Income tax returns are no longer a hassle to file. Tax-filing deadlines are no longer plagued by long lines and endless anxiety. Online filing, also called e-filing, allows you to file returns from the comfort of your own home or office.
The following are the steps you need to take to file your income tax returns online:
|
Steps |
Step |
Guide To File ITR Online |
| 1 | Go to the portal and log in | To file returns online, visit the Income Tax Department’s portal (www.incometaxindiaefiling.gov.in). Your Permanent Account Number (PAN) will serve as your user ID when you register. |
| 2 | ITR forms can be downloaded here | Go to e-filing under the relevant assessment year and select the appropriate Income Tax Return (ITR) form under ‘Download’. ITR-1’s (Sahaj) return preparation software is available for salaried individuals. |
| 3 | Details should be filled out on Form 16 | Enter all the details from your Form 16 into the Return Preparation Software (excel utility) that you have downloaded. |
| 4 | Calculate all relevant tax details | Calculate taxes due, pay taxes, and enter challan details in the tax return. You can skip this step if you do not have a tax liability. |
| 5 | The above details need to be confirmed | Upon confirmation of the details entered by you, an XML file is generated and saved to your computer automatically. |
| 6 | Returns must be submitted | You can upload the XML file in the ‘Submit Return’ section. |
| 7 | Signatures digitally | When prompted, you can digitally sign the file. This step can be skipped if you do not have a digital signature |
| 8 | Verification of ITR confirmation | Your screen flashes with a message confirming successful e-filing. ITR-Verification acknowledgement form is generated and can be downloaded. Also, it is emailed to your registered email address. |
| 9 | E-verify Return | E-verification can be done using any of the six methods below: 1) Netbanking, 2) Bank ATM, 3) Aadhaar OTP, 4) Bank Account Number, 5) Demat Account Number, 6) Registered Mobile Number & E-mail ID. By using e-verification, CPC, Bengaluru is no longer required to receive a physical copy of the ITR-5 acknowledgement |
Informing the Income Tax Department of your income and taxability will help you stay in compliance with the law and prevent any financial barriers. Once you know whether you must file your ITR annually, you need to ensure that you complete the process before the deadline.