{"id":5380,"date":"2023-03-03T11:11:28","date_gmt":"2023-03-03T11:11:28","guid":{"rendered":"https:\/\/www.caindelhiindia.com\/blog\/?p=5380"},"modified":"2023-06-23T12:38:44","modified_gmt":"2023-06-23T12:38:44","slug":"online-income-tax-e-filing","status":"publish","type":"post","link":"https:\/\/www.caindelhiindia.com\/blog\/online-income-tax-e-filing\/","title":{"rendered":"Online Income Tax E-filing &#038; Its Benefit"},"content":{"rendered":"<h2><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-5027\" src=\"https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2022\/10\/Income-tax-Compliance.jpg\" alt=\"Income tax Compliance\" width=\"962\" height=\"640\" \/><\/h2>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_58 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<p class=\"ez-toc-title\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-69eae1c78166f\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-69eae1c78166f\"  aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.caindelhiindia.com\/blog\/online-income-tax-e-filing\/#Point_to_be_taken_care_while_filling_Online_Income_Tax_E-filing\" title=\"Point to be taken care while filling Online Income Tax E-filing\">Point to be taken care while filling Online Income Tax E-filing<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.caindelhiindia.com\/blog\/online-income-tax-e-filing\/#Online_Income_Tax_E-filing_%E2%80%93_Benefit\" title=\"Online Income Tax E-filing &#8211; Benefit\">Online Income Tax E-filing &#8211; Benefit<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.caindelhiindia.com\/blog\/online-income-tax-e-filing\/#ITR-1_for_AYFY_2023-242022-23_is_available_now_on_Income_Tax_portal\" title=\"ITR-1 for AY\/FY 2023-24\/2022-23 is available\u00a0now on Income Tax portal\u00a0\">ITR-1 for AY\/FY 2023-24\/2022-23 is available\u00a0now on Income Tax portal\u00a0<\/a><ul class='ez-toc-list-level-3'><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/www.caindelhiindia.com\/blog\/online-income-tax-e-filing\/#Our_Services\" title=\"Our Services :\u00a0\">Our Services :\u00a0<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Point_to_be_taken_care_while_filling_Online_Income_Tax_E-filing\"><\/span><span style=\"color: #000080;\">Point to be taken care while filling Online Income Tax E-filing<\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ul>\n<li>Confirm that the pre-filled details are correct by verifying PAN, permanent address, contact information, bank account information, etc. Find the appropriate return for you (from ITR-1 to ITR-7). Provide all pertinent information in the return, including the total amount of income, any deductions, any interest payments, any taxes paid or collected, etc.<\/li>\n<li>Safety measures must to be taken before filing an ITR :\u00a0The income tax return should not contain any additional papers. The taxpayer needs to determine which return form is appropriate in his situation. Complete the return form&#8217;s information with care. Verify the total income, any deductions, interest, tax liability, refund, and other computations.<\/li>\n<\/ul>\n<ul>\n<li><em>taxpayers should compare the data in their AIS statement with their bank passbook, interest certificate, Form 16 &amp; capital gains statement from brokerages also In the case of the purchase and sale of equity\/mutual funds.<\/em><\/li>\n<li>State details of all Indian bank accounts<\/li>\n<li>Complexly mentioned your details of unlisted equity shares<\/li>\n<li>All the details bout directorship carried in foreign companies as well as Indian.<\/li>\n<li>The schedule liabilities and assets: the details of the specified assets like movable assets, land, building etc, &amp; financial assets (shares &amp; securities, bank deposits, cash in hand, etc.), as well as the liabilities, required to be disclosed if income of person is more than INR 50,00,000\/-.<\/li>\n<li><em>The finance Ministry has been sending out reminders to taxpayers via email, SMS, and media campaigns, advising them to not wait until the last minute to file their income tax returns. <\/em><\/li>\n<li><em>To help taxpayers with e-filing ITRs, the Directorate of Systems is hosting webinars for frontline department staff (ASK Centres and TPS).<\/em><\/li>\n<li><em>The Directorate of Systems, in coordination with Infosys personnel, is using the ICAI platform to promote knowledge about how to resolve issues that arise during the e-filing process. <\/em><\/li>\n<li><em>ITD has created educational videos on its YouTube channel for the benefit of taxpayers.<\/em><\/li>\n<li><em>All income tax taxpayers who have not yet filed their ITRs returns for the FY are urged to do so as soon as possible.&#8217;<\/em><\/li>\n<\/ul>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-5803\" src=\"https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2023\/03\/salar-IR.-.jpg\" alt=\"ITR 1 filling\" width=\"966\" height=\"946\" srcset=\"https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2023\/03\/salar-IR.-.jpg 966w, https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2023\/03\/salar-IR.--300x294.jpg 300w, https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2023\/03\/salar-IR.--768x752.jpg 768w, https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2023\/03\/salar-IR.--800x783.jpg 800w\" sizes=\"(max-width: 966px) 100vw, 966px\" \/><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Online_Income_Tax_E-filing_%E2%80%93_Benefit\"><\/span><span style=\"color: #000080;\">Online Income Tax E-filing &#8211; Benefit<\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Tax E-filing has been made mandatory by the Govt of India. The Income tax process is very simple as compared to previous paper base filing process. The Benefit of Online Income Tax filing are mentioned below :<\/p>\n<h2><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-20073\" src=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2021\/12\/Seven-Reasons-to-file-ITR1.jpg\" alt=\"Seven -Reasons-to-file-ITR\" width=\"869\" height=\"1289\" \/><\/h2>\n<ul>\n<li>Every year on July 31st, tax returns have to be submitted. Clients can complete the task more rapidly and with less congestion if they submit it one or two months before the deadline because servers tend to be become overloaded as the deadline draws near.<\/li>\n<li>Online tax return filing allows the taxpayer to more effectively maintain track of all financial transactions with the Tax Department.<\/li>\n<li>If the Income tax taxpayer later needs to conduct business with any other organisation that maintains such information, this record may come in handy.<\/li>\n<li>The Income taxpayer is responsible for paying penal interest for each additional day until the day that the payment is made if he is unable to file an ITR for the preceding year.<\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"ITR-1_for_AYFY_2023-242022-23_is_available_now_on_Income_Tax_portal\"><\/span><span style=\"color: #000080;\"><strong><span style=\"font-size: large;\">ITR-1 for AY\/FY 2023-24\/2022-23 is available\u00a0now on Income Tax portal\u00a0<\/span><\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-5857\" src=\"https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2023\/03\/ITR-last-date.jpg\" alt=\"ITR last date 2022-2023\" width=\"1080\" height=\"852\" srcset=\"https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2023\/03\/ITR-last-date.jpg 1080w, https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2023\/03\/ITR-last-date-300x237.jpg 300w, https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2023\/03\/ITR-last-date-1024x808.jpg 1024w, https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2023\/03\/ITR-last-date-768x606.jpg 768w, https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2023\/03\/ITR-last-date-800x631.jpg 800w\" sizes=\"(max-width: 1080px) 100vw, 1080px\" \/><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Our_Services\"><\/span><span style=\"color: #000080;\"><strong>Our Services :\u00a0<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ul>\n<li>Financial Reporting &amp; Compliances: Setting Up, Running and Supervising Financial Accounting, Tax Payments (Direct, Indirect and Employee Related), including MIS, Interim Financial Statements, Data Analytics and More\u2026<\/li>\n<li>Risk Management &amp; Internal Audit: Review of Operations, Illustrative Coverage in Business Processes, Management Issues tailored as per your needs.<\/li>\n<li>Advisory Services: Business Strategy, Corporate Restructuring, Corporate Finance, Shareholder Wealth Management, Corporate Governance, Building Accounting Manuals, Global Accounting Services.<\/li>\n<li>Taxation: Transactional advice and tax planning relating to Corporate, Non-Corporate Entities etc.<\/li>\n<li>Valuations: Business Valuation, Real Estate, Brands, Intangible Assets, Securitization etc.<\/li>\n<li>Legal Advisory &amp; Support: We support in managing your litigations by coordinating with lawyers on our panel or as identified by client to offer support and systematic approach.<\/li>\n<li>Regulatory Filings: Filings with MCA (ROC), RBI, FEMA, FCRA, Municipal Corporation, Sub Registrar<\/li>\n<li>Funding: We offer solutions to raise Debt from Banks, NBFCs and Equity from Angel Investors, Growth Funds, Venture Funds, and even Private Equity and from Primary Markets like NSE, BSE<\/li>\n<\/ul>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-5898\" src=\"https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2022\/07\/TAX-fillingAY-23-24.jpg\" alt=\"TAX filling AY 23-24\" width=\"1080\" height=\"782\" srcset=\"https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2022\/07\/TAX-fillingAY-23-24.jpg 1080w, https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2022\/07\/TAX-fillingAY-23-24-300x217.jpg 300w, https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2022\/07\/TAX-fillingAY-23-24-1024x741.jpg 1024w, https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2022\/07\/TAX-fillingAY-23-24-768x556.jpg 768w, https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2022\/07\/TAX-fillingAY-23-24-800x579.jpg 800w\" sizes=\"(max-width: 1080px) 100vw, 1080px\" \/><\/p>\n<p>Popular blogs :<\/p>\n<ul>\n<li><a href=\"https:\/\/carajput.com\/blog\/corporate-and-professional-update-april-1-2016\/\">F&amp;Q on NRI Income Tax Compliance (Help Centre)<\/a><\/li>\n<li><a href=\"https:\/\/carajput.com\/blog\/key-provisions-of-nri-taxability\/\">Key Provision for <\/a><a href=\"https:\/\/www.caindelhiindia.com\/blog\/income-tax-deductions-to-nri-in-india\/\">NRI Taxation<\/a><\/li>\n<li><a href=\"https:\/\/carajput.com\/blog\/tax-implications-for-nris-who-want-to-sell-property-in-india\/\">Tax implication for NRI on selling property<\/a><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Point to be taken care while filling Online Income Tax E-filing Confirm that the pre-filled details are correct by verifying PAN, permanent address, contact information, bank account information, etc. Find the appropriate return for you (from ITR-1 to ITR-7). Provide all pertinent information in the return, including the total amount of income, any deductions, any &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mi_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[142],"tags":[178,725],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/posts\/5380"}],"collection":[{"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/comments?post=5380"}],"version-history":[{"count":5,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/posts\/5380\/revisions"}],"predecessor-version":[{"id":5382,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/posts\/5380\/revisions\/5382"}],"wp:attachment":[{"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/media?parent=5380"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/categories?post=5380"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/tags?post=5380"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}