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Here’s Your Guide How to File ITR Online

22 Nov 2019 4 min read
News: How To File ITR Online

Internet being the lifeline of every activity these days, have made life simpler and assessible from far and wide. Unnecessary hassles of commuting and doing rounds of government offices, are reduced to minimum. Now everyone  can file Income Tax Return digitally, except senior citizens aged 80 and above.

Filing Income Tax Return indicates you are a responsible citizen. It is the moral and social duty of every responsible citizen to file Income Tax Return annually.

The amount we pay as tax, helps determine the amount and means of expenditure of citizens.

Here is the step by step guide how to file ITR online.

Arrange for the documents before attempting to file the Income Tax Return. Below mentioned are the documents necessary to file the ITR.

  • Form 16- For a salaried person form 16 is an important document to file ITR. An employer is required to issue the TDS (Tax deducted at source) certificate to the employee, if TDS is deducted from the salary.

Form 16 consists of two parts, Part A and Part B Part A has all the details about the tax deducted by the employer during a year from the salary. Also, it has details of PAN and TAN (Tax Deduction and Collection Account) number of the employer. Part B consists of details of gross salary break up such as exempt allowances.

Ensure to match the PAN number mentioned in the form 16, with that of the one given to you by the Employer. Any discrepancy on it should be immediately notified to the employer. will rectify the mistakes and issue you a revised form. A revised form, will be issued to you after rectification, by your employer.

  • Interest certificates from the post office and banks- ITR forms should specify the source of interest incomes, that is earned on savings account, fixed deposits, and any other incomes.

The interest income received is taxable in the hands of the individual. However, an individual can claim deduction up to Rs 10,000 under section 80TTA on the interest earned from the savings account with the bank and post office. Senior citizens can claim deduction of up to Rs 50,000 on the interest income earned from the deposits held with banks or post office.

If for any reason interest certificates is not issued, make sure the passbook is updated showing details of interest credited to your account.

  • Form 26AS – Alternatively Form 26AS can be called as your consolidated annual tax statement. It has all the details of the taxes that has been deposited against your PAN. These include
  1. TDS deducted by your employer.
  2. TDS deducted by Bank.
  3. Advance taxes deposited by you during the chosen financial FY.
  4. Tax Deducted (TDS) by other organization from payments made to you.
  5. Self-assessment taxes paid by you.

You should ensure all the taxes deducted in the chosen financial year are reflecting against your PAN in form 26AS. In case of any mistake, it should be rectified immediately.

  • Tax saving investment proofs – You can get the benefits of deduction on your taxable investments and expenditure.  During the chosen financial, under 80C, 80CCC and 80CCD1 can help you lower your tax liability. Maximum liability which can be claimed under these three sections combined cannot exceed Rs.1.5 lac in a financial year.

To initiate the proceedings of filing Income Tax Return you will have to

  1. Register yourself to the website https://incometaxindiaefiling.gov.in . if you haven’t done so yet, register it immediately. Once your account is created, you can login to the account with your PAN Card Number.

P.S While creating your user ID, you should ensure you should have an active Email Id and mobile number. Login to the account with user ID, Password, Date of Birth/Date of Incorporation and fill the captcha code.

  1. Proceed to e-file and click on “Upload return”.
  2. Select the files to upload in xml formats using the upload button.
  3. If applicable, upload digital signature certificate (DSC).
  4. Proceed to the submit button.
  5. On successful submission, ITR-V would be displayed (if Digital Signature Certificate is not used). Proceed to click on the link and download ITR-V. On the registered email, the ITR-V will be sent. The filing process will be complete, if Income Tax Return will be uploaded with DSC.

If return is not uploaded with DSC, the ITR-V form should be printed, signed, and submitted to Central Processing Centre within 120 days of the e-filing. The return will be processed only upon receipt of signed ITR-V. You will have to keep a tab for emails, or SMS for reminders, on non-receipt of ITR-V.

With the above steps, uploading of the ITR is completed.

Follow the below steps to Prepare and Submit Income Tax Return Online

  1. Login to the e-filing website, with registered username and password.
  2. Click on e-file and head to “Prepare and Submit ITR online”. (Only ITR 1 and 4S can be filled online).
  3. Select the ITR Form1/ Form4S and the Assessment year.
  4. Fill the required details and click on submit button.
  5. Upload digital signature, if applicable. (Ensure that the DSC is registered with e-filing).
  6. Click on “Submit” button.
  7. On successful submission, ITR-V would be displayed (if Digital Signature Certificate is not used). Proceed to click on the link and download ITR-V. On the registered email, the ITR-V will be sent. The filing process will be complete, if Income Tax Return will be uploaded with DSC.

If return is not uploaded with DSC, the ITR-V form should be printed, signed, and submitted to Central Processing Centre within 120 days of the e-filing. The return will be processed only upon receipt of signed ITR-V. You will have to keep a tab for emails, or SMS for reminders, on non-receipt of ITR-V.

This ends the process of preparing and submitting the Income Tax Return Online. Now at the drop of hat, you are ready to perform your most important duty, simply by few clicks. All you need is a good internet connection. Now that you know, the pre- requisites of filing ITR, be a responsible citizen and pay your taxes on time. It will assist in growth of our economy.