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The Economic Times
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| 04 April, 2022, 02:55 PM IST | E-Paper
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Business News›Wealth›Tax›How to file ITR

    Quick Links

    • Correcting mistakes
    • Documents to file ITR
    • ITR verification
    • Claiming deductions
    • Form 16/Form 16A
    • Form 26AS
    • Income tax notice
    • Income tax refund
    • Form to file ITR
    • HRA exemption
    • Who has to file ITR
    • ITR filing deadline

    Preparation to file ITR

    Income tax dept tracks these 46 financial transactions of yours via the Annual Information Statement

    The income tax department has launched the Annual Information Statement or also known as AIS. It shows the information the income tax department has of an individual. Here is a look at 46 financial transactions that the tax department knows about you via the AIS.

    How to change password on income tax portal using Aadhaar OTP, e-file OTP, DSC?
    ITR filing: How to update your profile details on the new income tax portal?
    How to correct mistakes made at the time of paying income tax
    How to pre-validate bank account to receive income tax refund
    How NRIs stuck due to pandemic will be taxed in India for FY 2020-21How NRIs stuck due to pandemic will be taxed in India for FY 2020-21
    How NRIs can use DTAA to avoid double taxation in IndiaHow NRIs can use DTAA to avoid double taxation in India
    Delay in ITR filing can cost these taxpayers 1% penal interest a month: Here’s whyDelay in ITR filing can cost these taxpayers 1% penal interest a month: Here’s why
    How to reduce penal interest payable on tax if ITR filing delayed due to glitches in siteHow to reduce penal interest payable on tax if ITR filing delayed due to glitches in site
    How to register yourself on the new income tax portal for filing ITRHow to register yourself on the new income tax portal for filing ITR
    9 documents you need to file your income tax return9 documents you need to file your income tax return
    Income tax return filing deadline for FY 2020-21 extended to December 31, 2021Income tax return filing deadline for FY 2020-21 extended to December 31, 2021
    ITR Filing: Which income tax return form is applicable to you for FY 2020-21ITR Filing: Which income tax return form is applicable to you for FY 2020-21
    Senior citizens aged 75 and above are not exempted from ITR filing this yearSenior citizens aged 75 and above are not exempted from ITR filing this year
    Penalty for missing ITR filing deadline has been cut to halfPenalty for missing ITR filing deadline has been cut to half
    Cost inflation index for FY 2021-22 used for LTCG calculation notified by income tax departmentCost inflation index for FY 2021-22 used for LTCG calculation notified by income tax department
    I-T dept launches new e-filing portal, asks taxpayers to update mobile number, email IDI-T dept launches new e-filing portal, asks taxpayers to update mobile number, email ID
    Missed the income tax return filing deadline? Here's what you can doMissed the income tax return filing deadline? Here's what you can do
    ITR filing: Computing your total taxable incomeITR filing: Computing your total taxable income
    What is 'Income from other sources'? Here are 5 things you should knowWhat is 'Income from other sources'? Here are 5 things you should know
    Importance of Form 26AS in ITR filing processImportance of Form 26AS in ITR filing process
    Form 26AS: 4 new things that your tax passbook will now showForm 26AS: 4 new things that your tax passbook will now show
    ITR filing: How to download Form 26ASITR filing: How to download Form 26AS
    How to validate digital signature in Form 16 onlineHow to validate digital signature in Form 16 online
    How ICICI Bank customers can download Form-16A, interest certificateHow ICICI Bank customers can download Form-16A, interest certificate

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    Fill and File ITR

    When can you not use Form ITR1 to file income tax return for FY 2020-21?When can you not use Form ITR1 to file income tax return for FY 2020-21?

    Form ITR-1 is used by most individual salaried taxpayers to file their income tax returns. However, there are certain situations where an individual cannot use ITR-1 or Sahaj to file their tax returns. Here is a look at those circumstances.

    How to claim credit of TDS deducted by employer but not paid to govt?How to claim credit of TDS deducted by employer but not paid to govt?
    How to login into new income tax portal?How to login into new income tax portal?
    How to get errors in Annual Information Statement correctedHow to get errors in Annual Information Statement corrected
    What is AIS and how to download it from new income tax portalWhat is AIS and how to download it from new income tax portal
    How to file ITR if you have more than one Form 16How to file ITR if you have more than one Form 16
    ITR filing: New annual information statement accessible on e-filing portalITR filing: New annual information statement accessible on e-filing portal
    AIS shows ALL your digital financial transactions that the income tax dept knows aboutAIS shows ALL your digital financial transactions that the income tax dept knows about
    Section 80C tax benefit not available on this type of home loanSection 80C tax benefit not available on this type of home loan
    How to register yourself on the new income tax portal for filing ITRHow to register yourself on the new income tax portal for filing ITR
    Forgot to verify your income tax return? Here is what you can doForgot to verify your income tax return? Here is what you can do
    Claiming deductions under section 80C to 80U under old tax regime while filing ITRClaiming deductions under section 80C to 80U under old tax regime while filing ITR
    How to file ITR-2 with salary income, capital gains and other incomes for FY 2020-21How to file ITR-2 with salary income, capital gains and other incomes for FY 2020-21
    How to report cryptocurrency gains, losses in income tax returnHow to report cryptocurrency gains, losses in income tax return
    ITR filing: How to report excess employer contribution to EPF, NPS, retirement fundsITR filing: How to report excess employer contribution to EPF, NPS, retirement funds
    Forgot to submit LTC cash scheme bills to employer? You may be able to claim tax break in ITRForgot to submit LTC cash scheme bills to employer? You may be able to claim tax break in ITR
    Do you have to report cryptocurrency investments as foreign assets in your income tax return?Do you have to report cryptocurrency investments as foreign assets in your income tax return?
    Are you a DIY ITR filer? Don't forget to report these incomes, assets in your tax returnAre you a DIY ITR filer? Don't forget to report these incomes, assets in your tax return
    ITR filing: How inflation can help reduce your income tax liabilityITR filing: How inflation can help reduce your income tax liability
    How to adjust capital gains against capital losses in ITRHow to adjust capital gains against capital losses in ITR
    How to claim LTC Cash Voucher exemption in your income tax returnHow to claim LTC Cash Voucher exemption in your income tax return
    How to file ITR-1 with salary income, home loan, other incomes for FY 2020-21How to file ITR-1 with salary income, home loan, other incomes for FY 2020-21
    ITR Filing: Which income tax return form is applicable to you for FY 2020-21ITR Filing: Which income tax return form is applicable to you for FY 2020-21
    ITR filing of deceased person: Documents required, steps to be taken by legal heirsITR filing of deceased person: Documents required, steps to be taken by legal heirs
    Income tax return filing: Here's your step by step guideIncome tax return filing: Here's your step by step guide

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    After ITR filing

    Haven’t verified your ITR for last year? Income tax dept is offering one-time reliefHaven’t verified your ITR for last year? Income tax dept is offering one-time relief

    An individual is required to verify ITR within 120 days of filing it as per income tax law. If the ITR is not verified, then it will be termed as ‘Defective Return’.

    How to file income tax rectification request under section 154 on new e-filing portal?How to file income tax rectification request under section 154 on new e-filing portal?
    New income tax portal errors resulting in reduced tax refund amounts for manyNew income tax portal errors resulting in reduced tax refund amounts for many
    How to check ITR-V receipt status without logging into your e-filing accountHow to check ITR-V receipt status without logging into your e-filing account
    How to read income tax intimation notice under section 143(1)How to read income tax intimation notice under section 143(1)
    How to check income tax refund statusHow to check income tax refund status
    Haven't got income tax refund as yet? You may need to confirm it to the tax deptHaven't got income tax refund as yet? You may need to confirm it to the tax dept
    Income tax refund of this amount will not be paid by tax deptIncome tax refund of this amount will not be paid by tax dept
    How to respond to income tax notice onlineHow to respond to income tax notice online
    Not got your income tax refund yet? Here's how you can raise a re-issue requestNot got your income tax refund yet? Here's how you can raise a re-issue request
    ITR not processed by the tax department? Here's what you can doITR not processed by the tax department? Here's what you can do
    ITR processed? Here's how to request intimation notice u/s 143(1)ITR processed? Here's how to request intimation notice u/s 143(1)
    Got an income tax notice? Now you can check if it is real or notGot an income tax notice? Now you can check if it is real or not
    Made a mistake while filing ITR? Here's how you can correct itMade a mistake while filing ITR? Here's how you can correct it
    How to check income tax return statusHow to check income tax return status

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    ITR Filing News

    Fix ITR portal glitches or we will extend tax return filing deadline: Gujarat HC to income tax deptFix ITR portal glitches or we will extend tax return filing deadline: Gujarat HC to income tax dept

    The Gujarat HC refused to issue directions on Tuesday, but insisted on assurance from the “highest authority” that in case of difficulty faced by any assessee, the problem would be attended within 48 hours with whatever means the authorities have to adopt

    ITR filing, tax audit report deadlines extended by CBDTITR filing, tax audit report deadlines extended by CBDT
    No plan to extend ITR deadline: Revenue SecretaryNo plan to extend ITR deadline: Revenue Secretary
    Last day of ITR filing: Twitterati vent pain in filing ITR on new tax portalLast day of ITR filing: Twitterati vent pain in filing ITR on new tax portal
    Haven’t verified your ITR for last year? Income tax dept is offering one-time reliefHaven’t verified your ITR for last year? Income tax dept is offering one-time relief
    Why ITR filing deadline for FY 2020-21 may be extended beyond December 31, 2021 for individualsWhy ITR filing deadline for FY 2020-21 may be extended beyond December 31, 2021 for individuals
    New income tax portal errors resulting in reduced tax refund amounts for manyNew income tax portal errors resulting in reduced tax refund amounts for many
    ITR filing: New annual information statement accessible on e-filing portalITR filing: New annual information statement accessible on e-filing portal
    Form 26AS to include off-market trade, mutual funds dividends and other detailsForm 26AS to include off-market trade, mutual funds dividends and other details
    Income tax return filing deadline for FY 2020-21 extended to December 31, 2021Income tax return filing deadline for FY 2020-21 extended to December 31, 2021
    Seniors are NOT exempt from ITR filing this yearSeniors are NOT exempt from ITR filing this year
    How to file ITR-1 with salary income, home loan, other incomes for FY 2020-21How to file ITR-1 with salary income, home loan, other incomes for FY 2020-21
    Cost inflation index for FY 2021-22 used for LTCG calculation notified by income tax departmentCost inflation index for FY 2021-22 used for LTCG calculation notified by income tax department
    New income tax portal to be launched today: Faster income tax refund, other features and benefitsNew income tax portal to be launched today: Faster income tax refund, other features and benefits
    ITR filing deadline for FY21 extended by two months to September 30, 2021ITR filing deadline for FY21 extended by two months to September 30, 2021
    What is the last date to file ITR?What is the last date to file ITR?
    PAN-Aadhaar, Tax saving, Form 16, belated ITR filing deadlines extended againPAN-Aadhaar, Tax saving, Form 16, belated ITR filing deadlines extended again
    What happens if you miss the ITR filing deadlineWhat happens if you miss the ITR filing deadline

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    Tax queries

    • I am US citizen who has sold property in India. How to cut income tax and transfer money to US?

      The Income-tax Act provides various deductions and tax-exemptions to lower the income tax burden of capital gains tax Read Full Article

    • Can I claim HRA tax break on accommodation rented for 6 months?

      The exemption for House Rent Allowance is denied to employees if he or she occupies a house which is owned by them or there is no actual payment of rent. Read Full Article

    • Who does not have to report foreign assets while filing ITR?

      An assessee is required to disclose the foreign assets and liabilities held outside India under Schedule - FA of the ITR. Read Full Article

    • I invested in Franklin's Ultra-Short Bond MF which wound up. How do I show amount recieved in ITR?

      Irrespective of the scheme option (Growth or income distribution or IDCW), the taxation of the receipt of principal amount and interest upon winding up of the fund or scheme remains the same. Read Full Article

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    FAQ

    What is self-assessment tax?

    Self-assessment tax is the tax an individual has to pay before filing his income tax return. The self-assessment tax is calculated after considering TDS and advance tax.

    If excess tax has been deducted, how will it be refunded?

    To get the refund of excess tax deducted, an individual is required to file income tax return. The amount will be credited to the tax payer's pre-validated bank account.

    Can I claim HRA tax-exemption while filing income tax return?

    Yes, HRA tax-exemption can be claimed while filing income tax return.

    How long does it take for income tax refund to get credited in bank account?

    The income tax refund will be credited to bank account once your tax return has been processed by the tax department, provided the department accepts that the refund is due. You have to make sure that your bank account is pre-validated for timely credit of tax refund.

    How to file income tax return online?

    Income tax return can be filed online either via the tax department's e-filing portal: incometaxindiaefiling.gov.in. You can also file your tax return using private e-filing websites.

    Is income tax refund taxable?

    No, the income tax refund amount payable to you is not taxable. However, the interest on tax refund paid to you is taxable in your hands. It is taxable as per the income tax slab applicable to your income.

    What is standard deduction?

    Standard deduction is a flat amount that is available to a salaried/pensioner. The deduction is claimed from the salary or pension before arriving at the net salary/pension income taxable. For FY 2019-20, an individual can claim deduction of up to Rs 50,000.

    What is the last date to verify ITR?

    ITR must be verified within 120 days from the date of filing return either via electronic methods or by physically sending ITR-V to the income tax department.

    How to e-verify income tax return?

    Income tax return can be electronically verified using any of these options: Aadhaar-based OTP, EVC via Net-banking, EVC via bank account, EVC via demat account and EVC via bank ATM.

    Do I need PAN to file income tax return?

    From September 1, 2019 onwards, the income tax return can be filed either using PAN or Aadhaar, provided PAN is linked with Aadhaar.

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