How to File Income Tax Return for Salaried Employees Online

In India, the most important thing after getting a salary is filing income tax returns. Unfortunately, and due to this reason, many people need clarification about how to file income tax return for salaried employees online. So here we are to provide you with all the necessary details about how to file income tax return for salaried employees and also discuss new income tax rules for salaried employees. With the help of this article, you’ll gain more profound knowledge about how you can step up with all reforms of the income tax department.

An Overview of How to File Income Tax Return for Salaried Employees Online

With the help of a resume, we can learn more about the process of income tax return for salaried employees online.  

Formation	1961
Time of payment	April 1st – 31st March
Age of individual   Up to 60 years of age   In the middle of 60 years to 80 years of age   Above the age of 80 years	Amount of income   2,50,000 INR   3,00,000 INR     5,00,000 INR

Income tax applies to every person. However, every individual has to pay income tax. If you’re a regular salaried employee with no other income source, then your income tax will be low. However, if someone has more sources of income than his job, they have met the income tax requirements. The timing for paying the income tax usually starts from the 31st of July of the financial year.

Steps on How to File Income Tax Return for Salaried Employees Online?

As we have mentioned before about the people who can file income tax return for salaried employees online now, we will provide you with information about how to file income tax return for salaried employees online.

Step 1: Visit the Website

To know how to file income tax return for salaried employees online, You have to visit the online portal of the income tax department for further work.

Step 2: Sign up

Later under how to file income tax return for salaried employees online, you have to sign up in the online portal with all essential documents, and if you are already an active user, you have to log in through the doorway through the help of your user ID ( PAN ), password, and CAPTCHA code. Signing up is necessary to get all the essential information regarding your income tax returns.

Step 3: Choose the Type of ITR

Once you sign in, you have to click on the ‘ income tax returns ‘from the upside of the site. The employees are given a choice to choose their ITR form from the site. There are three types of ITR – ITR -1, ITR – 2, and ITR -3. So choose according to your requirement.

Step 4: Continue

An option of ‘ Original ‘ tells us about the revised return. If you select, then you agree to this option. Then click on the button ‘ continue ‘ for further steps.

Step 6: Provide Information

Now you’ve to fill out the form of ITR with all the essential information. There should be no bluff in the information as a person can face various problems by filling wrong information.

Step 7: Save

Click on the ‘ save the draft ‘ button to see your submission form again, and if there are any mistakes while filling out the form, you can even correct them.

Step 8: Compute all Taxes

Then compute all the tax payable, and after that, you can pay your tax with both online or offline mode.

Step 9: Recheck

Recheck all the information inside the submission form, and after that, you can click on the button ‘ submit.’

Step 10: Confirmation

Once all the information is filled in, you’ll get a message the confirmation.

Step 11: Documents

Essential documents for how to file income tax return for salaried employees online while submitting the form are Aadhaar OTP, bank account number, demat account number, registered mobile number, net banking, bank ATM, etc.

Computation of Income from Salary

Every person has a different and varied salary structure depending on the type of work he is doing. You have to pay the tax, and it’s up to you whether you want to spend it with the old method or new income tax rules for salaried employees. However, given table, we’ve discussed the computation of income by the old tax regime.

S.no.	Particulars	Sec. Ref.	Amount
1.	Basic salary, advanced salary, arrears of pay, etc.	17 (1)	Xxx
2.	Bonus		Xxx
3.	Fees/ Commission		Xxx
4.	Gratuity		Xxx
5.	Pension		Xxx
6.	Leave encashment		Xxx
7.	Allowances  Dearness allowance House rent allowance Leave travel concession Exempt – transport allowance in case f blind or deaf or dumb or orthopedically handicapped person Perquisites – valuation by rule 3 Rent free accommodation Interest-free loans/loans at concessional tariffs of interest to employees Employee stock option plan/ scheme Motor card facility Club facility Contribution to a superannuation fund Use of flexible asset gifts from employer Profit instead of salary Voluntary retirement compensation Retrenchment compensation Contribution to provident fund Interest credited to PF Gross salary Deductions under the head salary Standard deduction Entertainment allowance for the government Profession tax/tax on employment Income under the head salary Deduction under chapters Total income chargeable to the tax	17 (2)                             17 (3)                   16(a) (ii)   16( iii)	Xxx

The Income Tax Rate on Income Range

Every income tax rate has a particular income range which you need to understand before being an income taxpayer:

Income range	Income tax rate
Up to 3,00,000 INR	Nil
3,00,000 INR to 6,00,000 INR	5% on income which exceeds 3,00,000 INR
6,00,000 INR to 9,00,000 INR	15,000 INR + 10% on income more than 6,00,000 INR
9,00,000 INR to 12,00,000 INR	45000 INR + 15% on income more than 9,00000
12,00,000 INR – 15,00,000 INR	90,000 INR + 20% on income more than 12,00,000 INR
Above 15,00,000 INR	1,50,000 + 30% on income more than 15,00,000 INR

 Read More: Tips to Save Income Tax for Salaried Person

Conclusion

Being a stable salaried employee is challenging as you must look after the tax regime and pay it promptly. However, many people have made various misconceptions in their minds about how to file income tax return for salaried employees online. N this article, we have discussed all the essential points of how to file income tax return for salaried employees online and the new and old tax rules for salaried employees. I hope this topic understand and clear now to everyone.

How to File Income Tax Return for Salaried Employees Online – FAQs

What is the maximum tax exemption for salaried employees?

Ans. The maximum tax exemption for salaried employees is 50,000 INR based on a standard deduction during the financial year.

How much TDS is deducted from salary?

Ans. The TDS of about 20% plus 4% is deducted from the salary. The TDS is obtained after estimating the tax liability of an employed person under the employer during the financial year.

How much income is tax-free?

Ans. Under how to how to file income tax return for salaried employee, we have mentioned that Income of about five lakhs is tax-free.

What are the three types of allowance?

Ans. Three types of allowance are – non-taxable, partially taxable, and taxable.

What is the complete form of HRA salary?

Ans. The complete form of HRA salary is House Rent Allowance. It is one of the components of salary which is added to the basic salary. It is usually mentioned in the salary slip.