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ITR Efiling – Income Tax Efiling

Know how to file ITR online in the prescribed format.

#Income-Tax
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What is ITR Efiling?

Income Tax Return Efiling or ITR Efiling is the process of filing income tax return online to the Income Tax Department. Efiling ITR is mandatory in India (except individuals earning up to Rs.5 lakh and super senior citizens). ITR Efiling last date for FY 2019-20 (AY 2020-21) is 30th November, 2020, which is extended from the previous deadline of 31st July 2020. 

How to do ITR Efiling Online?

For Income Tax Return Efiling, you will be required to visit the Income Tax Department official website and register for the same. If already registered, you can follow the steps mentioned below:

Step 1: Visit the Income Tax Efiling portal and do Income Tax Efiling Login.

Step 2: Post successful Income Tax Efiling login online, click on “Income Tax Return” option under the head “e-file”.

ITR Efiling

Step 3: On the next page, select the assessment year (in which you are filing your return), ITR form type and submission mode and click on “Continue”.

Efiling ITR Online

Step 4: To verify the Income Tax Return, you will be required to select the authentication type from Aadhaar OTP, EVC using Pre-validated bank details or send signed ITR-V through normal or speed post and click on “Continue”.

Step 5: Go through all the instructions carefully before starting the ITR efiling online process. Here we are showing the steps for ITR-1.

Also Read: Income Tax Slabs 2019-20

Step 6: Under Part A: General Information, you will be required to fill all the personal information including Name, PAN Number, Aadhaar Number, Address, Email ID and more.

Efiling ITR General Information

Step 7: After providing the general information, fill all the income details to compute gross total income.

Step 8: Enter all the deduction details to compute your net taxable income and income tax.

Efiling ITR Tax Deductions

Step 9: Check all the tax details.

Efiling ITR Tax Details

Step 10: Under the “Taxes Paid and Verification” section, all of the tax details are mentioned including the tax already paid, tax amount payable and refund amount.

Efiling ITR Tax Verification

Step 11: In “80G” section, you can claim deductions for any donations made.

Step 12: After completing all the steps mentioned above, click on “Preview and Submit” option to check your ITR efiling.

Step 13: Click on “Submit” and verify the same using offline mode or e-verify the same.

Step 14: Post successful e-verification, you will get an acknowledgement of the same on your registered email ID.

ITR Efiling

ITR Efiling

ITR Efiling Due Dates

You are required to file income tax return before the due date declared by the Income Tax Department to avoid income tax penalty. Following are the ITR efiling due dates for the income earned in FY 2019-20.

Category of Taxpayer

Income Tax Return Due Date

Individual

31st July, 2020

Body of Individuals (BOI)

31st July, 2020

Hindu Undivided Family (HUF)

31st July, 2020

Association of Persons (AOP)

31st July 2020

Businesses (Requiring Audit)

30th September 2020

Businesses (Requiring TP Report)

30th November 2020


As the country is facing a pandemic, the Government of India announced an extension of ITR efiling for FY 2019-20 on 13th May 2020. Following are the new ITR efiling due dates for FY 2019-20 & AY 2020-21. [1]
 

Category of Taxpayer

Income Tax Return Due Date

Individual

30th November, 2020

Body of Individuals (BOI)

30th November, 2020

Hindu Undivided Family (HUF)

30th November, 2020

Association of Persons (AOP)

30th November, 2020

Businesses (Requiring Audit)

30th November, 2020

 

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What are the Important Dates for Income Tax Return Filing?

According to the Indian Tax System, if you fall under the bracket of FY 2019-20 or AY 2020-21 then you should keep in mind the below-mentioned dates when E-filing the income tax:

Important Dates

Tasks to be completed

Before January 31

Submission of your proof of investment

Before March 31

It is the closing date before which any investments under Section 80C of the Income Tax Act, 1961 must be made

Before July 31

Due Date for E-filing of Income Tax

Between October & November

Verify your tax returns during this period 

 

Why Should you do ITR Efiling?

Besides being convenient and easy, there are several reasons why you should consider Efiling ITR on time. By Efiling ITR, you can claim income tax refund for any excess tax already deducted or paid. You can easily file your ITR and claim refund of excess tax already paid.

Also Read: What is TDS?

E-filing Max Life Insurance

Why Should you do ITR Efiling?

Besides being convenient and easy, there are several reasons why you should consider Efiling ITR on time. By Efiling ITR, you can claim income tax refund for any excess tax already deducted or paid. You can easily file your ITR and claim refund of excess tax already paid.

Also Read: What is TDS?

E-filing Max Life Insurance

Not only this, if you do ITR efiling on time you can easily avoid the penalties which are imposed under Section 234F on a person who is required to furnish income tax return under Section 139 and didn’t furnish ITR or filed after the due date. 

Penalty for Late Filing of Income Tax Return

If any individual who is required to file ITR under Section 139 fails to furnish the same in the prescribed time, he/she will be liable to pay income tax penalty under Section 234F of the Income Tax Act, 1961. Income Tax Penalty under Section 234F is: [2]

  • Rs. 5,000, if the income tax return is filed on or before 31st December of the Assessment Year
  • Rs. 10,000 in any other case (No filing of Income Tax Return)
     

How to Register for ITR Efiling?

You will be required to follow the steps mentioned below for ITR e-filling registration:

Step 1: Visit the Income Tax Efiling portal (https://www.incometaxindiaefiling.gov.in/home).

Step 2: On the right side of the screen, click on “Register Yourself” button to start ITR efiling registration process.

 ITR Efiling Registration

Step 3: Select the “User type” – Individual, HUF, Other than HUF/ Individual etc. and click on “Continue”.

ITR Efiling Registration Select User

Step 4: Enter your PAN details, Surname, Name, Date of Birth and residential status (Resident or Non-Resident) and click on “Continue”.

ITR Efiling Basic Information

Step 5: Provide details such as contact number, address and other essential information required to proceed. Click on “Submit”.

 ITR Efiling All Information

Step 6: You will get a 6 digit One Time Password (OTP) on your registered email ID and mobile number. Enter the same to register and click on “Validate”.

ITR Efiling Enter OTP

After ITR Efiling registration, your PAN number will be the User ID for Income Tax Efiling login.

Income Tax Efiling Login

Once you have successfully registered for ITR Efiling, you can easily do Income Tax Efiling Login online. For Income Tax Efiling Login, follow the steps mentioned below:

Step 1: Visit the Income Tax Efiling portal (https://www.incometaxindiaefiling.gov.in/home).

Step 2: Click on “Login Here” button on the right side of the home page.

ITR Efiling Login Home Page

Step 3: Enter all the required details (mandatory) like User ID (PAN Card Number), password and Captcha code. Click on “Login”.

ITR Efiling Login User ID

Post this step, the information provided will be validated. If all the information provided is correct, you will be logged in to your account.

Who Should Do Income Tax Efiling Online?

The amount of tax payable according to the Indian Tax System  differs in context to the age of the person and the income that they earn. The organizations listed underneath are required to pay tax and do income tax efiling online:

  • Artificial Judicial Persons
  • Hindu Undivided Families (HUFs)
  • Corporate firms
  • Association of Persons (AOPs)
  • Local Authorities
  • Companies
  • Body of Individuals (Bois)
     

Eligibility Criteria for ITR Efiling

As per the Income Tax Rules, it is now mandatory for all the taxpayers to file their ITR online. However, following are 2 exceptions in which an individual can file his/her ITR online or offline:

  • Taxpayer/assessee with net taxable income up to Rs.5 lakh per annum
  • Super Senior Citizen or taxpayer/assessee above 80 years of age in the FY
     

Documents Required for ITR Efiling

You are not required to furnish any document to register or do income tax efiling login online. However, it is advisable to keep the following documents handy before efiling ITR online:

  • Form 16
  • Form 26AS
  • Investment Proofs for Deduction under Chapter VI-A (like Section 80C, Section 80D & others)
  • Home Loan Interest Certificate (For Deductions under Section 24)
  • Rent Receipts for HRA
  • Salary Slips
  • Profit and Loss Account (in case of Self Employed)
     

Benefits of Efiling ITR Online

The benefits of Efiling income tax online are:

  • Simple & Hassle Free Process – The process of ITR Efiling is simple, convenient, quick and hassle free. You can file your ITR at any time during the day from the convenience of your home/office

Efiling Tax Max Life Insurance

Benefits of Efiling ITR Online

The benefits of Efiling income tax online are:

  • Simple & Hassle Free Process – The process of ITR Efiling is simple, convenient, quick and hassle free. You can file your ITR at any time during the day from the convenience of your home/office

  • Process Refund – If excess tax was deducted or advance tax was paid, you can easily file your ITR on time to process your refund of the excess tax paid

  • Check ITR Refund Status – Once you file your ITR, you can check the TDS refund status by logging in to your Efiling ITR account. You can check the refund status of all the assessment years in which you have filed your ITR

  • E-verification – You can do your e-verification of income tax return by Efiling ITR online

    Efiling Tax Max Life Insurance
  • Process Refund – If excess tax was deducted or advance tax was paid, you can easily file your ITR on time to process your refund of the excess tax paid

  • Check ITR Refund Status – Once you file your ITR, you can check the TDS refund status by logging in to your Efiling ITR account. You can check the refund status of all the assessment years in which you have filed your ITR

  • E-verification – You can do your e-verification of income tax return by Efiling ITR online

Efiling ITR

Efiling ITR

What are Different Income Tax Return Forms?

According to the Indian Tax System, if an individual need to demand a revenue tax refund, he/she will have to file his / her income tax return first. The person will have to apply one of the Income Tax Return filing forms listed below according to the income assessment group:

Form Name of Income Tax Return Filing

Description of the form

ITR-1 (SAHAJ)

Individuals having Income upto Rs. 50 Lakhs from Salaries/ pensions, one house property and other sources (except winning from lottery or horse races)

ITR-2

For Individuals & HUFs who do not have Income from Business or Profession

ITR -3

For Individuals/HUFs having income from business or profession

ITR -4 (SUGAM)

For individuals & HUFs or firms (other than LLP) who have income from business or profession calculated on presumptive basis.

ITR -5

For persons other than, - (i) individual, (ii) HUF, (iii) company and (iv) person filing Form ITR-7

ITR -6

Companies other than those who are filing ITR-7

ITR -7

For persons including companies needed to deliver return under sections 139(4A) or 139(4B) or 139(4C) or 139(4D).

ITR -V

The acceptance form of filing a return of income

 

During ITR efiling, a person needs to submit the bank statement, Form 16, and a copy of the returns from previous years.  The form can be filed through the Efiling ITR option of the Income Tax Department. Functionality has been enabled in the Efiling login of the taxpayers whose business turnover surpasses Rs.50 crores to offer the prescribed mode of electronic acceptance of payment.

To register and file returns using the Income Tax Efiling portal, the person will need to visit the website of the Income Tax Department.

FAQs Regarding ITR Efiling

Q. How can I e-verify or acknowledge ITR Online?

A. To E-verify ITR follow the steps mentioned below:

  • Visit Income Tax Official Portal
  • Under “My account” tab, click on “e-verify” option
  • E-verification can be done in 4 ways stated in the window. You can select one and then OTP (One Time Password) will be generated
  • Enter the OTP and your ITR e-verification is successfully completed
     

Q. What is a Belated Income Tax Return?

A. Belated Income Tax Return is an income tax return which is filed when an income tax payer fails to file income tax on time or before the due date as per Section 139(1) of the Income Tax Act, 1961. He/she can also file Belated Income Tax Return is the assessing officer has asked the taxpayer to file ITR before a specified date, after the original ITR Efiling due date.

Also Read: Reasons You Need to File ITR On Time

Q. What is ITR Efiling Last Date for AY 2020-21?

A. The last date for Efiling Income Tax Return in AY 2020-21 for FY 2019-20 is 30th November, 2020 which was extended from the original deadline of 31st July, 2020 due to the pandemic in the country.

Q. How can I download my ITR online?

A. Follow the steps mentioned below to download ITR online:

  • Visit Income Tax Official Portal
  • Login using your credentials and click on “View Returns/Forms” option
  • Click on the acknowledgement number to download ITR online
  • After downloading ITR online, open the PDF file and enter your password to check your ITR. The password for the PDF will be your PAN card number
     

Q. What is the Penalty for Late ITR Efiling?

A. As per Section 234F of the Income Tax Act, 1961 the penalty for delayed or no filing of ITR is as follows:

  • Rs.5000 in case of ITR Efiling on or before 31st December of the Assessment Year
  • Rs.10000 in case of no filing of Income Tax Return
     

Sources

[1]https://www.livemint.com/money/personal-finance/itr-filing-deadline-extended-till-30-nov-for-ay21-11589376366932.html

[2]https://www.incometaxindia.gov.in/_layouts/15/dit/Pages/viewer.aspx?grp=Act&cname=CMSID&cval=102120000000705000&searchFilter=&k=&IsDlg=0

Disclaimer:

Save 46800 on taxes if the insurance premium amount is Rs.1.5 lakh per annum and you are:

  • Regular Individual
  • Fall under 30% income tax slab having taxable income less than Rs. 50 lakh
  • Opt for Old tax regime

ARN: Sep/Bg/04L

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