Online Income Tax Return

You can file your Income Tax Return (ITR) Online on incometaxindiaefiling.gov.in (official website of Income Tax Department). You need to file for ITR if your income falls in the taxable income slab. Eligible candidates to file for Income Tax Refund online are salaried or self-employed individuals, HUF (Hindi Undivided Family), firms or companies, BOI (Body of Individual), AOP (Association of Persons), etc.

  • You need to file for tax returns if your annual income is over Rs. 2.5 lakhs.
  • You have to report your gross taxable income from all the sources and claim the tax exemptions and deductions.
  • Then you need to declare your total tax liability to the IT Department, and pay the tax amount as per the calculations.

In this post we will discuss about ITR filing date extensions due to Coronavirus disease outbreak, documents required for filing ITR online, procedure to file Income Tax Return online, need for online income tax return filing, steps to download ITR Form online, and frequently asked questions.

Update on Filing Income Tax Return in Covid-19 Times

Due to Coronavirus outbreak, the Government of India has decided to provide extension for the IT Return Filing dates:

  • Last date of ITR Filing for FY 2018-19 is extended to June 30, 2020 from March 31, 2020.
  • Last date of ITR Filing for FY 2019-20 is extended to November 30, 2020 from July 31, 2020 and October 31, 2020.
  • Last date for tax audit is now extended to October 31, 2020 from September 30, 2020.

Documents Required for ITR Filing Online

The required documents are as follows:

  • Bank statement for the financial year you are filing the Income Tax Return
  • PAN Card
  • Form 16 if you are a salaried person
  • Income/salary proof
  • TDS certificate
  • Proofs and receipts of tax-saving instruments
  • Interest certificates from post offices/banks
  • Form 26AS
  • Form 16A/16B/16C

How to File Income Tax Returns Online?

An e-filing software has been launched by the Income Tax (IT) Department for all the ITR Forms. You can file ITR-1 and ITR-4 online without downloading the software in Java or Excel. Before filing the IT online, make sure you have all the softcopy of required documents with you. Here are the steps to file Income Tax Returns online:

  • Visit Income Tax e-Filing website
  • If you are a registered member, then login to your account with your PAN/User ID, password, and then enter the Captcha.
  • You need to register on the portal if you are new to the e-filing platform. For this purpose, click here
  • Now opt for the assessment year and ITR form, say ITR-1 or ITR-4 according to requirement, and select the submission mode ‘Prepare and Submit Online’.
  • If you have used this portal to file ITR in the past, then during filling the ITR form you can select from the prefilled details. After selecting the prefilled details, click ‘Continue’.
  • Fill the form on the redirected page. Do not forget to read the ‘General Instructions’ at the beginning to be aware as to how to go about filling the form correctly.
  • Now fill details in different tabs such as ‘General Information, ‘Income Details’, ‘Tax Details, ‘Taxes Paid and Verification, ‘80G’, etc in the Income Tax Return Form.
  • Check for errors and fix the same before submitting the form. After this, click ‘Preview and Submit’. You will be able to preview the form before submission.
  • Click ‘Submit’, and the ITR form will be uploaded. The system will then take you to options available for verification.
  • You may use Aadhaar OTP or EVC (Electronic Verification Code) to verify the return electronically. Or you may choose the offline method to verify the filed ITR by sending a signed printout copy of ITR V to CPC, Bengaluru in 120 days from e-filing the returns.
  • After successful uploading of the IT Return, you will receive an Acknowledgement or ITR V to your registered email address. You can also download the same from your account on the e-filing portal.
  • The IT Department will process the ITR after you verify the IT Return filing. The department will notify about processing the Returns on your registered email address or send an SMS about it to your registered mobile number.
  • NOTE: Though you can personally file Income Tax Return online on the authorized site for the same by the Government of India, you can approach individuals or agencies who can do so on your behalf. They may charge a fee for their service, but it is nonetheless convenient and secure.

Is it Necessary that You File the ITR Online?

You can file for Income Tax Return Offline or Online. Here are the conditions wherein you need to mandatorily file for the ITR refund online:

  • HUFs or individuals with a total income of Rs. 2.5 lakhs or those with a tax refund claim. Super senior citizens of 80 years of age or above can file ITR-1 or ITR-4 electronically or manually.
  • Companies need to use digital signature to file ITR electronically.
  • Resident taxpayers with assets abroad also have to submit ITR online.
  • The same is required for an individual who has to file ITR-5 and claiming tax exemptions under the Sections 91 of the Income Tax Act, 1961.
  • HUF, firms, or individuals whose account books need to be audited as per the Section 44AB also have to e-file their income tax returns.

Steps to Download ITR Form Online

You can download the ITR forms online on the official website of the Income Tax Department. Here are the steps for the same:

  • Visit the official website of the IT department.
  • Click ‘Form/Downloads’ option on the homepage.
  • Now from the dropdown menu, select the option ‘Income Tax Returns’.
  • You will be then redirected to a new webpage. Here, you can download the ITR Form that is applicable to you as per your income source and the assessment year.

Frequently Asked Questions about Income Tax Return Online Filing

Here are the FAQs for Filing Income Tax Return Online:

Usually every year, the ITR Filing deadline is on the 31st of July for salaried individuals. You can even pay taxes in advance. If you do not file ITR in time, then it may attract penalties. Filing for ITR within deadline helps you keep a track of the financial transactions and get your IT refund on time as well. Also, you can avoid hefty fine otherwise applicable on late filing.

Here are the advantages of ITR e-filing:

  • With the introduction of ITR e-filing, taxpayers can easily file for the Income Tax Returns from the comforts of their space.
  • All you have to do is visit the IT Department’s official website and follow the steps on how to file the IT refund online. You can also take the service of an agent or agency that can partake the procedure on your behalf.
  • You do not have to thus manually visit any centre to file the taxes.
  • Neither do you have to send a post of the ITR Form to the IT Department nor stand in queue for income tax return filing at any point of time.

Here are the different types of ITR forms available:

  • ITR-1
  • ITR-2
  • ITR-3
  • ITR-4
  • ITR-5
  • ITR-6
  • ITR-7
  • ITR-V

Always check the form 26 AS before you file income returns. This shows how much tax has been subtracted from your salary and deposited to the IT department by the employer. Make sure that the tax deducted from the income as per Form 16 is same as the calculations in Form 26 AS. If you file the returns ignoring the errors (if any) you might get a notice from the IT department.

If you have not filed for the due ITR, then you have to login to the official e-filing website. You have to submit a response here by accessing the ‘Compliance’ tab.

  • Now you can view two options – ‘View and submit my compliance’ and ‘View my submission’.
  • If you select the first option, you will be able to see the details of all the assessments wherein the returns were not filed as per the IT Department record.
  • You can select any one of the options here such as ‘the return has been filed’ or ‘the return has not been filed’.
  • In case you select the latter, then you will get a greater number of options such as ‘return under preparation’, ‘business has been closed’, ‘no taxable income’, and ‘others’.
  • Now you should pick the relevant option, and click ‘Submit’.