FY 19-20, FY 20-21 Income tax return e-filing, exemptions, deductions, e-payment, refund

Extension of ITR filing deadline by CBDT:

The due date for furnishing of Income Tax Returns has been extended from 30th November to 31 December for the financial year 2019-20 or AY 2020-21. The order copy is attached below:

Major Contents in the Post: (Jump to the Section)

  1. How to e-file Offline ITR and Online ITR?
  2. Which ITR to file for different categories like Individual, 2-house etc?
  3. Income tax Deductions list like 80C, 80D, 80G etc.
  4. How to e-verify ITR after filling form?
  5. What is ‘Form 16’ for filling ITR?
  6. How to do e-payment of challan 280 in ITR?
  7. How to claim refund and refund status?
  8. Income tax calculator in Excel.
  9. Income tax rate slabs for below 60 age, senior and super senior citizen
  10. Income tax help line and social contacts like twitter, facebook etc.
  11. Income tax act 1961, law and ITAT policy.
PressRelease_Extension_of_due_date_of_furnishing_of_IITR_and_Audit_Reports_24_10_20 - 2nd page
PressRelease_Extension_of_due_date_of_furnishing_of_IITR_and_Audit_Reports_24_10_20 – 2nd page

Income tax return e-filing (ITR e-filing): How to e-file ITR?

For e-filing Income tax, there are 2 options: Offline (upload XML) and Online (prepare and submit online). Without the help of CA or experts, you can do ITR efiling at home or office by yourself. Just to boost your confidence up, even if something goes wrong, you can revise any number of times, so no worry.

Which ITR form to fill for individual, HUF, for 2 houses, company etc.?

First question before filing of income tax return comes that which ITR form I have to fill. Every person’s assets and liabilities are different, so based on the description below, you have to select ITR form and properly fill it. Also, which ITR form can be filled online or offline way, is also mentioned here.

ITR form list to file income tax return
ITR forms list to file

1. Offline ITR e-filing in XML file: Download the ITR form, fill it offline and upload it.

  1. Go to www.incometaxindiaefiling.gov.in,
  2. Download software under Downloads > IT Return Preparation Software’
  3. Download either Excel or Java, Unzip it.
  4. Fill the form, validate all the tabs of the ITR form, calculate tax and save the XML.
e-filing by offline XML method for ITR filing
e-filing by offline XML method for ITR filing

5. Login to www.incometaxindiaefiling.gov.in using PAN, Password and Captcha code. If you forgot password, the do ‘Reset Password’ by clicking on ‘Forgot Password’. User ID is PAN number.

6. Go to e-file > Income tax return – select Assessment year, ITR form no., Filing type, and Submission mode > upload XML.

7. Verify income tax return. E-verify your ITR using Aadhaar OTP, Net banking, Pre-validated bank account or Pre-validated demat account.

ITR efiling offline - upload XML
ITR efiling offline – upload XML

2. Online ITR e-filing – by directly filling the data in the form and submit:

  1. Go to www.incometaxindiaefiling.gov.in,
  2. Login to www.incometaxindiaefiling.gov.in using user ID, which is your PAN, Password and Captcha code. If you forgot password, the do ‘Reset Password’ by clicking on ‘Forgot Password’.
  3. Go to e-file > Income tax return – select Assessment year, ITR 1 for salaried individual , Filing type, and Submission mode > ‘prepare and submit online’.
  4. Part-A : General information – most of the data will come auto-populated like PAN, Aadhaar, Address, Mobile, e-mail etc.
  5. In Filing section, select 139(1)-On or before due date, if filing 1st time in original.
  6. This time, extra question is this – Are you filing return of income under Seventh proviso to section 139(1) but otherwise not required to furnish return of income? If yes, please furnish following information . (It means, your income is not taxable, but still you are filing your return due to high-value purchase by you). For mostly, it may be NO.
  7. Part B – B1 (i) – from Form 16, fill the Gross Salary.
  8. B1 (ii) – from Form 16, fill the amount for ‘Allowances to the extent exempt u/s 10’.
  9. After exemption of B1(ii) and standard deduction, Income chargeable under the Head “Salaries”(iii – iv) will be shown in B1 (v).
  10. B2 – House property – let out (Rent out) / Self-occupied. If you have rented out, fill rent amount in B2 (i). If you have borrowed loan from bank or FIs, the interest up to Rs. 200,000 /- can be claimed in B2 (v) under section 24 of the Indian Income Tax Act, 1961.
  11. B3 – Income from Other Sources – First check in My Account > View form 26AS (tax credit), where all types of incomes are shown like income from salary, income from FD interest, income from Bond maturity separately with tax deducted. So, after cross checking with form 26AS, fill here the amount of ‘Income from Other Sources’.
  12. B4 – Gross Total Income after adjusting all above numbers.
  13. Part C – Deductions and Taxable Total Income – Total list of deductions and exemptions are below:.

List of income tax deductions under sections 80C, 80CCC, 80CCD, 80CCD (1B), 80TTA, 80TTB, 80CCG, 80CCF, 80D, 80E, 80EE, 80EEA, 80G, 80GG, 80GGA, 80GGB, 80U:

Here, you can claim eligible deduction as per your savings, investment and expenditure.

Deduction under IT sectionsAmount eligible for deductionSchemes or Instruments
80 CMaximum ₹ 1,50,000 (Total of 80C, 80CCC and 80CCD)CPF, PPF, EPF, Bank FD’s, NSC, LIC premium, Home loan Principal, Postal small savings schemes like MIS, KVP, SSY, Time deposits etc.
80 CCCMaximum ₹ 1,50,000 (Total of 80C, 80CCC and 80CCD)Pension funds, NPS
80 CCDMaximum ₹ 1,50,000 (Total of 80C, 80CCC and 80CCD)Pension fund given by central government
80 CCD (1B)Maximum ₹ 50,000NPS Tier 1 or Atal Pension
80 TTAUp to ₹ 10,000 per yearInterest on bank savings account
80 TTBUp to ₹ 50,000 per yearInterest on bank savings account for senior citizen.
80 CCG50% of amount invested subject maximum of ₹ 50,000Rajiv Gandhi Equity Savings Scheme.
80 CCFUp to ₹ 20,000Long term infrastructure bonds
80 DFor individual – Premium up to ₹ 25,000 for individuals and up to ₹ 50,000 for senior citizens
For HUFs- Premium up to ₹ 25,000 and up to ₹ 50,000 in case the member insured is a senior citizen or super senior citizen
Medical insurance premium and Preventive Health check up
80 EThere is No limit.Interest on repayment of Education loan
80 EEMaximum ₹ 50,000Interest on loan sanctioned (less than 35 lakh) between 01.04.2016 to 31.03.2017 against residential property value of less than 50 lakh. It can be claimed over Rs. 2 lakh loan interest u/s 24 (Total 2.5 lakh).
80 EEAMaximum ₹ 150,000Interest on loan sanctioned between 01.04.2019 to 31.03.2020 against residential property value of less than 45 lakh. It can be claimed over Rs. 2 lakh loan interest u/s 24 (Total 3.5 lakh).
80 GDiffers with the amount of donationTo relief funds and charitable institutions
80 GGA100% of donation amountDonations to Scientific Research or Rural development
80 GGB100% of donation amount by companiesDonations to political parties
80 GGC100% of donation amount by IndividualDonations to political parties
80 GGLeast of 3 options:
1) Actual Rent paid minus 10 percent the adjusted total income.
2)₹ 5,000 per month
3) 25% of total income
Rent paid but does not get HRA
80 UDeduction of Rs. 75,000 is allowed for people with disabilities, and Rs. 1,25,000 deduction for people with severe disability.
List of income tax deductions under sections 80C, 80CCC, 80CCD, 80CCD (1B), 80TTA, 80TTB, 80CCG, 80CCF, 80D, 80E, 80EE, 80EEA, 80G, 80GG, 80GGA, 80GGB, 80U

14. Total income after adjusting all above numbers will come here.

15. Part D – Total tax will be calculated here. If you have to pay tax, the in D14, e-payment option will be highlighted. But, if D14 is showing refund amount, then you don’t have to do anything.

16. Part E – D15 – Details of all Bank Accounts held in India at any time during the previous year (excluding dormant accounts) have to be filled here.

17. Now, Verify through any option, preferably by Aadhaar OTP option and Submit. In Dashboard, you can see the status as ‘successfully e-verified’. Also, you will receive email for this. Then after 2-3 months its status will change into ‘ITR processed’.

successfully e-verified status after submitting ITR in e-filing
successfully e-verified status after submitting ITR

How to Verify income tax return, how to e-verify income tax return?

  1. There are 2 options: e-verify OR through ‘sending signed ITR-V by normal or speed post’.
  2. In e-verify, you can do by Aadhaar OTP, if mobile is updated in Aadhaar OR by generated EVC through online bank or bank ATM OR by Net banking. EVC is valid only for 72 hours from generation time.
  3. If you don’t want to e-verify, then you have to send signed ITR-V through normal or speed post to ‘centralised processing center, Income tax department, Bengaluru – 560500’. It should be sent within 120 days from the date of e-filing the return.
verify ITR by e-verify or by post in e-filing
verify ITR by e-verify or by post

What is Form 16 for income tax return filing?:

Form 16 is the base document to file your income tax return. Form 16 is the yearly summary of an employer’s income details, exemptions details, deduction details under chapter VI-A, Net taxable income, tax payable amount, tax deducted at source and net tax payable or refund, if any. In nutshell, Form 16 is yearly balance sheet of earnings, allowances, investments, exemptions, tax deduction and refund.

Form 16 is an important document, which is required in case of loan borrowing from bank or in purchasing of term insurance. They usually ask for 2 or 3 years form 16.

A sample of Form 16 has been attached below, in which you can see the details of employee, employer, PAN, TAN, Financial Year, Assessment Year, salary details, deduction and tax payable or refund.

Form 16 sample for ITR filing, in which all the income, savings and tx details are mentioned.
Form 16 FY 19-20 1st page sample
Form 16 sample for ITR filing, in which all the income, savings and tx details are mentioned.
Form 16 FY 19-20 2nd page sample

e-payment via challan no. 280 to Income tax department :

If you have to pay tax, then e-payment option will be there to make online payment to income tax via challan. Challan no. 280 is used for Payment of Advance tax, Self-Assessment tax, Tax on Regular Assessment, Surtax, Tax on Distributed Profits of Domestic Company and Tax on Distributed income to unit holders.

e-payment receipt of self assessment tax for filing ITR
Receipt after e-payment by net banking
  1. Click on e-payment.
  2. New page will open – Tax applicable – 0021, (Income tax – Other than Companies), Type of Payment – 300 (self-assessment tax)
  3. Select mode of payment: Net banking or Debit card.
  4. It will open link of your bank, where amount and challan no. will be already filled. You have to just follow and receipt will be generated. on this receipt, challan serial no., BSR code, date of receipt etc. will be there.
  5. Now, go back to tax page of your income tax form. Under heading ‘Sch IT’ – Details of advance tax and self assessment tax payments, yo have to fill challan serial no., BSR code, date of receipt and amount. After this, it will be reflected in total tax amount paid equaling to total tax amount calculated.
  6. Now you can submit and verify through any option preferably Aadhaar OTP option.

Refund from Income tax department:

How much time it takes to get refund in the account?

Normally, it takes 15 days to 60 days to get refund in the account. If there is any error related to bank details or communication address, then there might be delay and in that case you have to request for re-issue the refund after correcting the bank details or communication address.

How will income tax department send my refund?

Refund will be sent by 2 modes: RTGS / NECS and Paper cheques. If you have not mentioned your complete bank account number, MICR/IFSC code of bank branch or have an error, then the paper cheque will be issued to your communication address. Most importantly, refund amount may come with interest.

Check Refund status from Income tax department:

At https://tin.tin.nsdl.com/oltas/refundstatuslogin.html, refund status can be checked by filling the PAN, selecting assessment year and writing captcha code. Taxpayers can view status of refund 10 days after their refund has been sent by the Assessing Officer to the Refund Banker. Even on www.incometaxindiaefiling.gov.in, the refund status can be traced after login. Also, status of refund paid is reflected in the tax credit statement in Form 26AS.

Refund status check from Income tax department
Refund status check from Income tax department

Income tax calculator: Excel income tax calulator

Just change the field value and you can calculate the tax amount for FY 19-20 and FY 20-21 both and get the difference as the tax rate slabs are different for both financial years. And, the rule has also been changed for both the years.

Income tax rate slab for FY 19-20 (AY 20-21) and FY 20-21 (AY 21-22):

Income tax rate slab are divided in three categories:

  1. An Individual (resident or non-resident) or HUF : Individual income tax rate table
  2. Senior Citizen, who is 60 years or more at any time during the previous year : Senior Citizen income tax rate table
  3. Super Senior Citizen, who is 80 years or more at any time during the previous year: Super Senior Citizen income tax rate table

Income Tax India Social contacts to follow, feedback, query or complain:

  • Income tax twitter handle : @IncomeTaxIndia
  • Income tax facebook : @IncomeTaxIndiaOfficial
  • Income tax Instagram : @IncomeTaxIndia.Official
  • Income Tax Youtube : Income Tax India

Income tax ‘Help Desk Contact Details’ or ‘customer care numbers’ or ‘Helpline numbers’:

PurposeHelpdeskLinkHelpdesk NumberWorking Hours
​​Income tax / PAN / TAN, General Queries of Income TaxAayakar Sampark Kendra (ASK)     1961 / 1800180196108:00 hrs – 22:00 hrs (Mon to Sat)
Rectification, Refund, Intimation and other Income Tax Processing Related QueriesCentralized Processing Center18001034455 / 804660520008:00 hrs – 20:00 hrs (Mon to Fri)
e-Filing of Income Tax Return or Forms and other services provided through e-Filing Portale-Filing
http://incometaxindiaefiling.gov.in/18001030025 /
8046122000 / 8026500026
09:00 hrs – 20:00 hrs (Mon to Sat)
Form 16, Tax Credit (Form 26AS) and other queries related to TDS statement, Form 15CA processingTDS Reconciliation Analysis and
Correction Enabling System (TRACES)
www.tdscpc.gov.in,contactus@tdscpc.gov.in18001030344 / 0120-481460010:00 hrs – 18:00 Hrs (Mon to Sat)
Queries related to PAN & TAN application for
Issuance / Update through NSDL
Tax Information Network – NSDLwww.tin-nsdl.com0120-2721808007:00 Hrs – 23:00 Hrs (All Days)
Tax Return Preparer Scheme (TRP Scheme)www.trpscheme.com, helpdesk@trpscheme.com180010237389 am to 6 pm (Mon to Sat)
Income tax Help Desk Contact Details:

Income tax law and Rules: Income tax India Act 1961

The Direct Taxes Administration Enquiry Committee, under the chairmanship of Mahavir Tyagi, submitted its report on 30 November 1959 and its recommendations took shape in the Income-tax Act, 1961. The act, which became effective on 1 April 1962, is the pillar of Income tax in India.

Income tax India Act 1961 pdf for download:

Finance bill 2020 by Finance minister in parliament:

Almost every year, several amendments are done in Income tax India Act 1961 as per requirement. This becomes part of Income tax India Act 1961 after giving nod by President of India.

Income tax department structure:

The Central Board of Direct Taxes (CBDT) is a statutory authority and the apex body of the Department, charged with the administration of income taxes. It has come into effect from 01.01.1964. CBDT is part of Department of Revenue in the Ministry of FinanceThe Central Board of Direct Taxes (CBDT) consists of a Chairman and following six Members, pointed from Indian Revenue Service.

  1. Chairman
  2. Member (Income Tax & Revenue)
  3. Member (Legislation)
  4. Member (Admn.)
  5. Member (investigation)
  6. Member (TPS & system)
  7. Member (Audit & Judicial)

Income tax Department enforcement law powers:

  1. Fines and Penalty – For wrong or hiding information.
  2. Assessment – For correct estimation of total taxable income of taxpayer.
  3. Search and Seizure – To check records and valuables to ensure that no evasion of tax is there.
  4. Surveys – For physical verification of records and valuables by income tax officers.
  5. Prosecution – When someone intentionally evade tax.

Income Tax Appellate Tribunal (ITAT):

Under Ministry of Law and Justice, Income Tax Appellate Tribunal (ITAT) is a quasi judicial (equivalent to lower court) institution set up in January, 1941 and specializes in dealing with appeals under the Direct Taxes Acts and laws. The orders passed by the ITAT are final, an appeal lies to the High Court only if a substantial question of law arises for determination.

Its motto is ‘Nishpaksh Sulabh Satvar Nyay’, which means impartial, easy and speedy justice to aggrieved taxpayers. ITAT has introduced e-filing in which all the communication related to their appeals, like filing of appeal, fixation for hearing, adjournments, pronouncements and disposals will be sent to the appellant’s / respondent’s Mobile as well as E-Mail Id.

Income Tax Appellate Tribunal,
3rd & 4th Floor, Pratishtha Bhawan, Maharshi Karve Marg, Mumbai-400020, Ph: 022-22033848,  Email: itcell.ho@itat.nic.in

Disclaimer: Kindly go through the official website of income tax and others in case of clarity.

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