How to File ITR in Delhi: A Step-by-Step Guide for 2024

Insights by CA Adda - Income Tax Return or Tax Consultant in Delhi

Filing your Income Tax Return (ITR) in Delhi doesn't have to be a taxing experience! CA Adda simplifies the process for the Assessment Year 2024-25 (Income for Financial Year 2023-24) with this step-by-step guide.

Demystifying ITR Filing in Delhi: A Step-by-Step Approach

1. 1. Gather Your Documents:

   • Form 16 (Employer Provided): This verifies your salary income and deducted taxes.
   • Form 26AS (Tax Information Statement): Download it from the Income Tax Department website. It summarizes your tax deductions and transactions.
   • Bank Statements: Use these to verify your income sources and investments.
   • Investment Proofs: Keep records of investments like PPF, ELSS mutual funds, etc., for claiming deductions.
   • Property Documents (if applicable): If you own property, gather documents related to rent received or property tax paid.
   • Proof of Income from Other Sources: This could include freelance income receipts, capital gains statements, etc.

2. Select the Right ITR Form:

   The Income Tax Department offers various forms. Here's a quick guide for common scenarios:

   • Salaried Individuals (with house property income): ITR-2
   • Salaried Individuals (without house property income): ITR-1
   • Business or Profession: ITR-3
   • Capital Gains: ITR-2 or ITR-3 (depending on the nature of gains)

3. File Your ITR Online:

   • Visit the Income Tax Department's e-filing portal (https://www.incometax.gov.in/iec/foportal/).
   • Login using your PAN and password.
   • Navigate to "e-File" and select "Income Tax Return."
   • Choose the Assessment Year (2024-25) and your filing status (individual, etc.).
   • Select the ITR form based on your income sources.
   • The portal might pre-fill some information based on Form 16 and 26AS. Verify and edit if necessary.
   • Enter details of your income from various sources, deductions claimed, and taxes paid.
   • Review the ITR summary and ensure everything is accurate.
   • Submit the ITR electronically.

4. E-verify Your Return:

   E-verification is mandatory to complete the ITR filing process. You can e-verify using:

   • Aadhaar OTP
   • Net Banking
   • EVC received via registered post

Remember

• The due date for filing ITR for most salaried individuals is July 31st, 2024.
• For complex tax situations, consult a CA Adda professional for personalized guidance.
• Claim all eligible deductions to minimize your tax liability.

By following these steps and adhering to deadlines, you can ensure a smooth ITR filing experience in Delhi for Assessment Year 2024-25. Now go forth and conquer your ITR! - Visit - www.CaAdda.com