Step by Step guide to e file ITR

1. Go to any website that aids e-filing of your Income Tax Return eg: www.cleartax.in




2. Create an account by typing in your email address and choosing a password




3. Fill in Permanent Information such as your Name, PAN number, Date of Birth and Father's Name.




4. If you earn Income from Salary, then specify the Income charge-able under the head ‘Salary’. Also specify the name of your employer.




5. If your employer has deducted TDS, specify the amount they deducted. Also specify their TAN number and Address. You should find this in your Form 16 Click on "Save" to continue. If you have multiple Form-16s (In case you have you changed jobs during the year), then click on the bottom right where it says "I want to add another Form-16".




6. If you earn Income from Bank Interest, Fixed Deposits, etc - you can declare this income here. Specify the total Interest earned by you during the Financial Year 2011-12.




7. For those who pay an EMI on housing loan, you can claim the Interest paid on the loan as a tax deduction. The upper limit is Rs. 1,50,000 on Self Occupied House Property (House that is your residence). You can skip ahead if you don't own a House Property.




8. Similarly, if you have a Rental Property from which you earn Rent, you can add this information. Skip ahead if you don't own a rental property.




9. Deductions Under Section 80: Specify total amount invested in Section 80C. This can include payments for LIC, PPF, NSC etc. Also school fees for children. You can claim the principal amount of your housing loan. The limit is Rs. 1 Lakh. You can declare your charitable donations which are tax deductible under Section 80G.




10. More Deductions Under Section 80: You can specify other deductions such as Section 80D (For medical insurance), Section 80E (For Interest paid on education loan), Section 80DD, Section 80U, Section 80CCC, Section 80CCF, Section 80DDB, Section 80GG etc.




11. Bank Details for getting your Income Tax Refund: You need to specify your Bank Account number to the Income Tax Department. For this you need your Bank Account Number and your MICR code.




12. Review your Income Tax Return before filing: You should review your Income Tax Return by looking at the Word Report and the ITR PDF preview offered by ClearTax. Make sure everything is correct before actually e-filing your Income Tax Return.




13. Final Step: E-file your Income Tax Return. Once you click this button, ClearTax submits your Income Tax Return to the Income Tax Department server. 14. The Income Tax Department will send you ITR-V after a few days to your email address. Sign and send this to CPC, Bangalore. Detailed guide for signing and sending your ITR-V to CPC, Bangalore is provided here.




14. The Income Tax Department will send you ITR-V after a few days to your email address. Sign and send this to CPC, Bangalore.