How to File ITR (Income Tax Refund) for Fiscal Year 2022-23 with Deadline and Steps

In one of his interviews, the Revenue Secretary of India, Sanjay Malhotra, revealed that the deadline to file for Income Tax Returns (ITR) for the fiscal year 2022-23 is July 31, 2023. He advised people to file their ITR at the earliest without expecting any date of extension. Here is how you can file your ITR online,

Steps to e-file ITR-1

1. First, visit the official Income Tax Department website at https://www.incometax.gov.in/iec/foportal and log in using your PAN/Aadhaar and password.
2. From the menu, navigate to E-File > Income Tax Returns > File Income Tax Return to initiate the filing process.
3. On the website, choose the relevant assessment year (2023-24 for FY 2022-23) and select the mode of filing as ‘online.’ Click ‘Continue’ to proceed with the online filing process. If you have a JSON file generated from the department’s utilities and want to upload it, you should select the mode of filing as ‘offline.’
4. After selecting the assessment year and mode of filing, choose your status as “Individual” and click ‘Continue’ to proceed with the filing process.
5. In the next step, from the dropdown menu labeled ‘ITR Form,’ select ‘ITR-1’ to proceed with filing your Income Tax Return.
6. While filing Income-tax Return, it is mandatory in certain situations even if an individual’s total income does not go beyond the maximum exemption limit. Select the appropriate reason for filing the Income-tax Return and click ‘Continue’ to proceed with the filing process.

The next page will have 5 sections that need to be filled in:

(a) Personal Information: Provide your personal details, such as name, address, PAN, Aadhaar number, and contact information.

(b) Gross Total Income: Enter your income details from various sources, including salary, house property, interest, and any other income.

(c) Total Deductions: Mention the deductions you are eligible for under various sections, such as 80C (for investments), 80D (for medical insurance premiums), etc.

(d) Tax Paid: Report the details of any tax already paid, such as TDS (Tax Deducted at Source) or advance tax.

(e) Total Tax Liability: Calculate your total tax liability after deducting applicable deductions and taxes already paid.

Verification of Return

After successfully completing the filing process, the next crucial step is to verify the filed ITR. It is essential to verify the return within 30 days of filing; otherwise, it will be considered invalid. The Income-tax Department initiates the processing of the return only after its verification.

• Verification of an income tax return can be done using various methods:

• Digital Signature Certificate (DSC): You can digitally sign the return using a DSC to verify its authenticity.

• Electronic Verification Code (EVC): EVC can be generated through various methods like net banking, bank ATM, or the income tax department’s e-filing portal. It is a one-time code that verifies the return.

• Aadhaar-based OTP: You can verify the return using a One-Time Password (OTP) sent to the mobile number linked with your Aadhaar.

• Physical Verification: In certain cases, taxpayers may choose to physically sign and send the ITR-V (Income Tax Return Verification) to the Centralized Processing Centre (CPC) within 120 days from e-filing.

Q. How to Check Income Tax Refund Status?

A. Here is what you need to do:

• Open the portal and go to My Account > Refund/Demand Status
• In Dropdown menu select Income Tax Returns and click on Submit
• Locate your acknowledgement number
• A new webpage will open to show your details of ITR filed including the Refund status