Online FORM for ITR Filling FY(2023-2024) available from 1st April, Know here the last date for filling.

ITR Filling FY(2023-2024) : The Indian Income Tax Department has started providing online forms for Income Tax Returns (ITR) for the financial year 2023-24. This began on April 1, 2024. People who need to file their taxes can now use these forms to do so before the deadline.

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Please read the complete article to know details about ITR Filling FY(2023-2024) online and offline.

Online FORM for ITR Filling FY(2023-2024) available from 1st April 2024

The income tax return forms, namely ITR-1, ITR-2, ITR-3, and ITR-4, for the financial year 2023-24 (Assessment Year 2024-25), can now be filed online on the Income Tax department portal or offline. These online ITR forms became available on April 1, 2024. Taxpayers who are eligible to file their tax returns can now log in to the portal and complete their ITRs for the financial year 2023-24 using these forms. It’s important to note that the last date for filing income tax returns for the financial year 2023-24 (Assessment Year 2024-25) is July 31, 2024.

FORM ITR-1,ITR-2,ITR-3,ITR-4 for filling FY(2023-2024), know which is yours 

There are several types of ITR forms, each designed for different individuals, businesses, and companies. Let’s discuss four commonly used forms: ITR-1, ITR-2, ITR-3, and ITR-4.

  1. ITR-1 (Sahaj): This is the basic form for individual taxpayers with a total income of up to Rs 50 lakh. It covers income from salary, one house property, and other sources like interest, family pension, etc. It also includes agricultural income of up to Rs 5,000. The people with income from outside India, owning assets abroad, or tax deducted under section 194N cannot use this form.
  2. ITR-2: This form is for individuals and Hindu Undivided Families (HUF) who are not covered under ITR-1. It is applicable if the person/HUF does not have income under the head Profits, Profession, or Gains of Business.
  3. ITR-3: Individuals or Hindu Undivided Families with income under the head “profits or gains of business or profession” and not eligible to file ITR-1, ITR-2, or ITR-4 can use this form.
  4. ITR-4 (Sugam): ITR-4 is for individuals, Hindu Undivided Families (HUFs), and firms (excluding LLPs) with total income up to Rs 50 lakh. It applies to those with income from business and profession, computed on a presumptive basis. Additionally, it covers income from salary/pension, other sources (interest, dividend, etc.), and one house property.
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ITR Filling FY(2023-2024)

How to do ITR Filling FY(2023-2024) Online 

Filing your income tax return online is the easiest and most convenient option available. Here’s a step-by-step guide to complete the process:

  • Go to the  Portal: Visit the official income tax e-filing portal. –
  • Register or Login: If you’re new to the portal, you’ll need to register using your PAN card details. For existing users, you can log in with your ID and Passwords.
  • Select “File Income Tax Return”: Once you’re logged in, navigate to the e-filing section and choose the option to file your ITR.
  • Choose the Assessment Year (AY): Next, select the assessment year for which you’re filing the return. Like, For the fiscal year 2023-24, the assessment year is 2024-25.
  • Select the Correct ITR Form: Based on your income sources and profile, choose the appropriate ITR form. Remember, we discussed earlier which form suits different situations.
  • Fill in Your Details: The portal will guide you through entering your income details from various sources, deductions, taxes paid, and other relevant information. Make sure to provide accurate information to complete your ITR filing.

You may easily file your income tax return online and take care of your tax duties by following these easy steps.

How to do ITR Filling FY(2023-2024) Offline

If you’re not comfortable filing your income tax return online, you can do it offline. Here’s a step-by-step guide to complete the process:

  • Download ITR Utilities: First, visit the Income Tax Department’s website and download the required ITR utilities. These are tools available in Excel or JSON formats that help you fill out your return offline.
  • Fill in the Offline Utility: Once you have the utility downloaded, use it to input your income details and draft your ITR offline. Take your time to fill in all the necessary information accurately.
  • Upload the details: After you’ve completed your return offline, you’ll need to upload the data file to the income tax e-filing portal for submission. –
  • Verification: Just like with online filing, you’ll need to electronically authenticate your return for verification purposes. This can be done using Aadhaar OTP, net banking, or EVC.
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Remember to gather all the essential documents before you begin filling out your ITR offline. This includes Form 16 (if applicable), bank statements, investment proofs, and any other important documents. Having everything ready will make the process smoother.

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