Income Tax News: The procedure of filing Income Tax Returns (ITR) for salaried individuals has been streamlined in the digital era using the official income tax e-filing website – incometaxindiaefiling.gov.in. According to The Times of India, salaried working-class individuals who are entitled to use ITR 1 or ITR 4 forms can easily complete their returns online without the need to download any forms. The stages below walk persons through the online ITR filing process:
ITR Filing Process Here
- Go to https://incometaxindiaefiling.gov.in/ to access the official income tax e-filing website.
- According to the research, first-time users should click on ‘New Registration’ and complete the registration procedure by entering proper information, establishing a profile, and creating a password. Returning users should select ‘Registered user’ and log in with their user ID, PAN, password, date of birth, and captcha code.
- You will be sent to your dashboard after logging in. Click on the ‘e-file’ tab and select ‘Prepare and submit ITR online’ from the drop-down menu.
- For filing your taxes, select the most appropriate form and assessment year. Choose from the PAN database, a previously filed return, or enter a new address. Choose whether or not to digitally sign your return, and then upload your signature.
- After completing the form, click the ‘Submit’ button. You will be redirected to the specified form to examine and fill out the required information. Before you begin, read the ‘General Instructions’ at the bottom of the form for important instructions.
- Fill out the relevant information in the various tabs offered. Check that the Tax payable corresponds to your calculations.
- To review your ITR form before submitting it, click the ‘Preview and Submit’ button.
- Your ITR will be uploaded when you click ‘Submit,’ and you will be required to validate your return using the various options.
- Upload your registered digital signature throughout the submission procedure if you have one. The ITR filing process is completed if the upload is successful.
- To authenticate your return, use the choices offered. Methods such as Aadhar OTP, EVC (Electronic Verification Code), or delivering a signed physical copy to the Centralised Processing Centre (CPC) may be used.
Legal Compliance and Financial Credibility
Filing the ITR on time not only satisfies a legal requirement, but it also provides various advantages. Individuals who file their ITRs on time gain financial credibility with banks and financial institutions, making it easier for them to acquire loans and other financial services in the future. Furthermore, it allows them to save money and avoid penalties.
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