Tuesday, November 27, 2018

Individual Tax Return Online: Filing Income Tax Online Through Easy Steps

The Income Tax Act of 1961 states that any individual, whose total income in the previous year has not exceeded the maximum amount of exemption, will not be chargeable of tax however, they should file their income tax returns or ITR. 

Filing individual tax return online is known as e-filing of return. You can either seek the help of a professional or you could file the returns all by yourself at the comfort of your home.

E-filing or the electronic filing system refers to the submission of income tax returns online. The filing of the income tax returns includes two different ways where one can either go to the Income Tax department or submit the necessary files or documents or you could do that easily through a few online steps from your home. 

Due to the recent development of technology the online procedure of filing income tax returns has been gaining a lot more popularity. Compared to the offline filing of income tax returns, individual tax return online does not contain any sort of tedious paperwork which this method is why is preferable to the majority of the people nowadays.

Steps on Filing Individual Tax Return Online

Income tax filing requires certain official documents without which the process would not be complete. The required documents are PAN card, Aadhar Identity card, bank account details and your investment details. 
When you are filing your individual tax return online you will be given an online form in PDF form which you have to download and put in all the information that is required. 

The form will also demand your salary details. Enter all the necessary information which will include the investment details along with the deductions which are to be claimed. 

If you have a non-salary income, then you could mention freelance income or interest income. The last step includes you to put in all the bank account details that are necessary.

Advantages of Filing Individual Tax Return Online

E-filing is preferred by the majority of the people nowadays because of the advantages it possesses. The taxpayers tend to avoid the tedious paperwork that is involved with the offline processes of filing individual tax return online

1. Fast Processing: Filing your income tax returns online makes the Income Tax department acknowledge it more promptly. A major benefit one can get from e-filing is the fact that one can easily get their refunds in a faster manner than when one files their tax returns offline.

2. Convenience: The e-filing option is available 24/7 which makes it easier for anyone to file their individual tax return online from any device. It is way more convenient than of an option than offline tax return filing.

3. Accuracy: When you proceed with the process of e-filing you are provided with the electronic connectivity along with the validations which make it seamless. There is also very little room for error since the software required for the e-filing process makes sure that you make the least amount of errors.

4. Confidentiality: When you file your income tax returns offline there is a high chance that your information might get leaked but filing your tax returns online makes sure that you are safe and protected through the secured portals.

5. Convenient to Use: The online system of filing your tax returns provides you with all the steps that are required for you to fill, which makes it easier to file your individual tax returns online.


After reading this article you must have understood that e-filing of income tax return is very necessary if you want to show your accurate income to the income tax department and it doesn’t matter if you are not earning more than required amount of taxable income, but you should file your return every year. 

The major benefits that are provided by the online tax filing are the reason that the majority of the taxpayers are following this process more frequently.

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