The Process to file Income Tax Returns (ITR) by using the internet is called E-filing. The process to e-file ITR is quick, easy, and can be completed from the comfort of an individual’s home or office. E-filing ITR can also help in saving money as you would not have to hire an individual to file ITR.
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.
A step-by-step Guide on How to Login or Register on the e-filing portal
Step 1: Visit the e-filing website https://www.incometax.gov.in/iec/foportal
Step 2: Register or Login to e-file your returns
- In case you have registered yourself on the portal earlier, click on the ‘Login’ Here’ button.
- In case you have not registered yourself on the portal, click on the ‘Register’ Yourself’ button.
Step 3: Click on ‘Taxpayer’ and then enter the details of your PAN and click on ‘validate’. Next, click on ‘Continue’.
Step 4: Provide details such as your name, address, gender, residential status, date of birth, etc.
Step 5: Provide your Email ID and registered mobile number.
Step 6: Once the form has been filled up, click on ‘Continue’.
Step 7: You will have to verify the details following which a 6-digit One Time Password (OTP) will be sent to your registered mobile number and Email address.
Step 8: Enter the OTP follow the instructions given to complete the registration process successfully.
Step 9: Once the OTP has been verified, a new window will open where you will have to verify the details provided by you. In case any detail given is incorrect, you can change it, following which another OTP will be sent to validate the change.
Step 10: The final step will be set up a password and secure login message.
Step 11: Click on ‘Register’ following which you will receive an acknowledgment message stating that the registration process has been completed successfully.
A step by step Guide on How to e-file Income Tax Returns on the Portal
Calculate your income tax liability as per the provisions of the income tax laws.
Use your Form 26AS to summarise your TDS payment for all the 4 quarters of the assessment year.
On the basis of the definition provided by the Income Tax Department (ITD) for each ITR form, determine the category that you fall under and choose an ITR form accordingly.
Follow the steps mentioned below to e-file your income tax returns using the Income tax e filing portal:
Step 1: Visit the official Income Tax e-filing website and Click on the ‘Login’ button.
Step 2: Next, Enter Username then Click continue and After enter your Password.
Step 3: Once you have logged into the portal, click on the tab ‘e-file’ and then click on ‘File Income Tax Return’.
Step 4: Select the Assessment year for which you wish to file your income tax returns and click on ‘Continue’.
Step 5: You will then be asked whether you wish to file your returns online or offline. In this case you need to choose the former which is also the recommended mode of tax filing.
Step 6: Choose whether you wish to file your income tax returns as an individual, Hindu Undivided Family (HUF), or others. Choose the option ‘individual’.
Step 7: Choose the income tax returns (ITR) you wish to file. For example, ITR 2 can be filed by individuals and HUFs who don’t have income from business or profession. Similarly, in case of an individual, they can choose the option ITR1 or ITR4. Here you will have to click ‘Proceed with ITR1’.
Step 8: The next step will ask you the reason for filing your returns above the basic exempted limit or because of the seventh provision under Section 139(1). According to the section, if the aggregate amount deposited by an individual exceeds Rs.1 crore in one or more current accounts during the year, exceeds Rs.2 lakh on a foreign trip, or if a payment of more than Rs.1 lakh is paid on electricity bills, then the person can file their income tax returns. Make sure you choose the right option.
Step 9: Fill in the details of your bank account. If you have already provided the details of your bank account, then pre-validate it.
Step 10: You will then be directed to a new page to file your income tax returns. The page will contain a lot of information filled already. Check them make sure all the details mentioned are correct. Confirm the summary of your returns and validate it.
Step 11: The final step is to verify your returns and send a hard copy of if to the Income Tax Department. The verification process is mandatory.
Guide on how to file ITR offline for Super Senior Citizens
Super senior citizens (individuals who are 80 years old and above) are given the option to file ITR offline during the financial year. Another instance where the ITR can be filed offline is if an individual or HUF has an income of less than Rs.5 lakh and is not entitled to receive a refund.
The step-by-step procedure to file returns offline is mentioned below:
- Individuals must request for a Form 16.
- Next, you will need to submit the ITR returns in the paper form at the Income Tax Department.
- Once the form has been submitted, you will receive an acknowledgement slip from the Income Tax Department.
FAQs on How to file ITR
1. What is the offline method to file ITR?
A taxpayer can file ITR offline with the help of upload XML method.
2. What is the manually procedure to file ITR offline?
The taxpayer wants to Choose and Download the right Income Tax Form. Fill in all necessary details and convert the file to XML Format. Upload XML file in IT portal and Choose one of the available verification modes Aadhaar OTP, EVC or sending a manually signed copy of ITR V to CPC.
3. What are the different forms that are available as per the Income Tax Law?
The different forms that are available as per the Income Tax Law are ITR1, ITR2, ITR3, ITR4, ITR5, ITR6, ITR7 and ITR-V.
4. Should I attach any documents when I file the Income Tax Returns?
No, you need not submit any documents when you file the Income Tax Returns. However, the relevant documents must be retained and must be provided to tax authorities if requested.
5. Does the Income Tax Department provide the e-filing utility?
Yes, the e-filing utility has been provided by the Income Tax Department. The e-filed returns can be generated, and then be furnished electronically.
6. What is the difference between e-payment and e-filing?
The process of electronically furnishing the returns is e-filing. E-payment is the payment of tax online by using State Bank of India’s debit/credit card or by net banking.
6. Will I face any criminal prosecution in case the tax returns for my taxable income is not filed?
Yes, in case the tax is not paid, you may have to pay additional interest, penalties, or may face prosecution. Depending on the amount of tax that must be paid, the prosecution will vary.