Filing Income Tax online in India is a straightforward process that can be completed through the official e-filing portal of the Income Tax Department. Here's a step-by-step guide:
1. Register on the Income Tax e-Filing Portal
Visit the official e-filing https://www.registerkaro.in/income-tax-filing-online.
If you are a new user, register using your PAN, which serves as your User ID. If you're already registered, log in using your credentials.
2. Link Your Aadhaar with PAN
Ensure your Aadhaar is linked with your PAN. This is mandatory for filing returns online.
3. Choose the Appropriate ITR Form
Select the correct Income Tax Return (ITR) form based on your income source, such as salary, business income, capital gains, etc. The portal guides you on choosing the right form.
4. Collect Required Documents
Gather all necessary documents like Form 16 (for salaried individuals), Form 26AS (Tax Credit Statement), bank statements, investment proofs, and any other relevant financial documents.
5. Fill in the ITR Form
You can either fill the form online directly on the portal or download the form, fill it offline, and then upload it.
Enter details like personal information, income details, deductions, and tax payments. The portal may auto-fill some information based on your PAN and Form 26AS.
6. Verify the Information
Double-check all the entered information to ensure accuracy. Mistakes could lead to processing delays or even penalties.
7. Calculate Your Tax Liability
The portal will automatically calculate your tax liability based on the information provided. Ensure that the calculations are correct and match your records.
8. Pay Any Tax Due
If there is any tax due, pay it through net banking, debit/credit card, or other available options. Generate the Challan receipt and update the details in the form.
9. Submit the ITR
Once everything is filled and verified, submit your ITR. Upon successful submission, an acknowledgment number will be generated.
10. Verify Your ITR
You must verify your ITR within 30 days of submission. You can do this electronically through Aadhaar OTP, net banking, or by sending a physical signed copy to the Centralized Processing Centre (CPC) in Bengaluru.
11. Keep a Copy for Your Records
Download and save a copy of your filed ITR and acknowledgment for future reference.
12. Track Your Refund (if applicable)
If you're eligible for a refund, you can track its status on the e-filing portal under the 'Refund Status' option.
For more information, visit us on: https://www.registerkaro.in/