Through the FY FY 2022-23 (AY 2023-24) which comes to an end, there are various assessees who shall furnish their ITR or income tax return as it is essential to furnish the ITR according to the income tax act 1961. ITR is the form prescribed through the council of the income tax to communicate the information of the income obtained through the taxpayer in the FY and the tax furnished on that.

An assessee can e-file his ITR on the portal of the Income Tax Department. This discussion is the guide to elaborate on how to furnish the e-file ITR:

Log in Portal of e-filing

Assessee can e-file their ITR on the government e-filing portal the option for login is mentioned on the right side of the home page of the website. The mentioned information is to be furnished while logging in:

  • User Id(that differs based on the user type) 
  • Password 
  • Captcha Code

Find Form 26AS

Form 26AS is being written through the Income-tax department which consists of information of tax credited in form TDS, TCS, or advances tax which can be availed as a credit through the taxpayers in the income tax returns. Prior to the furnishing of the income tax return, the assessee should ensure that the amount of TDS as shown in Form 26 AS matches with the amount shown in the TDS statement. If the amount of TDS shown in Form 26AS is lower as compared to the mentioned amount in the TDS statement. The assessee shall not be entitled to avail the correct TDS as the credit in his ITR excluding verifying the differences. Form 26AS can be seen and downloaded via the income tax portal. Check the Form 26AS. 

Opt for the Correct Mode to Furnish ITR

ITR can be e-filed either through offline mode or online mode through the assessee. Practicing the online mode the assessee can enter the information directly on the e-filing portal and furnish the return. One can file the ITR online as the facility to furnish ITR-1 and ITR-4 is available on the portal. The income tax department showed the amendment in ITR-1 and ITR-4 for the annual year 2023-24. The offline mode can be practiced for furnishing all types of ITR. the user can download the liable form to him, fill the form offline, generate XML, and upload the generated XML on the portal.

4. Download the Relevant ITR Preparation Utility

If you are furnishing the ITR through the XML upload method the user shall need to download the relevant ITR utility. Tap on ITR return preparation software beneath the downloads on the home page and opt for the correct assessment year to download the relevant utility. 

Whether JSON utility is relevant for you relies on your system. The mention is the system needs for distinct utilities:

JSON Utilities: Microsoft Windows 7/8/10, Linux and Mac OS 10.x with JRE (JSON Runtime Environment) Version 8 with the latest updates.

5. Fill the Information in the ITR Form & Compute Tax

Post to download the specific ITR preparation utility, the assessee required to furnish the applicable essential information. The personal and other information which is available can be pre-filled importing the pre-filled XML to the utility. The assessee can compute the tax post to verify the tabs. 

6. Generate File in the XML Format

After the process of validating the income tax return, a file of XML format is to be generated.  Then save the XML Format.

7. Upload the ITR

When you are already logged in. To upload the return on the web portal the user must tap on the e-file menu and tap to the ITR link. PAN shall be auto-populated on the ITR page. Post to opt the assessment year, ITR form Number, Filing Type as Original/Revised Return, & Submission Mode as Upload XML. Tap on continue and upload the XML file.

8. Verify Your the ITR

Filing the ITR is not acknowledged as complete unless the return is validated. The assessee needs to opt for any one of the mentioned options to validate the ITR:

  • Digital Signature Certificate (DSC).
  • Aadhaar OTP.
  • EVC using Prevalidated Bank Account Details.
  • EVC using Prevalidated Demat Account Details.
  • Previously generated EVC via My Account Generate EVC Option or Bank ATM. Validity of such EVC is 72 hours from the time of generation.

In the contemporary scenario, most people want free online income tax filing to evaluate its efficiency and effectiveness. However, they got a software purchase form and were disappointed. If you are looking for a demo of IT return software for online registration and tax refund.

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