e-File Income tax return For AY 2014-15 – Step By Step Procedure

 

e-Filing income tax return is very easy for salaried person. If you still did not try it or you avoid technology, give e-return a try. Within 15 minutes you will be able to file income tax e return online. Through the online procedure not only you will save 300-1000 rupees, but also you need not to share your earnings with anyone. Also you will get your income tax refund quickly. Let us see how easy it is.

‘Register’ or ‘Log in’ Income tax India  efiling Portal

To efile your income tax return there is a separate website other than the Incometaxindia.gov.in. This website is incometaxindiaefiling.gov.in. Visit this website.

Site may not open in chrome browser due to ‘invalid  security certificate’. In that case you should try to open it in mozilla firefox or internet explorer. If You are filing your return first time you must register with your PAN number. It is a one time process, don’t hesitate it as easy as opening a facebook account.

Handling A Peculiar Situation

If you have filed your return earlier through chartered accountant, he might registered you. In this case you will not be able to register yourself as your CA has already used your PAN as user ID.  So just dial to your CA and ask the password. If for any reason you can’t get password, use the ‘forgot password‘ option.

 

income tax return efiling login

 

How To Reset Your Password

Remember your PAN is the user ID. It will give you three modes to reset your password.

efiling of income tax return

    • In the first case you have to answer the secret question. This one is the easiest one, but if the CA has set it, you will not be able to answer.
    • The second mode is  the digital signature, most  of the  people don’t have this (it is costly to maintain one).
    • In the third option you need to give your bank account number and assessment year. You can get your acknowledgment number from intimation mail of income tax department. Your CA should have provided this intimation mail.

It may also happen that CA has not filled bank account number in previous year’s return, then you can’t use this option.

Also if you give everything correctly the password will be sent to the earlier provided email. It may also happen that CA has given his email address while income tax return efiling .This means that refund cheque would come to his address. Further he can ask a share from refund.

In my office almost everyone who has used the service of CA is facing this problem. CA has not given the password. He has given his email address in the accounts of clients. Also, he did not give bank account numbers in the previous return. He has done everything to stonewall his clients if they try to file their return themselves. Earlier CA used to give his address on the returns. So that they can again ask some cut from the refund.

However the situation has reversed this year. The income tax department has set limit for email ID and mobile number to be used in different accounts. Now CA will be forced to give your mobile number and email ID while filing the return. This will mean that you will get keys in your hand.

But if you can’t get your details for any reason, don’t worry, there is an easier alternative. Mail your details to income tax department stating your inability to log in. They will send you the new password however it will take  2-3 days.

During the helping to my colleague’s returns, I found that log in is the  biggest deterrent of this procedure.  But again this is one time problem. Once you get a password, there will not be looking back.

How To get password from income tax Efiling

How To e-File Income Tax e-Return

After Log in you can see your own page where you can file your return online, see your previous returns, and change your personal details. I advise to check your personal details first. If CA has created your account, it is  a must. Specially check your mobile number and email address.

Now lets go ahead to e-file the income tax return. Look at left hand upper corner of the page, there is a link for quick filing. Go through this link now, within ten minutes your efiling will be complete.

income tax return efiling submit

 

You should have these documents or details before proceeding

  • Form 16
  • Other income details
  • Bank account number
  • IFSC code
  • Personal details

Now, click on the quick e-File ITR link.

online income tax return

  • Choose ITR-1 if you have salary income.
  • In most of the cases assessment year would be the current financial year.  If you are filing late return for one year earlier,  choose the previous year as assessment year.
  • There will be three options address. If your address has not been changed recently, click on
  • for second option. You will get the opportunity to verify and rectify this.
  • Most of the people don’t have digital signature, then choose ‘NO’

Fill Personal Details

After submitting you will see ITR-1 form. In this form most of your  personal detail  would be already there. You have to  only fill Sex, Country, email address, and mobile number. If your address has changed then change the address also.

Income Tax Efiling Status

In the next step of online income tax efiling you need to tell about your filing status.

      • A18-  Private company employee should choose ‘Other’ in ‘Employer Category’ column.
      • A19 – You can leave the tax status column, as it will change according to its calculation.
      • A20- Those people who were more than 180 days in India during the  last financial year should choose the Resident option in residential status column.
      • A21- If you are filing your return before the last date, select ‘Before the due date’ else ‘After the due date’. You can file the income tax return after the date but there are many potential problems as well.
      • In most cases, your return should be original unless you are filing revised return for the same financial year.
      • If you are filing revised return, you should give additional information about the previous return.

 

 

Efiling incometax return Free

Give Income Details

After efilling the first page don’t forget to save the draft. On the next page you have to fill the income details and tax saving investments. So keep your form-16 handy. Keep in mind that for filing income tax return your ‘income from salary’ is not the gross income. In Form 16 it must be under column ‘Income Chargeable Under The Head ‘Salaries’. Take that figure from form 16.

 

efiling INcome tax return India

 

If you are earning from house property or bank deposit (interest more than 10,000) then you have to fill this as well. For  these other income tax should be already paid.  If not, deposit the tax online and get the details. You should give those details with the return.
Now you have to give details of expense or investment which are eligible for tax deductions. If you have declared all the details to your employer correctly, you should not worry, it will be on Form-16. Take the figures from form-16 and fill the return.

Tax Saving Investment/Expense Details

In this section of income tax efiling you have to fill the details of your tax saving investments. There are many tax saving options. I assume that you must have chosen some from 10 best tax saving option. Add them up and fill the total of 80C investment in one column. These 80C investment may be

 

There are some more tax saving option also. Health insurance is out of the 80C. You should fill it in column of 80D.

e-file Income Tax Return India

Taxes Paid Details

After filling your income details and deductions now you should give the information about the tax deducted at source and advance tax if any. On this page there are three sections, but if you have only salary income and TDS has been deducted for same, you have to worry about the first section only.
In the SCH TDS 1, You have to fill the income and tax paid detail by the employer (s). If you switched the job in during financial year and got two FORM 16, Add another row for the second one. You can create as much rows as you have form 16.
This section may be pre-filled as tax department knows how much tax have you paid and what was the declared income. If the pre-filled value matches with your tax paid detail you can leave it untouched, else you should fill the income and tax paid details according to your form 16.
In the first column fill the TAN of employer.  In your form-16 there must be the TAN number of the employer. Also check the correct name of the employer in the form-16.
Again, you have to fill taxable salary for the year in third column. It should be the same as column B1. Form 16 has the details of TDS in first page. Companies normally submits TDS every quarter, so there should be 4 entry of TDS. You have to give the total TDS.

 

income tax return efiling

 

If you have any other income and tax has been deducted before the payment, give details in the second section. Tax deductor should give you these details as your company gives in form-16. In case you have submitted some tax yourself (for property income or interest income) then fill the third section. After this page you are almost done.

Tax Payable/Refund Status

On the next page you can see your tax details. If you are eligible for any tax refund it will be there before Refund column. It is also possible that your company have deducted less tax for any reason then there will be tax payable amount. In this case you have to pay your remaining tax first and then e-file income tax return meanwhile save your filled form as draft. Ideally, there should be zero in tax payable and refund column. 

 

efile income tax return

Bank Account Details

In the next section you have to give your bank account details. If you have any refund then these details become very important for speedy reimbursement. You have to also give IFSC code. Cheque leaf contains IFSC code. You can also  get if from here. Now submit it, but don’t forget to take printout of ITR-V. Sign in  the ITR-V and send it CPC Banglore. Full address will be in the ITR-V. Send ITR-V only by simple post.
With this your online income tax return efiling is complete. First timer may take some time to understand and fill it, but in later years it will be definitely a cakewalk.
If you made any mistake, file revised return again. The process of revised return is similar, only you need to choose revised return in desired column. You should also give the acknowledgment number of the original return.
Further you can also e-File income tax return of your acquaintances and relatives also. Did you find this how to efile income tax return procedure useful? Don’t forget to share it with your facebook friends, Twitter follower and Google Circles.

photo credit: Jeremy Brooks via photopin cc

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Chandrakant

Chandrakant started PlanMoneyTax Blog. He writes on Investment, Saving, Insurance, and Tax issues. Besides personal finance he has keen interest in technology and politics. Presently Chandrakant works with CNBC Awaaz.


  • parkash

    have a small bussiness, and my income is under taxable, how can i file return online,
    its my first time

  • lovely

    3 months age I file a income tax for year 2014-15 by seeing a 26as form that time the 26as form shows tax Rs23472 and I got my refund but now 26as form showing tax RS47734 what should I do ???? can I refund my rest of income tax … plzzz suggest me

    • http://www.planmoneytax.com Chandrakant

      Hi Lovely
      Sorry, I can’t understand you. Can you say it again. I would be happy if you ask me in Hindi.

      Regards
      Chandrakant

  • arti

    3 month ago I filled the income tax by seeing 26as form that time it shows Rs23450 and refund paid to me but now the 26as form updated and the tax convert to Rs47730 now what should I do??? can I fill refund my rest of tax ??

  • Gagan Sharma

    Thanks for this useful information, i am the first time user to fill this return self, but ur guide made it very easy for me thanks again

  • Saurabh

    Sir, i hav filed my returns for tds using ITR 4S on 31 july. But i did not declare my income from shares which i held for 4 years. Please advise me how should i go ahead and declare my long term capital gains.

  • sanjay

    Hello sir,
    i have filled income tax returns itr4 online on 14th Aug but by mistake it took submitted and my income tax deducted more than the actual tax.
    I called helpline no. but they told me you can’t file revised return and submit ITR -V , after that they will send me rectification letter.
    Plzz suggest me any other option.

  • ASIM AMITAV SUBUDHI

    Hi , I already Filled my IT retrun ITR-V generated but not send yet.Found Tax payble as Rs40. I already epay the Tax of 40. Should i need to file Revised Return ?? Already Due date is over , can i file revise return ??should i need to send both Original or Revised Return copy or only Revised Return copy.

    • http://www.planmoneytax.com Chandrakant

      Hi Asim
      You should file revised return. Send the ITR-V of the revised return.

      Warm Reqards
      Chandrakant

  • swaps

    please provide me the date when:
    If you forgot both your registered email ID and password. What was the older option of getting access to your account in 2012 and also 2013 without otp ?
    1. During 2012 (January – June) what was the process
    2. During 2012 (July – Dec) what was the process
    3. After that period – what was the process
    Did the I.T. dept then stop sending password to unregistered email IDs ?
    What was the old process and what is the new process if you forgot both?
    When exactly did the process change?

    • http://www.planmoneytax.com Chandrakant

      Hi Swaps

      I think your questions are beyond my capability. Please contact to IT department. You can also File RTI. :-)

  • http://gravatar.com/rathaurabhinav rathaurabhinavabhinav

    hello sir,
    i’m trying to login for e-filling..but there is a problem,it says my user name or password is invalid but when i try”forget password” option, it says ‘PAN NOT EXIST’..and when i try ‘REGISTER’ OPTION.. then it sayes’PAN ALREADY REGISTER’….WHAT CAN I DO SIR..??

    • http://www.planmoneytax.com Chandrakant

      Hi
      Check if your pan is still active. It may b become invalid for some reason. Call to customer care.

      Regards
      Chandrakant

  • Amit

    Is it possible to give other person Bank account number for credit the amount , i have filled the form and i given my father’s bank account number ?

    • http://www.planmoneytax.com Chandrakant

      Hi Amit
      Ideally you should give your account number. You can file revise return and and give your account number.

      Regards
      Chandrakant

  • Anamika

    Hello sir,
    i have filled income tax returns online on 6th Aug but by mistake it took submitted and my income tax deducted more than the actual tax.
    I called helpline no. but they told me to submit ITR -V , after that they will send me rectification letter.
    Plzz suggest me any other option.

    • http://www.planmoneytax.com Chandrakant

      Hi Anamika
      You can file revised return and send ITR -V of the revised return.

      Regards
      Chandrakant

  • ashish

    Hi… I paid addl. Tax on 1st aug 2014. Am I liable for penalty for 1 day?

    • http://www.planmoneytax.com Chandrakant

      Hi Ashish
      you are not liable for interest
      Regards
      Chandrakant

  • megha

    hi chandrakant sir,
    i’m a salaried employee with salary amounting to 5,41,200. I have ppf and pf investments worth Rs. 41,400 ( 27,000+14,400) . I also have an FD interest income of Rs.26,762. therefore, the total taxes paid comes to Rs. 31535 of which tax payable is Rs.4840. My question is how can I save this tax. Also if I can make an investment now for the Fy 2014-15? or is it too late now? and please guide me for the future. Thanks and best regards.

    • http://www.planmoneytax.com Chandrakant

      Hi Megha
      You can’t do now for the previous financial year (2013-14). You are filing tax return for FY 2013-14. In this financial year your tax can go down by almost 20,000. To save this tax you have to invest in tax saving instruments up to 1.5 lakh (PF included). The health insurance will give you chance for additional tax saving.

      Start tax saving investment immediately.You have a big scope. Don’t take any insurance schemes except term insurance.

      Regards
      Chandrakant

  • Saurabh

    Sir, i bought some shares 10 years back. I have sold them now.. Should i declare my income.?? If yes then how shall i move ahead?? Whats the paperwrk involved… Please advise

    • http://www.planmoneytax.com Chandrakant Mishra

      Hi Saurabh your profit from shares is tax Free as you sold them after 1 year. U can fill itr 4s and declare the income

      • Saurabh

        Sir, is it advisable to refrain from giving a declaration since it is tax free.

        • http://www.planmoneytax.com Chandrakant

          Hi Saurabh
          You can. But declaration will stop any further queries. IT department track every transaction. It can give you notice seeing big amount in your account without any information. :-)

          Regards
          Chandrakant

          • Saurab

            Sir, Thank you so much for taking time to reply for my queries. One last doubt which I’d like to raise is; now that I have filed my tax returns for salary on 31 th july. how can I go ahead declaring my capital gains from shares.

  • Kapil

    Chandrakant,

    Can we claim Tax benefit on the principle amount of home loan for under construction flats.

    Regards,
    Kapil

  • ISK

    Hi,,i just filled my return online now.. date is showing 01 Aug 2014. Please tell me if this is acceptable ?

    • http://www.planmoneytax.com Chandrakant Mishra

      Of course it is a acceptable. Cheers
      Chandrakant

  • Anurag

    Hi, While filling the form online there was some amount which i had to pay and then i have paid it online got the BSR code , chalan number and etc.. Now when i am fillig all these details the amount field is read only. I believe that should be automatically filled. untill and unless the total payble amount is not zero how can i submit the form. Please suggest as today is the last day. Is the date has been extended?

    Thanks,
    Anurag

    • http://www.planmoneytax.com Chandrakant Mishra

      Hi Anurag
      Sorry I am late. Also I can’t understand your problem. Did you try again?

  • Chandrashekar B

    while filing the income tax return online in incometaxindia portal it will be asking to save the draft. my question to you is how to retrieve the saved draft?

  • Subhash Chandra Pathak

    Mishraji your job for guiding people for filling tax return is obligation on us . You have cleared the tough task in a very simple way . I have got a good confidence now ,now can file the tax return of my wife and other relatives too .Thx again sir .

  • Amit

    HI chandrakant,
    I got an interest of 2k on my saving a/c from SBI and they have deduced a tax of Rs 228.This is in my 26AS also.
    Where should I put these no in online form?

  • https://www.facebook.com/Chetanpatil08 Chetan Patil

    Hi Chandrakant,
    Where to mention HRA in ITR? if not filed previously ?
    should I mention total income(after deducting rent or should I mention it in 80GG)?

  • amit

    hi chandra,
    I filed my tax at tds. But i am confused about assessment year. Is it 2013-14 or 2014-15?
    Thanks and keep up the great work.

  • https://incometaxindiaefiling.gov.in/ Malliakrjuna M

    Hi Mishra,

    I have filled the tax return online, but I have done one mistake.
    Income from salary/Pension (Ensure to fill Sch TDS1) column Gross total income instead of I have filled the gross salary. Unfortunately I am submitted the form. So now tax payable amount was getting more. I need to modify the gross salary instead of Gross total income .please help me same as ASAP today is the last date to fill the filling.

    Thanks & Regards,
    Mallikarjuna M

  • Saurabh

    sir, how to declare income from long term capital gains on shares holded for 15 years. I am a govt employee. Can i file it after 31 july also.. Please advice.
    Thanks

    • http://www.planmoneytax.com Chandrakant Mishra

      Hi Saurabh
      You don’t need to pay long term capital gains tax on shares. You can fill your return after 31st July. Relax.
      Regards
      Chandrakant

  • https://www.facebook.com/bhushan.dharmadhikari Bhushan Dharmadhikari

    HI Chandrakanth
    Under sec 80D we can claim Rs 5000 for pre health check up.
    Can i claim this for me or my parents if i we DO NOT have the health Insurance ? SOme where i read that we can claim , and if so , how do i submit the Proofs ? do i need to post it with the signed ITR ?
    Similarly for 80G , i had dome some donations, how do i send the proofs to the IT dept ?

    thanks in advance,.
    Regards
    Bhushan

  • jatinder

    What a great topic embedded in simplicity. You are doing a great service. Thank you…

    • http://www.planmoneytax.com Chandrakant Mishra

      Thank Jatinder for the encouragement. I Will like if you become part of the planmoneytax. Please Choose your favorite social media. Thanks once again.
      Regards
      Chandrakant

  • Trinath

    Sir i have inserted the paisa but it has inserted as rupees but i had not notice ,so how can i edit this plz reply

  • http://gravatar.com/smkatiyar smkatiyar

    Thanks a lot sharing such beautiful information. He is helping lot of people, including me :)

  • Pavan

    Hi,

    My gross salary is included HRA, Conveyance exemption and medical exemption.. In which section i have to enter these details..
    and what should i enter in B1 entry.. Gross total income which is my Form16 or Gross salary..

    Thanks in Adavnce
    Pavan

  • Rajesh R

    Hi Chanra,

    I Got the below error while submitt the tax online “Only one Original ITR can be filed u/s 139(1). Please change the section and retry.

    Could you pls share what is actual mistake..?

    Regards,
    Rajesh

    • https://www.facebook.com/geojose1987 Geo Jose

      You might already have submitted the ITR 1.. So this one will be a revised one.. You can select the option “revised ITR” in option A21

  • chandan kumar

    Hi sir,
    I filled the itr 1 and in employeee type i filled private sector but i working in private sector. I see in ur guide line u suggest other.
    Plz suggest me what can i do.

    • chandan kumar

      Sorry filled pubic sector but i working in private sector

  • https://incometaxindiaefiling.gov.in Anshita

    Getting an error while updating details ubnder TDS tab
    Invalid field value for “itr.tr1IncomeDeductions.incomeFromSal”.

    Please help

    • http://www.planmoneytax.com Chandrakant Mishra

      Hi Anshita
      Please check there may be some character except digits.
      Regards
      Chandrakant

  • Channa

    I have bills for LTA, I have forgot claim tax expemption from employer, Now i want claim from IT office..My question is which colom/section in e-filling i have enter the LTA amount…pls guide me..thanks in advance…

    • http://www.planmoneytax.com Chandrakant Mishra

      Hi Kesavan

      In the income column fill the aggregate from both the form 16. In the column 80 C fill whatever your real investment during the Financial year.
      In the tax details column add ome more row. fill the income and TDS from both of the form 16.

      Regards
      Chandrakant

  • Rahul_tcs

    Awesome blog to provide this much clarity and help the beginners to fill returns.
    @Ramanpreet kaur: You should edit that value to equal to -Income chargeable under the head ‘salaries, in Form 16 and proceed.

    • http://www.planmoneytax.com Chandrakant Mishra

      Thanks Rahul.

  • Anand Sharma

    Dear Chandrakant,
    Very well written post – clear and with all the details. Really appreciate the time and effort people like you put into these, which helps numerous people like me!

    Thanks a lot!!!!
    ~Anand.

  • Mudit

    Hi I am reviseing my ITR 1 as i had shown one deduction for 80G in 80E.I am revising it however, i could ot see any column for mentioning original ITR 1 acknowledgment number.Please advise wher to mention this acknowledgement number

  • VINOD KUMAR SINGH

    THE PRESENTATION OF ITR 1 IS WONDERFUL, ERROR FREE AND FLAWLESS. MAY GOD BLESS ALL WHO HELPED IN PREPARING THESE GUIDELINES. I GOT MY ITR FILLED AND OF OTHERS TOO WITH ITS HELP. KEEP DOING SUCH GOOD DEEDS AND GOD WILL HELP ALL WHO HELP OTHERS.

  • srujan

    Hi sir
    my name is srujan.
    i’m wrongly entered the income details by mistakely… and i’m submitted it online already. so now i want to change that details. how could i change that details?

  • Samir

    Thanks, Chandrakantji.

  • DINAKARJV

    BANK DEDUCTED ONLY 10% TAX ON INTEREST HOW TO PAY REMAINING 20%( ONLINE BECAUSE IN 30% SLAB) ON WHICH CHALLAN NO? THEN WHERE IT WILL FILLED IN ITR 2

    • http://www.planmoneytax.com Chandrakant Mishra

      Hi
      Sorry for being late. You should fill these coulmn with your data of form 16. If it matches with your data then it is good else fill it.

  • Moumita

    Hello…
    According to my form 16 of assesment year 2014-2015 and e-filing site unclaimed/refund amount is RS.2090..But my mistakenly I submitted ITR form.I want to get back that refund amount.Please let me know the procedure to get back that amount.Can I again fill that form?

    • http://www.planmoneytax.com Chandrakant Mishra

      Hi Moumita
      I could not get you properly. Nevertheless, I am trying to answer. If you see and refund amount while filing online return then you will get it after few months in your account.
      Regards

    • http://www.planmoneytax.com Chandrakant Mishra

      Hi Ramanpreet

      Fill these columns yourself.
      Regards

    • Guptesh

      In which section we should add the income from PF?

      Best Regards.

  • Kapil

    Hello Sir,

    I bought an apartment last year and the developer on my behalf paid a 1% tds on the property do I have to include that details as well when filing returns.
    If yes then where do I fill these details?

    I have the form 16B with me.

    Regards

    • http://www.planmoneytax.com Chandrakant Mishra

      Hi Kapil
      You don’t need to mention it on your IT return. Since developer is getting money he should pay the tax. Government found it difficult to get the tax from developer after such purchases. Hence, government made it mandatory to Deduct tax at source. This means you the payee should cut 1% tds before the payment of house. It is not the part of your income. Rather the builder would show this TDS in his return. So don’t worry.
      Regards
      Chandrakant

  • Hemant

    Hi,

    I am filling Quick ITR for FY 13-14, in my from 16 there is 80CCE saving 100,000 (1L), but i am not able to find 80CCE in incometaxindiaefiling, i have also consulted with tollfree, but no help, please help.

    Thanks,
    Hemant

    • http://www.planmoneytax.com Chandrakant Mishra

      Hi Hemant
      Welcome to the site. Section 80CCE of IT act only says that tax saving through different investment can’t exceed more than the limit of 1.5 lakh (1 lakh for FY 13-14. Hence fill the total amount of 1 lakh in the column one that is for 80C. Go ahead.
      Regards
      Chandrakant

  • Swati

    Hi Chandrakant,

    I have filed my returns even though I have 500 rupees to be paid as tax. What should I do now ? Pay my tax and e-file new returns again ? Or is there any other way around ?

    Thank You.

    Regards,
    Swati

    • http://www.planmoneytax.com Chandrakant Mishra

      Hi Swati
      You have to pay the tax and file the revised return again. Do it fast. pay tax online.
      Regards
      Chandrakant

  • Samir

    I am working in a PSU. I went in a LLTC tour in the last week of March’2014. But, I did not get the TAX benefit in Form 16, issued by my company. Now, I want to avail that benefit in IT return. Where should I enter my traveling expenses in IT return. Pls help me.

    • http://www.planmoneytax.com Chandrakant Mishra

      Hi Samir
      You can deduct it from the income from salary amount while filing the tax return. But LTA have several conditions, check for them. Your employer should mention it in the form 16. However check the limit and condition and deduct it from your taxable income. Get the tax refund. :-)
      Regards
      Chandrakant

  • Devdatta

    Hello Mr. Mishra,
    It’s a nice article explaining the ITR filing you have put. I had filed the return in previous years and find it ITR1 easy now.
    However, I have query on ITR2. I have shares of foreign company and sold them in FY13-14. Now as I understand, the gain will be calculated as of shares of unlisted company. How do we put this in ITR 2? whether it will be capital gains (LTCG) as Indian shares/asset in Schedule CG or in Schedule OS or Schedule FSI? It will be helpful if you can give the details.

    Thanks

  • Anil

    Sir,
    I am a PSU employee with taxable income > 10 lakhs. I booked a flat in 2012 for which I have paid EMI from 2012. During filling of ITR for 2013-14 I couldn’t mention that. My question is
    1. which ITR has to fill this year to claim relief against Home Loan Interest paid from April-2013 to March-2014
    2. How can I get Income tax relief against my previous year’s home loan interest?

    • http://www.planmoneytax.com Chandrakant Mishra

      Hi Anil
      In both the cases file ITR1 only. Fill the home loan interest in negative in the ‘income from house property’ column.
      You can file revised return of FY 2012-13 using the ITR1. Do you have any other query? feel free to ask.

      Regards
      Chandrakant

  • D.Singh

    Hi, I have earned interest 7000 INR on saving account & 24000 INR from auto sweep FD’s. My saving account interest is less than 10000 INR, So need to mention in other income by adding with 24000 INR or donot. Please reply.

  • Ankit

    Hi Sir,
    I have some tax liability left after TDS, which form should I use to pay the self assesment tax and once I have paid it how to reflect it while filing returns so that my tax liability becomes zero while filing return.

  • http://gravatar.com/nutty466 NataraJ

    While filling Tax for this year I mistakenly edited the tax deducted other than salary section, already I got the acknowledge number, how can we corrected again

  • Aniket

    Hello

    I want to claim tax exemption under 80C for stamp duty charges (paid on 28th Mar 2013) , i understand there is no need to provide any supporting documents as an attachment while filing return.

    Regards
    Aniket

    • http://www.planmoneytax.com Chandrakant Mishra

      Hi Aniket

      You are absolutely right
      Regards

  • http://google.com Goyal M

    Hello Sir,
    I have a FD income of 70K and i am under 30% slab.
    Bank has deducted tax as per 10% tax calculation
    Now I have to pay remaining 20% tax.
    Ques:
    1. Should I declare “income from other source” as 70k or 60 k (70- 10k (10 k is free from tax ?))
    2. I am seeing that 234B and 234C interst is applied in return calculation? Do I liable to pay this extra interst amount?
    I want to understand what is the way to get rid of this from next time. Since bank will always deduct 10% and I always need to pay the extra amount late with interst panalty?
    How should i do from next time?

    • Devdatta

      I am not tax professional but based on my knowledge and experience I will try to answer this.
      1. FD interest income is not free from tax. Only thing is bank will deduct tax if it goes above 10K, that too 10% on whole amount. (e.g. if the interest is 11K, TDS will be 1100+ed.cess.) So you will have to show full 70K as income from other source. Show the TDS amount by Bank in TDS section and remaining amount you have to pay before filing the return.
      2. As I understand, tax if more than 10K should be paid as advance tax by 15th Mar of that FY, else interest penalty is applied. Hence, you can calculate approximate interest for the year (some banks provide that details too) and pay the tax before 15th Mar.

  • Goyal M

    Hello sir,
    I have a query:
    I have 70k income from FD interest. Bank have deducted 10% tax. And I am in 30% slab.
    So now I have to pay remaining tax of 20% on this.
    So ques:
    1. Should i declare the income from other sources as 70k or 60k(70k – 10k (Up to 10K is free from tax))
    2. Also in calculation there is 234B and 234C interest is getting added automatically, Am I liable to pay interest on tax?

    • http://google.com Goyal

      Please ignore duplicate comment.

  • Abhishek

    Dear Sir,
    Thanx for your kind step by step guidance….. I’ve a home loan and I’m not getting it what to put in deduction under section 24(b), do I’ve to put interest paid during financial year or full interest paid from the date of borrowing the loan?
    Do I need to consider tax on interest paid on my salary account or any other saving account?
    Grateful if u can guide on these doubts.

    Thanx,
    Abhishek

  • prince

    Hey,

    I have income from home tutions and house rent income only. Can you please suggest which ITR form to use? Thanks.

  • Poornima JM

    Hello Sir,

    My father is a state government employee and received gratuity amount and in his FORM 16, the gratuity amount is declared under the salary column and is income tax has been deducted from his Gratuity. Kindly let me know if we need to receive the revised form 16 or not. And how to file an income tax with gratuity received and request for refund of the income tax deducted.

    Thanks & Regards,
    Poornima JM

  • Krishna Patil

    Hello,

    I received form 16 A for TDS for interest on fixed deposit. The interest amount is Rs. 3500 but the tax deducted is Rs. 1400. I fail to understand why so much tax was cut even when interest doesn’t exceed Rs.10000.

    1> Can I claim a refund through ITR 1 ?

    2> If yes, then how should I fill ITR 1 so that I get the refund?

    3> Should I fill the amount of Rs.3500 in the column of income from other sources( Column B3)?

    Regards

  • Selvamani

    Hi Chandrakanth,

    Thanks for your service. Actually I have a tax payable amount of Rs.2630 ; but i efiled it already thinking that i can make the payment later. now what should i do?. Thanks in advance for your reply

    • http://www.planmoneytax.com Chandrakant Mishra

      Your Welocme Umesh!

  • Atul Bhegade

    Hello Chandrakant Sir,

    I entered wrong Assessement year i.e 2013-2014 and now my form is in draft mode. can i delete this draft. or can i change Assessement year to 2014-2015?

    Thanks,
    Atul.

    • http://www.planmoneytax.com Chandrakant Mishra

      Hi Atul
      You don’t need to delete it. If you don’t submit the form, it will not be counted. After some days it gets deleted automatically. File fresh ITR form with correct AY and submit that.
      Regards

  • http://www.planmoneytax.com/ venkatesh

    chandrakanth Sir,
    Wrongly without entering amounts i filed ITR I FORM and got ITRV document also.
    Now how to enter the amount and refile it pl help me in this matter,ASAP

    • http://www.planmoneytax.com Chandrakant Mishra

      Hi venkatesh
      There is nothing to worry. Take a deep breath and smile. You should again file the revised return by going through the same procedure. Only you need to choose revised in the column A23. Send the ITRV of revised return only.

      Regards
      Chandrakant

  • Nidhi

    I am unable to find form 26 AS. Please suggest a workaround

  • GEORGE

    Details for TDS2 are picked up from Form 26 AS which is still more useful for those who use this efiling page. Do we have to fill the few blanks columns of TDS2 like ‘unique TDS Certificate no. deducted year.

  • Vikash Kumar

    Dear Chandrakant,

    I am a salaried employee and have self assessment tax of around 21000 for Assessment year 2014-15. I have also paid it through challan 280 via my ICICI Bank. I was wondering how can we make a reference to this challan while filling up ITR1 as there is a section to fill self assessment tax, but no place to write the details of the challan I paid.

    Please help…

    Kind Regards,
    VIkash Kumar

    • http://www.planmoneytax.com Chandrakant Mishra

      Hi Ajay
      You can do that.
      Reqards
      Chandrakant

  • Umesh Kumar Gupta

    Hi Sir,
    Thanx for your quick reply to my query raised yesterday regarding non-deposit of tax before e-filing ITR.
    There is a few more questions on the same subject.
    1. My ITR shows that a tax of Rs 30,000/- is yet to be paid by me. My question is as to whether any interest is also required to be paid by me on and along with this amount. If yes, how to calculate the amount of interest due, to be added?
    2. How should I deposit the amount so arrived at through internet banking? Please tell me the step by step procedure.
    Kindly guide.
    Umesh Kumar Gupta

  • Surya Chandra

    Thanks Chandrakant. The article was very handy while filing my returns

    • http://www.planmoneytax.com Chandrakant Mishra

      Your welcome Surya
      Please Spread word about Planmoneytax. Do click like/follow on the social pages of Planmoneytax.

      Regards
      Chandrakant

  • VARA PRASAD

    Hi Sir,

    I have made some charitable donations during last year which was not being considered in Form-16. Also, I have a house loan which is being jointly owned by me and my father. But, total EMI payments is being done by me only. Because of this, only half of the Interest is being considered for deduction. Would like to know whether I can claim full deduction.
    So, now while filing IT-Return, do i need to attach any documents for claiming Tax refunds.

    Regards,

    Vara Prasad

  • Umesh Kumar Gupta

    Hi Sir,
    I have just submitted my ITR online and have received my ITR-V.
    I have made a mistake that there is some Tax yet to be paid/deposited by me, which according to your advice should have been paid first before filing the ITR online. What should I do now? Kindly guide.

    • http://www.planmoneytax.com Chandrakant Mishra

      Hi Umesh
      Now pay your tax online and file revised return . revised return is similar to fresh return only you have to choose revised in respective column.
      Regards
      Chandrakant

  • Ankit

    Hi Sir,
    I have worked for 2 employers in this financial year, hence have 2 form 16 details to fill. Can you please let me know how to go about it. Thanx in advance

    • http://www.planmoneytax.com Chandrakant Mishra

      Hi Ankit

      This is not a problem. In the income from salary column you should fill the total from both the form16. For 80C value you should take the value from both the form16 and fill the total value.

      In case of TDS details you should fill the tax deduction from both the employer. In SCH TDS 1 you should fill the tax deduction detail from the first form 16. Then add another row and fill the tax deduction by the second employer. That’s it. You are done. Now you can enjoy a hot coffee in this wet weather. 

      Regards
      Chandrakat
      http://www.facebook.com/Planomoneytax

    • Swaroop

      Hi Sexy

  • Sushil Kumar

    HI Chandrakant

    I am filling e-fill for 2014-15, want to know in the second page, how to calculate , B1(Taxable salary in head salaries)

    • http://www.planmoneytax.com Chandrakant Mishra

      Look at your form 16. It must be there.

  • Ashutosh

    Dear Sir,
    I have to fill IT return for AY 2014-2015, but i got confused which form should i fill ITR1 or ITR2?
    My bank interest+ FD interest is approx. 1, 20, 000. Should I fill this value in ITR1 under “Income from other sources” and claimed the benefit of Rs. 10000 under the 80TTA. It means 1,20,000-10,000 = 1,10,000 will be net interest on which I have to pay tax? Is my approach correct?
    Please advice/

    thanks and regards
    Ashutosh

    • http://www.planmoneytax.com Chandrakant Mishra

      Hi Ashutosh

      You are absolutely right. Please Go ahead. Do you find online filing process easy?

      Regards
      Chandrakant

    • Ashutosh

      Dear Sir,
      The step by step process illustrated by you is very easy and clears every doubt.
      Thank you for your advice.
      One more thing i would like to known is is the meaning of Column D22: Exempt income only for reporting purposes (if exempt income is more than 5000 use ITR2). Here what is the meaning of exempt income more than 5000. Is it include bank interest more than 5000?
      Please clarify?
      thanks and regards
      Ashutosh

      • http://www.planmoneytax.com Chandrakant Mishra

        Hi Ashutosh
        The exempted income is dividend and agriculture income. These are taxfree income. But you should report.

        Regards

        • Nav

          Dear Chandrakant Mishra sir,
          Thank you for your help..
          I also have similar question.. I want to file tax return online for financial year 13-14…
          I have earned interest from bank — around 1 lac and
          tax deducted is around 10,000 Rupees..

          I want to file tax return only for this — I have nothing else.. no employment in india — no other income in india..

          In this case, which one should I use?
          1) Quick e-File ITR — online
          2) ITR 1
          3) ITR 2

          Thank you in advance…

          • http://www.planmoneytax.com Chandrakant Mishra

            Hi Navneet
            use the first option.

  • Brar

    I have some confusion in filling SCH TDS1 field – “Income from Salary (3)”.

    Online utility takes the value automatically from Form 26AS in this field and it is not same as “Income Chargeable under head salary” amount from Form 16 which is

    entered in B1.
    Automatically taken figure is net taxable income.

    What value SCH TDS1 should contain?

    Explanation:

    Item no. 6 in Form 16 i.e. Income chargeable under Head Salaries(3-5) is the amount entered in B1 field of return form.
    This amount is before Housing loan interest deductions and before deductions under chapter VIA.
    While automatically populated Salary Income in SCH TDS1 from form 26AS is net taxable income after Housing loan interest and chapter VIA deductions are subtracted.
    e.g.
    Income Chargeable under Head Salaries – Rs. 5,80,000 /-. This is filled in B1.

    Deductions under chapter VIA Rs. 1,00,000 / -
    Net Taxable income Rs. 4,74,000 /-

    Now B1 value is Rs. 5,80,000/-
    I see that automatic value picked from Form 26AS is Rs. 4,74,000 /- in SCH TDS1 income column.

    What value SCH TDS1 should contain? I have spoken to an executive at TPRS helpline 1800-10-23738 and he suggested me not to change to automatically picked up value. I am confused now.

    What value SCH TDS1 should contain?

    Thanks and Regards

    • http://www.planmoneytax.com Chandrakant Mishra

      Hi Brar

      Indeed this is small thing. The value it picks automatically is the ‘income from salaries’ of the previous return. You have to change it with increased salary (Yes, Salary must have increased :-) ). Similarly the forth column also takes the value from the previous return. Change it with the latest total TDS. Now you will see everything goes right.You can check it with previous return.

      Cheers
      Chandrakant Mishra

      • Brar

        Sir, I have checked my previous return. This value does not match with the value in same column of previous return. This value is from 26AS of AY-2014-15 (i.e. Value after subtracting ‘Deductions under chapter VI-A’ from ‘Income under head salaries’)

        • http://www.planmoneytax.com Chandrakant Mishra

          Ok Brar Sahab

          This section is to be filled by you. Take your form 16 or TDS challan. search for the taxes paid and the taxable income. Fill them in column. That is it.
          Regards
          Chandrakant

  • amit

    hello

    I am filing return of this year, where should i put rent amount in investment

    • http://www.planmoneytax.com Chandrakant Mishra

      Hi Amit
      Let me explain the rent exemption in detail.

      Your expense on the rent is because of the job. If you don’t have the job you might live in your own house. Therefore you can deduct rent portion from the salary before producing it for taxation.
      But this deduction can’t be arbitrary. Your employer earmarks some portion of the salary for rent payment. This portion of the salary is called HRA (house rent allowance).

      Again, you can’t claim whole of the HRA for the deduction. There is a formula for considering rent deduction from the salary. This would be minimum of the following three options:
      Actual house rent allowance received from your employer
      Actual house rent paid by you minus 10% of your basic salary
      50% of your basic salary if you live in a metro or 40% of your basic salary if you live in a non-metro
      Now what you have to do?
      If you are salaried person and have the form 16, forget about the rent exemption. In the form 16 the company puts taxable income after deducting all the exemptions. you have to fill the taxable income in the ITR 1.

      Regards
      Chandrakant

      • https://www.facebook.com/ramIITR Ramchandra Sankhla

        By calculations, It seams that there is some amount of rent I can ask for tax exemption. I am salaried person and have form 16. Why I cant ask of rent exemption ? Is there no way to file it.

  • Poo

    Hi i would like to know whether saving bank
    account interest under section 80 TTA is applicable to salaried tax slab above 5 Lakhs?

    • http://www.planmoneytax.com Chandrakant Mishra

      Yes, it is applicable for tax slab above 5 lakhs.

      Regards
      Chandrakant

    • http://www.planmoneytax.com Chandrakant Mishra

      Hi Rajbir
      Don’t worry, If you have paid all taxes fairly then you should remain tension free. Write a registered letter to your assessment officer giving all the details and tell him about your employment.
      Also Do you have any other income in any previous year. It may happen that you have paid tax late in any previous year.
      Thanks

  • Pankaj Hotwani

    Hi,

    While filing the returns online, I went in “Quick e-File ITR” and selected “ITR-1″ as the form name but when I tried to fill the income details under “Income Details” tab, I found that there are no fields available online to enter deduction fields related to Section 10 like Allowance, Medical Reimbursement, LTA, etc. I am stuck because of this since last 2 days and even tried to get help from the customer care of https://incometaxindiaefiling.gov.in but got no help. Can you help me on how can I put the information related to Section 10 allowances? May be I am missing something here.

    Looking to get your views on this.

    Regards,
    Pankaj H.

    • http://www.planmoneytax.com Chandrakant Mishra

      Hi Pankaj
      Do you have Form 16 with you. If not you should get that. In the form 16 go the head ” income chargeable under the head of salaries’. It should be section 6. In this section the specified amount is after the considering those exemptions. Hence you have not to worry for that.
      If you have any further query please feel free to ask.

      Regards
      Chandrakant
      Like planmoneytax facebook page

      • Pankaj Hotwani

        Thanks Chandrakant for your prompt reply. This clears my confusion!

  • Nanthakumar

    I am a govt. employee.I did not pay advance tax for 2013-2014 i.e up to 15th Sep. and 15th Dec2013. But paid advance tax Rs.10300 in Jan2014. My TDS was Rs.20009. While efile my return, in prepare and submit online return, I entered all details. The Total tax payable is shown correctly as 20009 as in form 16. After that it populated amounts in interest payable U/S 234B and 234C as 600 and 730 respectively. But I have corrected to zero as it is editable. Is my action correct or not?. if I submit efile, will it be correct at this stage? or will it attract the sections U/C 234B and 234C and get notified by ITD. What should i do? whether I have to pay Int.payable u/s 234b and 234c before e filing? then How to calculate them ? and How to Pay online?

  • Nehal

    My annual salary is 3.5lakh and i got my form 16 from my company. Other than income i got 2000Rs from dividend of mutual fund and other stocks.
    I have to file my ITR 1, but i am not sure in which section should i put dividend amount in ITR-1 form.

    • http://www.planmoneytax.com Chandrakant Mishra

      Hi Nehal

      Under the ‘taxes paid and verification’ tab go to the D22 section and fill your dividend income there. This income is not taxable.

      Regards
      Chandraknt

    • http://www.planmoneytax.com Chandrakant Mishra

      Hi Mohsin
      Good news for you. You can mention your investment in the income tax return. You must show all of your 80C expenses whether it is in the form 16. You will get the refund of tax. Keep the receipt safe with you. IT department can ask for verification.

      I am more concerned about the premium of 1 lakh for the LIC. What is your objective of this? You may loose money.

      Regards
      Chandrakant
      Term Plan In Life Insurance- An Ultimate Guide For Selection

  • Rohit

    Hi Chandrakant,

    I Filled ITR for AY 2014-2015. After filling ITR i come to know that amount of medical exmption (Rs 5036) is not considered in form 16 for exemption under section 10. 16. Please let me know what i should do.
    Thanks,
    Rohit

    • http://www.planmoneytax.com Chandrakant Mishra

      Hi Rohit
      You can file revised return including medical exemption. Fill again the return as i have told.After column 21 there is column where you have to choose the revised instead of orginal. In column 23 give details of your previous faulty return. also You have to fill the medical exemption. All other process remais remain same.

      Regards
      Chandrakant

  • M Jason

    I filled in the Income details as per the Form 16 that I received from my employer. But D9 to D11 (Total Interest u/s 234A, 234B, 234C) were automatically populated with values hence Total Tax & Interest differs from what I have in Form 16 to what the system generated. I have the option to change the values for D9 to D11. Should I make them as Zero and proceed? Request you to let me know how to proceed further. Thanks in advance.

    • Sujoy

      Hi Jason,
      Once you have filled in your TDS part, these fields will be automatically adjusted and set to zero

  • ChandraKant Upadhyay

    I filed my ITR for FY-13-14 online. I got some interest( more than 10,000) on SB account which I declared under 80TTA and under other source income. While pay self assessment tax, I just chose a wrong Challan,instead of INCOME-TAX (OTHER THAN COMPANIES) challan no. 280, I paid it through 282( Interest tax). Now, after 10 months, I have received a notice for IT department under section 143 saying your ITR is not matching please pay the deficient amount(my self paid tax is not considered, instead, the same is demanded). However, the notice does say that amount X is miss matching under 300 major head and 24 minor head.
    Please advice me what should I do to change the minor and major heads rectified to 300 and 21( non-companies).

    Warm Regards
    Chandra Kant Upadhyay

    • http://www.planmoneytax.com Chandrakant Mishra

      Hi Chandrakant
      हवन करते हाथ जल गए!

      Now your redress authority is the assessing officer of income tax department. It is better to give a reply of your notice, apologizing for your inadvertent mistake. Attach proof of of your tax payment as well. The application will do the job, don’t worry.

      Regards
      Chandrakant
      Like Facebook page of planmoneytax

  • Nishant

    Hi, I am working as full time employee with a company from feb-2013, I have some 4.2 Lac CTC.
    i also do some part time work for an indian client, i have received a total payment of around 1.5Lac from part time work directly in my account in 2013-14.
    I have also borrowed some money from friends (20 k approx) in my account.

    1) Do i need to pay tax for full time income + Part time work + borrowed money.

    2) There is no TDS for the part time work, how to mention the part time income while filling ITR?

  • S Natraj

    I learnt today from IT website that my IT refund through SBI failed on 23.01.2014 and I discovered that this was owing to an error in bank IFSC code specified in my IT return that I e-filed. Please advise me whom to contact to rectify the error in IFSC code?

    • http://www.planmoneytax.com Chandrakant Mishra

      Hi Natraj
      Please login to IT efiling portal. Go to my accounts and select refund reissue. you can change your IFSC code there.
      Refund Bank detail rectification

  • Rajunanda

    Hi,

    I would like to thank you.
    I try it for the first time and its work.
    Your step by step snap shots really help.

  • raman kumar

    i filing my income tax return . how we get e filing password if i not a register person .

  • Girish

    Hi, I have 3 Queries. Would be greatful if you can help.
    1. I have 2 From-16 in the AY 13-14. the first company has considered a 80C deduction of Rs. 16164 and the 2nd company has considered a 80C of Rs.1 Lakh. Do I need to make any alteration in teh “income chargeable under the head salaries” section?
    2. I have done the quick e-return filing but have realized that i need to make a change in the total taxable income. I have not yet sent the ITR V by post. Should i file for a revised return?
    3. The TDS section of the Quick e-file is pre-filled & the although the Tax deductions (column 5) are matching with Form 26As, the column 4 (“income chargeable under the head salaries”) amounts do not match. Should I just fill from Form 16?

    Thanks again!
    GP

    • Chandrakant Mishra

      Hi Girish

      1 – You can’t claim 80C deduction more than one lakh rupees. Check if you have claimed same amount or different expense/investment in both the companies. Again when you fill the return. you have tile give your total income (from both the companies)in a financial year. Your investment deduction will be also the total amount.
      2- You should file the revised return and then send the revised ITR-V.
      3- TDS section shows your previous year details. Many times it remains same that is why it is filled. But you should go to your form 16 of both the companies and fill the details separately in two rows. As your both the companies must have different TAN and Name.

      Cheers

  • Dinesh

    Hai sir,
    I have filed my returns online. I entered wrong account no my ITR status was processed .and Refund send out to banker then refund unpaid..Kindly help me please what should i do for get my Tax Returns..

    • Chandrakant Mishra

      Hello Dinesh
      You have landed yourself in some problem. I will advise if it is a small amount then don’t bother. Else you have to visit income tax office, submit an application with the affidavit after that wait for the refund. This process will take time as well as you have to spend some money also.

  • Anonymous

    Got it. Thanks mate.

  • Ashish Singhi

    Thanks. It really helped.
    One question : I did not take the print out of ITR-1 before submitting, is there any way I can take it now ? I did not fill ITR-V infact I did not get the get the option to select it. So what should I post now ?

    It will very helpful if you can reply the above question by tomorrow, since tomorrow is the last date to file ITR.

    Regards
    Ashish

    • Chandrakant Mishra

      There is no need to take print of ITR-1. ITR-V would have been mailed to you also. check your inbox. You can also download it from your efiling page. Don’t Worry, You have already submitted your return before deadline. Now you have 120 days to send signed ITR-V.

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