Income Tax Returns: 3-Steps to e-File Your Returns in Less Than 30 Minutes

For those who didn’t file their Income Tax Return for FY 2016-17 till now, need not panic and just go through a 3-Step approach to e-File their ITR AY2017-18. Also it is important to link your Aadhaar ID with PAN Card before filing your Income Tax Return now. Let us take you through the steps.

1. Get your Government IDs and Financial Papers

The first step towards e-Filing your ITR is collecting your important government IDs and financial documents at one place viz:

1.1 PAN card

1.2 Aadhaar card

1.3 Form 16

1.4 Bank Account details

1.5 Investment details like LIC, Term Plans, ULIPs, PPF, NSC, NPS, etc

1.6 Health Insurance or any other Medical Expenditure incurred on self/spouse/children/dependent parents

1.7 Tuition Fee Receipts or Tuition Fee certificate from school for upto 2 Children

1.8 Home Loan Details and Loan Certificates from Bank viz Interest certificate and Pre-Payment certificate (if any)

1.9 House Rent Receipts to claim HRA

1.10 Donation Receipts

2) Register on Income Tax Departments e-filing website and Fill the Form

Once you have all the documents with you and if you can follow step-by-step guidelines with ease then register yourself to Income Tax Departments e-filing website and select whether you are Individual or an Individual/HUF to know which form you need to fill. However if you need someone who can help you out in e-filing your return then you can take services of third party e-filing apps and portals or CAs who will do the job for you with ease in lieu of professional fees.

3) Upload Digital Signature Certificate or Download ITR V

Whatever method you choose to file your Income Tax Return you need to upload your Digital Signature Certificate on the e-filing websites. However in case you do not have a DSC as yet then you can e-file your return and you’ll get back ITR-V form that you need to download, take a print out, manually sign it with blue ink pen and send it back within 120 days to the Income Tax Department’s Bangalore Office (address of the same is mentioned on the portal.