The Last date to file ITR for FY 23-24, AY 24-25 without a late fee is 31st July 2024.
The ITR Filing season is here, and filing your ITR now can help you avoid penalties and notices. While you can file your ITR directly through the Income Tax Department’s ITR Filing portal, it can be complex and intimidating to understand the tax terminologies.
But with Tax2win, the process becomes seamless and hassle-free. Whether you’re a salaried individual, a business owner, or an NRI, Tax2win’s intuitive platform is designed to cater to your needs, making tax filing super easy. In this guide, we’ll walk you through the step-by-step process of filing your ITR online using Tax2win, ensuring you can handle your taxes with confidence and ease.
Things to Keep in Mind Before Filing Your ITR
Before diving into the ITR filing process, it’s crucial to be well-prepared. Here are some essential steps to ensure a smooth ITR filing experience:
- Gather All Necessary Documents: Ensure you have your PAN card, Aadhaar number, Form 16 (if applicable), and investment proofs ready. Having these documents at hand will make the process more efficient and reduce any potential delays.
- Choose the Correct ITR Form: It’s vital to select the correct ITR form based on your income sources. Well, Tax2win’s AI-integrated platform automatically selects the appropriate ITR form based on your income details.
- Review Before Submission: Carefully review all pre-filled and entered information before filing. This will help avoid errors and ensure accuracy.
- E-Verify Your ITR: To validate your return, remember to e-verify your ITR within 30 days of filing. E-verification is a mandatory step for processing your ITR.
Ready with the necessary documents? Let’s help you File Your ITR.
Step-by-Step Guide to File Your ITR
Filing your ITR has never been easier, thanks to Tax2win. Here’s a detailed guide on how to file your ITR online:
Step 1: Log in to the Tax2win website using your existing credentials or sign up to create a new account.
Step 2: Select the relevant income sources applicable to you and let Tax2win’s AI-integrated intuitive portal automatically select the relevant ITR form based on your income sources.
Step 3: Upload Form 16. If you don’t have Form 16, you can simply proceed without it.
Step 4: Select the Financial Year and provide PAN details and your Date of Birth. If you don’t have a registered account with the Income Tax Department, an OTP will be sent to create a new account. Otherwise, you can choose to pre-fill your data, and Tax2win’s intuitive portal will auto-populate your details.
Step 5: Enter basic personal details. Some information may already be pre-filled from the Income Tax Department’s database; however, make sure to verify it.
Step 6: Provide your address details and employer category.
Step 7: Fill in your employment details. A standard deduction is automatically applied for salaried employees. Enter details such as gross salary/CTC, exempted allowances (e.g., HRA, LTA, gratuity), net salary, standard deduction, and professional tax under section 16. If Form 16 is uploaded, employment data will be pre-filled; verify and proceed.
Step 8: Enter investment details made during the year to calculate applicable deductions. Include investments in PPF, LIC, PF, housing loan, FDR, NSC, tuition fees, premiums for annuity, and other 80C deductions. Additionally, claim deductions like 80D, 80CCD (1B), and 80G.
Step 9: Provide bank details, including IFSC code, bank name, account number, and Aadhaar details. All bank details must be shown as per government regulations. Make sure you enter the details of the bank account in which you want to receive your tax refund.
Step 10: Upload Form 26AS. TDS details will be auto-populated. If Form 26AS is unavailable, fill in the details manually. If tax is paid, indicate so and provide challan details.
Step 11: Select the return filing type. If income is less than Rs. 2.5 lakhs and certain expenses exceed specified limits, select the appropriate option. Specify the number of days stayed in India to determine residential status.
Step 12: The software computes tax liability using both old and new regimes. Compare and select the preferred regime.
Step 13: Review all information, check the box, and click “File my return.” Don’t forget to e-verify the ITR within 30 days to complete the process.
Expert-assisted ITR Filing with Tax2win
If you don’t want to go through the hassle of self ITR filing or find taxes confusing, you can hire an online CA to help you file your taxes. With over a decade of industry experience, Tax2win’s experts guide you through the ITR filing process right from tax planning to tax filing. Just follow these simple steps –
- Schedule an appointment with tax experts.
- Provide the necessary documents.
- Let the experts file your ITR for you.
File ITR online with Tax experts and experience a stress-free ITR filing journey.
Why Choose Tax2win?
Tax2win offers a range of benefits that make tax filing a breeze:
- Ease of Use: The platform is designed to be user-friendly, guiding you through each step.
- AI-Enabled: Automatically selects the correct ITR form based on your income sources.
- Expert Assistance: For those who find tax filing overwhelming, Tax2win’s CA-assisted service provides personalized guidance from experienced Chartered Accountants.
- Time-Saving: Complete your filing in less than 4 minutes with our intuitive platform.
- Secure: Your data is kept safe and confidential, adhering to the highest security standards.
Conclusion
Tired of the annual tax season stress? With Tax2win’s innovative and user-friendly platform, you can say goodbye to the hassle of tax filing. Whether you prefer the ease of the DIY option or the personalized CA-assisted service, Tax2win has you covered. Our platform automatically selects the appropriate ITR form based on your income sources and guides you through each step with ease. Start your seamless tax filing journey today by visiting Tax2win. Relax while we make make your tax-filing journey effortless.
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