Salaried employees will be able to file their Income Tax Returns for AY 2023-24 soon after receiving Form 16 from their employers. It is important to note that the tax-filing season has officially started. Salaried taxpayers should know the right process to file their returns. Most salaried individuals are eligible for ITR-1 (Sahaj). For those who do not know, this is applicable to all those taxpayers whose income is not more than 50 lakhs for the financial year.
As per the latest official details, approximately 14,65,641 ITRs were filed till 28 May, for income earned in FY 2022-23. Out of this, around 3834 verified ITRs were processed. Now, it is time for salaried taxpayers to file their Income Tax Returns for AY 2023-24. They will receive Form 16 from their employers by 15 June, as per official details.
Keep reading till the end if you are a salaried employee who wants to file their Income Tax Returns for AY 2023-24 online. It is important to complete the necessary steps in the proper order if you want the filing to be correct.
Income Tax Returns for AY 2023-24: How to File Online
Step 1: Go to the Income Tax e-Filing portal - www.incometax.gov.in.
Step 2: You have to log in to the e-Filing portal by providing your user ID (PAN), Password, and Captcha correctly. Enter the details and tap on submit.
Step 3: Tap on the "e-File" menu and go to the "Income Tax Return" activated link.
Step 4: As per the details on the official website of the Income Tax, your PAN will appear automatically on the Income Tax Return page. You have to select important details such as Assessment Year, ITR Form Number, Filing Type as Original/Revised Return and Submission Mode as Prepare. Click on submit after verifying the details.
Step 5: Tap on Continue after selecting the above-mentioned details.
Step 6: Read the instructions and fill in the mandatory fields of the online ITR form. Click on "Save Draft" to save the data.
Step 7: Now, check details such as gross total income, total deduction, taxes paid and tax liability.
Step 8: Select the right Verification option under the "Taxes Paid and Verification" tab.
Step 9: Tap on "Preview and Submit" to verify all the data in the ITR form.
Step 10: Submit the form online.
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