The deadline for Income Tax Return (ITR) filing is nearing. Taxpayers are supposed to communicate their income and income from other sources in ITR filing for assessment year 2019-20 by end of July 31, 2019. With the deadline right around the corner, the Income Tax department has also opened the window for e-filing. For that, the department has unveiled income tax return preparation software as well. Last minute rush always works negative against taxpayers, as chances of errors and mistakes are higher. Recently, during the Budget 2019 announcement, Finance Minister Nirmala Sitharaman proposed an Aadhaar - Pan card interchangeable method, where if Permanent Account Number (PAN) is not available with a taxpayer they can quote the 12-digit biometric for successful ITR filing. 

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On its website, the department says, “All Income Tax Return Preparation Software for AY 2019-20 are now available for e-Filing.” If you visit www.incometaxindiaefiling.gov.in, at the right corner there is a link titled ‘IT Return Preparation Software’, once filled these a taxpayer can always submit the return online. 

These forms are allowed for Income Tax Return preparation.

ITR1 - For Individuals being a Resident (other than Not Ordinarily Resident) having Total Income upto Rs.50 lakhs, having Income from Salaries, One House Property, Other Sources (Interest etc.), and Agricultural Income upto Rs.5 thousand(Not for an Individual who is either Director in a company or has invested in Unlisted Equity Shares).

ITR2 - For Individuals and HUFs not having income from profits and gains of business or profession.

ITR3 - For individuals and HUFs having income from profits and gains of business or profession.

ITR4 - For Individuals, HUFs and Firms (other than LLP) being a Resident having Total Income upto Rs.50 lakhs and having income from Business and Profession which is computed under sections 44AD, 44ADA or 44AE. Note, this form is not for an Individual who is either Director in a company or has invested in Unlisted Equity Shares.

ITR5 - For persons other than:-  (i) Individual, (ii) HUF, (iii) Company and  (iv) Person filing Form ITR-7.

ITR6 - For Companies other than companies claiming exemption under section 11.

ITR7 - For persons including companies required to furnish return under sections 139(4A) or 139(4B) or 139(4C) or 139(4D).

The software is available in excel along with instructions on how to file the mentioned forms. 

Here’s how to do it!

Step 1 - Download the ITR preparation software for the relevant assessment year to your PC / Laptop from the "Downloads" page.

Step 2 - Prepare the Return using the downloaded Software.

Step 3 - Login to e-Filing website with User ID, Password, Date of Birth /Date of Incorporation and enter the Captcha code.

Step 4 - Go to e-File and click on "Upload Return".

Step 5 - Select the appropriate ITR, Assessment Year and XML file previously saved in Step 2 (using browse button).

Step 6 - Upload Digital Signature Certificate (DSC), if applicable.

Step 7 - Click on "Submit" button.

Step 8 - On successful submission, ITR-V would be displayed (if DSC is not used). Click on the link and download the ITR-V. ITR-V will also be sent to the registered email. If ITR is uploaded with DSC, the Return Filing process is complete. 

OR 

The return is not uploaded with DSC, the ITR-V Form should be printed, signed and submitted to CPC within 120 days from the date of e-Filing. The return will be processed only upon receipt of signed ITR-V. Please check your emails/SMS for reminders on .non-receipt of ITR-V.