E-Filing Income Tax Returns In India - An Overview

E-Filing Income Tax Returns In India – An Overview
Individual taxation is a type of return that is used to file taxation with the taxation department. Maybe a tax made obligatory by the Central Government on the financial gain of individual Filing taxation is each citizen’s responsibility. The IT department verifies these declarations of financial gain, and if any quantity has been paid in excess, the department refunds the amount to the assessee’s checking account. To avoid penalties, all entities should file their taxes on time. A taxation return is a form that contains data on financial gain associated with tax paid by an assessee. The taxation department of India has various forms for it like ITR one, ITR 2, ITR 3, ITR 4S, ITR 5, ITR six, and ITR seven. Bandhu e-Services offers the most effective service and helps you with the right kind of form to fill in at the precise time.


How Does Income Tax Return Filing Online Work For You?

This form contains data about the taxation paid by an assessee. Filing that aids in simple tasks such as loan applications and visa applications, as well as avoiding penalties.

Things To Remember During Income Tax Return Filing

  • Do not wait for the due date to file the IT return.
  • Always collate all the documents needed to file ITR
  • Pick the correct IT return form. This is important.

Why File IT Returns?


The advantages of filing for IT returns are:

  • Loans:
    Bank loans like education loans, vehicle loans, and personal loans are often available simply as they need the last 3 years of IT returns.
  • Visa: As immigration centers scrutinise several documents, IT returns proof could be a necessary document for visa candidates.
  • Avoid penalties:
    Hefty amounts would be charged for non-filing of tax returns, and thus it’s invariably higher to file them to avoid legal repercussions.

IT Tax Refunds & Taxpayers Responsibility

A remunerator becomes eligible for a tax refund once an excess quantity of tax is paid over the particular liabilities. So as to assert the refund, the remunerator should have filed the returns well before the maturity date.
Tax payers sometimes receive notices from the IT department to confirm they completed the filing method with no delays. Any loss on house property, depreciation, business loss, or other type of loss that does not offset the financial gain will be carried forward to the next year.

How To File Your Income Tax Return Online?

A Detailed Process

To file your IT returns, gather all documents like bank statements, last year’s come, and type 16.
Log on to

  • Register at the website using the PAN number. It becomes your ID.
  • View Form 26AS. It shows the tax deducted by the employer. The TDS on Form 16 should match this amount.
  • Download the ITR Form that is applicable to you. If you do not know the right form, consult Vakilsearch.
  • Complete the entire form by filling in the required details and then submit it.
  • Click the Calculate Tax button, to know your payable amount.
  • If applicable, pay the required tax.
  • Enter the challan details on the tax return section of the form.

Commplete A Simple Form

You need to fill out our Trade application form and provide details about your food business.

Send Your Documents

You need to email us the required documents and we will create your Trade Form A and Form B.

Documents Submission

Your Trade License application along with other declarations are filed local FBO by our CS/ CA.

License Issued

We will mail you the license which will act as a Trade license,We will mail you your Trade license,.

Due dates for filing IT return

  • July 31: A firm or people who are not liable for audit.
  • September 30: A company or other who is liable to audit.
  • March 31: All individuals and companies filing belated returns.

Vakilsearch recommends creating the use of Google Calendar to urge early notification of due dates and on-time ITR filing.

Income Tax Return Acknowledgment

  • Once the ITR is filed, an acknowledgment with a duplicate is issued. It consists of details like:
    • Name
    • Address
    • Status
    • Permanent Account Number
    • A brief statement of taxable income
    • Deductions
    • Tax paid
    • Verification

Who Should File Income Tax Return?

As per the Income Tax Department the entities required to file IT returns annually are:

  • Every company, be it personal restricted, LLP, or partnership, regardless of the gain or loss, should file IT returns.
  • Individuals enjoying financial gain from mutual funds, bonds, stocks, mounted deposits, financial gain from interest, house property, etc
  • Individuals receiving income gain from the property are below charitable trusts, spiritual trusts, or financial gain from voluntary contributions
  • particular or companies that want to claim tax refunds
  • Salaried people whose gross financial gain before deductions is below section 80C to 80U in excess of the exemption limit
  • People who have opted for one job over another are also eligible
  • All people on onsite deputation with foreign income, foreign assets, NRIs, and technical school professionals

 For business tax return filing:

The IT Department of India has rules for all businesses in operation throughout the country to file income taxes every year. If need be, TDS can even be filed and advance taxes may be paid to make sure that the business complies with the IT rules and rules.

Proprietorship Tax Return Filing

A proprietary firm is run by one person, known as the proprietor. Proprietorship isn’t a separate legal entity, that is, each the owner (business owner) and also the business is similar. thanks to this, the ITR filing for proprietary is the same as that of the owner.

Proprietors are required to file IT returns every year. The procedure isn’t completely different from that of individual tax filing.

Requirements for filing proprietorship tax returns:

Proprietors among sixty years of age and whose income exceeds Rs.2.5 lakh need to file proprietary tax returns. Proprietors higher than sixty years however but eighty years older and whose total financial gain exceeds Rs three lakhs are eligible.

Proprietors higher than eighty years old should file their IT returns if their total financial gain exceeds Rs five lakhs.

Partnership Firm Tax Return Filing

As per the tax Act, all partnership corporations are treated as separate legal entities and are applicable for tax rates that are on par with LLP and corporations registered in India.

Requirement for filing partnership firm tax return

Irrespective of financial gain or loss, partnership companies needed to try to IT filing. If the firm has been commercially inactive with no registered financial gain, a 0 taxation come ought to be filed at intervals from the stipulated date.

LLP Tax Return Filing

All LLPs or financial obligation partnerships are thought of as separate legal entities, and their revenue enhancement rate is comparable to that of all corporations registered in India. The revenue enhancement Act declares that every  LLP’s should file their tax returns regardless of the loss or gain they incurred that year. If the LLP has seen no endeavor or registered financial gain, then a 0 revenue enhancement should be promptly filed.

Company Tax Return Filing

All types of business structures like Private Limited Company, Limited Company, Limited Liability Partnership company, One Person Company are registered under the Ministry of Corporate Affairs. All such companies are mandatorily required to file IT returns as prescribed by the Income Tax Act.

Requirement for filing company tax returns.

Documents Required For Income Tax E-Return


  • 1. Pan Card
  • 2. Aadhar Card
  • 3. Photo-I
  • 4. Product Commodity / Item List
  • 5. RoR / Rent Deed / Electricity Bill (If Any)
  • 6. Panu Receipt/Water Bill


Yes, you would like to file. There’s a difference between filing tax come back and deducting TDS. You file an instrument as an indication of the payment of all the taxes due. The IT comeback would additionally assist you while applying for a visa or a loan.

You can build the payment to the govt on the official website of the IT Department. You will pay through internet banking, alongside Challan 280.

Yes. You’ll file delayed IT returns for all the years non-churchgoing to this point.

Income Tax Return (ITR) forms are called attachment-less forms. It means the taxpayers don’t have to attach any supporting documents (such as TGS certificates, investment proofs, etc.). You do not have to attach these documents whether or not you file your GST return electronically or manually. However, you need to keep these documents with you in the correct order. You’ll submit these to the authorities for inbound things like inquiries, assessments, audit, and so on.

You can claim a refund of your excess tax quantity whereas filing your IT return. Your refund is going to be credited to your bank account via ECS transfer. Please make certain no mistakes are created whereas mentioning your bank details (IFSC code, account variety, etc.) on the ITR form.

It’s necessary for you to file a return on time, even though you do not have any positive financial gain. If you have incurred a loss in any twelve months, you will need to hold it forward for adjustment with the positive income within the consequent years. This may be allowed on the condition that you file your IT return on time, with a mention of the loss incurred.

ITR Preparation and Filing Process is Easy.

Know more about Income Tax Return in India.

Check out how NRIs file income tax.

Know the details on the Income Tax Return.