TAN Registration

Individual ITR Filing

Individual Income Tax Return filing is mandatory for individuals whose gross total income exceeds the basic exemption limit (₹3 lakh under the new tax regime for FY 2024–25). Different ITR forms apply: ITR-1 (salaried individuals with income up to ₹50 lakh), ITR-2 (capital gains, foreign income), ITR-3 (business/professional income), and ITR-4 (presumptive taxation).

Important Points:

  • Due date: July 31 for non-audit cases; October 31 for audit cases
  • Choose new tax regime (lower rates, fewer deductions) or old regime (higher rates, full deductions)
  • Late filing attracts fee of ₹5,000 (income above ₹5 lakh) or ₹1,000 (income up to ₹5 lakh)
  • e-Verification mandatory within 30 days of filing

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