Below you will find a list of the different types of Income Tax Return (ITR) forms and who they are for.
Is it possible to file an income tax return electronically?
The Department of Income Tax has established an independent portal for electronically filing income tax returns. E-filing is the process of electronically filing income tax returns. E-filing your returns is a method of filing your taxes from the comfort of your own home. To do so, you have to register at http://www.incometaxindiaefiling.gov.in. If you are a salaried individual, you have until July 31st to file your tax return (offline or online).
You Can Submit Your Itr Online by Following This Step-By-Step Guide.
- Go to the ‘Downloads’ section and select the appropriate Income Tax Return Form.
- Download the Income Tax Return (ITR) utility.
- The TDS according to Form 16 must tally with the figures in Form 26AS. Fill out the utility and validate.
- Creating an XML file and saving it to the desired system or desktop path.
- Go to e-File –> Upload Returns and login to the e-Filing application.
- The sixth step consists of selecting the income tax return form and the assessment year.
- The XML file can now be browsed and selected
- Digital Signature Certificate / EVC Upload (if any).
- The final step is to click ‘SUBMIT’.
- The Acknowledgement / ITR-V Form will be displayed on successful upload. Click on the link to view or print it income tax return online
In order to e-File using the Digital Signature Certificate (DSC), the DSC must be registered in the application.
After the ‘Acknowledgement’ is generated for the income tax return uploaded with digital signatures (DSCs) or electronic signatures (EVCs), the filing process is complete.
An ITR-V Form will be generated on successful upload of an e-Return if it is not uploaded with a DSC (digitally signed) / EVC. It is an ITR-V Form that is a form of acknowledgment/verification. Print out the form and sign it in blue ink. Only upon receiving the ITR-V at CPC, Bengaluru will the return filing process be complete. Within 120 days of filing your online tax return, send the form by post to the Income-Tax Department-CPC at Post Bag No. 1, Electronic City Post Office, Bengaluru, 560 100, Karnataka.
By using EVC, an individual’s ITR-V postage can be completely avoided if their accounts are not audited. EVC can be generated through internet banking or Aadhaar.
If I file a tax return this year, will the IT department ask about my income in previous years?
You must honor your constitutional obligations for paying taxes. If you had taxable income in those years and there was tax owed, the department may ask you to file tax returns for those years.
Will I be refunded excess tax if I have paid it?
When you file an income tax return, you can claim the excess tax refund as a refund. It will be refunded as a check or a credit to your bank account. The Income Tax Department has been making every effort to settle refund claims within four months from the month of filing.