Income Tax eFiling
Income tax returns filing is a mandatory aspect for every individual with a total income greater than the income limit specified and regulated by the Government every year. The demand for filing of income tax returns becomes especially high in the months of June-July. According to latest statistics, every user who has an income of 5,00,000 INR or more are required to file their income tax returns to the government. Thus, to facilitate greater ease of filing of income tax returns to the corresponding authorities and ensure hassle free documentation, people largely prefer using the income tax e-filing websites.
What is the Purpose of Income Tax efiling Websites?
The basic purpose of income tax e-filing websites is to facilitate hassle free filing of income tax returns to the government. The extensive use of these websites lets you file your returns with utmost efficacy and ease. Also, the added security features these websites stand to offer create the perfect potential for better understanding of the legal and finance regulations in complete compliance with the current market standards. Hence, the use of e-filing websites is highly recommended in order to have better insight into your income tax returns and also helps you file your tax returns from the cozy comforts of your home or office.
How can you file your Income Tax Returns Online?
Listed below are the steps through which you can successfully file your income tax returns online.
- Register/ Login to your E-filing Account
If you do not have an e-filing account, register for one at https://incometaxindiaefiling.gov.in. However, if you already have registered previously, simply login to your e-filing account using your valid credentials.
Note: the user id is your PAN number.
- Check for Form 26AS
On the left panel of the window, click on View Form 26AS which subsequently downloads it. This form contains essential details like TDS, Self Assessment Tax, etc.
Note: the password to open this form is your date of birth in the format dd/mm/yyyy.
- Download the ITR form
On the quick menu, click on Download ITR to download the income tax returns form. ITR 1 is for single income users and ITR2 is for multiple income users. A successful download of the form results in a zip file which can be extracted easily using extraction software.
- Fill the details as per the calculations
Calculate the taxes online and fill the details accordingly. Once done, validate your details and upload the income tax return on the website. An ITR-V is sent to your email id subsequently.
- Send the ITR-V to the Income tax department
Self attest this ITR-V and send it to the corresponding department. Wait for the authorities to verify your returns and inform you the same via email.
The Need of Income Tax eFiling Sites in the Present Scenario
Filing of income tax returns is a very important aspect since it facilitates greater monetary savings in the TDS deductions. Moreover, the incorporation of e-filing websites for this purpose helps in easy and hassle free filing of income tax returns with effective monitoring options and grievance redressal systems so that the user does not have to face any problems whatsoever in filing his/her tax returns!!