Filing your income tax return: A step-by-step guide

Filing your taxation come

1. Documents required

Form 16/16A

Form sixteen is issued to salaried workers and 16A to professionals, typically between April-June

Should otherwise be generated via the TRACES web site (TDS Reconciliation Analysis and Correction enabling  System)

If you notice any errors, you must cotton on corrected as required by the institution at the earliest

Form 26AS

Displays all payments (including wage income) created to you within the twelvemonth and along side tax subtracted and paid

Includes entries from leader, client, bank / the other entity UN agency has created a payment to you and subtracted tax on that

Includes any advance tax / self-assessment tax paid by you throughout the twelvemonth

Download from TRACES web site, or your bank’s Netbanking web site by clicking on “View diminution Statement’

Signyourdoc is a licence certificate authority to provide digital signature online. Apply Digital signature for Income Tax online.

Statements of financial gain and tax-saving investments

Salary slips and kind 16/16A

Income from dividends and sale of investments

Income from sale of property and the other financial gain attained by you throughout the year

If salaried, you’d have already given proof of tax saving investments to your leader

Exceptions like donations to approved establishments may be enclosed whereas filing returns

Expenses and Reimbursements

If salaried, most reimbursements square measure already accounted by leader

If freelancing or freelance, a part of some expenses like fuel, electricity, broadband may be claimed as a deduction

Depreciation may be claimed on your laptop / portable computer / mobile / pill, vehicles, the other devices utilized in business

You don’t got to really submit these documents to the taxation Department whereas filing your taxation come – but, you must keep them handy just in case there’s a question  throughout scrutiny of your come later.

2. that ITR kind to fill

Depending on your class as a payer, there square measure completely different ITR forms. the foremost common forms for people are:


For individuals being a resident apart from not normally resident having financial gain from Salaries, one house property, different sources (Interest etc.) and having total financial gain upto Rs.50 lakh


For Individuals and HUFs not having financial gain from profits and gains of business or profession


For individuals and HUFs having financial gain from profits and gains of business or profession

ITR four (SUGAM)

For Presumptive financial gain from Business & Profession

Details of different ITR forms may be viewed on the taxation Dept web site you must take care to avoid these common mistakes whereas filing your taxation come.

3. Calculate liabilities / refund eligibility

If you have got different financial gain on that tax is owed on the far side that subject to TDS, or expenses that you’ll comply with claim a refund, calculate your actual liabilities for the year as you’re filling within the ITR kind itself, or use this calculator. If any further tax is owed, you’ll pay it here as Self-Assessment tax.

4. Filing your taxation come

Once your ITR kind is completed, you’ll file it on-line (depending on ITR) or complete it offline

Generate associate degree XML file from it and reserve it on your laptop

Login to the taxation Department’s e-filing web site or register if you’re a replacement user

Upload the saved XML file to come up with associate degree acknowledgement, referred to as ITR-V

5. verificatory your taxation come

Offline – transfer, print and sign ITR-V in blue ink, send it to CPC Bangalore among one hundred twenty days of filing your come

Online – there square measure 5 ways in which of verificatory your come on-line

EVC – ten digit Electronic Verification Code generated at ATM, valid for seventy two hours

Netbanking – when work in, choose ‘income tax e-filing’, choose come to verify from IT web site

Aadhaar OTP – If your Aadhaar range is joined to PAN and your mobile range is joined to Aadhaar

Verify via your pre-validated demat account

Verify via your pre-validated checking account

For the other queries on filing your taxation come, you’ll check the resources on the market at the tax helpline.

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