
Income Tax Filing Process in India
The Income Tax Return (ITR) filing process involves reporting an individual’s or entity’s income, deductions, and tax liability to the government. The process includes gathering necessary documents (Form 16, TDS certificates, bank statements), choosing the correct ITR form, calculating total income and tax payable, claiming deductions (under sections like 80C, 80D), and submitting the return online via the income tax portal. Timely filing avoids penalties and ensures faster processing of refunds.
ITR Filing Process:
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Collect Documents – Form 16, Form 26AS, AIS/TIS, interest certificates, investment proofs.
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Choose Correct ITR Form – Based on income type (salaried, business, capital gains, etc.).
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Calculate Income & Deductions – Include all income sources and apply deductions.
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Compute Tax Liability – Use applicable tax slabs and rates.
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Pay Tax Dues (if any) – Use Challan 280 to pay remaining tax.
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File ITR Online – Through the official income tax e-filing portal.
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Verify ITR – e-Verify using Aadhaar OTP, net banking, or send physical ITR-V to CPC.