ITR Filing for AY 2023-24: In the financial year 2022-23, 14,65,641 ITRs for Earned Income were filed till May 28, out of which more than 12 lakh returns were verified while 3834 verified ITRs were processed.
Till the time of writing this information, this information has been received from the website of the Income Tax Department. Salaried employees will be able to file their returns for assessment year 2023-24 soon after receiving Form 16 from their employers by June 15.
What is ITR-1?
Tax filing season has started, so the steps given below will be very useful for salaried taxpayers. Most of the salaried employees will be eligible for ITR-1 (Sahaj). ITR-1 is filed by those who receive income from salary, one house property and other sources like interest etc. with income up to Rs 50 lakh.
You can file ITR by following these steps
- Visit the Income Tax e-filing portal https://www.incometax.gov.in/iec/foportal/
- Login to e-filing portal by entering User ID (PAN), Password, Captcha Code
- Click on the menu ‘e-File’ and then click on the link ‘Income Tax Return’
- After filling all the details, click on ‘Continue’.
- In this step, read all the instructions carefully and fill the mandatory fields of the online ITR form. Also, click on ‘Save Draft’ button to avoid data loss due to session time-out.
- Check the total income, deductions, taxes paid and tax liability (if any) thoroughly to ensure maximum tax benefit.
- Submit your ITR after this. An OTP will come on your mobile. Verify your filing by entering it.