How to File ITR For FY 2019-20: Step-by-Step Guide For Income Tax Returns Filing Online Before December 31, 2020

Team Latestly
·2-min read

Mumbai, December 23: The last date to file your income tax return (ITR) for the financial year 2019-20 is approaching and it is on December 31. Amid the coronavirus outbreak, the Income Tax Department had extended the due date for filing the ITR several times, to ease the tax-filing process for assessees in view of the coronavirus crisis. Normally, the date for filing ITRs for all assessees whose accounts are not required to be audited is July 31.

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In case, you haven't started the process yet, you need to hurry up. Remember to keep all your documents ready and in handy. From your bank statement, Form-16 and other investment-related documents keep it ready before you start filing. Income Tax Return Filing Date For Financial Year 2019-2020 Extended Till December 31 For Individual Taxpayers.

Below is a step-by-step guideline for you to file your ITR:

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  1. Register yourself on incometaxindiaefiling.gov.in After you register, then select the relevant form and the assessment year, for which the return has to be filed.

  2. Below are the ITR forms, which needs to be filed based on your income criteria. For e.g. ITR-1: It is the Income Tax Return Form for salaried individuals (i.e. salary/pension/family pension and interest income). ITR-2: It is a form for those earning capital gains. ITR 3, 4 and 4S: This is a form for professionals and business owners.

  3. Pay Income Tax due, if any, then recalculate the tax and hit the ‘Submit’ button.

  4. Cross-check the information, before selecting the final submission.

  5. Signature: The Department asks you whether you want to digitally sign your return, if you choose ‘Yes’, then you need to upload your signature, which needs to be pre-registered at the Income Tax website. You can do it via uploading Aadhaar signature option. For those who don't have digital signature can verify their return either electronically using Aadhaar OTP or Electronic Verification Code Method or by sending it to Income Tax Department-CPC, Post Bag No - 1, Electronic City Post Office, Bangalore - 560100, Karnataka by ordinary or speed post within 120 days of filing your returns electronically.

    Don't miss the deadline, or else you will end up paying a penalty.