Filing Income Tax Returns

[sgiitk 32]

It is pretty simple to do it directly on their site https://incometaxindiaefiling.gov.in/portal/index.do

1. Register your PAN. You need the PAN number and date of birth for it, if not already done.

2. Login at the site with PAN and password.

3. Select and download the correct form. For salaried it will mostly be ITR1. The form will be an Excel spread sheet.

4. Make sure you have all the data with you.

5. Login and check your Form 26A. You access it through My Account > View Tax Credit. If there is a discrepancy them watch out. They will only allow what is on the form. Save the form and log out.

6. Hopefully sec 5 will throw up no discrepancy.

7. Open the spreadsheet enabling macros.

8. Now fill up the form.

9. You can Validate to check each page.

10. Now 'Calculate Tax'. The last page will show up the refund or payment if any is due. If payment is due clear it up. You should be on Zero or refund.

11. Assuming everything is fine. You can print out the pages. I prefer this route to the 'Print Option'.

12. Check once again and then 'Generate'.

13 Log in once again and then you can upload your form (XML file from above).

14 Now download and print out the Acknowledgement (ITR-V)

15. Sign and post one copy as instructed. Print using a Laser or Deskjet printer. Dot Matrix will not do since the 2D Barcode at the bottom has to be read at their end. Sign in Blue.

16. Post in an A4 envelope (no folding) the the address specified. Hopefully you will have the acknowledgement on e-mail in 2-3 weeks. If nothing then post again.

I am no tax consultant but find this straight forward. If you have a digital signature then Step 16 is not required. Registration and Uploading will be a slightly different.

Edited July 25, 2011 by sgiitk

[city02 63]

gave it a try also

here is my version of an easy site tax filing site design as opposed to the half a dozen i've tried out:

• no registration required!
• use facebook / twitter / yahoo etc. for login
• upload form 16
• take all details like name, addr, dob, etc directly from pdf
• upload form 16a [if any]
• connect to NSDL to get all TDS details
• highlight any deductions missed for tax planning purposes
• enter any other income / rental [first real data entry]
• any taxes / expenses / loan interest for deductions
• in case of any refund take bank details [optional]
• in case of dues, allow online / netbanking payment
• review before submitting
• pay then submit [amazon style - payment / login is delayed as much as possible in the flow since its a 'barrier']
• print or get digital sign
• provide option to have return emailed as backup [so even email is not required if you don't want a backup]

the future versions would allow upload of home loan pdf also to bring in principal & interest details to further reduce data entry

Try http://cleartax.in/ It creates the sahaj pdf format which is editable. So if you want to make further changes, you can just edit the pdf.

[phonegeek 588]

Cleartax.in is the most user friendly site. Guys give it a try if you not comfortable with IT deptt excel file.

[city02 63]

http://www.simpletaxindia.org/2010/07/234-234b-234c-interest-calculator-free.html

this is very useful if a human is doing your taxes for you so you can double check their calculations

i saved a few thousands in incorrect charges u/s 234 b that my helpful CA had nicely added on!

its only applicable if 90% of your advance taxes have NOT been paid ...

in my case 92% was paid via TDS

with 'friends' like these who needs enemies?

[joshm 818]

could you guyz help me here :

i am a salaried person , my tax has been deducted at source and i have been given form 16 ( asking late coz the employer gave the form 16 just yday )

okay do i haave another smallish source of income through internet i mean i receive payments in $ from overseas and transfer it to my bank account.

i donno how to file the return with this new source of income its more of some consultancy work really.

also i would like to pay taxes on this extra income too , could some of you good guyz guide me pl.

regards

[rajanmehta 4,056]

@joshm

As you have said the $ income part is smallish that means it would be smaller in rupee value than your total salary income. If that's the case, your main income category remains from salaries. You need to file ITR 2.

Include the Gross Rupee Value of your $ Income in ITR 2 under Income From Other Sources at this location,

Schedule OS >> 1. Income other than from owning race horse(s):- >> d.Others, Gross (excluding income from owning race horses)

If you've spent for any expense to earn that income like bank charges, other exp. etc, deduct that in the same section under f >> Deductions under section 57:- >> Expenses.

Once your total income is computed, see the total tax on it after your TDS deducted as per form 16. Pay the shortfall as self assessment tax.

However if your $ income is larger than Salaries in rupee value and as you said it is from Consultancy, technically your category will change from a salaried person to Business Income and the return you need to file will be ITR 4.

[tarun_kabra 204]

Quiet good explanation rajanji.

You are master in all the fields.

Tarun Kabra

Sent from my Samsung Fascinate

[thilak.kmb 19]

Though late this info can help.

There are certified tax return preparers (TRP) trained and certified by the department. They are supposed to collect only Rs. 250/ per case.

[joshm 818]

Thanks a Lot Mr Rajan , thats pretty lucid

@ thilak.kmb thanks mate !!! : where to contact those tax return preparers , i have heard a lot about them but but dont know where they are found

regards

[MVP 3]

where to contact those tax return preparers , i have heard a lot about them but but dont know where they are found

They would be many TRPs with temporary office setup inside the income tax office compound.

[I_C_U 10]

Instead of looking for a TRP at this stage, I would suggest to just go ahead and file your return on your own.

Rajan has clarified everything in very easy language.

Though ITR- 4 is a big form and you may find it little diff. to fill in, I guess you will most probably need ITR-2.

In any case write-in here if you are stuck anywhere.

[tanveer 59]

so what are you guys doing this year? Which is the best site?

[ami1 237]

^ I always file directly on income tax dept site. ie https://incometaxindiaefiling.gov.in - without digital signature for last few years and maybe i'll do with digital signature from this year.

Just download the excel ITR applicable and fill it up and generate xml (after validate & calculate buttons) and then upload the xml to above site.

Either digitally signed OR print & sign a 1 page form and send to IT Dept by snail mail.

[parag31 1]

There are few things as per my view should be considered before filling Return of Income for the F.Y. 2011-12.

For my view Taxguru.in is very nice site for any type of information which is required.One who is filling Income Tax Return with himself please visit once before filling.

There are new things for this year's Return like No need to file(not compulsory to file) Income tax Return for salaried employee Gross Total Income below Rs.5 Lacs.(please refer http://taxguru.in/income-tax/faq-exemption-filing-incometax-return-salaried-total-income-exceeding-rs-500000.html)

Which ITR Forms should be used please refer (http://taxguru.in/income-tax/itr-ay-201213.html)

One can download free excel software from Taxguru.in. Please refer (http://taxguru.in/income-tax/online-return-preperation-software-itr-1-2-3-4s-ay-201213.html)

[tanveer 59]

With a digital signature it should be totally paperless right? What are the charges for the whole process on income tax India website?

[phonegeek 588]

They dont charge....

Sent from my SPH-D710 using Tapatalk 2

[tanveer 59]

Digital signature?

[phonegeek 588]

They dont provide the digital signature. You have to contact vendors who issue it. For filling on IT site, there is no charge.

Sent from my SPH-D710 using Tapatalk 2

[ami1 237]

Digital signature is around Rs 1000/- (if you need a usb token then its little higher) or Rs 1400 for 2 years.

I use www.e-mudhra.com/ but you can get links of other digital signature providers from the income tax site FAQs: https://incometaxindiaefiling.gov.in/portal/faq.do

click on 'digital signature related questions > providers' - https://incometaxindiaefiling.gov.in/portal/faq_signature.do#DCQ4

You need a Class 2 personal certificate/signature (DSC). But if you don't use the DSC for anything else then its not much use to get it only for IT return. You might as well send 1 page form by post after filing the xml online.