An Income Tax Return (ITR) is a form through which Indian taxpayers declare their income, expenses, deductions, and taxes paid in a financial year (April–March). Filing ITR ensures tax compliance, enables refunds, and helps build financial credibility.

There are seven types of ITR forms depending on income sources, salaried individuals, businesses, companies, or trusts. For example, ITR-1 is for salaried individuals with income up to ₹50 lakh, while ITR-3 applies to those earning from business or profession.

Filing is mandatory if your annual income exceeds ₹2.5 lakh (₹3 lakh for senior citizens), if you want a refund, carry forward losses, or hold foreign assets. Companies, firms, and charitable trusts must always file.

The due dates for AY 2025-26 are: September 15, 2025 (individuals), October 31, 2025 (audit cases), and November 30, 2025 (transfer pricing cases). Belated or revised returns can be filed till December 31, 2025. Late filing may attract a penalty up to ₹5,000 and loss of carry-forward benefits.

To file online, visit www.incometax.gov.in