Online Filing of Income Tax Returns for Fiscal Year 2024-25: A Step-by-Step Guide
In the world of technology and culinary discoveries, Himani Jha, a seasoned tech news writer, takes a break to navigate the Income Tax Department's e-filing portal and file her returns. For those who find the process as daunting as a new city's map, here's a simplified guide to filing your ITR for FY 2024-25 (Assessment Year 2025-26).
Before you begin, gather your documents: PAN card, Aadhaar card, Form 16 (if salaried), bank statements, investment proofs for deductions (80C, 80D, etc.), Form 26AS (tax credit statement), and other income details like capital gains or business income.
1. Access the Income Tax e-filing portal at www.incometax.gov.in and log in using your PAN and password.
2. Under the ‘e-File’ tab, choose ‘Income Tax Returns’ and then ‘File Income Tax Return.’
3. Select AY 2025-26 corresponding to FY 2024-25 returns.
4. Most individual taxpayers will select 'Individual.' Others can choose HUF or others as applicable.
5. Pick the correct ITR form based on your income: ITR-1 for salaried individuals with income up to ₹50 lakh, ITR-2 if you have capital gains, multiple house properties, or complex income sources (no business/profession income), or ITR-4 for presumptive income from business or profession.
6. You can download pre-filled data which includes income details, TDS, and deductions auto-filled from Form 16 and Form 26AS. If filing offline, download the Common Offline Utility to fill your return, then generate and upload the JSON file on the portal.
7. Review personal information, income details, deductions under various sections like 80C, 80D, and tax paid details. Correct any discrepancies.
8. Choose the applicable reason such as having taxable income above the exemption limit or mandatory filing requirements.
9. The system will calculate your tax payable or refund due. If tax is due, pay it using challan 280 before submission.
10. Submit your ITR online.
11. E-verify your return via Aadhaar OTP, Net banking, or Electronic Verification Code (EVC) sent to your registered email/phone.
12. After successful submission and verification, download or save the ITR-V acknowledgment for your records.
Key additional notes: - The due date for filing ITR for individuals without audit requirements is usually July 31, 2025, for FY 2024-25. - Offline filing is possible via the Income Tax Department’s utility software but e-filing with e-verification is simpler and preferred. - Ensure all information corresponds with your official documents and Form 26AS to avoid notices or discrepancies.
For business owners or professionals, the filing might involve more detailed forms and schedules. The e-filing portal is the location to download the ITR copy. To download the ITR copy, users should view returns/forms and select Income Tax Returns. Users can download the PDF of the ITR-V for their records. After selecting the assessment year, users should click on the ITR-V Acknowledgment Number.
While Himani Jha is not immersed in gadgets, she enjoys exploring the vibrant culinary scene. Over the past five years, she has contributed to leading publications such as Times Network, Gadgets 360, and Hindustan Times Tech. In her free time, she indulges in her love for fine literature and timeless music.
- In between her culinary adventures, Himani Jha might take breaks to manage her personal finances, including using her smartphone to access banking apps for checking bank statements necessary for filing income tax returns.
- After a long day of scrutinizing the latest smartphone launches and financial technology trends, Himani Jha could utilize personal-finance apps on her smartphone to optimize her investments, thereby reducing her tax liability and boosting her savings, just like navigating the city's map with the help of GPS navigation.
