How to File Income Tax Returns aka ITR Online in India

                                  How to File Income Tax Returns aka ITR Online in India - 2023 Updated - 

Sometimes users want to file an income tax return aka ITR. Users can file ITR online for free easily via the Income Tax Department’s official website or third-party IT return filing websites as well. Let's discuss how to file income tax returns online in India. 

NOTE- Users who want to file income tax returns in India, just remember that there are 4 types of income tax return (ITR) forms. Let’s discuss briefly-

ITR-1:- Those users who have income under Rs. 50 Lakhs per year should file ITR-1. They have permission to declare income from one house property, agricultural income up to Rs. 5,000, and income from other sources.

ITR-2:- Those users whose income is more than Rs. 50 Lakh, and have any gains to declare, then you need to file ITR-2. There are some types of incomes such as foreign income, multiple house properties, etc. 

ITR-3:- Those users who have income from business or profession then you need to file ITR-3.

ITR-4:- The income sources that are listed under the ITR-1, and the total income is more than Rs. 50 Lakhs per year, then you need to file ITR-4. 

STEPS TO FILE ITR ONLINE

• Create an account on the IT department’s website first. Just click here to do it. Just follow their terms & conditions, and fill in the necessary details. Once done then follow the next step.

• Move to the Income Tax e-filing website & log in to your account. 

• Tap on Filing of Income Tax Return.

• On the next page, choose your Assessment year. Note that the assessment year is the year after the financial year of your return. For example- if you’re filing an IT return for the financial year 2018-19, the assessment year is 2019-20. 

• Next choose the ITR Form Number, Filing Type (should be originalrevised return), and then Submission Mode. For the last one you’ve to choose Prepare & Submit online.

• Then choose Continue.

• This year the income tax department has made it really convenient to file IT returns online by pre-filling a lot of information about your income. Those users who are salaried person with no source of income, and you declared your investments, and expenses (such as rent, PDF, etc) to your company, you may not even have to fill in any data. In our case the form was pre-filled, and we needed to do was enter our bank details.

• For this, tap on the Taxes & Verification tab to add your bank details. Switch down to D21. Bank Account Details, add the information, and tap on the ‘Add’. It allow to get income tax refund credited to your account. Once you checked all the information, just switch bottom, and tap on ‘Save Draft’.

• Now visit all the tabs with General Information. You just need to check your name, address, and other information. 

• Tap on the Income Details tab. This allows to check the salary information that is pre-filled. If it’s not done then get Form-16 from your employer & manually key in all of your income details. 

• Switch down to section B5. Gross Total Income. Users can double-check if all the deductions are correctly premium. 

• Now the user has to fill the insurance premium, PPF, NPS investments, health insurance premium, etc. Just remember to check C15, 80TTA Interest on saving bank accounts & key in interest earned throughout the year from the saving account. 

• Now, check C18, Total Deductions & C19. Taxable Total Income. Just check all the information, and tap on ‘Save Draft’.

• Check the 80G tab now, and declare charitable donations, if you’ve made any. 

• Again visit all the tabs, and check all the information. Once done, move to the taxes Paid & Verification, and scroll down to click on ‘I Would Like to e-verify & then tap on Preview, and Submit. 

• Now tap on OK in the confirmation box.

• Users will get to see a preview of the entire ITR that they have to read carefully, and check all the information. Then tap on ‘Submit’.

• Users need to choose ‘how to e-verify IT return’. Just select Aadhaar OTP if you’re linked. In case if you’re not then choose Net Banking, and tap on continue.

• At last click on ‘SUBMIT’.

You’re done with all the steps, and after these steps you’ll get to see the confirmation message: “Your Return has been successfully uploaded”. Those users who haven’t verified yet, just need to do that after 120 days, file your IT return. 

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