E-Filing Income Tax: How To-File Your Income Tax Return Online

Many taxpayers believe filing income tax returns is complex, but it's actually straightforward. You can easily e-file your returns from home, making the process convenient and hassle-free. Let's directly discuss the ITR filing process.

Before understanding the ITR filing process, register on the income tax department's website.

• Step 1: Begin by creating your e-filing account. You can do this by clicking here.
• Step 2: Log in using your PAN (Permanent Account Number) and password.
• Step 3: Link your Aadhaar with your e-filing account. To do this, choose the "Link Aadhaar" option under the Profile Settings tab. Enter details such as your name per the UID card and your UID number to complete the linking process. You also need to e-verify your ITR through an Aadhaar OTP.
• Step 4: Open Form 26AS from the Quick Link menu. Form 26AS provides a summary of the taxes you have paid over the financial year, including TDS (Tax Deducted at Source), advance tax, and self-assessment tax.
• Step 5: Download the correct Income Tax Return (ITR) Form. Refer to the table at the end of the article to choose the appropriate ITR form for your income type.
• Step 6: Download the Excel utility of the ITR form and fill in all the required details, including:

• Name
• PAN
• Address
• Date of birth
• Email ID
• Mobile number
• Indicate whether the return is original or revised
• Other taxable income
• Investments
• Taxes deducted
• Bank details

• Step 7: Click the "Validate" button on all the sheets to ensure all details are correctly entered.
• Step 8: After validation, click the "Calculate Tax" button to compute your tax liability.
• Step 9: If any tax is payable, pay and provide the challan details in the return form.
• Step 10: Click "Generate XML" to create an XML file of your tax return and save it on your desktop.
• Step 11: Log in to your account on the Income Tax Department's website and click "Upload Return." Fill in the ITR form, select the assessment year, and upload the XML file. If you have a digital signature, upload that as well.
• Step 12: Click on "Submit." Upon successful submission, you will receive an acknowledgement. Take a printout of this acknowledgement for your records.
• Step 13: If you used a digital signature, your income tax return filing process is complete.

If you did not use a digital signature, you would receive an ITR-V form, which serves as an acknowledgement and verification. Print the ITR-V form, sign it in blue ink, and post it to the Income Tax Department at the following address within 120 days of e-filing:

Income Tax Department - CPC, Post Bag No - 1, Electronic City Post Office, Bengaluru - 560100

You will receive an acknowledgement of receipt of the ITR-V by email and SMS.

• ITR 1 – Individuals (residents other than RNOR) with income up to ₹50 lakh from salaries, one house property, other sources (interest, etc.), and agricultural income up to ₹5,000.

• ITR 2 – Individuals/Hindu Undivided Families (HUFs) not having income from profits and gains of business or profession.

• ITR 3 – Individuals/HUFs having income from profits and gains of business or profession.

• ITR 4 – Individuals, HUFs, and firms (other than LLPs) having a total income of up to ₹50 lakh and having income from business and profession computed under Sections 44AD, 44ADA, or 44AE.

• ITR 5 – Applicable to firms, Association of Persons (AOPs), Body of Individuals (BOIs), and Limited Liability Partnerships (LLPs).

• ITR 6 – Applicable to companies other than those claiming exemption under Section 11.

• ITR 7 – Applicable to persons, including companies, required to furnish returns under Sections 139(4A), 139(4B), 139(4C), 139(4D), 139(4E), or 139(4F).

Investors can claim a maximum deduction of ₹1.5 lakh per annum by investing in a tax-saving FD. Know about your returns with the FD Calculator.

*The information provided in this article is generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances. You are recommended to obtain specific professional advice before you take any/refrain from any action.

All information is subject to the relevant Act, Rules, Regulations, Policy Statements, etc., of the Income Tax Department and subject to change. Viewers are advised to verify the content from original Government Acts/Rules/Notifications, etc.