Income Tax (ITR ) E-Filing?

An income tax return is a form that allows a taxpayer to declare their income, expenses, tax deductions, investments, and taxes. Income Tax Act 1961 makes it compulsory under various scenarios for a taxpayer to file an income tax return. An income tax return is a form filed to report the annual income of a taxpayer. ITR can be filed online as well as offline. The Process to file Income Tax Returns (ITR) by using the internet is called E-filing.

ITR Procedure

Step-by-step process for ITR e-filing

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STEP 1 : Step 1:Go to the Income Tax e-Filing portal, https://www.incometax.gov.in/iec/foportal/

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STEP 2 : Login to e-Filing portal by entering user ID (PAN), Password, Captcha code and click 'Login'.

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STEP 3 : Click on the 'e-File' menu and click 'Income Tax Return' link.

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STEP 4 : On Income Tax Return Page:

PAN will be auto-populated Select 'Assessment Year' Select 'ITR Form Number' Select 'Filing Type' as 'Original/Revised Return' Select 'Submission Mode' as 'Prepare and Submit Online'

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STEP 5 : Click on 'Continue'.

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STEP 6 : Read the Instructions carefully and Fill all the applicable and mandatory fields of the Online ITR Form.

Note : To avoid loss of data/rework due session timeout, Click on ‘Save Draft’ button periodically to save the entered ITR details as a draft. The saved draft will be available for 30 days from the date of saving or till the date of filing the return or till there is no change in the XML schema of the notified ITR (Whichever is earlier).

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STEP 7:Choose the appropriate Verification option in the 'Taxes Paid and Verification' tab. Choose any one of the following option to verify the Income Tax Return.

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STEP 8 : I would like to e-Verify.

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STEP 9 : I would like to e-Verify later within 120 days from the date of filing..

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STEP 10 : I don't want to e-Verify and would like to send signed ITR-V through normal or speed post to "Centralized Processing Center, Income Tax Department, Bengaluru - 560 500" within 120 days from date of filing.

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STEP 11 : Click on 'Preview and Submit' button, Verify all the data entered in the ITR.

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STEP 12 : 'Submit' the ITR.

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STEP 13 : On Choosing 'I would like to e-Verify' option, e-Verification can be done through any of the following methods by entering the EVC/OTP when asked for

EVC generated through bank ATM or Generate EVC option under My Account
Aadhaar OTP
Prevalidated Bank Account
Prevalidated Demat Account
Note
On Choosing the other two verification options, the ITR will be submitted but the process of filing the ITRs is not complete until it is verified. The submitted ITR should be e-Verified later by using 'My Account > e-Verify Return' option or the signed ITR-V should be sent to CPC, Bengaluru

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STEP 14 : The EVC/OTP should be entered within 60 seconds, else the Income Tax Return (ITR) will be auto-submitted. The submitted ITR should be verified later by using 'My Account > e-Verify Return' option or by sending signed ITR-V to CPC.= .

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STEP 15 : To view the uploaded ITRs .

Frequently Asked Questions

What is a Private Limited Company?
Private Limited Company is the most sought form of Company Registration in India. It is the most preferred form of business and regulated by Ministry of Corporate Affairs (MCA) under Companies Act, 2013. A Private Limited Company is a type of business structure registered with MCA to give a separate legal existence to the business different from its directors and shareholders. This means that a company continues to exist even after the death of any member/director in the company.
A minimum of two persons are required to form a Private Limited Company. It is not even important that members should be different from directors. In a company, two persons can act as Members and Directors both at the same time. Members and Shareholders are one in the same. That means an individual may become shareholder and director at the same time.
There is no minimum capital requirement to form a Private Limited Company Registration. Start-ups may choose on their own how much paid-up capital they want to keep during the Company Registration. However, generally one lac capital is kept as per most companies registered.
Name reservation is quite simple and easy to obtain. Our professionals will guide and help you in choosing the best suitable name of your company according to name guidelines of company incorporation and trademark laws.
Director Identification Number (DIN) is a unique number assigned by the MCA to Individuals allowing them to become Director in any Company or Designated Partner in an LLP (In LLP, it is called DPIN). Any natural person above the age of 18 years can become the director in the company after getting DIN. There are no specific regulations provided in terms of citizenship or residency, also a foreign national can become a director.
Digital Signature Certificates (DSC) are the digital equivalent (electronic format) of physical or paper-based certificates. Likewise, a digital certificate can be presented electronically to prove one's identity, to access information or services on the Internet or to sign certain documents digitally. SPICE+ forms are filed for online company registration after affixing the DSC. The subscribers to MOA & AOA shall possess DSC for submitting e-forms for incorporation.
Memorandum of Association (MOA) is a legal document prepared during the registration process of a company to define its relationship with shareholders and contains the main objectives of the company. Articles of Association (AOA) are by-laws of the company and it regulates management of a company and creates certain rights and obligations between the members and the company.
Yes, Startups get benefits of getting themselves registered as a Start-up under DPIIT and avail many benefits launched by the Govt. Corporates recognize Private Limited Company very well and the foremost advantage is of credibility and good reputation of the established business in the eyes of Investors, Incubation Centres, Financial Institutions and Customers at large.
Post incorporation compliances are easy and manageable. Companies Act, 2013 provides a lot of exemptions to private Companies due to which compliances becomes easy and handy. At CCL, Professionals are there to manage each and every compliance of your company. Get in touch with us to know the post incorporation compliance especially commencement of business.
No, With Compliance Calendar LLP, no compliance is complicated. Our team is here to manage each and every thing when it is about managing company compliances.
We are the market experts in registration and compliance of Companies. We can help you with end-to-end services in Private Limited Registration anywhere in India. Company Registration is a legal process and therefore it is prudent to assign the work to a professionally managed firm like CCL.
Not to worry at all! A Professional from our experienced team will resolve all your queries. Our Company Registration Experts will give you the best advice without any consultancy fees.