Filing online Income Tax returns in India
Filing online IncomeTax returns is a necessity for all. E-filing is a system for submitting tax
papers to the site. Tax preparation software with e-filing capabilities
includes stand-alone programs or websites. Simply stating, e-filing or
digitally filing is submitting your ITR
Filing online. There are two ways to file your income tax returns. The
usual way is the offline way, where you go to the Income Tax Department’s
office to physically file your returns and second method is income tax return filing.
To upload ITR, i.e., IncomeTax Returns, there are few steps to be followed.
● Download
the ITR preparation software for the related assessment year to your
desktop/laptop from the “Download’s” page.
● Prepare
the Return using the downloaded Software.
● Collect
all the information regarding your income, tax payments, deductions, etc.
● Pre-settle
the individual details and tax payments or TDS by clicking on the “Pre-fill”
button.
● Compare
with the information you have to ensure that nothing is left out.
● Enter all
the appropriate data and click on “Calculate” to compute the tax and interest
liability and final figure of Refund or Tax payable.
● If Tax is
payable, do not forget to pay instantly and enter the details in the proper
schedule.
● Recur the
above steps so that tax payable becomes zero.
● Create
and save the Income Tax Return data in XML format in the desired path or place
on your laptop/ desktop.
● Login to
e-filing website with- User ID, Password, Date of Birth or Date of
Incorporation and enter the Captcha code.
● Go to
e-file and click on “Upload Return”.
● Select
the appropriate ITR, Assessment Year and XML file previously saved in the steps
mentioned above, using the Browse button.
● Upload
Digital Signature Certificate (DSC), if applicable.
● Please make
sure that the DSC is registered with e-Filing.
● Click on
the “Submit” button.
● On
successful admittance, ITR-V would be displayed if DSC is not used.
● Click on
the link and download the ITR-V.
● ITR-V
will also be sent to the registered e-mail.
● If ITR is
uploaded with DSC, the Return Filing process is complete.
● And when
the return is not uploaded with DSC, the ITR-V Form should be printed, signed
and submitted to CPC within 120 days from the date of e-Filing.
● The
return will be processed only upon the receipt of signed ITR-V.
● Please confirm
your e-mails or SMS for reminders on non-receipt of ITR-V.
● Upload
Income Tax Return procedure is complete now.
Only ITR’s 1 and 4S can be filed online.
Please ensure that the DSC is registered with e-Filing.
This ends the process of preparing and submitting ITR Filing online by Taxpayer.
One is to download the application IT form, fill, save and
then upload it. Another is filing the online. Only ITR 1 and ITR 4 forms, filed
by the individual taxpayers, can be filled online without downloading any
software. There are two ways you can file your income tax return (ITR) online.
E-filing is now compulsory for individuals and Hindu
Undivided Families whose accounts have to be audited under Section 44AB of the
Income Tax Act,1961. For companies, e-filing with digital signature is
mandatory. You can also use the tax return preparation worksheet provided on
the IT department website.
One basic benefit of using e-filing is speed. For instance,
when filing your tax income, using the internet and emailing tax forms directly
to the IRS will only take a few minutes.
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