ITR Efiling – Income Tax Efiling

Income Tax Return Efiling or ITR Efiling is the process of filing income tax return online to the Income Tax Department. Efiling ITR is mandatory in India (except individuals earning up to Rs.5 lakh and super senior citizens). ITR Efiling last date for FY 2019-20 (AY 2020-21) is 30th November, 2020, which is extended from the previous deadline of 31st July 2020.

For Income Tax Return Efiling, you will be required to visit the Income Tax Department official website and register for the same. If already registered, you can follow the steps mentioned below:

Step 1: Visit the Income Tax Efiling portal and do Income Tax Efiling Login.

Step 2: Post successful Income Tax Efiling login online, click on “Income Tax Return” option under the head “e-file”.

You are required to file income tax return before the due date declared by the Income Tax Department to avoid income tax penalty. Following are the ITR efiling due dates for the income earned in FY 2019-20.

According to the Indian Tax System, if you fall under the bracket of FY 2019-20 or AY 2020-21 then you should keep in mind the below-mentioned dates when E-filing the income tax:

Besides being convenient and easy, there are several reasons why you should consider Efiling ITR on time. By Efiling ITR, you can claim income tax refund for any excess tax already deducted or paid. You can easily file your ITR and claim refund of excess tax already paid.

Also Read: What is TDS?

Not only this, if you do ITR efiling on time you can easily avoid the penalties which are imposed under Section 234F on a person who is required to furnish income tax return under Section 139 and didn’t furnish ITR or filed after the due date.

If any individual who is required to file ITR under Section 139 fails to furnish the same in the prescribed time, he/she will be liable to pay income tax penalty under Section 234F of the Income Tax Act, 1961. Income Tax Penalty under Section 234F is: [2]

• Rs. 5,000, if the income tax return is filed on or before 31st December of the Assessment Year
• Rs. 10,000 in any other case (No filing of Income Tax Return)

You will be required to follow the steps mentioned below for ITR e-filling registration:

Step 1: Visit the Income Tax Efiling portal (https://www.incometaxindiaefiling.gov.in/home).

Step 2: On the right side of the screen, click on “Register Yourself” button to start ITR efiling registration process.

Once you have successfully registered for ITR Efiling, you can easily do Income Tax Efiling Login online. For Income Tax Efiling Login, follow the steps mentioned below:

Step 1: Visit the Income Tax Efiling portal (https://www.incometaxindiaefiling.gov.in/home).

Step 2: Click on “Login Here” button on the right side of the home page.

The amount of tax payable according to the Indian Tax System differs in context to the age of the person and the income that they earn. The organizations listed underneath are required to pay tax and do income tax efiling online:

• Artificial Judicial Persons
• Hindu Undivided Families (HUFs)
• Corporate firms
• Association of Persons (AOPs)
• Local Authorities
• Companies
• Body of Individuals (Bois)

As per the Income Tax Rules, it is now mandatory for all the taxpayers to file their ITR online. However, following are 2 exceptions in which an individual can file his/her ITR online or offline:

• Taxpayer/assessee with net taxable income up to Rs.5 lakh per annum
• Super Senior Citizen or taxpayer/assessee above 80 years of age in the FY

You are not required to furnish any document to register or do income tax efiling login online. However, it is advisable to keep the following documents handy before efiling ITR online:

• TForm 16
• Form 26AS
• Investment Proofs for Deduction under Chapter VI-A (like Section 80C, Section 80D & others)
• Home Loan Interest Certificate (For Deductions under Section 24)
• Rent Receipts for HRA
• Salary Slips
• Profit and Loss Account (in case of Self Employed)

The benefits of Efiling income tax online are:

• Simple & Hassle Free Process – The process of ITR Efiling is simple, convenient, quick and hassle free. You can file your ITR at any time during the day from the convenience of your home/office
• Process Refund – If excess tax was deducted or advance tax was paid, you can easily file your ITR on time to process your refund of the excess tax paid
• Check ITR Refund Status – Once you file your ITR, you can check the TDS refund status by logging in to your Efiling ITR account. You can check the refund status of all the assessment years in which you have filed your ITR
• E-verification – You can do your e-verification of income tax return by Efiling ITR online

According to the Indian Tax System, if an individual need to demand a revenue tax refund, he/she will have to file his / her income tax return first. The person will have to apply one of the Income Tax Return filing forms listed below according to the income assessment group: