Individual Income tax return can be filed online or offline.
As per income tax Act, Individual is included in the definition of a person as per section 2(31).
Individual means a natural human being.
First, you are required to find out that whether you are need to file the income tax return or not.
As per Income tax act an Individual is required to file income tax return when the total income before allowing chapter VI-A deductions exceeds the minimum amount not chargeable to tax.
Chapter VI-A deductions includes deductions u/s 80C to 80U. It covers all deductions like LIC, mutual fund, FD, educational loan, Housing loan etc.
The minimum amount not chargeable to tax is given in the income tax slabs.
Even if the total income does not exceed the amount not chargeable to tax, Individual can still file income tax return voluntarily.
So individual income tax return can be filed voluntarily.
Voluntarily filing of income tax return add to your wealth since you are disclosing your income to the income tax department so every penny earned or wealth created becomes white/legal.
Once you are sure that you are need file income tax return, choose the mode of filing i.e online or offline.
In offline filing, Individual need to file the physical copy of ITR with income tax office which is time taking and it is difficult to trace your ITR once you have filed it.
In online filing you need to login to income tax website and file your return within minutes. You can also trace your return afterwards
You must also be aware of the income tax return due dates applicable for individuals.
The due date of ITR for individual is 31st July of the assessment year. For example if you have earned income in the year 2015-16, then year 2015-16 is your financial year and assessment year 2016-17. So 31st july 2016 will be last date of filing of return.
Individual can also file late return after 31st July. The time given is one year form the end of assessment year. In the above example you can file income tax return for year 2015-16 by 31st March 2018 with interest.
Individual should also aware of the advance tax payment due dates and its applicability on you.
Once you filed income tax return you need to check its status.
After filing of income tax return you will receive the intimation u/s 143(1) regarding the processing of your ITR.
You can also ask your query related to individual income tax return through comments.
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