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Income Tax E Filing

ITR Filing 2020

Last Updated 13th Jul 2020

  • ITR filing can be done online and offline.
  • An individual with an annual income of ₹ 2.50 Lakh and above can file ITR.
  • Aadhaar and PAN linking is mandatory for ITR filing.
  • PAN, bank statement, Form 16A, Form 26AS, advance tax receipt, investment and loan statements are some of the important documents for Income tax e-filing.
  • Covid-19 Relief Atmanirbhar ₹ 20 Lakh Crore Package ( 13th May 2020 ): As per the Government annoucement on 13th May 2020, the due date of Income Tax Returns for FY19-20 has been extended from 31st July, 2020 to 30th November, 2020. news
INCOME TAX CALCULATOR

Income Tax Filing

Each year individuals with an annual income of more than ₹ 2.50 Lakh are required to file a return (income statement) with the Income Tax Department of India. An individual or the assessee is required to file the return by 31st July of the assessment year. It is a general observation that, on most occasions, the government extends this last date once or twice. However, it should be noted that delaying the filing of return attracts penalty; thus, it should be avoided.

Documents required for e-filing of Income Tax Return

As you prepare to calculate your tax liability and file your tax return, first collect and keep the following documents ready for reference. Note that you do not need to attach any supporting documents with your income tax return filing. The documents are required for the accurate computation of your income and to furnish the correct information in the calculator.

  • PAN number
  • Last year's ITR
  • Bank statements of all your bank accounts including those of minors whose income is to be clubbed with yours
  • Form 16 (tax deduction certificate) issued by your employer. In case you changed your job during the year, keep Form 16 issued by all your employers
  • Form 16A (TDS certificates) issued for tax deducted on income other than salary such as bank interest, interest on bonds
  • Form 26AS - Statement of tax deducted and deposited on your name by your employer, others, advance tax, and self-assessment tax
  • Tax deposit receipts for advance tax and self-assessment tax paid by you. Note that in case your net tax liability after TDS is more than ₹ 5,000 in a year, you are required to deposit advance tax every quarter. For more on advance tax, refer to MyLoanCare Advance Tax Guide
  • Challan 280 for taxes paid during a financial year
  • Annual statements of all your mutual fund and share trading accounts
  • Home loan tax deduction certificate issued by your bank for the principal repaid and interest paid
  • Receipts of tax-saving investments made such as PPF, NSC, LIC, life insurance, medi-claim, NPS, ELSS
  • Details of tax-free income received during the year such as interest on tax-free bonds, long term capital gains on equity, agricultural income.

How to File Income Tax Returns?

Income tax filing is a simple process. You can do so by just logging into IncomeTaxIndiaeFiling.gov.in. Here are some simple steps to follow for Income Tax e-filing:

  • You are required to register yourself and create your account by using your PAN number (Permanent Account Number) and password. Your PAN number will be used as your username.
  • After creating your account, go to log in to the e-filing portal by entering your PAN, password, captcha. After that, click on 'Login'.
  • Now, click on the 'e-file' menu and then click on the 'Income Tax Return' link.
  • You will be directed to the Income Tax Return Page. Here the PAN will be auto-populated. You need to select the 'Assessment Year', 'ITR Form Number', 'Filing Type' as 'Original/Revised Return', and then select the 'Submission Mode' as 'Prepare and Submit Online'.
  • Now click on 'Continue', then read all the instructions carefully to fill all the relevant fields of the Online ITR Form.

Note: Click on the 'Save Draft' button periodically to save your ITR details as a draft and avoid rework or loss of data due to session timeout. The saved draft is available for 30 days, or till the return is filed or til, there is no change in the XML schema of the ITR, whichever is earlier.

  • Now, choose the one of the verification option in the 'Taxes Paid and Verification' tab, to verify the Income Tax Return;
    a) I would like to e-verify.
    b) I would like to e-verify later, within 120 days from date of filing.
    c) I would not like to e-verify, instead send the ITR-V through normal or speed post to "CPC, Income Tax Department, Bengaluru, 560500, within 120 days from date of filing.
  • The next step is to click on the 'Preview and Submit' button.
  • Verify the data entered in the ITR, and then 'Submit' the ITR.
  • Next, you can do the e-Verification by choosing 'I would like to e-Verify' option and then selecting one of the following options after entering the EVC/OTP when asked.
    a) Aadhaar OTP
    b) EVC generated either through bank ATM or through option in My Account.
    c) Prevalidated Demat Account
    d) Prevalidated Bank Account

Note: In case you choose any of the other two options instead of 'I would like to e-Verify', then ITR will be submitted, but the process of filing the ITR won't be complete until it's verified. Thus, later you would have to e-Verify through 'My Account > e-Verify option' or send the signed ITR-V to CPC, Bengaluru.

  • Also, make sure that you enter the EVC/OTP within 60 seconds; otherwise, the ITR would be auto-submitted, and you would have to verify later.

Following are the steps for offline ITR filing:

  • Visit the Income-tax portal https://www.incometaxindiaefiling.gov.in/home, and download the appropriate ITR utility under 'Downloads > IT Return Preparation Software'.
  • After download, extract the ZIP file and open the utility.

Note: Excel utility is Macro enabled for Ms- Excel Office version 2007/10/13 on Windows 7/8/10 with .Net Framework of 3.5 and above.

  • While for Java utility system requirements are; Windows 7/8/10, Linus, and Mac OS 10.x with JRE Version 8 along with the latest updates.
  • The next step is to fill the relevant fields of the ITR form. You can also download the pre=filled XML by logging in to your account and import it to the utility.
  • The next step is to validate the tabs of the ITR form and calculate the tax.
  • Then, generate and save the XML.
  • Now, login to your account in the e-filling portal by entering PAN, password, captcha, and clicking on 'Login".
  • Now, click on the 'e-File' menu and then click on the 'Income Tax Return' link.
  • Now, on the page of Income Tax Return, PAN will be auto-filled. You need to select the following:
    a) Assessment Year
    b) ITR form Number
    c) 'Filing Type' as 'Original/Revised Return'.
    d) 'Submission Mode' as 'Upload XML'.
  • In the next step choose any of the following to verify your Income Tax Return:
    a) Digital Signature
    b) EVC using Prevalidated Demat Account
    c) EVC using Prevalidated Bank Account
    d) I would like to e-Verify later. Please remind me.
    e) Already generated EVC through My Account > Generate EVC Option or Bank ATM. (Validity of such EVC is 72 hours from the time of generation).
    f) I do not want to e-verify this Income Tax Return and would like to send a signed ITR-V through normal or speed post to CPC, Bengaluru.
  • Now, click on 'Continue' and attach the ITR XML file.
  • If you have chosen DSC as a verification option, then upload the signature file, which is generated from DSC management utility.
  • If you have chosen Aadhaar OTP as verification, enter the OTP received on the mobile number registered with UIDAI.
  • In case you have chosen EVC through a bank account, Demat account, or bank ATM as verification, then enter the EVC you received on the mobile number registered with your bank or Demat account, respectively.
  • In case you have chosen the other two options, then ITR will be submitted, but the process of filing the ITR won't be complete until it's verified. Thus, later you would have to e-Verify through 'My Account > e-Verify option' or send the signed ITR-V to CPC, Bengaluru.

Customer care for e-filing, ITR status, income tax refund

  • To know the status of your efilingincometax return, you are advised to please contact CPC call centre at 1800-4250-0025 from 9am to 8pm for any query to know about the status of their e-filing returns
  • You can also contact at 1800-425-2229 for matters related to rectification of ITR and income tax refund, contact
  • You are required to keep your email ID and mobile number updated in your profile and on your ITR. CPC send email and SMS confirmation to your registered email id and mobile in the following cases:
    • Submission of income tax return
    • Generation of ITR-V
    • Receipt of ITR-V at CPC, Bangalore
    • Processing of ITR-V at CPC, Bangalore
    • Error in ITR
    • Processing of income tax return and issue of assessment order
    • Generation of demand
    • Determination of refund
    • Adjustment of refund amount against previous demand
    • Other matters as per Income Tax Act

FAQs

What is e filing in income tax?

E filing in Income Tax refers to the process of electronically filing Income tax returns via the internet or in simple terms it is submitting your income tax returns online.

How do I log in to my income tax?

You can log in to your income tax account
Step 1: Go to the income tax department official website - To access the Indian income tax login page, go to the homepage of the government portal. There you will see a box on the right side that has a 'Login Here' button mentioned for all registered users.Step 2: Enter the Details - Once you have clicked on that button, you will be taken to the actual login page where you have to mention your income tax login username and password.

How do I file an ITR file?

Steps to file an ITR are as follow:

  • Log on to the Income Tax Department portal using your PAN.
  • Go to e-filing under the relevant assessment year and choose the appropriate form. A salaried individual is required to download ITR-1 (Sahaj).
  • Enter all details from your Form 16.
  • Calculate tax payable, pay tax and enter relevant challan details in the tax return. Confirm the details entered.
  • Go the ‘Submit Return’ section and upload the XML file.
  • A message confirming successful e-filing will be shown on your screen. It is also emailed to your registered email id.
  • You can e-verify the return through any available modes.

How can I file my 2019/20 tax return online?

You can file 2019/2020 tax return online by visiting the Income-tax official website. You are required to log in, download the appropriate form, compute tax details and submit the details. You must make sure that you verify the tax filing at the end.

How do I submit an income tax return?

There are two ways to file your income tax returns. You can file ITR by visiting the Income Tax department office and file the returns physically. You can also file ITR using the internet by vising the official website of the income tax department. You can choose any method which suits your requirement.


Our News - Jul 2020
  • 2020-07-06 : Government likely to extend ITR deadlines news
    Government is expected to extend the Income-tax deadlines from the current 31st July. The move is likely to provide relief to the customers amid the rising COVID 19 and economic woes.
  • 2020-07-06 : Income Tax department amends TDS rules news
    Income Tax department changed TDS forms. Forms have now become more comprehensive with new changes. CBDT has tightened the noose on high-value cash transactions by imposing TDS on high-value cash transactions.
  • 2020-07-03 : 20 lakh taxpayers got Income tax refund over ₹62,000 crores news
    CBDT announced that Income tax refunds amounting to ₹23,453.57 crores had been issued in 19,07,853 cases to taxpayers and corporate tax refunds amounting to ₹38,908.37 crores have been issued in 1,36,744 cases to taxpayers during this period. The move was to help the taxpayers amid the economic woes and COVID 19.
  • 2020-06-25 : Tax-saving investments for FY2019-20 allowed till 31st July
    In the wake of the coronavirus outbreak in the country, The government extended the time to complete the tax-saving exercise for FY2019-20 till 31st July, 2020. The earlier deadline was 30th June, 2020. Further, The deadline extension applies to investments and expenses like LIC, PPF, NSC 80D and mediclaim.
  • 2020-06-25 : Tax forms likely to revised after the extension of tax-saving investment deadline
    Tax forms are expected to be revised after the extension of tax-saving investment deadline. The revision is aimed at making tax filing easier and convenient for the taxpayers.
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