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Filing ITR online? Here’s a Quick Step-by-step Guide

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filing itr online

Online ITR filing is easy if methodical. Just keep all your documents and rough work ready. This article provides contents of income tax guide for online filing of ITR returns. Individuals and entities can follow the stepwise instructions of the guide and complete the task of filing IT returns within a matter of minutes.

Income tax guide: Creating your income tax filing account

In the beginning, the income tax guide portal will tell you to create an account in the IT portal if you already don’t have one. This is easy, and the investors need not seek many directions from the income tax guide.

People who are absolutely new to online processes may need to follow the procedures step by step, but once they have followed the all the steps, they will not have trouble in filing their income tax online from next time.

For creating your own IT filing account, you need to log on at the official website of the income tax department of India. As soon as you log on to the portal on the right-hand side, you will be able to see directions for registering your account.

Income tax guide step one: The registration/login process on the IT portal

Once you click on the tab that says register yourself, you will be guided systematically towards completion. The income tax guide lays down the steps you need to follow to register yourself on the portal.

Selection of user type: an investor would first need to specify his/her type, whether individual, HUF, other than individual/HUF, external agency, chartered accountant, tax deductor /collector, third-party software utility developer.

After specifying the user type say ‘Individual’, you need to click on the continue tab and thereupon the registration form for the individual page will open up

Filling up the registration form: here you would need to provide details Pan, name (surname, middle name, first name), date of birth and residential status (resident/ non-resident)

Verification of registration: in this step of the income tax guide, the individual needs to verify his/her registration by the mentioned process. The individual would need to create an account id and password and save these for future log in

Completion of registration: in the last step of the registration process in the income tax guide, the individual’s registration will be complete, and registration completion notification will appear on the screen. After that individual can log on into his/her account any time for filing the income tax return.

Income tax guide step 2: Online preparation and submission of ITR

Step 2 of the income tax guide lays down the stepwise procedure of preparing and submitting the income tax return form. Here it should be noted that only ITR1 and ITR 4S can be filed online.

Once you are logged on to your own account, you will see the dashboard; there you can click on the option ‘Filing of income tax return’. If you want to view e returns filed earlier, then you can click on the tab ‘view returns/form’.

Follow the income tax guide stepwise process on the filing of the income tax return as mentioned below.

Once you click on the filing of income tax return, you would need to specify assessment year, ITR form name and submission mode.

The assessment year and financial year both start from April 1 and end on March 31. The assessment year is always one more than the financial year. For example, if you are filing the income tax return for the financial year 2017-18, the assessment year will be 2018-19.

Suppose you choose form ITR 1 then you would need to fill in all the columns. Some data will already be present. Tax filers need to provide PAN number, and essential personal details like Aadhaar and data is imported from these in the form.

The process is sequential, and income tax guide leads you through completion. If you require tax details to be filed then access form 26 AS by clicking on ‘my account’.

The next steps of the income tax guide will tell you to upload your digital signature if applicable. Before uploading your digital signature, please ensure that the digital signature has been registered with e filing. Complete all the filling work of the form.

Several times filing columns can pose a problem regarding what amount to fill. Refer to the income tax guide for filing the columns whenever in doubt.

In the final steps of the income tax guide, you will be asked to submit you’re filled in form by clicking the submit button. If you don’t want to complete the entire form filling process in one go, then you can always save your form and return to it later. You would also need to verify your income tax filing.

You can verify just after completion of filing, or you can also verify later. Once you have completed the last step of form filing as per the income tax guide of verifying your form filing you are through with the filing work, and you can click on the save option and save the form filed by you.

Income tax guide steps would caution you to check the figures the form returns you with your personal calculations before you choose to verify. After your form filling is verified making changes will be a tedious process.

So income tax guide advises you to fill correctly in the first go. If you are not sure regarding any data, then save your form, make sure and then fill later.

After completion of the verification process, email is sent by the income tax department which has a copy of the verified form attached. Save this form for future reference. You can also access past income tax filing from your account on the income tax portal.

If taxpayers sometimes would need to change data in verified forms of past years, then that is also possible. Follow the simple steps of the income tax guide and make online tax filing a simple task.

Income tax guide comprises several sections on how to fill certain columns. For example, if you are filling ITR 1 form, then you can refer income tax guide on how to file for tax exemptions and deductions under the various sections of the IT Act.

Income tax guide FAQs

Income tax guide dedicates a long section of FAQS as tax filing can be confusing for taxpayers who are filing their income tax returns on their own for the first time. Income tax guide is a do it yourself step by step procedure for individuals who want to file their own income tax returns.

Income tax guide FAQ 1: What is income tax return and who should file an income tax return?

An income tax return is income and tax details paid by any entity. All entities with taxable income need to file an income tax return.

Income tax guide FAQ2: What is ITR 1 and who should file ITR1

ITR 1 is income tax return form 1. ITR 1 is meant for individuals who have salaried incomes. Salaried individuals should save all documents related to TDS payments, medical insurance premium and bill payment and payments made for investment in tax benefit schemes. ITR 1 form is also called Sahaj form which in English means easy or simple.

Income tax guide FAQ 3: What is form 26 AS?

The form 26 AS is a consolidated form of all tax deducted by various entities at the source. Several taxes are deducted at source by deductors who can be banks, employers, tenant. Form 26 AS is a consolidated statement of all deducted taxes and is issued under section 203AA of the income tax act, 1961.

Individual taxpayers can access Form 26 by logging on to their accounts in the IT department portal and clicking on my account tab. Form 26 AS provides comprehensive data at one place on how much tax has been deducted and by whom. It saves the tax filer a lot of compilation work.

The individual taxpayer can fill in most cells of the ITR 1 form with the help of data provided in Form 26 AS.

Income tax guide FAQ 4: what is form 16 and who issue it?

Form 16 needs to be issued by all entities who deduct tax at source. The entity can be a bank or employer. For example in the case of salaried individuals, the employer may deduct tax at source from the individual’s income.

For individuals who have fixed deposit accounts, a certain percentage of interest income may be deducted by banks. Banks also issue form 16 to account holder for tax deducted at source.

Form 16 has two parts, part A and part B. IT is mandatory for all deductors to issue form 16 to individuals or entities from whom tax has been deducted at source.

Income tax guide FAQ 5: What tax deductions and exemptions can individual taxpayers claim?

The income tax act 1961 sections have provisions for tax deductions and incomes applicable for individual taxpayers. Sections 80C to 80 U lay down several provisions related to tax deductions and tax exemptions. Individual taxpayers are eligible for several deductions and exemptions on tax, the major tax benefits include:

  • Deduction on HRA/rent paid
  • Deduction on health insurance premium (section 80 D)
  • Deduction on listed investment schemes (section 80 C and 10 D)
  • Deduction on PF investment and life insurance premium (section 80 C)
  • Deduction on LTA

Income tax guide FAQ 6: What are the other sources of income?

Besides income from salary, an individual taxpayer may have several other sources of income. While filing income tax returns, individuals must furnish details of income from all sources. The several sources of income include:

  • Income from salary
  • Income from fixed deposits
  • Saving deposit interest
  • Income from investment schemes
  • Income from property
  • Income from self-occupation

Income tax guide FAQ 7: What is tax exemption, tax deduction, tax rebate

These are all the tax benefits applicable to various conditions. Tax exempted items are items that generate income, but the income is not taxed. Tax exempted income items include investment in ELSS, PPF, girl child scheme, pension funds, and several more items. Tax deductible items are essentially invested amounts in listed schemes.

The invested amount for the whole year can be deducted from the taxable income base. Reduction of taxable income base reduces the tax. Tax rebates are applicable to specific conditions like for income under Rs 5 lakh; the rebate is up to Rs 5000.

Income tax guide FAQ 8: What is the taxable income base?

Tax is deducted on the total income and not only from the salary income. Taxable income slab is the total of all income less the deductions. The slab rates are different for different income slabs. If income is less than Rs 2.5 lakhs per year, then no tax is levied on the income. The limit is more for senior citizens and super senior citizens.

Income tax guide FAQ 9: What is the main advantage of ITR 1?

The main advantage of ITR -1 is that the tax filer is automatically supplied with several data that is used for income tax calculation. The software fetches these data from the Pan linkages and forms 26 AS.

However, income tax guide advice individuals to always cross-check data with their own compiled documents and tax sheet.

Income tax guide FAQ 10: What is income tax refund?

Individuals pay several taxes all through the year. These are mainly the tax deducted at source. If in ITR 1 the total tax already paid is more than what is applicable under the income tax slab then the ITR 1 form will show refund amount.

If on the other hand, the income tax payment required under the specific income slab is more than what has been already paid, then individual will have to pay the difference amount.

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PM Modi was Seen Plogging at Mamallapuram Beach and He Also Requests Everyone to Keep Public Places Clean

Priya Verma

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PM Modi was Seen Plogging at Mamallapuram Beach

Prime Minister Narendra Modi is a name that needs no introduction. He is a man of words, what he said, he does. As we know he is so strict regarding preserving Mother Nature and preserving our environment. That’s why he encourages everyone to avoid the use of plastics in daily life and he is the man behind launching Swacch Bharat Mission in India to encourage everyone to make India neat and clean. Recently, we also him on a cleaning spree at Tamil Nadu’s beach, Mamallapuram ahead of meeting with Chinese President, Xi Jinping. Most of the individuals have appraised Modi for this act while some are making fun of him by saying, cleaning plastic with plastic and some other comments.

PM Modi also releases a video on Twitter while cleaning the trash-

Even PM Modi also released the video on Twitter where he could be seen picking up plastic garbage from the beach and other kinds of waste from while doing his morning walk which got viral on social media. He was wearing a black kurta and dhoti, walking barefoot and picking up litter very nicely.

Modi on Twitter Said

On his Twitter profile, he mentioned, “Plogging at a beach in Mamallapuram this morning. It lasted for over 30 minutes. Also handed over my ‘collection’ to Jeyaraj, who is a part of the hotel staff? Let us ensure our public places are clean and tidy! Let us also ensure we remain fit and healthy.”

Seeing his Post on Twitter, fisherman K. Vinod who belongs to the Ocean awareness group, responded, “When the Prime Minister can do it, why can’t ordinary people too.

One of the Mamallapuram residents appraises Modi’s Act

Appraising the act, Mamallapuram resident, Aine Edwards had also posted several photographs where she says how clean the town and beach looks after the summit. “It just shows that the town has the potential to be clean. The humans, who cleaned it up so beautifully, did a good job. But can they keep it that way?” she asked.

Actor Prakash Raj criticized his exercise

Some of them also criticized this act of Modi, Actor Prakash Raj on Twitter said,

Other people said that the beach was already clean since it’s a tourist place. Modi is just trying to raise his name that’s it. For example Kancheepuram District Collector, P. Ponniah said the plastic must have washed up onto the beach. “Since the beach is visited by tourists, it is usually kept clean. We had also cleaned up the beach before and during the summit,” he said. Here, he means to criticize his exercise.

As PM Modi has arranged an informal summit with Chinese President, Xi Jinping, he also discussed with him lots of other areas of concern and issues that are affecting our environment and nature. They both met at Mamallapuram and held the second round of talks at Taj Fishermen’s Cove in Kovalam.

This year while giving a speech on the occasion of Independence Day, PM Modi had announced a campaign to make the country free by not using any kind of plastic. Now, we need to wait and watch how many of us will follow what he said to keep our country clean.

Many people are telling that he is pretending to clean the beach. For all those haters, Team GudStory wants to give a simple msg which is the same in the following tweet..

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Finance Ministry Decides To Shut Down Two Telecoms BSNL and MTNL Putting The Lives of Over 2 lakh Jobs at Stake

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Finance Ministry Decides To Shut Down Two Telecoms BSNL and MTNL

The two of the most prominent broadband companies, Bharat Sanchar Nigam Limited (BSNL) and Mahanagar Telephone Nigam Limited (MTNL) are going to be shut down as decided by the Finance Ministry. Well, this news has made many people sad and disheartened. The reason behind this is their love and attachment towards these service operators they have for decades that they can’ afford to forget. As per the reports by the Financial Express, the two public sector undertakings are now finding difficult to sustain amid the competition between private companies that have taken over them. This is why the government has finally decided to shut them down permanently which will leave people working here in the lurch.

The report also tells that the ministry has rejected the proposal kept by the two telcos of pumping in a massive amount of Rs. 74,000 crore to revive them. The ministry has told that the total expense in closing both the companies would be less than Rs. 95,000 crore including the payment to their 1.65 lakh employees for the voluntary retirement scheme and its debt repayment.

While the proposal to shut down these two companies might be very surprising for many but for some it was obvious as we all know how hard it was for BSNL to survive between too many competing companies in the private sector. BSNL has been struggling for very long and even its employees were also not paid for a long time due to their incapability. Last month, it was reported that BSNL had asked 50% of its employees to resign at their will. Even, MTNL is also making defaults for not paying their employees on time from some months.

Both of these companies have a huge employee base. BSNL has 1.76 lakh employees across India while MTNL has around 22,000 employees and the total monthly salary expenses of BSNL are in the range of Rs. 750-850 crore while that of MTNL is around Rs. 160 crores which they are not able to pay right now.

As soon as this news came out, people became emotional and they start outraging their comments on Twitter for the companies and their attachment towards them.

Have a look at some of the tweets below:

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6 Reasons That are Responsible for Giving Indore The Title of Cleanest City of India

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6 Reasons Why Indore Won The Title of Cleanest City of India

You might be knowing that the city Indore has been given the tag of the cleanest city of India. There are multiple reasons that have made this city clean and beautiful. Back to back, three times the city has been given the tag for the cleanest city. I will say not only the government’s strict regulations but also the combined efforts of the citizens have made this city to get this title. All have done a fabulous job to make the city clean. So, are you curious to know which reasons make this city the cleanest and beautiful one? Let’s talk about it

Some of the reasons that make Indore the ‘cleanest’ city of India:

1. They keep separate dustbins to hold trash

They keep separate dustbins to hold trash

via; Twitter

Did you know garbage bins in Indore has been replaced by dustbins? Almost in every locality and area, you will get to see proper dustbins. Not only this, they have two separate dustbins to carry the trash. One is for dry waste and another one is for wet waste.

2. Government distributed dustbins

Government distributed dustbins

via: Twitter

Such a wonderful initiative was taken by the government to gift the dustbins to the residents of the city by visiting their homes. This way they are motivating people to use dustbins and help them in saving the environment by not littering here and there.

Also read: Top 5 Things To Do in Indore

3. Musical trucks to spreads the Swacchta awareness among everyone

Musical trucks to spreads the Swacchta awareness among everyone

via: Twitter

To spread awareness for cleanliness, the government has also made use of the trucks which play music like Swachh Bharat Ka irada song and hatrick song.

4. Residents were given awards

The residents who contributed to making the city clean and beautiful were also given timely rewards and recognition by the government where they share their stories about how they did this and try to inspire everyone by their great deeds.

Also read: 10 Best Affordable Cities to Live in India

5. Giving awareness about composting

Giving awareness about composting

via: Twitter

People were also given awareness about how to compost the waste and in what way. How the whole system works and how the waste will be composted by playing ads on radio or newspaper.

6. Children were made ambassadors of Swachh Bharat

Many small children were also made brand ambassadors of cleanliness mission, Swachh Bharat for Indore. The songs were also recorded by the children regarding the garbage collection and were played so that other people would get to know about this. Even they use rap to make it more attractive and attention-seeking.

Not only these measures have made the city beautiful and clean, but also the government efforts and some strict policies related to garbage collection have made people attentive. Those who do not pay attention to it were also levied a hefty fine and those who followed were given awards. This is due to their combined efforts, Indore was ranked the cleanest city in India, according to Swachh Survekshan which is an initiative of the Urban Development Ministry.

So, by following these ways we can also make our city clean and beautiful like Indore. Let’s take a pledge that we will not litter and try to save our environment and mother earth.

Also read: These 11 Railway Stations Look No Less Than Airport With Beautiful Wall Designs And Paintings

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