Here’s Your Complete Guide to Income Tax Filing

As per a report, the last date to file the income tax return is extended to 31^st December 2020. This makes it a viable situation for the new taxpayers to gain a comprehensive understanding of income tax filing before they proceed to file their tax returns. 

ITR or income tax return is a document that acts as a declaration of all your taxable income in a financial year. This form contains information on an individual’s potential sources of revenue as well. It is essential to know that filing your income tax before the deadline comes with multiple benefits and savings. On the other hand, late payment can lead to a fine of Rs.10,000 and loss of creditworthiness.

Nowadays, the process of ITR filing has become significantly convenient due to innovative technology and paperless procedures. Therefore, one must know how to login to the Income Tax Department’s e-filing portal before proceeding. 

Here is an easy guide to learn ways to open the income-tax login page in the official portal to file your returns.

Ways to check the income tax India login page

Filing an income tax return is not a hassle anymore. Individuals can use both online and offline methods for this process. 

1. Online process of filing ITR

Process of e-filling of income tax includes the following steps –

1. Visit the official website of the Income Tax Department.
2. If a taxpayer is not a registered user, he/she is required to register first with the Income Tax Department’s e-filing portal. Check the income tax login India page on the homepage to proceed with further steps. At the same time, registered users also need to go to the home page of the portal and select the ‘Login Here’ option.
3. Click on the portal and log in to your account by using PAN, password and captcha.
4. After this, you will be taken to the page containing various registration forms. You need to select the user type herein.
5. Once the user type is selected, it redirects to a page where you need to fill in the necessary details.
6. Enter the personal details and click on the continue button. It is crucial to check whether the surname and date of birth are filled as per PAN for accurate filing.
7. Then, you need to create an account on the IT Department’s website and select the primary as well as secondary options.
8. After entering contact details like phone number and email ID, residential details, PIN code, etc., click on the submit button.
9. An activation link is sent to the registered mail ID. Proceed to click on the link for your e-filing account activation.

Following this simple process, you can easily access the income-tax login portal and file your tax returns without any hassle. Apart from the online process, the IT department also allows individuals to file their ITR offline.

2. Offline method of filing ITR

Offline method of income tax return filing includes the following steps –

1. Visit the official website of the Income Tax Department.
2. Download ITR utility and then extract it.
3. Fill-up the mandatory fields.
4. Validate mentioned details and calculate tax as per the income tax slabs.
5. Once completed, generate and save this XML file.
6. Click on the ITR login page in the official website of the IT Department and upload this file alongside the application form.
7. Verify and complete this process via DSC, Aadhar, OTP, and EVC via bank.
8. Proceed to submit it to complete the process.

Documents required for income tax return filing

An individual is required to submit certain documents after accessing the income tax login page. The documents needed for the process are:

• Salary slips for salaried individuals.
• PAN card.
• TDS certificates.
• Bank statements for self-employed individuals.
• Interest certificates.

Additionally, one has to submit a few forms, which are:

• Form 16 A/B/C.
• Form 26AS.

Also, make sure you file your returns with the appropriate ITR form as per your income type and entity qualification.

Filing income tax returns in time is essential for many reasons. For instance, it acts as proof of income while applying for a home loan.

Various NBFCs also consider Form 16 as a vital income document for loan approval and disbursal process. They further provide pre-approved offers on financial products like home loans, loans against the property, etc. to simplify and hasten the process of financing. You can check your pre-approved offer by providing details like your name and contact number.

Therefore, one must try to research about the benefits of claiming returns as this would help borrowers save substantially. They must also plan on substantial savings to meet essential liabilities like home loan repayment and income tax payment to avoid incurring debts in the future. 

Keeping the Income Tax Department informed about one’s revenue and taxability offers potential benefits for the future. Now that the needed information on how to access the Income-tax login page is known, make sure to file your income tax return prior to the due date for maximum benefits from such filing.