HomePersonal Finance NewsITR filing: Where to file, forms available and other questions answered

ITR filing: Where to file, forms available and other questions answered

All individuals having a taxable income or otherwise eligible are required to file income tax return (ITR) within the specified deadline.

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By Anshul  September 4, 2020, 6:44:37 PM IST (Updated)

ITR filing: Where to file, forms available and other questions answered
All individuals having a taxable income or otherwise eligible are required to file income tax return (ITR) within the specified deadline. For the fiscal 2019-20 (AY2020-21), taxpayers can do it till November 30, 2020, as per Income Tax (I-T) department’s recent order.


Generally, taxpayers are required to file ITR by July 31 of any year (unless extended by government). However, the deadline was extended for the ongoing financial year in view of the constraints due to the COVID-19 pandemic and to further ease compliances for taxpayers.

After the deadline, the belated return can be filed with certain penalty charges.

In view of this, let’s understand the key things related to ITR filing:

[faq][ques]Who are required to file return of income electronically?[/ques][ans]For the assessment year 2020-21, every taxpayer has to file ITR electronically except a super senior citizen (whose age is 80 years or above during the previous year 2019-20) who furnishes the return either in ITR-1 or ITR-4, according to Taxmann.[/ans][/faq]

[faq][ques]As the due date for filing of ITR for assessment year 2020-21 has been extended to November 30, 2020, whether interest applicable under section 234A has also been waived off?[/ques][ans]The CBDT has extended the due date for filing of ITR for the assessment year 2020-21 to November 30, 2020. However, no relief has been provided from the interest chargeable under section 234A if the tax liability of the assessee exceeds Rs 1 lakh. Thus, if self-assessment tax liability of a taxpayer exceeds Rs 1 lakh, he/she would be liable to pay interest under section 234A from the expiry of original due dates. The interest under section 234A shall not be levied if the self-assessment tax liability of taxpayer does not exceed Rs 1 lakh and ITR if filed within the extended due date.[/ans][/faq]

[faq][ques]What are the forms available for filing ITR?[/ques][ans]Under the current income tax laws, several forms are available for different types of assessees to file their income tax return for financial year 2019-20 namely ITR 1, ITR 2, ITR 3, ITR 4, ITR 5, ITR 6 and ITR 7.[/ans][/faq]

[faq][ques]Where can you file ITR?[/ques][ans]The income tax department has established an independent portal for e-filing of income tax returns -- incometaxindiaefiling.gov.in. The online filing format of ITR is known as e-filing. Additionally, there are certain private entities, registered by the Income Tax department that enables e-filing process through their websites. While filing ITR on income tax department's platform is entirely free, some of the private websites may charge for certain actions.[/ans][/faq]

[faq][ques]What are the mistakes to avoid while filing ITR?[/ques][ans]As there are different forms prescribed for different types of taxpayers, one should be careful while choosing the ITR form. A wrong form can render the tax return filed defective and the taxpayer may receive a notice to file the return once again, according to Archit Gupta, founder and chief executive officer, ClearTax. While computing the ITR, it is imperative to take into account all sources of income whether from the previous or current employment or income from investments. The ITR requires complete details of the sale of capital assets, purchase and expenses to calculate the capital gain.[/ans][/faq]

[faq][ques]What is the need of Form 16?[/ques][ans]Form 16 is a certificate issued by an employer and it contains the information that one needs to file the ITR. These certificates provide details of TDS/TCS for various transactions between deductor and deductee. Form 16 has two components – Part A and Part B. Part A includes components such as name and address of the employer, TAN and PAN of employer, PAN of the employee, summary of tax deducted and deposited quarterly, which is certified by the employer.Part B contains detailed breakup of salary, detailed breakup of exempted allowances under section 10 and deductions allowed under the Income Tax Act (under chapter VIA).[/ans][/faq]

ITR filing: Where to file, forms available and other questions answered

Who are required to file return of income electronically?

For the assessment year 2020-21, every taxpayer has to file ITR electronically except a super senior citizen (whose age is 80 years or above during the previous year 2019-20) who furnishes the return either in ITR-1 or ITR-4, according to Taxmann.

As the due date for filing of ITR for assessment year 2020-21 has been extended to November 30, 2020, whether interest applicable under section 234A has also been waived off?

The CBDT has extended the due date for filing of ITR for the assessment year 2020-21 to November 30, 2020.

However, no relief has been provided from the interest chargeable under section 234A if the tax liability of the assessee exceeds Rs 1 lakh.

Thus, if self-assessment tax liability of a taxpayer exceeds Rs 1 lakh, he/she would be liable to pay interest under section 234A from the expiry of original due dates.

The interest under section 234A shall not be levied if the self-assessment tax liability of taxpayer does not exceed Rs 1 lakh and ITR if filed within the extended due date.

What are the forms available for filing ITR?

Under the current income tax laws, several forms are available for different types of assessees to file their income tax return for financial year 2019-20 namely ITR 1, ITR 2, ITR 3, ITR 4, ITR 5, ITR 6 and ITR 7.

Where can you file ITR?

The income tax department has established an independent portal for e-filing of income tax returns -- incometaxindiaefiling.gov.in.

The online filing format of ITR is known as e-filing.

Additionally, there are certain private entities, registered by the Income Tax department that enables e-filing process through their websites.

While filing ITR on income tax department's platform is entirely free, some of the private websites may charge for certain actions.

What are the mistakes to avoid while filing ITR?

As there are different forms prescribed for different types of taxpayers, one should be careful while choosing the ITR form.

A wrong form can render the tax return filed defective and the taxpayer may receive a notice to file the return once again, according to Archit Gupta, founder and chief executive officer, ClearTax.

While computing the ITR, it is imperative to take into account all sources of income whether from the previous or current employment or income from investments.

The ITR requires complete details of the sale of capital assets, purchase and expenses to calculate the capital gain.

What is the need of Form 16?

Form 16 is a certificate issued by an employer and it contains the information that one needs to file the ITR.

These certificates provide details of TDS/TCS for various transactions between deductor and deductee.

Form 16 has two components – Part A and Part B.

Part A includes components such as name and address of the employer, TAN and PAN of employer, PAN of the employee, summary of tax deducted and deposited quarterly, which is certified by the employer.Part B contains detailed breakup of salary, detailed breakup of exempted allowances under section 10 and deductions allowed under the Income Tax Act (under chapter VIA).

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