Income Tax Return Filing: What is ITR & How to File ITR Online?

  • Blog|Income Tax|
  • 2 Min Read
  • By Taxmann
  • |
  • Last Updated on 5 January, 2021

Recent Posts

Blog, News, Account & Audit

Understanding the Recognition Criteria for an Exchange of PPE Under Ind AS 16

Blog, News, Income Tax

HC Slams PCCIT for Granting Approval to Reassessment Without Considering That There Was No Escapement of Income

Latest from Taxmann

What is ITR Filing?

ITR filing or Income Tax Return filing is basically providing the Income Tax Department with an affirmation that the taxpayer has made necessary provision for assessment of his/her income and paid the taxes as required under the provisions of law. The Section 139 of Income Tax Act makes filing of return mandatory for a certain class of taxpayers. The criteria for mandatory filing of return include status of the taxpayer, amount of income taxable during the year, tax deduction being claimed, etc.
 

For more details, you may read our detailed article on Filing of Return of Income

How to File ITR Online?

Gone are the days when taxpayers had to struggle through a pile of documents in order to file their Income Tax returns. With an advancement in the technology, filing of Income Tax returns have become easy and quick. Apart from individual taxpayers, now corporates and tax professional working for their clients can also file their ITRs in a quick and hassle-free manner.
 
If you are still wondering about how to file ITR online, then you may use automated compliance software that takes care of the calculation of tax as well as preparation of returns, which gets filed with the Income Tax Department e-filing website directly. All you have to do is to fill the details of the income of the taxpayer and the rest will be efficiently handled by the software itself. 
 
Integrated software like Taxmann’s One Solution allows you a completely automated solution to your tax compliance requirements. Once the income details have been filled, the software will calculate the exemptions, deductions, tax amount with auto-mapping of data in relevant schedules and create XML.  Moreover, the return generated can be filed with the Income Tax Department’s e-filing website directly through the software itself. 
 

One Solution offers multiple tax compliance solutions TDS Returns & Audit Reports.

How to File ITR after Due Date?

For the F.Y. 2016-17, the extended deadline for filing of returns was 5th August, 2017. However, the due date for filing of belated returns was 31st March, 2018. The steps to file ITR after the due date are similar to how it’s done before. The only difference is that, now, the ITR has to be filed under section 139(4) instead of section 139(1).  Before proceeding for filing of ITR after due date, please make sure that you prepare the return in the correct form as prescribed by the Department for various heads of income. Also, if there is any amount of tax due post deduction of TDS and advance tax, there would be penal interest of 1% per month payable by such taxpayer. 

Disclaimer: The content/information published on the website is only for general information of the user and shall not be construed as legal advice. While the Taxmann has exercised reasonable efforts to ensure the veracity of information/content published, Taxmann shall be under no liability in any manner whatsoever for incorrect information, if any.

Comments are closed.

«
»

Everything on Tax and Corporate Laws of India

To subscribe to our weekly newsletter please log in/register on Taxmann.com

Author: Taxmann

Taxmann Publications has a dedicated in-house Research & Editorial Team. This team consists of a team of Chartered Accountants, Company Secretaries, and Lawyers. This team works under the guidance and supervision of editor-in-chief Mr Rakesh Bhargava.

The Research and Editorial Team is responsible for developing reliable and accurate content for the readers. The team follows the six-sigma approach to achieve the benchmark of zero error in its publications and research platforms. The team ensures that the following publication guidelines are thoroughly followed while developing the content:

  • The statutory material is obtained only from the authorized and reliable sources
  • All the latest developments in the judicial and legislative fields are covered
  • Prepare the analytical write-ups on current, controversial, and important issues to help the readers to understand the concept and its implications
  • Every content published by Taxmann is complete, accurate and lucid
  • All evidence-based statements are supported with proper reference to Section, Circular No., Notification No. or citations
  • The golden rules of grammar, style and consistency are thoroughly followed
  • Font and size that's easy to read and remain consistent across all imprint and digital publications are applied