Here are 10 quick steps to guide you in filing your tax return (JPN)
Create e-filing account: To create an e-filing account, an individual is required to visit the Income Tax website -- https://incometaxindiaefiling.gov.in Click on Register Yourself. Fill up your personal details to create your e-filing account. Once, e-filing account is created, login to your account with your user ID (ie PAN) and password.
Download Form 26AS: Click on the ‘View Form 26AS (Tax Credit)’ link to generate Form 26AS. Form 26AS is a Tax Credit statement which shows the Income Tax that has been paid by the Taxpayer. The password to open your Form 26AS is your date of birth in ddmmyyyy format.
Download I-T return form: Click on the Download ITR link which is displayed on the left hand side of the screen. Thereafter download the income tax return form. ITR 1 should be downloaded by individuals earning salary income/pension; or individuals having one house property income; or individuals having income from other sources (excluding lottery income and income from race horses). However, in case of an individual having income from more than one house property, capital gains or is an ordinary resident having assets abroad or claiming tax treaty benefit, then ITR-2 should be downloaded. After downloading the income tax return form, a zip file will be saved on your computer.
Fill up I-T return form: Extract the excel form utility from the downloaded zip file and enable the macros in the Excel form. Carefully follow the instructions and fill the details.
Validate the details: Click on the ‘Validate’ button provided on all the sheets. This ensures that all the details have been captured in the return.
Calculate your tax liability: After filling all the details, click on Calculate Tax link. In case the return form shows any tax payable, then you should deposit the amount and enter the challan details.
Generate XML file: Once all taxes have been paid, click on Generate XML tab and save the xml generated file.
Submit the I-T return: Individual should go to e-filing account on the income tax website and click on Upload Return. Fill the ITR Form, Name, Assessment Year. Now, upload the XML file and click on Submit button. After this an ITR-V will be generated and sent to your e-mail ID. ITR-V is an acknowledgement-cum-verification form.
Send the signed ITR-V to the I-T Department: Individual should take a print of ITR-V and sign it in blue ink. Send it by ordinary post or speed post to the Income Tax Department – CPC, Post Bag No – 1, Electronic City Post Office, Bengaluru – 560100. The signed ITR-V should be sent within 120 days of uploading the return.
Check the ITR-V receipt status: On receipt of the signed ITR-V, the Income Tax Department will send an e-mail acknowledging the receipt of ITR-V to the e-mail ID. You will also receive an SMS on your mobile number acknowledging the receipt of tax return.
Here are 10 quick steps to guide you in filing your tax return