What is e-filing in tax?

THE PROCESS OF ELECTRONICALLY FILING INCOME TAX RETURN THROUGH THE INTERNET IS KNOWN AS e-FILING.

What is the link for ITR filing?

Taxpayer can file ITR 1 and ITR 4 online. Login to e-Filing portal by entering user ID (PAN), Password, Captcha code and click 'Login'. Click on the 'e-File' menu and click 'Income Tax Return' link.

How do I file e tax return?

Step 1: Log in to the e-Filing portal using your user ID and password. Step 2: On your Dashboard, click e-File > Income Tax Returns > File Income Tax Return. Step 3: Select Assessment Year as 2021 – 22 and click Continue. Step 4: Select Mode of Filing as Online and click Proceed.

How do I log into e-filing portal?

Step 1: Click Login on the e-Filing portal's home page. Step 2: Enter your Aadhaar number in the Enter your User ID textbox and tap the Continue button. Step 3: After confirming your Secure Access Message, select OTP on your Aadhaar-registered mobile phone and click Continue.30-Nov-2021

Who is eligible for e-filing?

According to Section 139 (1) of the Income Tax Act, 1961 of India, individuals whose total income during the previous year is more than the maximum amount not chargeable to tax, should file their ITR or income tax returns. When such individuals file their income tax returns online, the process is known as e-filing.

Is e-filing mandatory?

Yes, it is mandatory for every partnership firm to file the return of income irrespective of amount of income or loss.04-Apr-2022

Which ITR is for salaried person?

Thus, if a salaried individual has income from salary and capital gains, then he/she will be required to file an income tax return using the ITR-2 form.18-Aug-2022

What happens if I dont file ITR?

Non-filing of ITR can lead to imprisonment, where the term can vary between 3 months and 2 years. Non-filing of ITR can lead to imprisonment, where the term can vary between 3 months and 2 years.

Can I file ITR for last 3 years now?

No, you cannot file an ITR for the last three years together, that is, in one year.

Can I File my ITR myself?

The process to e-file ITR is quick, easy, and can be completed from the comfort of an individual's home or office. E-filing ITR can also help in saving money as you would not have to hire an individual to file ITR. Note: You can now file your taxes through the New income tax portal.

How can I save tax on 12 lakhs?

Tax Deductions under Section 80(C) Investments in PPF (Public Provident Fund) Investments in EPF (Employee Provident Fund) Investments in ELSS funds (Equity-Linked Savings Scheme) Investments in NSC (National Savings Certificates)09-Aug-2022

How do I fill in Efiling?

Go to e-filing website.
Login to e-filing website.
Proceed to e-Borang.
Go to e-BE.
Ensure all your individual details are correct.
Declare your income details.
Fill in your tax reliefs, rebates and exemptions accordingly.
Check the total taxes you are due or you have overpaid.

How do I get my Efiling User ID and password?

Step 1: Go to the e-Filing homepage and click Login. Step 2: On the Login page, enter your User ID and click Continue. Step 3: On the Login page, select Secure Access Message, Password option and click Forgot Password.

How do I check my e-filing status?

Step 1: Go to the e-Filing portal homepage. Step 2: Click Income Tax Return (ITR) Status. Step 3: On the Income Tax Return (ITR) Status page, enter your acknowledgement number and a valid mobile number and click Continue. Step 4: Enter the 6-digit OTP received on your mobile number entered in Step 3 and click Submit.

How to activate efiling User ID?

Registration Process

Click 'Register Yourself' button located at right side of the Home Page.
Select the user type as 'Individual'. Click Continue.
Provide the following basic details:
Click 'Continue'
Fill in the following mandatory details:
After registration,
Enter the correct OTP to complete the registration process.

What are the types of e-filing?

Types of e-Filing

Option 1 - Use Digital Signature Certificate (DSC) to e-File.
Option 2 - e-File without Digital Signature Certificate.
Option 3 - e-File the Income Tax Return through an e-Return Intermediary (ERI) with or without Digital Signature Certificate (DSC).

What is the benefit of e-filing?

E-filing software greatly reduces the number of errors. The software allows checking tax and accounting reporting automatically, processing data more accurately and reporting in compliance with the standard.

How much income is tax free in India?

If your income is below ₹2.5 lakh, you do not have to file Income Tax Returns (ITR).

What is the minimum income to file ITR?

The individual must file an ITR if the sum of their professional gross revenues for the preceding year exceeded Rs 10 lakh. A tax return for the year must be filed if TDS or TCS totaled Rs 25,000 or higher. This rule will apply to senior citizens if their combined TDS or TCS is Rs 50,000 or greater each fiscal year.29-Jul-2022

When did e file start?

The history of e-filing began in 1986 as a small test program where only five tax preparers from the metropolitan areas of Cincinnati, Raleigh-Durham, and Phoenix agreed to participate. Since then, e-filing has grown to become commonplace, serving millions of taxpayers every year.

Who is exempt from filing ITR?

If you are a resident of India and were 75 or older the year before, that is, in FY 2021–2022, you are exempted from filing an ITR.22-Jul-2022

What is e-filing in tax?