The e-filling portal for income tax returns (ITR) for the financial year 2017-18 or assessment year 2018-19 has been opened by the Income Tax Department for those who are eligible for filing the ITR Form-1 (Sahaj). People who can file the form are those whose income is up to Rs 50 lakh. Unlike last time, the ITR Form-1 (Sahaj) has undergone many changes.
The form is applicable to residents of India. Before filling the ITR Form-1 (Sahaj), you should keep in handy details regarding Income from any source, such as property, salary, breakup of salary, etc. You would need to pay a late fee under fee u/s 234F if you miss the deadline.
Ways to fill the ITR Form-1 (Sahaj):
You can fill the form online or offline.
When filing the ITR Form-1 (Sahaj) form offline, you will need to take a print and fill it up in order to submit it. Once the tax department receives your form, it will send you an acknowledgement.
However, not everybody is allowed to fill the form offline. Those who can do so are:
– Super senior citizens (80 years and above)
– Individuals or HUF whose returns are without refund claims in the IT returns
– Those whose income is of up to Rs five lakh
There are two ways of filling the form online. One is by manually entering all details and submitting the return online. The other is by uploading XML files through offline methods.
– Submitting online:
This form needs to be submitted to the Income Tax Department’s website.
Log on to http://www.incometaxindiaefiling.gov.in. You will need to keep your user ID, password and date of birth ready for this. You will also be asked to enter a captcha code.
When you sign in, click on the option which says “Filling of Income Tax Return”
Select the ITR form name, choose the assessment year as well as the submission mode. You will need to prepare this and submit it on the website itself.
Fill in the rest of the details as required and hit the submit button.
The system will generate a message of acknowledgement which will tell you that your income tax return has been submitted successfully. After this, the ITR-V would pop up on the screen. This will be the acknowledgement and you will need to download this. The ITR-V would also be sent to the email id you have registered with the IT Department website.
– Uploading XMLs:
Log on to the website http://www.incometaxindiaefiling.gov.in. Go to the homepage. Click on the “Offline Utilities” option.
You will come across another option which says “Income Tax Return Preparation Utilities”.
Choose the Assessment Year for which you are filling the income tax return.
Download the offline utility (Excel or Java)
Prepare the income tax return form offline at your convenience, save it and extract XML files.
Then go online again, click on the “Filing of Income Tax Return” option and submit the XML files.
E-verify your the filing of your return within 120 days of submitting it to complete the process.