For filing your income tax return go to the government of India website:
Register your PAN number at this site if you have not done already and login to this site.
Form 26AS (Tax Credit)Before beginning with filing of your tax return, please have a look at your Form 26AS which shows the tax credited against your PAN number. This will show the tax credit done by your employer as well as the tax credited by other entities like your savings bank. Click on 'View Form 26AS (Tax Credit) and follow the instructions for viewing your Form 26AS. Assessment year needs to be given as next year of the financial year (for e.g 2013-2014 financial year has 2014-2015 as assessment year).
If you are earning an income of more than 10,000 in your savings account via FD or interest, then the bank will deduct 10% of this amount as TDS and pay to the Income Tax Department. This data will also be seen in your form 26AS. The additional income that is shown by the bank needs to be added to your taxable income and the excess tax if any need to be paid as self assessment tax. How to e-pay the self assesment tax will be discussed later.
e-File ITRIf you do not have any pending tax to be paid, then you can go forward to file the Income Tax return. Click on 'Quick e-File ITR' link for starting this procedure.
Select ITR-1 and assessment year as the year next to the financial year. You can chose to pre-fill your personal details from the PAN Database or from previously filled returns. Keep saving your form while filling the details for filing return.
In the 'Income Details' section, for 'Income from salary', the form 16 component of 'Income chargeable under the head 'Salaries'' needs to be filled in.
If you have an additional income from FD or any other sources, then that needs to be mentioned against 'Income from other sources'
The deduction under 80C/80D etc needs to be filled in from form 16.
The 'Tax Details' could be already pre-filled with the income as well as tax details as seen in Form 26AS. Please cross-check if both are in sync.
Check the 'Taxes Paid And Verification' section. There should not be any tax pending to be paid. If there is no tax balance, then you can go ahead and submit your return.
If there is then pay the additional tax as self assessment tax and fill it in the 'Tax Details section' under 'Sch IT - Details of advance Tax and Self Assessment Tax Payments' section. The necessary details will be available once the e-Tax payment is confirmed. Once it is confirmed that there is no tax pending to be paid, you can submit your return.
Once the IT return is filed, you will get ITR-V for download, the password of the same will be your pan number in small letters followed by your date of birth in ddmmyyyy format. Verify the income, tax paid and tax balance mentioned in the ITR-V. This needs to signed and sent via post to the address mentioned of income tax department.
e-Pay self assessment tax
Click on the 'E-Pay Tax' link marked in the links if you have additional tax that needs to be paid.
Select the option - CHALLAN NO./ITNS 280 (payment of Income tax & Corporation Tax)
In the form, select the following options:
(0021)INCOME-TAX (OTHER THAN COMPANIES)
(300)SELF ASSESSMENT TAX
And fill in your details including PAN number and assessment year. Assessment year needs to be given as next year of the financial year (for e.g 2013-2014 financial year has 2014-2015 as assessment year). Mention the bank from which you wish to pay the self assessment tax. On confirmation of the payment the BSR code, challan number and details of the tax payment will be displayed. Save the details and fill it in the 'Tax Details section' under 'Sch IT - Details of advance Tax and Self Assessment Tax Payments' section as mentioned in e-file ITR section.