ITR Filing: Do you also file ITR every year by paying money to a CA or tax expert? Most of you will answer yes to this. Filing ITR is good for you in many ways.
For example, it is helpful for you to take a loan, apply for a visa or participate in government tenders. If you keep filing ITR regularly, then banks easily give you loans.
This time the last date for filing is 31 July 2024. Currently there are two types of tax regimes, Old Tax Regime and New Tax Regime. Both have their own advantages and disadvantages. The new tax regime gives easier tax slabs than the old regime. Let us know the step by step guide of ITR e-filing-
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- First login to the income tax e-filing portal incometax.gov.in. If you are a new user, register yourself using your PAN. Now click on ‘File Income Tax Return’. On the dashboard, select the ‘e-File’ section and ‘Income Tax Returns’.
- After this, select the assessment year for which you are filing. After this, choose your filing status like ‘Individual’ or ‘Hindu Undivided Family’ (HUF). After this, select the ITR form.
- If your income profile is as per the rules mentioned earlier, then ITR-1 (Sahaj) will be your likely option. For this, you will first have to decide whether you are filing an original return or a ‘revised’ return.
- Go to tax filing mode and click on Prepare and Submit Online. Let us tell you that Form-16 of employees has been issued by most employers. If you file ITR before 31st July, it will be better for you in many ways.
