15 May 2019
#FinancialBytes: How to file income tax returns (ITRs) online?
Income tax accounts for a major part of the government's revenue and salaried individuals form a significant chunk of the overall taxpayers in the country.
Filing income tax returns (ITRs) on time every year is very important. The e-filing (electronic filing) of income tax returns has been made mandatory for all salaried individuals.
Here's everything you want to know about filing ITRs online.
List of documents required for e-filing of ITRs
Before filing ITR online, one must ensure that they have all the required details and documents for the same.
These include bank account details, PAN information, salary income details, rent receipts for claiming HRA, Form 16, and pay slips. One should also have details of their house property income, home loan interest certificate, capital gains, and other income sources if any.
Visit e-filing portal; log in or register for e-filing account
To start the process of ITR e-filing, one needs to visit the income tax e-filing portal (incometaxindiaefiling.gov.in).
On the website, new users should first register themselves to create an account for filing the income tax return.
However, existing users can log in to their account using their PAN as the login ID and then enter their password.
How to begin the process of ITR e-filing?
After logging in to their e-filing account, users can view their dashboard. They need to click on the "e-File" option in the menu and select Income Tax Return to begin the process.
Next, they need to enter their PAN, choose the Assessment Year, select the correct ITR form, choose the "Prepare and Submit Online" Submission Mode, and select an option for e-verifying the ITR.
How to fill the ITR form?
In the next step, users can find the general instructions filling the ITR form.
It has five categories: General Information, Computation of Income and Tax, Tax Details, Taxes Paid and Verification, and 80G.
Under each category, users need to fill in the required information using the documents/details mentioned previously. Next, they must review the information they have provided and proceed to the next step.
Next, submit the form and e-verify the return
After filling the form, users should click on the "Preview & Submit" tab to file the ITR. Next, they should e-verify their return after which they will receive the ITR-V acknowledgment on their registered email ID; the acknowledgment is also available in their e-filing account.
- Financial Bytes
- Financial Services
- Income Tax
- Income Tax Deductions
- Income Tax Department
- Income Tax Returns
- IT Returns
- ITR Deadline
- ITR Filing
- Assessment Year
- Form 16
- General Information
- Income Tax Return
- Submission Mode
- Submit Online
- Tax Details
- Taxes Paid