What Is Income Tax Return (ITR)?

The e-filing portal lets you download the ITR forms online in simple steps.

1. Log in to the website - https://www.incometax.gov.in/iec/foportal.
2. Click on the "e-File" tab.
3. Under the "e-File" tab, choose "Income Tax Returns" and further the "View Filed Returns" option.
4. The e-filed returns are available for download against the assessment year.
5. You can click on the "Download Form" corresponding to the required assessment year and get the ITR form downloaded. 

You can also file the ITR return offline using the following steps.

1. Log in to the website - https://www.incometax.gov.in/iec/foportal.
2. Click on the "e-File" tab.
3. Under the "e-File" tab, choose "Income Tax Returns" and further the "File Income Tax Return" option.
4. Select the assessment year.
5. Select the mode of filing as offline.
6. Select the filing type and the ITR type.
7. Click on continue.
8. You will be redirected to the page where you must upload the filled ITR in .json file format.
9. On the same page, on the right side, you can find the option to download the offline utility and your pre-filled data for filing the income tax return. "Click here" to download the utility.
10. You can download the offline utility based on the ITR type and your computer operating system.
11. Using the utility and pre-filled data, you can file the ITR, create the .json file, and upload it under the link mentioned above.

After Income Tax Return (ITR) filing and e-verification, you can track the status online. There are two different methods to do it online.

● With login credentials

○ Log in to the website - https://www.incometax.gov.in/iec/foportal.

○ The current status of the filed return will be displayed on the dashboard on the right-hand side with the following details:

i. Return Filed On - The date on which you filed the return.

ii. Return Verified On - The date on which the return was e-verified.

iii. Return Processing - The date of commencement of processing.

iv. Processing Completion - The date of processing completion

v. You can also view a more detailed status of the previously filed returns using the following path under the e-File tab. e-File tab ->Income Tax Returns -> View Filed Returns

● Without login credentials

You can also view the status of the filed ITR without login credentials using the following steps:

a. Visit the link - https://www.incometax.gov.in/iec/foportal.

b. Under the Home tab, on the left-hand side, click on the Income Tax Return(ITR) Status option.

c. You will be redirected to a page where you must enter the acknowledgement and mobile number.

d. Click on Continue.

e. Once you authenticate using a mobile OTP, you can check your Income Tax Return status.

Filing an income tax return is mandatory for every eligible citizen of India. However, income tax return filing can provide different types of advantages. Here is a detail about it.

• Simple and seamless processing of refunds - IT returns filing online has made the process simple and quick. The process and instructions are detailed in simple language to make it easy for every taxpayer. Therefore, you can claim the IT return refund using a hassle-free process.
• Accurate validation - When you do the IT returns filing online, you can minimise the errors to a great extent. The e-filing portal and the in-built validations help surpass unnecessary simple errors that are bound to occur while opting for the paper process. It can also avoid human errors while transferring the data from the paper to the system.
• Comfortable and convenient - Filing the income tax return online is comfortable and convenient. You can be at your house or office and take up the process in a few minutes when you have the required documents handy. You can also conveniently file the ITR on any date before the IT return last date.
• Access to past data - You can access your previous sources of income and the taxes paid for any further references at any time. The data is securely stored for easy access.
• Proof of acknowledgement - When the IT return filing is complete, and further processing is done, you will receive timely proof of acknowledgement on your registered email ID.
• Online banking - As the income tax deposit and the tax refund process is applicable through online banking, the deposit and the credit activities happen instantly. 

Yes, you can submit your own ITR by visiting the online portal - https://www.incometax.gov.in/iec/foportal, filing the appropriate ITR form and verifying it for further processing. 

Yes, you are liable to pay the penalty if the ITR is not filed before the income tax return due date.

Yes, salaried employees need to file the income tax return form mandatorily.

No, you cannot skip completing and filing the income tax return even if you have paid advance taxes and have no refunds or dues. 

Yes, it is possible to file the ITR return even after the deadline. The income tax department notifies a belated date that extends upto 31st December for filing the income tax return. 

You will receive an income tax return notice from the IT department if you have not filed the ITR, there is a discrepancy in the amount declared in the ITR, or the department wants to verify a particular document. 

Filing the income tax return has many advantages, such as:

• Providing a simple and seamless way to process refunds.
• Accurately validating the financial information online.
• Providing access to past financial data.
• Compatibility with online banking for receiving refunds or paying liabilities, if any.
• Receiving prompt acknowledgement.

Before income tax return filing:  

1. You need to gather the important financial documents such as Form 16, Form 26A, Monthly Payslips, Bank Statements, original documents regarding investments applicable for deductions, etc.,
2. Get the calculations correctly.
3. Disclose all the different sources of income.
4. Include the appropriate exemptions and deductions
5. E - Verify the ITR form before the IT return last date.

Form 26AS is a consolidated document of taxes paid against your PAN, such as TDS deducted by banks, your employer, advance taxes and self-assessment taxes paid. 

You will get the excess tax paid as the ITR refund, credited to your bank account after the IT department successfully processes your ITR form. 

The e-verification of the income tax return refers to verifying the filled IT return form using an Electronic Verification Code. It is a 10-digit alpha-numeric sent to your Email ID or mobile number registered with your e-filing portal, demat account or bank account. It has a 72-hour validity from the time it is generated. 

If your total gross income exceeds the basic exemption limit, you are mandatorily liable to file the income tax return. The exemption limit varies based on the age of the taxpayer.

The income for a taxpayer is categorised as income from salary, income from other sources, capital gains, income from profession/business, income from house property, etc., 

A family pension received upon the death of an individual in the family is categorised as "Income from other sources". On the other hand, the pension provided to an employee based on past employment is taxable under the head, "Income from Salary." 

Taxable income up to ₹5 Lakh is exempt only for individuals above 80 years of age.

In India, agricultural income is exempt under Section 10(1) of the Income Tax Act, 1961.

Individuals with a taxable income less than or equal to ₹5 Lakh will qualify for a tax rebate under Section 87A. The tax liability is nil in such cases and applicable to the old and the new regimes. 

With a single email address and mobile number, you can file 10 ITR returns.

The following is the structure of the form ITR -1 

1. Section A – General Information
2. Section B – Gross total income
3. Section C – Deductions and total taxable income
4. Section D – Computation of the tax liability
5. Section E – Other information (Bank account details)
6. Schedule IT - Statements related to advance tax and self-assessment tax payments.
7. Schedule TDS - Statement of TDS and TCS
8. Verification