How to file income tax returns (ITR) online in India


How to file income tax returns (ITR) online in IndiaHow to file income tax returns (ITR) online in India

This year, Income tax department has indicated that any individual whose income exceeds Rs 5 lakhs and above has to do e-filing of their income tax returns. Though we would think that a professional CA or a Tax professional can do this, if you can understand the process, you can do this yourself. In this article, we would discuss about how a salary individual can file the income tax returns online.  

Documents to be kept ready before you start the process?

Please keep the documents like PAN card, your previous IT return copy, Form-16 before you start filling the IT returns online.

Also read: How to check income tax refund online

Step-by-step-process on how to file income tax returns online

Step-1: Visit Income tax department site : https://incometaxindiaefiling.gov.in/e-Filing/UserLogin/LoginHome.html

Step-2: If you are already registered, you can proceed for logging into system. Else click on register option and proceed for registration. Once registration is complete, login to website with user ID(PAN number) and password.

Step-3: Check the taxed paid by you. Go to my account -à view tax credit statement (Form 26AS) and provide the assessment year2013-14, date of birth and security code to get these details.

Generally, tax indicated in form-16 and Form 26AS would be same. In such case there are no issues. However in case form-16 shows less tax than what is indicated in Form26AS, it means that you have paid excess tax and to get Income tax refund.


Step-4: Click on downloads option to download the IT return file

  • Click on downloads option
  • Efiling à Assessment year 2013-14 à Individual/HUF à ITR-1 (Sahaj). If you have more than one house property and want to update income from house property or update interest from house property, select ITR-2 as ITR-1 do not have this option.

Step-5: Extract the excel file from the downloaded zip file

  • Click on enable macros active X controls in case they are not enabled in your system.
  • The ITR file would work only on MS-Excel and not on any other applications

Step-6: Fill the excel file with relevant income details, tax paid details and bank details etc., Once you fill the info, click on “Generate” tab. A Pre-XML sheet gets created. Verify that all info is correct and click on “Save XML” option.

Also read: Best Tax Free investments in India

Step-7: Submit the IT returns: Ensure you are logged into the income tax department website. Select my account à Submit Return à assessment year 2013-14. Select whether you want to use digitally signed file in case you already have it, else, say No and proceed further. Click on upload button and you would see process completion message.  If you have done through digital signature, the process is complete. You would get your ITR-V acknowledgement to your mail ID.

Step-8: If you have not submitted your digital signature, you need to download the ITR-V acknowledgement and sign the copy so that IT department knows that this is submitted by you and send a copy of the signed copy to “Income Tax Department-CPC, Post Bag no # 1, Electronics City Post Office, Bangalore – 560 100, Karnataka”. Send the signed document only through normal post of speed post. Do not send it through courier as they would reject it. The ITR-V acknowledgement signed copy should be sent within 120 days after submitting excel (XML) file. The acknowledgement would be received in two weeks time to your email ID from IT Department, Bangalore after this. Once this is done, the process is complete.

Also Read:  Step-by-step process on rectifying income tax return online

Conclusion: Though the process of income tax returns filing online is cumbersome, if we know the step-by-step process, I feel it is easier to do it. In case you have various streams of income like salary, income from business or income from more than one house property, you need to file other ITR’s, hence taking professional help would be a good idea.

If you enjoyed this article, share this with your friends and colleagues through Facebook and twitter.

Suresh

How to file income tax returns online in India


Article by Suresh

Suresh KP i.e. me have written 400+ articles on this blog. I love doing analysis and identifying the Best investment options.

136 Comments

  1. subhash says:

    Hi Suresh

    I forgot to claim rebate for my LIC premium and I have already uploaded the ITR-1 form. Is there anyway for me to correct it.

  2. John B says:

    I switched jobs once in the last financial year. My second employer did not deduct any tax from salary. Now i need to pay apprx Rs. 65,000 as tax on income from second employer.

    1. Do i need to pay tax before efiling ? where do i pay the tax ?

    2. Do i have an option of paying tax while e-filing in the income tax website ? or do i need to pay tax well before i e-file the return.

    • Suresh says:

      John, once you compute your tax liability by considering incomes from both employers and tax already paid, you would get an amount of what you need to pay as tax. Pay this tax first and then file the ITR. No, you would not have any option to pay tax at website while filing.

  3. Dhruv Vora says:

    Please find below site, it is very easy and fast:

    cleartax.in

  4. Santy says:

    Hi Suresh,

    Thanks for the nice post. I had a question regarding the bank interest. Two banks have deducted TDS and the amount is showing up on TRACES. I have received TDS certificate from one bank. Is it necessary to send Form 16A (TDS) along with signed return ? I have an FD with a third bank where the interest is less than 10000 (~9000). Should I include the income of 9000 to my total income ? If yes, should I attach any proof (such as statement) along with return ? Kindly comment.

     

    • Suresh says:

      Santy, It is immaterial whether your FD is in one bank or more than one. Savings interest is tax free upto Rs 10,000. Otherwise, entire FD interest is taxable if it is less than Rs 10,000. As per my knowledge if you fill online, there is no need to attach any document. I am not sure whether there are any upload facility when you file during online. If there is upload facility, you can scan and attach them.

  5. Arnav says:

    Dear Sir,

    when I paid my self assessment tax for AY 2012-13, there was an error in my PAN # on the challan form. This was corrected and after many months it got reflected in Part C of 26AS and that amount is still reflecting in 26AS. Now, I have received a demand note for this amount and when I called the CPC team, they informed me to submit a Rectification request. I have the CPC # and the order date but not sure which option should I select amoung the following three. Please advise.

    1.Tax Payer is correcting data for tax credit mismatch only

    a) TDS on Salary details
    b) TDS on other than salary details
    c) IT details
    - options to provide details of advance tax and self assessment tax payments.

    2.Tax Payer is correcting the data in rectification
    - option to select a Recitifcation reason

    3.No further data correction required. Reprocess the case.
    a) Tax credit mismatch
    b) Gender mismatch
    c) Tax/Interest computation

    Thanks.

     

    • Suresh says:

      Arnav, I do not want to give incorrect info. I do not have much info on how to rectify the issues highlighted by you. Please consult tax auditor who may be specialist in this area.

  6. Vishal says:

    Dear sir, we are required to give certain options for perks at the start of FY. I had opted for LFA/holiday home instead of LFA advance for availment, which was another option available to me.

    Can I still claim exemption u/s 10(5) for amount actually incurred on travel on leave. I notice that in ITR-1 there is no space to provide such detail and if i deduct the amount from my income from salary there is mismatch in income and TDS schedules. I have income from salary, let out house and interest on investments only. Kindly advise.

  7. S.Vaidyanathan says:

    Dear Sir,

    I have received Rs. 1000000 this year as gift from my daughter who is working at US.  How do I declare the same in the tax return form, ITR2.  I believe gifts received from close relatives are exempt from tax. But still I would like to declare the same.

    Regards

    S.Vaidyanathan

     

  8. Sandeep Patil says:

    Dear Sir,

    I worked for Mar- aug,2012 in one firm & with another from Sept 2012 to Jan 2013.

    Now I have received form 16 from both the companies.

    However, Form 16 from second firm shows Gross Salary More than what I received from them. After enquiring, concerned person said, income from earlier firm also shown in the form 16. (they had collected details of salary recd from March to Aug-2012 from me already). Now if I add Gross salary of both form 16, it comes considerably more than what I actually received inthe year. How should i proceed while filing return? pl reply.

    • Suresh says:

      Sandeep. Your second Form-16 would contain the salary paid to you and necessary Tax. Your first company income would only be considered to club and see which tax bracket you would fall. Please check Form-16 propertly where this would get differentiated. You need to consider actual income from 2nd form-16 and actual income from first form-16 and incorporate the TDS deducted by both the companies and finalise. 

Leave a Reply

Your email address will not be published. Required fields are marked *