STEPS TO FILE INCOME TAX
RETURN (ITR)
An Income Tax Return (ITR) is a form that enables a taxpayer
to declare his income, expenses, tax
deductions, investments, taxes, etc. The Income-tax Act, 1961
makes it mandatory for a taxpayer to file an income tax return
under various scenarios.
The Income Tax Department provides the facility for e-filing an
income tax return. Before discussing the steps involved in e-
filing an ITR, it is essential for a taxpayer to keep the following
documents/information readily available for e-filing their ITR.
PAN and Aadhaar
Bank Statements
Form 16
Donation receipts
Stock trading statements from the broker platform
Insurance policy paid receipts related to life and
health
Bank account information linked to PAN
Aadhaar registered mobile number for e-verifying the
return
Interest certificates from banks
However, you can e-file your ITR on Cleartax by just adding
your PAN. We will auto-fill most of your details, like salary
income, TDS, deduction details, etc, from the Income Tax
Department.
Step 1: Login
Visit the official Income Tax e-filing website and click
on 'Login'.
Enter your PAN in the User ID section.
Click on ‘Continue’.
Check the security message in the tickbox.
Enter your password
‘Continue’
STEP 2 : GO TO ‘FILE INCOME
TAX RETURN’
Click on the 'e-File' tab > 'Income Tax Returns' > ‘File
Income Tax Return.
Step 3: Select The Right ‘Assessment
Year’
Select ‘Assessment Year’ as ‘AY 2024-25’ if you file for
FY 2023-24. Similarly, select ‘AY 2023-24’ if you are
filing for FY 2022-23 and use the mode of filing
as ‘Online’. Select the filing type correctly as original
return or revised return.
Step 4: Select The Status
Select your applicable filing status: Individual, HUF, or
Others.For filing of persons like you and me,
select 'Individual' and 'Continue'.
Step 5: Select ITR Type
Now, select ITR type. The taxpayer must first ascertain which
ITR form they must fill out before filing returns. There are a total
of 7 ITR forms available, of which ITR 1 to 4 is applicable for
Individuals and HUFs. For example, individuals and HUFs
without income from business or profession but with capital
gains can use ITR 2.
Step 6: Choose The Reason For Filing
ITR
In the following step, you will be prompted to specify the reason
for filing your returns. Select the appropriate option that is
applicable to your situation:
Taxable income is more than the basic exemption limit
Meets specific criteria and is mandatorily required to file
ITR
Others
Step 7: Validate Pre-filled Information
Most of the details, such as your PAN, Aadhaar, Name, Date of
birth, contact information, and bank details will be pre-filled.
Validate these details carefully before you proceed further. Also,
provide your bank account information. If you have already
provided these details, ensure they are pre-validated.
As you proceed step by step, ensure to
disclose all relevant income, exemptions, and deduction
details. Most of your information will be pre-filled based on the
data provided by your employer, bank, etc. Review the
information carefully to ensure it is correct. Confirm the
summary of your returns, validate the details and make the
payment of balance taxes, if any.
Step 8: E-Verify ITR
The last and crucial step is to verify your return within the time
limit (30 days). Failing to verify your return is equivalent to not
filing it at all. You have the option to e-verify your return using
different methods such as Aadhaar OTP, electronic verification
code (EVC), Net Banking, or by sending a physical copy of
ITR-V to CPC.
