Know Everything About The e-filing Of Tax Return

As it stands today, Income Tax Returns can be filed either online or offline. Individuals or entities have to mandatorily file their IT returns when their annual income is Rs.2.5 lakhs or more, failing which may impose penalties on the errant party. Needless to say, efiling income tax is a much convenient option.

What is the process of ITR e filing?

The entire process of eFiling ITR is 3-tiered, comprising of – Registration, Login and Filing. The procedure has been elaborated below.

  1. eFiling registration

Step 1: Visit the eFiling portal of Income Tax.                                           

Step 2: The ‘Register Yourself’ option is located on the right side of the page. Click on it to initiate the process.

Step 3: Select from the ‘User Type’ and then hit ‘Continue’.

Step 4: In the following page, personal details such as name, date of birth, status of residence, permanent account number etc. have to be entered. Once all the requisite information has been filled in, click on the ‘Continue’ button. Further information such as contact number has to be entered. After that, click on ‘Submit.’

Step 5: Once all the necessary details are filled in, a One-Time-Password (OTP) of 6 digits will be sent to the registered email ID and mobile number. Put in the OTP and click on ‘Validate.’

Please note that once the registration is complete, the user ID for login will be the Permanent Account Number (PAN). Incidentally, PAN is also taken as identity proof among all the documents that you need for a home loan.

  1. eFiling login

This stage comes after the registration process is complete. You can log in with your User ID (PAN), password and captcha to access the income tax filing portal.

  1. eFiling Income Tax

Step 1: After logging in, select the ‘Income Tax Return’ located under ‘e-file.’

Step 2: In the following page, ‘Assessment year’, ‘ITR form type’ has to be selected, and then click ‘Continue.’

Step 3: The authentication type has to be selected and then continued to the next page

Step 4: Fill in the first section with personal information such as name, address, email ID, employment details, etc. The following section would include details on income as well as deductions. The next series of sections include tax details, tax amount already paid and deductions claimed on donations (if any). Once all these particulars are put in click on ‘Submit’. After the completion of verification, a confirmation will reach in the registered email ID.

Which entities are allowed eFiling of Income Tax?

Any entity that is required to pay Income Tax can do the filing online. To that effect, organisations and individuals mentioned below are allowed e-Filing –


       Corporate firms

       Body of individuals

       Hindu Undivided Family

       Resident individuals

       Artificial Judicial Persons

       Association of Persons

       Local authorities

Documents required for filing Income Tax Returns

Whether the filing is online or offline, taxpayers will have to submit certain documents to attest to their calculations. Some of those include –

  1. General details – PAN number is necessary along with bank account details.
  2. Salary income Payslips have to be submitted along with Form 16 and receipts for HRA claim (if any).
  3. House property income – Documents required in this regard are home loan interest certificate, receipt of rental income from a tenant (if applicable) etc.
  4. Capital gains – It can be shown in stock trading statements, mutual fund statements etc.
  5. Other income – This parameter includes income generated from interest from savings accounts, bonds etc. Income from deposits in the post office should also be reported. All these sources are considered because for other financial transactions, and these are also taken under aggregate income.

For example, availing a home loan would require multiple documents like income proof. However, some financial institutions simplify the process through a pre-approved offer. You may check your pre-approved offer by only submitting your name and contact number.

Benefits of Income Tax eFiling

The major advantages of eFiling Income Tax are –

       Income proof – This acts as a proof of the income of the taxpayer. The filed ITR is important while engaging in any business transaction with any other organisation. For instance, this proof of income is one of the major factors that can affect your home loan eligibility.

       Record of transaction – There is higher efficiency in keeping track through ITR eFiling of the financial transactions undertaken with the Income Tax department.

       Tax refund claim – Claiming income tax refund becomes all the more convenient in case of online filing.

Read Also: What Is Income Tax Return E-Filling?

Given that Income tax Return filing amounts to disclosure of income, any discrepancy in the same can lead to serious consequences. If there is a delay in filing, i.e., filed after the due date or was not filed at all, a penalty will be imposed on the taxpayer under section 234F of the Income Tax, 1961.




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