Filing an income tax return (ITR) does not have to be a chore. You don’t have to rely on an expert or be concerned about meeting deadlines all the time. We may now file our taxes online. E-filing refers to the procedure of filing taxes online. It is a simple task that can be completed in a matter of minutes from the comfort of your own home or office. Tax HelpDesk helps you exactly with that, you can complete your ITR online filing anytime and anywhere. Tax HelpDesk is your one-stop solution to all your income tax-related services along with exceptional income tax consultation services. Let’s dive into the blog to learn more.
Simple Steps of ITR Filing Online
According to the Income Tax Act of 1961, every individual having an income (service or business) is required to file an ITR if they do not fall into one of the exempt categories. Individuals must declare their income, expenses, tax deductions, investments, taxes, and so on. This act requires a taxpayer to file an income tax return in a variety of situations.
According to the regulations, an income tax return is a form that is filed to disclose a taxpayer’s annual income. A taxpayer can also claim an income tax refund if he or she overpays taxes while claiming tax deductions, for example. If you use the online approach, you will receive your refund in less than three weeks. It will be even faster if you use direct deposit.
Before you begin ITR online Filing, you must assess your income in accordance with the income tax laws that apply to you.
Steps by Step Procedure for ITR online Filing
You may complete your ITR online Filing with Tax HelpDesk in six simple steps:
- Select the service that you require.
- To create your account, sign up for/login to your Tax HelpDesk account.
- Make the required payment.
- Please upload any papers that have been requested.
- Keep an eye on the status of your application, and your order will be completed.
After you place your purchase, TaxHelpdesk’s document review specialists will review the papers you provided within 24 working hours. Following the review of the paperwork, your request will be allocated to a Tax Expert who will handle it. You will also be able to view the order’s status on your allocated account. You can also opt for a really amazing Income tax consultation service.
Documents Required For ITR Filing
It is critical to gather all necessary documentation before beginning the ITR filing process. It will assist you in calculating taxes and deductions and will be handy when uploading. The following documents should be kept on hand:
- PAN card
- Aadhar Card
- Salary slips
- Bank and post office savings account passbooks, as well as PPF account passbooks
- Form-16 – TDS certificate issued by your employer to provide details of your salary and TDS deducted on it, if any Interest certificates from banks and post office
Depending on your occupation, there are many types of form16
Form-16A, if TDS is deducted on payments other than salaries, such as interest from fixed deposits, recurring deposits, and so on, that exceed the stated limits under current tax rules.
If you have sold a property, you must obtain Form-16B from the buyer. Furthermore, which shows the TDS deducted from the amount received from you.
Form-16C from your renter, in order to provide information on the TDS, deducted on the rent you received, if any.
Form 26AS – Consolidated Annual Tax Statement It contains all of the information about the taxes that have been deposited against your PAN.
a) TDS withheld by your employer
b) TDS levied by banks
c) Any other organisations’ TDS collected from payments provided to you
d) Taxes paid in advance by you
e) You have paid self-assessment taxes.
Proofs of tax-saving investments: Proofs to claim deductions under sections 80D to 80U (health insurance premiums for self and family, interest on school loan, bank loan statement).
