How to File Income Tax Returns in 2024 – Step By Step Guide

How to File Income Tax Returns online an offline

Income Tax Return (ITR) filing is the process of intimating details of your yearly income to the Income Tax Department of India. If, in a financial year, you have paid income tax more than what you are liable for, you will get back the extra amount. 

According to Section 139(1) of the Income Tax Act of India, you must file your ITR compulsorily, especially if you are not exempt from paying the income tax. If you miss the due date, you may end up paying a penalty. 

You can file your Income Tax Returns online in two ways. Know them to file ITR yourself without taking help of an agent.

Documents Required For Filing Income Tax Returns

1. PAN and Aadhaar

2. Bank Statements

3. Form 16

4. Donation Receipts

5. Stock Trading Statements from the Broker Platform

6. Insurance Policy Paid Receipts Related to Life and Health

7. Bank Account Information Linked to PAN

8. Aadhaar Registered Mobile number for E-Verifying the Return

9. Interest Certificates from Banks

How to File Income Tax Returns Online

Here is a step-by-step process that you will have to follow to complete e-filing of your income tax:

Step 1: Visit the portal for e-filing, 

Visit the portal for e-filing,

Step 2: Log in to your profile using your credentials like passwords and PAN card number

Log in to your profile

Step 3: Click on ‘e-File’ and then choose the ‘Income Tax Returns’ option 

Click on ‘e-File’

Step 4: Select your concerned ‘Assessment Year’ and ‘ITR Form Number’, and choose ‘Original/Revised Number’ from the dropdown list under ‘Filing Type’, ‘Prepare and Submit Online’ available under ‘Submission Mode’

  • Choose ‘Assessment Year’ (AY) 2024-25 when filing for the Financial Year (FY) 2023-24. For FY 2022-23, select AY 2023-24. File online and ensure you select the correct filing type, either original return or revised return.

Select your concerned ‘Assessment Year’

Step 5: Click on ‘Continue’ and read given instructions properly

Step 6: Fill out the online ITR form with the necessary inputs

Step 7: Choose a verification option by clicking on ‘Taxes Paid and Verification’ (you can go for e-verification instantly or choose to do it later within 120 days of filling the form, or go with the manual verification)

Note: You need to follow steps mentioned below only if you select e-verification.

Step 8: Enter the EVC/OTP 

Step 9: Click on ‘Taxes Paid and Verification’ to verify all the details you have entered before submitting the form and then submit the filled-in form

After this, you will successfully complete the e-filing process of Income Tax Returns. 

If you are not comfortable with the online ITR filing process, you should be aware of how you can do it offline.

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How to File Income Tax Returns Offline Using ITR Utility

Here are the steps you will have to follow to apply for filing the income tax returns offline:

Step 1: Go to the e-filing portal and navigate to the ‘Downloads’ section

Step 2: Download the zip file of ITR utility from the section of ‘IT Return Preparation Software’

Step 3: Fill in ITR form with the required details 

Step 4: Check all your inputs and calculate your income tax obligation

Step 5: Generate the XML file and keep it saved

Step 6: Visit the e-filing portal again and log in to your user account

Step 7: Click on the ‘Income Tax Return’ option available under ‘e-File’ section

Step 8: Fill in the Income Tax Return page by selecting ‘Assessment Year’, ‘ITR form number’, ‘Original/Revised Return and choosing the ‘Upload XML’ option from the dropdown menu of ‘Submission Mode’ 

Step 9: Attach your ITR XML file

Step 10: Choose the DCS verification option and attach your signature file

Step 11: Enter Aadhaar OTP and complete EVC formalities

Step 12: Submit your filled-in ITR form

Upon completing these steps, you will successfully complete ITR filing.

Documents You Will Have to Submit to File ITR

Keep the following documents handy while filing the Income Tax Returns:

  • Salary Slips
  • Passbooks of Savings Accounts and PPF Account
  • PAN Card and Aadhaar Card
  • Form 16/16A/16B/16C/26AS (whichever of these are applicable)

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How to Check Income Tax Return Filing Status

After you complete the e-filing process of ITR and the verification is complete, you can see the status of your ITR filing as ‘Verified’. Later, the status becomes ‘Processed’ when the concerned authority checks and verifies your e-filing application.

If you want to know the status of your ITR filing, you will have to follow the steps mentioned below:

Step 1: Go to the e-filing portal 

Step 2: Click on ‘Income Tax Return (ITR) Status’

Step 3: Provide your acknowledgement number and mobile number, and click on ‘Continue’

Step 4: Enter the OPT sent to your mobile number

After this, you will be able to check the status of your ITR filing.

How to Download Income Tax Verification Slip

An ITR slip is a valid proof of your annual income in a financial year. For this reason, lending institutions check this to know the repayment capacity of willing loan applicants. You may also need this for various other scenarios where you have to supply proof of your annual income.

You will have to follow the steps mentioned below to download your ITR slip:

Step 1: Log in to the e-filing portal

Step 2: Tap on ‘View Returns/Forms’

After these simple two steps, you will be able to see and download your ITR slip.

Filing an Income Tax Return is a legal mandate for the citizens who are liable to pay the income tax. Although it is not mandatory, a non income tax paying individual can also file the same to report their annual income to the Income Tax Department of India. The ITR slip can help you in situations where you need to prove your gross and net annual income.

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FAQs About Income Tax Returns

1. In What Scenarios Do I Need to Submit My ITR Slip?

Submitting the ITR slip becomes necessary while applying for a loan, credit card, visa, etc. It acts as a valid record of the annual income statement.

2. How Can I Check the Status of the ITR Filing Without logging into the e-filing portal?

You will have to go to the e-filing portal and click on the tab for ‘ITR status’. Following this, you will have to enter the ITR acknowledgement number, PAN number and CAPTCHA code to check your ITR filing status.

3. What Are the Different Ways to Generate EVC while Filing ITR?

There are different ways to generate EVC and complete the verification process. You can use your mobile number and email ID, Demat account, ATM card, Aadhaar card, or bank account details, or use the net banking facility to generate your EVC.

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