As the July 31, 2024, deadline for filing Income Tax Returns (ITR) approaches, taxpayers across India are gearing up to submit their returns on time.
You can file returns through private tax return-filing portals, or visit the official e-filing portal — www.incometax.gov.in — to complete the exercise.
File returns through the official portal
You can follow the simple step-by-step instructions provided below to file your form ITR-1 (Sahaj) online:
Step 1: access the income tax e-filing portal
Begin by visiting the official income tax e-filing portal (incometax.gov.in). Log in using your PAN, Aadhaar, or other user ID, along with your password.
Step 2: navigate to the e-filing section
Once you're logged in, go to the e-file menu. From the dropdown, select 'Income Tax Returns' and then 'File Income Tax Return.'
Step 3: Choose the assessment year
Select the assessment year for which you are filing the return, for instance, 2024–25. Ensure you choose the online mode and then click on 'Continue.'
Step 4: File afresh or resume
If you have a saved return that is pending submission, click on 'Resume Filing'. Otherwise, select 'Start New Filing' to begin the process from scratch.
Step 5: Select your status
Choose your status from the options provided, such as Individual, Hindu Undivided Family (HUF), or 'Others', and click 'Continue.'
Also read: ITR filing 2024: How to choose the right income tax return form
Step 6: Choose the ITR form
Select the ITR 1 (Sahaj) form, which is designed for individuals with income from salaries, one house property, other sources (interest, etc.), and agricultural income up to Rs 5,000. Review the list of required documents and click 'Let's Get Started.'
Step 7: Choose the reason for filing your return
Specify the reason for filing your ITR by selecting the appropriate checkbox. Click 'Continue' to proceed.
Step 8: Review and edit pre-filled data
The portal will display pre-filled data based on the information available with the income tax Department. Review this data carefully, make necessary edits, and enter any additional required information. Confirm each section once you are done.
Step 9: Enter income and deductions
Input or verify your income details and total deductions. This includes income from salary, house property, and other sources. After completing this section, click on 'Proceed'.
Step 10: Tax computation and payment
The portal will compute your tax liability based on the information provided. If there is a tax liability, use the 'Pay Now' option to pay immediately and avoid penalties. If there is no liability or if you are eligible for a refund, click on "Preview Return."
Step 11: Make payment (if applicable)
If you have taxes due and need to make a payment, you will be redirected to the e-pay service. Complete the payment process and return to the filing page.
Step 12: Preview and Submit
After payment, click on 'Preview Return' to review your details one last time. Ensure all the information is accurate.
Step 13: Declaration and validation
Select the declaration checkbox on the 'Preview and Submit Your Return' page. Click 'Proceed to Preview' to continue. Review your return details carefully and then click 'Proceed to Validation'.
Step 14: Verification
Once validated, you will need to verify your return. On the 'Complete your Verification' page, select your preferred e-verification method, such as Aadhaar OTP, Net Banking, or EVC. Click 'Continue' to proceed.
Step 15: Complete the verification process
Complete the verification process using your chosen method. If you opt to verify via ITR-V, print the form, sign it, and send it to the Centralised Processing Centre (CPC) in Bengaluru within 30 days.
Do not miss the July 31 due date
Remember, the deadline for filing your ITR for the assessment year 2024–25 is July 31, 2024. Don't wait until the last minute — file your returns today!
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