To file the income tax returns, you need a follow a set of procedures and have the necessary documentation in hand. You can either seek the help of a professional in Delhi to file tax returns or you can register yourself in the official website of the income tax department and get the process done.
The process of electronically filing income tax returns is known as e-filing. You can either seek professional help or file your returns yourself by registering on the income tax department website. The due date for filing tax returns (physical or online) is July 31st. You should have your Form 16, other income details, all bank account numbers, IFSC codes, and personal details in place before proceeding.
Steps to follow to file returns:
First, log on to incometaxindiaefiling.gov.in and register on the website. 1. Your Permanent Account Number (PAN) is your user ID. 2. View your tax credit statement or Form 26AS. The TDS as per your Form 16 must tally with the figures in Form 26AS. 3. Click on the ITR forms and choose the financial year. 4. Download the ITR form applicable to you. If you are exempt income exceeds Rs.5,000, the appropriate form will be ITR-2. If the applicable form is ITR-1 or ITR 4S, you can complete the process on the portal itself by using the ‘Quick e-file ITR’ link—this has been explained in the next section. 5. Open Excel Utility, which has to be downloaded, and fill out the form by entering all details using your Form 16. 6. Check the tax payable amount by clicking the ‘calculate tax’ tab. 7. Pay tax (if applicable) and fill in the challan details. 8. Confirm all the data provided in the worksheet by clicking the ‘validate’ tab. 9. Generate an XML file and save it on your desktop. 10. Go to ‘upload return’ on the portal’s panel and upload the saved XML file. 11. A pop-up will be displayed asking you to digitally sign the file. In case you have obtained a digital signature, select ‘Yes’. If you do not have a got digital signature, choose ‘No’. 12. The acknowledgment form, ITR Verification (ITR-V), will be generated that can be downloaded by you. 13. Take a printout of the form ITR-V and sign it in blue ink 14. Send the form by ordinary or speed post to the Income Tax Department—Central Processing Center (CPC), Post Bag No. 1, Electronic City Post Office, Bengaluru 560 100—within 120 days of filing your returns online. Click here to find Income Tax Rates in India
Steps to file ITR 1/ITR 4S online:
You have the option to submit ITR 1/ITR 4S forms by uploading XML or by online submission 1. Login to e-Filing application 2. Go to ‘e File’ -> ‘Prepare and Submit ITR Online’ 3. Select the ITR form ITR 1/ITR 4S and the assessment year. 4. Fill in the details and then click the submit button 5. After submission, the acknowledgement details are displayed. 6. Click on the link to view or generate a printout of acknowledgement/ITR V form Click here to find out what to do in case you’ve receive an Income Tax Notice
Of course, there is no denying that the online income tax return submission is quite convenient. But you need to understand all the aspects involved in the process and you need to have the forms handy. You can always browse the internet for any help that you may need. But remember to submit the same on time.