Employees who earn more than 2,50,000 Rupees or above per annum need to file income tax return. Like every year this year also employees need to file IT returns for the financial year 2018-19. In general, employees will submit the form-16 to the employer. Based on the salary details, saving details and TDS details in Form-16 employer will file ITR Returns of the employee. Even the employee can also file the ITR-1 form through online at www.incometaxindiaefiling.gov.in website.
ITR-1 Form is for a Salaried individual (salary, Pension, and Intrest income). The ITR-1 Form will be used for individuals who have less than 50 lakhs income. Here you can know the complete details on how to file income tax return online for salaried employee 2018-19.
ITR-1 Form Applicable To :
- Salary / Pension (less than 50 lakh)
- One house
- Income Other Source (Intrest)
ITR-1 Form not Applicable:
- More than one House Property
- Lottery Racehorses etc
- Short Term and Long Term Capital Gains (Taxable)
- Profession and Business
- Agriculture Income More than 5000 (Exempted)
How To File Income Tax Return Online For Salaried Employee 2018-19 Step By Step Process:
Step:1
- Login to e-filing in www.incometaxindiaefiling.gov.in with your user id and password.
- Now click on the filling of Income Tax return option in Dashboard
- Now fill the details of Pan.No, Assessment Year, ITR Form Name & Submission Mode (Online or Offline)
- Once you get the Aadhar OTP in your mobile number then tick the first option. You have already generated the EVC then tick the second option. You would like to e-verify later click the third option.
- If you don’t want to e-verify this income tax return and you would like to send signed ITR-V through normal or speed post to “Centralized Processing Centre, Income Tax Department in Bangalore then select that option.
Step-2: Part A General Information Page
- Now you can see the personal Details (Name,PAN.No, D.O.B, Mobile number Address) in In Part A General Information Page.
- If you have not given the aadhaar details previously then give the aadhaar details
- Now go to Employee Category and click the drop-down list and select the options(Public sector, Govt, Sector & Others)
Now Select return type Original or Revised.
Step-3: Computation of Income and Tax
- Enter the salary details, pension details, and deduction u/s 16 (professional Tax) details in Part B (B1)
- If you have one House property then fill the B2 details.you have a home loan in the bank then fill the Interest amount (max of 2 lakh) details in interest payable on borrowed capital.
- In Part-C fill the Saving Details (80C,80CCD,80D,80E,80G,80GG etc…)
- In Part-D you can see the Tax Payable amount.
Step-4: Tax Details (TDS/TCS/IT)
- Details of TDS at source from salary (As per FORM 16 issued by Employer) in Schedule TDS-1
- Details of TDS from other than salary (As per FORM 16A issued by Deductors) in Schedule TDS-2
- Details of Collected at Source (As per FROM 27D issued by the collectors) in Schedule TCS
- Details of Advance tax and self-assessment tax
Step-5: Tax Paid Details & Bank Details
- Tax Paid Details (Advance Tax, TDS,TCS,Self Assessment tax)
- Exempted Income for Reporting purpose (Exempted long term Capital Gains, Dividend Income, Agriculture Income <=5000)
- Bank Details (Bank Name, Account Number & IFCI Code)
Step-6: 80G
- If you have given any Donation then fill the 80G Details
Step-7 :
- After you fill all details click on the preview button
- Now you can check the details in the preview and click the Submit button
- Now you will get the aadhaar OTP verification code. and After entering the OTP number, your e filing returns will complete successfully.
Step-8: If you Don’t Have Aadhaar OTP
- If you don’t have aadhaar OTP then you can tick the third option
- You have not e-verified the ITR, Click on e-verified to e-verify the ITR
- EVC generation is three types they are 1. Through Net Banking, 2.Through Bank Account Number & 3.Through Demat Account Number
Step-9: E-Verification Through Net Banking
- Login to the e-filling portal through net banking, now go to the My Account menu and click the e-verify return opting and fill the Name, Account number & PAN Details than your return will be e-verified and the process will be completed.
- If a return has been e-verified, then there is no need to submit ITR-V
If you still have any doubts on how to file income tax return online for salaried employee 2018-19 then ask those queries in below comments section.