File Income Tax Return.
Filing income tax return is an important task that every taxpayer needs to do annually. Here are the steps to file your income tax return:
Collect your documents: Gather all the necessary documents such as Form-16, salary slips, TDS certificates, investment proofs, etc.
Determine your income sources: Identify all your sources of income such as salary, rental income, capital gains, etc. and calculate the total income.
Choose the correct form: Choose the appropriate ITR (Income Tax Return) form based on your income sources and the type of taxpayer you are. The ITR forms range from ITR-1 to ITR-7.
Fill out the form: Fill out the ITR form carefully and accurately. Make sure all the details such as personal information, income details, deductions, etc. are filled correctly.
Verify your return: After filling out the form, verify your income tax return using one of the available methods such as Aadhaar OTP, Net Banking, or by sending a signed copy of ITR-V to the income tax department.
Submit your return: After verification, submit your income tax return. You can either e-file your return or send a physical copy to the Centralized Processing Center (CPC) of the Income Tax Department.
Keep a copy: Once the return is filed, keep a copy of the acknowledgement as proof of filing.
It is always recommended to consult a tax expert or a Chartered Accountant for any clarifications or assistance required in filing your income tax return.
Written by Shivam Keshari
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