How to file income tax return: step-by-step guide, documents required

Deadline for delayed ITR (income tax return) filing for AY 2021/22 is March 31st. An earning individual who has failed to file ITR for AY 21/22 by the due date is advised to apply by March 31st.

Here is everything you need to know about submitting ITRs

Select from four types of forms – ITR 1, ITR 2, ITR 3 and ITR 4 – based on sources of income.

Resident individuals, for example, with less than 50 lakh in annual income, not more than one house owned and minimum (less than 5,000) agricultural income must submit ITR 1.

More details on which form to select are given in the flowchart below:

Courtesy: ANI
Courtesy: ANI

List of documents required to complete selected ITR

Remember that you have all the relevant documents at hand before you start the e-filing process.

, Passbook for bank and post offices

, PPF account passbook

, Salary slips

, Aadhar and PAN (permanent account number) card

, Bank home loan statement (as one)

, Evidence to claim deductions under section 80D to 80U (as one)

, Form-16 (this is issued to you by your employer and has details of tax deducted at source, if any, such as details of paid salary)

There are also three related shapes – 16A, 16B and 16C – that you may need.

Form 16A is required if TDS is deducted from payments (to you) other than salary – such as interest on fixed or recurring deposit – across limits specified by current tax laws.

Form 16B is required if you have sold property; it shows TDS deducted on amount paid to you.

Form-16C is necessary when renting property; it is from the tenant and provides details of TDS deducted on rent received by you.

Form 26AS – this is an annual statement that includes details of TDS

Step-by-step guide for filing your income tax return

Log in to the Income Tax Department portal (www.incometaxindiaefiling.gov.in). If you do not already have an account, register with your PAN. This will serve as your user ID.

Step 1: Download appropriate ITR form

Go to ‘e-filing’ under ‘download’ under the relevant review year and select the appropriate ITR form.

Step 2: Download the Return Preparation Software (Excel tool). Follow the instructions and make sure the auto-fill details match those of your Form 16.

Step 3: Calculate relevant tax details

Calculate tax payable, pay tax, as one, and enter relevant challan details.

If you do not have a tax claim, you can skip this step.

Step 4: Confirm the above details

Confirm the details you enter and generate an XML file.

Step 5: Return

Go to the ‘Submit Return’ section and upload the XML file.

Step 6: Confirmation of ITR verification

A message confirming successful e-filing will be flashed on your screen. The Confirmation Form – ITR verification will be emailed to your registered email ID.

Step 7: E-verify Return

E-verify the return via one of the following six modes: Netbanking, Bank ATM, Aadhaar OTP, Bank Account Number, Demat Account Number and Registered Mobile Number and Email ID. E-verification eliminates the need to send a physical copy of the ITR-5 certificate to CPC, Bengaluru.

(With input from ANI)