Income Tax Return Filing
Income Tax Return (ITR) filing in India is an annual compliance requirement applicable to all taxpayers. Accordingly, non-residents who earn income that is taxable in India are also required to file their ITR. Such taxable income for non-residents generally includes:
- Rental income from house property
- Capital gains from the sale of property, mutual funds and securities
- Dividend income from shares and mutual funds
- Interest Income from Bank Account (NRO, NRE Account)
- Business/Professional income from India
Individuals
Applicability of Filing Income Tax Returns in India
India, being a progressive tax jurisdiction, follows two income tax regimes – namely, the Old Regime and the New Regime. Under the Old Regime, various deductions and exemptions are available, whereas under the New Regime, most deductions and exemptions are not permitted.
An individual is required to file an Income Tax Return (ITR) if their total taxable income in India during the relevant Financial Year [FY] (April to March) exceeds the basic exemption limit, i.e., INR 2,50,000 under the Old Regime and INR 4,00,000 under the New Regime.
However, filing of an ITR becomes mandatory in the following cases, even if the total taxable income does not exceed the basic exemption limit:
- Aggregate deposits in one or more current accounts exceed INR 1 crore during the financial year
- Aggregate deposits in one or more savings bank accounts exceed INR 50 lakh during the financial year
- Expenditure on foreign travel exceeds INR 2 lakh in the financial year
- Electricity consumption expenditure exceeds INR 1 lakh in the financial year
- Total business turnover exceeds INR 60 lakh during the financial year
- Gross professional receipts exceed INR 10 lakh during the financial year
- Aggregate TDS/TCS credits equal or exceed INR 25,000 (INR 50,000 for senior citizens) during the financial year
- Individual holds any foreign asset, has signing authority in a foreign account, or derives income from a foreign source
- Individual intends to claim a refund of taxes or carry forward any business or capital loss.
Due Dates of filing ITR in India (Financial Year 2025-26 onwards):
| Category of Individuals | Condition | Due Date for Filing ITR |
| Individuals not having income from business or profession | No additional condition | 31st July |
| Individuals having income from business or profession | Accounts not required to be audited | 31st July |
| Individuals having income from business or profession | Accounts required to be audited | 31st October |
| Individuals required to furnish transfer pricing report | No additional condition | 30th November |
Dates of filing ITR in India (Financial Year 2026-27 onwards):
| Category of Individuals | Condition | Due Date for Filing ITR |
| Individuals not having income from business or profession | No additional condition | 31st July |
| Individuals having income from business or profession | Accounts not required to be audited | 31st August |
| Individuals having income from business or profession | Accounts required to be audited | 31st October |
| Individuals required to furnish transfer pricing report | No additional condition | 30th November |
Partnership Firm
Income Tax Return (ITR) filing in India is an annual compliance requirement for all taxpayers, and partnership firms are no exception. For a partnership firm, the process of filing ITR is particularly important, as they are expected to maintain higher compliance with tax obligations. Similarly, a non-resident Indian (NRI) who owns a partnership firm in India is also required to file the partnership firm’s ITR and adhere to all applicable tax compliances.
Applicability of Filing Income Tax Returns in India:
A partnership firm is required to file an Income Tax Return (ITR) in India for the relevant Financial Year (April-March), irrespective of whether its total taxable income exceeds the basic exemption limit or not.
Due Dates of Filing ITR in India:
Due Dates of filing ITR in India (Financial Year 2025-26 onwards):
| Category of Partnership Firm | Condition | Due Date for Filing ITR |
| Partnership firm having income from business or profession | Accounts not required to be audited | 31st July |
| Partnership firm having income from business or profession | Accounts required to be audited | 31st October |
| Partnership firm required to furnish transfer pricing report | No additional condition | 30th November |
Dates of filing ITR in India (Financial Year 2026-27 onwards):
| Category of Partnership Firm | Condition | Due Date for Filing ITR |
| Partnership firm having income from business or profession | Accounts not required to be audited | 31st August |
| Partnership firm having income from business or profession | Accounts required to be audited | 31st October |
| Partnership firm required to furnish transfer pricing report | No additional condition | 30th November |
Company
Income Tax Return (ITR) filing in India is an annual compliance requirement for all taxpayers, and companies are no exception. For a company, the process of filing ITR is particularly important, as they are expected to maintain higher compliance with tax obligations. Similarly, a non-resident Indian (NRI) who owns a company in India is also required to file the company’s ITR and adhere to all applicable tax compliances.
Applicability of Filing Income Tax Returns in India
A company is required to file an Income Tax Return (ITR) in India for the relevant Financial Year (April-March), irrespective of whether its total taxable income exceeds the basic exemption limit or not.
Due Dates of Filing ITR in India:
| Type of Company | Due Date for Filing ITR |
| All Companies (other than companies required to furnish Transfer pricing report) | 31st October |
| Companies required to furnish Transfer Pricing Report | 30th November |
Trust
Income Tax Return (ITR) filing in India is an annual compliance requirement for all taxpayers, and trusts are no exception. For trusts, the process of filing ITR is particularly important, as they are expected to maintain higher compliance with their tax obligations. Similarly, a non-resident Indian (NRI) who manages or establishes a trust in India is also required to file the trust’s ITR and comply with all applicable tax regulations.
Applicability of Filing Income Tax Returns in India
A Trust is liable to file ITR if its total taxable income in India without giving the applicable exemption under the provision of income tax laws in the Financial Year [FY] (April –March) exceeds the basic exemption limit for the Relevant Financial Year.
Due Dates of Filing ITR in India:
| Type of Trust | Due Date for Filing ITR |
| All Trusts (other than trust required to furnish Transfer pricing report) | 31st October |
| Trusts required to furnish Transfer Pricing Report | 30th November |
Advance Tax
Advance tax is the income tax paid by a taxpayer during the financial year itself. Under this mechanism, taxpayers estimate their annual income pay tax in specified instalments rather than paying the entire amount at the end of the year.
Applicability of Advance Tax
Advance tax becomes payable by the tax payer, if total tax liability for the financial year exceeds INR 10,000. However, advance tax is not required to be paid by resident senior citizens (60+ years), not having income from business or profession.
Instalments of Advance Tax
For Taxpayers (Other Than Presumptive Taxation)
| Due Date | Advance Tax Payable |
| 15th June | At least 15% of total tax liability |
| 15th September | At least 45% cumulative |
| 15th December | At least 75% cumulative |
| 15th March | 100% of total tax liability |
| 31st March | Last date to pay any shortfall |
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