This 10 minute video explains steps in filing ITR, ways to file ITR : Excel Utility, Java Utility or Online, Documents required and Form 26 AS. This video is based on our article E-Filing of Income Tax Return,
Table of Contents
Video on Ways to File ITR , Steps to File ITR
Bemoneyaware’s video on Youtube is at https://www.youtube.com/watch?v=6uPW-iavZPc
Summary of Video is given below
Steps In Filing Income Tax returns
To file on incometax department efiling website incometaxindiaefiling.gov.in steps are ”
- Fill the form for which there are two options
- File return offline : means you can download the form, fill it without being connected to internet and submit the form online.
- File return online (which currently shows for filing only ITR 1,ITR4S) : means that you need to be connected to internet for filling the form as well as submitting it.
- Choose whether you want to use digital signature while filing. A digital signature authenticates electronic documents in a similar manner a handwritten signature authenticates printed documents. This signature cannot be forged.
- If you do not use digital signature the Income Tax receipt, called as ITR-V, needs to be printed and sent to Central Processing Unit (CPC) Banaglore within 120 days of filing return.
When does one need to e file returns
E-Filing Returns is compulsory for:
- Individuals earning over Rs 5 lakh a year. They are required to file their tax returns in the electronic format from AY 2013-14 (FY 2012-13) and subsequent assessment years.
- Individual/HUF, having total Income of Rupees 10 lakhs. It was made mandatory from AY 2012-2013((FY 2011-12) and subsequent assessment years.
- Individual/HUF /Firm auditable under section 44B of the IT Act, 1961. It was made mandatory for AY 2012-2013 and subsequent assessment years.
- All Companies
How to file returns using Excel or Java Utility
Which utility to choose depends on your familiarity and your ease of use with software such as Excel, Java or form based. Information to be filled is same in all. As Amitabh Bachchan says famous lines from his father’s Harivansh Rai Bachchan, raah pakaD tu ek chalaa-chal paa jaayega madhushaala .
Steps to file returns offline are :
- Download the applicable ITR form which is zip file with Microsoft excel file or Java Utility also called as Return Preparation Software
- Fill it offline
- Generate a XML file and save it to your computer.
- Logon to incometaxindiaefiling.gov.in (If you don’t have the Login you need to register )
- Go to e-File->Income Tax Return and Upload your XML file (saved in step 3)
- Choose whether you want to use Digital Signature or not
- On successful upload acknowledgement details would be displayed.
- If you did not use digital signature and you did not meet requirements for Electronic Verification code ex : did not fill the Aadhaar the Income Tax receipt, ITR-V, needs to be printed out and sent to Central Processing Unit (CPC) Banaglore within 120 days of filing return.
Those filing ITR1 or ITR 4S can file online after logging in to incometaxefiling.gov,in and selecting Quick e-File ITR ,as shown in image below (Click on image to enlarge)
Documents required while filing ITR
As per income tax department documents required for filing ITR are shown in image below
Various documents depending on Types of Income are shown below (Click on image to enlarge) and articles to help you understand
Steps in Filing an ITR
Steps in filling an ITR are explained in articles and shown in image given below
- Fill Excel ITR form : Personal Information,Filing Status or Filling Individual ITR Form: Fields A1 to A22
- How To Fill Salary Details in ITR2, ITR1
- HRA Exemption,Calculation,Tax and Income Tax Return
- Fill Excel ITR1: 80G, Exempt Income,Calculation of Tax
- Fill Excel ITR1 Form : Income, TDS, Advance Tax
- Filling ITR-1 : Bank Details, Exempt Income, TDS Details
- Tax Exempt Allowances in Salary Schedule S in ITR2
- Paying Income Tax Online, epayment: Challan 280
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