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How To File Income Tax Returns (ITR) Online In India

Income Tax Return
Income Tax Return

The deadline for filing ITR is August 31, 2019

Most people who have an income are obligated to file an income tax return (ITR). Filing income tax returns in India is almost an effortless process.

You can easily file ITR for free on the official website of Income Tax Department or by visiting a third-party IT return filing website. The deadline for returns online this year is August 31, 2019.

The procedure for filing income tax returns differs from person to person in India.

Before we let you know how to file ITR online in India, you must know about different types of ITRs in India.

Which ITR to file

For people looking to file income tax returns in India, there are four types of income tax return (ITR) forms to consider. These are as follows-

  • ITR-1: Salaried people with income below 50 lakhs per year should file ITR-1. Here you are obliged to maintain income from one house property, agricultural income up to five thousand rupees and income from other sources.
  • ITR-2:  Generally, ITR-2 applies only to people whose income is beyond 50 lakh rupees but if you have any capital gains to claim (such as income from mutual funds), then you require to file ITR-2. There are certainly other types of revenues, such as foreign income, multiple house properties, etc. that fall under this.
  • ITR-3: Besides the types of income specified under ITR-2, if you have income from business or any other profession, then you must file ITR-3.
  • ITR-4: If all of your income sources are categorized under ITR-1, but your total income is above 50 lakhs per year, then you must file ITR-4.

You must decide in advance which ITR to file, but be sure to double-check this.

It’s recommended to consult a chartered accountant if you are not sure or have income types not stated above.

This guide will cover filing income tax returns for salaried people, particularly those who fall under ITR-1.

How to file ITR online?

Now that you know which type of ITR to file, you can do this simply and for free on the Income Tax Department’s e-filing website.

You need to follow these steps.

  1. First, you need to create an account on the IT department’s website. You can click here to do it. For most people, the type of user has to be Individual. Just follow the on-screen trigger and fill the required details. Once your account is created, follow the next step.
  2. Go to the Income Tax e-filing website and log in to your account.
  3. Click Filing of Income Tax Return.
  4. On the next page, you need to select your Assessment Year. This can be a little complicated, but here is what you need to know — the assessment year is the year after the financial year of your return. For example, if you are filing an IT return for the fiscal year 2018-19, the assessment year is 2019-20.
  5. Following select the ITR Form Number, Filing Type (should be original/amended return), and then Submission Mode. For the last one, we chose to Prepare and submit online.
  6. Then select Continue.
  7. This year the income tax department has made it very comfortable to file IT returns online by pre-filling a lot of information about your income. So if you are a salaried person with no other source of income and you claimed your investments and expenses (such as rent, PPF, etc.) to your company, you may not even have to fill in any data. In our case, the form was pretty much pre-filled, and all we required to do was add our bank details.
  8. To do this, click the Taxes and Verification tab to add your bank details. Now scroll down to D21. Bank Account Details, add the information and click Add. This is necessary and will assist you to get income tax refund credited in your account. Once you have made assured that these are accurate, be sure to scroll to the bottom and click Save Draft.
  9. Next, undergo each of the tabs beginning with General Information. Make sure your name, address, and other information is accurate.
  10. Then, click the Income Details tab. This is where all of your salary information will be pre-filled. If not, get Form-16 from your employer and manually add all of your income details.
  11. Now scroll down to section B5. Gross Total Income. You can double-check here if all the deductions are accurately inscribed. Things such as life insurance premium, PPF, NPS investments, health insurance premium, etc. should be filled here. Do not forget to check C15. 80 TTA Interest on saving bank accounts and key in interest earned throughout the year from your savings accounts.
  12. Finally, check C18. Total Deductions and C19. Taxable Total Income. Once you have made sure that these are accurate, be sure to scroll to the bottom and click Save Draft.
  13. Now, you need to check the 80G tab and claim for charitable donations, if you have made any.
  14. Once again, go through all the tabs and see if there’s any information you need to add or anything was missed. Once all of this is done, go to Taxes Paid And Verification and scroll to the bottom. Click I would like to e-verify and then click Preview and Submit.
  15. Now click OK in the confirmation box.
  16. The next page will show a preview of your entire ITR. So, please read everything carefully and make sure all details are accurate. Then click Submit.
  17. Now, you’ll see a pop-up where you can select how you want to e-Verify your IT return. Select Aadhaar OTP if your Aadhaar and phone numbers are linked. Otherwise, choose Net Banking. Then click Continue.
  18. Now click Submit.

Congratulations. If this process was successful, you would see this validation message: “Your Return has been successfully uploaded.” If you haven’t e-verified it yet, but you can do that up to 120 days after you file your IT return. It’s a simple process through net banking and even simpler with Aadhaar OTP. Just log in to your IT e-filing account and click My Account > e-Verify Return > e-Verify. Now follow the step17 mentioned above, and you’re done.

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