How to File Income Tax Return (ITR) by your ownself – FAQ’s And Procedure

Section 139 of  Income Tax Act, 1961 specifies the persons who are under statutory obligation to file return of  Income. It is commonly observed that, many persons who are mandatory required to file Income Tax Return within specified period are not filing it, due to ignorance of law and face heat of notices received from Income Tax Department at later stage. Before starting of procedure, how to file ITR, some commonly observed errors done by assessee are as follows:

Q-1 I have formed a partnership firm/Company on 15/03/2019 and no business is done during the closing of year. Whether it is mandatory to file ITR?

Ans: Yes, as per Section 139 (1) (a), a company/ firm is required to submit its return of income (regardless of the quantum of income or loss).

Q-2 I am Individual and my Income from all sources is Rs.3,05,000/- and I have invested Rs.65000/- in LIC and Children School Fee which is deductible u/s 80c. Whether it is mandatory for me to file ITR because my net income is below taxable Exemption limit?

Ans: Yes, as per Section 139 (1) (b), read with fifth proviso, every individual/ Huf is mandatory to file Income Tax Return if its Gross Income Exceeds Exemption Limit (without claiming  deduction U/s 10A, 10B, 10BA, 80C to 80U)

Q-3 I am a salaried employee and works for first 6 Months in Company –A and earned Rs.150000/- as Salary and Joined Company B for Next 6 Months and Earned Rs.160000/- as Salary. Now my Total Salary is Rs.3,10,000/-. I have not declared my previous Salary Details to my Current Employer and no TDS has been deducted from my Salary. Whether I am required to file Income Tax Return?

Ans: Yes, it is mandatory for you to file your Income Tax Return.

Q-4 I am Salaried Employee and my Employer has deducted TDS from my Salary and deposited with Government. Whether it is mandatory for me to File ITR?

Ans: Yes, it is mandatory for you to file your ITR because your employer has deducted TDS on Salary Income or any other Income which is reported by you but there is high probability that, you have income from other sources like Income from House Property, Interest Income etc, which may raise your tax liability and you have to pay differential tax liability as Self Assessment while filing your ITR.

Q-5 I have missed the ITR Filing Due date. Whether, I can file my ITR Now?

Ans: Yes, you can file your ITR till 31 March of Assessment Year, however, you have to pay late filing Fee as applicable in your case. If your gross taxable income is below exemption limit, then you can file your ITR without paying any Late Filing fee.

There are lots of other Questions which may affect your tax liability and binds you to file your Income Tax Return

Procedure to file Income Tax Returns

1. Visit –

Income Tax Returns Filing Procedure 1

2. Go to Download section of Portal and Download Free ITR Filing Software

Income Tax Returns Filing Procedure 2

3. Select the ITR Form as Applicable to you depending on the nature of Income earned during the previous year. There is 2 Types of Software – Excel Based and Java Based. Download anyone out of these 2. Jave Based software is recommended for ITR Filing Purpose. After downloading the software run this on your System.

4. Now Provide details as required by ITR Form as applicable on you

Income Tax Returns Filing Procedure 3

5. Now Provide Income Details as required by specific Income Head

Income Tax Returns Filing Procedure 4

6. Now provide TDS Details and Advance Tax/ Self Assessment Tax Paid by You

Income Tax Returns Filing Procedure 5

7. Now Automatically, you Income Tax Liability will be calculated by software based on the information provided by you

Income Tax Returns Filing Procedure 6

8. Now Provide, your all bank account details and after which fill verification form before final Submission

Income Tax Returns Filing Procedure 7

9. Now save the details and Generate XML File or you can directly press submit button after which it requires your Income Tax Site User id and Password, after successful validation, your ITR is filed

Income Tax Returns Filing Procedure 8

10. If you are filing your ITR through XML Mode then login to your Income Tax Account with your credentials. After login click on E-File Link and click on Income Tax Return

Income Tax Returns Filing Procedure 9

11. Now Select your Assessment Year and Serial Number of Form from which XML has been Generated.

12. After successful uploading of your ITR, you will receive SMS And Mail on your Registered Mail and Mobile No.

Income Tax Department has made ITR Filing work very easy by using Latest Technology. Due to which, this Year a record number of ITR has been filed on last date without any technical glitch.

Disclaimer: Dear readers, Income Tax department has made ITR Filing Procedure very easy but Income Tax Law is not that easy. A small mistake while filing ITR may lead to Income Tax Scrutiny Notice in your Hand. So file filing ITR from your own self, kindly read Income Tax Provision as applicable to you properly, otherwise it invites many consequences. It is advised that, if you are not aware about Income Tax Provisions, it is better to consult a Tax Expert. It is old saying that, “Prevention is better than Cure”

This article is for the purpose of information and shall not be treated as solicitation in any manner and for any other purpose whatsoever. It shall not be used as legal opinion and not to be used for rendering any professional advice. This article is written on the basis of author’s person experience. Adequate attention has been given to avoid any clerical/arithmetical error, however; if it still persist kindly intimate us to avoid such error for the benefits of others readers.

The Author can be reached at mail – and Mobile/Whatsapp – 9911303737

Author Bio

Qualification: CA
Company: Shiv Kumar Sharma & Associates
Location: Delhi, Delhi, India
Member Since: 03 Dec 2018 | Total Posts: 116
My Self CA. Shiv Kumar Sharma. I am a member of "The Institute of Chartered Accountants of India" since 2012. Currently, I am in Practice and dealing in Direct and Indirect taxation along with ROC Compliances. I am writing Articles for, and in the expert panel of ca View Full Profile

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    I as an old man find it difficult to even choose the correct ITR every year as the criteria keep changing, leave alone the empty talk of filling and filing being made easy

  2. MK venkatraman says:

    1. Under section 112A. LTCG is to be paid where STT is paid both on purchase and sale of equities. What about the shares acquired by ESOP or out of market transactions? Procedure for computation, rate of tax and in which column in Form no 2 to be shown?

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