FY 2024‑25 (income ≤ ₹15 lakh)
| Income slab |
Old regime |
New regime (default) |
| Up to ₹2.5 lakh |
Nil |
Nil |
| ₹2.5 – 5 lakh |
5 % (rebate up to ₹5 lakh) |
5 % |
| ₹5 – 7 lakh |
20 % |
10 % plus ₹25,000 rebate up to ₹7 lakh |
| ₹7 – 10 lakh |
20 % |
15 % |
| ₹10 – 12.5 lakh |
30 % |
20 % |
| ₹12.5 – 15 lakh |
30 % |
20 % |
| Above ₹15 lakh |
30 % |
30 % |
New regime highlights
- Standard deduction ₹50,000 still available.
- Most exemptions (HRA, LTA) & Chapter VI‑A deductions gone.
- It is set as default; to continue with the old regime, file Form 10‑IEA on or before the due date.
Rule of thumb: If your total deductions + exemptions exceed ~₹2 lakh, the old regime usually wins; otherwise the new regime’s lower rates may help.
4. Decide between ITR‑1 (Sahaj) and ITR‑2
| Condition |
Use ITR‑1 |
Switch to ITR‑2 |
| Salary / pension income |
✔ |
✔ |
| More than one house property |
✘ |
✔ |
| Salary + capital gains (shares, MF, ESOPs, crypto) |
✘ |
✔ |
| Agricultural income > ₹5,000 |
✘ |
✔ |
| Foreign assets / Resident but Not Ordinarily Resident |
✘ |
✔ |
| Total income ≤ ₹50 lakh |
✔ |
✔ (no upper limit) |
Excel & JSON utilities for both forms are already live.
5. Compute your taxable salary—the right way
- Start with “Gross Salary” (basic + allowances + perquisites).
- Deduct exempt allowances (HRA, LTA, food coupons) only under the old regime.
- Apply standard deduction ₹50,000 (both regimes).
- Professional tax paid to state can be reduced (old regime).
- Net result goes into Schedule “Salary”.
Watch‑out: ESOP perquisite values appear in Form 16 (Part B). Many tech employees forget this piece and get mismatch notices.
6. Add “Other Income”
- Interest from savings accounts (claim §80TTA deduction up to ₹10,000 under old regime).
- Fixed‑deposit / recurring‑deposit interest—fully taxable.
- Dividend from shares and mutual funds.
- Family pension (exemption: lowest of ₹15,000 or 1/3rd of such pension).
Enter these in Schedule “OS”. Cross‑check with AIS.
7. Claim deductions (old regime)
Popular sections for salaried individuals:
| Section |
Limit |
Typical items |
| 80C |
₹1.5 lakh |
EPF, PPF, ELSS, life insurance, principal on home loan, tuition fees |
| 80CCD(1B) |
Extra ₹50,000 |
NPS tier‑I contribution |
| 80D |
₹25k / ₹50k |
Medical insurance for self, parents |
| 80E |
No limit |
Interest on higher‑education loan |
| 80G |
50 % / 100 % |
Donations to approved funds |
| 24(b) |
₹2 lakh |
Home‑loan interest (self‑occupied) |
In the new regime only 80CCD(2) (employer’s NPS) and §80JJAA (new‑employment) stay available.
8. Reconcile TDS and pay any self‑assessment tax
- Match Schedule TDS with Form 26AS.
- If tax payable > ₹1 lakh and you pay after 31 July, interest u/s 234A runs from 16 Sep 2025.
- Use Challan ITNS 280 (minor head 300, “Self‑Assessment Tax”). Quote BSR code & CIN correctly in Schedule IT.
9. File online or with the offline utility
- Online (recommended): pre‑fill + guided flow.
- Offline: prepare JSON in the utility, then upload.
- Portal validates PAN‑name mismatch, bank account IFSC & deductor PAN in real‑time.
10. E‑verify within 30 days
| Method |
How |
Typical time |
| Aadhaar OTP |
One‑time password on mobile |
Instant |
| Net‑banking / Demat |
Redirect to portal |
Instant |
| Digital Signature (DSC) |
USB token |
Instant |
| ITR‑V signed & posted |
Speed‑post to CPC Bengaluru |
5‑7 days after delivery |
Missing the 30‑day window makes your filing invalid; you’ll have to “re‑file” or use the new Discard option (AY 2023‑24 onwards).
11. Track your refund
- Refunds are usually issued within 20–45 days if bank account is validated and pre‑login e‑mails are correct.
- Use the “Know Your Refund Status” link on the portal or NSDL site.
12. Five common mistakes (and fixes)
- Ignoring AIS interest entries → reconcile before submission.
- Not reporting exempt income (PF withdrawal, maturity of tax‑free bonds). Put them in Schedule EI.
- Incorrect regime switch without Form 10‑IEA → attracts defective return notice.
- Uploading return but forgetting e‑verification → return is non‑est, penalties may follow.
- Using ITR‑1 despite RSU sale or crypto trades → always move to ITR‑2.
FAQs
| Question |
Quick answer |
| Can I revise my return? |
Yes, till 31 Dec 2025 or before assessment, whichever is earlier. |
| What if my employer hasn’t issued Form 16? |
You can still e‑file using payslips & AIS; Form 16 is not mandatory. |
| Is HRA exemption allowed under the new regime? |
No. Only standard deduction & employer‑NPS remain. |
| I changed jobs mid‑year—two Form 16s. Which one to use? |
Enter the combined salary and merged TDS; the portal auto‑adjusts. |
| How do I claim foreign tax credit on US RSU tax? |
Fill Schedule FTC and upload Form 67 before the ITR due date. |
Final checklist (print & pin!)
- Download AIS/TIS & Form 16.
- Choose regime and, if needed, submit Form 10‑IEA.
- Use correct ITR form.
- Match TDS → 26AS.
- Pay self‑assessment tax & fill challan details.
- Validate, generate JSON/PDF, file.
- E‑verify within 30 days.
- Save acknowledgement for six years.
Conclusion
For most salaried taxpayers, filing a return is no longer a weekend‑long ordeal—provided you line up the right documents and pick the correct form and regime. Follow the steps above and you’ll glide through the portal in under an hour. If you need personalised help,
G R Prasad & Associates, Kondapur, Hyderabad can handle end‑to‑end compliance, refunds and even scrutiny responses.
