File your Income Tax Return Yourself in 30 minutes - All you need is your form 16

Before you start, tell me:

1. Are you a foreigner?
2. Do you do business?

If your answer is yes, then please read my article at thakurani,else let us start filing your returns.

Form 16 contains all the information you need to file your returns. 

Fetch your form 16, take a pencil and circle these 6 items in form 16.

• Goto Page 3 and circle:

1. Item 1: 1(a), 1(b), 1(c)
2. Item 2: Circle all fields that have figures (amounts), write the sum total of this item in the margin.
3. Item 4: If there is amount here, Circle it

• Go to Page 4 and encircle 7(a) and 7(b)
• Item 10: Circle all fields that have figures (amounts), write the sum total of this item in the margin.

Now you are ready to file your return. Open your return in these 4 easy steps:

Your return is available online, so you will need an internet connection

1. Open your computer, visit the E-filing website www.incometaxindiaefiling.gov.in and login to your registered account.
2. Once logged in, Click on the E-file tab, and click Income tax return.
3. On the next screen, select the return type and the submission mode. There are five details on this screen:

• Assessment Year: Click 2019-20
• ITR form Number: The form is ITR-1
• Filing Type: Select “Original/Revised Return”
• Submission Mode: Prepare and Submit Online
• Bank Account for Refund: Your linked banks will appear here, click the account where you would like to receive your refund

Click OK after you have read the instructions on this page. You will be taken to your income tax return.

The next step is actually filing your return. Remember the items you circled above, you will need them here.

Now that you have opened your income tax return online, let’s start filling items from your form 16 into your ITR-1.

For example, find Item Number 1(a) in your form 16, then find Item  B1 (i) a, in your ITR-1 titled “Salary as per provisions contained in section 17(1)”, and fill the amount in that field.

Circled Items of Form 16

Where to fill in FORM 16? Find these heads in ITR

• Find Item no 1(a) in Form 16, and enter the amount here in ITR 1, Item Number " B1(i).a", titled " Salary as per provisions contained in section 17(1)

• Find Item no 1(b) in Form 16, and enter the amount here in ITR 1, Item Number "B1(i) b", titled " Value of perquisites under section 17(2)

• Find Item no 1(c) in Form 16, and enter the amount here in ITR 1, Item Number "B1(i)c ", titled " Profits in lieu of salary under section 17(3)

• Find Item no 2 in Form 16, and enter the amount here in ITR 1, Item Number " B1 (ii) ", titled " Details of Allowances

• Find Item No. 4 in Form 16, and enter the amount here in ITR 1, Item Number " B1 (iv) c ", titled " Professional Tax u/s 16 (ii)

• Find Part B, Item no 7(a) in Form 16, and enter the amount here in ITR 1, Item Number " B2 ", titled " House Property Details

• Find Part B, Item no 7(b) in Form 16, and enter the amount here in ITR 1, Item Number " B3 ", titled " Income from other sources

• Find Part B, Item no 10 in Form 16, and enter the amount here in ITR 1, Item Number " C ", titled " Deductions under Chapter VI-A

• If You have any exempt income, not chargeable to tax, eg (stipend income) find Item C3 in the ITR-1 and Fill it there

Once you have filled these items, you have finished the difficult part. Now let’s move on to some easy parts.

There are five tabs open in the Income Tax Return, let’s review them one by one.

PART A: General Information

Most of  the items here are prefilled automatically, just check if they are correct or not. Also, check these two items:

1. Nature of Employment: Private Employees should click Others
2. Return filed under section : 139(1) On or before the due date.

PART B: Computation of Income Tax

This should match with your form 16, Just check these three items:

1. The Gross Total Income amount calculated matches Item 9 of form 16.
2. The Deduction under chapter VI-A matches Item 10 of Form 16.
3. The amount of Taxes calculated in Item D11 of ITR matches Item 19 of Form 16.

PART C: Taxes Details

All the taxes you have paid for this period is automatically prefilled here. If you have paid any advance tax during the year, check if it is appearing here or not. 

Very Important Note:

It is your duty to report all income earned during the financial year in your income tax return. If your form 16 missed some income (like tution income, agency commissions, interest income on personal loans to relatives etc), report them in your Income tax return under Income from other sources, it will slighlty increase your tax liability from your form 16.

PART D: Taxes Paid and Verification:

Taxes Paid

This is summary of Part B and C of ITR. It contains:

1. Amount of Taxes Paid by You for this year.
2. Your Total Tax liability. This is the actual amount of your tax liability for the year.

This part calculates your refunds, or if extra tax should be paid by you. 

If you have tax payable:

Click here for a step-wise guide to pay your taxes. It is recommended to pay all taxes before filing your return. 

If you have a refund, 

Click on the bank account where you would like to receive your refund.

Verification

1. Fill the verification form, select your capacity as “self”, and enter the place of filing of your return. For Eg, New Delhi and the 11th of July, 2019.

1. Then Select the first option of verification  “I would like to E-Verify” 

Once you are absolutely sure all information appearing are correct, click on “submit” the return.

You will be asked a multiple options to verify the return, Cick Adhaar OTP.

In the next screen, input the OTP received in your phone. Within 2 minutes, you will receive a mail that your return is filed and successfully e-verified.

That’s all. You filed your return yourself, within an hour at the very least. You did’t have to disclose your financial information to anybody, and you saved some money in the process.

Congratulations, you did it. If this guide worked for you, share it to your friends and help them out too.

Now you are ready to file your return. Open your return in these 4 easy steps:

Now you are ready to file your return. Open your return in these 4 easy steps:

Now you are ready to file your return. Open your return in these 4 easy steps:

Now you are ready to file your return. Open your return in these 4 easy steps:

Now you are ready to file your return. Open your return in these 4 easy steps: