Filing your ITR and checking AIS

Part of Income tax. 7 min read. Free lesson with a short video, quiz and practice.

An income tax return (ITR) is the form in which you report your income, deductions and tax paid for a tax year. Filing it closes the year's account with the tax department, whether you owe more tax or are owed a refund.

Who should file

• Anyone whose income before deductions is above the basic exemption limit.
• People who meet certain conditions even with lower income, for example large deposits, high foreign travel spending or high electricity bills.
• Anyone who wants a refund of extra TDS.
• Anyone with losses to carry forward: this is allowed only if the return is filed by the due date.

A filed return is also useful proof of income for loans and visas.

Which form

• ITR-1 (Sahaj): resident with total income up to ₹50 lakh from salary, house property and interest; long-term gains on shares up to ₹1.25 lakh are allowed.
• ITR-2: income including capital gains (beyond what ITR-1 allows), more property or foreign assets, but no business income.
• ITR-3: business or professional income, including F&O trading.
• ITR-4 (Sugam): small businesses and professionals on the presumptive scheme.

Key dates

• 31 July: ITR-1 and ITR-2.
• 31 August: ITR-3 and ITR-4 when no tax audit is needed (date set by Budget 2026).
• 31 October: cases that need a tax audit.
• 31 December: last date for a late (belated) return, with a fee of ₹5,000 (₹1,000 if income is up to ₹5 lakh).
• A filed return can be corrected (revised) up to 12 months from the end of the tax year; an extra fee applies after 31 December.

Check your AIS before filing

The AIS (Annual Information Statement) on the portal lists what the department already knows about you: salary, interest, dividends, share and fund sales, TDS and more. Your tax statement (Form 168, earlier Form 26AS) shows tax paid under your PAN. If your return leaves out something in the AIS, you may get a notice. If the AIS has a mistake, give feedback on it in the portal.

Filing step by step

1. Log in to incometax.gov.in with your PAN.
2. Download your AIS and Form 168; collect Form 130 (salary), bank interest and broker capital gains statements.
3. Choose the right ITR form and your tax regime.
4. Check the pre-filled data, add anything missing, and pay any balance tax.
5. Submit, then e-verify within 30 days (for example with an Aadhaar OTP). An unverified return counts as not filed.

Refunds usually reach your pre-validated bank account after the return is processed.