Filing ITR Online? Here’s the Only Step-by-Step Guide You’ll Ever Need
Filing ITR Online? Here's the Only Step-by-Step Guide You’ll Ever Need
Filing an Income Tax Return (ITR) has now become easier with the online portal provided by the government. People who earn a salary, run a small business, or have other sources of income must file their ITR every year. This helps the government know how much you earn and whether you have paid the correct amount of tax.
You can now file your ITR from home using a computer or phone. All you need are some important documents and a few basic steps to follow.
Important Documents You Need
Before you start filing your ITR, you need to keep some documents ready. You will need your PAN and Aadhaar numbers, bank statements, and Form 16 given by your employer. If you have donated money to any cause, keep the donation receipts too. If you trade in stocks, you will need trading statements from your broker.
Also, keep the receipts of life and health insurance premium payments. Your bank account must be linked to your PAN. Make sure the mobile number linked to Aadhaar is working, as you will need it for verification.
How to File ITR on the Income Tax Portal
To file your return, go to the official website incometaxindiaefiling.gov.in. Log in using your PAN and password. Then go to ‘e-File’ and click on ‘File Income Tax Return’. Choose the assessment year. If you are filing for the financial year 2024-25, select AY 2025-26.
Next, choose your filing status as ‘Individual’. Then select the correct ITR form. For most salaried people without a business, ITR-1 or ITR-2 is usually applicable.
You will also need to mention why you are filing the return. This could be because your income is above the basic exemption limit or for any other reason.
Check and Submit
Most of your personal details, like name, PAN, Aadhaar, bank account and income, will already be filled in on the form. Check everything carefully. If any detail is missing or wrong, correct it. Add other income and deduction details if you have them. After checking everything, you can submit the return. If you have to pay more tax, the portal will guide you to pay it online.
Don’t Forget to E-Verify
After filing, you must verify your return within 30 days. If you don’t verify it, your return will not be accepted. You can e-verify using Aadhaar OTP, net banking, or an electronic code.
