2020 Income Tax Return: How To E-File ITR In Easy Steps – A Smart Accountant

Since the software allows the comparison, reconciliation and rectification of errors, in addition to pre-filling and validating errors, it saves users later legal problems.

Today, taxpayers can file income tax returns (ITR) through three modes: offline, online, and software. While this simplifies the process, certain modalities must be scrupulously followed when filing TI returns by any of these means. Apart from dos and don’ts, offline mode can be used for all ITR forms. Online is only applicable for ITR-1 and ITR-4. Only people with income from wages or income derived from other sources or property can use this modality.

Finally, there is the software mode. The most efficient means, it is available for all types of IT returns. Since the software allows the comparison, reconciliation and rectification of errors, in addition to pre-filling and validating errors, it saves users later legal problems.

How to submit the ITR electronically?

There are three ways to file an income tax return:

1. No connection – Download the corresponding ITR form in JAVA or Excel format at your convenience, fill it offline, generate the XML and upload it by logging into the electronic archives portal. This mode is applicable to all ITR forms.
2. Online – Login to the electronic filing portal, prepare the return online and submit it. This mode is applicable only for ITR-1 and ITR-4.
3. Through the tax return filing software

Disconnected

User must follow the steps below to file income tax return in offline mode:

Step 1. Go to the electronic income tax filing portal using the link https://www.incometaxindiaefiling.gov.in/

Step 2. Click “IT Returns Preparation Software” in the “Download” menu. Select the relevant “Assessment Year” and download the corresponding ITR form, either in JAVA or Excel format, at your convenience.

Step 3. Fill in the ITR form (to save time, the user can also download the preloaded XML to pre-fill personal and other data. To download, the user must log in to the electronic archives portal and click on ” Download preloaded XML ”in the menu“ My account ”)

Step 4. Validate all the ITR form sheets and calculate taxes

Step 5. Generate and save XML

Step 6. Log into the electronic filing portal and then select the Income Tax Return menu from the Electronic File menu.

Step 7. The PAN will be completed automatically, select the evaluation year, select the ITR form number, select the type of submission as “Original / Revised Declaration” and the shipping mode as “Upload XML”

Step 8. Select any of the following options to verify your income tax return:

(i) Digital Signature Certificate (DSC)
(ii) AADHAAR OTP
(iii) Now generate EVC through the option “Generate EVC” in the menu “My account”
(iv) I would like to do the electronic verification later. Please remind me
(v) I do not wish to electronically verify this income tax return and would like to send the signed ITR-V by regular or express mail to “Centralized Processing Center, Income Tax Department, Bengaluru-560 500” and click in “Continue”. “

Step 9. Attach the ITR XML file and click “Submit”

Step 10:

If the “DSC” option is chosen in “Step 8”, then
Attach the digital signature

If “AADHAAR OTP” is chosen in “Step 8”, then
Enter the AADHAAR OTP received in the mobile number registered with UIDAI

If “EVC” is chosen in “Step 8”, then
Enter the received EVC in the registered mobile number

If the “Electronic Verification Later” option is chosen in “Step 8”,
In that case, the ITR will be submitted only, but the ITR submission process will not be completed until it is verified.

If the option “I do not want to verify electronically” is chosen in “Step 8”, then
You can electronically verify the same by clicking the “electronic verification return” option in the “My Account” menu or send the signed ITR-V to CPC, Bengaluru

Step 11: Submit the ITR

Online

This mode is applicable for both ITR-1 and ITR-4 only. The user is required to follow the steps below to present ITR in online mode. Therefore, people who have income from wages and / or income from other sources or property in the home can only file returns in this mode.

Step 1. Go to the electronic income tax filing portal using the link https://www.incometaxindiaefiling.gov.in/

Step 2. Login to e-Filing and then select the income tax return from the E-file menu

Step 3. The PAN will be completed automatically, select the evaluation year, select the ITR form number, select the filing type as “Original / Revised Declaration” and the filing mode as “Prepare and submit online”

Step 4. Fill in the required and applicable fields of the ITR form (click “Save draft” each time to avoid data loss)

Step 5. Choose the appropriate verification option in the “Tax paid and verification” tab
I would like to do the electronic verification (make sure you have a valid Aadhar certificate / Prevalidated Demat Account / Digital Signature registered in e-Filing against your PAN to use this option)
I would like to do the electronic verification later within 120 days of the filing date
I do not want e-Verify and would like to send the signed ITR-V by regular or express mail to “Central Processing Center, Income Tax Department, Bengaluru-560 500” within 120 days from the filing date.

Step 6. Click the “Preview and Submit” button to verify all the ITR data

Step 7. Submit the ITR

Step 8. Electronic verification of ITR:

If the option “I would like to verify electronically” is chosen in “Step 5”, then
Enter the AADHAAR OTP received in the mobile number registered with UIDAI
Enter the received EVC in the registered mobile number

If the option “Verify electronically later” is chosen in “Step 5”,
In that case, the ITR will be submitted only, but the ITR submission process will not be completed until it is verified.

If the option “I do not want to verify electronically” is chosen in “Step 5”, then
You can electronically verify the same by clicking the “electronic verification return” option in the “My Account” menu or send the signed ITR-V to CPC, Bengaluru

Step 9. EVC / OTP must be entered within 60 seconds; otherwise, ITR will be sent automatically and it must be verified electronically later by clicking on the “e-verify return” option in the “My account” menu.

software

This mode is the most efficient and is available for all modes of income tax returns. Archiving by software simplifies the process as they are designed with user preferences and requirements in mind. It also eliminates data entry repeatedly for most things and draws from masters created or retrieved from online sources. The software offers comparison, reconciliation and error rectification capabilities. Software validations allow the user to pre-fill and validate errors before submitting returns, thus saving users from legal hassles.

For business users these are very useful as they do a lot of work for them in terms of filling in the cumbersome forms and calculations like the 3CB, 3CA ITR forms.

(By Mr. Kapil Rana, Founder and President of HostBooks Limited)