Filing ITR for 1st time? Don’t miss this detailed guide from the Income Tax Dept

ITR filing: Whether you’re a salaried individual, freelancer, or just entered the job market, filing income tax returns (ITR) for the first time may seem daunting. Hence, to make the filing process smooth and convenient, the Income Tax Department shared a detailed guide on filing ITR for first-time taxpayers.

In a post on the social media platform X, the income tax department shared a video detailing a step-by-step guide to file tax returns.

Notably, taxpayers must register on the Income Tax (IT) portal before logging in to the Income Tax (I-T) department to file returns. To register, you must have a PAN linked to Aadhaar.

Go to the Income Tax portal and select on ‘Register’ given at the top right of the page. Then enter your PAN card details and other required information. After the details are authenticated, you will receive an OTP. Upon verification of OTP, you will be required to set a password to log in to your account.

Steps to file ITR

After logging in to your IT portal, here’s how first-time taxpayers can file income tax returns, as highlighted by the IT-Dept—

Step 1: Collect all required proofs, including bank statements, income proofs, etc.

Step 2: Download Form 26AS and AIS from the e-filing portal. Cross-check the details with income and TDS.

Step 3: Select the correct ITR form based on your income composition.

Step 4: Enter details of income and deductions, including savings, investments and home loans.

Step 5: Submit your return through the e-filing portal.

Step 6: Complete the process with e-verification.

In addition to the process of filing an ITR, the income tax department has suggested that first-time taxpayers file their returns early.

Lastly, the IT Dept advised taxpayers to “Start early, Avoid last-minute rush and file smoothly.”

Disclaimer: This article is for informational purposes only and does not constitute legal or tax advice. Taxpayers are advised to consult a qualified tax professional or refer to the official website of the Income Tax Department for accurate and up-to-date guidance before filing their returns.