Income Tax Return (ITR) Filing — Simple, Accurate & Compliant
What Is an Income Tax Return?
An ITR is a statutory declaration filed with the Income Tax Department to report your income, applicable deductions, taxes paid, and resulting liability for a given financial year. Filing ensures legal compliance, enables refund claims, supports loss carry-forward, and acts as official income proof for loans or visa applications.
Who Should File ITR?
Individuals whose income (salary, capital gains, rental, professional/business) exceeds basic exemption limits.
Taxpayers claiming TDS refunds—including NRIs.
Those wanting to carry forward capital/business losses.
Freelancers, influencers, traders, or digital professionals due to new profession codes in ITR-3 and ITR-4.
Key ITR Forms & Applicability ITR Form Who Should Use It?
ITR 1 (Sahaj)
Salaried individuals, pensioners, with taxable income ≤ ₹50 Lakh
ITR 2
Individuals/HUFs with capital gains, multiple properties, foreign assets
ITR 3
Those earning from business or profession, including influencers, F&O traders (new profession codes)
ITR 4 (Sugam)
Small taxpayers opting for presumptive scheme under Sections 44AD/44ADA
Residential Status: A Taxpayer's Eligibility Anchor
Tax residency determines whether global income or only Indian-sourced income is taxable. Resident status applies if
- In India ≥ 182 days in a FY, or
- ≥ 60 days in FY and ≥ 365 days in previous 4 FYs.
Indian citizens or PIOs enjoy a relaxed threshold of 182 days. NRIs and RNORs have specific declaratory rules.
Recent Regulatory Updates for AY 2025–26
- Updated filing deadline: Extended to 15 September 2025 for non-audit cases.
- New profession codes introduced for influencers (code 16021), F&O traders (21010), commission agents, and more in ITR 3/ 4 forms.
- ITR 3 now live for e-filing: Applicable for those with business, professional, or F&O income.
- ITR U enabled: Allows revision of ITR 1 and ITR 2 for AY 2021 22 & AY 2022 23 under Section 139(8A).
Step by Step Filing Process
01.
Determine residential status under Section 6 of the Income‑tax Act.
02.
Choose the correct ITR form based on income type/form categories.
03.
Gather required documents: PAN, Aadhaar, Form 16 (salaried), Form 26AS/AIS, bank statements, investment proofs, P&L, balance sheets (if applicable).
04.
Login at the e-filing portal, prefill data, compute income and deductions.
05.
Submit and e-verify within 30 days via OTP, net banking, Aadhaar, or EVC.
Why Filing On Time Matters?
• Avoid penalties: ₹1,000–₹5,000 (up to ₹10,000 if income > ₹5 Lakh).
• Carry-forward losses: Permissible only if return is filed on time.
• Interest liabilities: Under Section 234A for delayed tax payment.
• Claim refunds promptly through processing of Form 26AS/AIS.
RNPS Services: Your ITR Filing Partner
At RNPS Services, we offer a full suite of ITR filing support:
- Guidance on selecting the right ITR form
- Preparation using Form 26AS/AIS data plus document assistance
- Complete e-filing & e-verification support
- Advisory on profession-specific codes, especially for influencers, traders, and digital professionals
- Alerts & reminders for deadlines, and help with revised or updated return filing (ITR U)
- Post-filing support: tracking refunds, loss carry-forward, and responding to notices
F.A.Q.
Yes—filing a Nil return allows TDS refund claims and maintains a compliance history.
Use ITR‑3 or ITR‑4 based on your income structure. Report income under code 16021 in AY 2025–26.
Yes, using ITR‑U utility for AY 2021–22 and AY 2022–23, now available online.
Apply the rules in Section 6—with the 182‑day and 60/365‑day criteria. Indian citizens and PIOs get special treatment.
Get Started With RNPS Services...
Ensure your tax filing is accurate, timely, and stress‑free. RNPS Services offers:
- A free assessment of your tax profile
- Personalized filing support—including forms, verification, revisions
- Assistance tailored to salaried, self-employed, NRI, or gig professionals