The last date for filing income tax return (ITR) has been extended from 31st July 2015 to 31st August 2015. If your annual income is more than Rs 5 lakh, you have to file the return electronically. Follow these simple steps to file your return online before the last date. Note:- Keep your bank statements, Form 16 issued by your employer, and a copy of last year’s return handy while filing the return.
Step 1:- Log on to www.incometaxindiaefiling.gov.in. Register using your Permanent Account Number (PAN), which will also be your user ID in case you are already registered.
Step 2:- Check your Form 26AS (Tax Credit) for the financial year 2014-15. This statement reflects the total taxes deducted by your employer. The TDS as mentioned in your Form 16 must tally with the figures in Form 26AS. Any discrepancy could land you in a legal trouble.
Step 3:- Under the 'Download' menu, click on Income Tax Return Forms and choose AY 2015-16 (for the financial year 2014-15 ). Download the Income Tax Return (ITR) form applicable to you.
Step 4:- Open the downloaded Return form (excel utility or java utility) and enter the details by using your Form 16. Click on the ‘Calculate Tax’ tab to compute tax payable. Confirm the details filled in the worksheet by clicking the ‘Validate’ tab. Proceed to generate an XML file which will be automatically saved on your computer.
Step 5:- Go to ‘Upload Return’ on the portal’s left panel and upload the saved XML file after selecting the relevant ITR form name and Assessment Year. If you want to digitally sign the form, click on ‘Yes’ else choose ‘No’.
Step 6:- Once the process is complete, message of successful submission will be flashed on your screen. If the return is not uploaded with Digital Signature Certificate (DSC), the acknowledgement form ITR-Verification (ITR-V) will be generated and sent to your registered email-id.
Step 7:- A duly verified ITR-V should be signed and send to CPC, Post Bag No. 1, Electronic City Post Office, Bangalore - 560100 by ordinary or speed post only within 120 days of filing the return online.
*All savings are provided by the insurer as per the IRDAI approved insurance plan.
*Tax benefit is subject to changes in tax laws. Standard T&C Apply
^The tax benefits under Section 80C allow a deduction of up to ₹1.5 lakhs from the taxable income per year and 10(10D) tax benefits are for investments made up to ₹2.5 Lakhs/ year for policies bought after 1 Feb 2021. Tax benefits and savings are subject to changes in tax laws.
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