{"id":13266,"date":"2021-09-06T17:28:41","date_gmt":"2021-09-06T11:58:41","guid":{"rendered":"https:\/\/www.fintoo.in\/blog\/?p=13266"},"modified":"2024-09-30T15:07:22","modified_gmt":"2024-09-30T09:37:22","slug":"itr-filing-online-process-step-by-step","status":"publish","type":"post","link":"https:\/\/blog.fintoo.in\/blog\/itr-filing-online-process-step-by-step\/","title":{"rendered":"ITR Filing Online Process Step-By-Step"},"content":{"rendered":"\n

An income tax return<\/a> (ITR) filing doesn\u2019t have to be a worry. You don\u2019t need to take help from an expert or continuously worry about deadlines. Today we can file taxes online. The process of filing taxes online is called E-filling<\/a>. It is quite a simple task and E-filling can be done in just a few minutes from the comfort of your home or office.<\/p>\n\n\n\n

As per Income Tax Act, 1961 every individual with an income (service or business) has to file ITR if they are not from exempt categories. The individual has to declare his\/her income, expenses, tax deductions, investments, taxes, etc. This act makes it mandatory for a taxpayer to file an income tax return under various scenarios.<\/p>\n\n\n\n

As per the regulations an income tax return is a form filed to report the annual income of a taxpayer. A taxpayer can also claim an income tax refund in case of excess tax payment while claiming tax deductions, etc. The refund process is issued in less than 3 weeks if you are using the online process. It is even faster if you choose direct deposit.<\/p>\n\n\n\n

Before you start with ITR filing you must calculate your income as per the income tax law provisions applicable to you.<\/p>\n\n\n\n

You must account for all different sources of your income like salary, shares, bonds and mutual funds, freelancing, receiving rent from property, and interest income. Then you can claim the deductions such as tax-saving investments under section 80C and so on. You should also account for credit for TDS, TCS, or any advance tax paid by you.<\/p>\n\n\n