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December 31 is the last day to submit your Income Tax Return (ITR), for assessment year 2020-21. You will have to pay an additional Rs 10,000 in penalty and accrued interest if you miss the deadline.

In light of the COVID-19 pandemic, the Income Tax Department extended the deadline for filing ITRs to December 31, 2012. The usual deadline is usually July 31.

Individuals with an income exceeding Rs 250,000 are required to file income taxes returns. Senior citizens, however, have to do so only if they live between 60 and 80 years.

We will show you how to file your online income tax return in just a few steps. Before we get started, please remember that your PAN Card and any other information regarding your income are required.

Required documents to file an ITR

  • Bank passbook
  • Passbook for post office savings accounts (if possible)
  • PPF account passbook
  • Salary slips
  • Aadhaar Card
  • PAN Card
  • Form-16 (if available)
  • These forms can be used in addition to Form-16A, 16B, 16C, and Form 26AS.

Online filing of an ITR

Step 1: Head over to the Income Tax Department portal (www.incometaxindiaefiling.gov.in) and log in to your account. Register on the portal with your PAN if you’re a novice user.

2nd Step: Open the “Download” section of the portal and then go to the e-filing section for the applicable assessment year. Select the ITR form you want. If you’re a salaried worker, ITR-1 (Sahaj), return preparation software can be downloaded.

Step 3 Open the returned preparation software (excel utility). Follow the steps and then add all your information to the utility using your form 16.

Open the portal and click on the “Download” section. Next, go to the e-filing section for the applicable assessment year. Select the ITR form you want. (Screenshot)

4th Step: You can now calculate tax due, pay tax, and fill in relevant details on the tax return. You can skip this step if there’s no tax liability.

Step 5 Next, tap the ‘generate XML’ button. The file will be automatically saved to your computer.

Step 6 – Return to ITR Portal and go to the “Submit Return” section.

An ITR-Verification is generated after submission and will be sent to the registered email address. (Screenshot)

7th Step: Save the XML file that you have created. Then digitally sign it. You can skip the digital signature step if you don’t have one.

Step 8. After submitting the form, an ITR verification will be generated. It will then be sent to your email address. You can also download it directly from this page.

9th Step: You will need to e-verify your return. This can be done in six ways. You can choose from Netbanking or Bank ATM. You will have to mail a copy of your ITR-5 acknowledgment to CPC Bengaluru if you are unable to e-verify.

How do you check the income tax return?

  1. The ITR Portal is available.
  2. Click on the ITR Status tab.
  3. Please enter your ITR acknowledgment number and PAN number.
  4. The status of your file will now be displayed to you.