How to file income tax returns: Here are step-by-step process to help you file ITR filing

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How to file income tax returns: Here are step-by-step process to help you file ITR filing
How to file income tax returns: Here are step-by-step process to help you file ITR filing

New Delhi : The Income tax department has already notified the income tax return forms to be used for filing returns for FY 2016-17. The deadline for this year Income Tax Return is August 5.

There are two ways to file the Income Tax Returns online. Under one method you can download the applicable form from the income tax website, fill the form offline, save it, generate an XML file and then upload it. 

Another method to file Income Tax Returns online is to enter the relevant data directly in an online form and then submit it. The second method is applicable for ITR 1 and ITR 4 forms only.

Here are the Some Steps to file Income Tax Returns fining 2017:

Step 1: Documents Required for Filing the Income Tax Return

  • Aadhaar card
  • Medical expenditure receipt on self or any other dependent
  • Bank Account details
  • PAN card
  • Home loan details and loan certificates
  • Form 16
  • Investment details viz LIC, PPF, NSC, NPS, Health Insurance, etc
  • House rent receipts

Step 2: Register on Income Tax website

  • Click on New to e-Filing
  • Select your User-Type
  • Enter basic details like your PAN, Surname, Middle name, First name and Date of Birth (DoB)
  • Complete your registration by filling the Income Tax Registration Form
  • Once your Income Tax registration is successful you'll get the login Id and password on your registered email. 

Step 3: Income Tax Return e-filing

  • Login to Income Tax website, using your User Id, Password, and Captcha Code
  • Then Click on "Prepare and Submit Income Tax Return Online".
  • Select ITR 1 Form (Sahaj Form): If you are an Individual with income from salary, pension, family pension, lottery, interest and other sources earning up to Rs 50 Lakhs

Step 4: Fill in the details viz

  • Part A – General Information
  • Part B – Gross Total Income
  • Part C – Deductions and Taxable Total Income
  • Part D – Computation of Tax Payable
  • Part E – Other Information
  • Schedule IT – Detail of Advance tax and Self-Assessment Tax payments
  • Schedule TDS – Detail of TDS/TCS

Step 5: If you have digital signature, then select the 'digital signature' option and click on the 'Submit' button. The website will ask you to upload the pre-registered signature. Once the signature is uploaded successfully, the process of submitting ITR online is completed

Step 6: If you don't have digital signature, then you need to verify your return using one of the options provided by the income tax department. After you verify your return, your online income tax return process is completed. 

Step 7: In case of a refund, you will get the refund check on your registered address

Step 8: In case where tax is payable, you can make the payment via Debit Card or Net Banking online on tax information network (tin) of the Income Tax Department.

Input from Agencies