How to File Income Tax Returns aka ITR Online in India

Most people with income need to file an income tax return, or ITR. For many people, filing income tax returns in India is a fairly simple process. You can also file ITR online easily and for free through the official website of the Income Tax Department or through third-party IT filing websites. The deadline for this year’s online returns is August 31, 2019. The process for filing income tax returns differs for different people in India.

Before we start telling you how to file income tax returns online in India, let’s take a quick look at which ITRs to file.

Which ITR to file

For individuals who wish to file income tax returns in India, there are four types of income tax returns (ITRs) that can be considered. These are:

• ITR-1: Working class people earning less than Rs. 5 million people are due to file ITR-1 every year. Here you can declare income from a property, agricultural income up to Rs. 5,000, and income from other sources.
• ITR-2: Normally ITR-2 is only available to those whose income is above Rs. 50 Lakhs, but if you have any capital gains to declare (like income from mutual funds), then you need to file ITR-2. There are certain other types of income, such as foreign income, multiple properties, etc., that also fall into this category.
• ITR-3: In addition to the types of income mentioned in ITR-2, if you have business or professional income, you need to file ITR-3.
• ITR-4: If all your sources of income are listed under ITR-1 but your total income is more than Rs. 5 million per year, then you need to file ITR-4.

This is the basic information you need to decide which ITR to file, but be sure to check carefully. If you are unsure or your type of income is not mentioned above, it is best to consult a chartered accountant.

This guide will cover the filing of income tax returns by salaried persons, especially those falling under the scope of ITR-1.

How to file ITR online

Now that you know which type of ITR you want to file, you can do it easily and for free on the income tax department’s e-filing website. Please follow the steps below.

1. You need to first create an account on the IT department’s website. You can do so by clicking here. For most people the user type must be personal. Just follow the on-screen prompts and fill in the necessary details. After creating your account, proceed to the next step.
2. Visit the Income Tax E-Filing website and log in to your account.
3. Click Submit income tax return.
4. On the next page you will need to select your Assessment year. This can be a little confusing, but here’s what you need to know: The assessment year is the year after the financial year for which you file your tax return. For example, if you are filing an IT return for the financial year 2018-19, the assessment year will be 2019-20.
5. Next select ITR form number, filing type (should be Original/Amended Return), then commit mode. For the last item we selected Prepare and submit online.
6. then select continue.
7. This year, the income tax department has made it very convenient to file IT returns online by pre-filling a lot of information about your income. So, if you are a salaried person with no other source of income and you declare your investments and expenses (like rent, PPF, etc.) to the company, you may not even need to fill in any data. In our case, the form is pretty much pre-filled, all we need to do is enter our bank details.
8. To do this, click Taxation and Verification Tab to add your bank details. Now scroll down to D21. Bank account detailsadd information and click Add to. This is mandatory and will help you get your income tax refund credited to your account. Once you’ve made sure these are correct, be sure to scroll to the bottom and click save draft.
9. Next browse each tab starting with General information. Make sure your name, address and other information are correct.
10. Click now Income details tab. All of your salary information will be pre-populated here. If not, get Form 16 From your employer and enter all your income details manually.
11. Now scroll down to the section B5. total revenue. Here you can double-check that all deductions have been entered correctly. Life insurance premium, PPF, NPS investment, health insurance premium, etc. should be filled here. Don’t forget to check C15. Bank savings account interest 80TTA And focus on the interest your savings account earns throughout the year.
12. Finally, check C18. Total deductions and C19. total taxable income. Once you’ve made sure these are correct, be sure to scroll to the bottom and click save draft.
13. you need to check 80G Click now to declare your charitable donation (if you have made any).
14. Go through all the tabs again to see if there is any information that needs to be added or anything that is missing. Once you’ve done all of this, go to Tax payment and verification and scroll to the bottom. Click I want to electronically verify then click Preview and submit.
15. Click now OK in the confirmation box.
16. The next page will show a preview of the entire ITR, so please read everything carefully and make sure all details are correct. Then click submit.
17. You will now see a pop-up window where you can choose how to electronically verify your IT return. choose Aadhar OTP If your Aadhaar and phone number are linked. Otherwise select online banking. Then click continue.
18. Click now submit.

Congratulations. If the process is successful, you will see this confirmation message: “Your return has been uploaded successfully.” If you have not done so yet, you can do so within 120 days of submitting your IT return. It is a simple process through Internet Banking and even simpler through Aadhaar OTP. Simply log into your IT e-Filing account and click my account > E-Verify Returns > E-Verify. Now follow step 17 above and you are done.

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