Income Tax News: For taxpayers, filing Income Tax Returns (ITR) is an essential yearly task that guarantees compliance with tax laws and prevents fines. To file an ITR for Assessment Year (AY) 2023–2024, follow these steps.
Prepare Documents
Assemble the necessary paperwork, including bank statements, investment proofs, Form 16, Aadhaar cards, PAN cards, and other pertinent financial records
Choose the Right Portal
To electronically file your ITR, choose a trustworthy web portal. Make sure the gateway complies with legal requirements and is safe.
Login and Select Assessment Year
Enter the specified portal, log in, and choose the relevant Assessment Year (in this example, AY 2023–24).
Enter Financial Details
Provide true financial information about your income from all sources, investments, deductions, and taxes paid during the fiscal year.
Verify Information
Verify all entered data twice to ensure accuracy and prevent mistakes and inconsistencies.
Submit and Verify ITR
Once the form is filled out, electronically submit it and use an EVC, digital signature, or Aadhaar OTP to confirm the ITR.
Acknowledgment
An acknowledgment receipt with an acknowledgment number is created upon successful submission. Save this receipt for your records.
