As the deadline for filing income tax returns ends on 5 August, working professionals are in a race against time to avoid being penalised. This year onwards, it is mandatory for individuals who are earning above ₹5 lakh to file their income tax returns via electronic filing or e-filing.
Besides rushing to the post office, individuals can also file online. Here is a step-by-step guide to file your income tax returns through the IT department website.
The first step involves registering yourself on the income tax website. Visit the website https://incometaxindiaefiling.gov.in/ and click on "Register Yourself" button on the top right side. Fill in your personal details such as your Permanent Account Number (PAN), Date of Birth, E-Mail ID and mobile number.
Once the account is created, login in to your account using your user ID and password. Your PAN card number is the user ID.
Click on "View Form 26AS" link given under the quick link menu on the left hand side to view your tax credit statement for the financial year 2012-2013. The statement will give details about your TDS, Advance tax, Self assessment tax that has been paid in your name. Your date of birth is the password to open Form 26AS.
Click on "Download ITR" link displayed under the quick link menu. Download the income tax return form that is applicable to you. There are eight different income tax return forms. Choose the appropriate form and download it. If your form is ITR-1 or ITR 4S, then you can complete the process on the online portal itself by clicking on the "Quick e-file ITR" link.
Fill details including your name, PAN, address, date of birth, e-mail ID, mobile number, residential status, whether original or revised return and residential status, in the tax form. Also, fill in details of income earned as well as tax deducted or paid.
Validate the details
Click on the "Validate" button provided on all the sheets to validate the details.
Click on the "Calculate Tax" tab to determine tax liability. If tax is applicable, you have to deposit the amount and fill in the challan details in the tax return form.
Generate XML file
Then generate an XML file by clicking on "Generate XML" and save the file on your computer.
Once you generate an XML file of the tax return form, click on "Upload Return" under the quick link menu. You have to choose the ITR form, name and assessment year for which you have to select "AY 2013-2014". The website will ask you whether you want to sign digitally. If you have a digital signature , choose "yes" otherwise choose "no."
The website will then flash a message saying the return has been successfully uploaded and will provide your transaction id.
After the successful submission of your return, an e-mail confirming the same will be sent to your email ID along with an acknowledgement number. An ITR-V, acknowledgement-cum-verfication form, will be generated and sent to your email.
Send ITR-V to income tax department
Download the ITR-V form your email and take a print out of it. Sign it with blue ink and send it via ordinary or speed post to the income tax department with the address - CPC, Post Bag No - 1, Electronic City Post Office, Bengaluru - 560100. The ITR-V form should be sent to the department in 120 days.
Acknowledgment of receipt of ITR-V
After the income tax department receives the ITR-V form, an email acknowledging the receipt of the ITR-V form will be sent. An SMS from the department will be sent to your mobile number for acknowledging the same.
You can check the video below to learn how to file your return online through the https://incometaxindiaefiling.gov.in/ website.