8:39 pm - Friday July 25, 2014

e-Filing of income tax return in India -Basic steps to file IT returns

Asia Bizz: It is good when one remembers to file the income tax returns of the previous financial year. But it is equally essential to fulfill some of the major requirements that are mostly ignored by the person who files income tax returns in India. So incase you are rushing at the last minute to make sure you are not late in filing your returns online, we have just the points that you need to keep in mind while filing your IT returns.

1. First and foremost, one must be aware of the fact of who should be filing the income tax. Every person who has a total income that exceeds the specified amount is liable to file income tax returns.

2. The I.T returns should be filed by the individuals before 31st July 2011 and no documents are required to be attached to the form applicable. Every individual has to fill the form according to their income. If you don’t know your PAN number, then you can know your PAN card details here.

3. Make sure that all the documents are organized properly so that the tax liability can be ascertained and the returns can be filed without any difficulty. One must calculate tax that is due and incase the total tax deduction and the advance tax paid is lesser than the tax liability, then the individual has to pay self assessment tax via the mentioned challan.

4. In case of any dues, then one must fill in the bank details for rapid refund. The form must be properly verified and signed either digitally or physically, depends on the mode of filing the individual has chosen.

Once you are all set with the required details, go to the Indian income tax e-filing website here and submit your details.

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