ITR Filing for Salaried in Mumbai

Step 1: Gather Essential Documents for ITR Filing
Start by collecting all necessary documents such as Form 16, PAN card, Aadhaar, salary slips, Form 26AS, Annual Information Statement (AIS), and investment proofs under Sections 80C, 80D, 80G, etc. These are vital for ensuring accurate and smooth ITR filing, especially for salaried employees in Maharashtra.

Step 2: Select the Appropriate ITR Form (ITR-1 Sahaj)
Most salaried individuals in Maharashtra should opt for ITR-1 (Sahaj), unless they have additional sources of income like capital gains, property, or foreign assets. Choosing the correct form streamlines the filing process and avoids complications.

Step 3: Log in to the Income Tax E-Filing Portal
Visit https://www.incometax.gov.in theUse your PAN-based credentials to access your account and initiate the online ITR filing process for Maharashtra.

Step 4: Verify Form 26AS and AIS Reports
Download and review your Form 26AS and AIS to confirm TDS payments, interest income, and high-value transactions. Accurate verification helps in proper income reporting and avoids discrepancies.

Step 5: Enter Income and Deduction Details
Fill in details such as your gross salary, HRA, standard deduction, leave travel allowance (LTA), bank interest, and eligible investments under Sections 80C, 80D, and 80G to maximize deductions and reduce taxable income.

Step 6: Calculate Tax Liability or Refund
Utilize the built-in tax calculator to determine your total tax payable or refund amount. This ensures your ITR calculation aligns with your income tax slab and prevents errors.

Step 7: Submit Your ITR Electronically
After reviewing all entries, submit your ITR online through the e-filing portal. Double-check for errors to prevent notices or processing delays.

Step 8: E-Verify Your Return
Complete the e-verification using Aadhaar OTP, net banking, bank EVC, or Demat account. E-verification is a mandatory step to finalize your ITR submission in Maharashtra.

Step 9: Monitor Your ITR and Refund Status
Post-submission, regularly check the ‘ITR Status’ section on the portal to track your return’s processing progress and monitor the status of your income tax refund.