How to E-file ITR 1 online ?



How to E-file ITR 1 online ?


 

Income Tax Return filing is not so hard, but if you get the basic things right. Nowadays, the government also encouraging to disclose your earning information and the technology really helps to ease the information online.


Income Tax Return is a task for the individuals, especially for the employees is a needy one. Employers would make TDS for the employees on account and then the employees can make the file easily through the part of Form 16.

 


What is ITR- 1 ?


 

The Income Tax Return (ITR) - 1 is a document or form that required to file by an individual whose total income for the Assessment year includes,

 

  • Income from Salary or Pension (or)

  • Income from House Property (or)

  • Income from other sources.


ITR- 1 also known as 'Sahaj' meaning easy in Hindi Language.



The following individuals who cannot file this ITR- 1:




  • If an individual's total income exceeds Rs. 50 Lakhs

  • If agriculture income is more than Rs. 5000

  • If you have any foreign assets

  • If you have any taxable capital gains

  • If income from more than one House property

  • If you have income from Business or Profession.




For Filing a return ITR- 1, we can get this form from online or offline, filled the details required and send it to your nearest Income Tax Department's office.


Here, we are going to see, 'How to file the ITR - 1 form online ?

Step by Step:

 

  1.  Go to https://incometaxindiaefiling.gov.in/    (or) Google it, 'incometaxindia efiling' and follow the link





2. If you are not registered, you can register yourself. Go to the link: https://incometaxindiaefiling.gov.in/e-Filing/Registration/RegistrationHome.html


[ It showing in the right side top of the page ]




You can select User Type, as an 'Individual' and continue...


Enter your PAN following with your surname, middle name, first name and date of birth. Kindly note while entering the PAN, your surname and the date of birth is mandatory.

After registering the required details, you should be go to the next page with the basic information of you, your address, email and mobile number. On completion of registration process, you have to be verify your mobile number and email by the authentication sent by the Income tax India E-filing website.

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3. Now, you can login:  https://incometaxindiaefiling.gov.in/e-Filing/UserLogin/LoginHome.html

[ It showing in the right side top of the page ]

Enter you userid, i.e. your PAN and the password and fill with the captcha and login now.

Now, you can view a Dashboard for you. you can see some menus in the top. Click the  'e-file' menu  >  Prepare and Submit online ITR 

After clicking that, you can now see an info... ITR - 1 - Assessment year - 201X -1X

Structure of ITR - 1:

you can read the 'General instructions' under instructions of the ITR - 1 and there are 5 parts in the structure of ITR - 1 form.

 

  • PART A - GENERAL INFORMATION

  • PART B - GROSS TOTAL INCOME DETAILS

  • PART C - DEDUCTIONS AND TAXABLE TOTAL INCOME

  • PART D - COMPUTATION OF TAX PAYABLE

  • PART E - OTHER INFORMATION

  • 80 G


a) PART A - GENERAL INFORMATION:

This is the primary section of this ITR-1 Sahaj form. You can view the details of you, like NAME, PAN, DOB, , MOBILE NO, EMAIL, AADHAAR, and ADDRESS DETAILS. Mostly it is prefilled details as per your PAN information. The next one is the filing status, which you should choose your employer's category. Return filed commonly used as 11 - Voluntarily on or before due date under section 139(1).

If you make this return as first time, then fill it as "Original" Return, else you have to choose the "Revised" one for any changes or corrections.

Select the option whether are you governed by Portuguese civil code as per section 5A.

b) PART B - GROSS TOTAL INCOME:

Before fill this part, kindly check it your Form 26AS (To view form 26AS > go to My Account > Click "View Form 26AS Tax credit ), if there is any other source of income, apart from Salary (Form 16).

In the first row of this part, enter your gross salary and then fill up the House property details, and if there is other sources of income.

c) PART C - DEDUCTIONS AND TAXABLE TOTAL INCOME:

You can enter the deductions availed by you u/s 80C, 80CCC, 80CCD, 80CCG, 80D, 80E, 80G, 80U, and 80TTA, if any.

On upon entering the above information, the deductions are deducted from your gross salary and finally the taxable income arrived.

d) PART D - COMPUTATION OF TAX PAYABLE:

After completing the Part C, you can have a Taxable income. So that what are the tax payable on your total income, if any rebate, tax paid, amount payable and refund details, if any.

You can also enter if any exempted income like Long term capital gains, exempted dividend income, or agricultural income if less than or equal to Rs. 5000 /-

e) PART E - OTHER INFORMATION:


Here, you can enter your bank account details, if any refund available to credit and you can also view the TDS (Form 16) details issued by your employer.

Finally, If you made any donations that are covered under section 80G. Some donations are entitled for 100 % deduction and some others are at 50 % deduction without qualifying any limit.

Kindly read everything on all the parts in the ITR - 1 and fill the details, whatever you required and want. On Data entry, you can click 'save draft' to avoid the loss of data entered. Don't be rush to click the 'Preview and Submit'. Fill it everything and finally you can preview the information you entered and submit there.


After submission / uploaded, you must e-verify your filed returns. You can have more options to verify.




On Successful upload of Returns, you can use your Aadhaar OTP receiving on your mobile number to e-verify for the easiest way. You can have also other options like sending the ITR - V by post, EVC, validating through your bank account.

After Completion of the above process or not, you can just go the 'Dashboard' in the left side top of the page. In the Dashboard, you can check it out the returns / forms, any pending actions, cash transactions 2016.

If you still confused, better to consult a Chartered Accountant (CA) or related Financial Advisor for your Well wish :)

Kindly share your views / comments with a smile :)

Great Investing !
RICH INVESTING IDEAS – www.richinvestingideas.com

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