While paying income tax is essential, the filing of the income tax return is equally critical. The Income Tax Department has taken steps to simplify the process of e-filing of Income Tax Return (ITR).

1. How to Master Income Tax Return in
6 Simple Steps
While paying income tax is essential, the filing of the income tax return is equally critical.
The Income Tax Department has taken steps to simplify the process of e-filing of Income Tax
Return (ITR).
E-filing is a simple process of submitting the income tax return if you know the basics. To
master the income tax return filing process, follow these six simple steps.
1. Keep Your Documents Handy
While filing the income tax return, the first things you will need are the proofs of your
earnings and expenditure. You must have your PAN Card, investment documents, TDS
deducted, home loans, children’s tuition fee receipt, and other such documents with you.
To validate or check the tax deducted against your PAN Card, you need to download the
form 26AS. It contains the history of tax amount already submitted by you throughout the
year.
If your income is more than INR 50 lakhs per annum, you need to fill an extra column called
AL. It is a disclosure of your assets and liabilities and its total value.
2. Registration
The second step on your journey to master income tax return is to register on the IT website:
incometaxindiaefiling.gov.in.

2. Provide your PAN Card details, and your birth date in the field allowed. You have to create a
password for signing in. The website uses your PAN Card number as the username.
3. Select Mode of Filing Income Tax Return
The income tax department has two modes of e-filing of the income tax return. The first
method allows you to fill the tax return online through the quick e-file option. If you follow
the second method, you can download the form to your device. Then, you can fill it offline
and upload it to the website.
4. Choose the Right Form
Once you sign in to the website, you have to choose the proper form for e-filing your ITR.
The Income Tax department has specified several forms according to the profession, so you
need to select the one according to your job.
For instance, if you are earning from your salary, pension, or any other interest from property
or bank, you need to fill in ITR-1. ITR-3, 4, and 4S can be filled by business owners or
professionals. Selection of the correct form is essential to avoid the cancellation of your ITR.
5. Details of Bank Account and Other Income
Sources
Some of us may have an additional source of income or multiple bank accounts. Make sure to
upload all the necessary documents disclosing the details of these.
You must also note that if you have deposited more than INR 2 lakhs during the
demonetization period, you need to disclose it too. You also have to explain the source of the
money to the income tax department.
6. Acknowledgment Form or ITR V
After you have filled in all the details and submitted the ITR, you will receive a confirmation
of the same, and a number will be generated. If you have digitally signed your ITR, you need
to preserve the number and take no further action. However, if your form is not digitally
signed, you have to download the acknowledgment form, sign it, and send it to the income
tax department through the physical mail or electronically.

3. Points to Remember
Filing of your income tax gives you a clear insight of your current financial health. When you
master the income tax return process, you can know how much tax you are liable to pay. It
helps you decide on planning your savings or investments that can aid you in securing your
future.