- By Aditya Pratap Singh
- Wed, 17 Apr 2024 06:37 PM (IST)
- Source:JND
Income Tax Filling 2024: The Income tax return filling for the Financial year 2023-24 and assessment year 2024-25 has begun and the last date for the same is July 31, 2023. The IT department has already released online forms for taxpayers. If you have to file an ITR, then below are the step-by-step guidelines to file ITRs in minutes.
Documents required to file ITR online
The taxpayers need to have PAN and Aadhar card, Bank statement, Form 16, Donation receipts (if any), Investments, Insurance policy payment receipts, Home loan installment payment receipts, and interest certificate at the time of filling.
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Steps to file income tax return
- Visit the official Income Tax e-filing website and log in by entering your PAN number and password.
- Choose the 'File Income Tax Return' option.
- Next, you have to select the assessment year. If you are filing ITR for FY 2023-24 then you have to select assessment year 2024-25.
- In the next step you will have to specify the filing status, in which you will get Individual, HUF, and other options. If you are filing your own ITR then you have to click on 'Individual'.
- Next, select the type of ITR from the 7 types of ITR forms which are available. Of these, ITR 1 to 4 forms are for individuals and HUFs.
- In the next step you will have to give the reason for filing an ITR. Here you get options – taxable income over basic exemption, fulfillment of specific criteria and mandatory filing of ITR, and other options. You have to choose one of these.
- Validating all the entered information
Many details like PAN, Aadhaar, name, date of birth, contact information, and bank details are already saved. You must verify all this information.
- In addition, You will have to fill in the details of your income, exemptions, and deductions step by step. Many of these data are pre-filled, you will need to review it and fill in the correct information. After this, you have to confirm the summary of the return. While verifying the details, if any tax is due, it has to be paid.
E-verify ITR
In the final step. However, you get thirty to do e-verification, but you can send an Aadhaar OTP, Electronic Verification Code, Net Banking, or ITR-V to the Bengaluru office.