Best Way For E-filing Income Tax

It is called e-filing when you use the internet to file Income Tax Returns (ITR) online. It is easy to e-file an ITR from home or at the office, and the process is quick and simple. Using ITR e-filing will also save you money since you will not have to hire an individual to do the work for you.

Note: The new Income Tax Portal is now available for filing your taxes. There are a number of features included in the portal, which is designed to make filing easier.

Steps to Login / Register into the e-Filing Portal

Step 1: To file ITR visit an e-filing website https://www.incometax.gov.in/iec/foportal .

Step 2: Login or Register to open new account to e-file your returns

Step 3: Now click on 'Taxpayer' and then enter your PAN Card Number and click on 'validate'.

Step 4: Once Pan Card Validated confirmation question will be asked "Please confirm if you want to register as "Individual taxpayer" , Click on "Yes" and then click on Continue button.

Step 5: Provide details such as your name, address, gender, residential status, date of birth, etc.

Step 6: Provide your Email ID and registered mobile number.

Step 7: Once the form has been filled up, click on 'Continue'.

Step 8: You will have to verify the details following which a 6-digit One Time Password (OTP) will be sent to your registered mobile number and Email address.

Step 9: Enter the OTP follow the instructions given to complete the registration process successfully.

Step 10: Once the OTP has been verified, a new window will open where you will have to verify the details provided by you. In case any detail given is incorrect, you can change it, following which another OTP will be sent to validate the change.

Step 11: The final step will be set up a password and secure login message.

Step 12: Click on 'Register' following which you will receive an acknowledgment message stating that the registration process has been completed successfully.

After Login / Registering to the portal, here are the steps you need to take to e-file your income tax returns on the Income tax e-filing portal:

Step 1: Visit an e-filing website https://www.incometax.gov.in/iec/foportal and Login to your account using Username and Password.

Step 2: After you have logged into the portal, now click on the tab 'e-file' and then under that click on 'File Income Tax Return'.

Step 3: Form will get open in that select the Assessment year for which you wish to file your ITR (income tax returns) and then click on 'Continue'.

Step 4: Now you will be asked whether you wish to file your returns online or offline. In this case you have to choose the former which is also the recommended mode of tax filing. Select Online Mode.

Step 5: Now you will be asked whether you wish to file your income tax returns as an individual, Hindu Undivided Family (HUF), or others. You have to choose the option 'individual'.

Step 6: Choose the income tax returns (ITR) Form you wish to file. For example, ITR 2 can be filed by individuals and HUFs who don't have income from business or profession. Similarly, in case of an individual, they can choose the option ITR1 or ITR4. Here you have to select and click on 'Proceed with ITR1'.

Step 7: The next step will ask you the reason for filing your returns above the basic exempted limit or because of the seventh provision under Section 139(1). According to the section, if the aggregate amount deposited by an individual exceeds Rs.1 crore in one or more current accounts during the year, exceeds Rs.2 lakh on a foreign trip, or if a payment of more than Rs.1 lakh is paid on electricity bills, then the person can file their income tax returns. Make sure you choose the right option.

Step 8: Now you have to fill the details of your bank account. If you have already provided the details of your bank account, then pre-validate it.

Step 9: You will then be directed to a new page to file your income tax returns. The page will contain a lot of information filled already. Check them make sure all the details mentioned are correct. Confirm the summary of your returns and validate it.

Step 10: The final step is to verify your returns and you have to send a hard copy of the form to the Income Tax Department. The verification process is mandatory.