How to File Your Income Tax Return (ITR) Online in India
Overview
Frequently Asked Questions
Any individual whose gross total income in a financial year exceeds the basic exemption limit (₹2.5 Lakhs in the Old Regime, or ₹7 Lakhs under the New Regime) must file an ITR.
Form 16 is a certificate issued by employers detailing your salary earnings and the Tax Deducted at Source (TDS) made during the year, which serves as your primary proof of tax payment.
Form 26AS tracks all TDS and TCS deducted against your PAN. The Annual Information Statement (AIS) is a broader summary detailing all your savings interest, stock trades, mutual fund transactions, and property buys.
Yes. You can calculate your taxable income using monthly salary slips, bank statements showing interest, and investment documents, and file your ITR manually.
You can correct mistakes by filing a Revised Return under Section 139(5) before the end of the assessment year, without paying any penalties.
Yes, linking Aadhaar with PAN is legally mandatory to file and e-verify your Income Tax Returns in India.
The simplest ITR form for resident individuals who earn income from salary, one house property, other sources (like interest), and have total income up to ₹50 Lakhs.
With centralized automated processing, refunds are typically processed and credited to verified bank accounts within 10 to 30 days of e-verification.
A late fee of up to ₹5,000 applies under Section 234F. However, if your total income is below ₹5 Lakhs, the late fee is capped at ₹1,000.
E-verifying is confirming your identity digitally after submitting your return. You can do this via Aadhaar OTP, net banking, or Demat account EVC within 30 days to make your ITR valid.
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