Income Tax Return (ITR) is a statement whereby the taxpayer discloses/reports the annual income, annual expenses, investments or any other deductions have been made in a financial year under consideration. The process of filing ITR online through the income tax web portal is known as e-filing of ITR.
As we know, the Income Tax Department rolled out a new web portal, in order to make the income tax and its returns filing process swift and uncomplicated. It was claimed by the IT Department at the time of launch that the new income tax portal will help in faster processing of income tax returns and quicker refunds. However, the portal was not working in the initial 2 months and still it faces a lot of technical issues due to which ITR filing process has become complex instead of easy.
In this blog, we will guide you through the process of e-Filing of ITR.
Table of Contents
Steps to file ITR online
Visit the new income tax portal
The first step is to open the website i.e. https://www.incometax.gov.in/iec/foportal. You will be directed to the home page of the income tax portal. It will manifest as follow –
Login on to the portal
Since the ITR Filing service is a post login service therefore, the next step shall be to login in to the portal. If you are already registered on the income tax portal then you can login through the existing username and password and if you are a new user then you need to first register on the portal for creating a username and password. You will find both the login and register buttons on the above extreme right corner of the home page, so click on the appropriate option.
When you will click on Login option then you will be required to enter your username and password as showing in the image below. The point to note here is that the PAN shall always be the username.
And if you are a new user then click on register you will be directed to the registration form which has 4 steps. Firstly, choose the taxpayer as you need to file your ITR.
Thereafter fill your PAN and click on validate then it will show that PAN validated successfully. Thereafter, you will be asked to choose whether you want to register as an individual taxpayer. Lastly, click on continue to proceed on next step.
Thereafter, you need to fill basic details that are Name, Date of Birth, Gender and Residential Status. It must match with the PAN Card.
Next, Click on continue. Then fill the contact details and address as shown in picture below and click on continue to proceed further.
Lastly, Enter the OTP received on both given phone number and mail Id and create the password to login from next time.
Once you have logged in on to the portal, now you can e-file your ITR easily. Now, click on e-file tab as shown in the below picture, a drop-down options will appear. It will have 2 options i.e. Income Tax Returns and Income Tax Forms. Take the cursor on the ITR then again drop-down options will appear, click on File ITR option to move on the next step.
Thereafter, you will be directed to filing section. Choose the assessment year and mode of filing ITR and click on continue.
Thereupon, you are required to select the status applicable on the assessee i.e. Individual, HUF or Others. Subsequently, the continue option will get enabled and thus continue to proceed further.
Now, you will have to choose the ITR applicable on the assessee. For this, the portal will assist you as you will choose any ITR it will show the details of its applicability and accordingly choose your ITR Form and move on to the next page.
This step is very important as it will decide the accurate filing of ITR and this is why assessee seeks experts’ assistance for ITR Filing.
Let’s choose ITR-1 for further steps. ITR-1 is mainly applicable on salaried persons.
On the next page, again the applicability of ITR Form will be shown in following manner. Click on Let’s get started to move further.
On the next page, you are required to choose the reason for filing ITR. There are 3 options available choose according to your requirement.
The next step is to provide the following details –
- Personal Information
- Gross Total Income
- Total Deductions
- Tax paid
- Total tax liability
After filling all the details, confirm the tabs to proceed on next option. Lastly, click on proceed for next steps.
Thereupon, you are required to confirm the return summary. In this, check the details thoroughly before final submission and make sure all the details are true and correct to avoid any complications.
Thereafter, the preview of your return will be shown, you can also download the return preview for future. Thereafter, click on proceed to validation; this option is available at the end of the preview.
Thereafter, complete the e-verification through OTP and submit the return and your ITR is filed.
Every person whose annual income exceeds the maximum exemption limit is required to file ITR mandatorily.
If you are looking for a Team of Chartered Accountants to file accurate ITR in-time and to guide you through the process then contact your Trustworthy Advisors Manthan Experts by dialing at +91-9643-969-969 or mail at firstname.lastname@example.org.