Filing of an income tax return in India is no more a droning task, we can easily analyse these days that how large number of taxpayers 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 wait for your income tax filing. 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-
- Aadhaar (Linked to PAN)
- Bank Account details
- Computing income from salary
- Rent receipts for claiming HRA
- Form 16
- 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.