INCOME TAX RETURN IN DELHI

A person is required to file an Income Tax Return (ITR) form to the Indian Income Tax Department. It includes details on the individual’s income and the taxes that must be paid on it during the year. Information submitted in an ITR must be relevant to a certain fiscal year, which begins on April 1st and ends on March 31st of the following year.

Filing an income tax return in Delhi is an essential responsibility for individuals and businesses. The process requires accurate documentation, selecting the correct ITR form, and ensuring compliance with tax regulations. This guide provides a step-by-step approach to ITR filing in Delhi, covering necessary documents, tax slab details, common mistakes to avoid, and the importance of timely filing. Whether you’re a salaried employee, business owner, or investor, understanding e-filing ITR in Delhi ensures a smooth tax filing experience while avoiding penalties.

Step-by-Step Guide to File Income Tax Return

Step 1: Gather Required Documents

– PAN card

– Aadhaar card

– Form 16 (issued by your employer)

– Form 26AS (Annual Tax Statement)

– Bank account details

– Investment proofs and other relevant documents.

Step 2: Visit the Income Tax Department’s E-filing Portal i.e. https://www.incometax.gov.in/iec/foportal/

Step 3. Login/Register:

– If you’re a first-time user, register using your PAN.

– If you already have an account, log in with your credentials.

Step 4: Select the suitable ITR Form as per your financial income for the respective fiscal year:

– ITR-1 (Sahaj): For salaried individuals, rental income and other sources incomes are earning up to ₹50 lakh.

– ITR-2: For individuals and HUFs with income from capital gains or multiple properties in addition of ₹50 lakh.

– ITR-3: For individuals with business or professional income, salaries, house property, capital gains and other sources incomes. Directors and Partners ITR are filed through this ITR.

– ITR-4 (Sugam): For taxpayers under the presumptive taxation scheme.

Step 5: Fill in the Details:

– Enter your income details, deductions, and tax payments carefully.

– Verify the pre-filled data with Form 16, Form 26AS, AIS, TIS and other relevant documents.

Step 6: Compute Tax Liability as per financial details feed in the ITR forms:

7. Pay Tax (if computed as per the slab of Income Tax Act):

– If tax is payable, pay it through challan on the e-filing portal and enter the details.

Step 8. Review and Submit

– Carefully review all the details to ensure accuracy.

– Click on “Submit” to file your return.

Step 9. E-Verify the ITR

– After submission, verify your ITR using one of the following methods:

– Aadhaar OTP

– Net Banking

– Electronic Verification Code (EVC) via bank account, demat account, or ATM

– Sending a signed physical copy of ITR-V to CPC, Bengaluru (if not e-verifying online).

 

Documents Required for Filing ITR

The following documents/information are required for e-filing their ITR:

• Photo, PAN, Aadhaar, Mobile Number, Email id and Bank Details required for the first time registration user.
• Bank Statements for financial assessments of the individual, firm and company.
• Form 16 for the respective financial year for the Salaried Individuals
• Form 16A, 16B and 16C for other payments and transactions except salaries.
• Stock trading information and statements for computing capital gains/loss
• Rental income disclosures information for computing house tax income.
• Insurance policies for claiming deductions and exemptions
• Fixed Deposit Interest certificates from banks and Post Office Saving Schemes.
• Dividend Certificate
• Foreign Income.
• Home Loan Repayment Statements.

Income Tax Filing Due Dates for FY 2024-25 (AY 2025-26)

Nature of Taxpayer	Due Date for FY 2024-25 (if not revised)
Individual / HUF/ AOP/ BOI (Non-Audit Case) Firm / Trust / Society / Political Parties	31.07.2025
Businesses & Profession (Audit Case) Company / Firm / Trust / Society / Political Parties	31.10.2025
Businesses & Profession for Transfer Pricing (in case of foreign transactions)	30.11.2025
Revised Return / Belated Return	31.12.2025
Updated Return (ITR-U)	31.03.2030

 

Common Mistakes to Avoid When Filing ITR

1. Incorrect Personal Data: Ensure accurate details to prevent rejections.
2. Wrong ITR Form Selection: Choose the correct form based on your income sources.
3. Mismatch in Income and TDS Data: Verify with Form 26AS to avoid tax notices.
4. Non-Disclosure of All Incomes: Include capital gains, rental income, and interest earnings.
5. Incorrect Deduction Claims: Ensure valid documentation for deductions under tax exemptions Delhi.
6. Failure to E-Verify ITR: The process is incomplete without ITR verification.

 

Expert and Guidance Tips for Avoiding Mistakes when file ITR

It is essential to accurately file your Income Tax Return (ITR) in order to prevent penalties and guarantee a seamless tax procedure. Avoid the following typical errors while submitting your ITR:

1. INACCURATE PERSONAL DATA
   Verify that all personal information, including name, address, PAN, and bank account details, is entered accurately. Errors in these specifics may result in rejections or processing delays.2. SELECTING THE INCORRECT ITR FORM
   Selecting the wrong ITR form is a frequent error. Choose the right form according to your sources of income. If the incorrect form is used, the return may be deemed defective.

3. Inconsistent Income and TDS Information
   Make sure the revenue and TDS information you provide corresponds to the data on your Form 26AS and AIS. Notices from the tax agency may result from discrepancies.
4. Not disclosing all sources of income
   Every source of income, including capital gains, fixed deposits, rental income, and interest on savings accounts, needs to be disclosed. Penalties may result from failing to disclose any source of income.
5. Inaccurate Deduction Claim

Make sure you correctly claim deductions and include the required documentation. For example, if you are claiming deductions under section 80C, make sure you save the receipt for your related saving and interest receipts False statements may be examined and deductions may be denied.

6. Failing to non-submission of the ITR

ITR filing is not finished until it has been validated through different modes of OTP finalization. A physical copy of your ITR-V can be sent to the CPC, Bengaluru, or you can use Aadhaar OTP or net banking to electronically authenticate your ITR.

Hassle Free Income Tax Return Filing For Fy 2024-25

With the correct preparation and the appropriate resources, filing your income tax return (ITR) may be done without difficulty. The following advice can help the procedure go more smoothly:

 

1. Keep All Documents Close at Hand: Prior to beginning, make sure you have all required papers related to your financials for the respective financial year, including your bank records, investment evidence, Form 16, PAN card, and Aadhaar card.
2. Use the Online System: The e-filing portal offered by the Income Tax Department is effective and easy to use. To file your return online, register or sign in to the site.
3. Pick the Right Form: Depending on your source of income, pick the right ITR form. Errors will be avoided and time will be saved.
4. Pre-filled Data: Make use of the e-filing portal’s pre-filled data. Verify the information’s correctness by comparing it to your papers.
5. Claim Deductions/Exemptions/Rebates Confidently: To lower your taxable income, make sure you claim all relevant deductions under sections such as 80C, 80D, etc.
6. Cross Verification of the Declared Information: To prevent inconsistencies and mistakes, confirm all information entered.
7. Seek Professional Assistance: If you have any questions concerning any part of filing, think about speaking with a tax expert/CA/Advocates.
8. Not to forget E-Verify Your Return: After submitting your ITR, you may swiftly confirm it using online verification tools like Aadhaar OTP, Net Banking, or EVC.
9. Must Avoid to Last-Minute Filing: To prevent last-minute traffic and portal technical issues, begin the procedure early.
   
   10. Assured with the Acknowledgment: Download and save the acknowledgment for future use after submitting and confirming your return.

 

ITR Filing For Salaried Persons

An individual who gets a set amount of money from their employer in exchange for doing services under a contract of employment is considered a salaried employee for income tax reasons. Salaries, benefits, and other perks may be included in the revenue. After subtracting the allowable deductions and exemptions under the Income Tax Act of 1961, the salaried employee is responsible for paying income tax on the money received from such job. Each year, the salaried worker must submit an income tax return detailing their earnings, deductions, taxes paid, and any refunds they may have received.

A salaried employee’s ITR includes salary income, deductions, and exemptions. Income tax return filing for salaried employees Delhi ensures tax compliance and enables refunds.

 

Income Tax Slab For Fy 2024-25 (Ay 2025-26)

OLD TAX REGIME			NEW TAX REGIME
Range (in Rs.)	Income Tax Rate	Surcharge	Range (in Rs.)	Income Tax Rate	Surcharge
0 – 2,50,000	–	–	0 – 3,00,000	–	–
2,50,001 – 5,00,000	5%	–	3,00,001 – 7,00,000	5%	–
5,00,001 – 10,00,000	20%	–	7,00,001 – 10,00,000	10%	–
10,00,001 – 50,00,000	30%	–	10,00,001 – 12,00,000	15%	–
50,00,001 – 1,00,00,000	30%	10%	12,00,001 – 15,00,000	20%	–
1,00,00,001 – 2,00,00,000	30%	15%	15,00,001 – 50,00,000	30%	–
2,00,00,001 – 5,00,00,000	30%	25%	50,00,001 – 1,00,00,000	30%	10%
Above 5,00,00,000	30%	37%	1,00,00,001 – 2,00,00,000	30%	15%
			Above 2,00,00,000	30%	25%

 

Mandated To File Return As Per Income Tax Act If;

1.  You get money from a variety of sources, such as capital gains, real estate, investments, and more.

2. You have overseas asset profits or investments.
3. You have more than one crore rupees in current account deposits at one or more banks.
4. Over the course of a year, you have paid more than Rs 1,00,000 for power.
5. You have paid more than Rs 2,00,000 for your trip abroad.

 

Documents Required for Filing ITR for Salaried Person

Salaried Person must ready to have in hands to file ITR for salaried person.

• Aadhaar card
• Pan card
• Salary slips
• Bank statement/Passbook
• Form 16, 16A, and 26AS
• Capital gains statement
• Exemptions and Deductions under section 80C, 80CC, 80CCC, 80CCD, 80D and others

 

Why Should Salaried Employees File ITR?

Filing the ITR helps a salaried taxpayer in the following ways:

• Claim Refunds: Based on self-assessment, if an individual pays more tax in advance, they can claim a refund for excess tax deductions, including TDS on fixed deposits or rent.
• Simpler Loan Approvals: ITR is a crucial document lending institutions require as proof of income. Even if the income is not taxable, an ITR makes the approval process for a loan easier for salaried employees from Banks/Financial Institutions or any other lending institution.
• Visa Application: Some foreign embassies request ITR receipts when approving a visa. It demonstrates an individual’s income source in India and enhances the chances of obtaining a visa.
• Capital Management: Filing the ITR is particularly beneficial for stock market investors. Based on the ITR, an investor can carry forward the short-term capital losses for up to eight years.

 

Conclusion

At Filing Pool, we provide hassle-free ITR filing services Delhi tailored to individuals and businesses. Our income tax consultants Delhi ensure accurate filing, timely submissions, and maximum deductions. Whether you’re a salaried employee, business owner, or investor, our expert guidance ensures smooth tax compliance Delhi. Don’t wait until the last minute—file your income tax return Delhi with Filing Pool today!