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File Income Tax Return Online

Posted in Finance, Income Tax, India.

From assessment year 2013-14, E-filing has been made compulsory for the person who is an individual or a Hindu undivided family (HUF), if his or its total income, or the total income in respect of which he is or it is assessable under the act during the previous year, exceeds Rs. 5 lakh rupees for the assessment year 2013-14 onwards. It clearly states total income and not taxable income.

Please read below to know how you can file income tax return online yourself.


income-tax-return-form-efile

Calculate Income tax

You can calculate your income tax payable using the income tax calculator provided at this page: Income tax calculator. Income tax return excel utility also computes income tax, but they only take taxable income as input.
Also make sure that you also see whether the advance tax has been paid on time (See row 101-104 in tax calculator). In case you have paid the full tax but not paid on time as per the advance tax schedule, you are liable to pay interest under section 234 C. Income tax return excel utility also computes interest penalty u/s 234C.

Pay your tax online

Whatever pending amount you need to pay can be paid online on this link: Pay Taxes Online (Use only Internet explorer for this).
Select challan type as CHALLAN NO. /ITNS 280 and continue.
Select (0021) INCOME-TAX (OTHER THAN COMPANIES) in tax applicable field and
Select (300) SELF ASSESSMENT TAX in type of payment.
Select bank through which you want to pay.

Make sure to add interest penalty as computed by income tax return excel form u/s 234A, 234B and 234C in case of tax payments after due date.

You also pay through your net banking login on Axis Bank, Oriental Bank of Commerce, State Bank of Patiala, Bank of Baroda, IDBI Bank, State Bank of Mysore, Bank of Maharashtra, State Bank of Hyderabad, State Bank of Saurashtra, Union Bank of India, Allahabad Bank, Dena Bank, Syndicate Bank, ICICI Bank, State Bank of India, Punjab National Bank, Indian Overseas Bank, Canara Bank, Indian Bank, Bank of India, Corporation Bank, State Bank of Bikaner & Jaipur, State Bank of Travancore, State Bank of Indore, Vijaya Bank and HDFC Bank.

You can check online if your money has actually reached the I-T Department. For this you have to go to Tax Information Network Website and click the box CIN Based View. Provide details as per the receipt generated while online tax payment.

Fill Income tax return form

Download respective income tax form from income tax website. Income tax department has modified the return preparation software to include automatic calculation of tax and interest.

Income from Salary/Pension, interest and single house property ( but with exempt income is less than Rs. 5,000) : ITR-1

Income from more than one house property, capital gains, salaries, pension, interest and exempt income more than Rs 5,000: ITR-2

Income from partnership in a firm: ITR-3

Income from business/profession: ITR-4

Income from Presumptive Business: ITR-4S

Exempt income here includes transport/conveyance allowance, HRA exemption, agricultural income, insurance maturity amount, LTA, Gratuity, Interest on PPF balance, Leave Encashment, Income from Mutual Funds, Dividends and long term capital gains.

Fill up the form with information provided in Form-16 and the tax calculated in income tax calculator above in Step 1.

If you don’t know Assessing Officer (Ward / Circle), Find it here by submitting your PAN.

After filling up the form, Generate tax return XML from the income tax form by clicking Generate button on first sheet of excels form.

e-File income tax return

After you have created a XML file from income tax return excel form, Go to Income Tax e-Filing Website.
Create your login on this page on website. It’s not mandatory, to use a digital signature for electronically filing the return.

a) Filing return without digital signature:

Login to income tax site and click on assessment year under submit return menu on left side of page.
Upload the generated XML on this page for 2012-13 assessment year.
On successful upload acknowledgment details would be displayed.

Take printout of acknowledgment/ITR-V Form. You may also download it later. Login and go to link on top right 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.

Form ITR-V is bar-coded, so it need not to be folded and to be mailed in a A4 size envelope BY ORDINARY or SPEED POST ONLY to “Income Tax Department – CPC, Post Box No – 1, Electronic City Post Office, Bengaluru – 560100, Karnataka” 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 status of receipt by going into account ‘My Account’ -> ‘E-filing Process Status’.

From year 2012-13, even if a person does not have digital signature, he can file online and even does not need to send ITR-V copy to Bangalore CPC (Central processing centre) address.

An electronic signature would be generated online in income tax efiling website after providing certain information from previous year’s income tax return. On validation of such information, unique PIN would be provided to person on email/SMS. This PIN can be used to file income tax return online without needing digital signature. This will also make sure no further hard copy needs to be sent to department.

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.

Income tax department call center:

To assist taxpayers, a limited call center service has been established at ITD-CPC, Bangalore. Taxpayer queries on status of ITR-V receipt at CPC, Bangalore will be answered on 080-43456700 between 9:30 AM to 6 PM. The service will be available in English, Hindi and Kannada.

One may also call on 1800-425-2229 (Toll free) or 080-43456700 for status of receipt of ITR-V at CPC, Processing status of e-filed returns, Refund issues and any other information related to processing of returns at CPC.  The working hours of CPC Call center have been extended to 9AM-8PM on all working days.

I hope this article will help many of us and make tax filing Simple & Easy. So please this year Do-It-Yourself.

Feel free to comment/suggest anything that I may have missed.

Note : No hard copy of any kind of proof needs to be submitted along with Income tax return.


1,468 Responses

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  1. Abhishek says

    My brother is a doctor. He got stipend 25,000/- p.m. from may 2010 to april,2013 with tax reduced as TDS every year. But he has not collected any TDS slip from college (thus no record of stipend and TDS). From april,2013 onward he is getting salary of about 1 lac/month and TDS is deducted every time. His PAN card was issued in Aug,2013. He has never filed ITR .
    Now my question is how to file ITR for first time? Can it be filled online? As PAN card was issued after college, do he need to file ITR only after Aud, 2013 ? I have heard that Stipend is not counted as salary.
    Can he file ITR online from Aug,2013 i.e. after issue of PAN card?

    • Pankaj Batra says

      @Abhishek
      He should file income tax return for FY 2013-14 immediately. It can be done only on income tax website.

  2. Jeevan Patil says

    Pankaj,

    I have one query on second flat which i purchased Oct 2015. How to claim the interest and how to calculate annual letble value in my case. Monthly Rental income is 9000 pm. considering this shall i say annual let-able value = 108000 and rent which can not be realised = 63000/- Is it right??? if not what should i fill.

    Can i claim stamp duty and registration on second flat this year, if yes in which section i should add stamp duty and registration in ITR2 to get the tax benefit???

    • Pankaj Batra says

      @Jeevan
      If house is given on rent, you should fill actual rent. Else a notional rental value would be used.
      Yes, you can claim tax deduction u/s 80C for stamp duty and registration.

  3. Ravi says

    Hi Pankaj,

    I started with my employment in Dec 2011 (FY 2011 – 12). In that financial year, TDS was deducted from my salary. With the help of an agent, who was arranged by my employer, I received the refund which means the agent filed my IT returns for that financial year (FY 2011 – 12). I was unaware about this and since then, was under the impression that IT returns are filled by the employer on my behalf. As a result, I did not file my IT returns since then till I realized this yesterday. Following are my questions regarding my situation:

    1. AY 2012 – 13: Returns submitted by the agent and refund received
    2. AY 2013 – 14: Returns not submitted, Form 16 available, No taxable income
    3. AY 2014 – 15: Returns not submitted, Form 16 available, Rs. 4420 tax paid
    4. AY 2015 – 16: Going to file my returns on my own

    How do you advise me to deal with 1, 2 and 3 above? Which forms are to be used for the respective years if I have to submit the belated returns and what are the repercussions? Your detailed reply would help me to regularize the matter.

    Thanks,
    Ravi

    • Pankaj Batra says

      @Ravi
      1st is already clear
      2nd case and 3rd case: If total income does not exceed Rs 5 lakh, all taxes have been paid and the annual interest earned from savings bank account is less than Rs 10,000; then filing return was not mandatory.
      In case you fall into category where return was mandatory, then you should file belated return. There won’t be any penalty for AY 2014-15, but for AY 2012-13, IT department may ask for Rs 5000 for late filing.

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