{"id":1748,"date":"2025-05-16T10:36:31","date_gmt":"2025-05-16T10:36:31","guid":{"rendered":"https:\/\/zensta.in\/canexus\/?p=1748"},"modified":"2025-06-28T10:53:40","modified_gmt":"2025-06-28T10:53:40","slug":"faqs-for-new-taxpayers","status":"publish","type":"post","link":"https:\/\/zensta.in\/canexus\/faqs-for-new-taxpayers\/","title":{"rendered":"Top FAQs for New Taxpayers in [2025]: A Complete Beginner\u2019s Guide"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"1748\" class=\"elementor elementor-1748\">\n\t\t\t\t<div class=\"elementor-element elementor-element-1b64762 e-flex e-con-boxed e-con e-parent\" data-id=\"1b64762\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-3fc96a1 elementor-widget elementor-widget-text-editor\" data-id=\"3fc96a1\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<h1 data-start=\"644\" data-end=\"709\">Top FAQs for New Taxpayers in 2025: A Complete Beginner\u2019s Guide<\/h1><p data-start=\"711\" data-end=\"963\">Filing taxes for the first time can be overwhelming \u2014 especially when you&#8217;re not sure where to begin. Whether you&#8217;re a salaried employee, freelancer, or small business owner, it&#8217;s essential to understand the basics to avoid mistakes and stay compliant.<\/p><p data-start=\"965\" data-end=\"1096\">In this article, we answer the most frequently asked questions (FAQs) for new taxpayers to help you file confidently and correctly.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-221bf06 e-flex e-con-boxed e-con e-parent\" data-id=\"221bf06\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-6db3770 elementor-widget elementor-widget-image\" data-id=\"6db3770\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img fetchpriority=\"high\" decoding=\"async\" width=\"300\" height=\"168\" src=\"https:\/\/zensta.in\/canexus\/wp-content\/uploads\/sites\/40\/2025\/05\/download.jpg\" class=\"attachment-large size-large wp-image-1750\" alt=\"FAQs for New Taxpayers\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-4c48cb7 e-flex e-con-boxed e-con e-parent\" data-id=\"4c48cb7\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-a48f94d elementor-widget elementor-widget-text-editor\" data-id=\"a48f94d\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<h2 data-start=\"1103\" data-end=\"1151\">1. <strong data-start=\"1109\" data-end=\"1151\">Who is considered a taxpayer in India?<\/strong><\/h2><p data-start=\"1153\" data-end=\"1292\">Anyone who earns an income that exceeds the basic exemption limit defined under the Income Tax Act is considered a taxpayer.<\/p><p data-start=\"235\" data-end=\"261\"><strong data-start=\"235\" data-end=\"261\">FAQs for New Taxpayers<\/strong><\/p><p data-start=\"1153\" data-end=\"1292\">This includes:<\/p><ul data-start=\"1294\" data-end=\"1417\"><li data-start=\"1294\" data-end=\"1316\"><p data-start=\"1296\" data-end=\"1316\">Salaried employees<\/p><\/li><li data-start=\"1317\" data-end=\"1348\"><p data-start=\"1319\" data-end=\"1348\">Freelancers and consultants<\/p><\/li><li data-start=\"1349\" data-end=\"1368\"><p data-start=\"1351\" data-end=\"1368\">Business owners<\/p><\/li><li data-start=\"1369\" data-end=\"1417\"><p data-start=\"1371\" data-end=\"1417\">Individuals with rental or investment income<\/p><\/li><\/ul><p data-start=\"1419\" data-end=\"1509\">The exemption limit for FY 2024-25 (AY 2025-26) under the <strong data-start=\"1477\" data-end=\"1495\">new tax regime<\/strong> is \u20b93,00,000.<\/p><hr data-start=\"1511\" data-end=\"1514\" \/><h2 data-start=\"1516\" data-end=\"1618\">2. <strong data-start=\"1522\" data-end=\"1618\">Do I need to file an Income Tax Return (ITR) even if my income is below the exemption limit?<\/strong><\/h2><p data-start=\"1620\" data-end=\"1745\">You\u2019re not <em data-start=\"1631\" data-end=\"1641\">mandated<\/em> to file if your income is below the exemption limit, but filing can still be beneficial, especially if:<\/p><p data-start=\"235\" data-end=\"261\"><strong data-start=\"235\" data-end=\"261\">FAQs for New Taxpayers<\/strong><\/p><ul data-start=\"1747\" data-end=\"1896\"><li data-start=\"1747\" data-end=\"1777\"><p data-start=\"1749\" data-end=\"1777\">You want to claim a refund<\/p><\/li><li data-start=\"1778\" data-end=\"1816\"><p data-start=\"1780\" data-end=\"1816\">You&#8217;re applying for a loan or visa<\/p><\/li><li data-start=\"1817\" data-end=\"1854\"><p data-start=\"1819\" data-end=\"1854\">You have foreign assets or income<\/p><\/li><li data-start=\"1855\" data-end=\"1896\"><p data-start=\"1857\" data-end=\"1896\">You want to build a financial history<\/p><\/li><\/ul><hr data-start=\"1898\" data-end=\"1901\" \/><h2 data-start=\"1903\" data-end=\"1961\">3. <strong data-start=\"1909\" data-end=\"1961\">What are the types of ITR forms for individuals?<\/strong><\/h2><p data-start=\"1963\" data-end=\"2002\">Here\u2019s a quick guide for new taxpayers:<\/p><p data-start=\"235\" data-end=\"261\"><strong data-start=\"235\" data-end=\"261\">FAQs for New Taxpayers<\/strong><\/p><ul data-start=\"2004\" data-end=\"2342\"><li data-start=\"2004\" data-end=\"2106\"><p data-start=\"2006\" data-end=\"2106\"><strong data-start=\"2006\" data-end=\"2024\">ITR-1 (Sahaj):<\/strong> For salaried individuals with income up to \u20b950 lakh and only one house property<\/p><\/li><li data-start=\"2107\" data-end=\"2188\"><p data-start=\"2109\" data-end=\"2188\"><strong data-start=\"2109\" data-end=\"2119\">ITR-2:<\/strong> For individuals with capital gains or more than one house property<\/p><\/li><li data-start=\"2189\" data-end=\"2256\"><p data-start=\"2191\" data-end=\"2256\"><strong data-start=\"2191\" data-end=\"2201\">ITR-3:<\/strong> For those earning income from business or profession<\/p><\/li><li data-start=\"2257\" data-end=\"2342\"><p data-start=\"2259\" data-end=\"2342\"><strong data-start=\"2259\" data-end=\"2277\">ITR-4 (Sugam):<\/strong> For presumptive income scheme under Section 44AD, 44ADA, or 44AE<\/p><\/li><\/ul><hr data-start=\"2344\" data-end=\"2347\" \/><h2 data-start=\"2349\" data-end=\"2415\">4. <strong data-start=\"2355\" data-end=\"2415\">What documents are required to file my first tax return?<\/strong><\/h2><p data-start=\"2417\" data-end=\"2454\">Here\u2019s a checklist for new taxpayers:<\/p><p data-start=\"235\" data-end=\"261\"><strong data-start=\"235\" data-end=\"261\">FAQs for New Taxpayers<\/strong><\/p><ul data-start=\"2456\" data-end=\"2783\"><li data-start=\"2456\" data-end=\"2468\"><p data-start=\"2458\" data-end=\"2468\">PAN card<\/p><\/li><li data-start=\"2469\" data-end=\"2485\"><p data-start=\"2471\" data-end=\"2485\">Aadhaar card<\/p><\/li><li data-start=\"2486\" data-end=\"2510\"><p data-start=\"2488\" data-end=\"2510\">Bank account details<\/p><\/li><li data-start=\"2511\" data-end=\"2549\"><p data-start=\"2513\" data-end=\"2549\">Form 16 (for salaried individuals)<\/p><\/li><li data-start=\"2550\" data-end=\"2586\"><p data-start=\"2552\" data-end=\"2586\">Form 26AS (tax credit statement)<\/p><\/li><li data-start=\"2587\" data-end=\"2645\"><p data-start=\"2589\" data-end=\"2645\">Interest certificates (from savings or fixed deposits)<\/p><\/li><li data-start=\"2646\" data-end=\"2705\"><p data-start=\"2648\" data-end=\"2705\">Investment proofs for deductions (LIC, PPF, ELSS, etc.)<\/p><\/li><li data-start=\"2706\" data-end=\"2740\"><p data-start=\"2708\" data-end=\"2740\">Rent receipts, if claiming HRA<\/p><\/li><li data-start=\"2741\" data-end=\"2783\"><p data-start=\"2743\" data-end=\"2783\">Loan statements (home\/education loans)<\/p><\/li><\/ul><hr data-start=\"2785\" data-end=\"2788\" \/><h2 data-start=\"2790\" data-end=\"2837\">5. <strong data-start=\"2796\" data-end=\"2837\">When is the last date to file my ITR?<\/strong><\/h2><p data-start=\"2839\" data-end=\"2981\">For individuals (non-audit cases), the due date is usually <strong data-start=\"2898\" data-end=\"2911\">July 31st<\/strong> of the assessment year. For FY 2024\u201325, it will be <strong data-start=\"2963\" data-end=\"2980\">July 31, 2025<\/strong>.<\/p><p data-start=\"235\" data-end=\"261\"><strong data-start=\"235\" data-end=\"261\">FAQs for New Taxpayers<\/strong><\/p><p data-start=\"2983\" data-end=\"3074\">Late filing attracts penalties up to \u20b95,000 and interest on due tax under <strong data-start=\"3057\" data-end=\"3073\">Section 234F<\/strong>.<\/p><hr data-start=\"3076\" data-end=\"3079\" \/><h2 data-start=\"3081\" data-end=\"3125\">6. <strong data-start=\"3087\" data-end=\"3125\">Can I file taxes online by myself?<\/strong><\/h2><p data-start=\"3127\" data-end=\"3264\">Yes! The Income Tax Department has made e-filing simple through its official portal: <a class=\"\" href=\"https:\/\/incometax.gov.in\" target=\"_new\" rel=\"noopener\" data-start=\"3212\" data-end=\"3264\">https:\/\/incometax.gov.in<\/a><\/p><p data-start=\"3266\" data-end=\"3406\">If your return is simple, you can do it yourself. But if you have multiple income sources or investments, it\u2019s wise to consult a tax expert.<\/p><p data-start=\"235\" data-end=\"261\"><strong data-start=\"235\" data-end=\"261\">FAQs for New Taxpayers<\/strong><\/p><hr data-start=\"3408\" data-end=\"3411\" \/><h2 data-start=\"3413\" data-end=\"3478\">7. <strong data-start=\"3419\" data-end=\"3478\">What deductions can I claim to reduce my tax liability?<\/strong><\/h2><p data-start=\"3480\" data-end=\"3535\">Some popular deductions under <strong data-start=\"3510\" data-end=\"3526\">Chapter VI-A<\/strong> include:<\/p><ul data-start=\"3537\" data-end=\"3777\"><li data-start=\"3537\" data-end=\"3598\"><p data-start=\"3539\" data-end=\"3598\"><strong data-start=\"3539\" data-end=\"3555\">Section 80C:<\/strong> Up to \u20b91.5 lakh for LIC, PPF, ELSS, etc.<\/p><\/li><li data-start=\"3599\" data-end=\"3644\"><p data-start=\"3601\" data-end=\"3644\"><strong data-start=\"3601\" data-end=\"3617\">Section 80D:<\/strong> Health insurance premium<\/p><\/li><li data-start=\"3645\" data-end=\"3692\"><p data-start=\"3647\" data-end=\"3692\"><strong data-start=\"3647\" data-end=\"3663\">Section 80E:<\/strong> Interest on education loan<\/p><\/li><li data-start=\"3693\" data-end=\"3734\"><p data-start=\"3695\" data-end=\"3734\"><strong data-start=\"3695\" data-end=\"3711\">Section 80G:<\/strong> Donations to charity<\/p><\/li><li data-start=\"3735\" data-end=\"3777\"><p data-start=\"3737\" data-end=\"3777\"><strong data-start=\"3737\" data-end=\"3755\">Section 24(b):<\/strong> Interest on home loan<\/p><\/li><\/ul><p data-start=\"3779\" data-end=\"3871\">Note: Deductions are available only under the <strong data-start=\"3825\" data-end=\"3843\">old tax regime<\/strong>. Choose your regime wisely.<\/p><p data-start=\"235\" data-end=\"261\"><strong data-start=\"235\" data-end=\"261\">FAQs for New Taxpayers<\/strong><\/p><hr data-start=\"3873\" data-end=\"3876\" \/><h2 data-start=\"3878\" data-end=\"3939\">8. <strong data-start=\"3884\" data-end=\"3939\">How do I choose between the old and new tax regime?<\/strong><\/h2><p data-start=\"3941\" data-end=\"4064\"><strong data-start=\"3941\" data-end=\"3955\">Old Regime<\/strong>: Higher tax rates but allows exemptions and deductions.<br data-start=\"4011\" data-end=\"4014\" \/><strong data-start=\"4014\" data-end=\"4028\">New Regime<\/strong>: Lower tax rates but no deductions.<\/p><p data-start=\"4066\" data-end=\"4126\">Compare your tax liability under both regimes before filing.<\/p><p data-start=\"235\" data-end=\"261\"><strong data-start=\"235\" data-end=\"261\">FAQs for New Taxpayers<\/strong><\/p><hr data-start=\"4128\" data-end=\"4131\" \/><h2 data-start=\"4133\" data-end=\"4179\">9. <strong data-start=\"4139\" data-end=\"4179\">What happens if I don\u2019t file my ITR?<\/strong><\/h2><p data-start=\"4181\" data-end=\"4215\">Not filing your ITR can result in:<\/p><ul data-start=\"4217\" data-end=\"4366\"><li data-start=\"4217\" data-end=\"4249\"><p data-start=\"4219\" data-end=\"4249\">Penalties under Section 234F<\/p><\/li><li data-start=\"4250\" data-end=\"4292\"><p data-start=\"4252\" data-end=\"4292\">Difficulty in obtaining loans or visas<\/p><\/li><li data-start=\"4293\" data-end=\"4335\"><p data-start=\"4295\" data-end=\"4335\">Notices from the Income Tax Department<\/p><\/li><li data-start=\"4336\" data-end=\"4366\"><p data-start=\"4338\" data-end=\"4366\">Loss of refund eligibility<\/p><\/li><\/ul><p data-start=\"4368\" data-end=\"4413\">It\u2019s best to stay compliant and file on time.<\/p><p data-start=\"235\" data-end=\"261\"><strong data-start=\"235\" data-end=\"261\">FAQs for New Taxpayers<\/strong><\/p><hr data-start=\"4415\" data-end=\"4418\" \/><h2 data-start=\"4420\" data-end=\"4474\">10. <strong data-start=\"4427\" data-end=\"4474\">Can I revise my return if I make a mistake?<\/strong><\/h2><p data-start=\"4476\" data-end=\"4661\">Yes. If you filed your ITR before the due date, you can file a <strong data-start=\"4539\" data-end=\"4557\">revised return<\/strong> to<\/p><p data-start=\"235\" data-end=\"261\"><strong data-start=\"235\" data-end=\"261\">FAQs for New Taxpayers<\/strong><\/p><p data-start=\"4476\" data-end=\"4661\">correct any mistakes. The deadline for revision is typically <strong data-start=\"4622\" data-end=\"4637\">December 31<\/strong> of the assessment year.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Top FAQs for New Taxpayers in 2025: A Complete Beginner\u2019s Guide Filing taxes for the first time can be overwhelming [&hellip;]<\/p>\n","protected":false},"author":44,"featured_media":1754,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_eb_attr":"","site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[4],"tags":[14],"class_list":["post-1748","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog","tag-top-faqs-for-new-taxpayers"],"_links":{"self":[{"href":"https:\/\/zensta.in\/canexus\/wp-json\/wp\/v2\/posts\/1748","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/zensta.in\/canexus\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/zensta.in\/canexus\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/zensta.in\/canexus\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/zensta.in\/canexus\/wp-json\/wp\/v2\/comments?post=1748"}],"version-history":[{"count":4,"href":"https:\/\/zensta.in\/canexus\/wp-json\/wp\/v2\/posts\/1748\/revisions"}],"predecessor-version":[{"id":1753,"href":"https:\/\/zensta.in\/canexus\/wp-json\/wp\/v2\/posts\/1748\/revisions\/1753"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/zensta.in\/canexus\/wp-json\/wp\/v2\/media\/1754"}],"wp:attachment":[{"href":"https:\/\/zensta.in\/canexus\/wp-json\/wp\/v2\/media?parent=1748"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/zensta.in\/canexus\/wp-json\/wp\/v2\/categories?post=1748"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/zensta.in\/canexus\/wp-json\/wp\/v2\/tags?post=1748"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}