Monday, 12 March 2018

Step by Step Easy Ways to File Income Tax Returns

Filing once Income Tax returns has turned out to be a nightmare to many people in the Country. Filing a return on time could be beneficial for the applicant and the government. You must know how to file tax
return step by step. The government gets their dues on time and the applicant doesn’t have to face any further inquiry or notice. According to the latest budget of 2018, there were several changes made into filing a return. Now a person earning below Rupees 5 lakhs per annum doesn’t need to file any return. An assessed required furnishing a report of audit specified under the law.

Documents like Bank account details, PAN number, Aadhar Card, the address of the house property, Form 16, Pay Slips etc. are required. Likewise, some other details are required as well if you have any mutual funds like details of mutual fund statement, sale and purchase of equity funds, debt funds etc. Always keep in mind that you should file the correct information because of the government always double check the information provided.

Here we explain simple steps to file once Tax Returns :-

1. One can file an IT returns should have to login to E-filing application, now you have to go to E-file and submit ‘ITR Online’ then you have to select the income tax return form and the assessment year. Fill the details in the form and then click the submit button. After submission, an acknowledgment detail will be displayed.

2. File IT Returns in Person - You can collect the income tax return form from the income Tax office and fill it with attached documents and proofs and then you can post it to the Income Tax Office. Nowadays, many private companies are also giving income tax application forms to their employees whosoever wants to file a return In-Person.

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