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
CAN ICLAIM MY N R O ACCOUNT TAXRTURN WHICH IS 30 PERSENT WHICH FORM CAN TELL ME PLEASE
Pankaj, This is very informative for me, Can i file Tax online for previous 2 years, with NRI Status.
@Rajesh
Online income tax return filing does not work for assessment years which have ended. So you may not be able to file income tax return for past years online.
Hi Pankaj,
Thanks for providing a tool to calculate and file income tax returns.
In the excel worksheet, can you please let us know the section ( under Deductions or so) to enter the Housing loan interest?
Thanks
Balraj
In ITR-2, Goto House & Prop Tab. Schedule HP-g has provision to declare Hsg loan interest.
@Balraj
You can use row 59 for home loan interest in the calculator for FY 2011-12.
Hi Pankaj,
Some how I do see Row 59 in worksheet 'Income Details' in ITR-1 as "80U" under Deductions under Chapter VI A!.
Not sure if I have to use ITR1 form for claiming self occupied housing loan interest u/s 24? Please let me know.
Thanks
Balraj
Balraj - You use ITR-1 if you have Income from Only One House & Prop. If you have more than one house, then you have to use ITR2.
In ITR-1, for self occupied house, only Int on Home Loan is allowed as deduction upto Rs 1.5L. That you can put in Row 42 - Income from Hse & Prop with a Negative sign indicating that it is a Loss.
@Balraj
Sorry for the confusion earlier. I was referring to income tax calculator excel for Row 59 and not the income tax return filing excel.
In return filing excel, Row 42 would be used as suggested by Mr Sanjay too.
Dear Pankaj,
I am appriciate your effort to resolve the income tax queries. It is really good work that you are doing.
I need your help. I bought home in yr 2009 but i got the possesion in this financial year. I got to know that i can claim the interest
paid by me before posseion but this interest can be claim for next five year in equal.
I am filing my return online & I am able to fill nearly all the information except pre-possession interest.
I am not able to trace out in which sheet i should enter this interest. I tried on sheet CYLA-BFEA/CFL sheet but not able to succeed as
whenever i am clicking on compute set-off it is resulting in all of these losses to carry forward.
I have three question....
Is carry forward losses is different than claiming interest for next five year??
Where & how to take care of this pre-possession interest in the excel software???
How IT department will know in next year my carried forward pre-possession interest?? is there anything which i can give as a reference for claiming interest in next year like carry forward losses???
Regards
Jeevan
Pre EmI Interest is to be shown U/S 80C. This is within the overall 80C limit of Rs 1L.
Also Pl dont confuse PreEMI interest that is charged by Bank with what is allowed as deduction. You need to calculat ethe Pre EMi int from Date of Loan take for construction till consruction is completed eg Feb 2010 to Apr 2012. Bnk may charge Pre EMI int till EMI starts & that has no relation to sec 24.
@Jeevan
Interest paid to bank before possession of house can be claimed in five equal installments starting from year of possession.
This one fifth interest amount needs to be added in every years interest deduction u/s 24 and to be claimed. Please note that maximum amount of deduction would remain 1.5 lac only for self occupied house.
Dear Pankaj,
How to cliam LTA amount while filing the income tax return online? My main concern is where to fill the LTA details in form and get tax refund.
Regards,
Vishal
@Vishal
As such, LTA claim cannot be made in income tax return form. As its a employer provided benefit, it should have been claimed with employer for tax benefit.
Only way out is to show less taxable income in ITR form (by deducting LTA amount from taxable income) and submit return asking for refund of extra amount. But while checking with form-26AS/form-16, income tax department may find it incorrect and may raise further tax demand. In that case you will have to prove with tax department why you should get LTA tax benefit and why same was not submitted to/accepted by employer.
Thanks Pankaj, for quick response.
Actually in my company LTA is a one of salary component and it is paid monthly along with salary but my employer not giving LTA tax benefit at year end, according to their rules/ process employee has to take LTA tax benefit while filling IT return by him/herself.
So should I consult any CA for this or I can file online myself with showing less taxable income in ITR form ( As you mentioned in your previous post)?
Thanks once again for your guidance!!!
Regards,
Vishal
@Vishal
Sorry for replying late!
If employer does not provide tax benefit of LTA claims, then there is no sense of keeping it as a salary component.
LTA is employer provided benefit and employer must only provide tax benefit for same.
In case you decide to file income tax return after reducing taxable amount by LTA, income tax department may ask for reason for mismatch in taxable income as per form-16 and ITR.
Hi Pankaj,
I am in US for last 2 years, this year my Indian salary is 0 so my company has not provided me Form 16, my bank has dedcuted TDS for FDs in NRO account, I tried to file return using a site, but if I am selecting my company as employer it is asking me Form 16, and not accepting 0 amount. Last year I filed return with same site and using form 16 of company and form16 A from my bank. do you have any suggestion for me that how I can apply fro tax return.
Thanks in advance
@AMit ...Not sure which 3rd party site you are using. Pl goto http://www.incometaxindia.gov.in. Ob Left side - you will see a link - File return online.
Use that link & goto new page. Download ITR-1 sw & use that to file your return.
As you have only Interest income, show that under Income from other sources. Fillup all other details. CLick Validate on each sheet. Once all sheet show 'OK. Click caluclate tax. It will run a script to workout your tax. Post that click 'generate xml'.
Now upload this xml file to incometax website & follow instructions.
@Amit
There is no need to show employer income as you did not have any income from salaries in India.
You need to show only income under other sources (bank interest/fixed deposits etc) and file income tax return with ITR-1.
Dear Pankaj,
We have a resistered (Pvt Ltd.)company as per company law act with two partners with equal sahring. Which we registered last year and also having PAN card in the name of our company. We both are having DIN numbes as well. But we were never able to start the company due some or other reason. We both partners are working in diffrent companies and withdrawing salary from respective companies and filling incom tax return as form 16 (for my self) and form 16A (for other partner). But never open any bank account in the name of company.
Now we want to fill incom tax with no incom, how we can do it?
@Aditya
We don't have expertise in income tax returns for companies or business income. Please ask this on a different forum.
I am a visiting faculty NOT permanent faculty in some MBA institute and earn remuneration from them apart from interest from various FD's Kindly confirm what would be employer category options are OHT/NA/PSU/GOV
If You dont have a Form 16, your category will be 'Others'. You can use ITR-1 & show all income as 'Other Income' which will include your FDs & remuneration. You have not indicated the quantum of this renumeration. That would have helped in understanding the impact.
Sorry.. It is NA for you wout Form16.
@Anand
Adding to reply from Sanjay.
If this income is not as salary, but as consultancy, then you would need to file ITR-4 due to income from business/profession. You should have received form-16A for TDS deduction for same.
Only bank/FD interest and some other similar sources income can be added to income from other sources, but not such income.
Annual Income : 1.97 lakh
Age : 62 years
Gender : male
Souce of income : All from FD, no other source of income
Do I need to fill the IT return? If Yes which ITR form needs to fille
For Sr Citizen between age 60-80 Yrs, Basic exempion limit is Rs 2.5L. So you dont need to file a return unless you have TDS on your FD. If you hve TDS, then you can file for Refund in ITR-1.
Thanks Sanjay for your response, There is no tax deducted at source(by banks) as I filled form 15H in advance. In that case I need not to fill the return. - right ? or shall I fill the form just for rescords?
@Ashish...No. You are not reqd to file Return as your Taxable Income is Less than Basic exemption limit.
@Ashish
As total income in year is below taxable limit for this age (2.5 lakh for FY 2011-12), income tax return filing is not mandatory.
But if he needs refund for TDS deducted by bank on Fixed deposit, he would need to file ITR-1.
sir
i had filed return for the year 2011-12 online. now i need a generated xml file for the year 2011-12. how i obtain ? can i get fron income tax website? how?
How can you file return online wout xml file?
When you use IT return preparation excel sheet for ITR-1 etc, on the first sheet where you input your name & address, there is a 'Generate' button. First you need to press 'Validate' on all sheets. If all sheets say 'OK', then press 'Calculate tax' button on first sheet. Once tax is calculated & you have paid all taxes & updated the BSR codes etc, Press 'Generate' button to generate xml file. It will be saved on your PC. Now login to incometaxefiling.gov.in website using yoru PAN no as user id & pwd which you have created earlier. Select upload file for AY2012-13 & upload xml file. Post successful upload you will get an email with your Ack. Take a printout of this ack & post to IT cell at Bangalore. Ack file has pwd as " your Pan + Date of birth"..all in small letters & not capital
@Saikothai
XML file should be with you only as you filed it online.
There is no option on income tax website to download it back from your account.
Once XML is uploaded, only ITR-V can be retrieved back.