ITR Filing: Are you filing tax under the New Tax Regime? How to save your money, this is the easiest way..
The new tax regime has become the favorite of all taxpayers. Because in this, no tax has to be paid on annual income up to Rs 12 lakh. If you also want to file ITR under the new tax regime and your salary is more than Rs 12 lakh annually. So you can save tax in these ways.
How to save your tax?
You can also claim deduction under some sections and sections in the new tax regime.
First, you will be given a standard deduction of Rs 75,000 in the new tax regime.
Any taxpayer can claim a deduction under section 80CCH.
By investing under NPS, you can claim tax savings under section 80CCD (2).
On the other hand, if a person is physically challenged, then he can claim a tax deduction under section 57 (iia).
Along with this, you can also claim a tax deduction under Section 24.
Step by Step Process
Step 1- First of all, go to the official website of Income Tax.
Step 2- Now you will get the option of e-file here, click on it.
Step 3- Then click on the Income Tax Returns.
Step 4- Now select Assessment year and Mode of Filing here.
Step 5- Enter 2024-25 in the Assessment year and choose the option of Online in the Mode of Filing.
Step 6- Now choose one of the three different options, Individual, HUF, and Others, for Status Applicable.
Step 7- After this, select your ITR type. Here you will be given the option of 7 different ITR forms.
Step 8- Now you have to choose why you want to file ITR.
Step 9- After this, you will be asked for information like personal information, total income, total deduction, and tax paid. Fill it carefully.
Step 10- Finally, you have to e-verify; this step is very important. You can e-verify ITR with the help of Aadhaar OTP, EVC, and net banking etc.
Disclaimer: This content has been sourced and edited from Dainik Jagran. While we have made modifications for clarity and presentation, the original content belongs to its respective authors and website. We do not claim ownership of the content.
