Income tax efiling – The last date for filing income tax returns 2020 is September 30…
Many People may be filing returns through their CA, But filing e-returns is the fastest and more convenient to citizens. E-returns can file either through the Income Tax Department’s website or through the website of e-returns intermediaries. In the IT department website this facility free of cost, the ERIs charge a small fee for the same. Filing e-returns is not a very difficult one, follow the following steps to Submit Income tax efiling.
File income tax return in online
1. First Log on to the Income Tax Dept. Website www.incometaxindiaefiling.gov.in to filing taxes online. Register yourself using your PAN card number, which will act as your user ID. Under the ‘Download’ menu, go to e-filing and select the appropriate ITR form. Download ITR-1’s return preparation software.
2. Open the downloaded Return Preparation Software (excel utility), follow the instructions and enter all the details using your Form 16. Compute tax payable by clicking the ‘Calculate Tax’ tab. Pay tax and enter the challan details in the tax return (not applicable if your tax liability is nil).
3. Confirm the details entered by clicking the ‘Validate’ tab. Proceed to generate an XML file, which will be automatically saved on your computer. Go to ‘Submit Return’ on the portal’s left panel and upload the XML file after selecting ‘AY 2018-2019’ and the relevant form. You will ask whether you wish to digitally sign the file. If you have obtained digital signature select ‘Yes’. Otherwise choose ‘No’. After submission message about successful e-filing is flashed on the screen, the process is complete.
Income tax efiling
After successful submission acknowledgement form – ITR-Verification (ITR-V)-will be generated and you can download the same and it will also email to your registered email ID.
Take a printout of the form ITR-V, sign it and send it by ordinary or speed post to the Income Tax Department-CPC, Post Bag No-1, Electronic City Post Office, Bangalore – 560 100, Karnataka, within 120 days of tax efiling of your e-return. The IT department will send you the acknowledgement by email is the final step in the income tax return process.
Always keep eye on your bank statements, Form 16 and 16As, proof of other exemption claimed documents even after you’ve finished e-filing and got a receipt for tax return.
File income tax e-return in online in https://incometaxindiaefiling.gov.in/portal/index.do