Filing of Income Tax returns is a legal obligation of every Individual/HUF whose total income for the previous year has exceeded the maximum amount that is not chargeable for income tax under the provisions of the I.T Act, 1961(Income tax rates charts ,deduction exemption useful charts for Ay 2012-13). Income Tax Department has introduced a convenient way to file these returns online using the Internet.
- A copy of last year’s tax return
- Bank Statement
- TDS certificates Form 16 from employer and Form 16A from Bank or against other deduction of Income Tax
- Savings certificates/Deductions Details to be claimed
- Interest statement showing interest paid to you throughout the year.
- Form 26AS (details of Tax deducted /collected /deposited against your PAN number)
- Balance sheet
- Profit and loss account
- Audit report if applicable.
Check your tax credits in 26AS statement before filing IT return for faster processing and quick refunds.
Taxpayers are advised to verify the tax credits available in 26AS statement before filing the Income Tax Return. It will facilitate faster processing and quick refunds. In order to avoid the TDS mismatch i.e if your claim of TDS is higher than the tax credits available in 26AS statement, please contact the Deductor for filing of the correction TDS statement.
- How to check Form 26AS three different manner read here
- Why there is difference in Form 16/16A and Form 26AS ,what to do Now .How Can I remove these Differences read here
(1) What is E-Filing?
- The process of electronically filing Income tax returns through the internet is known as e-filing.
- It is mandatory for companies and Firms requiring statutory audit u/s 44AB to submit the Income tax returns electronically for AY 2007-08 onwards.
- E-filing is possible with or without digital signature.
(2) Types of E-Filing
There are three ways to file returns electronically.
- Option 1: Use digital signature, in which case no further action is required.
- Option 2: File without digital signature, in which case the duly signed ITR-V form is to be submitted to CPC Bengaluru using Ordinary Post or Speed Post within 120 days of transmitting the data electronically. This completes the Return filing process for non-digitally signed returns.
- Option 3: File through an e-return intermediary who would do eFiling and also assist the Assessee file the ITR -V Form.
STEP BY STEP E FILING OF INCOME TAX RETURN FOR ASSESSMENT YEAR 12-13
6.1 Select digital signature NO
6.2 In next screen Browse and select XML file prepared by you and click on “Upload” button
- A duly signed ITR-V form should be mailed to “Income Tax Department – CPC, Post Bag No – 1, Electronic City Post Office, Bengaluru – 560100, Karnataka, ” BY ORDINARY POST OR SPEED POST ONLY within 120 days of transmitting the data electronically.
- ITR-V sent by Registered Post or Courier will not be accepted.
- No Form ITR-V shall be received in any other office of the Income-tax Department or in any other manner. In case, Form ITR-V, is furnished after the above mentioned period, it will be deemed that the return in respect of which the Form ITR-V has been filed was never furnished and it shall be incumbent on the assessee to electronically re-transmit the data and follow it up by submitting the new Form ITR-V within 120 days. This completes the Return filing process for non-digitally signed Returns.(do and Don’ts for printing of ITR-V)
- Enter your secret question and answer which you entered during registration (OR)
- Enter the assessment-year and acknowledgement number of any of the e-returns filed by you since assessment year 2007-08.
- Then enter the new password twice and then the text from the image below. Click on Reset Password to reset the password of your user.
E – filing process :
This is explained below with the help of a flow chart.
Filing of e-return by Legal Heir (LH) using DSC: Revised Process
This is regarding cases where the assessee has expired but a return has to be filed by LH using his DSC. Following process is suggested in above regard :
- The legal heir (LR) has to get a DSC in his own name.
- LH is required to make a request by sending a mail to firstname.lastname@example.org mentioning the name, PAN,Date-of-Birth of deceased as well as that of the LH along with scanned attachment of the death certificate of the deceased.
On receipt of above, LH would be enabled to file the return of deceased using LH’s DSC.