A method for solving the time-dependent Schrödinger equation (TDSE) describing the electronic motion of the molecules exposed to very short intense laser pulses has been developed. The time-dependent electronic wavefunction is expanded in terms of a superposition of field-free eigenstates. The field-free eigenstates are calculated in two ways. In the first approach, which is applicable to two electron systems like H 2 , fully correlated field-free eigenstates are obtained in complete dimensionality using configuration-interaction calculation where the one-electron basis functions are built from B splines. In the second approach, which is even applicable to larger molecules, the field-free eigenstates are calculated within the single-active-electron (SAE) approximation using density functional theory. In general, the method can be divided into two parts, in the first part the field-free eigenstates are calculated and then in the second part a time propagation for the laser pulse parameters is performed. The H 2 molecule is the testing ground for the implementation of both the methods. The reliability of the configuration interaction (CI) based method for the solution of TDSE (CI-TDSE) is tested by comparing results in the low-intensity regime to the prediction of lowest-order perturbation theory. Another test for the CI-TDSE method is in the united atom limit for the H 2 molecule. By selecting a very small value of the internuclear distance close to zero for the H 2 molecule, Helium atom is obtained. The results in this united-atom limit are compared to the existing results for Helium atom. Once the functionality and the reliability of the method is established, it is used for obtaining accurate results for molecular hydrogen exposed to intense laser fields. The results for the standard 800 nm Titanium-Sapphire laser and its harmonics at 400 nm and 266 nm are shown. The results for a scan over a wide range of incident photon energies as well as dependence on the internuclear distance are presented. The photoelectron spectra including above-threshold-ionization peaks is also demonstrated. The CI-TDSE results for H 2 are used for testing the validity of SAE approximation. In strong field physics, there are models based on the SAE approximation. Most popular are the Ammosov-Delone-Krainov (ADK) model, a molecular version of the ADK model called MO-ADK (MO stands for molecular orbital) and the strong field approximation (SFA). The validity of the second method for the solution of TDSE in SAE approximation is investigated by applying it to H 2 molecule where the exact two-electron results were already calculated using CI-TDSE. The SAE method uses density-functional-theory (DFT) for the description of field-free eigenstates and is thus abbreviated as DFT-SAE-TDSE. Since DFT is used for the calculation of field-free states, different functionals were also tested. The validity of MO-ADK model is also investigated. After establishing the DFT-SAE-TDSE method, the first excited state B 1 Σ + u of H 2 is studied over a large...