Methods to file earnings tax return: Step-by-step information, paperwork wanted

Final date for delayed ITR (earnings tax return) submitting for AY 2021/22 is March 31. An incomes particular person who did not file ITR for AY 21/22 by the due date is suggested to file March 31.

Right here is every thing it’s essential to find out about submitting ITRs

Choose from 4 kinds of varieties – ITR 1, ITR 2, ITR 3 and ITR 4 – based mostly on sources of earnings.

Resident people, for instance, with lower than 50 lakh in annual earnings, no a couple of home owned and minimal (lower than 5,000) agricultural earnings should file ITR 1.

Extra particulars on which kind to pick out are given within the flowchart beneath:

Courtesy: ANI
Courtesy: ANI


Checklist of paperwork required to fill chosen ITR

Keep in mind to have all related paperwork at hand earlier than you begin the e-filing course of.

> Financial institution and publish workplace financial savings account passbook

> PPF account passbook

> Wage slips

> Aadhar and PAN (everlasting account quantity) card

> House mortgage assertion from financial institution (If any)

> Proofs to assert deductions below part 80D to 80U (if any)

> Kind-16 (that is issued to you by your employer and has particulars of tax deducted at supply, if any, in addition to particulars of wage paid)

There are additionally three associated varieties – 16A, 16B and 16C – that you could be want.

Kind-16A is required if TDS is deducted on funds (to you) aside from wage – resembling curiosity from fastened or recurring deposits – over limits specified by present tax legal guidelines.

Kind-16B is required when you’ve got bought property; it reveals TDS deducted on quantity paid to you.

Kind-16C is required if are renting out property; it’s from the tenant and supplies particulars of TDS deducted on lease acquired by you.

Kind 26AS – that is an annual assertion that features particulars of TDS

Step-by-step information to submitting Revenue Tax Return

Go online to the Revenue Tax Division portal ( If you happen to do not have already got an account, register utilizing your PAN. This may function your person ID.

Step 1: Obtain acceptable ITR kind

Underneath ‘obtain’, go to ‘e-filing’ below the related evaluation yr and choose the suitable ITR kind.

Step 2: Obtain the Return Preparation Software program (excel utility). Observe the directions and make sure that the main points auto-filled match these out of your Kind 16.

Step 3: Compute related tax particulars

Compute tax payable, pay tax, if any, and enter related challan particulars.

If you happen to should not have a tax legal responsibility, you’ll be able to skip this step.

Step 4: Verify the above particulars

Verify the main points entered by you and generate an XML file.

Step 5: Submit return

Go to the ‘Submit Return’ part and add the XML file.

Step 6: Affirmation from ITR verification

A message confirming profitable e-filing is flashed in your display screen. The acknowledgement kind – ITR-Verification will probably be emailed to your registered electronic mail id.

Step 7: E-verify Return

E-verify the return by means of any one of many beneath six modes: Netbanking, Financial institution ATM, Aadhaar OTP, Financial institution Account Quantity, Demat Account Quantity and Registered Cellular Quantity & Electronic mail id. E-verification eliminates the necessity to ship a bodily copy of the ITR-5 acknowledgement to CPC, Bengaluru.

(With inputs from ANI)

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