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,
Please let me know which ITR to be filed by a Cab driver who has got Form 16A under 194C at 1%. Another clarification what i need is, TDS has been deducted on Rs 103947.00. Where as after deducting fuel expense and TDS he has got Rs.63406.00 for the year. Which income should be shown in ITR. The one which is before deduction or the one which is after deduction.
Kindly guide us in this matter.
Thanks in advance
@Chaithra
As its income from business/profession, ITR-4 needs to be filed.
He should declare whole amount on which TDS has been deducted. Fuel expenses can be deducted as business expenses in profit/loss accounts.
Hi Pankaj and Team,
I changed my company in March2012. Got my form16 till Jan12 salary. Got my Feb12 Salary and all dues in full and final settlement in May2012. I filed 2 form16s last year and paid my dues. I didnt receive form16 for FnF. Please advise on how to show that FnF amount and file my returns this year. I paid all my taxes as TDS this year.
Regards,
Anna
@Anna
If employer had deducted any taxes in FnF statement, Form-16 should have been issued for same. If no taxes have been deducted, Form-16 issue is not required by company.
You would need to add taxable FnF amount into this year's income as arrears and file returns after paying any due income tax, if any.
You may also claim some tax relief u/s 89 for these arrears.
Hi Pankaj and Team,
I read the following some where... It was my voluntary seperation from the company, does this have anything to do with my case?
"The following proviso shall be inserted in section 89 by the Finance (No. 2) Act, 2009, w.e.f. 1-4-2010 :
Provided that no such relief shall be granted in respect of any amount received or receivable by an assessee on his voluntary retirement or termination of his service, in accordance with any scheme or schemes of voluntary retirement or in the case of a public sector company referred to in sub-clause (i) of clause (10C) of section 10, a scheme of voluntary separation, if an exemption in respect of any amount received or receivable on such voluntary retirement or termination of his service or voluntary separation has been claimed by the assessee under clause (10C) of section 10 in respect of such, or any other, assessment year."
@Anna
I think, It should not be applicable to you as you would not be claiming exemption u/s 10C at the same time.
Hi Pankaj and Team,
When I contacted old company, they sent me form16 for FnF. I can see that tax has been deducted over there taking 2lac as base slab. so now I have 2 form16s where both are calculated as per tax slabs. Now how shall i file my returns. Do i need to add both head salaries and now calculate tax? can i fill taxes paid from both form16 as tds?
I think now I need not use arrears field... please suggest me on these 2 queries...
@Anna
If income from first employer has not already been included in Form-16 issued by second employer, you would need to add income under head salaries from both form-16 and mention same in ITR.
TDS deduction amount by both employers needs to be mentioned on TDS sheet in ITR.
Once you fill these, you can compute total tax from ITR sheet itself, by clicking on Calculate Tax button. If there is any tax payable, you first have to pay same and then mention challan details under self assessment tax section of ITR. You can then file returns.
While filing my income tax return for the assessment year 2013-14, being an NRI, should I show my NRI income in place specified to show exempt income? I trust, I should not as this is not an exempt income, but this income is tax free income..please guide.
@Navin
In case income is from NRE/FCNR account interest, you should show same in exempt income.
Dear sir,
I have query related to Capital Loss. This year I have started trading but I have met with net loss (considering overall year).
Here my query is "Do I need to declare the Capital loss in this year ITR, to take it forward" Or I can declare it whichever year Capital Gains are there?
Second query: Is there any exemption from Salary for Capital loss (like there in US $3000 exemption from salary for each year)?
@Sudha
You would need to declare capital losses in ITR in order to carry forward to next years.
There is no exemption available from salary for capital loss. Capital losses can only be set off against capital gains.
Thank you sir, Here I have another doubt in declaring the Shares.
I have done trading on many shares (like more than 50 types).
My Query: I need simply mention Capital loss value? or need to add item-wise (with Quantity) is required?
@Sudha
You can mention combined purchase and selling price, which would show net capital loss.
Also, another point, in case these trading were done intraday or in heavy volumes, you would be treated as trader and not investor.
In that case you would need to show it as business loss and not capital loss, and file returns using ITR-4 form (for income from business)
Thank you sir your further clarification.
What is the definition for huge quantity. I have done Intraday trading also, some times with quantity as 1000 (on total day) however in single transaction around 500 (with scrip price as Rs500). Will it be treated as Investment or business?
@Sudha
If you are trading in high volumes and mostly on intraday basis, you would be classified as trader.
Intraday trading would anyway come under business and you will have to declare loss/income as business loss/income.
Thank you very much for clarification.
So I will file ITR-1 and ITR-4 separately.
@Sudha
You need to file only ITR-4. One person can file only one return.
Thank you sir for your further clarification.
OK. I will file ITR-4 accordingly.
BTW, you also do consultancy? If so give me your Mobile number.
@Sudha
If you need paid services, please email us on services@pankajbatra.com
In the financial year 12-13 I got arrears for previous 4 years.
I have got the split up statement for those years. How can I file the returns?
Pl advice.
mahesh
@Mahesh
All this would be added to this year's income as arrears under taxable income from salaries.
You can claim income tax relief u/s 89 for this for extra tax payment.
Hi Pankaj Sir,
I have two Queries:
1) For the AY-12-13. I got the the Income tax Intimation U/S 143(1) with respect to the return of income filed by me for the Assessment Year 2012-13 around one month ago. Today I checked the Status of my Refund online and found there written "No Demand and No Refund" so I got confused because there is some amount in refund column that should be refund. So Now What Should I do? Whether I will get my refund back or not?
2.) There is a one field "Income Tax Ward /Circle" in the ITR1 form: As per your one post, this time I checked my ward/circle after putting my PAN Number...So now the problem is in AY 2012-2013, I took my colleague help to file the return online.. and there I saw we put the different ward/circle and the ward/circle which I saw after submitting my pan is different.. So Is this a problem?.. and for AY 2013-2014, Have I need to put the previous one or the one I found after submitting my Pan No.?
Please advice me
Regards
Mayank
@Mayank
1. If amount is less than Rs 100, its not paid by Govt. If its more than that, it should be definitely paid if intimation u/s 143(1) also shows the amount in income tax department version of computation. If refund is payable but refund/demand status on income tax efiling website shows No demand/No refund, you should file a rectification request or call their call center on for Rectification and Refund on: 1800 425 2229
2. Generally ward/circle is not an issue. You should use ward which is nearer to your current address, so that in case of a notice, you can visit them to clarify things. Its the ward you put in ITR that would process your returns. First time when you file returns, its aligned with a circle under which provided address comes, so unless you get it changed (by mentioning in ITR), it would remain same.
Hi Sir,
I am trying to file rectification request. But slight confused.. For the field "Latest Communication Reference Number:", I am filling the CPC no. as in the intimation I got. but for "Latest CPC order date" .. I am not getting, what to fill? Is that "Date of Order" field or the one "Date field" which is given below side CPC number?
Please advice me ..
Regards
Mayank
@Mayank
You should use "Date of order" field.
Hi Pankaj
I had submitted NIL refund return as refund was Rs 30. But I still rxd refund of Rs 30. I felt bad as I am sure processing, printing etc would have added to this. Where is Rs 100 limit mentioned. ??
@Sanjay
If you see 143(1) intimation, at end of intimation, in notes section, following line would be present:
The Refund, if any, is issued by State Bank of India on behalf of the Income Tax Department. Interest under section 244A of the Income Tax Act, 1961 is computed up to the date of issue of the refund. Refunds will be issued only for amounts exceeding Rs. 100.
Dear Pankaj,
I am working in a software company and having 4.5 lacs p.a. for FY 2012-13. I got Rs 9600/- p.a. as transport allowance. I don't have income from other sources. I want to know which ITR form I am supposed to fill as ITR 1 is only for those whose exemption income is less than 5000/-. What are components that are included in this exemption income. Should I have to fill ITR 2. Pls help. Is it mandatory to fill ITR?
@Swati
Exempt income here 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.
As your exempt income is more than 5000, you would need to file using ITR-2.
As your total income is below 5 lakhs in financial year, if only worked for single company in the year and bank interest income is below 10,000; you need not to file return.
But I have read in the newspaper that filing of income tax return is also mandatory for those who have annual income < 5 lacs from assessment year 2013-14. However, efiling is not mandatory. Kindly confirm the same. I worked in a single company and my bank interest is less than 10000. Please suggest if I can get exemption from filing return.
@Swati
Sorry for the earlier confusion.
Exemption in income tax return filing for below 5 lakhs income has been taken back as per statement by IT department on 23rd July, so you would need to file mandatorily.
Hi Pankaj,
I have one more query... What should I fill in Income tax ward/circle... where/how should I find exact details.
@Anna
If you don't fill income tax ward/circle details, by default existing details as per you PAN would be picked.
You can check current ward/circle on your PAN here: https://incometaxindiaefiling.gov.in/e-Filing/Services/KnowYourJurisdiction.html
If you think that this circle is not applicable anymore as you may moved to different city, you can mention ward/circle of current city in ITR to get it updated.
You can find this code on this link: https://tin.tin.nsdl.com/pan/servlet/AOSearch
Problem with Security certificate on nsdl website for epayment of tax. Message: "This Connection is Untrusted". Both in Firefox and IE. Have you experienced this before?
@Kavita
We didn't face this issue in Firefox, IE or Chrome at our end.
Hi,
I worked for a company for 9 years and switched to new one. I asked for Superannuation credit to my account. Now company has deducted 11% tds on superannuation. Its not part of my form 16.
Also during e-file, I can see 2 records in TDS section. 1 for salary and another for superannuation.
My question is Should I Include Superannuation amount in my Gross total income? Because if I do so, my tax payable amount increases by 10K.
Or should I delete the superannuation TDS record?
PLease guide.
Thanks
Aditya
@Aditya
The amount received as superannuation is exempt from tax if it is paid on death, retirement, in lieu of or as annuity. So I think, in your case it would become taxable.
It would be added to taxable income and taxed as per slab rates.
You would need to pay remaining tax, if applicable after TDS.