Through Income Tax e-filing, taxpayers can save substantial time when filing their returns, as the process is considerably hassle-free.
The returns are filed as per Income Tax slabs stipulated by the concerned authorities, whereby individuals can use their digital signature certificate and Aadhaar number to initiate this process. Additionally, individuals should take a look at how Income Tax returns are filed online.
How to file ITR online?
Individuals need to possess vital documents such as PAN, salary details, statements from financial institutions, Form 16A/16B/16C, and Form 26AS among other documents for a successful filing of Income Tax returns.
The following process is a guide to Income Tax e-filing that taxpayers can refer to –
- Visit the official website of the Income Tax Department.
- Click on the ‘Register Yourself’ option.
- Choose ‘User Type’ after being redirected.
- Select ‘Continue’.
- Carefully enter accurate details in relevant sections.
- On being redirected to the registration form, verify the information entered and preserve the password.
- Choose ‘Submit’.
- Check e-mail for an activation link, besides checking the OTP sent to the registered contact number.
- Activate the ITR account after clicking on the link and entering OTP.
After registering as a taxpayer, visit the e-filing Income Tax page and follow these steps –
- Log in to the official page using assigned ID and CAPTCHA code.
- Choose the assessment year and ITR form as per financial profile.
- Follow the instructions and fill in the form precisely.
- Select ‘Preview and Submit’.
- Verify the return with Aadhaar number or an Electronic Verification Code (EVC).
- Preserve the confirmation e-mail and SMS after successful verification and due processing of the Income Tax e-filing.
The online ITR receipt serves as an essential document while applying for credits such as home loans. Besides, it is also acts as a proof of income for self-employed individuals who are not eligible to receive Form 16.