Filing tax returns with wrong ITR form can invalidate and delay process

The Central Board of Direct Taxes (CBDT) has notified the key Income Tax Return (ITR) forms for the financial year 2024-25 (assessment year 2025-2026), allowing taxpayers to file their returns. Salaried individuals should consider both their income level and sources beyond salary when selecting the appropriate ITR form. 

“The correct ITR form depends on the type and quantum of income, losses incurred, type of investments made, foreign assets, and so on,” says Naveen Wadhwa, vice-president, Taxmann. 

Who should go for ITR-1 

Resident individuals may use ITR-1 if their total income is within ₹50 lakh and comes from salary or pension.