A Step-by-Step Guide to E-Filing Your ITR for FY 2024-25

Synopsis: This article breaks down the e-filing process for FY 2024–25. It covers prerequisites, ITR form selection, portal steps, and common filing errors. Helps taxpayers file accurately and avoid delays or penalties.

Introduction

Filing your Income Tax Return (ITR) is not just a legal obligation; it’s an important part of responsible financial planning. An ITR is a form used to declare your annual income, deductions, and taxes paid to the Income Tax Department of India. Whether you’re a salaried professional, a business owner, or someone with capital gains or rental income, timely and accurate filing ensures you’re in full compliance with the law.

E-filing your return has become the preferred method for most taxpayers. It is faster, more secure, and significantly reduces the chances of manual errors. The system has improved steadily over the years, with pre-filled data, easy access to your tax records, and real-time verification features that simplify the process for individuals and businesses alike.

The purpose of this article is to guide you through each step involved in e-filing your ITR for the Financial Year 2024–25 (Assessment Year 2025–26), with practical tips and clarity at every stage. Whether you’re filing it yourself or with professional help, this guide is designed to ensure you complete the process with confidence.

Prerequisites for E-Filing Your ITR for FY 2024–25

Before starting the income tax return filing process, it is important to put together all the necessary documents and the right resources. Filing an accurate return depends on the purity of the information you provide, and having these predecessors on site can help you complete your return evenly.

PAN Card and Aadhaar Card: Both are mandatory for filing your return. Make sure your Aadhaar is linked to your PAN. This linkage is essential for verification and e-filing.

Bank Account Details: You’ll need the account number and IFSC code of at least one active bank account. This is required for processing refunds, if any. Also, ensure that your bank account is pre-validated on the income tax portal.

Form 16: If you’re a salaried individual, your employer will issue Form 16. It contains details of your income and the TDS deducted. Always cross-verify this with your salary slips and Form 26AS.

Form 16A: If you’ve earned income from sources other than salary, such as interest on FDs or professional fees, Form 16A will show the TDS deducted on those earnings. It’s usually issued by banks or clients who deduct tax at source.

Form 26AS: This consolidated tax credit statement shows all taxes deposited against your PAN, including TDS, TCS, advance tax, and self-assessment tax. It’s crucial to verify this to avoid mismatches during filing.

AIS and TIS: The Annual Information Statement (AIS) and Taxpayer Information Summary (TIS) provide a detailed overview of your financial transactions. These include interest income, dividends, share trading, credit card spending, and foreign remittances. Review these carefully before submitting your return.

Salary Slips: Salary slips help validate the figures mentioned in Form 16 and allow you to check for allowances like HRA, LTA, or special deductions, which may not always reflect clearly in Form 16.

Investment Proofs:

To claim deductions under sections like 80C, 80D, 80CCD, and others, keep the relevant documents handy. This includes:

• PPF passbooks or deposit receipts
• ELSS mutual fund statements
• NPS contribution details
• Premium receipts for life and health insurance
• Tuition fee receipts
• Home loan principal and interest certificates

Even though you’re not submitting these documents during e-filing, you must retain them in case the department asks for evidence later.

Bank Statements:

Details for bank accounts, especially for savings and fixed deposits, are required to calculate interest income. This income is taxable under ‘income from other sources’ and is often ignored.

Access to the Income Tax E-Filing Portal

You must have an active account on https://www.incometax.gov.in/. Ensure your mobile number is linked to the portal for OTP-based login and verification.

Basic Understanding of Your Income Source

Lastly, understand how your income is classified: salary, house property, business/profession, capital gains, or other sources. This helps in selecting the correct ITR form and ensures the correct tax treatment of each component.

Having these documents and clarity in place before you begin will save time, reduce the chances of error, and improve the likelihood of a smooth filing experience.

Choosing the Correct ITR Form for FY 2024–25

Selecting the right ITR form is a critical first step in the filing process. The Income Tax Department has notified different forms based on the nature and complexity of income. Filing your return using the wrong form can lead to a defective return notice, which means you’ll have to revise and re-file, delaying your compliance and refund, if any.

Here’s a quick overview of the applicable forms for individual taxpayers for the Financial Year 2024–25 (Assessment Year 2025–26):

ITR-1 (Sahaj)

Use this form if you are a resident individual with:

• Total income up to ₹50 lakh
• Income from salary or pension
• Income from one house property (excluding loss brought forward)
• Income from other sources (interest, dividends, etc.)
• Agricultural income up to ₹5,000

This form cannot be used if you have capital gains, foreign assets, or if you’re a Director in a company.

ITR-2

Applicable for individuals and HUFs who:

• Applies to persons who have no income from business or occupation and HUF.
• If you have capital gains (from shares, mutual funds, property, etc.).
• If you own more than one homework, it is necessary.
• Applies to persons with foreign income or property, including bank accounts or property abroad.
• It must be filed if you are a director of a company.
• Required for income above ₹50 lakh from salary, pension, interest, or other sources.
• Suitable if you hold unlisted equity shares during the financial year.
• For those claiming relief under Sections 90/91 for taxes paid in foreign countries.
• Required if you are carrying forward losses from capital gains or house property.
• Not applicable if you have income from business or profession (file ITR-3 instead).

ITR-2 is suited for those with non-business income but more complex profiles than those covered under ITR-1.

ITR-3

Choose this form if you are an individual or HUF with income from business or profession. This includes:

• Income from freelancing, consultancy, or professional services
• Proprietorship business
• Income as a partner in a firm
• Intraday or derivative trading income
• Income from speculative businesses

You will need to maintain detailed books of accounts and may also need to report balance sheet and profit & loss information.

ITR-4 (Sugam)

This form is applicable for individuals, HUFs, and firms (other than LLPs) who have opted for the presumptive taxation scheme under Section 44AD, 44ADA, or 44AE, and have:

• Total income up to ₹50 lakh
• Business income (e.g., shop owners, small traders) or
• Professional income (e.g., doctors, architects)
• Income from one house property and other sources

Do not use ITR-4 if you have foreign income, more than one house property, or income from capital gains.

Step-by-Step Guide to E-Filing Online

E-filing your Income Tax Return (ITR) has become a streamlined process, especially with the newer features on the official portal. If your documents are in order and you’ve identified the correct form, completing your income tax return filing online should take under an hour. Follow the steps below to ensure a smooth filing experience for FY 2024–25 (AY 2025–26):

Step 1: Log in to the Income Tax E-Filing Portal

Visit https://www.incometax.gov.in and log in using your PAN (as User ID), password, and the OTP sent to your registered mobile number.

Note: First-time users must complete a simple registration process. Ensure your Aadhaar is linked to PAN before proceeding.

Step 2: Navigate to “File Income Tax Return”

On the dashboard, go to:

e-File → Income Tax Returns → File Income Tax Return

Step 3: Choose Assessment Year 2025–26

Select the correct Assessment Year (AY 2025–26) for Financial Year 2024–25. Filing under the wrong assessment year may result in a return being treated as invalid.

Step 4: Select Filing Mode: Online or Offline Utility

You can either file online (recommended for ITR-1 and ITR-4), or use the offline Excel/JSON utility for other forms like ITR-2 and ITR-3. You’ll need to upload the JSON file once filled. Choose the option based on your comfort level and the complexity of your return.

Step 5: Select Status as “Individual”

When prompted, select your status:

• Individual, HUF, Other (Firm, Company, etc.) Most personal filers will choose “Individual.”

Step 6: Choose the Correct ITR Form

Based on your income sources and eligibility, select the appropriate form (as discussed earlier). This choice is critical for the validity of your return.

Step 7: Select Reason for Filing

Section 139(1) – On or before the due date, if you are filing within the deadline.
Other options include filing under revised return, belated return, or in response to a notice. Ensure the correct reason is selected.

Step 8: Review Pre-filled Data

The portal will auto-fetch data from PAN and Aadhaar, Form 26AS, AIS (Annual Information Statement), TIS (Taxpayer Information Summary), and the previous year’s ITR (if available). Review personal details, bank account information, and TDS entries. If something appears missing or incorrect, you can edit or add it manually.

Step 9: Fill in All Income Details

Declare all sources of income:

• Salary/Pension – Use figures from Form 16
• House Property – Report rental income and home loan interest (Section 24)
• Capital Gains – Include equity, mutual funds, property, etc., with supporting statements
• Business or Profession – Report as per your books or under presumptive income
• Other Sources – Include interest from savings accounts, fixed deposits, recurring deposits, and dividends

Ensure that no income is omitted. Even tax-exempt income (like agricultural income) may need to be disclosed.

Step 10: Declare Deductions

You can claim deductions under various sections:

• Section 80C – PPF, ELSS, LIC premium, tuition fees, home loan principal, etc.
• Section 80D – Health insurance premiums for self and family
• Section 80CCD(1B) – Additional deduction for NPS
• Section 80G – Donations to charitable institutions
• Section 80TTA/80TTB – Interest on savings account (depending on age)

Ensure you enter accurate figures based on the proofs retained.

Step 11: Fill in Details of Taxes Paid

This includes:

• TDS/TCS – As per Form 26AS and AIS
• Advance Tax/Self-Assessment Tax – Mention challan details (e.g., BSR code, date, amount)

Reconcile all entries with your tax credit statement to avoid mismatch notices.

Step 14: Proceed to Verification

After submission, the return must be verified. You can verify through:

• Aadhaar OTP (linked mobile required)
• Net banking
• Bank account EVC
• Demat account
• Or, send a signed ITR-V form by post to CPC, Bengaluru (within 30 days)

Most users prefer Aadhaar OTP or Net Banking for immediate verification.

Step 15: Receive Confirmation

Once verified, you’ll receive an email and SMS confirmation from the Income Tax Department. Download and save a copy of the ITR-V or Acknowledgement Slip for your records. This serves as proof of filing and will be needed in case of any future correspondence.

Important Considerations & Tips for FY 2024–25

Even if you’re comfortable with the filing process, it pays to keep a few critical points in mind. These could help you avoid delays, reduce the chance of notices from the department, and make the most of your eligible deductions.

Due Dates

For most individuals, the due date to file ITR for FY 2024–25 is 31st July 2025.
If you’re subject to audit or filing under a different provision (like international transactions or presumptive taxation for businesses), your due date could be different. Missing this deadline not only attracts late filing fees under Section 234F but also limits your ability to carry forward certain losses.

It’s wise to complete your filing at least a week in advance. The final days tend to bring traffic slowdowns on the e-filing portal.

AIS and TIS: Review Before Filing

The Annual Information Statement (AIS) and Taxpayer Information Summary (TIS) are powerful pre-filing tools. AIS captures almost all your financial activity for the year – interest income, stock transactions, credit card payments, dividend receipts, and more.

Always cross-check AIS and Form 26AS before proceeding. If there’s a mismatch between your declared income and what’s reported in AIS or TIS, the department may flag your return for scrutiny.

Common Mistakes to Avoid

• Choosing the wrong ITR form+
• Skipping exempt income reporting (like PF withdrawals, gifts, or interest on tax-free bonds)
• Forgetting to disclose foreign assets or bank accounts (if applicable)
• Missing out on eligible deductions due to a lack of documentation
• Entering incorrect bank account details for a refund
• Not verifying the return within the allowed timeline
• Even small errors can trigger notices or delays in refund processing.

Consequences of Late Filing

Filing after the due date comes with clear penalties:

• ₹1,000 to ₹5,000 penalty under Section 234F
• Loss of carry-forward of certain losses, especially capital and business losses
• Interest under Sections 234A, 234B, and 234C on tax dues
• Potential for future scrutiny or audit red flags

If you’re unsure whether you need to file or not, it’s better to clarify early with our CA.

Keep Records Safely

Always retain:

• Filed ITR copy and acknowledgement
• Tax payment challans
• TDS certificates (Form 16, 16A)
• Bank statements
• Investment proof, rent receipts, and donation receipts
• Medical insurance premiums and health-related documentation

Technically, records should be maintained for at least six assessment years from the end of the relevant financial year. But if you’ve had any ongoing proceedings or foreign income disclosures, retain them longer.

Conclusion

Income tax filing is more than a formality. It’s your declaration to the government about your financial conduct, and with digital systems like AIS, TIS, and pre-filled data, the margin for error is small. Whether you’re a salaried professional, a freelancer, an investor, or a business owner, it’s worth taking the time to get your filing right the first time.

That said, if you’re short on time, uncertain about deductions, or just want peace of mind knowing it’s all handled right, Vakilsearch’s ITR experts and Chartered Accountants are here to help. From sorting your documents and choosing the right ITR form to filing, verification, and dealing with refunds or notices, we take care of it all.