How to file Income Tax Returns ( ITR )?

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The deadline to file IT returns for FY 2017-18 is on July 31, 2018. E-filing is super easy & It takes only 5-7 minutes.

Filing your income tax return is not as difficult as it may sound. Here is a step by step guide to e-file your income tax return. It is simple, easy and quick

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Before we get started, you should have the following documents at hand to pace up the process:


List of Required Documents for e-filing of tax returns

It is always good to stay a step ahead, especially when it comes to tax filing. The checklist provided below will help you to get started with the e-filing of tax returns.

General details:

  • Bank account details
  • PAN Number

Reporting salary income:

  • Rent receipts for claiming HRA
  • Form 16
  • Pay slips

Reporting House Property income:

  • Address of the house property
  • Details of the co-owners including their share in the mentioned property and PAN details
  • Certificate for home loan interest
  • Date when the construction was completed, in case under construction property was purchased
  • Name of the tenant and the rental income, in case the property is rented

Reporting capital gains:

  • Stock trading statement is required along with purchase details if there are capital gains from selling the shares
  • In case a house or property is sold, you must sought sale price, purchase price, details of registration and capital gain details
  • Details of mutual fund statement, sale and purchase of equity funds, debt funds, ELSS and SIPs

Reporting other income:

  • The income from interest is reported. In case of interest accumulated in savings account, bank account statements are required
  • Interest income from tax saving bonds and corporate bonds must be reported
  • The income details earned from post office deposit must be reported

STEP 1. Register yourself



To e-file your income tax return, you will have you register on the Income Tax Department’s online tax filing site (incometaxindiaefiling.gov.in). You have to provide your permanent account number (PAN), name and date of birth and choose a password. Your PAN will be your user ID.

STEP 2. Choose how you want to e-file
There are two ways of e-filing your income tax return. One is to go to the download section and select the requisite form, save it on your desktop and fill all the details offline and then upload it back on the site. Or you can choose to fill the form online by selecting the quick e-file option.

STEP 3. Select the requisite form

ITR-1: For individuals earning a salary, pension, or income from property or sources other than lottery.
ITR-2: For those earning capital gains. ITR 2A for those owning more than one house but no capital gains.
ITR 3, 4 and 4S: Professionals and business owners.

STEP 4. Keep the documents ready



Keep your PAN, Form 16, interest statements, TDS certificates, details of investments, insurance and home loans handy. Download Form 26AS, which summarises tax paid against your PAN. You can then validate your tax return with Form 26AS to check your tax liability.

If you earn more than Rs 50 lakh, from this year you will have to fill an additional column —”AL” or assets and liabilities. You will have to disclose the value of your assets and liabilities. Assets have to be declared at cost.

STEP 5. Fill form and upload

If you choose to fill the form offline, after you have downloaded the form and filled all the details, click on ‘generate XML’. Then go to the website again and click on the ‘upload XML’ button. You will have to first log in to upload the XML file saved on desktop and click on submit.

STEP 6. Verify ITR V



On submitting your ITR form, an acknowledgement number is generated. In case the return is submitted using digital signature, you just have to preserve this number. If the return is submitted without a digital signature, an ITR-V is generated and is sent to your registered email ID.

The tax filing process is incomplete and ITR is invalid unless your ITR V is verified. You can electronically verify or mail the signed ITR V to the processing centr ..

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27 COMMENTS

  4. It is very very useful and important for us as the same is very simple and from the stated procedure the e-filing should be crystal clear to every one

  6. i am un employee from 14 months should i file it returns this financial yeror not i dont have form 16 and all

  7. Hello there, just became alert to your blog through Google, and found that it is truly informative. I am gonna watch out for brussels. I’ll be grateful if you continue this in future. Lots of people will be benefited from your writing. Cheers!

  9. Informative and helpful for freshers.
    There is often a situation when we get the message that this PAN is already registered by some one.
    What to do in this case?

  10. An interesting discussion is worth comment.

    I believe that you should write more about this topic,
    it might not be a taboo subject but generally people don’t talk about these topics.

    To the next! Many thanks!!

  11. Namaste, mera pan number bahut old h, aur last 10years se return file Nahi kiya h, Kyonki koi income nahi ki, Aub wapas active karna chahta hu, to please guide me

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  14. Sir, What should I do. I am 70 years old and is. Pensioners. I have a Flat in Delhi from which I receive rent but I stay in Chennai for the pat three years for old age problem and live in a rental house paying more than what I receive. Can I claim rebate for what I pay (difference of renpaid- rent received). I am not employed.

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