Which ITR form should I file?

ITR-1 (Sahaj): Salaried individuals with income up to Rs 50 lakh from salary, one house property, and interest income. ITR-2: If you have capital gains (stocks, mutual funds), foreign income, or multiple house properties. ITR-3: If you have business or freelance income. ITR-4 (Sugam): For presumptive income under Section 44AD/44ADA.

Is the new tax regime default now?

Yes. From FY 2024-25 onwards, the new regime is default. If you don't choose old regime while filing, you'll be assessed under new regime automatically. Salaried employees should have informed their employer during tax declaration. If not, you can still choose old regime while filing ITR.

When will Form 16 be available?

Employers must issue Form 16 by June 15, 2026. If your employer hasn't issued it by then, you can still file using your salary slips, Form 26AS (TDS credits), and AIS (Annual Information Statement) available on the income tax portal.

How to check if my employer deposited TDS correctly?

Log in to incometax.gov.in, go to e-File → Income Tax Returns → View Form 26AS. This shows all TDS deposited against your PAN by employers, banks, and other deductors. Cross-check every entry with your salary slips and bank interest certificates.

POLICY UPDATE2026-04-26• By Ashutosh Khulbe

ITR Filing for FY 2025-26 Is Now Open — Deadline July 31, 2026. File Early to Get Faster Refund

The Income Tax Department has opened the filing window for FY 2025-26 (Assessment Year 2026-27). Salaried individuals filing ITR-1 or ITR-2 must file by July 31, 2026. Those filing ITR-3 or ITR-4 now have an extended deadline of August 31, 2026 — a change introduced in Budget 2026.

Before you file, collect your Form 16 from your employer (issued by June 15), check Form 26AS for TDS credits, and review your Annual Information Statement (AIS) on the income tax portal for any unreported income like FD interest, mutual fund gains, or property transactions.

The new regime is default for FY 2025-26. If you want to claim deductions under 80C, 80D, HRA, or NPS, you must actively opt for the old regime while filing. Use our income tax calculator to compare both regimes with your actual numbers before choosing.

Filing early has real benefits — refunds are processed within 2-3 weeks for early filers versus 3-6 months for those who file near the deadline. You also avoid the portal crashes and server slowdowns that happen every year in the last week of July.

⚠️Miss the deadline? Here's what happens

Late filing after July 31 incurs a penalty of Rs 5,000 (Rs 1,000 if income is below Rs 5 lakh). You also lose the right to carry forward capital losses and business losses. A belated return can be filed until December 31, 2026, but interest at 1% per month on unpaid tax applies from the due date.

ITR Filing for FY 2025-26 Is Now Open — Deadline July 31, 2026. File Early to Get Faster Refund

❓Frequently asked questions