How To File Your Income Tax Return Online

Income Tax Return Online

The Central Board of Direct Taxes (CBDT) has recently issued a notification which has made it mandatory for individuals earning an annual income above INR 10 lakhs to file their Income Tax Returns online, from the current Financial Year 2011-12 (Assessment Year 2012-13) onwards.

Filing income tax returns is something everyone fears & now filing it online many people may be wondering how to do that?  So we are herewith guide to help you for filing your I-T returns online, without leaving the comfort of your chair.

Note: This guide applies only to salaried individuals.

The most important part of this exercise is to get Form 16, which is provided by your employer. It is a statement of your taxable salary, allowed deductions, and the tax that has been paid on your behalf.

In order to file tax return online first go to Income tax website

Step 1: Click on the Register link to create a new account. You will be asked to submit your PAN number which will act as your unique USER ID.

Incometax register

Step 2: Enter your personal details in the registration form, This details should match PAN card details. Once you submit your registration you will receive a confirmation mail in the inbox of the specified email address.

Incometax register

Step 3: After verifying and logging into your new account, you need to view the Form 26AS statement and ensure that the Tax Deducted at Source (TDS) amount matches the one mentioned in your Form 16. If this amount does not match you need to contact form 16 issuer authority or your CA.

To view the 26AS statement, click on the View Tax Credit Statement (Form 26AS) under the My Account drop-down menu at the top.

Incometax credit

Step 4: In the subsequent form, select Assessment Year 2012-13 from the drop-down box, enter your Date of Birth, and click Submit.

Incometax credit

Step 5: Now, You need to download the I-T Return utility. To do so, select Individual, HUF from the e-Filing menu under the Download section at the top of the left hand side bar.

Incometax credit

Use the table below to check which one of the ITR forms you are supposed to fill.

Incometax credit

Download Return preparation software – Excel utility.

ITR Form

Step 6: Open the I-T Return Excel utility downloaded in the previous step. Make sure Macro is enabled.

Keep your Form 16 ready, as most details are to be copied over from the same. Personal Information section is straightforward. Enter your name, address, birth date, PAN number.

If you are not employed by the Indian government or Public Sector Undertaking (PSU), select the Others check box in the Employer Category.

ITR Form

You can know your Income Tax Ward/ Circle value by going to Know Jurisdiction under the Services drop-down menu at the top as shown in figure below.

Know tax ward

Step 7:- In income and deduction section filled up value in field 1 based on income indicated in your form 16.

Also fill up details in field 5 deduction under 80C, 80 CCF etc as mentioned in your form 16.

Income

Step -8:- Open second sheet named as TDS. Filled up details of your employer name, TAN number & Tax deducted at source.

Incometax

Open third sheet Tax paid and verification section filled up verification details including your bank account number.

Incometax

Step -9:- Go back to first sheet and press “Calculate Tax” button once you press this button tax will be calculated automatically.

Then click on the Validate button at every sheet to check out any mistakes or omissions. Once you are done click on Generate XML & than Save XML button. Save the XML report to your hard drive

Step -10:- Now we need to submit this XML report to income tax website. Go back to Income tax website and under submit return click on Select Assessment year AY 12-13 as shown in image below.

Submit Return

In the subsequent form, select ITR-1 from the drop-down box and click on Next.

Upload Return

If you have digital signature you may use that, but it is not mandatory to use digital signature. If you use digital signature you need to submit digital signature for verification. If you use digital signature you need to send physical copy of return.

Upload XML report. You will now be given a printout of your return known as ITR V form, which you need to print, sign, and submit to the address mentioned in the form itself (CPC, Bangalore). Please note that the submissions have to be sent through regular post only, within 120 days. In due course of time, you will receive an acknowledgement email from the I-T department.

Step 11: Congratulations, you have successfully filed your I-T returns online.

Flow chart for e-Filling process can be seen here

Do share your view / query related to this guide.Remember Last date of Filing return is 31st July.

Article by Raviraj

Hi, I am Raviraj. I am passionate about money matters and finance. I have 10 years of rich experience in the field of financial planning, Investments & Insurance. I have written 850+ article on this blog. If you like my efforts kindly subscribe to this blog and also let your friends know about this website by sharing.

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6 Comments

  1. BDeb says:

    Thanks for your prompt reply. I will add the amount under income while calculating tax.

  2. Strategic Growth says:

    Hello BDeb,

    It seems you have resign and change the job. As you have resigned and taken retriement benefit ahead this amount is subject to deduction.

    You have to add it in Income for Salary/Pension to calcualte your tax.

  3. BDeb says:

    Hi,

    Last financial year I changed my job and got Superannuation from my last employer. Is superannuation amount fully taxable ? Do i add this amount under “Income from Salary/Pension’ in “Income Details” sheet?

    For example, if superannuation amount is 1 lac, should I add 1 lac to ‘Income from Salary/Pension’ for tax calculation.

    Thanks,
    BDeb

  4. Strategic Growth says:

    Dear Gurpreet,

    If you/your employer have not paid your tax pro-rata bases in advance than you have to pay interest u/s 234C .

    Further If you have not paid your full taxes by 31.03.2012 for Ay 2012-13 then you have pay interest under section 234B on balance amount of tax .

    Interest U/s 234A is payable only if you miss the Income tax due date for Ay 2012-13 ie 31.07.2012.

    You are requested to contact your employer in this regards.

  5. GURPREET SINGH says:

    I have run into a road block while filing my return i hope someone can help me out here, i filled in the requisite fields according to Form 16 and after hitting the calculate tax button it is showning the amount in column 14 – Total Interest u/s 234A 234B 234C = 55,200 and therby bringin the total tax payable to 107,073

    however according to the form 16 total tax applicable to me is 51873, out of which TDS = Rs. 47213 and tax paid by my employer is 4660, bringing the total tax to be 51873.

    I have tried changing the field 14 to 0 but the XML is not being generated and gives an error.

    What do you think is being done wrong by me in this case ?

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