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.
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.
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.
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.
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.
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View Comments
Dear Sir,
I have not any other source of income other than my salary. I have three FORM 16 from three different employer for financial year "2008-09","2009-10"&"2010-11" but till now i have not done IT return. Now I will to return file, is it possible to IT Return for three years?? if possible then how???
@Sanjoy
You can file income tax return online for these previous years too, but due to late filing, IT department may ask for penalty amount (Rs 5000).
Procedure for previous year's filing is similar to current year. Download ITR excel sheet for that year, fill, generate XML and upload to e-filing website.
Sir,
I have another two question-1>being a employe I have form 16, for a home loan it is sufficient or IT-return is must??? Note:annule income below 5Lak.
2>I going to buy a home(Rs.12Lak) which is mordgage to bank for Rs.3Lak, So Owner of the property at first want a advance of Rs.3Lak to clear his due & get the property paper. So question is how i proceed in this situation, what is the legal way and annother point is that I want a home loan of 6lak to buy this.
@Sanjoy
1. For getting home loan, finance company may also ask for previous 2-3 years ITR copies. So its better that you file income tax return in case you are looking for home loan in near future.
2. You can try to get loan from same bank in which property is already mortgaged. It will help you in transaction. In case its not possible, your bank agent (from which you will be getting loan) can help you out structure this deal better.
Sir,
special thanks to U, I have done my IT return for the assesment year 20011-12 myself.
BR\\
Sanjoy.
Hi Pankaj,
Can I get deduction in tax for the fees accrued under CFA program while being in job? If yes, then under section can I claim it?
Thanks
Mamta
@Mamta
You won't be able to get deduction for the fees paid for CFA program.
Dear Pankaj,
My self Hemant Kumar, tax amount has been deducted by my employer Ranbaxy Lab. Ltd. for the year of 2010 - 2011. and sent us a form 16 for the year of 2010 - 2011.
Now, want to ITR file for the same, can i do this online.
please suggests. if yes. please
@Hemant
You can file income tax return online with help of your form-16.
Its pretty easy and will take not more than 15-20 mins.
Read all steps about filing return on this page: http://www.pankajbatra.com/india/file-income-tax-return-online-yourself/
Hi Pankaj,
I have some additional investment proofs which was not accounted for earlier in my form16 for this year. For example, I have some donations made for which I want to get the deduction. I am filing my returns through http://www.incometaxindia.gov.in/. Should I add the additional amounts in the form16 itself while filing returns online? How do I know how much tax return I should get? Also, where can we submit the hard copy proofs for the additional deductions being claimed?
Thanks
Mamta Saboo
@Mamta
You can claim deductions for other investments while filing income tax return too.
Donations will go under section 80G.
Once you fill records in ITR excel, you can calculate tax in it and it will show how much refund is payable.
No proof/documents needs to be submitted while filing income tax return.
Hi Pankaj
I gave my form 16 to a CA for filing my income tax return. He had come to our office for assisting in filing of returns. Now i dont know if has filed the return or not. My form 16 was digitally signed by my employer. How do i check if my return has been filed or not? Should I file it on my own online? what if he has filed it and I also file it again? Please reply.
@Nidhi
Most probably CA, who visited your office, will file income tax return offline. He would return you a stamped receipt copy of ITR.
There is no way to check whether return has been filed or not, in case of a offline filing.
Best way is to call him (CA) and ask for ITR receipt. If he has not filed yet, you may do it yourself online and ask him not to do it.
It should not be filed again in case already been filed offline.
Can we submit the proofs of investments while filing returns?
My form 16 doesnt show investment under 80C and interest paid as part of house loan.
@Avinash
You can declare your 80-C and other deductions while filing income tax return, even if same has not been deposited to employer.
House loan interest can also be shown as loss from house property.
No supporting document/proofs needs to be submitted along with ITR.
In the e-filing system Form 16 has to be not kept with the assessee and not submitted to the Income tax department as an attachment?
@Rahul
No supporting document/proofs needs to be submitted along with ITR.
dear sir how we can check our form 16 online i have login account in incometax deptt
@Sarita
Form-16 cannot be checked online, but you can check TDS deduction amount in Form-26AS on income tax website.
Hi Pankaj,
I have few queries..
1. Is digital signature a must this year for me (Individuals filing ITR1).
2. I have a donation, which goes under 80G. i read in one of your posts that no receipts are required. That means i need not send any receipts to IT dept? So whom should i send the receipts to? If i need not send them, how IT dept will know mine is genuine or not...
@Prasanna
1. Filing with digital signature is not mandatory for individuals.
2. No supporting document/proofs needs to be submitted along with ITR. They trust your declaration. In case something found incorrect, legal action can be taken.
Hi Pankaj,
I am a retired person. But with a small capital, I purchase and sell some shares. Last year I had lost some amount in FnO (Future and Option) trading. I want to show the loss in my IT return. I came to know that for FnO trading I have to fill up ITR 4 as such trading is considered as business.
Since I have never filled up ITR 4, I have some questions. What type of business I will shown in ITR 4? They want some code for it and my type of business is not seem to be listed there. Can you give some idea?
Next, can I get some ITR 4 examples for my type of declaration?
Hope you can help me
Thanking you
Bidyut Chakraborty
@Bidyut
You will have to fill ITR4 as trading in F&O is considered a business.
For business code, you can use 0204 (trading-others).
You can read ITR-4 instructions (http://law.incometaxindia.gov.in/DITTaxmann/IncomeTaxRules/pdf/ITR-4_I.pdf) for more help.
Hi Pankaj,
Thanks for your response.
Well I dont know it is too much to ask from you, but can you tell me that since I dont keep or made any financial documents like P/L account, balance sheet etc. how do I fill up the details there regarding my loss in F&O tradings?
Please hint me how do I fill up my F&O trading and profit/loss details. Please if you can.
Thank you for your response once again
Bidyut
@Bidyut
ITR-4, P/L accounts and business loss carry over are complex in nature and I would advise you to take help of a CA or tax professional.