Things you need to know to file your Income Tax Return

Things you need to know to file your Income Tax Return
Highlights

While the Income Tax Department has announced that the last date to file the Income Tax Return ITR for individuals isJuly 31, filing an IT return online is still a process, not everyone is comfortable doing it by themselves

While the Income Tax Department has announced that the last date to file the Income Tax Return (ITR) for individuals is July 31, filing an IT return online is still a process, not everyone is comfortable doing it by themselves.

Here’s what you need to know -

Only ITR-1 (Sahaj) and ITR-4S (Sugam) can be filed online. ITR-1 is a return filing form applicable to the individual who obtains income from salary, interest and rent while ITR-4S is the form used by those who have chosen presumptive business income and also obtain their income from salary, interest and rent.

To submit ITR online -

  • Login to e-filing website and enter details such as User ID, Password, Date of Birth/Incorporation and Captcha code.
  • Click on prepare and submit ITR online after choosing e-File
  • Choose the Income Tax Return form ITR 1/ITR 4S and the Assessment year
  • Fill in the details and click submit.
  • Upload the Digital Signature Certificate (DSC) by going to the ‘My Account’ section and click on submit
  • ITR-V would be displayed on successful submission
  • Download the ITR-V
  • The return filing process is complete if ITR is uploaded with DSC. In case ITR is not uploaded, get the ITR-V form signed and submitted to CPC within a period of 120 days from the date of e-Filing. Once the receipt of signed ITR-V is processed, the return is complete.
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