Process of Filing Income Tax Return (ITR) in India

✅ 1. Determine Your Income Sources

Identify and calculate income under the following heads:

• Salary or Pension

• House Property

• Capital Gains

• Business or Profession

• Other Sources (e.g., interest income, dividends)

✅ 2. Choose the Correct ITR Form

Select the appropriate ITR form based on your income type:

• ITR-1 (Sahaj): For individuals with income up to ₹50 lakhs from salary, one house property, and other sources.

• ITR-2: For individuals and HUFs not having income from business or profession.

• ITR-3: For individuals/HUFs having income from a proprietary business or profession.

• ITR-4 (Sugam): For presumptive income scheme under sections 44AD, 44ADA, or 44AE.

✅ 3. Gather Necessary Documents

• PAN and Aadhaar card

• Form 16 (for salaried individuals)

• Form 26AS (Tax Credit Statement)

• Bank statements

• Interest certificates from banks or post offices

• Investment proof for deductions (e.g., LIC, PPF, ELSS, etc.)

• Capital gain statements (if applicable)

✅ 4. Compute Total Income and Tax Liability

• Include all income and apply relevant exemptions and deductions under Chapter VI-A (e.g., 80C, 80D, 80G).

• Calculate tax payable using the applicable slab rates.

• Adjust for TDS (Tax Deducted at Source) and advance tax, if any.

✅ 5. File the ITR Online

• Visit the Income Tax e-filing portal

• Log in using your PAN (as User ID) and password.

• Select "File Income Tax Return".

• Choose the relevant assessment year and ITR form.

• Fill in details, validate, and submit.

✅ 6. Verify Your Return

After submission, e-verification is mandatory:

• Through Aadhaar OTP

• Net banking

• Bank account EVC

• Demat account EVC

• Send a signed ITR-V to CPC, Bengaluru (if not e-verifying)

✅ 7. Processing and Refund (If Any)

• Once verified, the IT Department processes the return.

• Any refund, if due, is credited to your bank account after processing.

📅 Important Dates

• 31st July: Due date for individuals not liable for audit

• 31st October: Due date for taxpayers liable for audit