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