The deadline for this year Income Tax Return is July 31. File your ITR before the deadline to avoid paying penalties. However, tax payers who are filing e-return for this financial year 2016-17, don’t have to pay penalties.
Tax payers with income less than Rs 2.5 lakh are liable to file Income Tax Return, Rs 3 lakh for people of the age of sixty years and Rs 5 lakh for the people of the age of 80 years and above.
Steps to file e-return using ITR-1:
- Click on e-filing application, ITR-1. Then move to ‘e File- Prepare and submit ITR online.’
- Read the notification carefully before filing ITR-1
- Fill in the details, employer’s name, address, bank statement, Aadhaar number, PAN number, date of birth. Fill your salary details and the amount deducted by the organisation. After filling the applications, click on the option validate
- Once the acknowledgement detail is displayed, click on the link to view or generate a print out of it.
– Inputs from Kuldip Kumar, Partner and Leader Personal Tax at PWC
Watch the video below to know how to file Income Tax Returns using ITR-1: