Step-By-Step Guide on How to File Income Tax Return
As 31st July is just a few days away. It is high time to file your Income Tax Return now. Here is a step by step guide on How to File Income Tax Return. Read on and file your ITR in an easy and quick manner.
1. If you are a first-time return filer, register yourself on the income tax department’s official
E-filing portal www.incometaxindiafiling.gov.in.
Your permanent account number (PAN) will act as your user ID.
2. Keep key documents handy, including the Form 16, Form 26AS (tax credit statement), bank statements, copy of returns filed last year, capital gains statement from mutual funds and brokers.
3. Go to ‘Downloads’ tab to download the ITR preparation software (JAVA or Excel utility) for the relevant assessment year.
4. If tax is due, make the payment immediately and enter the details in appropriate schedule. Repeat above step so that tax payable turns ‘zero’.
5. Enter all data and click on ‘Calculate’ to compute the tax and interest liability and final figure of refund or tax payable.
6. Prepare the return using the downloaded software application; pre-populate the personal details and tax payments/TDS by clicking on the ‘pre-fill’ button. Compare with the information you have to ensure that nothing is left out.
7. Generate and save the ITR data in XML format.
8. Login to the e-filing website, go to ‘e-file’ and click on ‘Upload Return’.
9. Select the relevant ITR, Assessment Year and XML file saved.
10. In case of physical verification, you will have to send the printed and signed ITR-V form to the I-T department’s CPC in Bengaluru by post within 120 days of e-filing your return; an acknowledgement from the department confirming receipt will complete the process.
11. If you have not used DSC, ITR-V will have to be downloaded, you can also choose to generate electronic verification code through your bank ATM/net banking or use Aadhar-based OTP for e-verification.
12. Upload Digital Signature Certificate (DSC), if you have obtained one and it is registered with the portal, and click on ‘Submit’ button. In this case, your process will now be considered complete.
Also Read :
- Income tax returns (ITR) filing: How to avoid excess deduction of TDS from salary income
- Tax related Important Dates to Remember
- Best Internet 4G Data Plans in India
Intrested
I am intrested
ITR 2018
I want to make inçome tax return file
Yes
I AM NOW PREPARING THE RETURN. THERE IS A TDS OF 4853 FOR WHICH BANK HAS GIVEN FORM 16.I DO NOT KNOW WHERE TO ENTER THE TDS MADE IS OAID INTO INCOMETAX ACCOUNT IN THE RETURN.CLARIFY
REGARDING COL.5 IN 11b of TTI.where it is in return for 2018-19ay
Incometex
Educatoin
Sir after retirement since 2008 I have not filed returns as I was not well.Now how to continue the filing?
Please advise how I have to proceed to file my ITR
Below taxable return file compulsary in july or After july submit below taxable with panlty ?
Below taxable return file compulsary in july or After july submit below taxable with panlty ?
Thanks
I am retired from service (INDIAN ARMY)
I am retired from a PSU. May please guide in filing IT Return
I got to file those returns for over 10 years now. What should I do now ? All past data may not be available for filing.
Sir I face problem capital gain column.I sell shares 46284 & purchased Sept 2017 Rs 38424.Net Gain Rs 7860.ITR 3 Capital Gain Sheet column no 2 is short term gain .I write consideration & cost of acquisition.Last column F I write 15/9 15% & gain rs7860.My form is not validated.column no7 what & how to write.Dept add CT form is not validated.Can I generate XML file & submit ITR
We all will be much obliged if you may very kindly explain in details for filling the income tax return. Confirming the gain in interest of bank and TDS deducted from Bank is admissible or note and we will get the rebate of RS 10000.00 from income tax
I am NRE before now I am in India so guide me how to fill ITR
आजकल तो भारत सरकार का निम्न श्रैनी का एमटीएस भी इंकम टेक्स के दायरे मे आता है और उसको रिटर्न भरना पड़ता है तो क्यों नहीं आप हिन्दी मे भरने केलिए फार्म ऑनलाइन (Bialingwal) निकाल देते है
I AM NRE DID NOT SUBMIT RETURN LAST TWO YRS PL SUGGEST HOW TO MOVE FURTHER
I AM NRE DID NOT SUBMIT RETURN LAST TWO YRS PL SUGGEST HOW TO MOVE FURTHER
THIS IS FIRST TIME I AM SUBMITTING TO HAVE UR SUGGESTION
I received ITR-V from department.
How to do DSC?
Please guide me by step-by-step instructions to above e-mail id
I filled up all the tabs in the excel file and generated XML file also. I tried to upload the tax return – ITR2 through the website. But I received an error message saying – “Invalid XML. Please generate XML again using the latest utility”. I tried many times but every time I got the same message. Can any one guide me in filing the return. Unable to understand the reason for the error message.
I got 16a form from my employer . But not getting otp because the mobile no which was linked to my aadhar card is changed . So can’t e file my return . What can I do . Please guide me .
Please advise how I have to proceed to file ITR
sir, after filing of ITR 1 for AY 2018 -19 followed by submission I am getting message like this”Since the amount disclosed in income chargeable under the head of salaries is less than 90%of salary reported in TDS1, please ensure to fill details in others in exempt income”. But actually salary is the only source of my income. What to do? Please help.
I tried to download ITR-@ in Java utiliyy, The file is saved in some form, but unable to open it as ther extension is .msd etc and not .xml After severeal unsuccessful attempts, I downloaded Excel utility .kindly clarify. bthanks,
Need service to file income tax returns. You can charge me for your service.
It’s hard to find educated people for this topic, but you seem like you know what you’re talking about! Thanks