Income tax return
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The document discusses filing an income tax return for salaried individuals in India using form ITR-1. It provides instructions on e-filing taxes online, including eligibility for ITR-1, the required documents, and the three step process of profile registration, filling out the online form, and downloading the acknowledgment receipt. Key details needed are PAN number, salary and other income sources, bank account details, and form 16 from employer. Electronic filing allows individuals to submit tax documents electronically without submitting paper forms.
Income tax return
- 1. INCOME TAX RETURN - 1 SALARIED INDIVIDUALS SALARY/PENSION/FAMILY PENSION/INTEREST INCOME
- 2. INCOME TAX RETURN - 1 Income tax return is a document you file with the Internal Revenue Service or the state tax board reporting your income, profits and losses of your business and other deductions as well as details about your tax refund or tax liability.
- 3. E - FILING Electronic tax filing, or e-filing, is a system for submitting tax documents to a revenue service electronically, often without the need to submit any paper documents.
- 4. ELIGIBILE INDIVIDUALS FOR ITR -1 Income from Salary/ Pension; or Income from One House Property (excluding cases where loss is brought forward from previous years); or Income from Other Sources (excluding winning from lottery and income from Race Horses)
- 5. CHECKLIST FOR E - FILING Check your tax credit - Form 26AS vs. Form 16 Claim 80G, savings certificates and other deductions In addition to the above, have the following at hand. Last year's tax returns Bank statements TDS (Tax Deducted at Source) certificates Ensure your system is equipped with the below. Java Runtime Environment Version 7 Update 6 or above
- 6. DOCUMENTS REQUIRED General details: Bank account details PAN Number Reporting salary income: Rent receipts for claiming HRA Form 16 Pay slips
- 7. PROCEDURE FOR FILING ITR - 1 ONLINE MODE Step 1 PROFILE REGISTRATION Step 2 - FILL & SUBMIT ITR-1 FORM ONLINE STEP 3 DOWNLOAD THE ACKNOWLEDGEMENT RECIEPT
- 8. PROCEDURE FOR FILING ITR - 1 STEP 1 PROFILE REGISTRATION Type in the URL of e filing application - https://incometaxindiaefiling.gov.in/
- 10. Click on the 'Register Yourself' tab and select 'Individual' against the radio button found under Individual/HUF
- 12. Click on the Continue button. The registration details page should be displayed
- 13. The user will be directed to the registration page and the user will fill the following fields for further validation. PAN Mandatory, should be valid PAN. Surname Mandatory, should be as per the PAN details. First Name Not mandatory, should be as per the PAN details. Middle Name - Not mandatory, should be as per the PAN details. Date of Birth Mandatory, should be as per the PAN details.
- 15. B. Personal Details These details could be automatically populated by previously entered basic details
- 17. Current Address Flat/Door/Building Mandatory. Road/Street Non-mandatory. Area/Locality Mandatory. Town/City/District Mandatory. State Mandatory, user selects from the drop down provided. Pin code Mandatory. Country- Mandatory, user selects from the drop down provided
- 19. Click on SUBMIT. If it is success, user will be navigated to the Registration Successful screen
- 20. The user receives a confirmation e-mail with an activation link to the registered Email ID. An SMS along with OTP (One time Password) is also sent to the registered mobile number. In order to activate the account, the user should click on the Activation link and enter the Mobile PIN. On success, the user account is activated and the database is updated.
- 21. In e-Filing application home page, click Login Here button.
- 22. STEP - 2 CLICK ON E FILE AND THEN CLICK ON PREPARE AND SUBMIT ONLINE
- 39. STEP 3 - SUBMIT SUBMIT THE FORM AN ACKNOWLEDGEMENT RECIEPT IS DISPLAYED
Editor's Notes
- #29: BHARGAVA