Filing returns

Follow these steps for a hassle-free tax filing experience

Filing returns
Filing returns
OLM Desk - 21 July 2016

Follow these 11 steps for a hassle-free tax filing:


STEP 1

Registration: The Permanent Account Number (PAN) is the user ID.

STEP 2

Tax Credit Statement (Form 26AS): This needs to be checked for the previous financial year. This will list all the taxes deducted that are actually deposited with the Income Tax Department.

STEP 3

The Tax Deducted at Source (TDS) of the Form 16 should tally with the ones in Form 26AS.

STEP 4

Tax Return for the current year: Under the ‘Download’ menu, click on Income Tax Return Forms and choose the current financial year. Download the appropriate ITR form. There is an option to complete the process on the portal itself, through the ‘Quick e-file ITR’ link

STEP 5

Return Preparation Software: It is a spreadsheet that can be used through Microsoft Office, Open Office or other online spreadsheet applications and it should be filled in using the details from Form 16.

STEP 6

Find out the tax payable by clicking the ‘Calculate Tax’ tab. If applicable, pay the tax and fill in the details of the challan in the tax return.

STEP 7

Confirm all the information through the ‘Validate’ tab.

STEP 8

Generate an ‘XML file’ and save it on your local disk on the computer.

STEP 9

Upload Return: After selecting the current financial year in the ‘Upload Return’ link on the portal, select the XML file that had been saved earlier. There might be an option to digitally sign the file. You could also generate an EVC (Electronic Verification Code) code using Aadhaar or bank account and complete the entire process online.

STEP 10

ITR - V: If the process of filing has been completed successfully, the website will flash an appropriate message and you will be able to download the acknowledgement form, the ITR-V.

STEP 11

A printed copy of the ITR-V needs to be signed by you in blue ink and sent to the Income Tax Department office nearest to you through normal or Speed Post within 120 days of filing the return

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