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Income Tax ITR Filing 2024 : Step-By-Step Guide To Register Online For E-Filing

Filing your Income Tax Return (ITR) in India is not only a legal obligation but also provides several benefits for taxpayers. Here are some key advantages: Claiming Tax Refunds: If you’ve paid more tax than required (through TDS or advance tax), filing an ITR allows you to claim a refund. Income and Address Verification: Your […]

Filing your Income Tax Return (ITR) in India is not only a legal obligation but also provides several benefits for taxpayers. Here are some key advantages:

  1. Claiming Tax Refunds: If you’ve paid more tax than required (through TDS or advance tax), filing an ITR allows you to claim a refund.
  2. Income and Address Verification: Your ITR serves as an official document verifying both your income and address. This is beneficial for tasks such as applying for loans, visas, or government tenders.
  3. Loan Applications: Banks and financial institutions often use ITRs to assess your financial status and creditworthiness. Timely filing of ITRs can facilitate smoother approval of loans.
  4. Utilize Loss Carryforward: By filing an ITR, you can carry forward business losses to offset against future income, potentially reducing your tax burden.
  5. Government Benefits: Certain government schemes and scholarship programs may require ITRs as proof of eligibility.
  6. Avoid Penalties: Failing to file your ITR or submitting it late can result in penalties imposed by the Income Tax Department.
  7. Promotes Transparency and Compliance: Filing your ITR fosters financial transparency and helps the government accurately track income and collect taxes.

Steps for Online Registration on the E-Filing Portal

With the deadline for filing ITRs for the financial year 2023-24 (AY 2024-25) approaching on July 31, 2024, it is essential for taxpayers to register on the e-filing portal. Here’s a step-by-step guide for online registration:

  1. Visit the homepage of the Income Tax Department’s e-Filing portal.
  2. On the basic details page, provide all required information such as PAN, name, date of birth, membership number, and enrollment date, then click on “Continue.”
    • If your PAN is not registered on the e-Filing Portal, an error message will be displayed.
  3. Enter necessary details such as your name, date of birth or date of incorporation, gender (if applicable), and residential status as per your PAN card, then click “Continue.”
  4. Once your PAN is authenticated, proceed to the Contact Details page.
  5. Provide your primary mobile number, email ID, and address, then click “Continue.”
  6. You will receive two separate six-digit OTPs on your primary mobile number and email ID. Enter these OTPs and click “Continue.”
    • Note: The OTPs are valid for 15 minutes, and you have three attempts to enter the correct OTP.
  7. On the Set Password screen, enter your password in the “Set Password” and “Confirm Password” fields.
  8. Set a personalized message for the password and click “Register.”
  9. Once successfully registered, click on “Proceed to Login” to initiate the login process.

By following these steps, taxpayers can easily register on the e-filing portal and access the full range of services and resources available.

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