Are you a salaried individual unsure about how to file your Income Tax Return (ITR)? You’re not alone—many people find the process confusing, especially the first time. But don’t worry; with the right guidance, filing your ITR can be straightforward and stress-free. As a salaried employee, filing your ITR is essential not just for compliance, but also to claim refunds, maintain financial records, and avoid penalties. This easy-to-follow guide will walk you through the entire process, from gathering your documents like Form 16 and salary slips to choosing the correct ITR form, registering on the income tax e-filing portal, and submitting your return online. It also covers common mistakes to avoid and tips for verifying your return once filed. Whether you’re filing on your own or considering help from a tax expert, this guide will ensure you’re equipped with everything you need to file your ITR with confidence.
Why Filing ITR Is Important for Salaried Individuals
Filing your income tax return is a legal requirement and has several other benefits:
- Claim tax refunds
- Maintain clean financial records
- Serve as income proof for loans
- Required for visa processing
- Avoid penalties and interest for non-compliance
Let’s get started on your ITR filing journey!
What is ITR?
Income Tax Return (ITR) is a form where taxpayers declare their income, deductions, and taxes paid. This form is submitted to the Income Tax Department annually. Filing your ITR ensures transparency in financial dealings and helps the government assess your tax liability.
Who is a Salaried Employee?
A salaried employee is someone who receives a fixed income from an employer in exchange for services rendered. This includes wages, bonuses, and other benefits. If your income exceeds the basic exemption limit, you are required to file ITR.
Basic Tax Exemption Limits
For the financial year 2023-24, the exemption limits are:
| Age Group | Old Tax Regime | New Tax Regime |
|---|---|---|
| Up to 60 years | INR 2,50,000 | INR 3,00,000 |
| 60-80 years | INR 3,00,000 | INR 3,00,000 |
| Above 80 years | INR 5,00,000 | INR 3,00,000 |
Additional conditions requiring ITR filing:
- Total deposits in current accounts exceed INR 1 crore
- Electricity expenses exceed INR 1 lakh/year
- Foreign income or assets
- International travel expenses exceed INR 2 lakh
When Should You File ITR?
You should file ITR if your income exceeds the exemption limit:
- FY 2022-23: INR 2,50,000 (both regimes)
- FY 2023-24: INR 2,50,000 (old), INR 3,00,000 (new)
File between April 1 and July 31 to avoid late fees and penalties.
ITR Forms for Salaried Employees
Choose the right form:
- ITR-1 (SAHAJ): Income < INR 50 lakh from salary, one house property, other sources.
- ITR-2: Salary + capital gains, foreign income, more than one house.
- ITR-3: Salary + business income.
- ITR-4: Presumptive income (sections 44AD, 44ADA, 44AE), income < INR 50 lakh.
Documents Required
- Aadhaar Card
- PAN Card
- Form 16 & 16A
- Form 26AS
- Salary slips
- Bank statements
- Investment proofs (LIC, PPF, ELSS, etc.)
- Rent receipts (if HRA is claimed)
- Home loan interest certificate
- Medical bills
- Capital gains statement
How to Register on the e-Filing Portal
- Visit https://www.incometax.gov.in
- Click on ‘Register’
- Select ‘Taxpayer’
- Enter your PAN and validate it
- Fill in personal details
- Verify email and mobile via OTP
- Set password and login message
- Complete registration
Steps to File ITR Online
- Login to the portal
- Go to ‘e-File’ > ‘File Income Tax Return’
- Select assessment year (AY 2024-25 for FY 2023-24)
- Choose status: Individual
- Select ITR form (usually ITR-1)
- Choose filing reason: above exemption limit or mandatory filing
- Review pre-filled data
- Verify deductions and income details
- Make payment if tax is due
- E-verify the return
How to File ITR Offline
- Download utility from the Income Tax website
- Fill in the required fields
- Collect and attach supporting documents
- Calculate taxes and pay if due
- Validate the form and generate JSON file
- Upload the file on the portal
- E-verify using OTP, net banking, or EVC
Filing Without Form 16
Don’t worry if you don’t have Form 16. Use:
- Bank statements
- Salary credits
- Investment proofs
- Rent receipts
- Form 26AS for TDS
Declare all income sources, estimate deductions, and file the return accurately.
How to Check Filing Status
- Login to the portal
- Go to ‘e-File’ > ‘Income Tax Returns’ > ‘View Filed Returns’
- View the return status and download ITR-V if needed
ITR Filing Deadline
- Start Date: April 1, 2024
- Last Date (without penalty): July 31, 2024
- Belated Return Filing: Till December 31, 2024 (with penalty)
Filing Guidelines for Salaried Individuals
- Ensure accuracy in personal and financial details
- Cross-check Form 26AS
- Declare all income sources
- Use correct ITR form
- Double-check deductions
- Verify ITR to complete the process
- Keep a copy of the acknowledgment
Benefits of Filing ITR
- Legal compliance
- Eligibility for loans and credit cards
- Claim TDS refunds
- Proof of income for visa or immigration
- Avoid legal penalties
- Access to government schemes
Wrapping Up
Filing your ITR is not just about compliance—it reflects your financial discipline. With this guide, you can confidently file your return without depending on a third party. Whether you choose to do it online or offline, ensure accuracy, completeness, and timely submission.
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Frequently Asked Questions
Is it mandatory for salaried employees to file ITR?
Yes, filing ITR is compulsory if your annual income exceeds the basic exemption limit under the applicable tax regime.
Which ITR form should a salaried person use?
Salaried individuals typically use ITR-1 (SAHAJ) if their income is up to ₹50 lakh from salary, one house property, and other sources like interest income.
Can I file ITR without Form 16?
Yes, you can file your return using your salary slips, bank statements, Form 26AS, and AIS to calculate your income and tax details.
What is the last date to file ITR for FY 2023-24?
The due date for filing ITR is 31st July 2024, unless extended by the Income Tax Department.
Conclusion
Filing your ITR as a salaried individual doesn’t have to be a stressful experience. With the right documents, basic knowledge, and a step-by-step approach, you can complete the process smoothly and on time. Filing accurately not only keeps you compliant but also helps in quick refunds and financial planning.
