NEW DELHI — The Income Tax Department has officially issued a critical seven-step compliance checklist aimed at guiding taxpayers through a smooth and error-free Income Tax Return (ITR) filing experience for Assessment Year (AY) 2026-27.

Through an educational advisory campaign broadcast across social platforms, the apex tax body highlighted that strategic, early preparation remains the single most effective way to circumvent high-traffic portal lag and administrative friction. “A smooth ITR filing experience begins with the right preparation,” the department noted, emphasizing that filing well ahead of the statutory deadline prevents the risk of last-minute data mismatches.

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The 7 Golden Rules of Income Tax Filing

The Complete ITR Filing Lifecycle:
📋 Select Regime & Form ➔ 🔍 Reconcile AIS/26AS ➔ 📁 Gather Financial Proofs ➔ 💻 Validate Prefilled Profiles ➔ ✍️ Claim Exact Deductions ➔ ⏰ File Early ➔ 🔐 E-Verify within 30 Days

1. Select the Optimal Tax Regime and ITR Form

Taxpayers must perform a comparative analysis to decide whether the Old Tax Regime or the default New Tax Regime provides the maximum tax efficiency based on their financial profiles. Additionally, using the correct ITR form (ranging from ITR-1 to ITR-7) is mandatory; selecting an incompatible form results in structural complications, processing rejection, or defective return notices.

2. Match Income Details via AIS and Form 26AS

Before submitting any data fields, taxpayers should log into the official portal to download their updated Annual Information Statement (AIS) and Form 26AS. These documents log all systemic footprints of Tax Deducted at Source (TDS), Tax Collected at Source (TCS), and advance taxes paid. If a discrepancy exists between your actual earnings and the portal’s logs, you must immediately contact the deductor (such as your employer or bank) to correct the database before final submission.

3. Keep Core Financial Documents Handily Compiled

Ensure all supporting investment proofs, liabilities, and income summaries are organized before initializing the digital filing session.

• Primary Documentation Checklist: Form 16 (Salary Certificate), consolidated bank statements, fixed deposit interest certificates, and formal investment receipts under eligible saving chapters.

4. Critically Audit All Pre-Filled Profile Metrics

Do not assume that automated, pre-filled data streams populated by the portal are fully accurate. Taxpayers must manually verify baseline structural information:

🌐 Communication Tip: The department highly recommends utilizing the active mobile number linked with your national identification profile to receive seamless legal and transactional communications without technical broadcast issues.

5. Enter Deduction Details Honestly and Correctly

The legal responsibility for the absolute truth of all financial disclosures sits solely on the taxpayer. The department strongly cautioned individuals against falling prey to fraudulent or unrealistic promises of inflated tax refunds offered by unethical agents. Every deduction claim or tax exemption must be backed by true, verifiable records.

6. Do Not Postpone Filing Until the Deadline

Waiting until the final days of the filing window routinely exposes users to peak portal traffic delays. Late submissions attract statutory late fee penalties, trigger the immediate loss of specific deduction benefits, and legally block the taxpayer from carrying forward eligible business or capital losses to future assessment years.

7. Mandatorily Complete the E-Verification Step

Filing your return on the portal is only half the battle; an unverified ITR is legally treated as completely invalid.

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In such a situation, now you have to tell your employer in advance that you would like to file tax in any regime. If you do not choose any tax regime yourself, then your ITR will automatically be filed in the new tax regime. Apart from this, the tax slab of the new tax regime has also been changed.

Now there are only six slabs in the new tax regime. Currently the highest tax rate in India is 30% and surcharge and education cess are also levied on it. These tax slabs decide who will pay how much tax on how much income. Let us see who will have to pay maximum tax in the old and new tax regime.

Old vs New Tax Regime: Income Tax Slab for AY2023-24

Who will have to pay maximum tax under the old tax regime?

In the old tax regime, the highest tax rate is for those earning above 10 lakhs. If your income is above 10 lakhs and you choose old tax regime, then you will have to pay tax at the rate of 30%. In the old tax regime, all such individual taxpayers in the age group of 60 years to 80 years come under 30%, whose income is above 10 lakhs.

Who will have to pay more tax in the new tax regime?

The highest rate in the new tax regime is also 30%. But this tax rate is for those above 15 lakhs. That is, if your annual income is above 15 lakhs, then 30% of your income will be taxed. In the old tax regime, where people above 10 lakhs pay more than 30% tax, in the new regime, 10% tax is levied on those above 10 lakhs to 12 lakhs, and 20% on the income from 12 lakhs to 15 lakhs. Taxes apply.

How much will be the surcharge?

Surcharge is a separate charge on income tax, a surcharge is levied on the income which is calculated according to the tax rate.

– 10% – ₹50 Lakh – ₹1 Crore
– 15% – ₹1 Crore – ₹2 Crore
– 25% – ₹2 Crore – ₹5 Crore
– 37% – Above ₹5 Crore

The post Income Tax Slab 2023: Big Update! Choose old tax regime or new tax regime, But..These people will have to pay the highest tax first appeared on Rightsofemployees.com.

On behalf of the Income Tax Department, it was said that the employer will have to ask the employees about their preferred tax regime in the current financial year. Accordingly, tax deduction (TDS) will have to be done on the income.

Individual taxpayer has the option to select

It was said by the Income Tax Department that if the employee is unable to tell the employer the tax regime of his choice. In such a situation, the employer will have to deduct TDS from the salary as per the new tax regime announced in the General Budget 2023-24. Individual taxpayers have the option to select whether they want to remain in the old tax regime offering exemptions and deductions or follow the new tax regime.

Let us tell you that there is no exemption in the new tax regime, in the general budget presented on February 1, 2023, Finance Minister Nirmala Sitharaman had talked about reducing the tax slabs in the new tax regime and making it the default tax regime. Tax is less in the new tax regime but there is no exemption. In the old tax regime, you get tax exemption under all the sections.

The Central Board of Direct Taxes (CBDT) issued clarification regarding tax deduction on salary by employers in the current financial year. According to the clarification, the employer will have to take information from each of its employees about their preferred tax regime. Also TDS will have to be deducted as per the tax regime adopted.

The post Income Tax Department ordered! Good news for taxpayers! Government has issued a new order for job professionals and companies first appeared on Rightsofemployees.com.