Filing of income tax return has become a mandatory procedure in the present times and you must file your income tax return on time to avoid any penalty. Today, tax filing has become much simpler and thus the individuals can file their returns online without any professional help. Income tax department has dedicated online portal for filing income tax and you can easily fill up their online forms to deposit your taxes. Even you can also pay your commercial taxes, service tax, income tax and other types of taxes on their online portal. But to make your income tax files error free, you must take some helps from trained professionals and they can assist you to fill up your income tax return every year.
Guidelines for uploading Income Tax Returns online
- Firstly, the Income Tax Return (ITR) preparation software is to be downloaded from the concerned portal of the income tax payment site by the taxpayer. In this case, you need to download the files according to your assessment year.
- After that, you have to fill in the particulars and prepare the return by carefully following the guidelines mentioned in the software.
- Before proceeding to the actual process of filing, you should necessarily accumulate all the necessary information that is related to the income and deduction of the tax payments.
- After that, you have to click to the pre-fill button & re-check that all the necessary details. If you find anything wrong, then you can make the correction at this stage. But after submitting the tax, you cannot re-correct your tax files.
- After all of the necessary data have been furnished, you need to click on the calculate option and the software will automatically calculate your tax. Afterward, you can save the data in XML format and you can submit the same file on the e-filling website of the government.
- Lastly, you may have to upload your digital signature certificate as per necessity and then you have to click on the “Submit” tab.
After following all the above steps if your submission is successful, it would display the message ITR-V. Now you are required to download the ITR-V and it would be sent to your email id as well. If you have uploaded your digital signature certificate, then you do not need to send any signed forms to the income tax department. Even you can connect your income tax account with your bank account to deduct the tax directly from your bank.
Preparations to be done for the submission of the ITR online
If you’re filing for income tax return individually through the online medium, then the following steps are to be considered:
- You have to figure out your user id and password for logging in by following the instructions mentioned in the income tax e-filing portal.
- In the next step, you’re required to direct yourself to the option of e-filing and then select and click on the tab “Prepare & submit ITR online”
- You need to carefully select the assessment year for which you want to e-file the return.
- You are supposed to furnish all the necessary data and re-check that all the necessary details have been correctly furnished in order to avoid any error in the subsequent steps.
- After furnishing of all the crucial data, you need to click on the calculate option for finding out the exact total amount of return.
- Finally, you need to log in to the e-filing portal, upload the XML file and complete your filing of easy tax return online.
The easy tax return online is being adopted by several taxpayers and if you haven’t yet tried it out, then you can try it now to save your time and efforts.