Every taxpayer
of the country should aware of the fact that paying taxes is the sign towards
paying the liabilities to the income tax authority. And as the time of
submitting income tax returns is already upon us and we can see a huge mad rush,
where individuals have already pulled up their socks in subject to e-file ITR for this FY 2018-19.
Nevertheless,
income tax return filing is a no more hectic task, hence the income tax
authority has made it very relaxed for the tax filers to file income tax return online. Now
you can easily upload your form 16 within a few minutes without waiting for too
long!
For efiling of income tax return online
you need to submit all your basic details like Name, Address, investments, PAN
Number, AAdhaar Number, Bank Account details and other perquisites data. To make
income tax return filing process easier, there are an application like All India ITR, my IT return and others
which lets you file an income tax return from your phone.
It provides individuals with various income tax return tools with assured and
guaranteed security so that you can experience the best e-filing experience.
How to file
income tax return online?
The income tax
department has released an e-filing
portal for all ITR form for the financial year 2018-19. For starting
with income tax return online you should have all the required documents in
your hand.
Here are the
following steps to efile income tax return online-
·
Go to Income Tax efiling
website
·
The next step is if you're new
to e-filing, then you have to register yourself on the portal.
·
In case you're already
registered, login to your income tax account by providing User ID, Password and
Captcha.
·
After income tax
efiling login you will be redirected to a page where you can start
filling out the form as per the income tax return Form eligibility criteria.
However, before you begin o filing the form, make sure you read the general instructions
carefully to avoid any mistakes.
·
Once you are done with the
instructions, you can start filing in the required information in different
tabs i.e. General information, income details, tax details, taxes paid and
verification and 80G in the ITR forms.
·
Before submitting the form,
recheck it to avoid any errors
·
Once you click on submit, your
ITR will be uploaded and you will be required to verify the return.
·
You can verify your return
electronically by using Aadhar OTP or EVC or in fact an offline method by
sending a signed printout of the ITR V to CPC, Bengaluru within 120 days from
the date of filing.
·
Once your return is
successfully uploaded, an Acknowledgment or ITR V will be sent on your registered email address.
·
Lastly, after you verify your
ITR, the I-T department will
process it and will notify you about through an email on your registered email
ID and a SMS on your registered mobile number.
Who is
required to file ITR?
According to
section 139(1) of the income tax act 1961, any salaried employee whose total
income exceeds income tax exemption limit is liable to file an income tax
return. Along with this, any HUF, private or public company based out of India,
firms, AOP (Association of Persons) are also eligible to declare net
profit/losses of the year and pay their taxes by ITR filing
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