Individual Income Tax Returns
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Individual Income Tax Returns
What is Individual Income Tax Returns?
The deadline to file income tax returns for 2018-19 is March 31, 2020. After March 31, 2020, filing for a particular, fiscal year is not feasible. Individuals must file income tax returns for the Fiscal Year 2019-20 by July 31 2020 (non-audited) or September 30 2020 (audited).
How to File an Income Tax Return (ITR) Online in 9 Easy Steps
Step 1: Create A Log-In ID On the Income Tax Website
Register on the income tax website https://incometaxindiaefiling.gov.in/home.
Step 2: Log in to The Electronic Filing Website
Log in using your User ID, Password, and Date of Birth to the e-Filing website and enter the Captcha code.
Step 3: Verify Form 26AS.
The 26As can be accessed by clicking on the 'View Form 26AS (Tax Credit)' link located beneath my account tab.
Step 4: Online ITR Preparation
Navigate to e-File and click on File Income Tax Return, or from the Income Tax Portal dashboard, click on Filling Income Tax Return.
Step-5: Assignment Year and ITR Form Selection
The applicant must select the assignment year, the ITR form number, and the mode of ITR filing. (The applicant may e-verify the ITR using Aadhar OTP, a bank account, internet banking, or a Demat account.)
Step 6: Complete the Tax Return Form with The Required Information
After selecting the online Form, the applicant must provide the following information:
1. Include essential information such as your name, PAN, complete address, date of birth, email ID, and mobile number, as well as whether the Return is original or updated.
2. Include information about your earnings (depends upon the ITR form Selection)
3. Enter the amount of tax withheld by the employer and other detectors, as well as any self-assessment/advance tax paid.
4. Taxes will be automatically calculated.
5. Taxed income, if it is taxable.
6. Enter your bank accounts information, such as the account number, the type of account, and the IFSC code.
Step 7: Evaluate And Submit Your Return
Now, the applicant must preview the information. If the applicant's details are correct, they may file the Return. Alternatively, the applicant may update the Return and resubmit it after editing the Return's details.
Step 8: E-Verify Your Return or Send a Signed ITR-V to the Internal Revenue Service
ITR-V would be displayed upon successful submission. To download the ITR-V, click on the link. Additionally, an ITR-V will be sent to the registered email address. If the ITR is e-verified, the procedure of filing the Return is complete. OR
If the Return is not e-verified, the ITR-V Form must be printed, signed in blue ink, and sent to the CPC within 120 days of the e-filing date. The Return will be processed only upon receipt of an ITR-V that has been signed. Please check your emails/SMS for notifications regarding ITR-V non-receipt.
Step 9: ITR Processing
Once the applicant's ITR is verified, the department will process it. After the ITR is processed, the applicant will be notified through mail and SMS on the registered mobile number via Intimation under section 143.
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Requirements
Documents Required
PAN CARD
Need Pan Card of all Shareholders and Directors, Foreign Directors must be required a valid Passport with validated or apostilled
PHOTOGRAPH
Updated Passport size photos of all Participators / Shareholders and Directors.
IDENTITY PROOF
Need identity proof: - Aadhar Card/ Voter ID/Passport/ Driving License of all Shareholders and Directors.
ADDRESS PROOF
Updated Electricity Bill/ Telephone Bill / Bank Account Statement of all Shareholders & Directors.
FOR REGISTERED OFFICE
Rent agreement
Valid Rent agreement, Utility bills:- telephone bill, electricity bill, and municipal (It should be last 2 Months) NOC From Owner.
NOC From Owner.
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