ITR filing FY 2023-24: How to register online to e-file income tax return? A step-by-step guide

Submitting your Income Tax Return (ITR) in India is not only a legal requirement but also provides various benefits for taxpayers. Here's an overview of some major advantages:

• Claiming tax refunds: If you've paid more tax than required during the year (via TDS or advance tax), filing an ITR allows you to claim a refund.
• Income and address verification: Your ITR serves as an official document verifying both your income and address. This can be advantageous for tasks such as applying for loans, visas, or government tenders.
• Loan applications: Banks and other financial institutions frequently use ITRs to evaluate your financial status and creditworthiness during the loan application process. Ensuring timely filing of ITRs can facilitate smoother approval of loans.
• Utilize loss carryforward: By filing an ITR, you can carry forward business losses from one year to offset against future income, potentially lowering your tax burden.
• Government benefits: Certain government schemes and scholarship programs may necessitate ITRs as proof of eligibility.
• Avoids penalties: Failing to file your ITR or submitting it late can lead to penalties imposed by the Income Tax Department.
• Promotes transparency and compliance: Filing your ITR fosters financial transparency and aids the government in accurately tracking income and collecting taxes.

Steps for online registration on the e-filing portal

The deadline for filing ITRs for the financial year 2023-24 (AY 2024-25) is quickly approaching. Taxpayers must take note of this and submit their returns by July 31, 2024.

As digital filing becomes more emphasized, registering on the e-filing portal is essential for taxpayers in India. For online registration, you will need your Aadhaar card, PAN card, a valid mobile number, and a valid email ID.

To file their income tax return, first-time filers must first register online. You must first register on the e-filing website to access the entire range of services and resources available through the portal. This comprehensive guide will assist you with online registration:

1. Visit the homepage of the Income Tax department's e-Filing portal.
2. Provide all required information such as PAN, name, date of birth, membership number, and enrollment date on the basic details page, then click on “Continue”.
3. Please note that if your PAN is not registered on the e-Filing Portal, an error message will be displayed.
4. In the next step, you need to enter all 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 proceed by clicking Continue.
5. Once individual taxpayers' PAN has been authenticated, they will proceed to the Contact Details page.
6. Provide your primary mobile number, email ID, and address. Then, click on “Continue.”
7. Two separate six-digit OTPs will be sent to the primary mobile number and email ID provided.
8. You will need to enter the separate six-digit OTPs received on your mobile number and email ID, then click on “Continue.”
9. Please note that the OTP will remain valid for 15 minutes only, and you will have three attempts to enter the correct OTP.
10. Enter your password in the “Set Password” and “Confirm Password” text fields on the Set Password screen.
11. You need to set a personalized message for the password and then click on “Register.”
12. Once successfully registered, click on “Proceed to Login” to initiate the login process.

Once the procedure is complete, update your profile information on the e-Filing portal and log in to gain access to all services. By following the aforementioned steps, you can register on the e-filing portal and benefit from the convenient online process for filing your ITR.