E-Filing Income Tax Return is a sign of a responsible citizen of this country, the Government of India has made it mandatory for a taxpayer to Income Tax Return within the stipulated time, if they have taxable Income. The people who do not have taxable income can also file voluntary Income Tax Return, as it has several benefits.
Steps to file Income Tax Return
- Step 1: Register yourself on the Income Tax Department’s e-filing portal
- Step 2: Select the mode of e-filling
- Step 3: Select the appropriate ITR Form
- Step 4: Keep your documents handy
- Step 5: Upload the filed Form
- Step 6: E-verify your ITR or send your ITR-V to CPC Bangalore
Documents Required for filing Income Tax Return or ITR Filing
- PAN Number
- Aadhaar Number
- Form 16
- TDS Certificate
- Home Loan Documents, if any
- Investment Documents, if any
- Form 26AS
Mistakes to Avoid while E-filing your ITR:
- Not quoting your Aadhaar number.
- Not studying Form 26AS properly
- Not checking your personal details.
- Not adding interest income from Fixed Deposits
- Hiding some sources of your income.
- Not reporting exempt income.
- Not choosing the right ITR form.
- Not verifying income tax returns within 120 days of filing it.