After today you have only two days to file ITR for the assessment year 2020-21 (FY 2019-20). January 9 and 10. After this date, if you file the return, then you will have to pay double the fine. Let me tell you that due to the rise of Corona, its date has gone up to 31 December 2020 and now 10 January 2021. Today, till 12 noon on Friday, more than five crore ITRs have been filed. At the same time, 2,09,235 ITRs were filed till 12 noon today. If you are still late, then be alert and file ITR early. You can also file your income tax return online. Before that, you have to keep some documents ready.
If you are employed, then take Form 16A from your employer. It contains details of tax deducted (TDS) and information given by you to the employer. Apart from this, fill Form 15H to the bank for all those who are employed, pensioners and self-employed and keep a certificate of interest from it. Form 15H is a kind of declaration that contains information that your income does not come under the tax net. If not, banks deduct TDS. At the same time, interest of more than 10 thousand rupees is taxed. In this case, it will be easy for you to assess if you have an interest certificate. Apart from this, details of investment in insurance policy, EMI of home loan and other tax exempt investment documents should be prepared. This does not make it difficult to fill online returns. At the same time, time is also less.
How to fill ITR online
1. Go to e-filing portal of income tax and login with user ID (PAN number), password and captcha code.
2. Click on the ‘e-File’ menu and then click on the link for ‘Income Tax Return’.
3. The PAN itself will appear filled on the Income Tax Return page.
4. Now select ‘Original / Revised Return’ in Assessment Year, ITR Form Number, Filing Type. After that click ‘Prepare & Submit Online’ in submission mode.
5. Then click on ‘Continue’. Now read the guidelines carefully and fill the form carefully after reading it.
6. After filling the form, select the appropriate verification option in the ‘Tax Paid and Verification tab’.
7. Then click on the ‘Preview and Submit’ button.
8. If you have opted for ‘e-verification’, then you can complete e-verification through either of EVC or OTP.
9. If your PAN is linked with Aadhaar and the mobile number is linked then complete the e-verification with OTP.
9. Once the verification process is complete, you can submit the ITR.
10,000 rupees fine after January 10
Let me tell you, if you do not make income tax return on time, then the department is fined. If the tax payers file the returns after January 10, then late fees of Rs 10,000 will be paid. Apart from this, such taxpayers, whose income is not more than 5 lakh, have to pay only 1000 rupees as late fee.