Filing income tax return is important for you in many ways. For this, you can file through online website or app as well as take help of CA. Apart from this, there is a facility to file ITR for free on the e-tax filing website of Income Tax Department.
How To File Income Tax Return: The month of Lai has started. Slowly the last date for filing ITR is coming closer. The last date for filing income tax return for the financial year 2023-24 is 31st July as always. The data of how many people have filed ITR till now has not been released by CBDT. Till July 31, such people can file ITR whose income is not audited. There are not one but many ways to file Income Tax Return (ITR Filing). The rule of filing ITR in different ways and its cost is also different. Let us know in detail.
ITR filing through CA
Usually, most taxpayers take the help of a Chartered Accountant (CA) to file income tax returns. The CA charges his own fee for this. The CA completes the ITR process on the basis of documents like your Form-16 and Form 26AS. This includes both preparing the return and submitting it. CAs usually charge Rs 1500 to Rs 2000 for such services. The charge for filing ITR can be even higher, depending on how complex your return is.
ITR through online platform
Facility of filing ITR is also available on online platform. For the help of online platform, you can use websites like ClearTax, Tax2Win, TaxBuddy, Quicko or their apps. Through these websites or their apps, you can easily file income tax return. They are also easy to use and their charge is usually less than that of a CA or tax expert. Here, the charge for filing ITR once is between Rs 500 to Rs 1,000. You may have to pay additional charges for some special service.
From the Income Tax Department portal
The most economical way to file income tax returns is to file ITR from the Income Tax Department’s e-filing website. Filing ITR from here is absolutely free, it involves the process of filing ITR through a pre-made template. You can login by entering the PAN card number. After this, you can file ITR using the Income Tax Department’s software. After filing the income tax return, you can submit it online as an XML file. You can verify it using your PAN, Aadhaar card, digital signature or online banking.
Benefits of filing Income Tax Return
Filing Income Tax Return (ITR) every year is beneficial for you in many ways. Its first advantage is that if you have paid more tax, you can get it back by filing a return. Banks also easily give loans to the person who files ITR. Not only this, while applying for visa for foreign travel, preference is given to the person who files ITR. ITR is an important document for many government schemes and subsidies. Even if you want to start a business, you will have to submit income tax return.
