Introduction
Whether you’re a salaried individual or a self-employed businessperson, the Indian Income Tax Act, 1961, mandates you to file your taxes every year. In the past, this was a manual process that could take days or even weeks to complete. However, with the advent of digitalisation, filing ITR has become a quick and easy task that can now be done online.
Like what you're reading?
Get our latest, straight to your inbox.
Compared to the age-old offline method, filing taxes online is significantly better as it ensures the utmost convenience. You can file your taxes from anywhere at any time without worrying about accuracy since all information is thoroughly checked by validation tools. In addition, you can keep track of your application status with notification updates reaching you at every stage.
Now, do you want to learn how to file your ITR online? Let us guide you!
How to File ITR Online?
Filing your ITR request online is a hassle-free procedure once you know the steps. For a first-time taxpayer who is still confused about the nitty-gritty of the forms and submissions, we have broken down the steps below:
Step 1: Visit the IT e-filing website
Head over to the Income Tax’s official portal to get started. Here, you will be presented with the option to either log in or register yourself. If you are a first-time visitor, create an account with your PAN number and set a password. Now, log in to the portal and get started with your ITR filing.
Step 2: Choose the ITR form that you want to file
Based on your income type and sources, select the appropriate ITR form applicable. Some of the most common forms are:
- ITR-1 (SAHAJ) for salaried individuals
- ITR-2 for individuals with income from capital gains
- ITR-3 for professionals and business owners
Notably, forms for belated and revised returns are also available under sections 139 (4) and 139 (5), respectively. Go through the eligibility criteria thoroughly before picking your form.
Step 3: Fill in your income details
Here, you can either input your income details manually or upload Form 16, which is supposed to be given to you by your employer, in case you’re a salaried employee. This form auto-populates the data for salaried employees. As you complete this step, take care to ensure that all sources of your income, such as salary, insurance, investment interest, and rental income, are accurately noted.
Step 4: Declare deductions
Next up, you will be directed to claim your ITR deductions under Chapter VI-A. Based on the details you entered in the step 3, you will be eligible for deductions under sections 80C, 80D, 80G, and so on.
Step 5: Verify tax liability
After inputting your income and deduction details, the system will compute your tax liability. Ensure this matches your calculations. In the event that the figures are mismatched, you will run the risk of delayed or cancelled returns.
Step 6: Pay any additional tax
Now, either you will have overpaid tax, in which case you are eligible for a refund. Or, after tax calculations, you will be shown an additional tax liability that you have to pay to settle the dues. If there is one in your case, pay the amount through net banking, debit card, or other available methods.
Step 7: Submit Your ITR
Once you are satisfied with the details, click on the Submit option at the bottom of the page.
Step 8: Verify your details
You can verify your return instantly using Aadhaar OTP, net banking or electronic verification code (EVC). If you prefer manual verification, you can send the signed ITR-V to the Income Tax Department in Bengaluru within 120 days.
Wrapping Up
Gone are the days of manually filling in forms and waiting in long lines to file your income tax return. Thankfully, online methods today simplify this process, enabling you to go through a hassle-free ITR filing in just minutes. We hope this informative read will help you easily understand how to file an ITR.
