Struggling to figure out how to file income tax return. Here is a step-by-step guide for salaried individuals to file income tax in just 190 seconds.
If you new to E-filing your Income Tax return, then read this guide on how to register and complete the process of income tax efiling.
- Step 1: Download ITR1 software for 2018 from here.
- Step 2: Prepare the Return using the downloaded Software
- Pre-populate the personal details and tax payments/TDS by clicking on the ‘Pre-fill’ button. Compare with the information you have to ensure that nothing is left out.
- Enter all data and click on ‘Calculate’ to compute the tax and interest liability and final figure of Refund or Tax payable
- If Tax is payable- remember to pay immediately and enter the details in appropriate schedule. Repeat above step so that tax payable becomes zero
- Generate and save the Income Tax Return data in XML format in your PC/Laptop
- Step 3: Login to an e-filling website with the User ID (PAN Card), Password, Date of Birth, 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: A pop-up will be displayed asking you to digitally sign the file. In case you have obtained a digital signature, select’˜Yes’. If you have not got a digital signature, choose ‘No’.
- Step 7: Click on “Submit Button”
- Step 8: If ITR is uploaded with DSC, the Return Filing process is complete. If the return is not uploaded with DSC, check following steps:
- Take a printout of the form ITR-V and sign it in blue ink
- Send the form by ordinary or speed post to the Income-Tax Department-CPC, Post Bag No. 1, Electronic City Post Office, Bangalore, 560 100, Karnataka within 120 days of filing your returns online.
And you are done 🙂 Feel free to post your queries in comments.