Taxpayers find it very difficult to file income tax return but it is not so. The government has made this process much easier by issuing some new forms. Let’s know how?
ITR Filling Deadline: The month of July is very important for taxpayers filing income tax returns every year, because ITI has to be filed by the end of this month. This time also July 31 is the last date for filing income tax return. In such a situation, lakhs of taxpayers are making rounds of the chartered accountant’s office. However, you can also file ITR without sitting at home with the help of a CA.
One week of this month has passed, but there are still 3 weeks left to file the return. The Income Tax Department advises not to be negligent in this matter, because waiting till the last moment can increase the crowd on the online portal, so be free by filing ITR ahead of time, that too sitting at home. Let’s know how?
ITR filing easier with the introduction of new forms
Generally taxpayers find it very difficult to file income tax return but it is not so. The government has made this process a lot easier by introducing documents like Form 16, Form 26AS, AIS and TIS, so you can file your returns comfortably from the comfort of your home in a few easy steps by providing the required information. For this you do not need to hire a chartered accountant and pay heavy fees.
Here is the whole process
- First of all, to file your ITR, go to the e-filing portal of Income Tax Department www.incometaxindiaefiling.gov.in.
- If you already have an account, log in, otherwise, click “Register Now” to create an account.
- On the homepage, select the “File” option, then select “File Income Tax Return”. Next, select the assessment year and click on the “Individual” option for online filing.
- The most important step in filing ITR is to choose the right form. If employed, then choose ITR-1 form, in which many important details will already be present.
- You can verify the data with your salary slip, Form 16 and AIS. Double-check your bank account details before claiming the refund.
- Submit your ITR after cross-checking and ensure that it is e-verified. This can be done online using your bank details.
The Income Tax Department generally processes ITR within 3-4 weeks. You can check its status online any time using the receipt number. Remember the deadline for filing income tax return was not extended last year so file your income tax return immediately to avoid last minute rush and possible penalty.
