Am I e-filing the return correctly?


Are you e-filing the return correctly? Most taxpayers wait till the last minute, to file their returns. This has been increased among taxpayers as they can now file their return at anytime, and this was not possible when the return was filed manually. More often than not, such returns are filed in hurry, and the taxpayers tend to make mistakes while filing them.

Due to the recent amendment by the Finance Minister to mandate e-filing of returns by people having taxable income more than  INR 5 lacs, there would be a remarkable increase in the population who would be e-filing the returns.

As we are again at the tax filing time of the year, some important points would ensure an error-free tax return filing.

1) Login details:

If you are deciding to file your returns electronically, then first register yourself on the income tax website. If you are already registered, check if your account is active to avoid other errors at last minute.

2) Accurate Personal information:

Name and PAN: Name and correct PAN card number should be provided.

Date of Birth:  Provide Correct official date of birth that is written on your mark sheet.

Email Address: This is the basis of all communication from CPC. The mistake will result in nonreceipt of all intimations from CPC. The use of an Auditor/Tax practitioner’s id should be avoided for e-filing.

Address: House/flat no, city, pin code are compulsory fields. Inaccurate details filled in these section will result in refund delays.

Mobile No: The correct mobile number should be entered for communication.

Residential Status: The permanent residential address should be mentioned, and Non-resident should be mentioned as they are not applicable for certain benefits available to Resident taxpayers.

Bank Account: Accurate details of the bank account should be provided regarding the filing of ITR.

3) Correct Form of return

Central Bank of Taxes (CBDT) gives a form every year, and that should be correctly filled. There are 8 Income Tax Return (ITR) forms, which are prescribed by CBDT, and depending on the various streams of income, the correct form should be picked. Form ITR 1 (Sahaj) is applicable for individuals who have salary income, income from other sources, and income from one house property, Form ITR 2 is applicable for individuals and HUFs who have salary income, income from other sources, capital gains/ loss, income from one house property and also having foreign assets and so on.

4) Income details

Be very accurate while telling the exact income and you can’t fool the bank by your income, the approximation cannot be accepted. If you are very proper regarding the income you can overcome the further notices that you are going to get.

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