How to file your income tax return this is what I am going to show you live demo explained in Hindi.
Now as many people knows about income tax that we have to pay tax for the income we have earned within the specified limits defined by the finance ministry of our country, but people even today does not know that even if you are filing taxes you have to file Income tax return which is mandatory, it’s very useful if you have already submitted tax more than it was required or get to know what tax is left I need to submit to the IT department.
Generally salaried employees get Form 16 from there company in which they work, which is actually the tax submitted on your behalf to the government and has all details including the savings which you have done in various schemes like NPS, insurance, FD etc if you have made aware your company about this before preparation of Form 16.
Companies finance\tax department prepares the form 16 and the savings proof(which you have submitted) basically on which you can get tax exemption is at the end is submitted to the Income tax department and the Form 16 has all the details about it.
Now days it’s very easy to file IT return(Income tax return). You require below details to fill IT Return:
1. Pan Card
2. Aadhar card
3. Form 16 from your employer
4. Form 26AS download from the website mentioned in next point (shown in video)
5. Your registration details in e-filing site of Income tax India Department(https://incometaxindiaefiling.gov.in/)
Process to fill ITR
1. First method is simple either you can fill your IT Return online on website mentioned in above link then you can go for verification by E-Verify(Online easiest method will show you)
Note: If you are using ITR-5 then you have option to send the acknowledgement letter duly signed to below address if not doing e-Verify
Income Tax Department – CPC, Post Box No – 1, Electronic City Post Office, Bangalore – 560100, Karnataka, India
Acknowledgement form downloaded is password protected which can be easily open by as follows:
The password is your PAN number in lower letters along with date of birth.
Date of birth: 01/01/1985
2. Second method is to download the relevant form which you have to fill like ITR-1, ITR-2 etc. The form is actually in excel sheet and is having macros in it, you will fill the excel form(remember copy paste will not work) then you will have to generate the XML file which you will upload on Income tax site, after uploading you will get the acknowledgement letter and now the process is same as shown in first method.
IT Return Forms Meaning
Income Tax Exemption Section List(Official)
Income Tax Slab (Official List)
Pay Tax Online
Please watch the complete video for proper understanding.
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