Monday, July 27, 2015

Steps to Pay Income Tax Online? - Step by Step Guide

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Do you know you can pay income tax online? Yes! Now, there is an option of paying your income tax without going anywhere. Want to know how to do it? Here is thorough information of it. Have a look at it once.

How to Pay Income Tax Online? - Step by Step Guide

Pay Income Tax Online
1. Go to the official website of Income Tax Department  http://www.incometaxindiaefiling.gov.in.
 
2. Log in to the website by entering your ID and password.
 
3. If you don’t have registered yet then register yourself with your PAN (Permanent Account Number). It will be used as your ID.
 
4. After you log in to your account, click on the Download menu and go to the “E-Filing AY 2014-15 individual/HUF" and choose the correct Income Tax Return (ITR) form. Moreover, download ITR – 1 return preparation software if you are a paid individual, pensioner, or own one house property or earn interest income.
 
5. Open the Return Preparation Software and follow the instructions given. Enter the details with the help of Form 16.
 
6. Calculate tax by pressing “Calculate Tax” tab. Pay tax and then you have to enter the details of challan in the tax return. It is not related if your tax liability is nil.
 
7. Now, you need to confirm the details by clicking on “Validate” button. Then go further to create the XML file. The file will be automatically saved on your computer.
 
8. Go to the “Submit Return” on the portal’s left side and then upload the XML file after choosing AY 2014-2015 and applicable form.
 
9. Now, you will be asked to select an option for digital sign. If you have acquired digital signature then select YES or choose NO.
 
10. After that you will see “Your return has been successfully uploaded” on the screen. You can download the form and it will be mailed to your registered mail as well.
 
11. Sign on the print out of your form ITR-V and send it by ordinary or speed post to the income tax department CPC, Post Bag No 1, Electronic City Post Office, Bangalore – 560 100, Karnataka. Submit the form within 120 days of uploading your e-return.
 
12. Then the IT department will send you the acknowledgement by email and it is the last step of this procedure.

Pay your income tax online today. 


Update :- Check out how to generate Electronic Verification Code (EVC) to file Online Income Tax Return File. Now you can file income tax return online too, just follow above link and get details now.

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