A QUICK GUIDE TO e-Filing of INCOME TAX RETURN

A quick guide that will help you e-file your tax returns. Do keep in mind that the last date for filing your returns is July 31, 2014.

LIST OF THINGS YOU NEED WHILE e-filing your tax

A PC or a Laptop

Internet connection

PAN Card

Bank Statement

Copy of last years income tax return

Form 16 issued by your employer

e-File YOUR INCOME TAX RETURN:-

·          Log on to the Income tax website-www.incometaxindiaefiling.gov.in. Register yourself by clicking the icon on the right side of the page. If you need assistance call 1800-425-000-25.One must have a PAN CARD, email address and a Mobile Number to register with the Income tax site.

·         Download the Income Tax Return (ITR) form applicable to you. Enter your details by referring your documents. Once you have filled in the details, you need to validate the data, without which you will not be able to move ahead.

·         After validation of the information in the Excel sheet save the file in XML format. Please ensure you save the file in the correct format. Upload the XML file on the website. Do remember to select the appropriate assessment year (2014-2015) and the applicable form.

Download your TDS i.e form 26AS from Income tax site against your PAN NO.All the interest earned during the financial year 2013-14 against your bank account is available here, and/or

Add up your interest earned from Bank’s saving account wef April 2013 to March 31,2014in the column as “Other Interest”.This can be got it from Banks Interest certificate.

For Self assessment tax which was not deducted before 31^st March 2014,an excess tax as calculated by the site on XML sheet is to be filed through e-pay Tax and will be automatically directed through the form itself.This will be only paid by card Debit card.

·         Next you will be directed the digital signature option. If you have a digital signature,you can add it here. Otherwise, you can proceed further where you will get an alert that the process is complete. You will receive the ITR verification form(ITR-V) in your mailbox.

·         Take a print out of your ITR-V. If you don't have a digital signature sign the ITR-V with a blue ink pen and send it by post to the Income-Tax Department-CPC, Post Bag No-1, Electronic City Post Office, Bangalore - 560 100, Karnataka.

·         This has to be done within 120 days of filing your e-return.