Simple steps to filing income tax return

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Today, you can file tax return electronically, because it is very easy and it has simple process. It takes only 15 min to file income tax return. However, it is absolutely smoother than finding a tax consultant, wrangling for the right price and then waiting endlessly for him to do the job at his whim.

Thus, here are some simple steps for you, just follow them and save your time;
Browse the website that is designed for filing income tax in your country or region. Be a member of the site by registering yourself that is if you are not registered already. Put your PAN number in registration and other details in order to set your login and password.

Then, logout the website and login again, write your user ID and password, you have set earlier. Click on e-filing A.Y. 2010-11 on the left side and download the e-filing form.
The e-filing form comes in a ZIP file. Save it to your computer then extract the Excel file from it to a new folder. Open the excel file and enable macros, because it is necessary for the completion of process.

Take a look on the form then fill in details like Name, Address, City, State, Pin Code in the sheet for INCOME DETAILS; fill in your PAN number wherever required and then fill in details of your income, investments and tax paid as provided to you in the Form 16 as per the instructions on the sheet. Then click on the VALIDATE button to check. If the details are correct. It will show the sheet is ok.

The next page of the file is TDS; for the income from salary fills in the details for No 23 only or Income from other source fill in details for No 24 also. Fill the required fields like TAN number, name of company, address, city, state, pin code as given in form 16.

Fill in details of income charged under salaries, deductions from Chapter VI-A, tax payable and tax deducted. All these information is found on your Form 16. Click on VALIDATE button to check for correctness.
Next piece of is taxes paid and verification. Put details of name, father's name, place, date and PAN number under the VERIFICATION section shown in RED. Click validate once again. If all the three sheets are shown OK on validation, you are ready to generate an XML file of the details.

Then, click on Generate XML and save the file, go back to the website and log in with your user name and password. Select the 2010-11 as assessment year. Upload/Submit your generated XML to the site. You’re done. You’ll receive the file of acknowledgment download it and take print of it, sign it. Then, finally send it to income tax department.

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