ITR Filing Deadline Nears: Keep These Documents Ready Before Filing Income Tax Returns | Full List Here

  • December 9, 2021
  • CA Chandan Agarwal's Office

Income Tax Returns Latest Update: To make filing of ITRs easy, the Central government has launched an e-filing portal, using which the taxpayers can file their ITRs online.

Income Tax Return Latest Update: Attention taxpayers! Have you filed income tax returns (ITR) for the financial year 2021-22? If not, you need to do it before December 31 as this is the deadline to file ITR. Experts dealing with the matter suggest taxpayers to do so at the earliest and not wait for the last moment. If you miss the deadline to file the IT return, you may invite a penalty and can create problems for all taxpayers. As per latest updates, more than 3 crore taxpayers have already filed ITR on the new e-filing portal of the income tax department as of 3 December 2021. It must be noted that the number of ITRs filed per day is over 4 lakh and increasing every day as the last date for filing returns is approaching.
To make filing of ITRs easy, the Central government has launched an e-filing portal, using which the taxpayers can file their ITRs online.

Follow step-by-step guide here to file returns: Visit the income tax e-portal.

  1. Click on the ‘login here’ option on the homepage.
  2. Type in your permanent account number (PAN) in the ‘enter your user ID’ option, and then press the continue button.
  3. Now, confirm the ‘secure access message’ that they have received. After this, click on continue.
  4. Now, one needs to choose if they want to receive the six-digit one-time password (OTP) via text message or voice call.
  5. After selecting the option, click on enter.
  6. Individuals can also use their registered Aadhaar number or net banking to log in to the income tax e-filing portal.
  7. While using the Aadhaar option, the number, as well as the OTP, received needs to be provided.
  8. For net banking, the taxpayer has to enter their user ID and password to get access to the account.
  9. After the completion of the login process, the IT returns for the financial year 2021-22 need to be processed as per the directions given on the screen.
  10. You also need to keep the documents ready before filing the ITR. The income tax return (ITR) can be filed easily if all your information is readily available at hand.

Income tax Return: Documents needed to file ITR

  1. You need to select appropriate ITR form.
  2. Primarily you need PAN, Aadhaar card and bank statements for the financial year.
  3. You also need the Form 16 issued by the employer and Form 16 issued by any other entity.
  4. You need Form 26AS (downloadable from the income tax portal) to check how much TDS was deducted and by who.
  5. Details of income from other sources.
  6. You also need capital gains and share trading statement.
  7. You may also need investment documents such as PPF (Public Provident Fund), NSC (National Savings Certificate), life insurance, medical insurance, NPS (National Pension System), investment in other tax-saving instruments.
  8. Interest and principal repayment certificates of housing loan and donation receipt is also needed while filing ITR.

Source: https://www.india.com/business/income-tax-return-latest-news-today-itr-filing-deadline-nears-keep-these-documents-ready-before-filing-income-tax-returns-full-list-here-step-by-step-guide-to-file-itr-on-new-portal-5130175/

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