{"id":303,"date":"2025-06-24T14:15:18","date_gmt":"2025-06-24T14:15:18","guid":{"rendered":"https:\/\/www.cashweta.co.in\/blog\/?p=303"},"modified":"2025-06-24T14:15:19","modified_gmt":"2025-06-24T14:15:19","slug":"itr-filing-for-employees","status":"publish","type":"post","link":"https:\/\/www.cashweta.co.in\/blog\/itr-filing-for-employees\/","title":{"rendered":"A Step-by-Step Guide to Filing Income Tax Returns (ITR) for Employees in India"},"content":{"rendered":"\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1536\" height=\"1024\" src=\"https:\/\/www.cashweta.co.in\/blog\/wp-content\/uploads\/2025\/06\/image-30.png\" alt=\"\" class=\"wp-image-304\" srcset=\"https:\/\/www.cashweta.co.in\/blog\/wp-content\/uploads\/2025\/06\/image-30.png 1536w, https:\/\/www.cashweta.co.in\/blog\/wp-content\/uploads\/2025\/06\/image-30-300x200.png 300w\" sizes=\"auto, (max-width: 1536px) 100vw, 1536px\" \/><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\">Introduction<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Filing your Income Tax Return (ITR) might sound complicated, but it doesn\u2019t have to be. If you&#8217;re a salaried employee, filing your ITR is not only a legal obligation but also a smart financial move\u2014it helps you claim refunds, carry forward losses, and act as proof of income when applying for loans or visas.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In this easy-to-follow guide, the team at <strong>Makwana Sweta &amp; Associates<\/strong>, a reputed <strong>CA firm in Mumbai<\/strong> offering <strong>PAN India CA services<\/strong>, walks you through everything you need to know to file your ITR confidently for <strong>FY 2024-25 (AY 2025-26)<\/strong>.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Who Should File ITR?<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Every salaried individual must file an ITR if:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Your total annual income exceeds <strong>\u20b92.5 lakh<\/strong> (below 60 years), \u20b93 lakh (60\u201380 years), or \u20b95 lakh (80+ years)<\/li>\n\n\n\n<li>You want to <strong>claim a refund<\/strong> on excess TDS<\/li>\n\n\n\n<li>You have <strong>foreign assets or income<\/strong><\/li>\n\n\n\n<li>You want to <strong>carry forward capital losses<\/strong><\/li>\n\n\n\n<li>You want to apply for a <strong>loan or visa<\/strong><\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">Documents Required for ITR Filing<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Before you get started, keep these ready:<\/p>\n\n\n\n<ol class=\"wp-block-list\">\n<li><strong>Form 16<\/strong> from your employer (TDS summary)<\/li>\n\n\n\n<li><strong>PAN and Aadhaar card<\/strong><\/li>\n\n\n\n<li><strong>Salary slips<\/strong> (if no Form 16)<\/li>\n\n\n\n<li><strong>Bank statements<\/strong> (interest earned, income received)<\/li>\n\n\n\n<li><strong>Form 26AS<\/strong> (download from <a class=\"\" href=\"https:\/\/www.tdscpc.gov.in\/\">TRACES Portal<\/a>)<\/li>\n\n\n\n<li><strong>Annual Information Statement (AIS)<\/strong><\/li>\n\n\n\n<li><strong>Investment proofs<\/strong> (Section 80C, 80D, etc.)<\/li>\n\n\n\n<li><strong>Rent receipts<\/strong>, if claiming HRA<\/li>\n\n\n\n<li><strong>Capital gains reports<\/strong> (mutual funds, shares)<\/li>\n\n\n\n<li><strong>Other income details<\/strong> (FDs, side income, freelance, etc.)<\/li>\n<\/ol>\n\n\n\n<h3 class=\"wp-block-heading\">Choosing the Correct ITR Form (2025)<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Most salaried employees fall under <strong>ITR-1 (Sahaj)<\/strong>. Use this if:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Total income \u2264 \u20b950 lakh<\/li>\n\n\n\n<li>Income from salary, one house property, and other sources (FDs, savings interest)<\/li>\n\n\n\n<li>No foreign income or capital gains<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">Use <strong>ITR-2<\/strong> if you have:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Capital gains<\/li>\n\n\n\n<li>Foreign assets or income<\/li>\n\n\n\n<li>Income > \u20b950 lakh<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">New Tax Regime vs Old: What to Choose in 2025<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">As of Budget 2025, the <strong>new tax regime (default)<\/strong> has reduced slab rates but no deductions. Compare it with the old regime to pick the better one.<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><thead><tr><th>Income Slab (New Regime)<\/th><th>Tax Rate<\/th><\/tr><\/thead><tbody><tr><td>\u20b90 \u2013 \u20b93 lakh<\/td><td>0%<\/td><\/tr><tr><td>\u20b93 \u2013 \u20b96 lakh<\/td><td>5%<\/td><\/tr><tr><td>\u20b96 \u2013 \u20b99 lakh<\/td><td>10%<\/td><\/tr><tr><td>\u20b99 \u2013 \u20b912 lakh<\/td><td>15%<\/td><\/tr><tr><td>\u20b912 \u2013 \u20b915 lakh<\/td><td>20%<\/td><\/tr><tr><td>\u20b915 lakh+<\/td><td>30%<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Tip:<\/strong> If you have <strong>80C, 80D, HRA<\/strong>, and home loan interest, the <strong>old regime<\/strong> may save you more. Use the <strong>Income Tax Calculator<\/strong> on the <a class=\"\" href=\"https:\/\/incometax.gov.in\/\">Income Tax Portal<\/a> to compare.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">How to File ITR: Step-by-Step (2025)<\/h3>\n\n\n\n<h3 class=\"wp-block-heading\">1. <strong>Register\/Login to Income Tax Portal<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Go to <a class=\"\" href=\"https:\/\/www.incometax.gov.in\">www.incometax.gov.in<\/a> \u2192 Click on \u201cLogin\u201d \u2192 Use PAN and OTP to log in.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">2. <strong>Choose \u2018e-File\u2019 \u2192 Income Tax Return<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Select the assessment year as <strong>2025-26<\/strong>, mode of filing: <strong>Online<\/strong>, ITR form type: <strong>ITR-1<\/strong> or <strong>ITR-2<\/strong><\/p>\n\n\n\n<h3 class=\"wp-block-heading\">3. <strong>Pre-fill &amp; Verify Your Data<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">The portal auto-fills data from your Form 16, 26AS, AIS, and PAN. Check every detail:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Salary income<\/li>\n\n\n\n<li>Interest income<\/li>\n\n\n\n<li>Deductions (80C, 80D, 80G, etc.)<\/li>\n\n\n\n<li>Bank account details for refund<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">4. <strong>Add Deductions Manually<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">If not pre-filled, enter eligible deductions:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>80C: \u20b91.5 lakh (LIC, PF, ELSS, tuition)<\/li>\n\n\n\n<li>80D: Medical insurance<\/li>\n\n\n\n<li>80TTA: Savings interest<\/li>\n\n\n\n<li>24(b): Home loan interest (\u20b92 lakh limit)<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">5. <strong>Choose Tax Regime (Old\/New)<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Make a conscious selection. Once submitted, it can\u2019t be changed for the year.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">6. <strong>Validate &amp; Submit<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Double-check everything. Click <strong>Submit<\/strong>.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">7. <strong>e-Verify Your Return<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Use <strong>Aadhaar OTP<\/strong>, <strong>Net banking<\/strong>, or <strong>EVC<\/strong> to complete verification. This is <strong>mandatory<\/strong> for processing.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">What Happens After Filing?<\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>You\u2019ll get an <strong>ITR-V acknowledgement<\/strong> on your email<\/li>\n\n\n\n<li>Track return status on the portal<\/li>\n\n\n\n<li>Refund (if any) is generally processed within <strong>7\u201345 days<\/strong><\/li>\n\n\n\n<li>If selected for <strong>scrutiny<\/strong>, respond promptly (we\u2019ve written <a>this guide<\/a> to help)<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">Common Mistakes to Avoid<\/h3>\n\n\n\n<ol class=\"wp-block-list\">\n<li><strong>Incorrect PAN\/Aadhaar linking<\/strong><\/li>\n\n\n\n<li>Selecting wrong <strong>ITR form<\/strong><\/li>\n\n\n\n<li><strong>Mismatch<\/strong> in Form 16 vs 26AS<\/li>\n\n\n\n<li>Ignoring <strong>side income<\/strong><\/li>\n\n\n\n<li>Forgetting to <strong>e-verify<\/strong><\/li>\n\n\n\n<li>Claiming ineligible <strong>deductions<\/strong> under the new regime<\/li>\n<\/ol>\n\n\n\n<h3 class=\"wp-block-heading\">Deadline for FY 2024-25 ITR Filing<\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Due Date:<\/strong> July 31, 2025<\/li>\n\n\n\n<li><strong>Late Filing Penalty:<\/strong> Up to \u20b95,000 (if filed after deadline)<\/li>\n\n\n\n<li><strong>Last Date to File with Penalty:<\/strong> December 31, 2025<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">Should You Take Help from a CA?<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">If you have:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Income from multiple sources<\/li>\n\n\n\n<li>Capital gains<\/li>\n\n\n\n<li>Doubts about deductions or new regime<\/li>\n\n\n\n<li>Foreign assets<\/li>\n\n\n\n<li>High-value transactions<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">\u2026 then consulting a professional <strong>Chartered Accountant in Mumbai<\/strong> like <strong>Makwana Sweta &amp; Associates<\/strong> can help you file accurately, claim maximum refunds, and avoid notices.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Final Thoughts<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Filing ITR is easy if done right. It shows you are financially responsible and can actually help you save money.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Need help with <strong>ITR filing for employees<\/strong>? Our expert team of <strong>Tax Consultants in Mumbai<\/strong> and PAN India is here to assist you end-to-end\u2014from choosing the best tax regime to getting your refund processed quickly.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Quick Summary:<\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Form to use:<\/strong> ITR-1 (or ITR-2 for capital gains\/foreign income)<\/li>\n\n\n\n<li><strong>Documents:<\/strong> Form 16, 26AS, AIS, proofs<\/li>\n\n\n\n<li><strong>Tax regime:<\/strong> Compare both using a calculator<\/li>\n\n\n\n<li><strong>Deadline:<\/strong> July 31, 2025<\/li>\n\n\n\n<li><strong>e-Verification:<\/strong> Mandatory to complete the process<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">Useful Links<\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a class=\"\" href=\"https:\/\/www.incometax.gov.in\/\">Income Tax Portal<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/www.incometax.gov.in\/iec\/foportal\/ais-faq\">AIS Portal<\/a><\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">For Tax and Accounting Services in Mumbai, <a href=\"https:\/\/www.cashweta.co.in\/\">reach out to us at CA Makwana Sweta &amp; Associates<\/a><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Introduction Filing your Income Tax Return (ITR) might sound complicated, but it doesn\u2019t have to be. If you&#8217;re a salaried employee, filing your ITR is not only a legal obligation but also a smart financial move\u2014it helps you claim refunds, carry forward losses, and act as proof of income when applying for loans or visas. &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[34],"tags":[32,25],"class_list":["post-303","post","type-post","status-publish","format-standard","hentry","category-tax-consultants","tag-chartered-accountant-in-mumbai","tag-tax-consultants-in-mumbai"],"_links":{"self":[{"href":"https:\/\/www.cashweta.co.in\/blog\/wp-json\/wp\/v2\/posts\/303","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.cashweta.co.in\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.cashweta.co.in\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.cashweta.co.in\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.cashweta.co.in\/blog\/wp-json\/wp\/v2\/comments?post=303"}],"version-history":[{"count":1,"href":"https:\/\/www.cashweta.co.in\/blog\/wp-json\/wp\/v2\/posts\/303\/revisions"}],"predecessor-version":[{"id":305,"href":"https:\/\/www.cashweta.co.in\/blog\/wp-json\/wp\/v2\/posts\/303\/revisions\/305"}],"wp:attachment":[{"href":"https:\/\/www.cashweta.co.in\/blog\/wp-json\/wp\/v2\/media?parent=303"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.cashweta.co.in\/blog\/wp-json\/wp\/v2\/categories?post=303"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.cashweta.co.in\/blog\/wp-json\/wp\/v2\/tags?post=303"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}