If your annual income is more than Rs 2.5 lakh then it is mandatory for you to file income tax return.
Although the government has extended the deadline for filing income tax returns till December 31, 2021, but according to experts, one should not wait for the last date to file income tax returns. If you are wondering what is the process of filing Income Tax Return, then this news is of your use.
ITR to be filled online
Tax and investment expert Balwant Jain said that in today’s time all people below the age of 80 years will have to file income return online. Individuals above 80 years of age can file income tax returns online as well as offline. However, if they want to claim refund, they will have to file income tax return online.
Choosing the right form is important
If you are going to file income tax return then it is important for you to choose the right form. If you are going to fill the Sahaj form, then you can fill it online or you can also fill it by downloading. Apart from this, if you want to fill any other form, then you have to download it and fill it.
Fill the form through this website
You can file Income Tax Return through www.incometaxindiaefiling.gov.in. For this you have to open www.incometaxindiaefiling.gov.in in the browser. Now your account has been created on the Income Tax Department’s portal, then login to the website with the login ID and password. If your account is not created on this portal then create a new account. After this you can fill the income tax return by filling the details based on the given instructions.
Keep these documents ready
Though you are not required to upload any document while filing ITR but you should keep documents like Form-16 and bank statement ready. Also you should have proof of investment. This helps in matching the pre-field data.
verification is necessary
According to Jain, after filling the form, you have to do the verification. You can do the verification through Digital Signature, Aadhaar or Demat or Bank OTP. If you are not able to do so, then take a print out of the ITR acknowledgment, sign it and then send it by post to the address specified by the Income Tax Department.