Income Tax Filing Procedure in India - Step-by-Step Guide

The Income Tax Filing process involves several steps. Below are the details of each step to ensure successful filing:

Visit the Income Tax Portal: Go to Income Tax Portal.
Register/Login: Create a new account or log in using your PAN and password.
Select the ITR Form: Choose the correct Income Tax Return (ITR) form (e.g., ITR-1 for salaried individuals).
Fill Tax Details: Enter details about your income, deductions, and exemptions.
Upload Documents: Upload Form 16, Form 26AS, and other necessary documents.
Submit Your Return: Click "Submit" after reviewing the form and details.
Verify Your Return: Verify your return using Aadhaar OTP, EVC, or the physical ITR-V form.
Confirmation: Once verified, receive an acknowledgment receipt and wait for processing.

In India, you must file an income tax return if you meet certain criteria. These include:

Your annual income exceeds the basic exemption limit set by the Income Tax Department (₹2.5 lakh for individuals below 60 years of age).
If you are a salaried employee, you must file a return even if your employer deducts TDS (Tax Deducted at Source) from your salary.
If you have earned income from multiple sources (e.g., freelance income, rental income, etc.), you must file a return.
If you want to claim a refund for excess tax paid during the year.

Before starting the filing process, ensure that you have the following documents ready:

Form 16: Provided by your employer, this form contains details of your salary and the tax deducted.
Form 26AS: Contains details of the tax deducted at source and tax payments made by you.
Bank Statements: To show any interest income, dividends, etc., from your accounts.
Investment Proofs: Such as PPF, EPF, insurance premiums, and others to claim deductions under section 80C.
Proof of Other Deductions: For example, medical insurance premiums, tuition fees, etc.
Aadhaar Number: Needed for e-verification and linking to your PAN.

The deadlines for filing income tax returns in India vary based on the type of taxpayer:

Individual taxpayers: The due date is generally July 31st of the assessment year.
Businesses: The due date for filing returns for businesses is typically September 30th of the assessment year.
Extended Deadlines: In some cases, the government may extend the deadline, so always check the latest updates.

When filing your income tax return, be sure to avoid these common mistakes:

Q1: What is the penalty for late filing?
A: If you miss the deadline, you may have to pay a penalty of ₹5,000 (if filed by December 31st) or ₹10,000 (if filed later). A lower penalty may apply for taxpayers with lower income.
Q2: Can I file my income tax return offline?
A: Yes, it is possible to file offline using the ITR-V form, but the online filing process is recommended for faster processing.
Q3: How do I track my refund?
A: You can check the status of your refund on the Income Tax Portal using your PAN and assessment year.

Step	Action	Details
1	Visit the Income Tax Portal	Go to Income Tax Portal
2	Register/Login	Create a new account or log in using PAN and password.
3	Select the ITR Form	Choose the appropriate form based on your income (ITR-1, ITR-2, etc.).
4	Fill Tax Details	Provide details about income, deductions, and exemptions.
5	Upload Documents	Upload Form 16, Form 26AS, and other required documents.
6	Submit Your Return	Review and click "Submit" to file your return.
7	Verify Your Return	Use Aadhaar OTP, EVC, or physical ITR-V form to verify.
8	Confirmation	After successful verification, receive acknowledgment and await processing.

Step	Action	Link
1	Register	Go !!
2	Log In	Go !!
3	e-Pay Tax	Go !!
4	Verify PAN Status	Go !!
5	Know Payment Status	Go !!
6	e-PAN	Go !!
7	Know Your Jurisdictional Assessing Officer	Go !!