Monday, July 2, 2012

Steps for online filing of IT returns


Before starting to fill in the return preparatory excel sheet keep the following information ready.
a. Date of birth.
b. Full residential address.
c. Landline phone number.
d. Mobile phone number.
e. A working email ID where activation link of the registration in IT website will be send to.
f. Your Saving bank details like Name of the bank, MCIR, Account number.
g. TAN of the employer.
h. Fathers name.
The first preferable step is to register yourself in the incometax website  https://incometaxindiaefiling.gov.in/portal/index.do 
Here you need to enter Your PAN number, then your full name, mobile number, working email, fathers name. The registration needs to be authenticated by the opening the email send to you and by CLICKING the url for activation.
Now login to the website https://incometaxindiaefiling.gov.in and check the amount of tax credited in your name (PAN no). This can be done by going to 'My Account'> View tax credit statement Form 26AS. You will be asked your Date of birth and enter the confirmation CAPCHA. Then you will be redirect to https://onlineservices.tin.nsdl.com website and click on 'View Form 26AS. Check this with your Form 16. If there is any discrepancies make an adjustment in the return preparatory excel sheet.
Then
1. Open the website: https://incometaxindiaefiling.gov.in 
2. Go to https://incometaxindiaefiling.gov.in/portal/selectforms.do and check which one is applicable to you viz ITR1, ITR2 etc.
3. Download the applicable Return Preparatory excel file.
4. Open the excel file and enable the macros.
5. Fill the appropriate columns with respect to your Form 16 issued by your employer.
6. After filing the first sheet (Income details) go to the next sheet. The amount of taxes given in Form 16 and Form 26AS if equal, Good. But if there is any discrepancies found between your Form 16 and form 26AS dont worry. Go on, correction may be made.
7. Fill in the TDS deduction details like TAN of the deductor(your employer), the amount upon which deducted and the amout deducted.
8. Go to the next sheet and fill in your bank account details to which the refund, if any will be credited automatically by the IT authorities.
9. Go to the first sheet and click on CALCULATE on the right upper corner of the sheet. Mind you the sheet will vibrate to calculate automatically the taxable amount. The sheet will show the amount of refund orthe amount you need to still deposit as income tax. If need to deposit the outstanding due, do it and note the deposit challan number. Now feed in the second sheet (TDS) at appropriate places.
10. Validate the sheets and if all the data is OK, go to the first sheet and generate the xml file.
11. A separate sheet (called Pre-XML Check) in the workbook will be generated. Look at the right hand corner of this particular sheet and click to save the xml file. The xml file so generated will be automatically have a file name as ITR1_PANNO. This file will be uploaded in the website, not the excel file.
12. Place the xml file preferably on your desktop screen.
The steps to online filing  
13. After login with your ID ( normally your PAN no) and password look at the left panel "SUBMIT RETURN" and select the correct AY.
14. Now select the correct return form that you are about to upload e.g ITR1, ITR2, ITR3 etc.
15. Don't opt for digital signature. Digital signature is not necessary/mandatory.
16. Browse to your desktop for the xml file and click upload.
17. You need to still submit the acknowledge form ITRV which can be directly download in the submission screen.

3 comments:

peterjamens said...

This is a niec post and the steps provide is helpful. Thanks for posting,
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Anonymous said...

nice

Jenice said...

Great post. Thanks for explaining all the steps that need to be followed for filing IT returns. Since the whole process is digitized everything has been changed and I find it really very easy now.
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