Income Tax Return (ITR) is a form that individuals or entities in India use to report their income, deductions, and tax liabilities to the Income Tax Department of India. Filing an ITR is a mandatory requirement for individuals whose income exceeds the specified threshold set by the government.
To register and file your Income Tax Return online in India, you can follow these step-by-step instructions:
Step 1: Gather the required documents
Collect all the necessary documents, such as your PAN (Permanent Account Number), Aadhaar card, bank statements, Form 16 (provided by your employer), investment proofs, and other supporting documents.
How to file ITR Online – Income Tax e filing
Step 2: Register on the Income Tax e-Filing Portal
Visit the Income Tax e-Filing portal (https://www.incometaxindiaefiling.gov.in) and click on the “Register Yourself” option. Choose the user type as “Individual” and fill in your PAN, name, date of birth, and other details. Create a strong password and provide your valid email address and mobile number for registration.
Step 3: Complete the registration process
After submitting the registration form, you will receive an OTP (One-Time Password) on your registered mobile number and email address. Enter the OTPs to verify your account and complete the registration process.
Step 4: Login to your account
Once registered, log in to your account using your PAN as the user ID, along with the password you created during registration.
Step 5: Select the appropriate ITR form
On the dashboard, click on the “e-File” tab and select “Income Tax Return.” Choose the assessment year and the relevant ITR form based on your income sources and filing category.
Step 6: Fill in the ITR form
Fill in the required details in the ITR form, such as personal information, income details, deductions, tax payments, and other applicable sections. Provide accurate information and cross-check before proceeding.
Step 7: Verify your return
After completing the ITR form, calculate the tax payable or refundable. Review the form, ensure accuracy, and save the XML file.
Step 8: Verify your return
You have two options to verify your return:
a) E-verify: You can choose to e-verify your return using Aadhaar OTP, net banking, bank account-based verification, or a demat account.
b) Physical verification: Alternatively, you can also choose to physically verify your return by sending a signed copy of the ITR-V (Acknowledgment) to the Centralized Processing Center (CPC) within 120 days of filing the return.
Step 9: Acknowledgment and submission
Upon successful verification, you will receive an acknowledgment. Keep a copy of the acknowledgment for your records.
It’s important to note that these steps provide a general guideline for online ITR filing in India. The process may vary based on individual circumstances or changes in the government’s guidelines. It’s advisable to consult a tax professional or refer to the official Income Tax Department website for the most up-to-date and accurate information.