Save time,save money, save paper.File income tax return online.It is to report your income from last financial year and pay tax liability.E-tax filing is a simple and reliable process.The important steps of this process are as follows:
- Collect all your record of different sources of income like salary,fixed deposits,pension for pensioners,house rent and any other source of income.
- Collect all record of tax saving instruments. More common might be life insurance premium,ELSS schemes of mutual fund,Mediclaim and tax saving infrastructure bonds.
- Visit the site: https://incometaxindiaefiling.gov.in and download return preparation software available under the link e-filing A.Y. 2011- 2012.
- Fill the complete details of income and investment made in different tax saving instruments under respective sections of income tax.
- Do not forget to add the details of Tax deducted at source and advanced tax paid.Calculate your total tax liability using calculate tax button.
- Now pay your tax using e-payment facility of NSDL from www.tin-nsdl.com. There is a link for e-tax payment on right hand side.Then Choose appropriate challan to pay for income tax.To avail this facility tax payer should have net banking facility with any of the bank in the list provided.
- After paying tax,add self assessment tax in the software downloaded (as per point 3 above)earlier and export file to xml.Save the file on your computer.
- Now register yourself on the govt website with vaild e-mail address.
- Log in your account and enter ‘submit return ‘ link.and upload the xml file .You will get the receipt at your email.
- If you do not have digital signature,take printout of receipt,sign it with blue ink and send it to Banglore office within 120 days.
Hardly 3 days are availble to file the returns.Taxpayers who do not have enough time can definately think of e-filing the taxes.It will helpful to process refund,if any efficiently as well.
