ITR 2025: Seven Essential Checks for Salaried Individuals before you Hit “Submit”
From selecting the appropriate tax regime to matching the figures in Form 16 with those in your Form 26AS, all salaried individuals must follow these to avoid future complications.
The income-tax-return (ITR) filing window is open once again, and salaried earners are gathering the paperwork they need. Below is a concise guide to the seven most important aspects to verify before filing your Income Tax Returns for FY 2024-2025 or 2025-2026. These cover everything from selecting the appropriate tax regime to matching the figures in Form 16 with those in your...
The income-tax-return (ITR) filing window is open once again, and salaried earners are gathering the paperwork they need. Below is a concise guide to the seven most important aspects to verify before filing your Income Tax Returns for FY 2024-2025 or 2025-2026.
These cover everything from selecting the appropriate tax regime to matching the figures in Form 16 with those in your Form 26AS.
1. Pick the right tax regime
Your choice should hinge on both your income level and the deductions you typically claim. Remember: unless you explicitly tell your employer that you prefer the old regime, the new default regime will apply automatically.
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2. Secure Form 16 from your employer
Form 16 summarises the tax deducted at source (TDS) on your salary. Obtain it early to avoid last-minute surprises.
3. Reconcile details with Form 26AS
Cross-check every TDS entry in Form 16 against the consolidated tax statement in Form 26AS, which lists TDS/TCS from salary, interest, and other income streams.
4. Investment vs. tax saving
Even if certain instruments no longer bring a deduction under the new regime, products like PPF, SSY, KVP or NSC may still fit your long-term wealth-building plan. Don’t let tax treatment be the sole driver of investment decisions.
5. House Rent Allowance (HRA) angle
A sizeable HRA exemption can make the old regime more attractive, whereas those without meaningful HRA claims might fare better under the new regime.
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6. Equity transactions
If you trade or invest in shares, capital-gains reporting requires the ITR-2 form—not ITR-1—even if you draw only a salary otherwise.
7. Income from house property
Earning rent from a single property can be shown in ITR-1, but income from two or more properties pushes you to ITR-2.
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