Filing of an
income tax return in India is no more a droning task, as we can analyse these
days that there are a large number of taxpayers who are registering on ITR
filing website incometaxindiaefiling
login, like every year. Although, with India embracing the digital
world, it is, therefore, offering a platform such as ITR filing applications where individuals can easily file their ITR without
any hassle. Moreover, the CBDT has already announced the last date for e-filing
which is 31st July 2019. Hence, there
are no more queues to interact with the income tax
department. You just need to start with registering on the income tax
India efiling login, website.
Types of e-filing
Basically, there
are three basic ways to file income tax returns electronically-
How to do E
filing of Income Tax in India?
·
The foremost step is to
register yourself on an income tax
return filing portal. For this, you'll have to provide Permanent Account
Number (PAN), Name and Date of Birth.
·
Secondly, the next step is to
download a relevant ITR Form available to you.
You can use this
following information to select any of the ITR form as per your eligibility
criteria-
· ITR 1- ITR-1 is for individuals having income from salaries, one house
property, other sources and having total income upto Rs. 50 lakhs.
·
ITR 2 is for Individuals and HUF not carrying out business or profession
under any proprietorship.
·
ITR 3 is for individuals and HUFs having income from a proprietary
business or profession
· ITR 4 is also known as Sugam form, hence this form can be used by
individuals who have presumptive income from Business & Profession.
What are the
documents you need when you e-file ITR?
While filling
out the ITR form online, it is advisable to keep these documents-
·
PAN
·
Aadhaar (Linked to PAN)
·
Bank Account details
·
Computing income from salary
Salary Slips
·
Rent receipts for claiming HRA
·
Form 16
Claiming
Deductions
·
Interest certificates from
savings and deposits account
·
Insurance and home loan details
Details about
investments liable for deductions
Any other proof
of income like Income from house property, Income from capital gains
What’s the
next step after you’ve e-filed your income tax returns?
After you submit
the return, you’ll receive an acknowledgement in the form of ITR-V. There are
two ways to verify the return.
If your Aadhaar
card/number is linked to your PAN, individuals can self-verify their returns.
·
This is done by submitting an
Electronic Verification Code (EVC) generated through the e-filing portal of
Income Tax Department.
·
Taxpayers can send the ITR-V to
the Income Tax Department in Bangalore via post within 120 days from
date of e-filing to complete verification process. If you are eligible for a
tax refund, you will soon get the tax refund credited directly to your bank
account.
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