Do You File Your Tax Returns by Yourself?

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Do you file your tax returns by yourself?

The last date to file the belated return for AY 2020-21 has expired. You cannot file the return for AY 2020-21 unless the income tax department requires you to file the same by issuing a notice. However, you can file the ITR for AY 2021-22 up to 31st December 2021 by registering on the e-filing portal. The taxpayer has to do preparatory work before filing the income tax return to file the income tax return. Evaluate your income sources to find out which ITR Form is applicable. The government has specified seven ITR forms for FY 2020-21. ITR forms ITR-1, ITR-2, ITR-3 and ITR-4 are applicable for individuals. Collect and collate data to consolidate all the sources of income. For instance, you can collect a bank account statement, interest certificates, capital gains reports from the broker, Form 26AS and Form 16/16A. From FY 2020-21 onwards, the individuals and HUF can choose between the new and old tax regimes. The new tax regime offers concessional tax rates. Whereas in the existing tax regime, the taxpayer can benefit from various exemptions and deductions. Individuals opting for a new tax regime for the FY 2020-21 should not forget to file Form 10IE. After computing the income tax liability, the taxpayer should deduct prepaid taxes from the total income tax liability to calculate the net tax liability. One should pay the income tax dues before filing the income tax return. Once done with all the above basic requirements, you can file ITR-1 through the Black app by Clear. Download Black to file your returns in a hassle-free manner. Do follow our space - ClearTax- Simplifying Finance to get all your finance questions answered.

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Enter the details and click on the button. You will then have to fill in your Permanent Address details and your user identification information and click on “Activate Account” to successfully activate and start e-filing. Your personal details such as PAN, Aadhaar number, tax ID number, etc. will be verified, your transaction ID (if any), and contact details will be displayed on screen.   If you have already registered yourself through the portal, then simply register yourself again.   If you have not registered yourself through the portal, then register yourself by following the steps given above. Click on your desired User Type and click on “Register Yourself”. Please note that the user must have the same PAN number as the one registered. Next, click on “Logged in”, and then enter the personal details given in step 4. Please note that the personal details provided in step 4 should be the same as the.