The deadline for filing your ITR is July 31st. Missing this deadline may result in penalties or interest, as determined by the Income Tax Department. Hence, you should file ITR online a few weeks in advance to avoid any last-minute rush. Moreover, you could file your ITR through our website as well.
Filing your ITR online is not as complicated as it seems and, in this video, we'll give you a walkthrough of how to file income tax return using ITR I with ease.
To file ITR-1 online, log in to the e-filing portal at www.incometax.gov.in using your PAN as your user ID. With Form 16 and other relevant documents you would be able to file ITR online without much hassle. Begin by selecting the right assessment year. Start a new ITR online filing, choose your applicable status, and proceed. You could select the ITR form (ITR 1 to ITR 7) that’s applicable to you. If unsure, the portal could assist you in deciding.
Verify and update your pre-filled personal details, declare your bank accounts, and verify your income from various sources like salary, pension, and other allowances. If you have made investments or qualify for income tax deductions, be sure to select the applicable deductions under Sections like 80D, 80CCD, 80C, etc., of the Income Tax Act. Based on your inputs, the website will let you know whether you need to pay more taxes, don't owe any additional amounts, or qualify for a refund.
Verify taxes paid, check your tax liability or refund summary, and make the payment if needed. Preview your return, validate, and submit it. Finally, e-Verify your return to complete the process of filing your ITR.
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