Income Tax E-Filing
Income Tax e Filing
Filing ITR (income tax return) is a crucial duty of every taxpayer in India, ensuring adherence to the nation’s tax regulations. Income tax filing involves detailing all sources of income, deductions, and tax liabilities for a comprehensive report to the Income Tax Department. Early ITR e-filing helps avoid errors and last-minute technical glitches, ensuring a smoother submission process.
IndiaFilings simplifies the entire Income Tax e Filing process, making it quick, easy, and hassle-free. Our platform guides you step-by-step, from auto-fetching your pre-filled data to assisting you in choosing the right tax regime. Whether you’re an individual or a business owner, our user-friendly ITR efiling system ensures your taxes are filed accurately and on time.
Experience a seamless ITR filing process online with IndiaFilings and say goodbye to tax season stress!
5 Quick Steps to File your ITR Online
- Quick Login/Signup: Log in or create your account effortlessly.
- Pick Income Source: Salary, business, capital gains & more.
- Auto-Filled Data: Details auto-fetched from IT Dept for ITR filing
- Compare Tax Computation: Select between old & new tax regimes
- File ITR & Confirm: File return & receive confirmation from IT Dept
Income Tax Return (ITR)
An ITR Income Tax Return is a form that taxpayers use to report their income details and tax payments to the Income Tax Department. There are seven different ITR forms available for ITR e filing: ITR 1 through ITR 7. The appropriate form for a taxpayer depends on various factors, including their sources of income, the total amount earned, and the type of taxpayer they are (such as individuals, Hindu Undivided Families (HUFs), companies, etc.). Each taxpayer must accurately complete their income tax filing within the specified deadline to comply with the Income Tax Law.
Who Needs to e File an ITR Income Tax Return?
Income tax filing is not just a legal obligation, but also a financial responsibility. It applies to individuals and entities across various categories and income levels. Below is a clear overview of who must e-file their ITR income tax return in India:
The following criteria apply to the old tax regime:
- Individuals under 60 years: Rs 2.5 lakh
- Individuals between 60 and 80 years: Rs 3.0 lakh
- Individuals over 80 years: Rs 5.0 lakh
In the table below, we have provided the income tax slab under the old tax regime for income tax filing:
Income range | Income Tax Slab Rates |
Up to Rs. 2,50,000 | Nil |
Rs. 2,50,001 to Rs. 5,00,000 | 5% |
Rs. 5,00,001 to Rs. 10,00,000 | 20% |
Above Rs. 10,00,000 | 30 |
New Tax Regime:
The Union Budget 2025 introduced significant changes to the income tax slabs under the New Tax Regime. Below, we have provided the updated income tax slabs for the New Tax Regime for income tax filing.
Income Range (Rs.) | Tax Rate (%) |
Up to 4,00,000 | NIL |
4,00,001 – 8,00,000 | 5 |
8,00,001 – 12,00,000 | 10 |
12,00,001 – 16,00,000 | 15 |
16,00,001 – 20,00,000 | 20 |
20,00,001 – 24,00,000 | 25 |
Above 24,00,000 | 30 |
However, there are other specific circumstances that require you to file ITR, even if your income is below these thresholds:
High-value Transactions: You are required to do Income tax filing if you have:
- Deposited Rs 1 crore or more in one or more current bank accounts.
- Deposited Rs 50 lakh or more in one or more savings bank accounts.
- Spent over Rs 2 lakh on foreign travel.
- Incurred electricity expenses exceeding Rs 1 lakh during the financial year.
- Had TDS (Tax Deducted at Source) or TCS (Tax Collected at Source) exceeding Rs 25,000 (or Rs 50,000 for senior citizens)