Income Tax eFiling
As per the Income Tax Act of 1961[Section 139(1)], individuals whose total income during the previous year exceeds the maximum amount not chargeable to tax, should file their return of income. Department of Income Tax has provided the facility of free e-filing of income tax to generate e-return and to file the return electronically. The Income Tax eFiling service is simple to use and contains guideline instructions on how to use it. By using the e-filing facility, the taxpayer can quickly file their return of income.
What is e-Filing?
The process of electronically filing the Income tax return through online is known as Income Tax e-Filing. E-filing Income tax is mandatory for companies to submit the income tax returns electronically for the assessment year.
e-Filing of Return of Income is compulsory for the following clients.
- Where accounts are required to be audited under [Section 44AB].
- Where audited under [Section 44AB] is not applicable and
- The return is furnished in ITR-3 form or ITR-4 form.
- The individual or Hindu Undivided Family being a resident has Assets, including financial interest in any entity Which is located outside India.
- An assessee who has income from any source outside India or Signing authority in any account located outside India.
- Any relief under Section 90 /90A or deduction under section 91 is claimed in respect of tax paid outside India.
- The Taxapyer required to file a report audit specified under sections 10(23C) (iv), 10(23C) (v), 10(23C) (vi), 10(23C) (via), 10A, 10AA, 12A(1) (b), 44AB, 44DA, 50B, 80-IA, 80-IB, 80-IC, 80-ID, 80JJAA, 80LA, 92E, 115JB, 115VW of the act. Allow a notice under section 11(2)(a) shall eFile the same.
- Total income exceeds Rs. 5 lakh rupees or any refund is claimed (other than Super Senior Citizen furnishing ITR1 Form or ITR2 Form).
- In cases covered by audited under [Section 44AB] above, the return is required to be e-Filed under digital signature (DSC).
Type of Income Tax e-Filing
There are three ways to file returns electronically:
- You can e-File the Return through an e-Return Intermediary (ERI) with or without Digital Signature Certificate (DSC).
- Use Digital Signature Certificate (DSC) or EVC to e-File. If Income tax return filed with a DSC / EVC, there is no further action needed.
- e-File without Digital Signature Certificate(DSC), in such case an ITR-V Form is generated. This Form should be printed, signed and submitted to CPC, Bangalore by using Ordinary Post or Speed Post ONLY within 120 days from the date of e-Filing.
Types of e-Verification of IT Return
There are three ways to verify the Income-tax return electronically. Which are mentioned below?
- e-Verification by using e-Filing On Time Password (OTP).
- e-Verification by NetBanking login.
- e-Verification by Aadhaar OTP validation.
The pictorial representation for e-verification of return is given below.
Income Tax Return Efile – Excel Utility
|ITR Form||Description||Excel Utility|
How do I e -File my Return?
Income tax eFiling is not to be a complicated process. Just follow the steps provided below.
First and foremost, visit Income Tax India official page for e-filing IncomeTaxIndiaeFiling.gov.in, and register on the website if you are a new user.
- On the homepage, Go to ‘Downloads’ and select applicable ITR Form of the relevant Assessment Year.
- Download the excel utility from of the Income Tax Return (ITR).
- Fill the excel utility form and Validate.
- Generate an XML file and save in destination to your desktop or system.
- Login to e-Filing IT Return application and then go to ==> e-File ==> Upload Return.
- Select the ITR Form( Income Tax Return) and the Assessment Year, and Select the XML file.
- Upload Digital Signature Certificate(DSC), if available and applicable, and click on ‘SUBMIT’.
- On successful upload of e-filing, acknowledgement details would be displayed.
- Take a printout of Acknowledgement/ITR-V Form for further use.
- ITR Form should be printed, signed and submitted to CPC, Bangalore by using Ordinary Post or Speed Post ONLY within 120 days from the date of e-Filing.
The Income-Tax Department-CPC,
Post Bag No. 1,
Electronic City Post Office,
Bangalore, 560 100, Karnataka.
How to E-file Income-tax Return procedure?
Steps to file ITR1/ITR 4S Online
The Assessee has an option of submitting ITR 1/ITR 4S by way of Uploading by Online submission.
- Visit the Income Tax India official website IncomeTaxIndiaeFiling.gov.in for the e-file return of income.
- Login to the e-Filing application and Prepare and Submit ITR form Online.
- Select the Income Tax Return(ITR) Form ITR 1/ITR 4S(SUGAM) and the Assessment Year.
- Fill the relevant details and click the SUBMIT button.
- On successful submission of ITR1/ITR4S Form, Acknowledgement details are displayed.
- Click on the link to take a printout of Acknowledgement/ITR-V Form.
Income Tax Form by Tax Professional
Step by step process to E-file income tax return on online.
- Visit the Income Tax India official website www.IncomeTaxIndiaeFiling.gov.in.
- Go to ‘Downloads’ tab and select relevant Income Tax Form of the relevant Assessment Year and download it.
- Enter the relevant details such as utility and Validate.
- Generate an XML file and save for future use.
- To Upload ITR form Login to the e-Filing application and then upload Form.
- Select appropriate ITR Form and the Assessment Year.
- Upload Digital Signature Certificate(DSC) and click on ‘Submit’.
- On successful upload, the Income Tax Form is sent to Assessee’s workflow for acceptance.