By Vikas Dahiya
Filing income tax return is a harrowing and time-consuming process for many taxpayers. One has to jump through several hoops to file one’s I-T return. This process can take up from a few hours to a whole day. You can either do it yourself or can take professional assistance to complete the task. However, while the first process is time-consuming, the other one is not budget-friendly.
Thankfully, with the advent of technology, new ways to file income tax returns have been discovered. Now you can file your return without an expert’s advice and that too in a few minutes. Here’s how you can file your tax return online by following these simple steps:
There are various websites making tall claims of filing ITR in a few minutes. However, all such claims may not be true. You can also log in to the Income Tax Department’s website to file your return. At All India ITR (http://www.allindiaitr.com/) also we have designed a system whereby you can file your return within a few minutes. For this, you need to get registered with All India ITR and follow these steps to complete your e-filing quickly.
Step 1. Click Upload Form 16 tab
Step 2. Upload Form 16 – Data from your Form gets auto-imported.
Step 3. Provide bank details and save.
Step 4. E-file your income tax return.
Does it take more than five minutes?
Watch this video:
Documents required for Tax E-Filing
While filing tax you should have certain documents ready. These documents are as follows:
1. Bank Account Details
2. Your Pan Card Number
3. Aadhaar Card Number (mandatory from 1st July)
4. In the case of reporting salary Income:
# Rent receipts to claim HRA (House Rant Allowance), if not mentioned in Form 16.
# Form 16 as given by your employer
5. In the case of listing income from House Property:
# Address of the house property owned
# Details of the co-owner and his/her shares of the property along with PAN details.
# If you have taken a home loan, the certificate must be provided.
# If the property was under construction when purchased, mention the date of completion of construction.
# In case you have rented the property, mention the income from rent and tenant.
6. Documents to mention while listing Capital Gains:
# Stocks – Trading Statement and purchase details to be provided.
# House or Property – On the sale of the property, sale price, purchase price, details of registration and capital gain detail.
# Mutual Fund – Details of mutual fund statement, sale and purchase of equity funds, debt funds, ELSS and SIPs.
7. Reporting Income from Other Sources:
# The income from interest must be reported. A bank statement is required in case of interest accumulated in the savings account.
# Interest from corporate bonds and tax saving bonds
# Details of income from post office deposit.
Getting a Tax Expert to File for you
If you feel that the above process is a little complicated, there are various portals that file returns on your behalf. All India ITR, a government-authorized intermediary, is one such portal. All you need to do is to upload your Form 16 and the computation and filing of your ITR will be done by a tax expert. The process doesn’t take more than 3-4 minutes to complete.
(The author is founder and CEO of All India ITR)