Income Tax Return

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E-Filing Income Tax Returns Online in India – A Quick Overview

Filing income tax is a fundamental responsibility of every Indian citizen. Thanks to modern technology, the process has become much more convenient—now you can file your income tax return online, anytime, with speed and accuracy.

However, e-filing through the official government portal requires selecting and completing the correct Income Tax Return (ITR) form. These forms range from ITR-1 to ITR-7, each designed for specific income types and taxpayer categories. For example, salaried individuals and self-employed professionals use different ITR forms.

Filing the wrong form or making even a small error in the submission can lead to delays or rejections. That’s why professional assistance is often essential.

At Expert Mantra, we specialize in filing income tax returns for both individuals and businesses. With our experienced team handling the process, you can rest assured that your tax filing will be accurate and on time.

To begin, simply share the following documents with us.

Documents Required for ITR Return File

Checklist for Income Tax Return Filing (ITR return)

As per Section 139(1) of the Income-tax Act, 1961, every individual whose total income during the previous financial year exceeds the basic exemption limit must file their income tax return online.

To put it simply, if your annual income exceeds ₹2.5 lakhs, ₹3 lakhs, or ₹5 lakhs (depending on your age category), you are required to file an ITR.
Let Expert Mantra simplify the process for you with expert guidance and a hassle-free online filing experience.

Benefits of E-Filing of Income Tax Return

Loan Approval: Whether it’s an education loan, car loan, or personal loan, banks often ask for the past three years’ ITR documents. Filing your returns through Expert Mantra makes this process smoother and increases your chances of loan approval.

Visa Processing: Immigration authorities require thorough documentation, including ITR proofs. Filing your returns with Expert Mantra ensures you have the necessary paperwork ready for visa applications.

Avoiding Penalties: Non-filing of ITR can lead to hefty fines and legal troubles. Expert Mantra helps you stay compliant and avoid unnecessary penalties by ensuring timely and accurate ITR filing.

Why Choose Expert Mantra

Last Date for Filing Income Tax Returns

The income tax return currently being filed pertains to the earnings from the financial year 2022–23, i.e., income earned between April 1, 2022, and March 31, 2023. To avoid a late filing penalty, it must be submitted on or before July 31, 2023.

Who Should File an Income Tax Return?

As per the Income Tax Department, the following individuals and entities must file annual income tax returns:

1. Salaried Individuals whose gross income exceeds the basic exemption limit, before claiming deductions under Sections 80C to 80U.
2. Businesses and Firms, including private limited companies, LLPs, and partnership firms, must file returns annually—regardless of whether they’ve made a profit or incurred a loss.
3. Company Directors and LLP Partners—anyone holding a directorship in a private limited company or partnership in an LLP—is required to file a return.
4. Individuals with Passive Income such as dividends from mutual funds, shares, interest from fixed deposits, bonds, or other investment instruments.
5. Recipients of Income from Charitable or Religious Trusts, including voluntary contributions or donations.
6. Individuals and Entities Claiming Tax Refunds must file a return to process their refund request.
7. NRIs and Professionals on Foreign Assignments, as well as anyone with overseas income or foreign assets, are also obligated to file returns.

Frequently Asked Questions…

What are the consequences of submitting incorrect details in my Income Tax Return (ITR)?

Providing incorrect information in your ITR can lead to penalties, interest on unpaid taxes, and even prosecution in serious cases. It’s important to file accurate data to avoid legal and financial complications.

Is it possible to file an Income Tax Return if I earn from multiple income sources?

Yes, you can file your ITR even if you have income from different sources like salary, business, rental property, capital gains, or freelance work. Ensure all sources are disclosed accurately under the relevant heads of income.

Can I still file my Income Tax Return after the due date?

Yes, you can file a belated return after the due date under Section 139(4). However, late filing may attract penalties and interest on any due tax amount. Also, some deductions and carry-forward losses may not be allowed.

Am I allowed to revise my Income Tax Return after submission?

Yes, if you discover any mistake or omission in your filed return, you can revise it under Section 139(5) before the end of the assessment year or before the return is processed, whichever is earlier.

Can I claim deductions when filing my income tax return?

Absolutely. You can claim deductions under various sections like 80C, 80D, 80G, and more, which can reduce your taxable income. Ensure you have proper proof or documents to support your claims.

Is it compulsory to link my Aadhaar with my income tax return?

Yes, linking your Aadhaar with your PAN is mandatory for filing ITR in India. Returns filed without linking may be considered invalid, and processing could be delayed or rejected.

Can I take the help of a professional to file my Income Tax Return?

Yes, taxpayers can consult chartered accountants, tax consultants, or authorized e-filing platforms to assist in filing their returns accurately and in compliance with tax laws.

Why should I file an ITR if my income is below the taxable limit?

Even if your income is below the taxable threshold, filing an ITR can be beneficial. It acts as proof of income, helps with visa processing, enables you to claim tax refunds, and is often required when applying for loans or government tenders.

Is it possible to e-file my ITR without using a digital signature?

Yes, individuals can e-file their ITR without a digital signature by verifying the return through Aadhaar OTP, EVC (Electronic Verification Code), or by sending a signed physical ITR-V form to the CPC office in Bengaluru.

What should I do if I find errors or missing information in my submitted ITR?

You can correct any errors or omissions by filing a revised return under Section 139(5) before the end of the relevant assessment year. Make sure to use the acknowledgment number of your original return when revising.