Income Taxs Returns

To file your Income Tax returns, you need to fill and submit the requisite forms (ITRs). There are different ITRs to file your income returns, depending on your profession/business/property. The four types of Income Tax Return forms applicable for individuals and Hindu Undivided Families (HUFs), depending on the source(s) of income, are: Saral-II (ITR-1), ITR-2, ITR-3and ITR-4. Individuals having income from Salary / Pension / Family Pension & Interest may use ITR-1to furnish their returns.

Supporting Documents

Supporting documents that you require to calculate tax liability while preparing IT Returns are:

  • Form No. 16 (received from the employer): Form 16 is the Annual Salary Statement issued by your employer and provides details about the income earned and tax deducted during the year.
  • Form No. 26AS: The Income Tax Department through the National Securities Depository Limited (NSDL) sends taxpayers a document called the 'Annual Tax Statement' or Form 26AS. This statement gives information about tax deducted and collected at source by entities such as employers and banks for your permanent account number (PAN) in a certain year.
  • Summary of account:
  • Details of property owned:
  • Details of sale & purchase
  • Details of any other tax payments made during the year.

It is also mandatory to quote the Permanent Account Number (PAN) while filing the return.

Manual Filing

  • Download and complete the appropriate ITR form
  • File the return with the concerned ward in the Income Tax Department of your jurisdiction.
  • Obtain receipt for your return
  • There is no need to attach any supporting documents with your return. However, you must have these available in case called for.

E-Filing

Tax Returns through the Internet is known as e-filing of. It offers convenience of time and place to tax payers and is available round the clock to taxpayers located in any place in the world.

  • Login to the official website for Income Tax e-filing
  • Read the instructions given on the website
  • Select and download the appropriate Income Tax Return form
  • Download Return Preparation Software for selected Return Form.
  • Fill your return offline and generate XML file.
  • Register and create a user id/password.
  • Login and click on relevant form on left panel and select "Submit Return".
  • Browse to select XML file and click on "Upload" button.

3 ways to file returns electronically

Option 1: Use digital, in which case no further action is required.

Option 2: File without digital signature, in which case ITR-V form (66 KB) is to be filed with the department. This is a single page receipt-cum-verification form.

Option 3: File through an e-return intermediary who would do eFiling and also assist the assessee file the ITR -V Form (66 KB)

  • On successful upload acknowledgement details would be displayed. Click on "Print" to generate printout of acknowledgement/ITR-V Form (66 KB)
  • In case the return is digitally signed, on generation of "Acknowledgement the Return Filing process gets completed.
  • In case the return is not digitally signed, on successful uploading of e-Return, the ITR-V (66 KB) Form would be generated which needs to be printed by the tax payers. This is an acknowledgement cum verification form. The tax payer has to fill-up the verification part and verify the same. A duly verified ITR-V form should be submitted with the local Income Tax Office within 15 days of filing electronically. This completes the Return filing process for non-digitally signed Returns