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The last date for filing income tax returns (ITR) for financial year 2023-24 and assessment year 2024-25 is July 31, 2023. The IT department has released online forms for this. If you are also planning to file ITR, then here we are giving you step-by-step information. By following these you will easily file your ITR within five minutes.
Documents required to file ITR online
PAN and Aadhar Card
Bank statement
Form 16
Donation receipts (if any)
Investments, Insurance Policy Payment Receipts, Home Loan Installment Payment Receipts
interest certificate
How is income tax return filed?
To file ITR online, first you have to open the official website of Income Tax. Here we are giving you step-by-step information.
Step 1: Open the Income Tax e-filing website and log in by entering your PAN number and password.
Step 2: Now you have to click on 'Fine Income Tax Return'.
Step 3: In the next step 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.
Step 4: In the next step you have to specify the filing status, in which you will get Individual, HUF and other options. If you are filing your ITR then you have to click on 'Individual'.
Step 5: Now you have to select the type of ITR. There are 7 types of ITR forms in India. Of these, ITR 1 to 4 forms are for individuals and HUFs.
Step 6: In the next step you have to provide the reason for filing ITR. Here you get options – taxable income in excess of basic exemption, meeting specific criteria, filing ITR and other options. You have to choose one of these.
Step 7: Validating information already entered
Many details like PAN, Aadhaar, name, date of birth, contact information and bank details are already saved. You must verify this information.
Along with this, you will have to fill 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 will have to confirm the summary of the return. While verifying the details, if any tax is due, it has to be paid.
Step 8: E-Verify ITR
This is the final step. However, you get thirty days time for this. For e-verification you can send Aadhaar OTP, Electronic Verification Code, Net Banking or ITR-V to Bengaluru office.
Can we file income tax return ourselves?
Yes. You can file your income tax return yourself. You can file your ITR by following the steps mentioned above.