Income tax return basics: who must file and what you need
Filing an income tax return is simpler than it looks once you know whether you are required to file, which regime suits you, and what to keep ready. This guide covers the essentials in plain terms — and flags the specifics that change each year, so you confirm them on the official portal rather than assume.
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Who is required to file a return
The main trigger is income. If your total income before deductions exceeds the basic exemption limit for the year, you are generally required to file. But income is not the only trigger — filing can be required regardless of income in certain situations, commonly including:
- Holding assets or signing authority over accounts outside India.
- Depositing large amounts in bank or current accounts above notified limits.
- Spending above notified thresholds on foreign travel or electricity.
- Business turnover or professional receipts above specified limits.
Beyond the requirement, many people file voluntarily because it is useful: to claim a refund of excess TDS, to build an income record for loans and visas, and to carry forward certain losses. Because the exact exemption limit and conditions are revised periodically, confirm your position against the current rules on incometax.gov.in or ask us to check.
Old versus new regime, in brief
India runs two parallel tax structures, and choosing between them is the decision that most affects your tax:
| Old regime | New regime | |
|---|---|---|
| Slab rates | Higher | Lower |
| Deductions & exemptions | Wide range available (investments, insurance, HRA, etc.) | Most removed |
| Best suited to | Those with significant deductions to claim | Those with few deductions who prefer lower rates |
| Default | Opt in each year | Applies by default in recent years |
Compare both for your actual numbers
There is no universally better regime — it depends entirely on your deductions. The slab rates, thresholds and the exact mechanics of opting in or out are revised from year to year, so treat this table as the concept, not the current figures, and confirm the live rates on the official portal. The practical step is to compute your tax under both and pick the lower.
Documents to keep ready
Gathering these before you start makes filing quick and accurate:
- PAN and Aadhaar — and they must be linked (see below).
- Form 16 if you are salaried, from your employer.
- Bank statements and interest certificates — savings, fixed deposits, bonds.
- Capital-gains statements for any sale of shares, mutual funds or property.
- Rent, home-loan and investment proofs for deductions you plan to claim (old regime).
- Your Annual Information Statement (AIS) and Form 26AS from the portal, as a cross-check against what the department already has on record.
If you run a business, your books, GST returns and expense records feed the computation — our GST services and GST registration guide connect naturally here, since GST and income-tax records should tell the same story.
Due dates — confirm each year
For most individual taxpayers who are not subject to audit, the filing due date has commonly fallen on 31 July following the financial year, with later dates for audit and business cases. The department sometimes extends these dates, and the belated-return window and its late fee also apply after the due date.
Do not rely on last year's date
Because due dates are occasionally shifted, always confirm the current year's deadline on incometax.gov.in before you plan around it. Filing on time avoids the late-filing fee and interest and preserves benefits such as carrying forward certain losses.
One prerequisite people overlook: your PAN must be linked with Aadhaar and operative. If it is not — often because of a name or date-of-birth mismatch — sort that out first with our PAN correction guide, because an inoperative PAN interferes with filing and refunds.
Where we help — and where you may need a CA
Honest scope
We assist with return preparation and filing — organising your documents, computing income under both regimes where that helps, and filing on the portal — with a fixed quote before we start. For a simple salaried return with a clean Form 16, many people file themselves for free on the portal, and we will happily say so.
Some cases genuinely need a chartered accountant — tax audits, complex capital gains, business accounts requiring certification, or contested notices. When your case is one of those, we will tell you plainly rather than take on work that should sit with a CA.
This page is general information, not tax advice. Your specific liability depends on your full financial picture and the current year's law. For a view on when paid help pays for itself, see doing it yourself versus using us.
The bottom line
The difference between a smooth application and a stuck one is usually preparation, not luck. Preparation is precisely what you are paying us for — and at our prices, it is the cheapest insurance this process offers.
Income tax filing, answered straight
Who is required to file an income tax return?
What is the difference between the old and new tax regime?
When is the last date to file an ITR?
What documents do I need to file my return?
Do I need to file if tax was already deducted (TDS)?
What happens if I file late or miss the deadline?
Is my PAN required to be linked with Aadhaar to file?
Can Harsiddhi Services file my return?
Need a hand filing your return?
Send us your Form 16 or income details on WhatsApp. We will tell you whether you need to file, which regime works better for you, and give you a fixed quote before any work begins.