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Income Tax Return Filing

Income Tax Return Filing



Filing of Income Tax Return is the process of declaring one’s income and income tax paid thereon by the assessee to the assessing officer. Income tax return contains details of income earned by an assessee from different sources, details of taxes paid or deducted such as Advance Tax, TDS or TCS and details of income tax refundable to the assessee by the department if any.

Procedure to file Income Tax Return

  • Calculate the income earned in the relevant financial year from all the sources.
  • Calculate the tax payable on the earned income after deducting any tax credits such as TDS, TCS or Advance Tax.
  • Any tax payable should be paid before filing the return of income.
  • Relevant ITR should be filled with all the necessary details.
  • Submit the duly filled ITR to the concerned Assessign Officer.

Manual Filing

Hardcopy of ITR should be filled and handed over personally to the concerned Assessing Officer. Assessing Officer, on receiving the ITR gives an acknowledgement to the Assessee which serves as a proof that ITR has been filed.

  • Assessee has to first login in website.
  • Assessee has to then file the relevant ITR.
  • Duly filled ITR has to be submitted electronically.
  • An e-acknowledgement is generated which can be saved by the assessee for future use.
  • Excel utility is also made available in the above website, which can be downloaded filled offline and uploaded later in the website.


Who should file Income Tax Return?

If the gross total income of a person exceeds the minimum amount of income not chargeable to tax, such person is required to furnish his/her return of income.

Income earned in which period is to be disclosed in tax return?

Income earned from 1-Apr to 31-Mar of a financial year is made taxable in the year following the financial year called as Assessment Year. Hence, income earned in previous year should be disclosed in the return to be filed in the respective assessment year.

What is Form-16?

Form-16 is made available online by the department. Form-16 contains particulars of Income earned and tax deducted thereon on such income according to the data received by the department through the TDS returns filed by the deductors.

What is Form-26AS?

Form 26AS is a statement of Tax credits of an assessee. It contains details of all TDS, TCS and Advance Tax made.

For whom is e-filing of tax return mandatory?

The department prescribes type of assessees who are required to mandatorily file their return of income electronically. The list includes

  • Assessees having total income more than Rs.5 lakhs, assessees having refund claims other than those individuals who are of age 80 or above.
  • Every company is required to furnish electronic return of income along with digital signature.
  • Assessees who are subject to tax audit.
  • Resident assessee having any assets or signing authority outside India etc.

Is it necessary to file tax return when one does not have positive income?

If you have sustained a loss in the financial year, which you propose to carry forward to the subsequent year for adjustment against subsequent year(s) positive income, you must make a claim of loss by filing your return before the due date.

Can income tax return be filed after due date?

Yes. Income tax return can be filed after due date. Tax returns are accepted for voluntary filing for one year after the completion of relevant assessment year. Also, Assessing Officers may order assessees to file income tax returns beyond the acceptable time frame for assessing their income in certain cases.

What is the benefit of filing Income tax return within due date?

Interest u/s 234A on tax payable is levied by the department from the date after the last date for filing of return of income. Hence, filing of tax return within the due date saves the assessee from interest payable u/s234A.

What is the last date for filing of Income Tax Return?

Sr. No. Status of the taxpayer Due date
1 Any company other than a company who is required to furnish a report in Form No. 3CEB under section 92E (i.e. other than covered in 2 below) September 30 of the assessment year
2 Any person (may be corporate/non-corporate) who is required to furnish a report in Form No. 3CEB under section 92E November 30 of the assessment year
3 Any person (other than a company) whose accounts are to be audited under the Income-tax Law or under any other law September 30 of the assessment year
4 A working partner of a firm whose accounts are required to be audited under this Act or under any other law. September 30 of the assessment year
5 Any other assessee July 31 of the assessment year. The due date of filing the return of income for the financial year 2014-15 has been extended to 31st August 2015

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