Mention the types of income tax e-filing in India?
There are many ways of income tax e-filing in India
- Use a Digital Signature Certificate or DSC to e-file tax returns. It has been made compulsory to file IT forms with Digital Signature Certificate (DSC) by a chartered accountant.
- In case you need to e-file your tax returns without DSC, an ITR V form is created which should then be published, duly signed and submitted. This document has to be sent by ordinary post or speed post within 120 days from the date of e-filing.
- As a taxpayer, you can also e-file IT returns over an E-return Intermediary (ERI), with or without DSC.
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Another related Income Tax E-Filling in India questions and answers
List out the Checklist for income tax e-filing in India?
When filing income tax returns online, many faced confusion while selecting which form to submit. Hence, the various types of Income Tax Return forms and their importance for parties have been tabulated below.
|Persons with income from salary and interest
|Persons with Hindu Undivided Families not having income from business or profession
|Persons/HUFs being partners in firms and not carrying out business or profession under any proprietorship
|Persons and HUFs having income from a proprietary business or profession
|ITR 4S (Sugam)
|Persons/HUF having income from presumptive business
|Firms, AOPs, BOIs, and LLP
|Companies other than companies claiming exception under section 11
|Persons including companies required to provide return under section 139(4A) or section 139(4B) or section 139(4C) or section 139(4D)
How to file income tax e-filling?
Income tax e-filing has never been easier. Follow the below steps and you can easily conduct the process.
- Fill your income tax e-filling offline and upload XML on the official website
- Make the required preparation and submit ITR 1 online.
What are the steps to follow to income tax e-filling?
Now, income tax e-filling has become a very easy process. The following steps:
- To start with, log on to IncomeTaxIndiaeFiling.gov.in and register yourself on the website. Your Permanent Account Number (PAN) becomes your user ID.
Now, you can see your tax credit statement or Form 26AS. The TDS in your Form 16 must tally with the figures in Form 26AS. If not, you must correct the inconsistency.
- Click on the income tax return forms and select the financial year you want to file your returns for.
- Then, you want to download the ITR form which is applied to you. If your excepted income exceeds Rs. 5,000, then the proper form will be ITR-2.
- However, you can complete the procedure on the portal itself, by using the ‘Quick e-file ITR’ link, if the related form is ITR-1 or ITR 4S.
- Next step is to open excel value, which is the downloaded return preparation software and enter all the particulars in the form using your Form 16.
- Analyze and get an estimation of the tax payable amount by clicking the ‘calculate tax’ tab.
- Now, if applicable, pay tax and fill in the challan details.
- Check all the information provided in the worksheet by clicking on the ‘validate’ tab.
- Download this in an XML file and save it on your desktop.
- After that ‘upload return’ on the portal’s panel and upload the saved XML file.
- A pop-up will appear, inviting to digitally sign the file. In situation you have your digital signature, then, select ‘Yes’. In situation you have not got a digital signature, select ‘No’.
- ITR Verification (ITR-V), which is the acknowledgment form will be created in a downloadable format.
- Create a printout of the form ITR-V and sign it only in blue ink.
- Send this form to the Income-Tax Department
What are the things to keep in mind while income tax e-filling India?
Two facts essential to be considered when filing your income tax efilling india. Here’s a full list of all of them
- In case your name which is declared in your bank documents or official statements is different from the one given in the PAN card even a small, the portal will consider you a fully separate individual. For example, some taxpayers give their father’s name as their ‘middle’ name in their PAN card but do not use the similar for their bank accounts.
- If the same mobile number or email address is entered by more than four taxpayers online, you cannot able to file income tax on the website, unless the necessary change is done.
- If you are a non-resident Indian and wish to file income tax returns, you will need both, an India number and a foreign number.