Income Tax e Filing

Filing your income tax returns is now easier than ever with the convenience of e-filing, which is done completely online. This is not only safe but also easier and quicker than visiting the Income Tax Office to file your returns. It is mandatory to file your income tax returns( ITR) as a dutiful citizen of India and e-filing can make doing this possible right from the comfort of your own home.

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Note: You can now file your taxes through the New income tax portal. The new portal comes with a plethora of features and is designed to ease the tax filing process.

Procedure to Follow for e Filing ITR Online 2021

There are a few things that you will have to take care of before you start filing your ITR. Follow the steps mentioned below to e-file your ITR on the updated portal:

  • Step 1: Calculate your income tax liability on the basis of the provisions prescribed by the Income Tax rules.
  • Step 2: Refer to your Form 26AS to get a summary of your TDS payment for the different quarters of the assessment year.
  • Step 3: Determine the category that you will fall under on the basis of the eligibility criteria provided by the Income Tax Department (ITD).
  • Step 4: Visit the e-filing portal of the income tax department at e-Filing Home Page, Income Tax Department, Government of India (https://eportal.incometax.gov.in/iec/foservices/#/login).
  • Step 5: If you are a new user, you can register using the ‘Register’ button.
  • Step 6: If you have already registered yourself, click on the ‘Login’ button.
  • Step 7: Click on the ‘e-file’ tab followed by the ‘File Income Tax Return’ option.
  • Step 8: Choose the category that you fall under from – individual, Hindu Undivided Family (HUF), and so on.
  • Step 9: Choose the suitable ITR Form that is applicable to you.
  • Step 10: Enter the details of your bank account or pre-validate the same if you have already provided the same earlier.
  • Step 11: You will be redirected to a new web page wherein you will be able to check the pre-filled details of your ITR. Check the details and make changes if required. Once you are sure that all the details provided in the form are correct, confirm the same and validate it.
  • Step 12: Once the process is complete, verify the returns and send a hard copy of the same to the ITD.

Eligibility for Income Tax e-Filing

Under the conditions given below, it is mandatory for individuals to file ITR:

  • Any firm or company must file ITR even if they make a profit or undergo a loss.
  • In case individuals wish to apply for a loan or a visa.
  • In case individuals invest in foreign assets or earn from foreign assets.
  • In case individuals wish to claim a refund from the Income Tax Department.
  • In case individuals earn an income from house property, etc.
  • If the gross annual income of the individual exceeds the details mentioned in the table below:
Age of the individuals Gross annual income (Rs.)
Individuals who are below 60 years old 2.5 lakh
Individuals above the age of 60 years but below the age of 80 years 3.0 lakh
Individuals who are above the age of 80 years 5.0 lakh

Note: You need not to file income tax returns if your annual income is not taxable.

Documents required for Income Tax e-Filing

In case individuals wish to file ITR online, the below-mentioned documents will be required:

  • The Permanent Account Number (PAN) of the individual.
  • The Aadhaar number of the individual. The Aadhaar number must be linked with the PAN.
  • The bank account details (bank account number, IFSC code, and bank branch) of the individual.

In case individuals file their ITR based on their salary, the below-mentioned documents are needed:

  • Form 16
  • In case House Rent Allowance (HRA) is being claimed, the rent slips must be given.
  • Salary Slips

In case individuals wish to claim deductions, the below-mentioned documents are required:

  • Proof of income such as capital gains income and house property income.
  • Any details about investments that are liable for deductions.
  • Details of home loans and insurance
  • Deposit account and savings account interest certificates.

Income Tax e-Filing Due Date

Income Tax Returns (ITR) are required to be filed before the deadline that is marked by the Income Tax Department (ITD). The due dates for filing of ITR for different categories of taxpayers for the financial year 2020-21 are listed in the table below.

For the FY 2020-21 (AY 2021-22), the due date for Income Tax e Filing of all taxpayers extended to 31 December 2021. .

Category of Taxpayer Deadline for filing tax returns
Individual July 31, 2021
Body of Individuals (BOI) July 31, 2021
Hindu Undivided Family (HUF) July 31, 2021
Association of Persons (AOP) July 31, 2021
Businesses (Requiring Audit) September 31, 2021
Businesses (Requiring TP Report) November 30, 2021

New Rules for Income Tax e-filing

A new income tax structure has been imposed under Union Budget 2020. Under the new structure, various tax exemptions will be removed. However, taxpayers have the option to select the new tax regime or the existing tax regime. Under the new tax regime, the tax rates have been lowered.

Consequences of Filing ITR with Only Aadhaar

In case you do not have a Permanent Account Number, you can file your income tax return using Aadhaar. Furthermore, your Aadhaar Card is mandatory when applying for a new PAN. Under the new income tax rules, taxpayers who file their returns using their Aadhaar card will be allotted PAN after their demographic data has been obtained from the Unique Identification Authority of India (UIDAI).

What happens if your Aadhaar and PAN are not linked?

The Central Board of Direct Taxes issued a notification, in which taxpayers were urged to link their Aadhaar with their PAN before June 30, 2021. Failure to link your PAN with Aadhaar will prevent you from filing your income tax returns after the specified deadline.

The Government of India has introduced the new rule in order to enhance tax compliance while easing the tax payment process for taxpayers. As of now, it is compulsory for taxpayers to quote their PAN when filing their returns. Going forward, however, it will be compulsory to link your Aadhaar and PAN to file your returns.

How to Check Income Tax e-Filing status?

In order to check income tax e Filing status, you can visit the e-Filing home page of the Income Tax department. There are two ways through which the status can be checked. They are mentioned below:

  • Using the acknowledgment number
  • Using login credentials

To check the income tax eFiling status using the acknowledgement number, you need to follow the steps mentioned below:

  • Step 1: Visit the official portal of the ITD at https://www.incometax.gov.in/iec/foportal
  • Step 2: Click on ‘ITR Status’
  • Step 3: Next, enter the PAN, acknowledgement number, and captcha code and click on ‘Submit’

On doing that, the status will be displayed on the screen.

In case, you want to check the status using the login credentials, you will need to login to the e Filing website. After logging in, on the dashboard you will see the option ‘View Returns/Forms’. There, you need to select income tax returns and assessment year from the dropdown menu and click on ‘Submit’. Following that, the status will be displayed.

Benefits of Income Tax Returns e-Filing

The main benefits of efiling Income Tax Returns are mentioned below:

  • Tracking the status: Individuals who efile the ITR can easily check the status online. Earlier, it was time-consuming to check the status and the status would only be sent by post. However, efiling ITR enables the individual to check the progress of the application with ease.
  • Processing of refund: In case individuals efile their ITR, the process to receive the refund is easy and is much quicker. Earlier, the refund process was not very convenient and was very time-consuming. However, individuals can update the bank details online and receive the refund much quicker.
  • Reduction of errors: Due to the number of calculations that must be made when computing ITR, it is common that errors are made. However, when efiling ITR, there is a mechanism where the computation of ITR is done by the system, therefore reducing the number of errors.
  • E-Verification: The verification of ITR can be done online if individuals efile their ITR. Earlier, the ITR would have to be sent to the CPC in Bengaluru.
  • Convenient: The process of efiling ITR is very convenient, easy, and the process takes very less time. Earlier, the process to file ITR was very tedious as individuals had to visit the Income Tax Department. However, the process to efile ITR can be done from the comforts of an individual’s home.
  • Access to documents: In case individuals efile the ITR, they will have to upload the necessary documents online. Therefore, individuals will be able to view the documents at any given time. The manual process of efiling ITR does not provide such benefits.
  • Compilation of records: Earlier, individuals were required to fill many forms in case they wanted to file the ITR. The process to fill the forms was very complex as well. However, efiling ITR removes the complexity of the process as all the data is auto-populated during the initial process and the ensuing steps become very simple.
  • Cost-efficient: In case individuals wish to file their returns manually, they might have to hire a professional to compute their returns. This could cost money in case they wish to hire a professional. However, individuals could do away with these expenses in case they efile their ITR as the computation can be done online.
  • Receipt of proof: Individuals who efile their ITR will receive a receipt at the time of filing returns and once returns have been filed as well. The receipt will be sent via email.
  • Electronic banking: The process to make payments and refunds is simple. It can be done via direct debit for the payment of tax and direct deposit for the receiving of refund. There are options available where investors can file their returns now and make the payment at a later date as well. Taxpayers can choose the day when they would like the payment to be made.

Penalty for late Income tax e-Filing

In case, you miss ITR filing within the specified deadline, the Central Board of Direct Taxes (CBDT) imposes a penalty. The maximum penalty levied for late eFiling is Rs.10,000. The penalty is levied under section 234F.

Income Tax e Filing FAQs

  1. How can I file my ITR electronically?
  2. You can log on to https://www.incometax.gov.in/iec/foportal if you want to file ITR electronically. It is an independent portal launched by the income tax department

  3. How will the excess tax paid by me refunded?
  4. It will be refunded to the bank account or a cheque will be sent once the refund gets processed. you can also check your income tax refund status through efiling portal.

  5. Whom can I contact for rectification and other income tax processing related queries?
  6. In such a case, you can contact the centralised processing centre between 8 am and 8 pm on a weekday.

  7. What is Form 16?
  8. It is a form issued by the employer under section 203 of the Income Tax Act for tax deducted at source (TDS) from income under salary.

  9. In case, I have a query about Form 16 or something related to TDS statement, which helpdesk should I contact?
  10. The TDS reconciliation Analysis and Correction Enabling System also known as TRACES can be contacted in such a case.

News About Income Tax efiling

  • Penalty for Belated ITR Filing

    The deadline for filing income tax returns for the fiscal year 2021-22 was extended till 31 December 2021. Individual taxpayers who miss the31 December 2021 income tax return (ITR) filing date will be required to pay a late fee and file a delayed ITR, according to CBDT standards. The deadline for filing a late ITR has been extended to 31 December this year.

    12 October 2021

  • Date for filing Income Tax returns extended till December 31

    For the second time, the government has extended the last date for filing income tax returns. On Thursday, the deadline was extended till December 31, 2021 after taking into account the pandemic and difficulties reported by taxpayers and other stakeholders in filing of Income Tax returns on the official website. It needs to be mentioned here that in the month of May, the last date was extended till September 30. In a tweet, the Central Board of Direct Taxes (CBDT) informed that the due dates for filing ITRs and Audit reports for assessment year 2021-22 had been extended. Deadline for ITR filing for companies was extended to February 15, 2022 while the last date for filing tax audit report and transfer pricing certificate has been extended to January 15 and January 31 respectively from the existing deadline of October 31 and November 30. The last date for filing belated or revised return of income has been extended till March 31, 2022 from the existing deadline of January 31, 2022.

    10 September 2021

  • New e-filing portal for taxpayers in India

    The Income Tax Department (ITD) of India has recently announced the rolling out of the new e-filing portal. It has been addressed as the e-filing 2.0 portal in the official circulars.

    The ITD has mentioned that a new mobile phone application will be launched soon and the taxpayers will have the convenience of filing their taxes with ease through that. The ITD has also mentioned that the new portal will now have user manuals and videos to guide the taxpayers with step-by-step procedures to help them file their taxes with ease. The new tax e-filing portal will be launched on 7 June 2021. It will also have pre-filled ITR forms to make the experience hassle-free and quick for the taxpayers. The new portal will be rolled out and will replace the old one. Prior to the rollout, the e-filing services will be suspended from 1 June 2021 to 6 June 2021.

    01 June 2021

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