ITR Tips: How to file an income tax return on your own without the help of CA, know step by step process
On hearing the name of Income Tax Return (ITR), it sounds a bit overwhelming and when it comes to filing ITR, it seems that it is an even more difficult task and it cannot be done without the help of CA, although now earlier. It's not a thing. Now you can file ITR on your own. In today's report, we will tell you the step-by-step process to file ITR sitting at home. Let's know...
Understand Income Tax Return
Before filing ITR, it is very important to know that there are two types of ITR. First ITR 1 and second ITR 4. ITR-1 is filed by individuals whose income is up to Rs 50 lakh which includes salary/pension, a house property, income from other sources, etc. ITR-4 is filed by a person if he is eligible to declare profits and gains from business and profession on a presumptive basis under section 44AD, 44ADA, or 44AE.
How to file income tax return online
-Firstly visit www.incometax.gov.in/iec/foportal and log in with your User ID and Password. If the login id and password are not there then create the id first. PAN card number is used as ID.
-After this click on the option of e-File and then click on the Income Tax Return link.
-Now you will see that your PAN number has already been entered.
-Now on this page, you have to select Assessment Year, ITR Form Number, and Filing Type as Original/ Revised Return. Finally, click on Continue.
-After this you will be asked for some important information, fill them in.
-Now the Tax Paid and Verification page will open where you have to select the option according to you.
-Now check the form by preview and then click on submit.