Income Return Filing is a process of submitting your Income details to Income Tax Authority in a prescribed Form called ITR. As per latest Income Tax guideline, wef assessment year 2020-21 you have to submit your income in new ITR Form. The following ITRs are available in Income Tax Portal for filing as on date:
ITR 1- For Individuals being a Resident (other than Not Ordinarily Resident) having Total Income upto Rs.50 lakhs, having Income from Salaries, One House Property, Other Sources (Interest etc.), and Agricultural Income upto Rs.5 thousand(Not for an Individual who is either Director in a company or has invested in Unlisted Equity Shares)
ITR 2- For Individuals and HUFs not having income from profits and gains of business or profession
ITR 3- For individuals and HUFs having income from profits and gains of business or profession
ITR 4- For Individuals, HUFs and Firms (other than LLP) being a Resident having Total Income upto Rs.50 lakhs and having income from Business and Profession which is computed under sections 44AD, 44ADA or 44AE
(Not for an Individual who is either Director in a company or has invested in Unlisted Equity Shares)
ITR 5- For persons other than:- (i) Individual, (ii) HUF, (iii) Company and (iv) Person filing Form ITR-7
ITR 7- For persons including companies required to furnish return under sections 139(4A) or 139(4B) or 139(4C) or 139(4D)
How do I know my income tax?
Steps to View e-Filed Returns/Forms
1. Logon to 'e-Filing' Portal www.incometaxindiaefiling.gov.in.
2. Go to the 'My Account' menu and Click 'View e-Filed Returns / Forms' hyperlink.
3. Select the applicable option from the dropdown and click 'Submit' to view the details of the e-Filed Return/Forms.
Can we file ITR for last 3 years?
So its crystal clear now, that you cannot file the ITR for the past 3 years. If you want to file the income tax returns for the financial year 2017-18, the last date for filing the belated ITR is March 31, 2019.
Income tax refunds will be issued to the taxpayer only after the ITR is processed by the Income Tax Department. For the department to start the processing, it is necessary for the taxpayer to e-verify his tax returns within 120 days of filing his tax returns.
Can I file my ITR myself?
There are two ways to file income tax return online. One is to download the applicable IT form, fill, save and then upload it. Another is filing the for online. ThinkStock Photos Only ITR 1 and ITR 4 forms, filed by the individual taxpayers, can be filled online without downloading any software.
How can I verify my return?
Log-in to your e-filing account on the income tax website. Go to the 'e-verify returns' option. Select the ITR to verify it and select the option 'Already generated EVC through bank ATM. ' Enter the EVC and your tax return will be verified
| Service | Price | GST | Total |
|---|---|---|---|
| E-verification of ITR | 200.00 | 36.00 | 236.00 |
| ITR Rectification against notice | 800.00 | 144.00 | 944.00 |
| ITR-3 (For Individuals & HUF Having Income from Business of Profession) | 1500.00 | 270.00 | 1770.00 |
| ITR-5 (For LLP & Partnership Firm) | 1500.00 | 270.00 | 1770.00 |
| ITR-6 (Income Tax Return for Private Limited or Limited Company) | 2500.00 | 450.00 | 2950.00 |
| ITR-7 (Income Tax Return for Trust Society or Section 8 Company) | 1750.00 | 315.00 | 2065.00 |
| Demonetization Notice Reply | 25000.00 | 4500.00 | 4500.00 |
| Filed Return Amendment | 700.00 | 126.00 | 826.00 |
| Form 26AS | 300.00 | 54.00 | 354.00 |
| ITR (Form 10E) | 500.00 | 90.00 | 590.00 |
| Earlier Year ITR Filing ( Excluding any penalty and tax) ( Individulal) ( online mode) | 2500.00 | 450.00 | 2950.00 |
| ITR 1 (For individuals having total income upto Rs.50 lakh) ( Salary, House Property and Interset ) | 500.00 | 90.00 | 590.00 |
| ITR 2 (For Individualsand HUFs not having income from profits and gains of business or profession) | 1000.00 | 180.00 | 1180.00 |
| ITR 4- For Individuals, HUFs and Firms (other than LLP) and having total income up to Rs. 50.00 Lakhs from business and profession under sections 44AD, 44ADA or 44AE | 1500.00 | 270.00 | 1770.00 |
| Revised Return ( If original Return is not filed by Us) | 2500.00 | 450.00 | 2950.00 |
