How To File Your ITR?

The ITR or income tax return is the form that is filled up for reporting the taxpayer’s annual income. There may be various purposes for ITR filing even when you do not earn any income. Taxpayers may file ITR for reporting annual income for a particular financial year, carrying forward any losses, claiming refunds on income taxes paid, claiming deductions on taxes, and so on. The ITR helps taxpayers declare their income for a particular financial year along with deductions, expenses, investments, and taxes.

Citizens are mandated to file income tax returns in various situations under the Income Tax Act of 1961. This is hence something that you will have to wrap your head around, i.e. get more information about the intricacies and systems working behind the procedure. If you have just started earning and have to file income taxes, you can get some guidance from the internet along with any professional tax/financial consultant of your family or at the workplace. You can also consult your parents and relatives for guidance in this regard initially.

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E Filing Of Income Tax

There is a facility for income tax e filing which is provided by the Income Tax Department. You will have to calculate your income based upon the income tax regulations applicable in your slab. Calculations should cover income from all your sources including salary, interest income, property, capital gains, other sources, freelancing, and so on. You can claim deductions under Section 80C and other applicable heads wherever applicable.

You should also account for TDS, TCS, and other advance taxes paid likewise. You are required to summarize the TDS amount based upon the TDS certificate that is received for all four quarters of a particular financial year. Form 26AS helps in this summary of TDS and taxes paid for the financial year in question. These are some basics that you should not forget when it comes to filing ITR.

While you can venture towards income tax e filing online, you should select the proper form which is applicable to you. The online mode is available for ITR-1 and ITR-4 while the offline mode applies to all kinds of income tax filing forms. Here are the ways and means to file your ITR online successfully without any hassles whatsoever.

Steps To Follow While Filing Your Income Tax Return (ITR) Online

  • You have to first download the ITR utility from the official Income Tax website.
  • Go to and then click IT Return Preparation Software which is the option given on the menu on the right-hand side.
  • Select your applicable Assessment Year before downloading the utility software which could be Java utility or Microsoft Excel, depending upon what you prefer.
  • Fill up all the details in this Downloaded File thereafter. Check the refund receivable or tax payable based upon the calculations on this utility software.
  • The income tax challan details can also be filled up in the form that you have downloaded.
  • You will find some buttons on the right-hand side of this downloaded form. Click on Validate which will make sure that all necessary information has been properly filled up.
  • Post validating the file successfully, you will have to click on Generate XML which is a button towards the right-hand side of the file. This will help you smoothly convert the file into XML format.
  • You will now have to log in to the income tax e filing
  • Here, you have to click on e-File which is the tab provided, for choosing the option named Income Tax Return.
  • Provide all the necessary information required including your assessment year, PAN, ITR form number, and also mention the mode of submission.
  • Remember to select the Upload XML option from the drop-down menu which corresponds to the Submission Mode field name as provided.
  • You will now have to carefully attach your XML file from the PC while also clicking on the button for submission.
  • Select one of the available modes for verification. They include Aadhar OTP or EVC (electronic verification code). You can also choose to dispatch a copy of the ITR-V which is manually signed, to the CPC, Bengaluru. You can send this by courier to the address that you will find for the CPC online.

These are the steps that you have to follow while filing your income tax return (ITR) online. The entire procedure is smooth, convenient and hassle-free. You can also access all your income tax return details on the portal once you have logged in. You should make sure that you do not miss out on the steps in the process. The whole system is smooth and highly efficient. This will actually save you a lot of time and hassles in the bargain. Once you get used to it, filing ITR will be a breeze in subsequent assessment years.

What Can We Infer About ITR E filing?

The e-filing system is a major boon for taxpayers and helps in swiftly filing returns and paying taxes without any major glitches. Make sure that you double-check all information that you enter and validate before submission. This will help you keep errors at bay that may bother you later on. Ensure that you select the right form for filing your returns which is the most important step in the process. Always take your time while e-filing your taxes. Do not rush through the procedure at all. Here’s to a smooth, hassle-free, and highly convenient ITR filing journey ahead.

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