Finance

E-filing and Income tax login FAQ: Answers to all your Pressing Queries

As an individual taxpayer, filing an ITR is bound to overwhelm you, what with all the disclosure requirements and numerous forms. Find the answers to all your queries regarding income tax login and e-filing and get rid of your tax worries.

It’s that time of the year when the biggest concern in everyone’s minds is filing income tax returns. Not sure how to proceed? Confused with the tons of documentations and procedures? Worry not. Here in this guide, you can find the answers to all your frequent queries regarding e-filing of income tax.

Let’s get started.

  1. What is e-filing of income tax?

The two ways in which an individual can file income tax returns are:

Traditional Filing – This is the offline method, where you go the income tax office in your city, get the forms, fill them up and physically file the returns.

E-filing – This is the newest and most convenient option. You create an income tax login, download the forms via the internet, fill them up and submit your returns using an online portal. Of late, this method has gained an enormous increase in popularity due to its ease of use.

  1. Should I file income tax return?

As per the Income Tax Act, you are required to file your returns if you meet any of the following conditions.

  • If you earn gross annual income in the following slabs:
Age Salary
If your age is below 60 years More than Rs. 2.5 lakhs
60 to 80 years More than Rs. 3.0lakhs
More than 80 years More than Rs. 5.0 lakhs
  • Earn income from a property
  • If you have invested in foreign assets and make revenue from it
  • If you own or a partner in a company, irrespective of the profit or loss
  1. Before when should I file the income tax return for this year?

The e-filing of returns for the financial year 2016 – 2017 is now open. Check out the due dates based on your income and turnover.

Class Threshold Last Date
Salaried individual/Income from capital gains/Income from other sources Nil 31st July 2017
Businessmen With a turnover/total sales less than one crore 31st July 2017
Professionals Gross receipt less than 50 lakhs 31st July 2017
Businessmen (for whom tax audits are applicable) With a turnover/total sales more than one crore 31st September 2017
Professionals (for whom tax audits are applicable) Gross receipt more than 50 lakhs 31st September 2017
  1. My annual salary is less than the taxable income. Should I bother with e-filing?

Yes, it’s highly recommended that you e-file your returns even if your annual salary is less than the taxable income. This is because a zero-return filing is helpful to claim tax refunds or if you apply for a visa or other loans.

  1. How do I download the ITR (Income Tax Returns) form from the e-filing portal of the Income Tax Dept?
  • Visit the e-filing portal at incometaxindiaefiling.gov.in.
  • Click on “Downloads” tab and choose “ITR”.
  • Select the Assessment period. In this case, 2017-2018.
  • Download the ITR form by clicking on the “Download” tab. You can opt to use Java or Excel to download the form based on your convenience.

E-Filing is a Boon for Tax Payers

The Income Tax Department has introduced e-filing to reduce the burden on tax payers. No more waiting in long queues at the Income Tax office. Instead, make use of these FAQs, download your ITR form and submit your tax returns all without leaving your desk.