The government of India is constantly working towards making the process of filing income tax return simpler for tax payers. In the past few years, many new processes have been introduced like E-Filing of Income tax return, Online payment of taxes, digital signatures etc. to make the whole process easier.
But filing income tax return online is still not very popular between tax filers as they are not very familiar with the whole funda of ‘How To File Income Tax Return Online?’. So to make it simple, here is a step wise step guide to help you file income tax return online by yourself.
I – Calculate Your Income Tax Using Online Tax Calculator
II – Download the relevant returns form (ITR 1 to 7) based on your sources of income.
III – Fill ITR form offline and generate XML file.
IV – Pay your income tax online.
V – Upload your XML file
VII – Take Print out of the acknowledgement slip/ITRV, sign and send to the income tax office.
Calculate Income Tax
The very first step for filing income tax return is to calculate your income tax. For that one can simply use an online income tax calculator to calculate total tax payable. While calculating income tax, you should also see whether the advance tax has been paid on time or not. As non payment of advance tax on time attracts interest under section 234A, 234B and 234C.
Pay Your Income Tax Online
After calculating your income tax the next step is to pay your balance income tax online on the platform provided by income tax department.
- Visit :- https://onlineservices.tin.nsdl.com/etaxnew/tdsnontds.jsp
- Click on Challan No. /ITNS 280 (Payment of Income tax and corporation tax)
- On the tax payment form,
- For Tax Applicable Field : Select (0021) Income-Tax (Other Than Companies)
- For Permanent Account No. Field :- Enter your 10 digit Pan Card Number.
- For Assessment Year Field :- Select 2012-13.
- Select your City, State and Pin Code.
- For Type of Payment Field :- Select (300) Self Assessment Tax.
- For Bank Name Field :- Select the name of bank from which you intend to make your tax payment.
- Type the characters you see in the picture below : Enter the text in the text box and press Proceed button.
- On the confirm data page, you can verify all the details and to modify details press Edit else press ‘Submit to the bank’ to proceed to tax payment.
Note:- Go for retail/personal banking for making payment.
After making your tax payment, you can also check is your money actually transferred to the account of Income Tax department or not. For that you need to visit to the official page of Tax Information Network and click on the button ‘CIN Based View’ and enter the details of as per the receipt generated while online tax payment.
Download And Fill Your Income Tax Return Form
Identify which ITR form according to your income sources and download the same from the official website of Income Tax Department. Now these tax forms are capable of making automatic calculation of interest and tax. [ Do not forget to Enable Macros (Detailed Instructions here) in the ITR form – Check help file downloaded along with ITR Form to know ‘How To Enable Macros In Your ITR Form?’].
- Income from Salary/ Pension / House Property/ Other Sources : Download ITR-1
- Income from Salary/ House Property /Capital Gains/ Other Sources : Download ITR-2
- Income from partnership in a firm: Download ITR-3
- Income from proprietory business/profession: Download ITR-4
- Income from Presumptive Business: Download ITR-4S
Fill your income tax return form with the details provided in your Form 16 or the tax calculated by you using income tax calculator.
Check Your Ward/Circle by entering your PAN Number HERE
Validate the details entered by you in the ‘Income Details’ Form by pressing ‘Validate’ Button on top of your ITR Form.
Fill your TDS page of income tax form from the details as per Form 16
Tax payers also need to quote their Document identification number (DIN) at the time of filing their income tax return.
Validate the details entered by you in the ‘TDS’ Form by pressing ‘Validate’ Button on top of your ITR Form.
After entering all the details in your ITR form, you need to click on the ‘Generate XML’ button on the income details form.
e-File Income Tax Return
a) Filing return without digital signature:
- Login to income tax website and select the assessment year under submit return menu.
Select you form name from the list of IRT1, ITR2, ITR3, ITR4, ITR4S. and keep the other fields unchanged and click next.
- Click on the ‘Choose Button’ to select your income tax XML file and press Upload button.
On successful upload acknowledgment details would be displayed. Take the printout of the acknowledgment receipt (ITR-V Form) or download the same later.
Now go to the top menu My account > My Returns.
Form ITR-V has to be submitted with the Income tax Department as verification of the electronic filing of the return within 120 days after the date of e-Filing. So you need to take the printout of the ITR-V form and sign it and send it to centralized processing center within 120 days.
Form ITR-V is bar-coded, so it need not to be folded and to be mailed in a A4 size envelope either BY ORDINARY or SPEED POST ONLY to
“Income Tax Department – CPC,
Post Box No – 1, Electronic City
Post Office, Bengaluru – 560100,
within 120 days after the date of e-filing of return. ITR-V sent by Registered Post or Courier will not be accepted. No Form ITR-V shall be received in any other office of the Income-tax Department or in any other manner. Please keep a copy of the same with you also. After some day of posting the ITR-V, you can check ITR V Acknowledgement & Receipt Status Online.
b) Filing return with digital signature:
In case you don’t have digital signature and you want to buy that, you can buy class 2 or class 3. You can buy digital signature on e-Mudhra website . Class 2 individual certificate is available for Rs. 285 for 1 year validity.
In case return is filed with digital signature, user may take a printout of the Acknowledgment for his record. The tax-payer is not required to submit the Form ITR-V with the Income-tax Department.
NOTE:- Filing income tax return online also ensures quick processing of your income tax refund (within 3 months). But for refunds, make sure that you have entered your full address, email ID and bank account details accurately.