The Income Tax Department (ITD) has made a facility to fill ITRs online. Before filing the return, the taxpayer must have prepared the supporting documents and calculated their income correctly. The ITR can be prepared in three ways, with you owning software for this or using the services of a professional tax consultant, or using a portal provided by the government itself.
What is ITR?
Income Tax Return (ITR) is a form for people who are required to file an income tax return. The Income Tax Department has made it mandatory for all individuals who have a gross total income of more than Rs. 2,50,000 in the previous year to file their ITR. The Income Tax Department has made it mandatory for all individuals who have a gross total income of more than Rs. 2,50,000 in the previous year to file their ITR. The IT department requires the following information from you:
- Personal Details – Name, address, and date of birth of the assessee (individual), etc
- Income Details – Gross Total income earned during the financial year 2016-17 and other relevant details like salary/pension etc
- Details of Expenditure – Details of expenses incurred by you during the financial year 2016-17
- Other Information – Details about investments made by you during the financial year 2016-17
How to File ITR Online?
ITR filing is mandatory for all taxpayers who have not filed their Income Tax Returns (ITR) for the financial year 2016-17. It is important to note that even if you are not required to file the return, you need to fill ITR if you want to get the benefit of claiming a tax refund.
In this article, we will provide you with simple step-by-step instructions on how to fill ITR.
- Step 1: Log on to the official website of the Income Tax Department at www.incometaxindiaefiling.gov.in
- Step 2: Click on the “New User Registration” link.
- Step 3: Enter your Login ID and Password and click on the “Sign In” button. If you don’t have a login ID or password then click on the “Create New User Account” button and follow the instructions provided on the next page to create one.
- Step 4: Once you are registered as a user, click on the “File Income Tax Return” link from the left side menu of the website and then select the “ITR-1 for Individuals-SUGAM” option from the drop-down menu next to it
- Step 5: Fill in all the details in the form and submit it.
- Step 6: Verify your ITR-1 by entering your Login ID and Password.
How to File an ITR Offline?
The Income Tax department has launched a new service called ‘Seva Centers’. These Seva Centers are for the convenience of taxpayers who do not have access to the internet and computer. The Income Tax department has launched a new service called ‘Seva Centers’. These Seva Centers are for the convenience of taxpayers who do not have access to the internet and computer.
- Step 1: Visit a GST Suvidha Kendra near your location. It is advisable that you carry your Aadhaar card, PAN Card, and other documents required for filing your tax return.
- Step 2: You will be asked to fill up Form 26AS which is used to calculate your tax liability in case you are eligible for any refund due to the cashless transaction or section 80C deductions etc. You also need to fill up form ITR-V which is used by those who want their refund directly deposited into their bank accounts.
- Step 3: Once all details are entered, take a printout of the filled forms along with any other supporting documents such as the rent agreement, bill payment receipt, etc…
- Step 4: If you want your refund directly deposited into your bank account, then you need to fill up Form ITR-V and also attach a copy of your PAN Card, Aadhaar Card, and bank account details.
- Step 5: Once all documents are filled up, take them along with the necessary fee vouchers or challan numbers to any post office or designated banks.
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