Whether you are from the salary class or do your own business, you have to file your income tax return by the due date.
The last date for filing income tax return (ITR) is 31st July. Since today is 10th July, obviously most of you must have received your Form-16 as well. Experts say that no taxpayer should wait to file the return on the last date, by doing this you have time to reduce errors.
To file ITR, you can either take the help of a chartered accountant or file the return online yourself. If you want to do it yourself, then this has also become very easy now. You have to file this return through the Income Tax Department website. Let us know the online step by step process of filing ITR online.
First of all, you should have these documents in your hand
Whenever you think of filing income tax return online, keep some important documents ready in your hand before that. You should have Form 16, Form 16A, Form 26AS, capital gains statement, proof of tax-saving investments etc. ready as the necessary documents for filing income tax return.
Step by Step ITR Filing Process
- Visit the Income Tax e-filing portal https://www.incometax.gov.in/iec/foportal/ .
- Log in using your PAN, password and captcha code.
- Go to the ‘e-File’ menu and select ‘Income Tax Returns’.
- Choose the appropriate ITR form based on your income (ITR-1 or ITR-2 if you have Form 16).
- Select Assessment Year 2024-25.
- Verify all the data entered in the form and submit it.
- After submission, e-verify your return using Aadhaar OTP or other available options.
- Upload and verify your return.
Who should file ITR
If the total income before deductions under various sections of Chapter VI-A (such as 80C, 80CCC, 80CCD, 80D, 80E, 80G, 80GGA, 80TTA/80TTB, etc.) exceeds the basic exemption limit, you must file your Income Tax Return (ITR). Also, as a resident of India, for income tax purposes, if you own or have an interest in any property outside India as a beneficial owner, you must file an Income Tax Return (ITR).
