Income tax filing for PAN (Permanent Account Number) in India
Income tax filing for PAN (Permanent Account Number) in India
Income tax filing for PAN (Permanent Account Number) in India
1. Obtain a PAN (if not already done)
- If you don't have a PAN, apply for it through the NSDL or UTIITSL websites or visit the nearest PAN facilitation center.
2. Register on the Income Tax e-Filing Portal
- Visit the official income tax e-filing portal and register as a taxpayer if you haven't done so already.
3. Log In to Your Account
- Log in to your account using your PAN as the user ID and your chosen password.
4. Choose the Appropriate ITR Form
- Select the ITR form that corresponds to your income sources and other criteria. Commonly used ITR forms for individuals include ITR 1 (Sahaj), ITR 2, ITR 3, ITR 4 (Sugam), ITR 5, ITR 6, and ITR 7.
5. Prepare Your Income Tax Return
- Fill in all the required details in the ITR form, including your income, deductions, and tax payments.
6. Validate Your Return
- Validate the details entered in the ITR form to ensure accuracy and completeness.
7. Submit the ITR Form
- After validating the return, submit it on the income tax e-filing portal.
8. E-Verify the ITR (if required)
- After filing the return, you may need to e-verify it using any of the available methods like Aadhaar OTP, Net Banking, Demat Account, Bank Account, or EVC (Electronic Verification Code).
9. Receive Acknowledgment
- After successful e-verification, you will receive an acknowledgment known as ITR-V (Income Tax Return - Verification) on your registered email ID.
10. Print and Preserve ITR-V
- Download the ITR-V and keep a copy for your records. If you have e-verified the return, there is no need to send a physical copy of the ITR-V to the Income Tax Department.
Filing income tax returns using your PAN is mandatory for all taxpayers in India. Ensure that you file your returns accurately and within the specified due date to comply with tax laws and avoid penalties.
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