If you’re a salaried professional and the word “ITR” makes you nervous—don’t worry, you’re not alone! Filing your Income Tax Return (ITR) isn’t as daunting as it seems, especially when you understand the basics. Whether you’re in your first job or a few years into your career, here’s a simple guide to help you file your ITR for Assessment Year (AY) 2025-26.
✅Which ITR Form Should You Use?
ITR-2: For those with income above ₹50 lakh or who have capital gains, more than one house property, or foreign assets.
ITR-1 (Sahaj): For salaried individuals with total income up to ₹50 lakh. It covers income from salary, one house property, and other sources like interest income.
📄 Documents You’ll Need
- Form 16 – Issued by your employer, it summarises your salary and the TDS (Tax Deducted at Source) already paid.
- Form 26AS – A tax credit statement showing TDS deducted by all sources. Match it with Form 16 to ensure accuracy.
- Annual Information Statement (AIS) – Reflects all your financial transactions like salary, interest, stock trades, etc.
- Taxpayer Information Summary (TIS) – A simplified summary of your AIS for easier reference.
- Bank account details, investment proofs (if claiming deductions under 80C, 80D, etc.), and rent receipts (if claiming HRA).
🧾 Filing Made Simple
- Log in to https://www.incometax.gov.in.
- Choose the right ITR form.
- Prefill details using your PAN – the portal fetches most of the data automatically.
- Cross-check with your documents.
- Claim deductions under relevant sections.
- Submit and e-verify using Aadhaar OTP, net banking, or other options.
OR
Simply get in touch with your tax consultant!
Pro Tip: File before 31st July 2025 (or 15th September 2025 – just for this year!) to avoid penalties. And remember, even if no tax is payable, filing helps build your financial history—a smart move for future loan approvals.
Your first few years of work are the best time to build good tax habits. Start now—and stay ahead!
