Income Tax
9 min read
· 7 Sep 2026
How to File Income Tax Return (ITR) Online — AY 2026-27 Complete Guide
By GSRC and Associates, Chartered Accountants
Quick Answer: ITR filing deadline for individuals (non-audit) for AY 2026-27 is 31 July 2026. If you missed it, you can file a Belated Return up to 31 December 2026 with a late fee of ₹1,000–₹5,000. E-filing is mandatory for most taxpayers.
Who Must File an ITR?
You are required to file an ITR if any of the following apply:
- Your gross total income exceeds ₹2.5 lakh (₹3 lakh for individuals aged 60–80; ₹5 lakh for 80+)
- You deposited more than ₹1 crore in current accounts OR more than ₹50 lakh in savings accounts
- You spent more than ₹2 lakh on foreign travel or ₹1 lakh on electricity
- You have foreign assets or income
- You are claiming a tax refund
- You are a company or firm (mandatory regardless of income)
Which ITR Form Should You Use?
| Form | Who Should Use It |
|---|---|
| ITR-1 (Sahaj) | Resident individuals with salary/pension income up to ₹50 lakh, one house property and interest income |
| ITR-2 | Individuals/HUFs with capital gains, more than one property, foreign income or assets |
| ITR-3 | Individuals/HUFs with business or professional income (also reporting capital gains) |
| ITR-4 (Sugam) | Individuals/HUFs/Firms on presumptive taxation (44AD, 44ADA, 44AE) with income up to ₹50 lakh |
| ITR-5 | Firms, LLPs, AOPs, BOIs and other entities (not companies) |
| ITR-6 | Companies other than those claiming exemption under Section 11 |
| ITR-7 | Trusts, political parties, research institutions and other Section 139(4A)–(4F) entities |
New Tax Regime vs Old Tax Regime — Which to Choose?
From FY 2023-24, the New Tax Regime is the default. You must opt out explicitly to use the old regime.
| Feature | New Regime (Default) | Old Regime |
|---|---|---|
| Basic exemption | ₹3 lakh | ₹2.5 lakh |
| Standard deduction | ₹75,000 (salaried) | ₹50,000 |
| Section 80C | Not available | Up to ₹1.5 lakh |
| HRA, LTA exemptions | Not available | Available |
| Tax rebate (Section 87A) | Up to ₹25,000 (income ≤ ₹7L) | Up to ₹12,500 (income ≤ ₹5L) |
| Best for | Lower investments, simpler filing | High 80C + HRA claims |
Tip: If your 80C + HRA + other deductions total more than ₹3.75 lakh, the old regime is generally better. Our CAs can run the exact calculation for your situation.
Documents to Gather Before Filing
- Form 16 / Form 16A from your employer(s)
- Form 26AS and Annual Information Statement (AIS) — download from the Income Tax portal
- Bank statements (interest income, TDS deducted by bank)
- Capital gains statements from broker/mutual fund (if any)
- Home loan interest certificate (if claiming deduction)
- Rent receipts for HRA exemption
- 80C investment proofs (ELSS, PPF passbook, LIC premium receipt, etc.)
- 80D premium receipts for health insurance
Step-by-Step ITR Filing Online
- Log in at incometax.gov.in with your PAN and password.
- Go to File → File Income Tax Return → select Assessment Year 2026-27.
- Choose filing mode: Online (pre-filled) or Offline (JSON upload).
- Select the correct ITR form (see table above).
- Verify pre-filled data against Form 26AS and AIS — correct any discrepancies before proceeding.
- Enter income details, deductions and tax paid.
- Compute tax. If refund is due, provide bank account for credit (pre-validate your bank account on the portal).
- e-Verify within 30 days using Aadhaar OTP, net banking, bank ATM, DEMAT account or DSC. An unverified ITR is treated as not filed.
Key Deadlines for AY 2026-27
- 31 July 2026 — Individuals and non-audit cases (original return)
- 31 October 2026 — Businesses subject to audit; partners of audited firms
- 30 November 2026 — Transfer pricing report cases
- 31 December 2026 — Belated return (late fee applies: ₹1,000 if income ≤ ₹5L; ₹5,000 otherwise)
When Does CA Assistance Make Sense?
DIY filing works for simple salary income with no other complexity. Engage a CA when you have:
- Capital gains from stocks, mutual funds or property sale
- Business or professional income (including freelancing)
- Foreign income, foreign assets or ESOP income
- Multiple sources of income or prior-year losses to carry forward
- Any notice or demand from the Income Tax Department
GSRC and Associates files ITRs for individuals, HUFs, firms and companies. We also respond to IT notices and handle assessments — contact us for a free initial discussion.
Need help with this?
Our Chartered Accountants handle income tax, GST and compliance end-to-end. First consultation is free.