Filing Income Tax Returns (ITR) online is a convenient and quick process. The following step-by-step guide will help you file your ITR online for the financial year 2021-22 (assessment year 2022-23):
Step 1: Gather all the necessary documents and details
Before you begin the process of filing ITR online, ensure you have all the relevant documents and details at hand, including:
PAN Card
Aadhaar Card
Bank Account Details
Form 16 issued by your employer
Form 26AS, which is a tax credit statement
Details of investments, such as savings accounts, fixed deposits, mutual funds, and insurance policies
Details of income from other sources, such as rent, interest on savings accounts, etc.
Step 2: Choose the right ITR form
The next step is to choose the right ITR form based on your income sources and status. There are seven types of ITR forms, and each form caters to specific types of income sources. Choose the form that corresponds to your income sources.
Step 3: Log in to the Income Tax e-filing website
Go to the Income Tax e-filing website and log in using your PAN Card number, password, and date of birth. If you do not have an account on the website, create one by clicking on the "Register" button.
Step 4: Enter basic details
After logging in, click on the "e-File" option and select "Income Tax Return." Enter your PAN number, select the relevant assessment year, and select the appropriate ITR form.
Step 5: Fill in the details in the ITR form
Fill in all the details required in the ITR form, including personal details, income details, tax paid, and deductions. You can save the form as a draft and come back to it later if required.
Step 6: Verify your return
Once you have filled in all the details, click on the "Preview and Submit" button. Review all the details and ensure that they are accurate. If everything is in order, click on the "Submit" button. You will receive an acknowledgement number on your registered email address.
Step 7: Verify your ITR
The last step is to verify your ITR. You can do this in two ways:
E-Verify: This can be done through net banking, Aadhaar OTP, bank ATM, or Demat account.
Send a signed copy of the ITR-V to the Income Tax Department: This needs to be done within 120 days of filing the return. You can download the ITR-V from the Income Tax e-filing website.
By following these simple steps, you can file your ITR online for the financial year 2021-22 (assessment year 2022-23).