BackIncome tax return filing: A step-by-step guide to file ITR online
Experts advise filing income tax returns soon to avoid last-minute mistakes. Gather important documents like Form 16, Form 16A, and tax-saving investment proof. File online using the income tax department's website or intermediaries. Validate and submit the form, and e-verify using available options
PremiumThe deadline for filing your income tax returns (ITRs) is 31 July. By now, most of you must have received the Form-16. Experts are advising individual taxpayers to avoid the last-minute rush and start filing their ITRs soon. which can lead to mistakes.
How to file ITR?
You have the option of getting your ITR filed through intermediaries such as e-filing portals and apps, or chartered accountants. If you are filing it on your own, most of you would need to file it online on the income tax department’s website.
Income tax return filing: Important documents needed
Even though the e-filing portal has pre-filled ITR forms, some incomes, such as capital gains, need to be manually filled. These are some of the important documents you must keep handy while filing ITR.
-Form 16
-Form 16A
-Form 26AS
-Capital gains statements
-Tax saving investment proof
Step-by-step guide to filing ITR
-Go to the Income Tax e-Filing portal.
-Log in by entering your user ID (PAN), Password, and Captcha code.
-Click on the 'e-File' menu and click the 'Income Tax Return' link.
-Choose the appropriate Income Tax Return (ITR) form based on your income and other factors. If you have Form 16, you can use either ITR-1 or ITR-2.
-After that, choose the assessment year (AY) for which you want to file the ITR. You should choose the assessment year 2023-24.
-Validate all the data entered in the form, and submit.
-After submitting your return, e-verify it using any of the available options such as Aadhaar OTP, etc.
-Upload, e-verify return
The last step is to re-check all your details and upload the form. However, your job is not complete until you verify your return.
ITR filing deadline
The ITR filing due date for FY 2022-23 (AY 2023-24) is 31st July 2023.
Milestone Alert!Livemint tops charts as the fastest growing news website in the world 🌏 Click here to know more.
