In the dynamic city of Delhi, it can be a difficult task for individuals as well as businesses to file Income Tax Return. But before moving ahead with online ITR Filing in Delhi, you should have the proper knowledge about the Income Tax & Income Tax Return. Income Tax is a direct tax that public paid to the government of India. It has been imposed on the individuals as well as businesses by CBDT i.e. Central Board of Direct Taxes. It is important for all the taxpayers to file ITR online.
Income Tax Return is a form that has been used by the public for the declaration of their income. In other words, Income Tax Return is a self declaration form that has been used by the public to declare of their income. If we talk about Income Tax Return Filing, it is the process by which taxpayers (individuals as well as businesses) can report about their income, deductions, and credits to the government. Tax authorities use this information to calculate the amount of tax payable or the refund due. It is essential to file the ITR accurately and on time to avoid penalties and legal issues.
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Who is eligible to file ITR Online in Delhi?
Online ITR Filing is not essential for everyone. Income Tax Department has set the eligibility criteria for ITR filing. The taxpayers can decide whether they need to file ITR or not. If a person does not meet the eligibility criteria of ITR Filing online, then they can file a ‘NIL’ ITR. However, ITR filing online is must for those who satisfy any of the given conditions. You can also get a clear picture of the eligibility criteria with the help of CA near me for ITR filing. Here are the applicable conditions-
- If your total income is more than the basic exemption limits of either 2.5 Lakhs, or 3 Lakhs, or 5 Lakhs depend on the taxable limit applicable to you.
- If you pay the electricity bills of more than Rs. 1 Lakh then you must have to file the ITR.
- If you have deposited an amount of over 1 Crore in your current bank accounts in a financial year, then tax filing is must for you.
- If an amount of more than Rs. 2 Lakhs has been spent by you for travelling internationally to foreign country in a financial year, then you are required to file the ITR.
- If you have assets in foreign countries or have a source of income from outside the country, or have signing authority for any account outside the country, then you must have to file an ITR.
- If TDS/ TCS (Tax Deducted/ Collected at Source) from the individual is Rs. 25,000/- or more.
This is the eligibility criteria for online ITR Filing. You can also seek the expert guidance of ITR Filing consultants to get a clear picture of the eligibility criteria of filing ITR. So, the taxpayers have to file the ITR as per the given eligibility criteria.
Last Date to File ITR Online in Delhi
The Income Tax Return Last Date for FY 2023-24 will be 31st July 2024. However, for the taxpayers who have been required to conduct an income tax audit and have business income, ITR Filing last date in Delhi will be 31st October 2024. This date will remain as it is until government has extended it.
Procedure to File ITR Online in Delhi
In the dynamic city of Delhi, ITR Filing Online is very crucial. Taxpayers in Delhi should file their ITR to fulfill their social responsibility towards the nation. The process of ITR filing includes a number of steps. Here, in this section of blog, we will provide you the step-by-step guide to ITR Filing. The steps include in this process are as given below-
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Step 1: Official website of e- filing
Firstly, you have to visit the official website of e-filing portal of income tax return.
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Step 2: Register/ login to the e-Filing Portal
After that, you have to register/ login to the e-filing portal. If you are the first time user you have to register yourself. And if you are the repeat user you have to log in to the website-
- You have to enter your PAN as your user id and then click ‘Continue’.
- You have to check the security message give in the tick box.
- Then, you have to enter your password & click on the ‘Continue’ button.
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Step 3: Select the option of ‘File Income Tax Returns’
After logged in, you will see the e- file menu on the menu bar. When you click on e – file menu then, you will get the option of ‘Income Tax Returns’ on clicking which you will see the option of ‘File Income Tax Return’ and you have to click on that option.
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Step 4: Select the assessment year
Then, you will be redirected to the page of Income Tax return where you have to select the ‘assessment year’ and the ‘mode of filing’ for which you wish to file the income tax return and then you have to click on ‘Continue’.
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Step 5: Select the status
Then, you need to select the status of filing ITR among Individual, HUF or other and click on ‘Continue’.
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Step 6: Select the Appropriate ITR Form
After that, you have to choose the correct ITR Form as per your financial situation to proceed and then fill the form with all the required details including Personal Information, Gross Total Income, Total Deductions, Tax Paid, Total Tax Liability, etc.
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Step 7: Reason for filing ITR
Then, you have to choose the reason of filing the ITR. You can select the correct option among the given options that has been applicable to your situation-
- Taxable income is more than the basic exemption limit.
- Meets specific criteria & compulsory requirement of filing the ITR
- Others
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Step 8: Submit bank account details & other information
After that, you have to add your bank details. If already submitted, then you have to make sure that it has been pre- validated. You have to review the correctness of pre- filled information that has been appeared on the new page.
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Step 9: Tax Computation summary
Your screen will displayed the summary of the tax computation according to your given information and you will get to know if you have to pay any tax or you are eligible for a tax refund. Then, you have to enter the place of your residence to preview and submit your ITR.
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Step 10: e- verification of ITR
E- Verification of ITR is the most crucial step. Your Income Tax Return will be incomplete until you verify it. You have the option to e – verify the ITR via Aadhaar OTP, Net banking EVC i.e. Electronic Verification Code or by sending a physical copy of ITR to CPC Bengaluru.
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Step 11: Submission of ITR
At last, you have to click on ‘Submit’ button to submit your ITR. After submission you will get the acknowledgment from the Income Tax department at your given email id.
These are the steps involved in the process of online ITR Filing. To understand the process of ITR filing, you can seek the expert guidance of ITR Filing consultants or can simply search “CA Near Me for ITR Filing” to make the process of filing ITR more convenient for you.
Documents Required to File ITR Online in Delhi
There are some essential documents that have been required at the time of online ITR Filing in the dynamic city of Delhi. It will be better to keep these documents handy for a hassle-free filing of ITR. Here are the necessary documents-
- PAN i.e. Permanent Account Number
- Bank Account Details along with IFSC Code
- TDS Certificate or Form 16/ 16A
- Balance Sheet (if applicable)
- Profit & Loss Account (if applicable)
- Details of the Taxpayers
- Savings Certificate
- Form 26AS
- AIS/ TIS
Why Legal Pillers is Best to File ITR Online in Delhi?
In the dynamic city of Delhi, there are numerous options are available to file Income Tax Return. Among the several options Legal Pillers stands as the premier choice of the taxpayers in Delhi to file ITR. Here, in this section of blog, we will tell you why Legal Pillers is best for filing ITR online.
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Maximize Tax Refunds
Legal Pillers will help you in maximizing your tax refunds. Our professional team of experts will tell you about all the possible ways that reduce your tax liability.
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Minimize Stress
With Legal Pillers, you will get the peace of mind. Our team is there to handle everything and reduces your stress, you just stay relaxed.
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Secure and Reliable
Sometimes people thought that online platform is not secure. Legal have a completely secure & reliable online platform as your privacy is our priority. You can stay calm making sure that your sensitive information is in safe hands.
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Save Time and Effort
Our dedicated team of professionals has the exceptional expertise in filing ITR. Our top notch services will save your time and effort so that you can focus on growing your business.
Here are some major reasons why you should choose Legal Pillers o file ITR your ITR. You can find us on Google by simply search “CA near me for ITR Filing”. Our dedicated team of professionals has the expertise in filing ITR online. Find Legal Pillers for your better financial future.
Final Words
It is very crucial to file Income Tax Return in the dynamic city of Delhi. You can move towards a better financial future with proper & timely Income Tax Return Filing. For a hassle free filing you can seek the expertise of ITR Filing consultants like Legal Pillers. Legal Pillers is the top choice for filing ITR online in Delhi. When you find Legal Pillers by your side, you will get the maximum refunds, secured and reliable platform, and time efficiency. So what are you waiting for? Just enjoy the financial peace of mind knowing that your taxes are in safe hands.
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