Income Tax efiling can be done online through the Income Tax Website without any cost in 2 different ways:-
1. Income Tax efiling by downloading the excel utility and furnishing details in the excel utility offline and then uploading it on Income Tax Website
2. Income Tax efiling without downloading the Excel utility and furnishing all details online itself
Procedure for Income Tax efiling using Excel Utility
The following Article Illustrates 8 Simple Steps for Income Tax efiling by downloading the Excel Utility
1. Logon to https://www.incometaxindiaefiling.gov.in and select the Income Tax Return Form for your type of Income. There are various different Income Tax Return forms for different class of assessees. Recommended Read: Which Income Tax Form should you use?
2. After having downloaded the Excel Utility, you are required to furnish all details in the Excel Utility and also cross check the same with the figures as mentioned in your Form 16/ Form 16A and Form 26AS.
3. After furnishing all the details in the Excel Utility, you are required to Generate a XML file for the purpose of Income Tax efiling (The Procedure for Generating XML File for Income Tax efiling has been explained below)
4. After having generated the XML File from the Excel Utility, logon to your account on the Income Tax Website and then Select "Submit Return" from the relevant options on the left panel. (In case, you are doing Income Tax efiling online for the 1st time, you would first be required to create an account on the Income Tax Website)
5. Browse to select XML file and click on "Upload" button
6. On successful upload Acknowledgement Details would be displayed. An ITR-V would also be automatically generated and sent to your registered email id.
7. In case while efiling income tax return you used your Digitally Signatures to digitally sign the Income Tax Return Form, the whole process gets completed on generation of "Acknowledgement".
8. However, in case while efiling income tax return , you didnt use Digital Signatures, on successful uploading of e-Return, the ITR-V Form would be generated and sent to your registered email id. This ITR-V Acknowledgement form should be signed by the Tax Payer and sent to the Income Tax Office.
Procedure for Income Tax efiling without downloading the Excel Utility
Income Tax efiling can also be done without downloading the Excel Utility and simply by furnishing all the details online. For efiling Income Tax Return without downloading the Excel Utility, a person would be required to login to his account on https://www.incometaxindiaefiling.gov.in and then go to "e-File - Income Tax Return - Prepare and Submit Online"
After having prepared and submitted the Income Tax Return Online, he would also be required to take a print out of the ITR-V Acknowledgement Form, sign it and send it to the Income Tax Department
Recommended Read: Manner of sending ITR-V to Income Tax Department
1. The due date for Income Tax efiling is 31st July for Assessee's not required to get their Tax Audit done. For all Assessee's required to get their Tax Audit done, the Due Date is 30th September.
2. All Income Tax dues (after deducting the TDS and Advance Tax paid) computed as per the Income Tax Slabs are required to be paid before filing the Income Tax Return
Recommended Read: Income Tax Slab Rates
The Address for sending duly signed ITR-V form is "Income Tax Department - CPC, Post Bag No - 1, Electronic City Post Office, Bengaluru - 560100, Karnataka," by ordinary post or speed post only, within 120 days of transmitting the data electronically. In case, Form ITR-V, is furnished after the end of 120 days from the date of filing of Income Tax Return, it will be deemed that the return in respect of which the Form ITR-V has been filed was never furnished and it shall be incumbent on the Tax Payer to electronically re-transmit the data and follow it up by submitting the new Form ITR-V within 120 days. This completes the income tax efiling process for non-digitally signed Returns.
How to Generate XML File for Income Tax efiling
1. Multiple Sheets: - In each of the Income Tax Return Preparation Software (Excel file) downloaded from the Income Tax, there would be a number of sheets/schedules displayed in tabs at the bottom of the file.
2. Mandatory Fields: -Fill all the details required in the Income Tax File (Cells with Red Font and Green Background have to be mandatorily filled by the Taxpayer)
3. Software Generated Fields: - The user cannot fill the Cells with a Blue Font. Figures in these Cells would be automatically computed by the Income Tax Return Preparation Excel File.
4. Validate each Sheet: -After having filled all the details press the Validate Button to ensure that all the fields have been properly filled and to check for omissions if any.
5. Calculate Tax: - After having filled all the details, press the Calculate Tax Button and the figures in the cells with Blue Font would be automatically generated by the Income Tax Return Filing Software.
6. Generate XML: - Once all the sheets have been filled, press Generate XML which will again all the sheets and generate and show a final Validation Sheet
7. Validate Summary: - After clicking Validate XML, you will be taken to a Verification/ Validation Sheet where you should check that all entries made are reflected before clicking on Save XML.
8. Save XML to generate XML for uploading on the e-filing website as explained above and an acknowledgement can hence be generated.
In case there was any error incurred in Income Tax efiling and you realised it later, you can always file a Revised Return of Income u/s 139(5) before the expity of 1 year from the end of the relevant assessment year or before the completion of assessment (whichever is earlier)