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- Category: Tax Planning
- #67039Option1: Use digital signature in which case no paper return is required to be submitted
Option 2: File without digital signature in which case ITR-V form is to be filed with the department. This is a single page receipt cum verification form
Option 3: File through an e-return intermediary who would do e-filing and also assist the assessee file the ITR-V Form
There are many e-filing intermediary websites like HamaraTax, ClearTax, H&R Block etc. Check out how to e-file income tax returns using intermediary websites.
Income tax department of India has introduced income tax return file system in the most easier and simple way by using the improved technology like e-filing, online tax payment and digital signature.
E-payment of income tax facilitates payment of direct taxes. The taxpayers desire to avail this e-payment facility should have the net-banking account with any authorized Indian bank.
Steps to file online income tax return:
Step-1:- Tax computation:
With the help of tax calculator provided in the page of Income Tax Department of Govt. of India i.e.
http://www.law.incometaxindia.gov.in/DIT/Xtras/taxcalc.aspx one can calculate tax liability based on his/her taxable income for any assessment year.
Step-2:- Pay tax online:-
After computation of tax liability including surcharge etc based on total annual income the Challan type to be selected and the selected challan to be duly filled in by the tax payer.
Then select the online bank account where the payment is to be submitted through correct log in into net banking account.
Step-3:- Income tax return form:-
Then download the respective income tax form the page of Income tax Department of Govt. of India's site address:
http://www.incometaxindia.gov.in/download_all.asp and duly fill up the details in the form with taxable income and attaching submitted payment of liable tax in the bank through duly filled up challan as in step-2. This filled up income tax return form is then to be submitted online to the respective Assessing Officer of ward/circle.
Step-4:- E-file tax return:
The next and final step to submit e-file income tax return the registered online income tax payers are to log in to the web page of income tax e-filing website:
http://www.incometaxindiaefiling.gov.in/portal/index.do to submit the online income tax return in the centralized office of the Income tax Department of Government of India.
- #67687Filing Income Tax through online is the most easiest way compared to filing it manually.
Filing through online have lot of advantages, primarily it will save your precious time but only thing is you need to have a little knowledge of using internet.
For more details you can read this article, it will enlighten you the modes and means of filing Income Tax in India through online
How to file Income Tax through online in India?