How to e-file Income Tax Returns
Income Tax e-Filing is the process of submitting Income Tax returns online to the Government Tax Authorities in the prescribed format. As per the existing Income Tax Rules in India, e-filing is currently mandatory for most tax assessees and replaces the paper-based process of filing ITR.
Top Income Tax E-filing options in India:
- On the official Income Tax e-Filing in India
- Through a registered online tax filing intermediary
- Through a TRP (Tax Return Preparer), CA or a tax lawyer
Process to e-File ITR on the website of Income Tax Department
Step 1
Visit the Income Tax Department website.
Step 2
Register in case you are a new user or login if you already an existing user.
Step 3
In the “e-File” drop-down menu, select the “Income Tax Return” option.
Step 4
Select the assessment year, ITR form type and submission mode.
Step 5
Select the authentication type from Aadhaar OTP, EVC or send ITR V through post and click on continue.
Step 6
Read the instructions carefully before starting the e-Filing process.
Step 7
Fill Part A: General Information part of the form
Step 8
Now fill the details and compute the Income Tax:
Step 9
You will be able to see Tax Details. Fill the details not entered previously.
Step 10
In the “Taxes Paid and Verification” section, your tax details are mentioned.
Step 11
In the “80G” section of the form, mention all deductions under this section.
Step 12
Select the “Preview and Submit” option to preview your ITR e-filing and to run an automated check of any error that might have occurred.
Step 13
Now “Submit” your form and verify using one of the offline or e-verification methods
Step 14
After e-verification is complete, an acknowledgment will be sent to your registered email address by the Income Tax Department. The following is a sample of the IT Department Acknowledgement after e-verification
Eligibility Criteria for Income Tax E-Filing
It is now mandatory under Income Tax rules to complete income tax e-filing. The exceptions to mandatory e-filing by tax assessee are as follows:
- The income tax assessee is a HUF/individual with annual income from all sources (exempt and not exempt) of up to Rs. 5 lakhs
- The income tax assessee is 80 years of age or older (super senior citizen) for the FY
In both the above cases, income tax returns can be either e-filed or filed using the applicable paper ITR form.
Documents required for E-Filing of the Income Tax
You do not need to attach any documents with your ITR Form unless required to do so by order of the Income Tax Department.
However, the taxpayer must keep some important documents ready with him/her for a smooth e-filing experience. Some key tax documents for easy income tax e-filing are as follows:
- Form 16 (for salaried/pensioners)
- Form 26AS
- Profit and Loss Statement (for businesses/self-employed)
- All investment documents (u/s 80C, 80D, 80E, 80G, etc.)
- Home loan interest certificate, etc.
Process to register e-Filing on the Income Tax Department
Visit Income Tax -E Filing Portal
Select the appropriate ‘User type’ – Individual, HUF, Other than HUF/individual, etc.
Enter your basic details such as PAN, Name, Residential Status and Date of Birth.
Note:
- After registration, the PAN of the taxpayer is the User ID for logging into the Income Tax E-filing Login Portal.
- Fill in the registration form with details such as password, contact numbers, addresses, etc.
- After you have duly filled out the registration form, submit it. Once the registration form is submitted, you will receive a 6-digit One Time Password (OTP) on your mobile number, and email ID.
- For registration verification, enter the OTP sent to your email ID and mobile number.
- In the case of non-residents, the OTP is sent only to their registered email address.
- Also, the OTP expires after 24 hours from the time you had received it. Hence, if you fail to complete the registration process within 24 hours, the entire registration process must be followed again.
How to access your account at Income Tax E-filing Login Portal?
After doing registration on the Income Tax E-Filing portal, one can log in to your account
Steps to follow for Income Tax login are as follows:
- Visit the Income Tax E-filing Login Webpage.
- Enter the required details such as User Id, Password and Captcha Code.
- Once you submit the details, they will be checked with the data available. If the information provided is correct, you will successfully log in to the account.
Advantages of E-filing of Income Tax
E-Filing of income tax returns has been made mandatory by the Government of India. The process is much easier compared to the earlier paper filing process.
The advantages of e-filing of income tax are as follows:
- The last date for filing income tax returns is July 31st every year. If the user files them one or two months before this date, they can complete the task more smoothly with less congestion as servers tend to get overloaded when the final date approaches.
- Online filing of tax returns helps the taxpayer in keeping a record of all the financial transactions with the Income Tax Department in a more effective manner.
- This record can act handy if the taxpayer wishes to carry out a business relationship with any other organization supporting such records in the future.
- If the taxpayer is unable to file income tax returns for the previous year, he is liable to pay penal interest for every extra day till the date when payment is paid. So, advance filing of income tax return saves you from the additional fine.
