- Advertisement -
Home Uncategorized Here is how to file Income Tax Returns for AY 2020-21: Step...

Here is how to file Income Tax Returns for AY 2020-21: Step by step guide

By
Business League
-
0

The department has released the ITR-1 utility (e-form) on its e-filing website available in Excel and Java formats

ITR can be filed by downloading the software in Excel or Java utility

The user can file the Income Tax Return (ITR) in two ways:
In offline mode: Download the applicable ITR, fill the form offline, save the generated XML file and then upload it. To e-File the ITR using the upload XML method, the user must download either of the following ITR utility: Excel Utility/Java Utility

Once you complete filling the asked details, you can generate an XML file and upload it on I

T Dept’s e-filing website

After you download the excel or the java version of the utility form, extract the downloaded utility ZIP file and open the Utility from the extracted folder. Then provide your information, fill the applicable and mandatory fields of the ITR form. Validate all the tabs of the ITR form and Calculate the Tax. Then generate and Upload the XML to e-Filing portal by entering user ID (PAN), Password.Click on the ‘e-File’ menu and click ‘Income Tax Return’ link and Submit the ITR.

From XML Schema you can download all the essential that you will need while filing ITR


Collect documents such as Form 16, salary slips, and interest certificates and Form 26AS. Keeping them handy will help you compute your gross taxable income and will provide you with the details of tax deducted at source (TDS) from your income in 2019-20.

However, taxpayers who are eligible to file ITR-1 and ITR-4 also have the option to file it online without downloading any software utility: Log in to your account

 

This is the second option. In online mode: Enter the relevant data directly online at e-filing portal and submit it. Taxpayer can file ITR 1 and ITR 4 online.
Also Read: Sensex rebounds, but investors stuck with low portfolio returns
Go to the Income Tax e-Filing portal, www.incometaxindiaefiling.gov.inLogin to e-Filing portal by entering user ID (PAN), Password, Captcha code and click ‘Login’.
Once you logged in click on the ‘e-File’ menu and click ‘Income Tax Return’ link. Fill in the asked details and submit it.
Then you can verify your ITR electronically and via physical verification. In the case of e-verification, you will not have to physically send your tax return to the Income Tax department.
After the return is verified, either via e-verification or physically, the income tax department will start processing your tax return. Once it is processed, the tax department will inform you of the same via e-mail.
- Advertisement -DISCLAIMER
We have taken all measures to ensure that the information provided in this article and on our social media platform is credible, verified and sourced from other Big media Houses. For any feedback or complaint, reach out to us at businessleaguein@gmail.com

RELATED ARTICLES

© Businessleague.in 2023 Izon web Pvt. Ltd. All Rights Reserved.
Exit mobile version