How to File Income Tax Return Online and Offline?
Individuals who received more than a certain amount in the previous year are subject to Income Tax in India. The amount of tax you pay is determined by your income class. The income slabs substantially altered under the new taxation scheme. Individuals, Hindu Undivided Families (HUFs), Bodies of Individuals (BOIs), Associations of Persons (AOPs), businesses, and companies are all required to pay Income Tax in India if they earn taxable income. Income tax deductions are reductions in your tax obligation from your total taxable income that tend to lower your net taxable income and thereby decrease your tax liability. Taxpayers can deduct defined assets and expenses under a variety of parts of the Income Tax Act of 1961.
In addition to lower tax rates, the new tax regime would exclude 70 of the nearly 100 deductions and exemptions that are currently applicable. Individual taxpayers will be unable to claim many of the current deductions under the different provisions of the Income Tax Act to minimize their taxable income under this framework.
Comparision of Old tax Regime and New tax Regime
Here's a brief rundown of the differences between the old taxation system and the new tax model.
| Income (in Rs.) | Old tax rates | New tax rates |
| Up to Rs. 2.50 lakhs | No Tax | No Tax |
| Rs. 2,50,001 to Rs. 5,00,000 | 5% | No Tax |
| Rs. 5,00,001 to Rs. 7,50,000 | 20% | 10% |
| Rs. 7,50,001 to Rs. 10,00,000 | 20% | 15% |
| Rs. 10,00,001 to Rs. 12,50,000 | 30% | 20% |
| Rs. 12,50,001 to Rs. 15,00,000 | 30% | 25% |
| Above Rs. 15,00,000 | 30% | 30% |
How to File Income Tax Return Offline?
The offline mode is where you download the appropriate ITR, fill out the form offline, save the XML file, and then upload it. To use the upload XML form to e-file the ITR, the user must first download one of the following ITR utilities:
- Java Utility
- Excel Utility
You can easily file your taxes using the income tax return e-filing option. The steps to filing your income tax return electronically are as follows:
Step 1: Go to Income Tax e-Filing portal www.incometaxindiaefiling.gov.in
Step 2: Click Downloads - IT Return Preparation Software (Download the Appropriate ITR)
Step 3: Open the Utility from the extracted folder after extracting the utility ZIP file.
Step 4: Fill in all the mandatory fields of the ITR form.
Note: Pre-filled XML can be downloaded from 'My Account > Download Pre-Filled XML' after logging into the e-Filing portal and imported into the utility to prefill personal and other usable data.
Step 5: Validate all the tabs of the ITR form and Calculate the Tax.
Step 6: Generate and Save the XML.
Step 7: Login to e-Filing portal by entering user ID (PAN), Password, Captcha code
Step 8: Click 'Login'.
Step 9: Click on the 'e-File' menu and click 'Income Tax Return' link.
Step 10: On Income Tax Return Page:
- PAN will be auto-populated
- Select 'Assessment Year'
- Select 'ITR form Number'
- Select 'Filing Type' as 'Original/Revised Return'
- Select 'Submission Mode' as 'Upload XML
Step 11: Choose any one option to verify the Income Tax Return
Step 12: Click 'Continue'
Step 13: Attach the ITR XML file.
Step 14: As a form of verification:
- DSC may be used. Attach the DSC management utility-generated signature file.
- Enter the Aadhaar OTP obtained in the mobile number registered with UIDAI as a verification option.
- Enter the EVC that was sent to the mobile number associated with your bank or demat account.
Step 15: Submit the ITR.
How to File Income Tax Return Online?
Fill out the requisite details on the e-filing portal and send it. ITR 1 and ITR 4 can be filed electronically by taxpayers.
Step 1: Go to the Income Tax e-Filing portal, www.incometaxindiaefiling.gov.in
Step 2: Login to e-Filing portal by entering user ID (PAN), Password, and click 'Login'.
Step 3: Click the 'Income Tax Return' link under the 'e-File' menu.
Step 4: On Income Tax Return Page:
PAN will be auto-populated
- Select 'Assessment Year'
- Select 'ITR Form Number'
- Select 'Filing Type' as 'Original/Revised Return'
- Select 'Submission Mode' as 'Prepare and Submit Online
Step 5: Click on 'Continue'
Step 6: Fill all the mandatory fields of the Online ITR
Step 7: In the 'Taxes Paid and Verification' tab, select the required Verification option.
Step 8: Click on 'Preview and Submit' button, Verify all the data entered in the ITR.
Step 9: 'Submit' the ITR.
How to e Verify Income Tax Return?
When you select the 'I'd like to e-Verify' option, you can e-Verify using any of the methods below by entering the EVC/OTP when prompted.
under My Account- EVC generated through bank ATM or Generate EVC option
Aadhaar OTP
Prevalidated Bank Account
Prevalidated Demat Account
Otherwise, the Income Tax Return (ITR) would be auto-submitted if the EVC/OTP is not entered within 60 seconds. Later, using the 'My Account > e-Verify Return' option or by submitting a signed ITR-V to CPC, the submitted ITR should be verified.