Overview the online Filing of Income Tax Returns portal

Overview the online Filing of Income Tax Returns Portal

Income tax e-filing refers to the process of submitting ITR online to Govt tax dept in the specified format. Online tax filling simpler, safer and easy than visiting the ITO to submit your Income tax returns. Under Presently income tax rules & regulations in India, Online e-filing is Compulsory for taxpayer & replaces the previously manual paper-based mechanism of Submitting Income tax return. Deadline for Online filing Tax Return for Assessment Year 2023-24 is 31st July 2023.

Main Tax e-Filing Options in India

Presently, there are three options to file ITR filing system in India:

• Through Income tax lawyer or Tax Return Preparer or Chartered Accountant,
• Via intermediary who is a registered online income tax filing portal,
• On the official income tax filing portal/Website

What are the Eligibility Conditions for Tax E-Filing

The submission of income tax e-filing is now mandatory by Income Tax rules. The below are the instances where e-filing by tax assessees is not required:

• The income tax Taxpayer is a individual/ HUF having annual income of up to Rs. 5 lakh from all sources (exempt and non exempt).
• the income tax Taxpayer must be 80 years of age or older for the Financial Years

Under the above two situations described above, ITR’s may be filed online or on paper using the relevant income tax returns form.

What are basic documents needed for online filing of ITR

Unless the Income Tax Department required to do so by order, you are not obligated to attach any documents along with ITR Form. But, for a smooth e-filing experience, the taxpayer needs have a few key documents on available. The following are some necessary tax documents for speedy income tax e-filing:

• Form 26AS
• Assets and liability Details
• Bank Statement for FY
• P& L A/s (for self-employed or businesses)
• for salaried/pensioners- Form 16
• Bank loan (Home Loan) interest certificate, etc.
• Supporting Document related to investment made Under section 80D, 80E, 80C, 80G, etc.

Process of Access Income Tax account for Online Tax E-filing Login Portal

You can use your account after registering on the Income Tax E-filing Portal. Follow the following steps to login for income tax e – filing:

Steps:

1. We needed to Visit our Income Tax E-filing Login Webpage

2. Then we must Click on ‘Login’ options located on very right side at Income tax home page

3. Enter Our Income tax User Id & password to login to our income tax login/account.

What is Last Due Date to Online Filing your ITR

For the AY 2023-24 i.e. FY 2022-23, the last due date to file your ITR is 31st July, 2023. But, the online e-filing deadline is subject to extensions by order of the Govt.