How To E-File Your Tax Returns in

India

E-Filing Considering the ever increasing usage of internet these

days, the Income Tax Department has made the returns

filing procedure easier for taxpayers by enabling electronic

filing of Income Tax returns on

incometaxindiaefiling.gov.in. For a huge number of

taxpayers, this comes across as a very practical option.

Things To

Keep In

Mind

• The last date of filing ITR is July 31st of the assessment year for the

financial year that just ended. So if the financial year 2014-15 is in

consideration, the last date of filing ITR will be July 31st, 2015.

• PAN (Permanent Account Number) is mandatory for any transaction

with the Income Tax Department.

• Since 2013, the Central Board of Direct Taxes (Income Tax Dept.) has

made it mandatory for all individuals to e-file ITR if their annual salary

exceeds INR 5 Lakhs

Types of

ITR Forms

ITR 1

ITR 2

ITR 3

ITR 4

ITR 5

ITR 8

ITR 7

ITR 6

Individuals having income from salary or pension

Individuals and HUFs NOT having income from business or pensionIndividuals and HUFs having partnership in firms but not carrying business under proprietorship.Individuals earning income from proprietorship

For firms, AOP (Association of Persons) and BOIs (Body of Individuals)

Companies (apart from companies claiming exemption under section 11 of IT Act, 1961)

For persons and companies who require to furnish returns under sections 139 (4A), 139 (4B), 139 (4C) or 139 (4D).Return for fringe benefits

Important

Documents

Form 16• This is the income certificate

for the tax deducted at source (TDS) on your income. It is mandatory for an employer to provide a Form 16 to it’s employees when TDS is deducted

Form 16A• This the certificate for TDS

deducted on sources other than income like interest on securities, commissions, professional or technical fees, lotteries etc.

Form 26AS• This is a tax credit statement

that highlights all the TDS paid to the income tax department.

Steps to

E-file Tax

Returns

Option 1

Registration

Register yourself on income tax e-filling website by filling up important details

After registration, you will receive an activation link on your registered e-mail id

Post activation, you will be able to login to your account

ITR Form

• Select & download correct ITR form

• Fill in all the details correctly and cross-check with your Form 16/16A

• Generate XML file & submit it online. Refer Snapshot –

Steps to

E-file Tax

Returns

• The ITR-V Acknowledgment Slip is generated and mailed to your registered e-

mail address. That completes the tax return filing process.

• A Digital Signature Certificate is the digital equivalent of a physical certificate

that authenticates your identity and is used for digitally signing electronic

forms.

• In India, these certificates are issued by various organizations that are

authorized certifying authorities as recognized by CCA (Controller of Certifying

Authorities)

Steps to

E-file Tax

Returns

Option 2: E-filing with Excel Utility (without Digital Signature) -

• The whole process works in the same manner as Option 1 up to the

submission of the XML file.

• Once the ITR V slip is mailed to your email address, you need to take a

printout of the same and sign it.

• Post that, you will need to mail the duly signed ITR V slip to the

Income Tax office address mentioned below -

Income Tax Department CPC, Post Box No.1, Electronic City

Post Office, Bangalore-560100, Karnataka.

Steps to

E-file Tax

Returns

Direct Online Submission -• Open https://incometaxindiaefiling.gov.in/ and logon to your account• Select “e-File – Income Tax Return – Prepare and Submit Online”• Furnish all the details online and submit.• Download the ITR V slip, sign it and mail it to the Income Tax

Department CPC, Bangalore address - The ITR V Acknowledgement Slip is very important when you

have not used Digital Signature Certificate as it allows the Income Tax Department to authenticate your identity and the corresponding tax returns details that you have furnished.

File your Tax Returns on timeThe e-filing option for Income Tax Returns makes it convenient for you to file your returns on time. It is a smart approach to file your returns as soon as you can, if you do not have any pending tax liability for the financial year. It not only saves you from the last moment rush, it gets you your acknowledgement slip and applicable refunds (if any) much sooner. Click here to read this article.

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