Income Tax e-Filing

Income Tax e-Filing

What is efiling?

Efiling or electronic filing is submitting your income tax returns online. There are two ways to file your income tax returns. The traditional way is the offline way where you go the Income Tax Department’s office to physically file your returns. The other way is when you efile through the internet. Over the past few years, efiling has become popular because it is easier, doesn’t require prints of documents and can be done for free.

Am I required to file Income Tax Returns?

It is mandatory to file income tax returns in India, if any of the below conditions are applicable to you, as per the Income Tax Act.

  • Earn gross annual income more than Rs. 2.5 lakhs
  • Earn income other than salary like house property, etc.
  • Want to claim income tax refund from the department
  • Earn from or have invested in foreign assets
  • Wish to apply for visa or loan applications
  • Company or a firm, irrespective of profit or loss

How much tax should I pay?

Want to check how much Income Tax you’ll pay or see how deductions affect the Income Tax you owe?

Check your Payable Income Tax

Has efiling tax returns for 2016 started?

Efiling income tax returns for AY 2016-17, which is FY2015-16 has started. The Income Tax Department released the new ITR forms on 31 March and efiling for them is now allowed on their website. We have incorporated all the changes in the new ITR forms to make it easy for you to efile your returns.

Should I efile returns if I earned less than taxable income?

Yes, it is advisable to efile your income tax returns even if you don’t pay taxes. A zero-return filing will be helpful when you need to get your tax refund or apply for a loan or visa.

What is the deadline for efiling tax returns?

The last date for efiling income tax returns for FY2015-16 is 31st July 2016. You can efile your tax returns any time before then, but it is always better to efile early to avoid the rush and heavy website traffic in the last month.

How can I go about efiling multiple tax returns?

You don’t need to open different accounts efile multiple tax returns. You can efile for returns for the current as well as the previous year from the same account. What’s more, you can even efile tax returns for your friends and family.

I have a Form 16, how do I e-File my Income Tax Return?

  1. Upload your Form 16
  2. We verify your tax summary
  3. e-File your tax return to receive acknowledgement number
  4. e-verify your tax return through net-banking

I don’t have a Form 16

  1. Enter your income details
  2. Declare investments made under Section 80C
  3. We verify your tax summary
  4. E-file your tax return to receive acknowledgement number
  5. E-Verify your tax return through net-banking

I want to check the status of my ITR-V

After successfully submitting your income tax return, you get an acknowledgement from the IT department called the ITR-V or Income Tax Return-Verification. You need to submit it back to complete your e-filing.