e-Filing Income Tax (ITR) Online for FY 2024-25 (AY 2025-26)

Get expert assistance from IndiaFilings to e-file your ITR before the deadline & avoid penalties!!

[shortcode_37]

What is e-filing Income Tax return?

Benefits of e filing of Income Tax Returns

• Faster Processing and Refunds: Efiling income tax streamlines the processing of your return, resulting in quicker acknowledgement and refunds than the traditional filing method.
• Enhanced Accuracy: Built-in validations and electronic data transfer minimise errors often associated with manual calculations and data entry in paper forms.
• Convenience and Time-Saving: ITR return e filing eliminates the need to visit tax offices or mail paperwork. You can file your return from anywhere, anytime, at your convenience.
• Simplified Tracking: ITR return e filing allows you to easily track the status of your return online, eliminating the wait for mailed updates.
• Secure Storage: ITR return e filing ensures your documents are stored securely online, offering easier access than physical copies.
• Improved Confidentiality: Online Income tax e filing minimises the risk of your tax information being lost or misplaced compared to paper documents.
• Pre-populated Data: Online Income tax e filing systems may pre-populate data from previous filings, simplifying future submissions.
• Proof of Filing: Efiling income tax provides immediate confirmation and email receipts for your records.
• Electronic Payments: Online Income tax e filing facilitates easy tax payments and refund deposits through direct debit and deposit options.

Eligibility Criteria for e filing of income tax returns

• A firm or company must file an ITR regardless of profit and loss.
• An individual who wants to apply for a home loan or visa
• An individual who invests in foreign assets or earns from foreign assets.
• An individual who wants to claim a refund from the Income tax department.
• An individual who earns from house property, etc.

Income Tax Slab Structure for Individuals

How to Register at the Income tax e filing portal?

• Step 1: Access the Income Tax eFiling Portal: Visit the official Income Tax Department e-filing portal. Once on the homepage, locate the "Register" button in the top right corner and click on it.
• Step 2: Select User Type and Enter PAN Details: Choose the appropriate "User Type" on the registration page based on your category (Individual, Company, etc.). Then, enter your Permanent Account Number (PAN) in the designated field and click "Continue." The system will validate your PAN. You'll receive an error message if it's already registered or invalid.
• Step 3: Enter Basic Details: The "Basic Details Page" will appear upon successful PAN validation. Here, carefully enter all the mandatory information, including your name, date of birth (or incorporation for companies), gender (if applicable), and residential status, as it reflects on your PAN card. Once complete, click "Continue."
• Step 4: Provide Contact Details: Once your PAN details are verified, you'll be directed to the "Contact Details" page. This section requires you to enter your primary mobile number, email address, and complete postal address for individual taxpayers. Ensure the information is accurate, and click "Continue" to proceed.
• Step 5: Verify with OTPs: The Income Tax Department will send two separate One-Time Passwords (OTPs) to the mobile number and email address you provided in Step 4. Enter these 6-digit OTPs in the designated fields on the portal and click "Continue."
• Step 6: Review and Confirm Details: The tax efiling portal will summarise your entered details (basic and contact information). Carefully review everything for accuracy. If any corrections are needed, click the edit button and make the necessary changes. Once satisfied, click "Confirm" to proceed.
• Step 7: Set Your Password: Create a strong and secure password on the "Set Password" page that meets the portal's requirements. Enter it in both the "Set Password" and "Confirm Password" fields. Additionally, you can set a personalised message for password recovery purposes. Finally, click "Register" to complete the process.
• Step 8: Registration Successful!: Upon successful registration, the portal will display a confirmation message. You can now click "Proceed to Login" and access the e-filing services using your newly created credentials.

Documents Required for ITR return e filing

Mandatory Documents for e filing of income tax:

• Permanent Account Number (PAN) Card: Your unique tax identification number.
• Aadhaar Card: Your Aadhaar card must be linked to your PAN for e-filing.

For Salaried Individuals:

• Form 16: Your employer provides this form, which summarises your salary income, tax deductions at source (TDS), and other relevant details.
• Rent Receipts (if claiming HRA): If you're claiming House Rent Allowance (HRA) as a deduction, you must submit rent receipts for the tax year.
• Salary Slips (optional): While not mandatory, salary slips can be helpful for cross-referencing income details with Form 16.

For Individuals Claiming Deductions:

• Proof of Income: Documents demonstrating income from capital gains or house property rentals.
• Investment Details: Information on investments eligible for tax deductions (e.g., Public Provident Fund (PPF), Equity Linked Savings Scheme (ELSS) proofs).
• Home Loan and Insurance Details: Documents related to home loan repayments and insurance premiums for potential tax deductions.
• Deposit and Savings Account Interest Certificates: Certificates showing interest earned on deposit and savings accounts, which might be taxable.

How to e-file the Income tax returns at the Income tax portal?

• Step 1: Log in to the Portal: Visit the official e filing income tax website and click "Login" in the top right corner.
• Step 2: Enter Login Credentials: Enter your registered username (PAN) and password in the designated fields of the e filing income tax website. Ensure your password is entered correctly, as case sensitivity applies. Click "Continue" to proceed.
• Step 3: Access E-Filing Services: After successful login, locate the "e-File" tab on the dashboard and click on it. From the dropdown menu, select "File Income Tax Return."
• Step 4: Choose Assessment Year and Filing Mode: On the "File Income Tax Return" page, select the following:
  • Assessment Year (AY): This refers to the financial year you're filing your return (e.g., 2024-25 represents income earned between April 1st, 2023, and March 31st, 2024).
  • Mode of Filing: Choose "Online" for e-filing. For specific scenarios, an offline method using the "Income Tax Utility" is also available.
  • Click "Continue" after making your selections.
• Step 5: Select Taxpayer Category: Indicate your taxpayer category by choosing from options like Individual, Hindu Undivided Family (HUF), or others. Click "Continue" after selecting the appropriate category.
• Step 6: Choose the Right ITR Form: The portal will display a list of valid ITR forms based on your chosen taxpayer category and income details. Here are some common examples:
  • ITR-1 (Sahaj): This form is for salaried individuals who earn income from salary, one house property, and other sources, such as interest.
  • ITR-2: For individuals and HUFs without business/profession income but with capital gains or foreign income.
  • ITR-4 (Sugam): For individuals with business income and presumptive income from professions.
  • Select the ITR form that best aligns with your income sources. Click "Continue" to proceed.
• Step 7: Reason for Filing: Select the reason for filing your return from the available options on the portal. This might include reasons like regular assessment, claiming a refund, or a revised return.
• Step 8: Review and Edit Pre-Filled Information: The Income Tax Department might pre-fill certain sections of your return based on data from employers, banks, etc. Carefully review each pre-filled entry for accuracy. You can edit any incorrect information before proceeding. Click "Proceed" to move forward.
• Step 9: Review and Confirm Return Details: The portal will now display a detailed view of your income tax return. This includes income from various sources, deductions claimed, and tax liability (if any). Check all the information thoroughly. If everything appears correct, proceed to "Pay Now" to settle any tax dues.
• Step 10: Make Tax Payment: If you have a tax liability after considering deductions and exemptions, you'll be redirected to the e-payment gateway. Here, you can choose your preferred bank and payment method (net banking, debit/credit card, etc.) to make the payment. Remember, timely tax payment is crucial to avoid penalties.
• Step 11: Verify Your Return: The final step involves verifying your electronically filed return. This is mandatory for successful submission. There are three verification methods available:
  • Digital Signature Certificate (DSC): Fastest and most secure method (if you possess a DSC).
  • E-Verification using Aadhaar: Verify electronically using a one-time password (OTP) sent to your Aadhaar-linked mobile number.
  • Verification through the Income Tax Department (ITD): Submit the ITR electronically and send a paper acknowledgement form with your signature to the Income Tax Department within a stipulated timeframe.

Online Income tax e filing Due Dates for FY 2023-24 (AY 2024-25)

Penalty for Late Income tax filing

• Under Section 234A, you will be charged interest at 1% per month (or part of a month) on any unpaid tax amount.
• A penalty of ₹5,000 applies for late filing under Section 234F. However, there's a relief for taxpayers with less than ₹5 lakh - they only pay a ₹1,000 penalty.

How to check your ITR e filing status?

1. Visit the Income Tax Department's e-filing portal homepage.
2. Click on "Income Tax Return (ITR) Status."
3. Enter your acknowledgement number and a valid mobile number associated with your PAN.
4. Click "Continue" and enter the 6-digit OTP received on your mobile phone.
5. Click "Submit" to view your ITR status.

1. Log in to the e-filing portal using your user ID and password.
2. Navigate to "e-File > Income Tax Returns > View Filed Returns."
3. This page displays all your filed ITRs. You can download the acknowledgement receipt (ITR-V), uploaded JSON files (if used), complete ITR form in PDF format, and intimation order.

Conclusion