2. PROCEDURE:
Why should I file
Advantages of ITR
Who has to file?
Important Terms
Documents required for filing
When to file?
How to register?
How to file?
3. WHY SHOULD I FILE :
Filing returns is a sign that you are responsible
Filing returns is mandatory in some cases
For taking loan or credit card, company may want to see your return
If you want to claim adjustment against past losses, a return is
necessary
Filing returns may prove useful in case of revised returns
4. ADVANTAGES OF ITR
Prompt processing
Better accuracy
Convenience
Confidentiality
Accessibility to past data
Proof of receipt
Electronic banking
5. WHO HAS TO FILE?
Individuals up to the age of 59
For senior citizens (aged 60-79)
For super senior citizens (aged 80 and above)
HUF & Partnership firms Including LLP, Companies
To claim a refund on the excess tax deducted/income tax they've paid
Individuals who have assets or financial interest entities that are located
outside India
NRIs who earn or accrue more than Rs. 2.5 lakh in India in a single financial
year
Entities claiming exemptions u/s 10
7. DOCUMENTS REQUIRED TO
FILL ITR
Bank statements
Form-16
Form-16A
Form-16B
Form-16C
Form 26AS
Tax saving investment proofs
Home loan statement from bank
8. WHEN TO FILE:
Person (other than company) not covered under
tax audits
Person covered under tax audits
Person who has undertaken international
transactions and is liable to report under 92E
31st July
31st October
30th November
9. HOW TO REGISTER- FOR
INDIVIDUAL
Prerequisite for Individual Users
Before taxpayers start registration, ensure the following details
should be hand-in-hand.
Valid PAN
Valid Mobile Number
Valid Current Address
Valid Email Address, preferably your own
Visit the ‘e-Filing’ Portal https://www.incometax.gov.in/iec/foportal/
10. HOW TO REGISTER- FOR HUF
Prerequisite for HUF
The user must have the following mandatory details:
Valid PAN Card
Valid Mobile Number
Valid Email Address, preferable belonging to KARTA*
*Karta means senior most male member in the family. He is the
person who takes care of day to day expenses of the family looks
after the family and protects the joint family properties. No outsider
or stranger can become a Karta.
11. HOW TO REGISTER- FOR OTHER THAN
INDIVIDUAL AND HUF
The user must have the following mandatory details:
Valid PAN Card
Valid Mobile Number
Valid Email Address, preferably belonging to Principal contact
person
12. HOW TO FILE ?
Step 1: Visit the official Income Tax e-filing website and Click
on the ‘Login’ button.
Step 2: Next, Enter Username then Click continue and After
enter your Password.
Step 3: Once you have logged into the portal, click on the tab
‘e-file’ and then click on ‘File Income Tax Return’
Step 4: Select the Assessment year for which you wish to file
your income tax returns and click on ‘Continue’.
Step 5: You will then be asked whether you wish to file your
returns online or offline. In this case you need to choose the
former which is also the recommended mode of tax filing.
13. HOW TO FILE ?
Step 6: Choose whether you wish to file your income tax returns as an
individual, Hindu Undivided Family (HUF), or others. Choose the option
‘individual’.
Step 7: Choose the income tax returns (ITR) you wish to file.
Step 8: The next step will ask you the reason for filing your returns above
the basic exempted limit or because of the seventh provision under Section
139(1).
Step 9: Fill in the details of your bank account. If you have already provided
the details of your bank account, then pre-validate it.
Step 10: You will then be directed to a new page to file your income tax
returns. The page will contain a lot of information filled already. Check them
make sure all the details mentioned are correct. Confirm the summary of
your returns and validate it.
Step 11: The final step is to verify your returns and send a hard copy of if to
the Income Tax Department. The verification process is mandatory
