With the income tax return (ITR) filing season upon us, salaried taxpayers are preparing to meet their tax obligations. Here's a step-by-step guide on how salaried individuals can file their ITRs online:
Step 1: Gather Documents
Ensure you have:
- Form 16 from your employer
- PAN Card
- Bank Account Details
- Investment Proofs for deductions.
Step 2: Register/Login
- Visit the Income Tax e-Filing portal and register (for new users) or log in (existing users) using PAN.
Step 3: Download Form 26AS
- This consolidated tax statement details TDS, TCS, and other taxes paid.
Step 4: Choose ITR Form
- Select ITR-1 for salaried individuals with income up to ₹50 lakh from salary, one house property, and other sources.
Step 5: Fill the Form
- Fill in personal details, income, deductions, and tax details as per Form 16 and other documents. Review and edit as necessary.
Step 6: Validate and Calculate Tax
- Validate the form; the portal will calculate tax liability/refund based on your inputs.
Step 7: Submit and e-verify
- After validation, submit the ITR. E-verify using Aadhaar OTP, net banking, DSC, or EVC. Alternatively, send signed ITR-V to the CPC of the Income Tax Department.