First-Time ITR Filing? Crucial Steps Most People Miss | Image Source: www.ndtvprofit.com
NEW DELHI, India, April 10, 2025 – As fiscal year 2024-25 ends and the 2025-26 contribution year begins, taxpayers from all over India are preparing for the annual tax filing ritual (AR). For many, this is a routine process. But for the first files, the experience can be overwhelming - a maze of shapes, numbers and acronyms that do not always come with clear directions.
The good news? Filling your online ITR is not as complicated as it seems. But this requires planning, a clear understanding of your financial documents and some practical knowledge. With the Department of Income Tax set up to publish the official ITR forms in April, it is good to move the curve forward and prepare its return in the right way.
Why is the year of evaluation so important?
Each fiscal year ends on March 31 and the following year is known as the valuation year, the period in which its previous year’s revenues are reviewed and taxed. This year, it is AY 2025-26, which means that it has returns for revenues earned between April 1, 2024 and March 31, 2025. Understanding this schedule is essential, because everything from the forms you complete to the refunds you receive depends on it.
Q: Can I file my ITR right now?
A: Not yet. Based on the above trends and according to The Financial Express, the Department of Income Tax usually publishes the required IRT forms in April. It is only after the publication of these forms and the activation of the corresponding profits on the electronic fill portal that taxpayers can begin to submit returns.
Form 16: Your Bible Summary Tax
For salty individuals, form 16 is indispensable. Issued by his employer, he summarizes his total income and tax withheld at source. But this is not the only document you need. According to the recommendations of the Income Tax Department, other essential documents are:
- Monthly salary slips
- Form 26AS
- Annual Information Statement (AIS)
- Taxpayer Information Summary (TIS)
The use of these documents together can help ensure that the reported revenues and taxes deducted are exactly the same, thus reducing the risk of errors or control during processing.
10 first-hour things you should know
If you are new to the IRT presentation, here are ten critical points to consider:
- Get your documents ready: PAN, Aadhaar, Form 16, rent receipts, interest certificates, and capital gains records.
- Know your exemption limit: Under the old regime, it remains Rs 2.5 lakh. Anything above requires filing.
- Select the right ITR form: The department provides seven types; choosing the wrong one could lead to rejection.
- Check for changes: For AY 2025–26, Form ITR-2 has undergone some modifications — review them before proceeding.
- Link PAN with Aadhaar: This is mandatory, and details must match exactly for successful verification.
- Understand deductions: For example, the standard deduction under the new tax regime has risen to Rs 75,000.
- Compare with previous filings: Tax authorities may now compare your returns across years, so ensure consistency.
- Validate your bank account: It must be linked to your PAN and pre-validated for refund credit.
- Stay alert for notifications: The IT department might email you if there are discrepancies or issues with your return.
- Use the portal efficiently: Familiarize yourself with the e-filing website to avoid last-minute glitches.
When should you expect your tax refund?
This is one of the most frequently asked questions every year. However, the response depends on several variables. CA (Dr.) Suresh Surana, speaking with The Financial Express, stated that repayment times depend to a large extent on the accuracy of the return, the speed of electronic verification and whether the return is chosen for further examination.
Q: If I file my return in April, when will I get my refund?
A: Technically, the objective of the Income Tax Department is to issue refunds within 7 days for quick and accurate presentations. But realistically, as Surana pointed out, many people receive their refunds within four to five weeks of electronic verification, provided there are no errors or errors.
So if you submitted and checked e- in the first or second week of April, you can reasonably wait for your refund for May – assuming everything is perfectly aligned.
What if your refund doesn’t come in time?
Patience is good, but action is better. This is what the tax department recommends:
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- Double-check your ITR for any errors.
- Scan your email for communication from the department.
- Use the refund status tool on the e-filing portal to track updates.
Q: Can I call someone if my refund is delayed?
A: Although there is no dedicated reimbursement helpline, CPC (Central Processing Centre) processes applications by email and telephone. It is preferable to use the electronic profile portal first to track the state and only the scale if it is significantly delayed without explanation.
Step by Step Guide to Completing ITR Online
Once file utilities are enabled, here is a simplified breakdown of how to get your archived report without problems:
- Visit the official income tax e-filing portal.
- Login using your PAN credentials (register if you’re new).
- Select the assessment year and appropriate ITR form (e.g., ITR-1 for most salaried individuals).
- Fill in all required details — income, deductions, exemptions.
- Validate the details and submit.
- Complete the process with e-verification (via Aadhaar OTP, EVC, or NetBanking).
Each section of the form includes a guide to help you complete it accurately. Don’t rush, mistakes often result in delays in prosecutions or an additional tax obligation.
Understanding old tax regimes in relation to new tax systems
The choice between the two tax systems has become more nuanced. Although the new plan has reduced fees and exemptions, it now includes a higher standard deduction of Rs. 75,000. On the other hand, the old plan still benefits those with multiple deductions in sections such as 80C, 80D and HRA.
Q: How do I know which regime is better for me?
A: This depends on its wage structure, investments and deductions. There are several free online calculators provided by financial portals and banks that allow you to compare your tax production under both plans.
Looking forward: What changes with the ITR filling?
Although the ITR forms for AY 2025-26 are expected to reflect last year’s structure, subtle changes – such as the facts for Form ITR-2 – may affect your presentation experience. According to a News24Online report, it is essential to track these updates, especially if your income includes capital gains or foreign assets.
The 2025 Finance Bill also introduced a provision that allows the Department to compare its current performance with previous years. This means that coherence is now more critical than ever. Unexplained deficiencies, omissions or variations may result in consultations or reassessments.
“Taxpayers should not view the presentation as a routine administrative task,” said CA Surana in Financial Express. “This is increasingly a data-based process, with smart comparisons over time. A slide can lift a red flag.”
In other words, the tax service is becoming more sophisticated and taxpayers must react in kind, with surveillance, accuracy and planning.
For older and experienced taxpayers, the presentation season is both a responsibility and an opportunity. With the right documents, some preparation and attention to details, you can not only comply with the law, but maybe get a refund in a timely manner, too.
Before you press this button, ask yourself if I checked everything. Because when it comes to taxes, an ounce of preparation is worth a pound of reimbursement.
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