E-filing refers to the procedure of submitting Income Tax Returns (ITR) via online mode. The procedure of e-filing an ITR is simple and may be done from the convenience of one’s own comfort and space. E-filing ITR could also enable you to save costs because you won’t have to engage someone to complete the ITR process.
Step By Step Guide – Registration
- To file returns digitally, visit the Income Tax Department’s authorized website at www.incometaxindiaefiling.gov.in. Signup with your PAN (Permanent Account Number) that will function as your user ID.
- Following a secure login, Click on the ‘Taxpayer’ page, then input your PAN information and select ‘validate.’ Then click ‘Continue.’
- Please include information including your Credentials, residence, gender, residency status, birth date, and so forth.
- You will be asked to enter your e-mail address and active contact details.
- After the application has been entered, click ‘Continue.’
- After you validate your information, a 6-digit One-Time-Password (OTP) would be provided to your associated phone and email id.
- Input the OTP and comply with the directions to correctly finish the registration procedure.
- Again when the OTP has been validated, a new screen shall appear in which you must validate the information you supplied. If any of the information provided is wrong, you can edit it, and an additional OTP will be delivered to authenticate the modification.
- The last process will be to create a secure password and log in.
- After clicking ‘Register,’ you will get a confirmation message acknowledging that the registration procedure is successful.
Step By Step Guide to ITR Filing
- After logging onto the portal, go to the ‘e-file’ tab and then to ‘File Income Tax Return.’
- Choose the taxation period for which you want to file your income tax returns and click ‘Continue.’
- Then you’ll be prompted if you want to file the returns online or offline. In this instance, you must select the first, as it is also the preferred method of tax filing.
- Select if you want to submit your income tax returns as an individual, a Hindu Undivided Family (HUF), or anything else. Select the ‘individual’ category.
- Select the income tax returns (ITRs) that you want to file. Individuals and HUFs, for example, can submit ITR 2 if they do not have revenue from a company or occupation. Individuals, on the other hand, have the choice of selecting ITR1 or ITR4. You must now select ‘Proceed with ITR1’.
- The following phase will ask for a reason for filing returns beyond the basic exemption limit or due to the 7th clause of Section 139. (1). Under the clause, if a person deposits over Rs.1 crore in one or more bank deposits throughout the year, spends more than Rs.2 lakh on a foreign trip, or pays more than Rs.1 lakh on power bills, the individual is eligible to file income tax reports. Ensure that you choose the correct choice.
- Fill up your bank account information. If you have previously submitted your bank account information, pre-validate it.
- You will be forwarded to a new website where you may file your income tax forms. The webpage will already be populated with a large amount of data. Check them to ensure that all of the information is right. Verify and confirm the overview of your results.
- The final process is to double-check your reports and transmit a physical copy to the Income Tax Department. The validation procedure is required.