Filing your Income Tax Return (ITR) stands as a vital fiscal responsibility for both individuals and entities, facilitating the reporting of income and the fulfillment of tax obligations to the government. If you’ve overpaid taxes through TDS (Tax Deducted at Source), filing ITR ensures you get a refund.
ITR serves as a verified document for your income and tax filing history. This is crucial for securing loans, applying for visas, or getting credit cards.
Banks and lenders highly value ITRs when assessing loan applications. Filing ITR demonstrates financial stability and increases your chances of loan approval.
File ITR Online Free
ITR Login: To file your Income Tax Return (ITR) online on the Income Tax Portal, follow these step-by-step instructions:
- Go to the Income Tax Department E-filing portal: https://www.incometax.gov.in/iec/foportal/
- Log in to your e-filing account using your PAN and password. If you don’t have an account, you can create one by clicking on the “Register” link (Steps listed below)
- Select the assessment year for which you want to file your return.
- Select the ITR form that you need to fill. The ITR form that you need to fill will depend on your income and sources of income.
- Fill in the details in the ITR form. You can either fill the form manually or use the pre-filled data that is available on the website.
- Calculate the tax that you owe. The website will help you calculate the tax that you owe.
- Once you have filled in the details, you need to verify the return.
- You can verify the return using your Aadhaar number, e-sign, or by sending a physical copy of the return to the CPC.
- Once you have verified the return, you can submit it.
Register on ITR portal
To register for e-filing as a taxpayer on the Income Tax Portal, follow these step-by-step instructions:
Read More: From ITR 1 to ITR 7, here is a summary of seven income tax return forms
Prerequisite for Individual Users
Before taxpayers start registration, ensure the following details should be hand-in-hand.
- Valid PAN
- Valid Mobile Number
- Valid Current Address
- Valid Email Address, preferably your own
Registration Process
Perform the following steps to register as an ‘Individual User’:
- Step 1: Visit the ‘e-Filing’ Portal https://www.incometax.gov.in/iec/foportal/
- Step 2: Click ‘Register Yourself’ button located at right side of the Home Page.
- Step 3: Select the user type as ‘Individual’.
- Step 4: Click Continue
Provide the following basic details:
PAN; Surname, First Name and Middle Name; Date of birth; Residential Status
- Step 5: Click ‘Continue’
- Step 6: Fill in the following mandatory details:
- Password Details
- Contact Details
- Current Address
- Click ‘Submit’
- Step 7: After registration,
-For Residents, a six digit OTP1 and OTP2 will be shared on your mobile number and email ID, specified at the time of registration.
Read More: ITR-4 Form (Sugam): What is ITR-4, who should file and how to File ITR-4 for AY2024-25
-For Non-residents, OTP will be shared on your primary email ID, specified at the time of registration.
- Step 8: Enter the correct OTP to complete the registration process
Upon successful login, you will be directed to your e-filing dashboard and file the ITR by following the steps listed above.
Here are some tips for filing ITR online:
- Make sure that you have all the required documents before you start filling the form.
- Read the instructions carefully before you start filling the form.
- If you are not sure how to fill a particular field, you can always leave it blank and come back to it later.
- You can save the form as a draft and come back to it later if you need to.
- Once you have submitted the return, you will receive an acknowledgement number. Keep this number safe as you will need it to track the status of your return.
It’s essential to recognise that the procedures and prerequisites might differ depending on individual situations. Therefore, it’s advisable to consult the Income Tax Department’s website or seek guidance from a tax professional for the latest and most precise information regarding your ITR filing.
ITR filing last date: July 31, 2024
