How to do e-Filing of Returns for free? | Free e-filing of tax return

e-Filing of Returns:

(1) What is E-Filing?

•The process of electronically filing Income tax returns through the internet is known as e-filing.
•It is mandatory for companies and Firms requiring statutory audit u/s 44AB to submit the Income tax returns electronically for AY 2007-08 onwards.
•E-filing is possible with or without digital signature.

(2) Types of E-Filing

•There are three ways to file returns electronically.
•Option 1: Use digital signature, in which case no further action is required.
•Option 2: File without digital signature, in which case the duly signed ITR-V form is to be submitted to CPC Bengaluru using Ordinary Post or Speed Post within 120 days of transmitting the data electronically. This completes the Return filing process for non-digitally signed returns.
•Option 3: File through an e-return intermediary who would do eFiling and also assist the Assessee file the ITR -V Form.

Register your pan number on income tax portal, create login and download relevant ITR forms as needed- Prepare your return- Generate XML and upload the same to the income tax website either using digital signature or withour DSC

For digitally signed returns No Change

Paper Returns -Two step Procedure After uploading data -instead of filing paper return assessee to file verification form called ITR-V (Combination of Acknowledgement of e-return and verification

6) e-Filing Process – At a glance

•Select appropriate type of Return Form .

•Download Return Preparation Software for selected Return Form.

•Fill your return offline and generate a XML file.

•Register and create a user id/password .

•Login and click on relevant form on left panel and select “Submit Return”.

•Browse to select XML file and click on “Upload” button .

•On successful upload acknowledgement details would be displayed. Click on “Print” to generate printout of acknowledgement/ITR-V Form.

•Incase the return is digitally signed , on generation of “Acknowledgement” the Return Filing process gets completed. Assessee may take a printout of the Acknowledgement for his record.

•Incase the return is not digitally signed , on successful uploading of e-Return, the ITR-V Form would be generated which needs to be printed by the tax payers. This is an acknowledgement cum verification form. The tax payer has to fill-up the verification part and verify the same. A duly verified ITR-V form should be submitted to CPC Benagaluru using Ordinary Post or Speed Post within 120 days of transmitting the data electronically. This completes the Return filing process for non-digitally signed Returns.

“Income Tax Department – CPC, Post Bag No – 1, Electronic City Post Office, Bengaluru – 560100, Karnataka, ” BY ORDINARY POST OR SPEED POST ONLY