E File Income Tax India


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How Can I E

Register for e Filing Taxpayer

Follow these mentioned steps to e-verify your return. It includes:

  • Visit and log in to the e-file Income Tax Return website.
  • Go to the My Account tab and choose the E-Verify option.
  • Then, the e-verify option will pop up.
  • E-verification can be implemented via four methods as described in the window.
  • Further, Choose the desired option. Then, OTP will be generated.
  • Input the OTP sent to you on your phone number and email address.
  • Your e-file Income Tax Return is successfully verified.

Note that: If you are unable to e-verify using the four methods provided, you must send a signed copy of your ITR to CPC Bangalore.

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Documents Required To Fill Itr

It is important to have all the relevant documents handy before you start your e-filing process.

  • Bank and post office savings account passbook, PPF account passbook
  • Aadhar Card, PAN card
  • Form-16– TDS certificate issued to you by your employer to provide details of the salary paid to you and TDS deducted on it, if any

Interest certificates from banks and post office

  • Form-16A, if TDS is deducted on payments other than salaries such as interest received from fixed deposits, recurring deposits etc. over the specified limits as per the current tax laws
  • Form-16B from the buyer if you have sold a property, showing the TDS deducted on the amount paid to you
  • Form-16C from your tenant, for providing the details of TDS deducted on the rent received by you, if any
  • Form 26AS – your consolidated annual tax statement. It has all the information about the taxes deposited against your PAN
  • a) TDS deducted by your employer
  • b) TDS deducted by banks
  • c) TDS deducted by any other organisations from payments made to you
  • d) Advance taxes deposited by you
  • e) Self-assessment taxes paid by you
  • Tax saving investment proofs
  • Proofs to claim deductions under section 80D to 80U
  • Home loan statement from bank

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Instant Tax Filing From Anywhere

ICICI Bank Internet Banking presents a simple and secure method for filing your taxes online.

File your tax in 4 simple steps

  • Login to your internet banking with User ID and passwordTo get your User ID, .To get your Password, .
  • Go to Payments and Transfers
  • Go to Manage your taxes
  • Select Income Tax e-Filing

You will be redirected to income tax india site and can utilize below host of services available in income tax india site without logging into income tax website.

  • Quick e-File ITR
  • Rectification Request

Federal & State Electronic Filing

India Income Tax efiling

It’s fast: Last year, refunds from electronically filed returns were issued in less than 2 weeks while many paper returns took up to 12 weeks to process. This year, our goal is 4 to 6 days for issuing electronic-return refunds.

It’s accurate: Because of all the computer checks built into the electronic filing program, these returns have a 98% accuracy rate. In contrast, 17% of paper returns have some sort of error which delays their processing.

It’s convenient: Since this is a combined federal-and-state program, customers will file both their federal and Indiana returns at the same time. You can participate in this program in two ways:

  • take your completed return to an Electronic Return Originator who can transmit your return information for you or
  • have a tax professional prepare your returns, then transmit them for you.
  • Don’t Miss: Your Tax Return Is Still Being Processed 2022

    How Do I Claim Dtaa In Itr

    Individuals should check if their country has a DTAA with India. You must submit Form #10 and present the following documents:

  • Self-Declaration Form in Disclaimer Format
  • Self-Certified Copy of PAN Card
  • PIO Evidence Copy
  • Tax Receipt Certificate .
  • Form 10 F:

    This form can be obtained from your bank or downloaded from incometaxindia.gov. on the website. Enter the required information such as the applicants nationality, tax ID number, address, and period of stay.

    Self Declaration:

    Self-declaration Self-declaration is information that an individual is required to provide information regarding the country which will be covered under the DTAA with India.

    Residence Certificate for Tax Purposes:

    This certificate must be obtained from the taxpayers country of residence for a particular financial year. After submitting the required documents and paying the prescribed fee, a certificate of tax payment will be issued.

    What Is Form 26as

    Form 26As is a vital document showing the portion of tax deducted at source on payments/investments made by individuals, employees and freelancers. This enables the taxpayers to claim refunds for any additional tax or overdue tax payments made.

    The new Form26AS, which is applicable from AY2020-21, has been refurbished to make it easier to file income tax returns online as well as encourage compliance with any tax regulations.

  • An important feature of the new Form26 AS is its statements of financial transactions. As the name implies, these are statements where the taxpayers recall all major financial transactions they have made which would be to their benefit while filing their returns.

  • The new format of 26AS will also show your Aadhar card details, date of birth, email and house addresses, your date of birth and also your mobile number.

  • It will indicate whether there are any tax proceedings which are pending or completed with the tax authorities.

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    Website Of Income Tax Department

    The Income Tax Department is governed by the Central Board for Direct Taxes and is part of the Department of Revenue under the Ministry of Finance. Users can get details related to the department, its organisational setup, functions, tax law and rules, international taxation, etc. Information about PAN, TAN, TDS, Form16, tax information network, Tax Return Prepare Scheme , Aaykar Sampark Kendra , tax payers, etc. is given. Users can access online services such as filing income tax return, pay taxes, view tax credit, status of tax return, etc.

    What Are The Tax Documents Required As Per Dtaa In India

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    NRIs are required to submit the above documents in order to receive the benefits and provisions laid under DTAA. These documents are

  • Tax exemption or self-declaration
  • PIO certificate copy
  • Apart from the above documents, the individual may: Proof of taxpayer residency must be provided to the tax withholding agent in order to be eligible for benefits under this DTAA agreement.

    Form 10FA must be submitted to apply for tax residency certification under sections 90A and 90 of the income tax act. After the successful review and processing of your application, a certificate will be issued on Form 10FB.

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    Know All About Income Tax E

    Whether you are a salaried individual or a self-employed one, filing income tax returns or ITR is a must if you come under the tax bracket. If you earn more than the tax exemption limit, then you are required to file your tax returns as per the latest norms. Every year, millions of people get busy around mid-year, i.e., July, to submit their income tax returns. Not only because it is mandatory by law, but it is also required for buying life insurance online, getting a loan, carrying forward losses, claiming tax refunds, and much more.

    If My Annual Salary Is Rs 50 Lacs Which Form Do I Need To Fill

    ITR 2 is the annual return form that must be filed if the taxpayer’s annual income is equal to or exceeds Rs. 50 lakhs. Consequently, the individual then becomes ineligible to submit ITR 1.

    Moreover, the taxpayer must also reveal the specifics of the owned assets. In the Schedule AL of the ITR form, assets and liabilities must be listed.

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    How To Check Itr Status Online

    Once you have filed your income tax returns and verified it, the status of your tax return is ‘Verified’. After the processing is complete, the status becomes ‘ITR Processed’.

    If you wish to know which stage your tax return is after filing it and want to check your ITR status online, here’s how you can do it in easy steps.

    Option One

    Without login credentials

    You can click on the ITR status tab on the extreme left of the e-filing website.

    You are then directed to a new page where you have to fill in your PAN number, ITR acknowledgement number and the captcha code.

    Once this is done, the status of your filing will be displayed on the screen.

    Option Two

    Your Capital Losses And Gains Will Be Adjusted

    Income Tax e

    If the value or offer market speculation has been your most important contributing strategy, then a handy recording of ITR will be highly beneficial to you. If your total yearly pay is less than the basic exclusion level, then filing an ITR is usually not required nonetheless, your capital losses can be offset against your capital gains. Furthermore, by doing so, you may ensure that your losses are carried forward for the next eight consecutive years, depending on whether you have registered your return for that specific Fiscal Year.

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    One Time Verification Of Past Itrs By September 2020

    The Income Tax authority of India has allowed one time verification of previously filed returns up to September this year. Previously, tax payers were given only 120 days’ window to verify the returns from the date of filing the same. The up to September 2020′ one time verification provision is for those taxpayers who have not verified their tax returns from the assessment years 2015-16 to 2020-21.

    Whenever someone files a return online, the same has to be verified by dispatching the signed ITRV slip by post or digitally to the CPC, Bengaluru. The verification is a declaration by the taxpayer confirming that the details provided in the returns he filed is true and correct. Tax return verification is crucial, as in the event of a return not being verified, the tax filing process is rendered incomplete. The taxpayer can thus incur penalties.

    It Will Be Considerably Easier To Acquire Assets/foreign Assets

    Anyone who owns a foreign asset is required by law to file their income tax filings accurately online. This rule also applies to any transportable property you hold, such as a bank account. Failure to comply with this rule may result in significant fines and is also regarded as a serious economic offence.

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    Terms And Conditions Of E

    Following are the charts of the Income Tax slab for the financial year 2020-2021, for regular citizens, for senior citizens, for super senior citizens, and for domestic companies. Check out:

    Income Tax Slab for Financial Year 2020-2021

    Income Tax Slab

    3% + surcharge


    7% if the income is more between INR 1 to 10 crore. And, income above INR 10 crore will be taxed 10%.

    12% of tax if the total income exceeds INR 1 crore.

    Note that: According to the latest income tax rules, regular citizens having a net tax taxable income of up to Rs. 5 lakh are eligible for a complete refund of up to Rs. 12,500 under Section 87A, effectively eliminating their tax liability.

    Electronic Filing Requirements For Individual And Fiduciary Tax Preparers

    Raise Service Request on e Filing portal
    • Fiduciary Income Tax: Tax preparers are required to file fiduciary income tax returns electronically, but there is no requirement to make payments electronically.
    • Individual Income Tax: Paid tax preparers who prepare, or employ people to prepare, 50 or more individual income tax returns a year are required to file electronically. If they prepare 50 or more returns in a taxable year, then for each year after, they must file all individual income tax returns electronically.

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    Income Tax Return Filing Procedure

    Before filing an individual IT Return, In case of a salaried person- he should have Salary slip, Form 16, interest certificate from bank or post office if any, Form 26 AS , chalan of advance tax paid if any and bank account details. As the online IT Return filing procedure has been simplified over the years, mostly individual ITR such as by salaried taxpayer is done on their own.

    when they need to claim deductions for a house loan and interest or when they claim deduction under 80 C there is much confusion which makes them file an incorrect return. In that case, they reach out to tax consultants nearby them for online IT Return filing.In the case of companies, Tax Consultants such as Chartered Accountants can help file the Income-tax return form. For companies, technical issues such as claiming of expenses, calculation of taxes, carried forward of losses etc are an important matter which is looked after by a consultant. For company various documents are required, the primary documents required in income tax India efiling are audited balance sheet, Form 26AS, deductions details under section 80, details of bank accounts. Various other documents are required based on in which sector a company operates.

    Compute Final Tax Payable

    After you’ve calculated your tax burden in the previous step, deduct the taxes you’ve already paid during the year through TCS, TDS, and Advance Tax. Then, add interest, if any, due under sections 234A, 234B, and 234C.

    Further, Individuals who owe additional taxes can pay them in person with a check or online with challan ITNS 280. Moreover, payment of self-assessment tax is income tax paid after March 15 of the financial year for which a return must be submitted.

    In addition, within 2-3 working days from the date of payment, it should appear on your Form 26AS. Make sure to double-check. However, as the rush to deposit self-assessment tax intensifies toward the close of the financial year, this time frame may be extended.

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    Frequently Asked Questions :

    Who is eligible for DTAA?

    DTAA applies when an individual is resident in one country but earns income in another. The DTAA can be comprehensive, covering all sources of income, which means that it will tax income from shipping, inheritance, aviation, etc.

    Who can claim DTAA in India?

    A DTAA helps her NRI working abroad to avoid double taxation on income earned in both their residency and India.

    It Will Be Straightforward To Obtain Your Tax Refunds If You File Income Tax Returns

    Steps to File Income Tax Online in India: E

    After a certain type of tax is deducted , a tax refund can be sought only if an income tax return for that fiscal year is submitted. As a result, if you are an NRI and pay TDS on your rental payment, or if TDS is taken from your bank accounts’ fixed deposits, you must file your returns in order to be eligible for a refund. Once you have finished that year’s ITR filing, you must claim your refund online using the site.

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    Processing Of Tax Returns

    The income tax department will begin processing your efiling income tax return when it has been checked. Moreover, it can be checked either electronically or physically, to confirm that all of the information you provided is correct as per the Income Tax Act, and to cross-check the information you provided with other data.

    Further, when the return is processed, the I-T department sends you an email to your registered email address. In case, any differences are discovered, you may be asked to provide more information or remedy any errors made when filing the initial ITR.

    How To Link Aadhar To Income Tax Returns

    it is compulsory for every individual taxpayer to quote their Aadhar number while filing tax returns. He/she is also required to link their PAN card to their Aadhar number. One cannot file a tax return either digitally or manually unless the Aadhar number is quoted. Senior citizens can file their tax returns manually but those below 80 years of age have to file it electronically.

    To link your Aadhar number to your income tax return-

  • Type or write down the number in the additional spaces provided in the new ITR forms provided in the Income Tax website.

  • If you have applied for an Aadhar number but have not received it, you can use the 28 digit enrolment ID in place.

  • The Aadhar number gets automatically populated in the ITR forms if it has been electronically added before.

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    Consequences Of Not Filing The Itr

    In case, the returns do not get filed on or before the due dates, a penalty of Rs. 5,000 is imposed under section 234F. Moreover, if the taxpayer’s yearly income is less than or equal to Rs. 5 Lacs, the penalty amount will not exceed Rs. 1000.

    In addition, if the taxpayer has an annual income of more than Rs 5 lacs and files his returns after the 31st of December, a penalty of Rs 10,000 is imposed under section 234F.

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