How To File Income Tax Return Online?

New Delhi: The last date of filling Income Tax return (ITR) is December 31st and reports indicate that government is unlikely to extend the date anymore.

However, whether the government will extend the date or not that the remains with the government. But one should know the process of filling income Tax returns.

So, let's dive into the topic and have a look at the procedure which one needs to follow while filing ITR.

Visit the portal:

Firstly, one needs to visit the Income Tax Department portal (www.incometaxindiaefiling.gov.in) for e-filing returns. If someone has already registered themselves on the portal in that case they can only use their Permanent Account Number (PAN), which will serve as the user ID.

Appropriate ITR form should be downloaded:

After login, one need to Download appropriate form and for that one needs to go to e-filing under the relevant assessment year and select the appropriate Income Tax Return (ITR) form. Download ITR-1's (Sahaj) return preparation software if you are a salaried individual.

Enter Form 16 details:

Here one needs to open the return preparation software (excel utility) that one have downloaded, follow the instructions and enter all details from your Form 16.

All relevant Tax Details should be computed:

One after entering the details, one needs to compute tax payable, pay tax and enter relevant challan details in the tax return. If ones do not have a tax liability, you can skip this step.

Confirm the above details:

Confirm the details entered by you and generate an XML file, which is automatically saved on your computer.

Submit return:

Once the XMl file is created, go submit return section and upload the XML file.

Digital signature:

You can digitally sign the file on being prompted. If you do not have a digital signature, you can skip this step

Confirmation from ITR verification:

After successfully e-filing, a message confirming same will be flashed on your screen. The acknowledgement form - ITR-Verification is generated and the same can be downloaded. The same will be emailed to your registered email id.

E-verify Return:

You can e-verify the return through bank ATM, Netbanking, Demat Account Number, Registered Mobile Number & E-mail id. Notably, the E-verification saves you from sending a physical copy of the ITR-5 acknowledgement to CPC, Bengaluru.

After filling the ITR, the income tax verification form is generated by the tax department so that taxpayers can verify the validity and legitimacy of e-filing. Interestingly, these are applicable only if you have filed your returns without a digital signature.

Meanwhile, if anyone wants to calculate income tax online then in that case he or she can use Income Tax Calculator. A Income Tax Calculator is an online tool through which one can asses their tax liability as per the tax laws.

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