Kumari Palany & Co

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Last date to file IT returns gets extended

Posted on: 03/Aug/2017 2:36:59 PM
Here comes the tax filing season. The last date for filing Income Tax Returns is extended to 5th August, whereas the original deadline was 31st July. Below are simple steps on how to file tax.
 
For first time tax filers, you ought to get registered on www.incometaxindiaefiling.gov.in to start with.
 
As the first step, log into your account and click on ITR form. There are options to View Returns or Forms, or Quick e-File ITR.
 
Note that there are different kinds of ITR forms. For instance, ITR 4 is the form used for people who get income tax through proprietary business. ITR 3 is the form for those who share profit out of partnership firm. Feed all your pre-filled personal information or get it filled from scratch. Enter details like your income you’ve earned so far, all the tax deductions as per chapter VI-A, and the deduction in tax made by your employer or others.
When you need to make tax payment, you should make online payment and produce the Challan Identification Number and challan counterfoil.
 
Fill the ITR form with all the details out of challan, CIN, payment details, and bank details via which the payments are processed. 
 
Once done, click on submit returns and upload the XML file. Get the ITR-V form printed out of verification or get it verified online with your PAN or Aadhar card details. If you’re sending the ITR-V form to the Income Tax office or printing it, you need to do it within 120 days of making your e-filing of return.
 
On completing this, you will get an acknowledgement for the IT return filing to your registered mail id.
 
The presence of digital signature on the return indicates that you are done with the filing process.

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