Return of Income Tax is a critical function that must be carried out by all individuals and organizations within India who have taxable income. The Indian Government has made substantial progress in the digitization of the process. Currently, the Return of Income Tax can be filed through the Online Tax Portal. The experience of paying taxes is now easier than ever before.
Through this article, we shall walk you through the steps necessary for accessing and submitting Income Tax Returns online in India. We shall also examine the functionality of the Income Tax Portal and explore some of the forms that are available on this online platform.
Filing an ITR online is an easy task, thanks to the Income Tax Portal. An income tax return can only be filed online by first creating an account on the income tax portal. These are the steps that need to be followed in order to file an ITR online:
The Income Tax Portal (https://incometax.gov.in) is an official online platform where taxpayers can file the Income Tax Returns online, as well as access information related to taxes and perform other tax-related tasks online. The Income Tax Portal has an online interface that creates a secure space where taxpayers log in to file their tax returns, check the status of the refund, and display the details of the tax returns online, among other tasks.
For a taxpayer to access the income tax online platform, they are required to follow the steps below:
To access the Income Tax Portal directly visit https://incometax.gov
Click on the ‘Login Here’ option which is madeavailable on the home page.
Please input your User ID (your PAN number) and Password.
Please complete the Verification of Captcha to assure that you are not a Robot.
After successfully entering your login credentials, click the Login button.
Filing your ITR online through the Income Tax Portal can be done in a few simple steps:
Select Appropriate Form of ITR According to Income: Select the form based on your income. You may opt for ITR-1 if your income sources are fixed and do not exceed ₹50 lakh.
Most information is filled automatically when you refer to your PAN number and previous returns filed. Carefully check your information and fill the missing details regarding your income, deductions, and taxes.
You are ready to submit your ITR after entering all the required details. Your form should be thoroughly verified before the final ITR submission.
Once submitted, the next step would be to verify your ITR. You can proceed by Aadhaar OTP verification, Net Banking Option, or by dispatching the signed copy of the ITR-V to the Income Tax Department.
Once your ITR is filed, you can check its status through the Income Tax Portal:
Login to the portal.
Go to the e-Filing Dashboard.
Under My Account, select View Returns/Forms.
Choose the assessment year and check the status of your ITR.
To check the status of your ITR refund, follow these steps:
Login to the Income Tax Portal.
Navigate to the Refunds section under My Account.
The portal will display the status of any refunds, including whether they are processed or pending.
You can also check your refund status on the NSDL website using the acknowledgment number provided after filing.
There are a few common issues taxpayers may encounter while logging in to the Income Tax Portal:
Incorrect Credentials: Double-check that you’re entering the correct PAN number and password. If you've forgotten your password, use the “Forgot Password” option to reset it.
Session Expiry: The portal has a session timeout for security reasons. If you remain inactive for too long, you will need to log in again.
Captcha Errors: Ensure you are correctly entering the captcha code and not mistyping it.
Form 26AS is a crucial document that contains a taxpayer's tax credit details. It includes:
Details of tax deducted at source (TDS)
Tax collected at source (TCS)
Advance tax payments made
Refunds processed
Taxpayers can view Form 26AS through their Income Tax Portal account, which helps verify that the tax credit has been accurately reported by the authorities.
Due to increasing availability of online services, filing of ITR has become easier. With ITR filing, what used to be a tedious process can now be done from the comfort of your home making the process easier.
Filing ITR online offers several benefits:
Ease of Access: You can file your returns anytime and from anywhere.
Automatic Calculations: The portal auto-calculates your tax payable and refunds.
Save Time and Effort: You don’t need to visit the tax office or deal with paperwork.
Instant E-verification: You can verify your return instantly via OTP, saving time compared to traditional filing.
Always verify your details before filing.
Make sure to e-verify your ITR to complete the filing process.
Keep track of your ITR refund through the login portal.
If you are filing for the first time, ensure that your PAN card is linked with your Aadhaar for seamless processing.
The Indian Income Tax Department has ensured that any person may easily file the ITR through the online mode. It does not only have all the features to enable someone to file returns easily but also all that is required when checking ITR refund status. If you have not registered yourself on the official ITR portal site, then you can do this now and begin filing your ITRs today!
The information provided in this blog is purely for general informational purposes only. While every effort has been made to ensure the accuracy, reliability and completeness of the content presented, we make no representations or warranties of any kind, express or implied, for the same.
We expressly disclaim any and all liability for any loss, damage or injury arising from or in connection with the use of or reliance on this information. This includes, but is not limited to, any direct, indirect, incidental, consequential or punitive damage.
Further, we reserve the right to make changes to the content at any time without prior notice. For specific advice tailored to your situation, we request you to get in touch with us.