New Delhi: For taxpayers, the time of the year is slowly coming to an end, in which they have to file an annual income tax return (ITR filing). The Central Government has extended the time to file ITR several times in view of the coronavirus. Now the last date is 31st December 2020 i.e. Taxpayers have to file their ITR before this. The government has made the filing process so easy that any taxpayer can file his ITR from home. For this, some documents have to be prepared. Let’s know everything about the Offline & Online Process for filing ITR.
In all these ways taxpayers can file ITR
All taxpayers are required to file ITR. ITR can be filed offline, online, and with the help of software. Of these, all types of ITR forms can be filled in offline mode. Whereas, only IT-1 and Form-4 can be filed online. If taxpayers want, they can file all types of ITRs with the help of software. You can download the applicable ITR form in Java or Excel format and fill it offline. You can generate XML and upload it by logging in to the e-filing portal. All types of ITR forms can be filled through this mode. To file returns online, log in to the e-filing portal, prepare ITR, and submit. However, only Form-1 and Form-4 can be filed in online mode.
Follow this procedure for filing offline returns
Taxpayers If you want to file ITR offline, first go to the Income Tax e-filing portal www.incometaxindiaefiling.gov.in. Then click on Income Tax Return Software and go to the menu and click on Download. Then select your assessment year and download the applicable ITR. Then fill the ITR form. You can also download Texpair Pre-Field XML. It will already contain a lot of information. However, this requires logging in to the e-filing portal and clicking on Pre-Field XML under the My Account menu.
Validate all the information filled in the ITR form
Validate all the information filled in the ITR form and calculate the tax. Then generate and save the XML. Login to the e-filing portal and select Income Tax Return under the e-File menu. The pan will already be full. Select your assessment year, ITR form number, filing type original or revised and upload the XML by submitting mode. To verify the ITR, select one of the EVCs already generated through Digital Signature Certificate, Aadhaar OTP, EVC option generated under My Account. If the taxpayer wants to certify the ITR later, the option of reminder is given. If you do not want to verify ITR online, you can send a signed copy of ITR-5 to the Income Tax Department of Bengaluru.
If you have opted for DSC, then attach digital signature
After selecting the option to verify or not, click Continue. Attach your ITR XML file and click Submit. If you have opted for Digital Signature Certificate (DSC) then attach digital signature. If Aadhaar OTP was selected, fill in the OTP received on the registered mobile number. If EVC was selected then fill EVC on registered mobile number. If e-verify letter is selected then ITR has been submitted, but not verified. If you have chosen the option of not doing e-verification, sign the ITR later and send it to Bengaluru. Before that click submit ITR.
ITR filing can be done online only from Form-1 and 4
If the taxpayer wants to file the return online, he can do so only from Form-1 and Form-4. Explain that only those with income from salary and other sources or income from house property can file ITR. For this visit the e-filing portal of Income Tax www.incometaxindiaefiling.gov.in. Then login to e-filing and click on Income Tax Return under the e-File menu. Your pan will already be full. Choose your assessment year, ITR form number, filing type and submission mode. Fill in the applicable and mandatory fields in the ITR form. It is better to keep clicking on Save Draft again and again.
DSC is required for online ITR filing
When filing an ITR online, then select the verification option in the Tax Pay and Verification tab. The taxpayer must have a valid Aadhaar or Prevalidated Demat Account or Digital Signature Certificate. The digital signature certificate must be registered with your PAN card for e-filing. It also gives the taxpayer 120 days to verify the ITR. The taxpayer can choose this option if he wants. On the other hand, if a person wants, he can verify the ITR and send it to the income tax office in Bengaluru through the post. If one wants to verify immediately, one has to click on Preview and Submit option.
Filing ITR from the software is the easiest
The last option to file ITR is to file through software. With this, all kinds of ITR files can be filed. It is easy to fill ITR through software. It does not require repeated data entry. The software extracts all the necessary data from the master data once created. The software provides users with the facility of comparison, reconciliation, and error rectification. Before filing the return, the user can retrieve the pre-filled form with the help of software and correct the mistake.
