Easy IT Filing
Do you wish to file your income tax return online? Our website offers a complete guide to the process of ITR filing online. From registration to submission, we've got you covered. Trust us to make your tax filing experience hassle-free and accurate. We will also help you with services related to transfer pricing.
Introduction:
Income tax e-filing is the electronic filing of income tax returns using the Internet. ITR return filing is a convenient way to file your tax return as it can be done anywhere with an internet connection. You don't have to visit the Income Tax Department or wait in long queues to submit your return by opting for income tax e-filing.
Documents Required for E-Filing
- PAN Card
- Aadhaar Card
- Bank Account Details
- Form 16/16A
- Investment Details
Steps for E-Filing ITR Online
There are seven types of ITR forms in India: ITR-1, ITR-2, ITR-3, ITR-4, ITR-5, ITR-6, and ITR-712345. The applicability of these forms will completely depend on the nature and income of the taxpayer. Only ITR-1, ITR-2, ITR-3, and ITR-4 are applicable for individuals. ITR-5 and ITR-6 are applicable only for companies and firms. Here is what you need to do for E-Filing ITR online:
- Register yourself on the Income Tax E-Filing Portal
- Login to the Income Tax E-Filing Portal for income tax e-filing.
- Select the Appropriate ITR Form
- Fill in the Required Details
- Validate and Submit the Form
- E-Verify the ITR
Tips for Smooth ITR E-Filing
There are a lot of tips and tricks that you can follow in order to ensure that your entire ITR E-Filing process becomes a streamlined one:
- Keep all the documents handy.
- Double-check the details before going for ITR filing online.
- Use the latest version of the browser for better performance
- Verify the ITR using Aadhaar OTP or Net Banking
- Remain aware of the steps to follow in case you miss to file the returns.
- Get to know the different ways in which you can pay less taxes like house loans, education loans, pension plans, medical insurance, etc.
By keeping all these tips and tricks in mind, you will be able to ensure that your ITR E-Filing process becomes a smooth one. You will also be able to avoid getting a notice from the Income Tax Department.
How BC Shetty & Co Can Assist You In the Income Tax Return Filing Process?
With over 37 years of experience serving clients, our team has the expertise and credibility to assist you with filing income tax returns.
We have a clear and well-established process for tax filing. Our tax filing process has been defined keeping in mind the unique requirements of all categories of taxpayers. Our team is also quite tech-savvy and will make use of Information Technology to offer you the services in a highly streamlined manner.
From tax advisory, tax computation and tax filing services to asset and liability tax computation services, we have got it all covered for you. We will also provide you with tax-saving tips and tax litigation support so that you can end up saving yourself quite a lot of money.
The data collection process is done safely and securely through WhatsApp. We will send you personalised emails so that the entire tax filing process can be carried out in a smooth and hassle-free manner.
Current Income Tax Slabs in India
The current income tax slabs in India for individuals (resident and non-resident) below 60 years of age are as follows:
- For taxable income up to Rs. 3 lakhs: No tax is applicable.
- For taxable income between Rs. 3 lakhs to Rs. 6 lakhs: The tax rate is 5%.
- For taxable income between Rs. 6 lakhs to Rs. 9 lakhs: The tax rate is 10%.
- For taxable income between Rs. 9 lakhs to Rs. 12 lakhs: The tax rate is 15%.
- For taxable income between Rs. 12 lakhs to Rs. 15 lakhs: The tax rate is 20%.
- For taxable income above Rs. 15 lakhs: The tax rate is 30%.
The above income tax slabs are applicable for every individual irrespective of their age. Unlike the old tax regime, the new income tax regime does not differentiate individuals on the basis of their age. The income tax on real estate business is also calculated based on the overall taxable income.
FAQ
What is the manual procedure to file ITR offline?
The manual procedure to file ITR offline involves filling up the physical ITR form and submitting it to the designated Income Tax office.
Can I file my ITR myself?
Yes, you can file your ITR yourself. The Income Tax Department provides an online portal for the e-filing of ITR. You can register on the portal, fill in your details, upload the necessary documents and submit your return.
What Happens if ITR is not Filed? What are the consequences?
How can I correct my income tax return online?
You can correct your income tax return online by following the below steps:
- Login to the Income Tax e-filing portal.
- Click on "My Account" and select "View e-Filed Returns/Forms".
- Select the relevant assessment year and ITR form.
- Click on the "Rectify" button.
- Make the necessary changes in the return.
- Click on "Submit" and then "Preview and Submit".
How to check Income Tax E Filing Status?
Next Step:
- After sending to our mail id you have to pay through online banking/net banking
- After payment we will file your ITR within short span of time
- You will receive ITR acknowledgement to your mail ID
- For any queries kindly feel free to contact us by mail to taxexpert@bcshettyco.com
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