Income Tax Return Filing Guide for India 2026 — Track Expenses, Save Tax
How to prepare for ITR filing in India — what to track throughout the year, which deductions to claim, and how to export from DhanRakh.
Why Most Informal Workers Don't File ITR — and Why They Should
Only 80 million Indians file income tax returns, despite crores more earning above the ₹2.5 lakh threshold. The reasons are understandable: complicated forms, English-only portals, and no one to guide them.
But not filing has real costs. You miss out on tax refunds, you can't get loans, and you have no income proof for the future.
Who Needs to File ITR in India (2026)?
- Anyone with annual income above ₹2,50,000
- Anyone who wants to claim TDS refund
- Anyone applying for a home loan, business loan or visa
- All businesses — including kirana stores and freelancers
What to Track All Year (The DhanRakh System)
The secret to stress-free ITR filing is tracking throughout the year, not scrambling in July:
Income to track:
- All cash and UPI receipts (DhanRakh voice entry)
- UPI from customers (auto-imported)
- Rent received, interest earned
Deductible expenses to track:
- Section 80C (up to ₹1.5L): LIC premiums, PPF, ELSS — track payment dates
- Section 80D: Health insurance premiums
- Business expenses: Raw materials, tools, transport, phone, rent
- Home loan interest (Section 24): Annual certificate from bank
The DhanRakh Export for Your CA
DhanRakh's Pro plan generates a CA-ready export with:
- Annual income summary (month-by-month)
- Expense categories with totals
- 80C progress tracker
- Net profit/loss statement
- PDF and CSV formats for your chartered accountant
ITR Forms — Which One Do You Need?
- ITR-1 (Sahaj): Salaried + one house property + income up to ₹50L
- ITR-3: Business income, profession — most informal workers
- ITR-4 (Sugam): Presumptive taxation for small businesses (turnover <₹2Cr)
Most auto drivers, shopkeepers and self-employed workers will file ITR-4 under the presumptive scheme — much simpler, and you pay tax on a fixed % of turnover rather than proving every expense.
Key Tax Deadlines 2026
- July 31, 2026: ITR filing deadline for individuals (without audit)
- September 30, 2026: For businesses requiring audit
- March 31, 2026: Advance tax payment if liability >₹10,000
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