Filing an income tax will no longer be difficult. Those days were gone when people used to stand in a queue to file their ITR and seek tension in the furnishing of the tax.
It is easier to do filing online also called e-filing, filing can be done through offices or home. Therefore, you can file your ITR forms online quickly and accurately on India’s largest Gen Income tax return filing software.
Steps to File ITR Online on Income Tax Portal
Step 1: Log on to The Portal
To furnish the e-filing log on to the income tax department (www.incometaxindiaefiling.gov.in). Enroll by using your Permanent Account Number (PAN), which will assist as the user ID.
Step 2: Download Suitable ITR Form
In the download, the section goes to e-filing beneath the related assessment year and also opt for the proper ITR form. You can Download ITR-1’s (Sahaj) return preparation software if you are a salaried working person.
Step 3: Insert The Particulars in Form 16
Tap to open the return preparation software (excel utility) that you have downloaded, follow the instructions, and enter all details from your Form 16.
Step 4: Calculate All Related Tax Information
Calculate the tax payable, pay tax along with insert the challan information in the tax return. This step can be jumped if you do not have a tax liability.
Step 5: Verify The Above Information
Verify the information inserted by you and generate an XML file, which is automatically saved on your computer.
Step 6: Submit a Return
Go in the ‘Submit Return’ option and upload the XML file.
Step 7: Digital Signature
You can sign the file online on being proposed. You can skip out the step if you have not any digital signs with you.
Step 8: Verification From ITR Verification
A confirmation message will be prompted on your screen which shows that your e-filing is successful. The acknowledgment form to verify the ITR has been generated and the corresponding will be downloaded. It will be provided to you on your email id which is in the records.
Step 9: E-verify Return
The verification can be done for the return through the below six check modes such as 1) Netbanking, 2) Bank ATM, 3) Aadhaar OTP, 4) Bank Account Number, 5) Demat Account Number, 6) Registered Mobile Number & E-mail id. E-verification eliminates the need to send a physical copy of the ITR-5 acknowledgment to CPC.
What is The Method to Download Income Tax Return?
To furnish the ITR on time is mandatory for every business person for saving themselves from the penalty. On furnishing the ITR the income tax verification form is generated through the IT council. It is because to verify that it is legal and valid for e-filing. This is verified if you have furnished the returns excluding the signature.
The income tax return verification form can be download online by following the steps:
- Log in to the Income Tax India website https://portal.incometaxindiaefiling.gov.in/e-Filing/UserLogin/LoginHome.html?lang=eng
- View e-filed tax returns by tapping on ‘View Returns/ Forms’.
Opt The Option of Income Tax Returns
The information for all the years where the returns are furnished will be mentioned
- Tap on the acknowledgment number for downloading the ITR-V
- Start the download by choosing ‘ITR-V Acknowledgment’
- You must insert the password to open the document that you had downloaded. The PAN number shall be your password written in lower letters and also it is along with the birth date of the person
- PAN – ASIJP2345P
- Birthdate – 31/12/1980
- Password – asijp2345p31121980
In 120 days of online filing, you are required to send the printed and signed credentials to CPC Banglore. There is also the option of E verification of income tax return through the opt generation of Aadhar number, through net banking, ATM, etc.
The Credentials Needed to Fill ITR
The credentials are needed to be in hand prior to start filing the ITR online.
- Bank and post office savings account passbook, PPF account passbook
- Salary slips
- Aadhar Card, PAN card
- Form-16: TDS certificate is given to you through the employer to give the data of the salary paid to you and TDS cut on it.
Interest Certificates From Banks & Post Office
- Form-16A if the TDS cuts down on the payments excluding the income like on interest received from fixed deposits, recurring deposits, etc. for the particular limits according to the tax act.
- Form-16B from the buyer if a property has been sold by you through showing the TDS deducted on the amount given to you.
- Form-16C if any information from the tenant for giving the information of TDS cut down on rent.
- Form 26AS the consolidated yearly tax statement has all the details about the taxes given with respect to your PAN.
- TDS subtracted by your employer
- TDS subtracted by banks
- TDS subtracted by the other companies from payments furnished to you.
- Advance taxes accumulated by you
- Self-assessment taxes gave by you
- Tax saving investment proofs
- Beneath section 80D to 80U (health insurance premium for self and family, interest on education loan) for the proofs to avail the deductions.
- Home loan statement from the bank
What is The Process to Check The ITR Status?
If you have furnished the ITR and also validate it then the status of the tax return gets automatically validated. After the finish of the process, the status displays ITR processed.
If you want to track the status of your ITR post furnishing it and urges to check the ITR status online then below are the steps
First Option Without Login Credentials
- On the left side of the tab, you must Tap on the ITR status on the e-filing portal.
- Then you will be prompted to a newer page in which you must furnish the PAN number, ITR acknowledgment number, and captcha code.
- When it gets completed then the status of your filing will be prompted on the screen.
Second Option With Login Credentials
- Login to the e-filing website.
- Click on the option ‘View Returns/Forms’
- From the dropdown menu, you must pick the ITR and assessment year.
- If it gets completed then the status of your filing whether confirmed or processed will be displayed on the screen.
By following the rules of the income tax department with respect to the income and taxability of you will keep you on the correct path and of the law and remove the barriers in the financial concern. You must be assured that you will finish your ITR filing prior to the deadline. If you are willing to find out one of the best software then here you can also try the free download Gen income tax return filing software that is available for professional tax experts.