SEBI registered Investment advisor (RIA) with Registration number – INA 000000342.

Online transactions are fast catching up in India with almost all transactions being permitted online. Now you can buy life insurance, health insurance, apply for a loan and pay most of your bills including EB bills online. Yes, India is fast catching up with the West, where online is the order of the day for many years.

Filing of IT Returns Online

What about filing of IT returns online?

Yes, filing of IT returns online is allowed for the past many years in India and is fast catching up now. From the Assessment Year 2012-13, filing of IT returns online was compulsory, if the income exceeded 10 Lakhs. About 1.6 crore tax payers filed the IT returns online last year.

The government is planning to make filing of IT returns online mandatory for taxpayers with a taxable income above Rs. 5 lakhs.

Is filing of IT returns online so complicated?

No. In fact, it is very user-friendly. Please go through the steps outlined below. You can complete the whole process in few simple steps:

  1. Visit www.incometaxindiaefiling.gov.in and register yourself using your PAN number.
  2. Download the relevant Excel spreadsheet from the download menu.
  3. Fill the details using Form 16 issued by your employer and other details. Save the XML file generated by the software.
  4. Using the `Calculate Tax’ tab, calculate the tax payable. If there is a tax liability, pay it and enter the challan details.
  5. Confirm the details by clicking the `validate’ tab.
  6. Generate the XML file.
  7. Click on `Submit return’ and upload the XML file.
  8. You will be asked whether you wish to sign digitally or not. Answer ‘yes’ or ‘no’.
  9. You can see the message of successful filing of your IT returns on the screen and can download the acknowledgement.

10. You will get your acknowledgement by email also. Print the acknowledgement form ITR-V.

11. Sign the ITR-V in blue ink and send it to the ‘Income Tax Department – CPC, Post Bag No. 1, Electronic City Post Office, Bengaluru – 560 100, Karnataka’ by ‘Speed Post’ or Ordinary Post within 120 days of uploading your Returns.

12. You will get a mail confirmation, once the IT department receives your ITR–V. If you are not getting the confirmation, send the ITR–V again.

Before proceeding for filing of IT returns online, keep the following items handy:

  1. Form 16 issued by your employer
  2. Details of Section 80 C tax benefits
  3. Any other income like dividend, bank interest, etc.

It is not a complicated exercise, as you think. If you are net savvy, you can do all this by yourself. Otherwise, there are many portals which will help you in filing your IT returns online by charging a nominal fee.

5 Comments

  • Venlat Lakshman Rao Posted June 11, 2013 12:03 pm

    Dear Sir:

    I take this good opportunity in mailing this text to you, to get your opinion on Form-16 , which is not issued by the employer although they have deducted
    my TDS amount in my salary for the year 2011-2012. In this connection I have already made my complaints with Central Board of Direct Taxes(Income Tax) (D/O Revenue) on 23.01.2013 and I have received their reply through on line as current status : received the grievance and they are passing this complaints to first to Thane Circle and Mumbai Central and finally to Vashi. But still there is no line of action taken on any of the above officers and I am really tired of mailing my complaints. Please look in to this and guide me , where I exactly contact to have my Form 16 from my previous employer.

    With warm Regards.

    V.LRao.

    • Melvin Joseph Posted June 25, 2013 5:58 pm

      I suggest you have to use the help of your friends in the previous company to follow up with the HR department for the Form 16. Dealing with government agencies will be time consuming.

  • Deepika Posted June 11, 2013 12:09 pm

    I tried to file my returns online this year through the site mentioned above, but found it very time consuming & complicated. Same experience with some websites which offer help to file taxes. Hence I reverted back to my tax consultant to do the job on my behalf for a nominal fees.

    • Melvin Joseph Posted June 25, 2013 5:56 pm

      Many are facing this problem. If you want to save on cost, you should be patient to manage this with a slow website. Otherwise, do it through experts at a nominal fee.

  • Vaibhav Posted June 26, 2013 8:25 pm

    Hello Sir,

    As the recent amendment says that ITR-1 cannot be filed by those individuals who have their Exempt Income exceeding Rs. 5000/-, I would like to know if
    i). conveyance allowance (Rs. 800 pm; Rs. 9600 pa) also comes under this?
    ii). interest income on savings bank account also comes under this?

    If yes, then is it ITR-2 that we’ve to use to file our returns?

    Also, what is the implication if someone has already filed returns using ITR-1? Is it required to re-submit the returns using the correct form?

    Thanks and regards,
    -Vaibhav

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