Time to file income tax return ends today: Here are steps to file ITR after due date
New Delhi, August 5: Still worried to miss the deadline for filing income tax returns this year? Then, stop worrying about it. Here’s the step-by-step guide for filing the belated income Tax Return (ITR). The extended deadline for the Financial Year 2016-17 is today, August 5, 2017. The only difference is that, instead of filing the ITR under section 139(1), it would be filed under section 139(4).
Make sure you check the following facts before filing the belated tax returns:
a) Check out which form would be applicable for the assessment year for which you would file the belated return. The correct form would depend on the sources of income. It is because the Income Tax Department usually notifies new ITR forms for every assessment.
b) The last date extended to file the belated ITR is until 31st March 2018.
c) If the tax remains due (after the deduction of advance tax and TDS), you should pay an interest of 1% every month. Abhishek Soni, CEO of Tax2win.in said that ‘even if you intend to file ITR after the due date, the interest could still be avoided if the tax is paid before the due date.’
ITR could be filed in two ways – by using the online method or by downloading the format in excel or java, and then filling the details and uploading on the website. Below is the step-by-step guide to
Below given is the step-by-step guide to file income tax returns online. This method could only be used by tax payers who are eligible to file ITR using form 1 or 4.
1. Open the website: www.incometaxindiaefilling.gov.in
2. Click on the ‘Login Here’ button and enter the details. It would ask details such as User ID (PAN), password, date of birth and captcha code. Then, click submit and you would be logged into your account.
3. Click the ‘e-file’ tab and select the option ‘Prepare and submit ITR online’.
4. Be careful while selecting the ‘form’ and assessment year, as you would be filing ITR after the deadline was expired.
5. After entering the details, you would be re-directed to the ITR form page.
6. While filling the ITR form, please select the option ‘Return filed under section..’. Or else, the tax return would not be accepted. Then, select the option, ‘After Due date 139(4)’.
7. Please check the information filled is correct. You could check it by selecting the option ‘Preview and Submit’.
8. After it is submitted, please verify your ITR. It would not be considered valid unless it is verified by you.
9. There are 6 ways to verify your ITR. You could verify by using Aadhar, Net-banking or OTP method. You could send the acknowledgement copy, called as ITR-V, to CPC Bengaluru.
10. After the Income Tax Department receives your verified ITR, it would be processed. Once the ITR is processed, you would be notified it through SMS and E-mail.