Complete Guide on How to File Income Tax Returns

There are two ways of going about this. The first is:

  1. Download the ITR software to prepare your return.
  2. Follow the instructions within the software to fill the form.
  3. Enter the data, choose ‘Calculate’ to find out the tax liability and income tax refund.
  4. If there is any tax to be paid, do the needful.
  5. Save the income tax return data in XML format.
  6. Log in to the official government e-filing website.
  7. Under the ‘E-File’ tab, select ‘Upload Return’.
  8. Choose from the appropriate income tax return form – ranging from ITR 1-7. The Form will depend on the nature of the tax payer – whether it is an individual or an enterprise, and the nature of income.
  9. Select the correct Assessment Year.
  10. Upload the filled XML data sheet from your computer.
  11. Submit the form along with the Digital Signature Certificate (DSC), if you have one. Otherwise, download the ITR-V, fill and sign it, and post it to the Centralised Processing Centre (CBC) within a hundred and twenty days of printing. Only when the CBC receives it, will it be considered that your income tax return filing has been completed.

The other way of easy IT return filing online entails the following steps:

  1. Register or log in to the official government e-filing website.
  2. Head to the e-file section on your account page and select ‘Prepare and Submit ITR Online’.
  3. When you are doing the e-filing of income tax return, ensure that you choose from the appropriate income tax return form – Only ITRs 1 and 4S can be filled through this method.
  4. Choose the correct Assessment Year.
  5. Fill the details.
  6. Click on ‘Submit’.
  7. Similar to the previous online income tax return filing way, you will either submit your income tax return with a DSC or print the ITR-V and send the signed document to the CBC.

Now that you have successfully filed your income tax online, you would be keen to know the income tax return status. To check the status, simply log in to the official government IT e-filing website and select the correct Assessment Year from the options given to know the status.

Learning how to file income tax return is a skill that each one of us must have.

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