E-portal Income Tax (Step-By-Step Guide)

The income tax system is a way to generate income for a country’s government. Every citizen must pay a tax to support the government. It is similar to the concept of sales tax in that it applies to the total income of everyone within its jurisdiction. So our government makes this process easy with the e-portal.

The e-portal is the official portal of the Income Tax Department, Ministry of Finance, Government of India. The portal was developed as a Mission Mode project as part of the National e-Government Plan. The purpose of this portal is to provide taxpayers and other stakeholders with a single access point to income tax-related services. This article will help you to know more about eportal income tax.

What Documents Do You Need to File a Tax Return

It is necessary to have all of the applicable files available before you begin your e-filling process. Here are required documents:

1. Bank account passbook, PPF account passbook
2. Salary slips
3. Aadhar Card, PAN card
4. Form-16- TDS certificates issued to you by your employer to provide details of the salary paid to you and TDS deducted on it, if any Interest certificates from  post office and bank.
5. Form-16A, if TDS is deducted on bills apart from salaries such as interest received from fixed deposits, recurring deposits, etc. over the specified limits as per the current tax legal guidelines.
6. Form-16B from the consumer when you have offered a property, displaying the TDS deducted on the quantity paid to you.
7. Form-16C from your tenant, for providing information on TDS deducted from the rent received by you, if any.
8. Form 26AS – your consolidated annual tax declaration and It has all the information about the taxes deposited against your PAN.

a) TDS deducted by your employer.

b) TDS deducted by banks.

c) TDS deducted by any other organizations from bills made to you.

d) Advance taxes deposited by you.

e) Self-evaluation taxes paid by you.

9. Tax saving funding proofs.
10. Proofs to assert deductions below section 80D to 80U (medical health insurance premium for self and family, interest on education loan).
11. Home loan declaration from bank.

Who Is Eligible for Refund of Income Tax

There are many cases where you will be eligible for ITR refund. Some of them are here:

1. If the tax you paid in advance on your self-assessment is more than the tax payable on the basis of regular assessment.
2. If your TDS from salaries, interest on securities or debentures, dividends, etc. is higher than the tax payable on the basis of regular assessment.
3. The same income is taxable both in foreign countries (countries with which the Government of India has double taxation treaties) and in India.
4. If the tax has charged, based on your regular assessments then gets reduced because an error in the assessment process was resolved.
5. If you have an investment that provides unexplained tax benefits and deductions.
6. If it determines that the amount of tax paid is negative after considering the amount of tax paid and deductions.

What Are the Types of Income Tax Return

In total, there are almost nine different ITR forms that taxpayers can use to file their taxes. However, when filing a return under the Central Direct Tax Commission of India, only the following forms need to be considered by an individual. 

The following income tax returns apply only to corporations and companies:

How Do I Submit a Tax Return

You can easily submit a tax return through these following steps:

1. Log in to the Income Tax Authority portal (www.incometaxindiaefiling.gov.in)  and submit your tax return online. Register with a Permanent Account Number (PAN), which acts as your user ID.

2. Under download, go to e-filing under the applicable year of assessment and select the appropriate Income Tax Return (ITR) form, and Download ITR-1’s (Sahaj) return preparation software if you are a salaried individual.

3. Open the return preparation software (Excel utility) that you have downloaded and follow the instructions to enter all details of Form 16.

4. Calculate the tax due, pay the tax and enter the challan details related to the tax return. If you are not a taxpayer, you can skip this step.

5. Review the data you entered and generate an XML file that is automatically saved to your computer.

6. 6-Go to the submit return section and upload your XML file.

7. When prompted, you can digitally sign the file. If you don’t have a digital signature then you can skip this step.

8. A message will appear on the screen confirming that the e-filling was successful and the Confirmation Form – An ITR proof will be generated and available for download now, you will get an email on your registered email ID.

9. Now, you can e-verify the return through any one of the below six modes: 1- Net banking, 2- Bank ATM, 3- Aadhaar OTP, 4- Bank Account Number, 5- Demat Account Number, 6- Registered Mobile Number & E-mail id.

E-verification eliminates the need to send physical copies of ITR-5 approval to CPC, Bengaluru

How Should a Beginner File a Tax Return

First-time income earners/taxpayers can be confused when determining and summarizing income for tax purposes. Here is guidance on how to file a tax return:

1. Firstly, go to the Income Tax e-Filing Portal. https://www.incometax.gov.in/iec/foportal/
2. Enter your user ID (PAN), password, captcha code, and tap on login.
3. Tap on the e- file menu and select the Income Tax Return link.
4. Click next. Please read the instructions carefully and complete all applicable and required fields on the online ITR form.
5. Select the appropriate verification option on the Tax Paid and Verification tab.
6. To review your income tax return, select one of the following options:

I would like to e-Verify

or

I would like to do electronic authentication later within 120 days from the filing date.

7. I do not want electronic authentication and would also like to send a signed ITR-V through normal or speed post to “Centralized Processing Center(CPC), Income Tax Department, Bengaluru – 560 500 Within 120 days from date of submission.
8. Click the Preview and Submit button to see all the data entered into the ITR.
9. Submit the ITR.
10. After choosing I would like to e-Verify option then e-Verification can be done through any of the following methods by entering the EVC/OTP when asked for.
11. EVC/OTP must be entered within 60 seconds. Otherwise, an Income Tax Return (ITR) will be automatically filed. 
12. Submitted ITRs must be later verified using the My Account → e-Verify Return option or a signed ITR-V must be submitted to the CPC.
13. To view the uploaded ITR.

FAQs: E-portal Income Tax

When should I get my income tax return?

The government has simplified this process with online income tax returns. After submitting and reviewing your IT return, your income tax refund is typically 20-45 days after your ITR is processed. If it takes longer, please contact the Centralized Processing Center (CPC). You can track your income tax refund online.

Can I submit my tax return myself?

Yes, You can file or submit your ITR return online using the electronic income tax portal or ClearTax. If you are submitting your return through the government portal, you must submit it in offline or online mode.

Does everyone get tax returns?

Not everyone has to file a tax return. Whether or not you have to file taxes depends on four factors: income, tax return status, age, and whether you have special circumstances. Even if you don’t have to file taxes, you can still claim tax credits and other benefits.

When can I submit my tax return 2022?

For most individual taxpayers, the final filing date for income tax returns for 2022-23 was 31 July 2022.

Conclusion

Every country has a set of income taxes it enforces against its citizens. The collected taxes are known as revenues or taxes and are used to run the country. In this article, you got to know about eportal income tax. 

Hopefully, you got covered your all questions related to e-portal income tax. If you have any questions please comment below.

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