You must calculate your income tax liability in accordance with the rules of the income tax regulations and use form 26AS to summarise your TDS payments.
New Delhi: Have you filed your income tax return yet? If you answered yes, you should be aware that you can file your income tax return online from the comfort of your own home. E-filing refers to the procedure of filing an income tax return electronically. The ITR e-filing method is quick and simple. It can even help you save money because you won’t have to employ a professional to file your ITR. You must calculate your income tax liability in accordance with the rules of the income tax regulations and use form 26AS to summarise your TDS payments for all four quarters of the assessment year.
Read more: Did Not Receive Your ITR Refund? Know Why Here
Here’s how to file ITR online:
- Log in to the Income Tax Department’s official website, eportal.incometax.gov.in, and register by entering your PAN card information.
- After completing the registration process, proceed to the next page and click on the e-file tab to file your Income Tax Return.
- Choose the assessment year for which you wish to file the tax and the form of ITR filing.
- Once you’ve decided on an assessment year, you can file your returns as an individual, a Hindu Undivided Family, or Other.
- After that, select the ITR forms, keeping in mind that ITR forms 1 and 4 are for salaried individuals, whilst ITR form 2 is for individuals or HUF who do not have income from a business or profession. ITR 1 covers pay, housing, property, and other kinds of income, whereas ITR 4 includes all of this as well as presumed business revenue. Read more: CBDT chief gives key reasons behind robust direct tax collections
- Those who wish to file income tax returns must assess their tax liability in accordance with the terms of IT laws. Form 26AS can be used to summarise TDS payments for all quarters of the fiscal year.
- Fill up your bank account information and validate it.
- You will be directed to a website where all of the necessary information will be entered. Check that all of the information is correct.
- Continue to the final step, which is to e-verify the returns and submit the submission.
