Deadline Alert: File Your ITR by July 31, 2024
The deadline to file your Income Tax Return (ITR) for the financial year 2023-24 and assessment year 2024-25 is July 31, 2024. With two months left, many employed taxpayers are awaiting Form 16 from their employers. Here’s a quick, step-by-step guide to filing your ITR online in just a few minutes.
Step-by-Step Method to File ITR Online
- Visit the Income Tax e-Filing Website: Go to https://www.incometax.gov.in/iec/foportal/.
- Login: Enter your PAN number and password to log in.
- Start Filing: Click on ‘File Income Tax Return.’
- Select Assessment Year: For the financial year 2023-24, choose Assessment Year 2024-25.
- Identify Yourself: Select ‘Individual’ if you’re filing for yourself.
- Choose ITR Form: Select the appropriate ITR form. Forms 1 to 4 are for individuals and HUFs.
- Specify ITR Type and Reason: Choose options like ‘taxable income more than basic exemption’ and check the relevant boxes.
- Update Pre-filled Information: Verify and update your PAN, Aadhaar, name, date of birth, contact information, and bank details. Enter your income, tax, and deduction details. Confirm to file your return and pay any remaining tax.
Required Documents
- PAN and Aadhaar Card
- Bank statement
- Form 16
- Donation receipts
- Investment and insurance policy payment receipts
- Home loan payment certificate or receipt
- Interest certificate
CA Amit Bansal, Partner – Direct Tax at Singhania & Co., emphasises, ‘Accurate documentation and timely filing are crucial to avoid penalties and ensure a smooth tax filing process.’
By following these steps and ensuring all required documents are on hand, you can file your ITR quickly and efficiently. Don’t wait until the last minute—get started now to avoid the rush and potential errors.
Content Writer at Vakilsearch
Hello! I am Monika Shanmugam. With 4 years of crafting engaging and informative content, I'm passionate about demystifying complex topics and weaving impactful narratives. My legal-writing journey began at Vakilsearch, where I spent the past year immersing myself in the intricacies of the legal landscape. This experience shaped my ability to translate legalese into digestible language, empowering individuals with the knowledge they need to navigate the legal system confidently.
Latest posts by Monika Shanmugam (see all)
