hamburger
×
Digit General Insurance Logo
Powered By Digit
mobile-img

Check Credit Score for FREE

Instant in 2 Mins. No Impact on Credit Score

desktop-img

How to File Income Tax Return Online for Salaried Employees?

What is an Income Tax Return?

The Income Tax Act 1961 mandates Indian taxpayers to furnish details of their income earned and applicable taxes on the same through a form. This form is known as an income tax return or ITR. An assessee, therefore, submits this form to the Income Tax Department of India.

Additionally, the information of income provided in this form pertains to a given financial year, i.e., a year commencing from April 1st and ending on March 31st of the subsequent year.

Furthermore, before we dig into how to file income tax returns for salaried employees, let’s understand who should file them. Individuals who fall into the following categories are liable to file ITR:

  • An assessee whose gross income is more than the basic exemption limit before deductions under Sections 80C, 80CCD, 80D, 80TTB, and 80TTB.

The table below summarises the basic exemption limits for FY 2024-25 and FY 2025-26.

Basic Exemption Limits for FY 2024-25 and FY 2025-26  
Age of the Taxpayer Amount of Income (Old tax regime – FY 2024-25 and FY 2025-26) Amount of Income (New tax regime - FY 2024-25)  Amount of Income (New tax regime - FY 2025-26)
Up to 60 years of age ₹2,50,000 ₹3,00,000 ₹4,00,000
Between 60 years to 80 years of age ₹3,00,000 ₹3,00,000 ₹4,00,000
Above the age of 80 years ₹5,00,000 ₹3,00,000 ₹4,00,000

  • An individual earning income from more than one source of income, such as a residential property, capital gains, investments, etc.
  • Individuals with investments or earnings from foreign assets.
  • An assessee with over ₹1 crore of deposits in the current accounts of one or more banks.
  • An individual who has made a payment of over ₹2,00,000 for the foreign travel of a person. (This person may or may not be a family member).
  • An assessee who has paid more than ₹1,00,000 as electricity charges in a year.

ITR Form for Salaried People

As mentioned earlier, any of the following income tax forms for salaried persons apply to individual taxpayers in India:

ITR Form Eligibility
ITR-1 (Sahaj)  Salaried employees with a total income of up to ₹50,00,000 must file their income tax returns with ITR-1. Here, the total income includes earnings under the ‘Income from Other Sources’ along with their salary. However, to file ITR-1, an assessee should not have more than one house property.
Additionally, his/her income from agriculture should not exceed ₹5,000.
ITR-2 It is applicable for those salaried persons whose total income exceeds ₹50,00,000. Moreover, individuals with more than one house property are eligible to file ITR-2. Additionally, you can file income tax returns with ITR-2 if you generate income from capital gains and/or other sources, but not from profits or gains from business or profession.
ITR-3 As a salaried employee, you can file an ITR-3 if you receive income from salary, business or profession, house property (one or multiple), capital gains, and other sources.

How to File Online ITR for Salaried Persons?

What Documents are Required for Filing ITR for Salaried Person?

When Should a Salaried Employee File ITR?

Why Should Salaried Employees File Income Tax Returns?

ITR Filing Last Date for Salaried Employees

Due Date to File an Income Tax Return Penalty Applicable to Taxpayers with Less Than ₹5 lakhs of Total Income Penalty Applicable to Taxpayers with Over ₹5 lakhs of Total Income
On or before July 31st  A late fee is not applicable in this case.  A late fee is not applicable in this case. 
From August 1 to December 31  ₹1,000  ₹5,000 
From January 1 to March 31  ₹1,000  ₹10,000 

FAQs about ITR for Salaried Employees