ITR Filing 2026: Who Must File and Why It Matters:

The Income Tax Return (ITR) must always be filed by everyone, whether his/her income falls short of the threshold required for mandatory filing of the ITR. It is an official document that will have many uses.

The deadline for filing of ITR by salaried employees for Assessment Year 2026-27 is July 31, 2026.

A lot of people wonder if they need to file an ITR. This is not decided on the basis of your earnings alone-there are many other considerations involved here too.

Who Must File the Income Tax Return? Is it Compulsory for Salaried Individuals?

In case your total income exceeds the basic tax exemption level, then you must file the Income Tax Return. The basic tax exemption amount for FY 2025-26 under the Old Tax Regime is Rs 2.5 lakh and Rs 4 lakh under the New Tax Regime for persons whose age is below 60 years.

Nevertheless, earning an income less than these amounts does not necessarily exempt you from the task of filing ITR. There could be some instances when, despite earning a low income, you may need to file an ITR for claiming a TDS refund, carrying forward losses, or if you have carried out specific transactions.

A large number of employees who draw a salary feel that if tax is already deducted by the company on their behalf under the head TDS, there is no need for them to file the ITR. But this is a very popular myth. TDS is just a method of collection of tax and does not remove the obligation of filing the ITR under certain circumstances. There are other advantages of filing the ITR as well.

Filing of ITR Online

Online filing of ITR has become a lot simpler with the online filing portal that the government has provided. Once logged into the website using the PAN number, you will have to select the appropriate ITR form along with viewing the pre-filled details.

It is important that before you submit the return, you check the information and change it whenever required. This includes updating information about income earned elsewhere, tax deductions, foreign assets, tax credits, etc. After you have submitted the return, the return should be verified using Aadhaar OTP, net banking, demat account, or any other accepted means. Until and unless you verify the return, your return will not be considered filed.

By filing your ITR in time, you create an official financial history of yourself, which comes in handy while applying for a loan or visa. It is always better to file your ITR before the due date.