Income tax returns (ITR) filing: How to file tax online with new ITR-1 form for AY 2018-19; step by step guide

Income tax returns (ITR) filing: The Income-Tax department has opened an e-filing window for income tax returns (ITR) for assessment year 2018-19 on it's website for salaried employees. Individuals earning income up to Rs 50 lakh are supposed to file ITR 1 form. Other ITR forms will be available shortly. In the first week of April this year, the Central Board of Direct Taxes (CBDT) had made changes in ITR forms, including ITR 1. 

In a statement on April 05, the CBDT said, "For Assessment Year 2018-19 also, a one page simplified ITR Form-1(Sahaj) has been notified. This ITR Form-1 (Sahaj) can be filed by an individual who is resident other than not ordinarily resident, having income up to Rs 50 lakh, and who is receiving income from salary, one house property/other income (interest etc)."

Earlier ITR-1 form was applicable for both residents, residents not ordinarily resident (RNOR) and also non-residents. Now this form is only made available for resident individuals. Also earlier an individual had to show their salary break-up in Form 16, which has been changed and brought under the ambit of ITR-1 form. Apart from this, the revised ITR-1 form also has requirement to furnish a break up of Income under House Property which was earlier only mentioned in ITR -2 and other forms. 

Here's how the structure of ITR-1 form looks like. 

Part A – General Information

Part B – Gross total Income

Part C – Deductions and taxable total income

Part D – Computation of Tax Payable

Part E  – Other Information

Schedule IT – Detail of Advance tax and Self Assessment Tax payments

Schedule TDS – Detail of TDS/TCS

How to file ITR online (on Income Tax website)

Step 1 - Login to e-Filing website with User ID, Password, Date of Birth /Date of Incorporation and Captcha.

Step 2 - Go to e-File and click on "Prepare and Submit ITR Online".

Step 3 - Select the Income Tax Return Form ITR 1/ITR 4S and the Assessment Year.

Step 4 - Fill in the details and click the "Submit" button.

Step 5 - Upload Digital Signature Certificate (DSC), if applicable. One needs to ensure the DSC is registered with e-Filing.

Step 6 - Click on "Submit" button.

Step 7 - On successful submission, ITR-V would be displayed (if DSC is not used). Click on the link and download the ITR-V. ITR-V will also be sent to the registered email. If ITR is uploaded with DSC, the Return Filing process is complete.

In case, if the return is not uploaded with DSC, the ITR-V Form should be printed, signed and submitted to CPC within 120 days from the date of e-Filing. The return will be processed only upon receipt of signed ITR-V. Check your emails/SMS for reminders on .non-receipt of ITR-V.

The notified ITR Forms are available on the official website of the department www.incometaxindia.gov.in. The last date for filing the ITR is July 31.