Filing your Income Tax Return (ITR) can seem daunting, but with a step-by-step approach, you can navigate the process on your own. Here's a comprehensive guide to help you file your ITR for the Financial Year 2024-25 (Assessment Year 2025-26). The due date for filing ITR for FY 2024-25 has been extended to September 15, 2025, for non-audit taxpayers.

1. Determine if You Need to File Taxes

Filing ITR is a crucial obligation for every taxpayer in India. Whether you need to file a tax return depends on your income, tax filing status, age, and other factors. Even if you don't have to file, you might consider doing so to qualify for a tax break that could generate a refund.

2. Calculate Your Income and Tax

The first step is to calculate your income from all sources, including salary, business income, capital gains, and income from other sources. Ensure you consider all applicable tax provisions and claim valid deductions to arrive at your total income and applicable tax.

3. Gather Necessary Documents and Information

Collect all the necessary documents required for filing your ITR. This includes:

• PAN Card: Essential for filing your ITR.
• Aadhaar Card: May be required for verification.
• Form 16: Issued by your employer, containing details of your salary and tax deducted at source (TDS).
• Form 26AS: A consolidated tax statement that shows the tax deducted on your income by various entities.
• TDS Certificates: If you have income from sources other than salary, such as interest income.
• Investment Proofs: Documents related to investments eligible for deductions under Section 80C, such as ELSS, PPF, NSC, etc.
• Other Income Documents: Interest income statements, rental income details, etc.
• Business Financials: If you have business income, you'll need to provide details of your turnover, expenses, and profit.

4. Select the Correct ITR Form

Choosing the correct ITR form is crucial. The applicable ITR form depends on the nature of your income and your taxpayer status. Here are some common ITR forms:

• ITR-1 (Sahaj): For individuals with income from salary, one house property, and other sources like interest.
• ITR-2: For individuals and HUFs not having income from business or profession.
• ITR-3: For individuals and HUFs having income from business or profession.
• ITR-4 (Sugam): For individuals, HUFs, and firms (other than LLPs) with income from business or profession and opting for the presumptive income scheme.

5. Filing Options: Online or Offline

Taxpayers can file income tax returns either online or offline. For online ITR filing, only ITR 1 and ITR 4 are available. Other income tax forms require to be uploaded offline by generating XML and uploading it on the portal.

6. E-Filing Process: Step-by-Step

Here’s how to file your ITR online:

1. Log in to the e-filing portal: Go to the official Income Tax e-filing website and log in using your User ID (PAN), password, and captcha.
2. Navigate to the ITR filing section: Click on "e-File" > "Income Tax Returns" > "File Income Tax Return".
3. Select Assessment Year and Filing Status: Choose the Assessment Year 2025-26. Select the applicable status.
4. Select ITR Form: Choose the ITR form applicable to you and click "Proceed".
5. Fill in the Details: Fill in all the required details in the ITR form. This includes personal information, income details, deductions, and tax payments.
6. Upload and Submit: Upload the respective XML file from your computer and click ‘Submit’.
7. Verify Your Return: After submitting, verify your ITR using one of the available methods: Electronic Verification Code (EVC), Aadhaar OTP, or by sending a manually signed copy of ITR-V to CPC.

7. Key Considerations

• Due Date: The extended due date to file ITR for FY 2024-25 is September 15, 2025, for non-audit taxpayers.
• Interest under Section 234A: If the ITR is filed after the due date specified in Section 139(1), interest is applicable at 1% on unpaid tax.
• Late Filing Fee: Missing the deadline may result in interest charges under Section 234A and a late filing fee under Section 234F.
• Belated Return: If you miss the deadline, you can still file a belated return by December 31, 2025, with penalties and interest.
• Pre-filled Information: The ITR form often has pre-filled information based on your PAN and Form 26AS. Verify this information carefully.
• Tax Verification: Taxpayers must verify their ITR within 30 days of uploading the data electronically.

By following these steps and keeping the key considerations in mind, you can successfully file your ITR on your own.