For some online ITR filing is more like a stressful issue while for some it is not. Ever wondered why? The only thing which differentiates both is the income tax consultant, a financial expert who is guiding you throughout your financial year. Finding the best CA Services online was a difficult task up till now, but now it’s pretty much easy to find an income tax consultant in your area and get your online ITR filing done, before the due dates dodging every scope for non-filing of income tax return on time.
DUE DATES OF ONLINE ITR FILING:
Income tax return is done via a prescribed form which specifies the income earned throughout the financial year and taxes paid on it thereafter. This information on income tax return filing must be provided in the format prescribed to the income tax department before the due dates. Since income tax return filing requires calculations to be done, therefore it’s a sheer possibility that there are some miscalculations or some over or underestimations made. This is when you will have to focus on online ITR filing.
Online ITR filing is an electronic mode of ITR filing which through which a taxpayer can carry forward they lose or claim refunds from the income tax department. There are different ITR filing forms which are associated with different categories assesse?
| ITR FORMS | PARTICULARS |
| ITR-1/Sahaj | Individuals having income from salary, House property & other sources Total income up to 50 lacs. |
| ITR-2 | Individuals/HUF not carrying business or profession under proprietorship. |
| ITR-3 | Individuals/HUF earning income from proprietorship |
| ITR-4/Sugam | Opting for Presumptive tax scheme |
| ITR-5 | LLP, Firm, Trust, Co-operative society etc. Those covered under ITR-7 shall not fill this form. |
| ITR-6 | Companies other than those claiming exemption under section 11 of Income tax act. |
| ITR-7 | Entity (person or company) required to furnish details u/s 139 [4A, 4B, 4C, 4D, 4E] of Income tax act, 1961 |
You can make your IT Return filing much more effective and less burdening process if you follow the checklist: (1) Don’t forget the due date of online ITR filing. (2) Plan your investments beforehand. (3) Find Online CA Service. (4) E-Verification of IT Return. (5) ITR Form which you are eligible for. (6) Documents required for online Income tax return filing. (7) Check your online ITR filing status.
FREQUENTLY ASKED QUESTIONS (faqs)
Q What is the procedure of online ITR filing?
* Go to e-Filing portal on Income tax website [www.incometaxindiaefiling.gov.in]
* Enter PAN Card number which is the user ID, Password, Captcha code and then ‘Login’.
* Tap on the ‘e-File’ and then ‘Income Tax Return’ link.
* Select Assessment Year, ITR Form Number, Filing Type, Submission Mode and Submit Online.
* Click on ‘Continue’
* E-verify your IT Return (ITR)
* OFFLINE METHOD (Paper verification)
* ONLINE METHODClick on ‘Preview and Submit’ button, Verify all the data entered in the ITR.
* Submit the ITR.
Q What is the last date for online ITR filing for FY 2019-20?
| Status of Taxpayer | Due date (Assessment year) |
| Individuals/HUF/Association whose accounts does not requires to be audited | July, 31st |
| Persons whose accounts needs to be audited: – Company – Partner of a firm – Individuals | September, 30th |
| Assessee who needs to furnish report under section 92E | November, 30th |
Q How to check the status of your Income tax return?
1. Checking your online ITR filing status is a very easy process, just follow the steps with the help of reference links mentioned foreside:
2. Go to Income tax website [https://www.incometaxindiaefiling.gov.in/home]
3. Find “ITR Status” on the left side vertical bar menu
4. Click on “ITR Status”
5. A new window of “ITR Status” will pop-up [https://www1.incometaxindiaefiling.gov.in/e-FilingGS/Services/ITRStatusLink.html?lang=eng]
6. Fill in your details such as PAN card number, Acknowledgment number & Captcha.
7. Click “Submit”
Q What are the documents required for Income tax return filing?
· PAN Card: PAN is a ten-digit alphanumeric number which is issued to an individual by the income tax department.
· Form 16 issued by the employer: Form 16 is divided in 2 parts viz. Part-A & B. Part-A contains the details of tax deducted/deposited in the central government account. Part-B contains the details of the salary paid and any other income tax deducted.
· Interest income documents: Bank statement, Interest statement on fixed deposits, TDS Certificate & any other form which specifies the interest income which you have earned in the previous year.
· Form 26AS: 26AS is an annual consolidated credit statement which contains all information of tax being deducted on your income throughout year. This is an auto generated form which an individual can download from the income tax website.
· Document required to claim the expenses: Certain deduction depends on the actual expenditure being done on the same therefore keeping the track of these expenses is needed such as:
– Contribution to provident fund
– Children’s school fees
– LIC premium
– Stamp duty/registration charges
· Other documents: Interest on housing loan, education loan and stock trading statement which will specify your tax on capital gains.
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