Due Date
July 31 (every year)
Penalty if Missed
₹5,000 penalty + 1% interest/month
What is Individual ITR Filing?
Individual ITR filing is the annual income tax return submission to the Income Tax Department. ITR-1 (Sahaj) is for salaried individuals with income up to ₹50 lakh. ITR-2 is for individuals with capital gains, multiple properties, or foreign income. Filing ITR on time avoids penalties, helps in loan approvals, visa applications, and demonstrates financial discipline.
What We Need
- PAN Card and Aadhaar Card
- Form 16 from employer (for salaried employees)
- Bank account statements for all accounts
- Interest income certificates from banks (Form 16A)
- Capital gains statements from broker (if applicable)
- Investment proofs for deductions (80C, 80D, 80G, etc.)
- Rent receipts if claiming HRA exemption
Service Plans
Most Popular
Standard (ITR-2)
₹1,399
- Full filing service
- Penalty prevention
- Dedicated CA support
- Priority processing
Premium (Complex)
₹1,999
- Everything in Standard
- CA consultation
- Tax planning advice
- Annual review included
Frequently Asked Questions
Who must file ITR?
Any individual with income exceeding ₹2.5 lakh (₹3 lakh for senior citizens) must file ITR. Also mandatory if you have foreign assets, want to claim refund, or carry forward losses.
What is the penalty for late ITR filing?
A penalty of ₹5,000 for filing after July 31 but before December 31. After December 31: ₹10,000 penalty. For income below ₹5 lakh, maximum penalty is ₹1,000.
Can I revise my ITR after filing?
Yes, a revised return can be filed up to December 31 of the relevant assessment year to correct any mistakes in the original return.
What is Form 26AS?
Form 26AS is your annual tax statement showing TDS deducted by employers, banks, and others. We reconcile your 26AS before filing to ensure accuracy.