How to e-file your ITR-1

How to e-file your ITR-1

​How to start

As the financial year ends, you need to collect proofs of income, investments, bank statements and expenses to file your income tax return.

​Conditions

ITR-1 can be filed only by resident individuals who have income of up to Rs 50 lakh. The income can be from either of the following sources only- salary or pension, one property, other sources such as interest income.

Documents required

To file ITR-1, the following documents are needed- PAN, Aadhaar, Form 16 issued by the employer and Form 26AS from TRACES.

Where to file

To e-file a tax return, you should visit the website www.incometaxindiaefiling.gov.in and register with a user id (PAN) and password. If you are already registered, simply click on the registered user tab and add your login credentials to access the dashboard.

​Process

Click on the ‘income tax return’ page. Select assessment year, ITR form and submission mode. You can select the ‘Prepare and submit online’ option and then the pre-filled fields. Click on a suitable e-verification option. General information like personal details need to be filled.

​Income computation

Next, you will be taken to the computation page. After adding data in the tax computation details, the tax payable will be generated.

​Submission of return

You can pay tax due using Net banking or your debit card. Once all details are filled and verified, a preview of the ITR will be shown for verification and changes, if any. If you are satisfied with the details entered, submit the return and complete the process.

 

Source:- economictimes

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