What is E-filing of return?
Filing of Income Tax returns is a legal obligation of every person whose total income for the previous year has exceeded the maximum amount that is not chargeable for income tax under the provisions of the I.T Act, 1961. Income Tax Department has introduced a convenient way to file these returns online using the Internet. The process of electronically filing your Income tax returns through the Internet is known as e-filing of returns.
Who are eligible to file e-return?
Any individual or organization that files returns using the general method can take advantage of this facility. The pre-requisite for filing online is that you must have a valid PAN number. Direct E-filing is available for FORM NOs. ITR-1, ITR-2, ITR-3, ITR-4, ITR-5, ITR-6 & ITR-8.
It is mandatory for a company and a firm liable to audit under section 44AB of the Act to furnish the return electronically. However, electronic filing is optional for other categories of tax-payers.
What documents do I need before I begin preparing my return?
Some of the most common documents that are required for preparing income tax return are:
a. Copy of PAN Card / PAN Allotment letter
b. Last year’s Income Tax Return Acknowledgement
c. Form No. 16
d. Housing Loan Repayment Certificate
e. Rent Receipts
f. Shares Sale Bill / Contract Note & details of corresponding purchases
g. Bank Statement / Pass Book
h. Copy of tax-saving investments (not declared in Form 16), like
i. Life insurance Premium Receipt
ii. PPF Challan’s
iii. NSC Certificate
iv. ULIP Statement
v. ELSS Statement
vi. Tuition Fees Receipt
vii. Medical Insurance Premium Receipt
viii. Donation Receipts
i. Medical Bills and LTA proofs not declared to your employer
j. Form No. 16A (TDS Certificate)
k. Tax Payment Challan’s
l. Bank Account Information
The e-Return has to be furnished at http://incometaxindiaefiling.gov.in
e Filing Process:
1 Select appropriate type of Return Form
2 Download Return Preparation Software for selected Return Form.
3 Fill your return offline and generate a XML file.
4 Register and create a user id/password
5 Login and click on relevant form on left panel and select “Submit Return”
6 Browse to select XML file and click on “Upload” button
7 On successful upload acknowledgement details would be displayed. Click on “Print” to generate printout of acknowledgement/ITR-V Form.
8 Incase the return is digitally signed, on generation of “Acknowledgement” the Return Filing process gets completed. You may take a printout of the Acknowledgement for your record.
9 Incase the return is not digitally signed, on successful uploading of e-Return, the ITR-V Form would be generated which needs to be printed by the tax payers. This is an acknowledgement cum verification form. The tax payer has to fill-up the verification part and verify the same. A duly verified ITR-V form should be mailed to “Income Tax Department – CPC, Post Bag No - 1, Electronic City Post Office, Bangalore - 560100, Karnataka, ” BY ORDINARY POST ONLY within 30 days after the date of transmitting the data electronically.
Since the Form ITR-V is bar-coded, assessee is advised not to fold the same and post it in A4 size envelope.
The e-mail shall be sent in due course to the e-mail address furnished by the tax-payers in his return. No Form ITR-V shall be received in any other office of the Income-tax Department or in any other manner.
Further, it is advisable, though not mandatory, to use a digital signature for electronically furnishing the return. If the return is electronically furnished under a digital signature, the tax-payer is not required to furnish the Form ITR-V with the Income-tax Department as a follow up to the electronic transmitting of data in the return. Similarly, any return which is digitally signed by the assessee and filed with an E-Return Intermediary (ERI), who, in turn, submits the return to the Income Tax Department under his digital signature, will also be deemed to have been filed under a digital signature of the assessee and no Form ITR-V is required to be submitted. In such cases, the date of electronic transmission of the data in the return shall be the date of furnishing the return.
ITR-V sent by Speedpost, Registered Post or Courier will not be accepted. No Form ITR-V shall be received in any other office of the Income-tax Department or in any other manner.
All returns filed electronically shall be processed, on priority basis, only at the Centralized Processing Centre of the Income-tax Department in Bangalore.
Since no documents are required to be furnished along with the return of income, the credit for Tax Deducted at Source (TDS), Tax Collected at Source (TCS), advance tax and self assessment tax (hereinafter collectively referred to as pre-paid taxes) shall be allowed on the basis of information relating to pre-paid taxes furnished in the relevant schedules of the return forms subject to matching with the information provided by the deductor, collector and the banks.
Taxpayers filing their income tax returns for assessment year (AY) 2009-10, or any other earlier AY, may continue to file their returns without mentioning the Unique Transaction Number (UTN) as required under the said Notification. The filing of such returns shall be treated as valid and in compliance to the requirements under section 139 of the Income Tax Act, 1961.
No.402/92/2006-MC (14 of 2009) CBDT Press Realease 30 june 2009
Further, no disallowance of claim for pre-paid taxes shall be made by the Assessing Officer only on the ground that the TDS/TCS certificates and challans have not been furnished along with the return of income or Form ITR-V.
Pay your Income Tax Dues (online or offline)
You can pay the tax by filling up a form called “Challan No.280″ and submit it to any Nationalized Bank or pay it online through the website https://onlineservices.tin.nsdl.com/etaxnew/tdsnontds.jsp
Last Date for filing Income Tax Return (AY 2009-2010): 31st July 2009
(for Salaried and other assessee who do not required their account to be audited)
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