31st July is advancing fast, and once again it’s time to focus on documents and call your tax consultant. Most of the individuals might take conventional method and have their chartered accountant deal with the procedures. However from this year, individuals with taxable income over INR 10 Lakh have no other option but to file their returns online through e-filing method. Others can also prefer this method. However, one does not need digital signature to manifest the tax return in such a case.
E-filing with digital signatures is mandatory for the business amount of INR 1 crore and above, and INR 25 lakhs and above for professionals. From this year, e-filing is mandatory for the Hindu Undivided Families whose accounts have to be audited under section 44AB of the Income Tax Act.
Here we are up with the simple steps to assure a hassle free return:
1. We need to start by logging on to this website especially developed by the Income Tax department for this purpose. Get the help of your Pancard to register yourself. Your PAN card number will act as User Id in that case.
2. After this we need to download particular ITR from for the individuals. For this go to the ‘Downloads’ tab and select the particular form for the current assessment year is 2012-13.
3. Now open the downloaded Microsoft Excel file and fill up the details. Form no 16 will provide necessary information.
4. Now click on the ‘validate’ button to validate the same and an XML File will be generated and saved on your computer.
5. Now upload the file on I-T portal after clicking AY (2012-2013) and the applicable form. You will be asked your wish to digitally sign the file, if you have obtained DS, select YES or else NO.
6. Now if you get a message regarding successful completion of e-filing, you can consider the process to be complete. Your ITR-Verification form is now sent to your listed e-mail ID.
7. Now, the last thing to do is to get a print-out of the ITR-V in black ink, put your signature there and send it to the Income Tax Department-CPC, Post Bag No-1, Electronic City Post Office, Bangalore – 560100, Karnataka by ordinary post only.
8. Please be ensuring that your tax return reaches to the given address within 120 days, or else the process have to be repeated again.
9. If you do not receive an acknowledgement from the I-T Department in due period, you can send the form again. But make sure to send it through ordinary post only.