00:00As the income tax return filing season dawns, salary taxpayers across the country are gearing
00:06up to meet their tax obligations.
00:10Filing taxes can often seem daunting, but with the advent of online filing, the process
00:16has become significantly more streamlined and accessible.
00:21In today's video, we'll walk you through the entire process, making it easy to file
00:26your ITR online efficiently and accurately.
00:30So let's get started.
00:33Step 1.
00:34First things first, gather all the necessary documents.
00:37Here's what you'll need.
00:39Form 16, provided by your employer detailing your salary and the taxes deducted, your permanent
00:45account number essential for identification, bank account details that are necessary for
00:51refunds of tax payments, investment proofs, documents to claim, deductions under sections
00:57like ATC, ATD, etc.
01:01Having these documents at hand will ensure a smooth and uninterrupted filing process.
01:07Step 2.
01:08Visit the official income tax e-filing portal.
01:13If you are a new user, you will need to register.
01:15Here's how registration will happen.
01:18Use your PAN as your user ID to register on the portal.
01:23Follow the on-screen instructions to complete the registration.
01:26Log in.
01:27If you are an existing user, simply log in using your credentials.
01:34Step 3.
01:35Form 26AS is a consolidated tax statement that includes details of tax deducted at source,
01:42tax collected at source, and other taxes paid.
01:45Here's how to proceed.
01:47Using Form 26AS, after logging in, navigate to My Account and select View Form 26AS.
01:55Verify the details in Form 26AS to ensure that all TDS credits are accurately reflected.
02:02This step is crucial to avoid discrepancies.
02:07Step 4.
02:08For salaried individuals, the ITR-1 Sahay form is typically the most suitable.
02:15It applies if you have income of up to Rs 50 lakhs, income from salary or pension, income
02:22from one house property, income from other sources like interest, etc.
02:29Step 5.
02:30You can fill the ITR form online directly on the e-filing portal or offline using a
02:36Java utility or Excel-based utility provided on the website.
02:41Follow these steps.
02:42Enter your PAN, Aadhaar number, name and address, fill your salary and any other sources of
02:48income, input deductions under section 80C, 80D and other applicable sections, provide
02:55TDS, information as per Form 16 and Form 26AS.
03:02Step 6.
03:04After filling in all the details, validate the form.
03:07The portal will automatically calculate your tax liability or refund amount based on the
03:12entered information.
03:14Make sure you review the calculated amounts for accuracy.
03:19Step 7.
03:21Once you have validated all details and ensured everything is correct, it's time to submit
03:26your ITR.
03:27Post submission, you need to e-verify your return.
03:30Here are the methods you can use.
03:33Aadhaar OTP тАУ An OTP will be sent to your registered mobile number linked with your
03:37Aadhaar card.
03:39Net Banking тАУ Use your bank's net banking facility to e-verify.
03:43Digital Signature Certificate тАУ If you have a DSC, you can use it for e-verification.
03:49EVC тАУ An electronic verification code will be sent to your registered mobile number.
03:54Alternatively, you can send a signed copy of the ITR-V to the Centralized Processing
04:00Center of the Income Tax Department.
04:03Let's recap the final steps.
04:05Validate, ensure all entries are correct, submit the ITR form, complete the e-verification
04:12process to finish filing your ITR.
04:15By following these detailed steps, you can ensure a smooth and hassle-free experience
04:19while filing your income tax returns online.
04:22Remember, timely and accurate filing not only helps you comply with legal requirements but
04:28also avoids penalties and ensures quick refunds if due.
04:32Stay organized, follow the steps diligently and take advantage of the online resources
04:37available to make this tax season a breeze.
04:40Happy filing!
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