Do it yourself-Income Tax return filing by salaried employees-ITR1 - Professionals - Taxation - TIK Share
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Do it yourself-Income Tax return filing by salaried employees-ITR1


Rahul Rai

2015-07-11

Income Tax Return (ITR) is very easy to file by salaried employees. You can do it yourself. Details are not much complicated to file your own return.

You do not need any professional help to file your Income Tax Return, if your income is only from Salary and TDS was deducted. However even if TDS was not deducted, you can pay the tax online and file your return.

Procedure to file your tax return (ITR1 by salaried employees)

First create your account at Income Tax portal, your user Id will be your PAN.

Once the account is created, you are ready to file your return.

Prequisites to file return (ITR1 for employees)

Form 16 given by employer along with salary details

Software (explained down in detail)

Bank details

Form 16 will be given by your employer, you can check the form for total taxable income and TDS deducted.

Software is available on income tax website, you can either download the excel file or Java utility. You can also file the return directly using income tax website. You need to login to your account and select ITR-1. You can file your return directly.

I will recommend to file using income tax website or Java utility. You can use prefill button in Java utility to prefill the basic details along with details of TDS deducted.

Using the form, fill your basic details if you are using Excel utility. Fill your salary details available in form 16.

Check the TDS deducted details, these should match with your TDS details in form 16.

Fill the bank details and general information. Upload your return or submit it online if you are filing using income tax website.

The aknowledgement will be generated, take print and post it to Income Tax CPC center. Address is provided in bottom of aknowledgement.

CA Pulkit Sharma

2015-07-11

Few things not to avoid while filing your return:

Majority of your income consist of salary but there are other incomes which get ignored most of the time. For example, Interest in Saving account and Interest on Fixed Deposits.

Before filing check your Bank statement if you have any interest credited in your account. Also check the FD statement.

FD interest can located in your form 26AS, which can be downloaded from Income Tax site.

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