Income Tax: File ITR online in six easy steps

Unlike earlier times, Income Tax return filing process has now become more simpler and can be done in few clicks. For the financial year 2017, the deadline to file ITR is just six days away. 

If you are filing ITR for the first time, the best way to do so is E-filing!

E-filing or electronic filing is submitting your income tax returns online. There are two ways to file your income tax returns. The traditional way is the offline way, where you go the Income Tax Department’s office to physically file your returns. The other way is when you e-file through the internet.

You can e-file for returns for the current, as well as the previous year from the same account. Moreover, you can even e-file tax returns for your friends and family from your own account.

By now, you must be having you Form 16. If you are a salaried employee then your company must have provided you and if you are a professional or a self-employeed, you can easily get it from Income Tax India official website. 

Even for filing ITR online, there are two ways. One way is to download the form, then fill it offline and then again uploan it back on income tax website. Another way os to choose the form online and fill the data directly online and submit it. 

Documents you required:
1. Pemanent Account Number (PAN) and Aadhaar Card
2. Form 16
3. Investment details (like LIC, PPF, NSC)
4. Home loans
5. Bank account details

If you have selected the first option, you can file ITR in six steps: 

1. Go to incometaxindiaefiling.gov.in and under "downloads" section, click on ITRs. 

2. This will direct you to all ITR form available. There will be seven ITR which will have their briefs. Depending your category, select the relevant form. The forms will be available in two formats: Excel and Java, you can choose between the two. 

3. Next step is to fill in your details in five sheets. The sheets have Income details, tax deducted at source, Tax collected at source, tax paid and 80G. 

4. Once all the details are entered, generate the form in "XML" version. 

5. Upload the XML version file on the income tax website by login in if you have already registered on the efiling website. 

6. Select assessment year and provide your digital signature. Once that is done, click on "sumbit" button. The acknowledgment receipt will be sent to you on your provided email id. 

So, do not wait for the last day as you may face technical issue due to high traffic on the website. 

ALSO READ:

• Income Tax: Five places where you need to show ITR copy as proof
• Filed Your Income Tax return and realised you made a mistake? Here's what to do
• Income Tax: File ITR before July 31 or face penalties
• First time filing income tax? Here's all you need to know about Form 16 and Form 26AS