Earlier used to submit my Income Tax Returns (ITR-1) through an agent whoever comes to the office at the time of returns. I received the refund amount for one financial year, and for another two years didn't receive the refund amount. I called the agent, but most of the times the agent's number might be changed or the agent will say please call me after two days or the agent won't picks the call.
After that tried e-Filing (Of course with the help of the Government site i.e., incometaxindiaefiling and other available info in online). I got the refund amount within three months of filing for a year. Thanks to the Government's initiative. No need to depend on other person or agency to know the status. In this blog I'm writing the steps for e-Filing.
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Note:
1) I've written this blog by considering a person works in one company during the financial year.
2) I've little or no idea on below points, please check by yourself (when necessary).
a) How to fill the form if a person has home loan.
b) How to fill the form if a person works in more than one company during the financial year. One idea on this is to consolidate all the relevant Form-16s and submit.
c) Rules/conditions for other values for the field 'Return filed under section' ['Income Details' sheet --> 'Filing Status' section]. The default value is '11-BeforeDueDt'.
d) Rules/conditions for other values for the field 'Residential Status' [NRI - Non Resident Indian, NOR - Not Ordinarily Resident]. The default value is 'RES-Resident'.
e) How to fill other forms of returns such as ITR-2, ITR-3, ITR-4, ITR-4S, ITR-5, ITR-6.
3) Also note that the words/naming conventions might change from time to time, please check the latest info on the Government site.
4) There are several sites from which we can upload Form-16 and get ITR-V form directly, one of such sites is https://myitreturn.com/. Anyway please cross check from your end.
5) Don't forget to check latest changes, updates, etc. about tax returns / filing in relevant sites.
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Steps:
1) Create the user or login id (for the first time) in the site incometaxindiaefiling and download the latest 'ITR1' from.
2) Unzip the file and open the corresponding excel file.
3) Please read the 'Instructions' sheet in the excel file to understand more details. Also, read the info in the site incometaxindiaefiling
4) Fill the relevant sheets (Income Details, TDS, Taxes paid and Verification, 80G).
a) There are some buttons on the top-right corner every sheet. The main ones are:
'Calculate Tax' -> On the sheet 'Income Details'
'Validate' -> On every sheet
'Generate XML' -> On the sheet 'Income Details'
There are other buttons such as 'Print', 'Next', 'Prev', 'Help', 'Import previous version', etc.
a) Fields are in different colors.
Red -> Mandatory fields such as Name, PAN details, etc.
Black -> Fields to be filled based on Form - 16 such as 'Income from Salary / Pension (Ensure to fill Sch TDS1)', etc
Blue -> No need to fill by the user, will populate automatically based on the other entries.
b) The fields (in blue) such as 'Gross Total Income', '80G', 'Total Income', 'Total Tax', 'Surcharge and Education Cess', 'Balance Tax Payable' will be populated based on other entries or on the click of 'Calculate Tax' button.
c) Click on 'Validate' button after filling the details on every sheet thereby it'll be give alert messages about the mandatory fields, errors (if any).
5) After filling all the relevant sheets, click on the button 'Calculate Tax' on the first sheet i.e., on the sheet 'Income Details'.
6) Click on the button 'Generate XML' and save the file. If there are any errors, it won't allow to generate XML.
7) Upload the xml file in the site incometaxindiaefiling
8) Download the ITR1-V form, sign it and send to the address as mentioned on the final page.
At present the address is “Income Tax Department – CPC, Post Bag No - 1, Electronic City Post Office, Bengaluru - 560100, Karnataka”
BY ORDINARY POST OR SPEED POST ONLY within 120 days of transmitting the data electronically.
*********************************************************************************
A few points on the sheets 'Income Details', 'TDS', 'Taxes Paid and Verification', '80G'.
Income Details: On the first column of the sheet we can see different sections like Personal Info, Filing Status, Income & Deductions, Tax Computation.
In the section 'Personal Info', all the mandatory fields to be entered.
In the section 'Filing Status', enter 'Income Tax Ward / Circle' and keep the default values for rest of the fields.
In the section 'Income & Deductions',
The amount for the row 'Income from Salary / Pension (Ensure to fill Sch TDS1)' to be same as the value of 'INCOME CHARGEABLE UNDER THE HEAD 'SALARIES' ( 3-5 )'.
Remaining entries in this section can be directly checked in the Form-16.
In the section 'Tax Computation', enter the relevant fields based on Form-16.
TDS: To fill this we've to check the last page of the Form-16 i.e., Form No.12BA.
Enter Tax Deduction Account Number (TAN) of the employer, employer name which we can find either on Form-16 or on Form No.12BA.
The other fields 'Income Chargeable Under head salaries', 'total tax deducted' can be entered based on the first sheet which we already entered.
Taxes paid and Verification: Bank Details, Declaration Section, etc.
80G: Details of Donations, if any
*********************************************************************************
Error Scenarios:
Mentioning the sheets where we can get frequent errors.
1) While filling the details on 'Income Details' sheet (especially in the sections 'Income & Deductions', 'Tax Computation').
After click of the button 'Calculate Tax' on the first sheet, some amount might be populated either for 'Tax Payable' or 'Refund' on the third sheet i.e., on the sheet 'Taxes paid and Verification'.
For example, If the 'Refund' amount is greater than zero (after doing all the above process). Then the field 'Tax Status' in the section 'Filing Status' on the first sheet 'Income Details' should be changed from 'Nil Tax Balance' to 'Tax Refundable'. Otherwise it won't allow to generate XML. Similarly be cautious in case of 'Tax Payable' scenario also.
2) While entering the details on 'TDS' sheet.
Make sure we are entering the 'Income Chargeable Under head salaries' (check Form-16 or the value which we entered for the field 'Income from Salary / Pension (Ensure to fill Sch TDS1)' ), sometimes we may enter the 'gross salary'.
*********************************************************************************
Note:
Return to the main list, listOfBlogs
After that tried e-Filing (Of course with the help of the Government site i.e., incometaxindiaefiling and other available info in online). I got the refund amount within three months of filing for a year. Thanks to the Government's initiative. No need to depend on other person or agency to know the status. In this blog I'm writing the steps for e-Filing.
*********************************************************************************
Note:
1) I've written this blog by considering a person works in one company during the financial year.
2) I've little or no idea on below points, please check by yourself (when necessary).
a) How to fill the form if a person has home loan.
b) How to fill the form if a person works in more than one company during the financial year. One idea on this is to consolidate all the relevant Form-16s and submit.
c) Rules/conditions for other values for the field 'Return filed under section' ['Income Details' sheet --> 'Filing Status' section]. The default value is '11-BeforeDueDt'.
d) Rules/conditions for other values for the field 'Residential Status' [NRI - Non Resident Indian, NOR - Not Ordinarily Resident]. The default value is 'RES-Resident'.
e) How to fill other forms of returns such as ITR-2, ITR-3, ITR-4, ITR-4S, ITR-5, ITR-6.
3) Also note that the words/naming conventions might change from time to time, please check the latest info on the Government site.
4) There are several sites from which we can upload Form-16 and get ITR-V form directly, one of such sites is https://myitreturn.com/. Anyway please cross check from your end.
5) Don't forget to check latest changes, updates, etc. about tax returns / filing in relevant sites.
*********************************************************************************
Steps:
1) Create the user or login id (for the first time) in the site incometaxindiaefiling and download the latest 'ITR1' from.
2) Unzip the file and open the corresponding excel file.
3) Please read the 'Instructions' sheet in the excel file to understand more details. Also, read the info in the site incometaxindiaefiling
4) Fill the relevant sheets (Income Details, TDS, Taxes paid and Verification, 80G).
a) There are some buttons on the top-right corner every sheet. The main ones are:
'Calculate Tax' -> On the sheet 'Income Details'
'Validate' -> On every sheet
'Generate XML' -> On the sheet 'Income Details'
There are other buttons such as 'Print', 'Next', 'Prev', 'Help', 'Import previous version', etc.
a) Fields are in different colors.
Red -> Mandatory fields such as Name, PAN details, etc.
Black -> Fields to be filled based on Form - 16 such as 'Income from Salary / Pension (Ensure to fill Sch TDS1)', etc
Blue -> No need to fill by the user, will populate automatically based on the other entries.
b) The fields (in blue) such as 'Gross Total Income', '80G', 'Total Income', 'Total Tax', 'Surcharge and Education Cess', 'Balance Tax Payable' will be populated based on other entries or on the click of 'Calculate Tax' button.
c) Click on 'Validate' button after filling the details on every sheet thereby it'll be give alert messages about the mandatory fields, errors (if any).
5) After filling all the relevant sheets, click on the button 'Calculate Tax' on the first sheet i.e., on the sheet 'Income Details'.
6) Click on the button 'Generate XML' and save the file. If there are any errors, it won't allow to generate XML.
7) Upload the xml file in the site incometaxindiaefiling
8) Download the ITR1-V form, sign it and send to the address as mentioned on the final page.
At present the address is “Income Tax Department – CPC, Post Bag No - 1, Electronic City Post Office, Bengaluru - 560100, Karnataka”
BY ORDINARY POST OR SPEED POST ONLY within 120 days of transmitting the data electronically.
*********************************************************************************
A few points on the sheets 'Income Details', 'TDS', 'Taxes Paid and Verification', '80G'.
Income Details: On the first column of the sheet we can see different sections like Personal Info, Filing Status, Income & Deductions, Tax Computation.
In the section 'Personal Info', all the mandatory fields to be entered.
In the section 'Filing Status', enter 'Income Tax Ward / Circle' and keep the default values for rest of the fields.
In the section 'Income & Deductions',
The amount for the row 'Income from Salary / Pension (Ensure to fill Sch TDS1)' to be same as the value of 'INCOME CHARGEABLE UNDER THE HEAD 'SALARIES' ( 3-5 )'.
Remaining entries in this section can be directly checked in the Form-16.
In the section 'Tax Computation', enter the relevant fields based on Form-16.
TDS: To fill this we've to check the last page of the Form-16 i.e., Form No.12BA.
Enter Tax Deduction Account Number (TAN) of the employer, employer name which we can find either on Form-16 or on Form No.12BA.
The other fields 'Income Chargeable Under head salaries', 'total tax deducted' can be entered based on the first sheet which we already entered.
Taxes paid and Verification: Bank Details, Declaration Section, etc.
80G: Details of Donations, if any
*********************************************************************************
Error Scenarios:
Mentioning the sheets where we can get frequent errors.
1) While filling the details on 'Income Details' sheet (especially in the sections 'Income & Deductions', 'Tax Computation').
After click of the button 'Calculate Tax' on the first sheet, some amount might be populated either for 'Tax Payable' or 'Refund' on the third sheet i.e., on the sheet 'Taxes paid and Verification'.
For example, If the 'Refund' amount is greater than zero (after doing all the above process). Then the field 'Tax Status' in the section 'Filing Status' on the first sheet 'Income Details' should be changed from 'Nil Tax Balance' to 'Tax Refundable'. Otherwise it won't allow to generate XML. Similarly be cautious in case of 'Tax Payable' scenario also.
2) While entering the details on 'TDS' sheet.
Make sure we are entering the 'Income Chargeable Under head salaries' (check Form-16 or the value which we entered for the field 'Income from Salary / Pension (Ensure to fill Sch TDS1)' ), sometimes we may enter the 'gross salary'.
*********************************************************************************
Note:
Return to the main list, listOfBlogs
