The process of submitting a form carrying the income, payable taxes, and other relevant information of the registered taxpayers to the income tax department is called ITR or Income tax return filing. According to the income tax department, ITR filing is a mandatory procedure for all Indian citizens earning a specific income (i.e. minimum exemption limit) annually. Individuals earning less than the prescribed income can freely file ITR. The income tax department has the right to invite penalties on individuals who fail to pay tax within a specified period.
What is the income tax return website?
The ITR websites are designed to provide an easy and convenient way for taxpayers to file their taxes. Have a look at the online ITR filing procedure:
- Open the e-filing portal, and log in by entering user ID, password, and other details of an individual.
- Open the ‘e-File’ menu
- Click at the link ‘Income Tax Return’
- Fill in all the details and click on the ‘Continue’ tab
- In the Online ITR form, fill all the mandatory fields
- ‘Taxes Paid and Verification’ tab gets opened. Choose the verification option
- Verify the entered data and submit the ITR.
- E-verification of the taxpayer can be done by entering the EVC or OTP within 60 seconds. The submitted ITR should be verified by using the e-Verify Return option in the ‘My Account’ tab. It can also be submitted by sending signed ITR-V to CPC.
Requirements for ITR-V
Before moving further, it is necessary to know about some general terms such as “ITR-V”.
- A taxpayer has received acknowledgment in the form of ITR-V once they filed an ITR form for a fiscal year.
- The ITR-V consists of an acknowledgment number required for the e-verification service.
- An authorized signatory should not file the ITR.
Types of ITR form
Usually, the ITR forms are divisible into 4 types based on the income of the professional and their extra earnings through profit in businesses. Let’s have a look at the ITR form types:
- ITR- 1: This form will be filed by an individual earning up to 50 lacs from different sources including salary, property, etc.
- ITR-2: It is mandatory for the professionals earning no income from profits from any profession to file an ITR-2 form.
- ITR-3: HUFs or Individuals who are gaining income from a business should file this form.
- ITR-4: This form should be filed by HUFs, resident individuals, and companies (excluding LLP) earning up to 50 lacs.
Top 5 Websites for ITR Filing
The ITR filing process is no more a complicated task as you can do it easily sitting in your home. This became possible with the introduction of e-filing portals. Based on the reliability of services provided, the top 5 online tax return filing websites in India are mentioned below:
- Official Website of Income Tax Department
- TaxSmile and
- H&R Block
Official Website of Income Tax India
On the Income Tax Department’s official website, you can easily e-file your ITR. Even if you have generated your ITR at other e-filing portals, it should be mandatory to upload all of them to this website.
- At this Indian Government website, you can get an option to prepare ITR returns online (ITR-1 and ITR-4).
- The portal also provides Excel and Java utility for all the ITR forms.
- You can view and check your Form 26AS on the website
- Here, you can check your previously filed ITRs, send rectification requests, and perform other functions as well.
- You will e-file your taxes without spending any amount at this portal.
Income tax return filing done through any other website other than the official website of the Income-tax department is referred to as a third-party transaction. ClearTax is one such website used for e-filing of ITR.
- Till now, approximately 50 lakh people have filed their ITR through this website.
- It is an easy-to-use interface designed to provide an e-filing facility to salaried professionals and business persons as well earning a specified income.
- Here, professionals provide necessary assistance to the users in preparing their tax returns. They serve the customers via phone and email.
- The facility of information auto-importing from Form 16/Form 26AS is provided at the website of ClearTax
MyITReturn is one of the best user-friendly interfaces developed for ITR filing.
- The website is used by around 25 lakh users for online ITR filing.
- It helps the taxpayer to prepare their online ITR easily and conveniently
- Android and iOS users can also pay their tax returns using the mobile app of MyITReturn.
- Besides English and Hindi, you will also get options to fill the form using Marathi, Gujarati, Tamil, Kannada, Malayalam, Bengali, Telugu, and Punjabi languages.
- The tax e-filing is a free-of-cost facility for a salaried professional earning less than 2.50 lakhs/ annum. For high-income employees, the plan starts from Rs.199 excluding taxes.
- You can directly upload your ITRs from MyITReturn to the portal of Income Tax because it is a registered e-Return Intermediary with the Department of Income Tax.
If you find any issue in filing or preparing your ITR or calculating your taxes, you can contact the dedicated support team of MyITReturn.
Now you can become your own CA and file your return using TaxSmile and other online e-filing tax return websites.
- TaxSmile is a dedicated portal to prepare your ITR in Q&A format.
- If you find the problem in filing your form, you can take the help of professionals available for you 24*7. It is a 100% non-chargeable facility.
- Here, the taxpayers having income less than Rs.5 lakhs get free ITR preparation and filing facility. The high salaried professionals should purchase a plan of Rs.249 for the e-filing process.
- As this is a registered e-Return Intermediary portal, you can fill your ITR without logging into the official website of the Income Tax Department.
- The return preparation facility available on the portal is very easy and simple.
So, you can also try this website for e-filing of your income tax return.
This is one of the largest tax-filing companies serving more than 6lakh users.
- It has a record of filing around 80-90 crore returns on an annual basis.
- At this portal, you can file your return easily.
- It has the facility of auto-reading Form 16 to check the income-related fields of the individual.
- The free package of tax return filing provides call support and a live-chat facility.
- The paid plans begin from Rs.999 in which an expert will dedicatedly work for you. You have to submit the required documents to the team for the e-filing process.
Related Articles: How to Download Income Tax Return
ITR filing is a mandatory process for all salaried professionals and business persons earning high income. The ITR form contains all necessary financial information of the users from April 1st to March 31st for a specific fiscal year. Now, you can file the ITR online at any reliable website providing an e-filing facility. It not only saves your money but also reduces your burden of waiting in a queue for the offline ITR filing process. Online filing of income tax returns is a convenient procedure that can be done by the users themselves.
So, why wait for filing your ITR, open the online portal mentioned-above and file your tax return.