Filing your income tax return is very easy thanks to the various online portals available today. Whether you are an individual or HUF taxpayer, business person or NRI, you can choose the portal that best suits your taxpaying needs. But, to begin with, you must choose the right portal.

How to Choose the Right Tax Portal

  1. The portal must offer the forms you would need such as the ITR₁ or ITR₂.
  2. Make sure the portal has provisions for entering all necessary information. For instance, including losses incurred in a previous year in your return.
  3. Look for a portal that has an interface that is easy to understand and use.
  4. A good portal will charge you a fee only when you actually submit the returns.
  5. If you miss out a slot, the portal should direct your attention towards it.
  6. If you make an error, the site should prompt you to correct it.
  7. Check for the authenticity, and portal’s security and privacy policy and make sure they have the necessary protection from hacking.
  8. The portal must encrypt the information that you enter and transmit through it.
  9. If the portal carries advertisements or uses your information to market financial products, it is probably not authentic.
  10. Check the government site, www.incometaxindiaefiling.gov.in for the list of e-return portals or intermediaries also called ERIs.

 

Name of the Portal Taxspanner.com Taxsmile.com Incometaxindia.gov.in
Suitability Individuals, HUFs, Businesspeople, NRIs Individuals, HUFs, NRIs Every kind of taxpayer
Charges Rs. 249-749 for Individuals and HUFs/ Rs. 749-2,499 for others Rs. 249-400 for Individuals and HUFs/$69 for NRIs Free of cost
Features E-return filed within 30 minutes/ITR V uploaded within an hour/Facility for attaching Form 16 by email/Services of tax expert Basic silver version/Gold version with digital signature/Complete assessment of income and deductions Downloadable Excel sheet/Compute button for making calculations/Validate button for error checks
Ease of Usage Click on ? for instructions Good user interface/Q&A format/Move mouse on ? for information Similarity of Excel sheet to regular physical forms

Steps for e-Filing–How to Register

  1. Choose the appropriate portal based on the criteria outlined above.
  2. Register with the tax-filing site. Use your email address as your ID if the website supports it so that you can remember the ID for the future. Choose the correct form according to the instructions you receive.
  3. Once you have created your account, fill the appropriate form correctly.

Key things to remember while E-Filing Tax

  1. Make sure you have all the relevant information and documents at hand. For example, the Form 16 from all your employers, interest on investments, fixed deposit schemes, bank accounts, capital gains on stocks and real estate etc.
  2. If your employer deducts the tax at source (TDS), you can add the information along with the TAN of the company.
  3. Each time you move to a new form, remember to save the data you have entered.
  4. Keep information about gifts, donations, tax saving investments so that you can get eligible tax breaks.
  5. Carefully fill the details such as email address, mobile number, bank account number along with the MICR number as tax department will use this information to refund your tax and communicate with you when necessary.

Verifying and Submission

  1. Recheck the information you have added. You can download a PDF or Word document to confirm that the details you have added are accurate.
  2. Add your digital signature before e-filing. Click on the button and your e-filing procedure is complete.
  3. If you don’t have a digital signature, you will receive an email acknowledging your return and an ITR V.
  4. Fill out the ITR V in black ink and sign it personally using blue ink.
  5. Remember not to fold it and make sure that the bar code can be clearly seen.
  6. Print out a hard copy of this ITR V and post it to the Centralized Processing Centre located at Bangalore. Make sure you use either regular or speed post. The centre does not receive registered mail or couriers.
  7. The CPC sends you an acknowledgment with a month of your having mailed the form. In case you don’t receive it, you can send another one within 120 days of first having e-filed your return.
  8. To avoid postal uncertainties, it is advisable to buy and use a digital signature.

By following these simple steps, you can e-file your returns without any problems whatsoever. To read more informative articles on income tax, please visit: Lending Chaupal Tax Resources

For or  more information on filing tax returns online, please read the following articles:

  1. http://timesofindia.indiatimes.com/business/india-business/How-to-e-file-your-income-tax-returns/articleshow/9180046.cms
  2. https://cleartax.in/Guide/eFilingIncomeTaxReturns
  3. https://cleartax.in/Guide/printing-sending-itr-v-cpc-bangalore
  4. http://www.taxspanner.com/