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What Are The Steps To File An ITR Online?

Adhil Shetty


Q. What are the steps to file an ITR online? Samar Agarwal

A. Before you file your income tax returns, here is a list of things you must keep ready:

  • Form 16 and Form 26AS
  • Bank account details
  • Bank account statements for the relevant financial years
  • All investment-related documents
  • Details of income from all the sources
  • Details of premium paid for all health insurance policies
  • Details of expenses incurred during the relevant financial year

Here is a step-by-step procedure to file your income tax returns:

  1. Calculate your total income using Form 16 and Form 26AS. Sort out mismatches between Form 16 and form 26AS, if any.
  2. Next, calculate your tax liability after accounting for tax deductions under 80C, Section 80D, etc.
  3. Adjust the tax already paid through TDS or Advance Tax and pay unpaid taxes, if any.
  4. File the appropriate ITR form.
  5. Verify ITR-V by signing it and sending it to the Income Tax Department.

Have a question on personal finance? Ping me on Twitter at @adhilshetty with the hashtag #AskAdhil. The writer is CEO, BankBazaar.com, an online marketplace for loans and credit cards.