Filing income Tax returns online

Filing income Tax returns online

Every person, entity , company, HUF ( Hindu undivided family ) whose total income from all sources( Including salary, house property, business income, Capital gains, Interest income earned in India)  more than the amount which exempted from income tax as per Indian IT act , has to file income tax returns to income tax department before 31st July 2011. In case of senior citizens having age above 65 years maximum amount exempted from income tax is Rs 240000. For women it was 190000 and for all others it was Rs 160000.

Tax rates applicable for the assessment year 2011-2012( Financial Year 2010-2011 ):-

Applicable Income tax rates for Indian individual women having age less than 65

Income from all sources Income tax rate ( Percentage ) Applicable Education cess on Income tax  ( percentage ) Effective tax rate
0 to 190000 0 0 0
190001 to 500000 10 3 10.3
500001 to 800000 20 3 20.6
800001 and above 30 3 30.6

Applicable Income tax rates for Indian individual persons having age more than 65 (Senior citizens)

Income from all sources Income tax rate ( Percentage ) Applicable Education cess on Income tax  ( percentage ) Effective tax rate
0 to 240000 0 0 0
240001 to 500000 10 3 10.3
500001 to 800000 20 3 20.6
800001 and above 30 3 30.6

Applicable Income tax rates for Indian individual persons (Men/HUF) having age less than 65

Income from all sources Income tax rate ( Percentage ) Applicable Education cess on Income tax  ( percentage ) Effective tax rate
0 to 160000 0 0 0
160001 to 500000 10 3 10.3
500001 to 800000 20 3 20.6
800001 and above 30 3 30.6

Various ways to file income tax returns:-

Indian individual can file income tax returns by using following ways

1) Paper Return: – Download the applicable ITR form in PDF format from EasyItFiling.com and fill the income details from salary, House property, Capital Gains, business Income etc and TDS, challan details and file it in local income tax office on or before 31st July 2011.

2) Online E Filing: – Individual persons can file income tax returns online freely and easily by using EasyItFiling.com.  If you are corporate employee, if your company provides you Form16 in PDF format, just upload the form16. It automatically calculates income tax and files your income tax returns easily.

Online E filing of tax return without Digital Signature: – Log in into EasyItfiling.com, File your income tax returns online, immediately after processing your income tax returns by EasyItFiling.com, Your income tax returns will be submitted to income tax department. After successfully processing of Income Tax returns by income tax department, you will receive ITR-V form (acknowledge form) to your Email address supplied while filing your income tax returns.

Verify the received ITRV and sign on it and mail it to the income tax department mentioned on below address within 120 days of online filing of your income tax returns.

To,

Income tax Department -CPC,

Post Bag  No- 1,

Electronic City Post Office,

Banglore -560100,

Karnataka.

Online E filing of tax return with Digital Signature: – Login into EasyItfiling.com, File your income tax returns online using you digital signature, immediately after processing your income tax returns by EasyItFiling.com, Your income tax returns will be submitted to income tax department. After successfully processing of Income Tax returns by income tax department, you will receive ITR-V form (acknowledge form) to your Email address supplied while filing your income tax returns.  This completes Filing of your tax returns.

Due Dates for filing income tax returns:-

For all companies , Corporate, Foreign companies , trusts *31st October of the assessment year
For all individuals , HUF ( Hindu Undivided Family) whose accounts to be audited under Indian Income tax Act *31st October of the assessment year 
For all other individuals not mentioned above two categories *31st July of the assessment year

*For the income you earned in financial year 2010-2011, Assessment year will be 2011-2012. That is Income earned in the financial year 2010-2011 will be assessed by Income tax department in 2011-2012.

Related posts:

  1. How to Open ITRV ( Acknowledgement )
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4 Responses to Filing income Tax returns online

  1. anthony says:

    Sir,

    I have missed to file my returns for last three years continuously because of my frequent job change and i lastly filed my return for the FY 2007-2008. There is refund of Rs.1600 for the year 2007-2008, which i did not claim because of loss of time. During the last three years, my income was not much more. I now plan to take a home loan to purchase a house for me for which last three years ITR is required. My question is whether i can file the last three years ITR now with penalty, if any, or i can file for last year? Please help me.

  2. Ranjit Singh says:

    is it compulsory to file return to the company on behalf of employees for A.Y 2012-13 onwards?

  3. tvelusamy says:

    filing it return for 2010-2011

  4. usha says:

    Thanks for raising the question. I also want to know about this. if any one having the professional income & skip the filing the return since 3-4 year. what should they do & what is the procedure to file the return.