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.
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.
Oh this is comprehensive…Thanks buddy for this very nice piece of information. Shall help out souls like me!!!!!!!
Great Help!! Thanks a ton 🙂
Thanks a lot. . This was really helpful!! Good job buddy…
Excellent information 🙂
sir,
please tell me more about how i fill my income tax return file online. i got some information.
thanx
Lalit, Please let me know what more information you need.
Hi Pankaj,
This is really a very good information thanks for that. I need some advice from you. I have two form 16 and also i have also housing loan. my question is
1. which Income Tax Return form i should use ( I’m not earning from my house )
2. what is the calculation steps as i have two form 16. what is the basic way i should follow.
thanks
Prasanta
Prasanta, You should use ITR Form 1 and for two Form-16, you should add income from two and calculate tax accordingly. You may use tax calculator at http://www.pankajbatra.com/2009/04/06/income-tax-calculator-india-2008-2009-2010/
Hi Pankaj,
I have invested in shares and how to show it in while filing tax return. What all r required for this and also got a form 16 from the company i am working. Please hellp on this.
Pradeep, You should fill income tax return form 2 (ITR-2) in case you have any short term capital gains from share trading.
You should provide details under Part B-TI section of form.
Hi Pankaj,
Currently i have two form 16 (from my prev companny and from current company). I ve invested little bit amount in insurance, but its not declared in my form 16. Can i declare this investments at the time of filing the tax returns.
Thanks,
Lokesh
Yes Lokesh, You can declare the investment in income tax return and ask for a income tax refund.
Hi pankaj,
Currently my taxable amount is 0.0 rs. in both form 16. because i changed my job in between this fin year. Now, if i submit both form 16 then only my total income crossing 1.5 lacs by X amount.
So i can cover this taxable amount by submitting my investment proof. m i right pankaj?
Thanks,
Lokesh
Yes Lokesh, You can cover taxable income with investments.
thanx pankaj for ur help and time.
Hi Pankaj
I am facing a very weird problem. I am not able to register on the e-filling website. After i enter my PAN, it displays my Adress and asks for details like password, name, father’s name, etc.
the name on my PAN card is “YESHWANT D BAFNA”
I tried all combinations of my first,last,middle name but it always gives me below error
•Your first name doesnt match with the data you entered..
•Your surname name doesnt match with the data you entered..
Yeshwant,
Please check Father’s name also. Also try this on Know Your PAN link: https://incometaxindiaefiling.gov.in/portal/knowpan.do.
In case that also does not help contact Aayakar Sampark Kendra (ASK) call center on 124-2438000 or email them at [email protected]
Thanks Pankaj
I contacted ASK and they helped me out. Government service do pick up phone 🙂
No wonder i couldnt register. my first name in their records was my Father’s FULLNAME and the surname was my FULLNAME.
awesome
Hi all,
This is a message for Batra saab. Although he is a superb techy(J2EE), but still he is able to help us in various financial issue. God Dammn, you are awesome sir jee 🙂
Cheers to you!!!
Thanks,
Vikas
Excellent information. will help me to file my return online
Hi Pankaj,
This is very helpfull but I have a question. I am investing in shares from past 2 years but due to incomplete information I did not declare my stock last to last financial year. However the profilt figure was not so substential. Also I incurred some good amount of loss the last financial year due to down market. So does the loss in share transactions offset against my taxable income to the extent of loss?
Bhavin, Loss in share transactions can only be offset with profit in share transactions. Capital gain calculations can not be combined with salaries or other taxable income.
For example, Let say 20k is booked profit from shares, 10k is loss booked from shares. Then total taxable capital gain will be 10,000.
In case you booked profit of 20k and loss of 30k, then total taxable capital gain will be zero.
I missed filing my last year return (ie AY 2008-09). When I tried filing online (as per procedure above), the website threw an error saying that the last date of submission was 31.03.09. However under FAQs on incometax website, it is mentioned that return for any financial year can be filed within 2 years from the end of that financial year (pls see question no. 57 on http://www.incometaxindia.gov.in/questionbank.htm#D48).
In light of this, pls guide as to how I can file this return online.
@vinod,
I think you have to file older returns in income tax office. Seems like they do not support older return filing as of now.
Hi Pankaj,
Thanks for helping out people with the tax issues. Even I have two form 16 s from two companies and I have a loss of **** Rs through short term trading. i want to show this loss in my returns so that i can offset it in later years.
I think I have to file ITR-2. But there are so many spaces which is confusing me. Can you advise me about which column i should file this loss in? and where should i write the income from salaries? Cant afford a Chartered Accountant yet.
The form 16s are only for my reference. If i am not wrong, I think i dont have to submit them along with my IT returns.
RP
@RP
For income from salaries – provide your inputs in row 78-88 in sheet ‘PARTB – TI – TTI’
For capital gain/loss, use sheet ‘CG-OS’.
Yes, Form-16 need not to be submitted along with return.
Even no paperwork needs to be done in case you file return with digital signature.
I am an advocate (female). I am working with a law firm. They pay me Rs. 25,000 per month. Nature of Payment 194J Fee for Professional or Technical Services. TDS is Rs. 2,833 p.m.. I have a LIC Rs. 20,663. I have invested in mutual funds ELSS Rs. 40,000/-. I have investments in other mutual funds too SIP Rs. 4000 p.m.. How would I calculate my tax. Can I claim expenses.
@Prerna,
Please download the Income Tax calculator from this URL: http://www.pankajbatra.com/2009/04/06/income-tax-calculator-india-2008-2009-2010/ . Using this you can calculate the total tax amount payable by you.
Hi. I like the way you write. Will you post some more articles?
Pankaj, I used ITR-1 excel for filling my returns, after validating all sheets, I tried to generate XML then there was a additional sheet generated showing TDS on Salary, TDS on Interest and Tax Payment with No of Entries 3,4 and 2 resp. Which is not matching as I only submitted data against TDS on Salary(1 Row). I believe it should be 1,0 and 0.Kindly suggest what may be the error, can I go ahead with these 3,4 and 2 entries?
By the way your effors are well appreciated on Tax filing procedure, Thanks.
Regards
Iranna
@Iranna,
It seems like some bug in Tax Sheet provided by Income tax department; But don’t worry about that as XML generated does not contains those blank rows.