As per the notification issued by the Central Board of Direct Taxes (CBDT), it has now become mandatory for all the Individual and Hindu Undivided Family (HUF) whose annual income exceeds a total of 10 lacs to perform e-filing of their Income Tax Return. This will be applicable from Assessment Year 2012-13 and will remain mandatory for all such assessees. It may sound complicated for those individuals who will be e-filing their tax returns for the first time but in practice it is simply a faster and more secured method as all e-filed returns are processed faster and refunds (if applicable) can be obtained quickly.
You may be already informed that the last date of filing Income Tax Returns is 31st July 2012 for A.Y. 2012-13 and as such the concerned assessees who haven't e-filed their returns should hurry. This can be done easily from any Internet connected computer by following the steps as listed below:-
- First of all, you will have to visit www.incometaxindiaefiling.gov.in and then register yourself by using your PAN Number. This can be done by using the "New User Registration" link available therein and filling-up a simple registration form to continue. If you are already a registered user with login details, ignore the above procedure and simply login to continue.
- Now under the Download menu in the left sidebar of the above website, click on [e-filing A.Y. 2012-13] > [Individual, HUF]. Now you can choose the appropriate ITR form as listed there. For example, download the ITR-I (Sahaj) if the source of Income is from Salary or Pension only.
- After downloading the form, open it using Microsoft Excel and input all the details asked for in the said utility. After completing the form in the Excel Utility, click on [Validate] to verify whether any required field is empty or not in order. However, you will need to enable 'Macro' in MS Excel to use this feature or otherwise the [Validate] button will remain inactive.
- After validating the form as shown in above step, one XML file will be generated and saved into the computer. This file will have to be uploaded into the website after selecting the Assessment Year 2012-2013.
- Now, it will ask you whether you want to digitally sign the form. Select 'Yes' if you have the digital signature or otherwise choose 'No'.
- If everything is done correctly, you will be able to see a confirmation message on the screen. If so, the ITR-Verification form will be mailed back to the registered e-mail address. The ITR-V Acknowledgement can now be downloaded and should be printed in black ink only. Put your signature in it and send it to the IT Department by Ordinary Post. This should reach the following address within 120 days to be considered valid.
Income Tax Department-CPC,
Post Bag No-1, Electronic City Post Office,
Bangalore – 560100, Karnataka