ITR News: The last date for filing income tax returns for the financial year 2023-24, July 31, is now gradually approaching. If you have not filed your ITR yet, do it quickly, so that there is no problem later. Most of the people filing personal income tax returns have received Form-16. In such a situation, the advice of most experts is to change the habit of filing ITR at the last minute to avoid mistakes. Like last time, this time too there is little possibility of the last date for filing ITR being extended.
you your ITR You can fill it through your CA, lawyer or yourself. If you want to file your ITR online through the Income Tax website, then through this news Live Mint is telling you the step by step process…
Keep these documents ready before filing ITR
Form 16
capital gains statements
Proof of tax saving investments
Now follow these steps
STEP 1: To file income tax return online, go to Income Tax Department. Portal Login to.
STEP 2: Go to e-File menu and select Income Tax Return.
STEP 3: Choose the ITR form based on your income (if you have Form 16, choose ITR-1 or ITR-2). Select Assessment Year (AY) 2023-24.
STEP 4: Verify all the data entered in the form and submit.
STEP 5: After submission, e-verify your return using Aadhaar OTP or other available options.
STEP 6: Upload and verify your return.
Who should file ITR?
You will be required to file your Income Tax Return (ITR) if the total income before deductions under sections like 80C, 80CCC, 80CCD, 80D, 80E, 80G, 80GGA, 80TTA/80TTB exceeds the basic exemption limit. Apart from this, as a resident of India, if you own as a beneficiary any property outside India then you will have to file ITR.
Apart from this, if you have deposited more than a certain limit in your bank accounts then it is mandatory to file ITR. For current accounts, this limit is Rs 1 crore in aggregate, while for savings bank accounts it is Rs 50 lakh in one or more accounts.
