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E-filing of Income Tax Return:


Most of taxpayers are now well used to and aware of the e-filing process of Income Tax Returns. Every year some upgradations are made to Income Tax Return Forms and thereby to the e-filing process of Income Tax Returns. CBDT  regularly updates the ITRs and all efforts are made to make them more user friendly. These updates make e-filing a totally new experience every year.

Here are some basics of e-filing process which are useful almost every year. There may be some unexpected challanges at the time of filing ITRs but in general if these basics are taken care of, e-filing of ITR will be completed smoothly. The process of e-filing explained here is using the excel utility available on the e-filing portal of Income Tax Department. There is also a java utility there, which can be downloaded and if understood can be used.
  1. Collect all TDS Certificates (Form 16 & Form 16 A)
  1. Match them with your 26AS (click here to know how to view 26AS)
  1. Log in to incometaxindiaefiling.gov.in (If not already registered click here to know How to Register on IT website)
  1. Download the excel utility or the Java utility of the applicable ITR for the Assessment Year 2020-21
  1. Fill the form carefully. Now there is an option to download pre-filled ITR which contains your basic information and details from your 26AS. You can download it from your e-filing account. Else fill in the details. In any case following basic rules need to be taken care of:
    • Details like your name, father's name, Date of Birth shall be as per your PAN.

    • Salary details should be as per Form 16. From Assessment Year 2018-19, Income Tax Return forms are more detailed. Details of perquisites & exempt incomes are to be shown separately. So be more vigilant & do match your total salary entered in Return with that of disclosed in your 26AS.
Many taxpayers are receiving notices from IT department as to why salary as per 26AS do not match with the salary in IT return. Ideally salary as per 26AS and as per Form 16 should match, so make sure to match the figures of salary clearly.
    • TDS details of salary as per Form 16 shall be filled in the section "TDS on Salary".
    • Other incomes such as saving bank interest, FD interest,  etc. shall be entered carefully checking your bank statements. Saving Bank interest upto 10000 is eligible for deduction u/s 80TTA. Any amount of saving interest above 10000 will be taxable at normal slab rates.
     
    For senior and super senior citizens interst upto 50000 is deductible u/s 80TTB.
    • TDS details of other incomes as per Form 16A shall be filled in the section " TDS other than Salary" and corresponding incomes must be entered as Other Income.
    • If you have deposited some tax (Self Assessment Tax, Advance Tax) it should be filled in the section "Details of Advance tax, Self Assessment Tax". Here BSR code of Bank & Challan number of the Tax deposit receipt and date of deposit are a must.
  1. Now click on calculate tax button. It should not show any taxes as due. If showing than you need to recheck the details of salary, TDS & other incomes again.
Still there is some tax due means either you have made a mistake in filling in the details of income & deductions or some TDS & tax deposited fall short of total taxes payable. You can contact us in such case to make the situation clear.

  1. Check all the sheets by clicking on the validate button.
  1. If there is no error message and you are sure about all the entries in your return, click on generate xml button. Here a sheet will flash on the screen showing an overview of what you have filled in. Confirm it and click on save xml. Save the xml file in a folder which you can locate easily.
  1. Now log in to IT website.
  1. Here on the left side bar or on the top bar click on upload return.
    • Here select the return form that you are filing ( ITR1/ ITR2) from the drop down menu.

    • Now select Assessment Year 2020-21 for the fiancial year 2019-20 from the drop down menu.

    • Next when you click on choose file, it will open a window from where you can select the .xml file you created at step 8 above.

    • One more thing to check is that you have to select NO for "Do you want to digitally sign?"
  1. Click on submit button. A confirmation screen will appear asking you to check your basic details before uploading of return. Here if you are sure of all the details click on submit button otherwise click on cancel tab and go back to your return form. Check your ITR again and redo the above steps.
  1. On final submission of IT Return Form, a message will be showing your ITR filed successfully. Download ITR V & save the same.
  1. The last step is to either e-verify your IT return or send a signed copy of ITRV to CPC Bangalore within 120 days of your uploading the return.



Dont miss to link PAN with AADHAR. How to link PAN & AADHAR Read in detail...

Standard deduction from salary of Rs. 40000/-...read in detail...

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