Identify your sources of income under different Income Heads.
Keep Documents Ready


Before filing Tax you should know which documents you need to keep in hand in order to find out your tax-amount. You should identify the sources of income and place them under the right income heads.
 
Compute the gross Total Income (GTI)


Add up your earnings from the five income heads to arrive at total taxable income. To get your total taxable income, you will have to subtract the standard tax deductions (Section 80) from the gross income.
 
Step 4: Calculate deductions


Add up all your Section 80C and non-80C deductions and minus it from your gross total income.
 
Calculating Total Taxable Income


To get the Total Income on which the tax is to be paid reduce the total deductions from the gross total income. The income from house property and capital gains are taxable.


Finding your tax rates

Individual taxpayers are categorized as General, Women and Senior Citizens. Identify your category and check out your tax liability according to the tax slab applicable for assessment year 2010-11 or financial year 2009-10
Choosing the correct income tax return (ITR) form.


Based on your income sources, you need to choose your ITR form. Once the documents and the calculations are done, the process of filing tax enters the final phase.

Filing returns

Subtract your TDS from the tax liability that you computed earlier to ascertain if you are still to pay any taxes. If you still have a tax liability, get hold of Form 280, fill it up and deposit it in any bank along with the tax payable in cash or cheque before filing your returns.