e filing income tax

e filing income tax

To file your income tax return (ITR) online, also known as e-filing, follow these steps:

  1. Register/Login on the Income Tax Department Portal:
    • Visit the official Income Tax Department e-filing portal at https://www.incometaxindiaefiling.gov.in.
    • If you are a new user, click on the "Register Yourself" option and follow the registration process. If you are a returning user, login with your credentials.
  2. Choose the Appropriate ITR Form:
    • Select the relevant Income Tax Return (ITR) form based on your income sources and financial situation. Common ITR forms include ITR-1 (Sahaj) for salaried individuals, ITR-2 for individuals and HUFs not having income from business or profession, and so on.
  3. Prepare your ITR:
    • Fill in the required details in the ITR form. This includes personal details, income details, deductions, taxes paid, and other relevant information.
    • Make sure to accurately report all income sources, such as salary, interest income, rental income, capital gains, etc.
    • Utilize Form 26AS to verify TDS details and reconcile them with your income.
  4. Calculate Tax Liability:
    • After entering all the necessary details, the portal will automatically calculate your tax liability or refund amount based on the information provided.
  5. Verify and Submit ITR:
    • Review all the details entered in the ITR form carefully to ensure accuracy and completeness.
    • Once you are satisfied with the information provided, proceed to submit the ITR.
    • You may need to digitally sign the ITR using Aadhaar OTP, EVC (Electronic Verification Code), or DSC (Digital Signature Certificate), depending on your preference and eligibility.
  6. Generate Acknowledgment:
    • After successfully submitting the ITR, an acknowledgment will be generated. Download and save this acknowledgment for future reference.
  7. Verify ITR:
    • After submitting the ITR, it is essential to verify it within the specified period to complete the e-filing process. You can verify your ITR electronically using Aadhaar OTP, EVC, or DSC.
  8. Track Status:
    • You can track the status of your e-filed return on the Income Tax Department portal. Once processed, you will receive an intimation regarding the acceptance or rejection of your ITR.
  9. Keep Records:
    • Maintain a copy of your filed ITR, acknowledgment, and supporting documents for future reference and audit purposes.

It is essential to file your income tax return within the specified due date to avoid penalties and compliance issues. If you have complex tax situations or uncertainties, consider seeking assistance from a tax professional or chartered accountant.