Guidelines to filing IT Return online using ITR-I and ITR-V in India

Wow… For the first time, I filed my own IT Return. After doing it, yes it seems to be very very simple. However, till I had actually done it, it seemed pretty complex to me… There was no set guidelines on how to do it. There are many websites that take money to do it for you – so obviously no one tells you how to do it yourself. But thank the internet and the open source inspiration – now you can file your own IT return as I have done (which hopefully works).

Disclaimer: I’m no tax consultant. So I bear no liability should this not be a correct process and you be raided by the IT authorities. In case, this is wrong, please do bring to my notice so that I might file the correct IT Return.

Just a brief introduction to me: This section is important because for someone else, the method described below might not be true… I’m employed with my salary being my only source of income. The interest that the Bank pays me for keeping this salary is the other. I pay rents and have a few perquisites. I get these details from the Form 16 given to me by my employer.

1. Go to: https://incometaxindiaefiling.gov.in/portal/login.do


2. Create account using your PAN number (below the Login button, there is a link for "New User Registration".


3. Download ITR-1 - it is a zip file. Extract it to some known folder - this might be required later too
   • If you are filing return for the income earned in year 2010-11, the corresponding. AY is 2011-12. Ensure you download the correct ITR-I form. The AY is mentioned at the top.


4. When you open the file, it will ask you to enable macros. Go ahead.


5. Fill up form. The fields marked * are mandatory.
   • You will need form 16 to fill the form. It is pretty simple if you have those details.
   
   
   • In case you do not know your WARD/CIRCLE, you can leave it blank. When you upload the XML, this is automatically filled using you PAN Card information. In case you need to confirm this, you can visit: https://incometaxindiaefiling.gov.in/portal/common.do?screen=jurisdiction and enter your PAN number.
   
   
   • When the file is complete - click on "Calculate Tax". This is very important. This step calculates the tax that you need to pay. In case, the TDS is less, it calculates extra tax payable.


6. Fill in the Bank Account Number. The MICR is the 9-digit numerical code written at the bottom of your cheque.


7. Then click "Generate XML"


8. Save that XML to a known folder.


9. Log into your account (created in Step 2). Go to Submit.


10. Since you do not have digital signature, leave the checkbox empty.


11. Upload the XML.


12. The website will generate an ITR-V form. Download it. it is again a ZIP file which needs to be saved for future reference.


13. The ITR-V is a pdf. the password to the pdf is {PAN number in small letters}{birthdate in dd/mm/yyyy}. I've not received the ITR-V on email as the website mentioned I would.


14. Print the ITR-V. Sign at the appropriate place (at the bottom). Do not make any other alterations to this form.


15. Send the same by Speed Post to: CPC, Post Bag No - 1, Electronic City Post Office, Bangalore – 560100. DO NOT SEND BY COURIER

Well, that is it. Hoping my IT Return is successful.

#Edit-1: I received the ITR-V form by mail two days after e-filing.
#Edit-2: It is important to add any interest you might have received on your savings bank account or Fixed Deposits you have as "Other Income".
#Edit-3: So your Form-16 doesn't include your Interest Income. How do you pay the additional tax that you owe? Visit https://onlineservices.tin.nsdl.com/etaxnew/tdsnontds.jsp --> Choose Challan 280 --> Tax Applicable 0021 --> Fill in details --> Type of Payment: 300