Online ITR filing is easy if done methodically. Just keep all your documents and rough work ready. This article provides contents of income tax guide for e filing income tax returns. Individuals and entities can follow the stepwise instructions of the guide and complete the task of filing IT returns within a matter of minutes.
High ReturnsGet Returns as high as 17%*
Zero Capital Gains taxunlike 10% in Mutual Funds
Save upto Rs 46,800in Tax under section 80 C
*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
In the beginning, you need to create an account on the IT portal if you already don’t have one. This is easy and the investors need not seek many directions from the income tax guide. People who are absolutely new to online processes may need to follow the procedures step by step, but once they have followed all the steps; they won’t have trouble in filing their income tax online from next time.
For creating your own income tax filing account, you need to log on at the official website of the income tax department of India. As soon as you log on to the portal, on the right-hand side you will be able to see directions for registering your account.
Once you click on the tab that says register yourself, you will be guided systematically towards completion. The income tax guide lays down the steps you need to follow to register yourself on the portal.
An investor would first need to specify his/her type, whether individual, HUF, other than individual/HUF, external agency, chartered accountant, tax deductor/collector, third-party software utility developer. After specifying the user type say ‘Individual’, you need to click on the continue tab and thereupon the registration form for the individual page will open up.
Here, you would need to provide details including your Pan, name (surname, middle name, first name), date of birth and residential status (resident/ nonresident).
In this step of income tax guide, the individual needs to verify his/her registration by the mentioned process. The individual would need to create an account id and password and save these for future log in.
In the last step of the registration process in the income tax guide, the individual’s registration will be complete, and registration completion notification will appear on the screen. After that individual can log on into his/her account any time for filing income tax return.
Step 2 of the income tax guide lays down the stepwise procedure of preparing and submitting the income tax return form. Here, it should be noted that only ITR1 and ITR 4S can be filed online.
Once you are logged on to your own account, you will see the dashboard; there you can click on the option ‘Filing of income tax return’. If you want to view e returns filed earlier, then you can click on the tab ‘view returns/form’.
Follow the income tax guide stepwise process on the filing of income tax return as mentioned below:
You can verify just after completion of filing, or you can also verify later. Once you have completed the last step of form filing as per the income tax guide of verifying your form filing you are through with the filing work, and you can click on the save option and save the form filed by you.
Income tax guide comprises several sections on how to fill certain columns. For example, if you are filling ITR 1 form, then you can refer income tax guide on how to file for tax exemptions and deductions under the various sections of the IT Act.
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