financial services · Income Tax · income tax return

Verify pre-filled details carefully before filing ITR for the FY 2018-19

Verify pre-filled details carefully before filing ITR for the FY 2018-19 (1)

As per the recent announcement by the income tax authority, the taxpayers who fall under the category of ITR 1 and ITR 4 is eligible to carefully verify pre-filled ITR for the financial year 2018-19. However, the CBDT has declared that soon they will pre-filled information in Income Tax Return forms. On the other hand, it may be noted that for the assessment year 2019-20, ITR-1 and ITR-4 forms have already filled the basic details of the tax assessee.

Besides, some employers are yet to issue form 16 because the CBDT has extended the last date for employers to issue the form to 10 July 2019. Keeping in mind the fact that pre-filled information will only be accessible on ITR 1 and ITR 4 if you file the return completely online on the department’s e-filing website. Also, the form will not have pre-filled information if it is downloaded in Excel or Java format.

What is pre-filled income tax return form?

Earlier, the tax department has made an announcement to simplify the procedure of filing the income tax return. Basically, pre-filled XML is a utility provided by the department through which taxpayers personal information for TDS will be automatically filled in ITR such as Name, PAN details, DOB, status, TDS on Salaries, TDS on other than Salaries, TCS Details. Moreover, there is a fundamental step starting from identifying the ITR form as per your eligibility to file income tax return, after this, you can download the offline XML utility of the chosen form from the income tax e-filing website.

How to download the pre-filled ITR XML data?

Follow these steps to download the pre-filled XML data from income tax efiling site-

  • Login at income tax India e-filing portal
  • Go to download tab and click on “download pre-filled XML.
  • Select the Assessment year in a new screen and click submit button.
  • Save the XML file in your computer

Once you download the pre-filled XML file, open the earlier chosen ITR offline XML utility (Remember to Enable macro in Excel utility and click all the pop-ups one by one).

Though this is one of the most necessary steps taken by the tax authority. It has made ITR filing easy for the citizens of India, and hence, there are less chances to make any mistakes or put any wrong information while filing income tax return. However, one should have the accountability to properly verify the information before submitting it. Thus, before filing the tax returns make sure that you’ve rechecked all the pre-filled information, mainly TDS as per form 26AS.

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