Tuesday 1 August 2017

Step by Step guide for filing tax returns

Have you filed your ITR? 5th August 2017 is the last day to file your tax returns

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Have you filed your tax returns? Hurry now! Before the day ends, all individuals have to file tax returns for 2016-17 fiscal or assessment year 2016-17. An official of the income tax department on Sunday said that the last date for filing ITRs will not be extended.
Here is how you can file your ITR online, Follow these steps:
1. Create your e-filing account on the Income Tax Filing website and register yourself. gistration will be completed by clicking activation link sent via email and providing one-time password (OTP) received on the mobile. Click on the 'Registered user' if you have already registered yourself on the website. Download the Form 26AS and Form 16. Form 26AS is a consolidated tax statement which summarises the amount paid against each PAN number.
 
2. Next, select the relevant form and assessment year for which the return has to be filed. Here taxpayer can pick his address either from the PAN database, from previously filed return or fill in new address. The department here asks you whether you want to digitally sign your return. If selected 'Yes', you are required to upload your signature which needs to be pre-registered at the income tax website.
 
3. Click on the 'Submit' button and the website will redirect you to the page for filling the form selected by you.
 
4. ITR V will be generated. Sign the ITR V in blue ink and send it to the Income Tax Department - CPC, Post Bag No - 1, Electronic City Post Office, Bengaluru by ordinary post or speed post within 120 days.
 
5. Check your emails for an acknowledgement of the receipt. You will also receive an SMS on your mobile number acknowledging the receipt.
 
In case you are still confused, you can visit ClearTax website and seek assistance from CAs or file it online. Here are the steps
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