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.

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Suresh

How to file income tax returns online in India

Suresh KP

158 comments

  1. Wow, I filed my returns online for the first time with success 🙂 Great information Suresh. Thanks a lot.

    1. Good to hear Aravinth. BTW what do you do and how are you planning your investments. Can you share couple of articles on your facebook which you feel are good. It may be useful for your friends who may be searching for this info.

  2. Hi Suresh

    You seem to give amazing help for all those seekers.

    My Query: I am not working due to health reasons and have fd's(7 lac appx) placed in some banks for which I have received a tds certificate. 

    Do I need to file returns still.

    last year i could not file them as my health was really bad and missed it.

    Please advice me the best.

    1. Rajesh, If you have income less than Rs 5 lakhs and TDS is deducted correctly you need not file IT Return. This would be optional in such case. But it would be always good to apply for ITR so that it would be useful in future in case you take any loan.

  3. Hi Suresh,

    I filed IT returns for last year (2012-2013) where I need to receive Rs.5000/- as refund. I did not get back my refund yet. Do I need to file the returns again this year.

    Please help.

    1. Hi Jaya, The return what you filed last year could be 2011-12. Currently year is 2012-13 which you need to file. Your last year return may be filed for tax refund which it would take 12 to 18 months time to get the cheque. Please file the return for 2012-13 also.

  4. Hi Suresh,

    Thanks for sharing this valuable information. I have income on house property and I am not sure how to take deduction for the property taxes paid and also is there any standard deduction before arriving taxable income, please?

    Please let me know.

    Thanks in advance

    Murali

     

     

     

    1. Murali, Income from house property is computed as below

      Rent received (a)

      (-) municipal tax (b)

      Net annual value (NAV) = (a) minus (b)

      (-) 30% standard deduction in NAV (d)

      (-) interest paid on house loan (e)

      Net income from house property = NAV minus (d) minus (e)

      1. Thank you very much for your detailed reply, Suresh.

        ITR 1&2 does not show any columns to enter municipal tax deduction and also 30% standard deduction. I am not sure should I be using a different form. Please advise how to show municipal tax and standard decution on ITR 1 or 2, please.

        Appreciate your help and thanks again

        Murali

         

         

          1. Thank you Suresh,

            I was looking into income tax website and actually I see House property schedule in ITR-2, probably this is the correct form to be used. Anyway  I will wait for your new article.

            1. Also is there any limitation on maximum refund amount that can be direct deposited? I heard more than Rs 50,000 income tax dept only sends cheque. is that correct?

            2. Does it makes any difference givining overseas address vs local address and if overseas address is given, will the income tax dept mail refund checks (incase they don't do direct deposit) to overseas address?

            Please let me know.

            Thank you so much for your time and answering everybody's questions.

            Murali

             

             

          2. Murali, As per my knowlege there is no such limitation of Rs 50,000. I don’t think there would be any issue if you specify your current address as overseas address.

        1. Dear Murali

            In ITR 1 there is no option to put in municipal taxes paid for the let out house,but in ITR 2 Schedule House_Property in row 1g there is the option "taxes paid to local authorities" there u have to write the taxes paid to municipal authority and if you put in the rented value and taxes automatically in row 1f 30% deduction is calculated.

          1. Thank you Suresh and Arnab for your inputs. Yes I see ITR-2 has schedule house property and understand this is the correct form for let out property.

            btw, usually approximately how long it takes to get the refund, please?

            Thanks again

            Murali

             

          2. Murali, if you are looking for tax refunds, it would take upto 18 months. You can get it any time before this time

          3. Hi Suresh,

            I am able to file my tax return online successfully as per your steps. Thank you very much for all your help and thanks to Arnab as well.

            Murali

             

             

  5. Dear Suresh,

    I am serving as a consultant in a pvt industry. My annual salary is 396,000/- is subjected to 10% tds on my monthly salry. My question is can I be eligible for getting refund of my tds amt. what are other deductions allowed by IT in the IT retuRerns. which ITR that is to be used.  I have used IT_R -1 and shown this income under other income. Is this correct. Kinldy elaborate for my  above   issues

    Regards,

    M Veerabhadrappa

    9676990707

     

    1. Veerahadrappa, There is a wonderful answer in Yahooanswers. I do not want to credit on this. Please check this link. http://in.answers.yahoo.com/question/index?qid=20080616223138AAMb5FS

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