Income Tax return filing in just 5 minutes: A step-by-step guide

Filing Income Tax Returns (ITR) for the Financial Year 2023-24 and Assessment Year 2024-25 has been made easier by the Income Tax department, with online forms now available. 

If you’re looking to file your ITR quickly and efficiently, here’s a step-by-step guide to help you complete the process in just five minutes:

Documents required to file ITR online

• PAN and Aadhar Card

• Bank statement

• Form 16

• Donation receipts (if any)

• Investment, insurance policy payment receipts, home loan installment payment receipt, interest certificate

How is income tax return filed?

To file ITR online, first you have to open the official website of Income Tax. Here we are giving you step by step information.

Step 1: Open the Income Tax e-filing website and login by entering PAN number and password

Step 2: Now you have to click on ‘File Income Tax Return’

Step 3: In the next step you have to select the assessment year. If you are filing ITR for FY 2023-24 then you have to select AY 2024-25.

Step 4: In the next step you have to specify the filing status, in which you will get Individual, HUF and other options. If you are filing your ITR then you have to click on ‘Individual’.

Step 5: Now you have to select the type of ITR. There are 7 types of ITR forms in India. Of these, ITR 1 to 4 forms are for Individuals and HUF.

Step 6: In the next step you will have to give the reason for filing ITR. Here you get options – taxable income more than basic exemption, fulfillment of specific criteria and mandatory filing of ITR and other options. You have to select one of these.

Step 7: Validating pre-filed information

Many details like PAN, Aadhaar, name, date of birth, contact information and bank details are already saved. You have to validate this information.

Along with this, you have to fill the details of your income, exemption and deduction step by step. Many of these data are already filled, you have to review it and fill the correct information. 

After this you have to confirm the summary of the return. While validating the details, if any tax is payable, it will have to be paid.

By following these steps diligently, you can complete the process of filing your Income Tax Return within minutes, ensuring compliance with tax regulations and avoiding last-minute hassles.