Here is how you can file your ITR online
People with salary income who are eligible to use ITR 1 or ITR 4 form can file their tax return completely online via the income tax e-filing website without having to download any form/software. Follow these steps:
1. Create your e-filing account on the Income Tax website https://incometaxindiaefiling.gov.in and register yourself. Registration will be completed by clicking activation link sent via email and providing one-time password (OTP) received on the mobile. Click on the 'Registered user' if you have already registered yourself on the website.
Download the Form 26AS and Form 16. Form 26AS is a consolidated tax statement which summarises the amount paid against each PAN number.
2. Next, select the relevant form and assessment year for which the return has to be filed. Here taxpayer can pick his address either from the PAN database, from previously filed return or fill in new address. The department here asks you whether you want to digitally sign your return. If selected 'Yes', you are required to upload your signature which needs to be pre-registered at the income tax website.
3. Click on the 'Submit' button and the website will redirect you to the page for filling the form selected by you.
4. ITR V will be generated. Sign the ITR V in blue ink and send it to the Income Tax Department - CPC, Post Bag No - 1, Electronic City Post Office, Bengaluru by ordinary post or speed post within 120 days.
5. Check your emails for an acknowledgement of the receipt. You will also receive an SMS on your mobile number acknowledging the receipt.
Who has to file?
Every person whose gross total income exceeds the taxable limit must file an Income Tax Return (ITR)
Who has to e-file?
* Individuals & HUF having total income exceeding Rs 5 lakh or claiming any refund in the return (excluding individuals of the age of 80 years or more who are furnishing return in Form no. ITR-1 or ITR-2).
* Individual or HUF, being a resident other than not ordinarily resident, having any foreign asset/income or claiming any foreign tax relief.
* Persons filing ITR in Form no. 3, 4, 5 or 7.
When to file?
Persons whose accounts are not liable for audit must file their Income Tax Return on or before July 31.
Must haves before starting
Bank Account details
Good to have
Income tax e-filing password
Investment details (eg: LIC, PPF, NSC)
Home loan details
In case you are still confused, you can visit ClearTax website and seek assistance from CAs or file it online. Here are the steps
Step 1: Login to your ClearTax account.
Click on ‘Upload Form 16 PDF’ if you have your Form 16 in PDF format. If you do not have Form 16 in PDF format click on ‘Continue Here’
Step 2. Enter your Name, PAN, DOB and Bank account details.
Step 3. Fill in your salary, employee details (Name and TAN) and TDS.
Step 4. Enter investment details under Section 80C(eg. LIC, PPF etc., and claim other tax benefits here.
Step 5: If you have non-salary income,eg. interest income or freelance income, then add tax payments that are already made. You can also add these details by uploading Form 26AS.
Step 6: If you see “Refund” or “No Tax Due” here, Click on proceed to E-Filing.You will get an acknowledgement number on the next screen.
Step 7: Once your return is file E-Verify your income tax return
Implications for not filing within the due date
If you are unable to file the returns on time, you can file a late return within a year from the end of the assessment year, provided an assessment year has not yet begun. However, its important to note that if return is not filed within the due date, it cannot be revised. Moreover, there will also be interest implication of 1 per cent of the tax due under Section 234A and you will not be able to carry forward losses from business and profession or capital gains.
Non-residents,who are claiming refund & not having bank a/c in India may furnish details of one foreign a/c in ITR for issuance of refund.
— Income Tax India (@IncomeTaxIndia) July 25, 2017
The linking of Aadhaar number with the Permanent Account Number (PAN) of a taxpayer has also been made mandatory for the filing of an ITR, beginning July 1.
The department has also asked taxpayers to declare cash deposits made in bank accounts aggregating to Rs 2 lakh or more, post-demonetisation between November 9-December 30 last year, in the ITRs.