Filing your income-tax returns in the new portal? Here’s a simple step-by-step guide

This is the first assessment year when you will have to indicate the tax regime you have chosen

December 31 - the extended due date for filing income tax returns for the assessment year 2021-22 (financial year 2020-21) - is just over a month away and the income tax return-filing process this time is vastly different from earlier years due to a host of reasons.  For one, the new income tax return filing portal – which was in the news for all the wrong reasons – is now up and running. The process flow is significantly different compared to last year. Also, this is the first assessment year when you will have to indicate the tax regime you have chosen. Salaried tax-payers can switch between the two tax regimes even at the time of filing returns. That is, if you had chosen the old tax regime while submitting your investment proofs to your employer, you can shift to the new regime and vice-versa. You will also need to factor in dividend income earned through mutual funds or stocks this year.

Steps to file returns

Here’s a simple-to-use guide to filing returns for salaried tax-payers through the official e-filing portal this assessment year.

-Ensure that you keep your key documents – last year’s returns, bank account statements, Form-16 and Form 26AS  – at hand before you start the process. You will have to refer to these while keying in the details

-Visit the new portal – www.incometax.gov.in – and register yourself if you haven’t already. Your PAN will act as your user ID.