Find out which ITR filing method could help you complete this complex process with ease and least amount of errors.
Both e-filing and manual filing of Income Tax Returns (ITR) have their advantages. While the more traditional methods require you to submit physical copies to the I-T department, e-filing allows you to complete the process online through the dedicated portal. This automated process allows taxpayers to quickly and efficiently file their returns.
With technological advancements, e-filing has emerged as a popular method for submitting ITR online. The following are certain pros and cons of opting for this method-
Pros |
Cons |
E-file ITR conveniently from the comfort of your home without visiting the tax office physically |
As e-filing software relies on internet connectivity, technical issues and server outages could temporarily disrupt the process |
It is generally a quicker process compared to traditional methods, allowing you to save time |
There may still be concerns about safety related to data transmissions and cyber security threats |
ITR e-filing software comes with in-built error-checking mechanisms, enabling you to spot mistakes |
Navigating tax filing software can be a challenge for those unfamiliar with the technology |
Online tax filing software uses encryption and secure protocols to protect your sensitive personal and financial information |
Check out the advantages and disadvantages of opting for the manual ITR filing process-
Pros |
Cons |
Opting for this process provides more hands-on control when filing your taxes |
Filing tax returns manually may lead to errors, such as miscalculations or missing information |
The offline process allows those individuals to file taxes who may not be well-versed in the technological processes |
The process of offline tax filing takes more time compared to the e-filing process |
This process enables you to avoid errors, such as data entry mistakes and technical glitches |
Correcting mistakes can be a difficult process if you have already mailed a paper return |
Get the opportunity to gather and organise supporting documents physically |
ITR e-filing has quickly become a preferred method for submitting taxation documents electronically. Here is the process you need to follow for online ITR filing-
Visit the official Income Tax portal
Select the assessment year and the ‘JavaScript Object Notation (JSON)’ utility
Download the utility to begin the tax filing process
Enter the income and investment details in the utility
Review the tax payable and refund you can receive
Click on the ‘Validate’ option on the downloaded form to ensure you have filled all the necessary information
Click on the ‘Generate XML’ button to convert the file into XML format
Log in to the e-filing portal and click on the ‘e-file’ tab
Select the ‘Income Tax Return’ option and provide the necessary details
Choose the submission mode and select the ‘Upload XML’ option to attach the file
Click on the ‘Submit’ option and select a suitable verification mode to complete the process
Follow this step-by-step process if you have opted for manual tax filing-
Log in to the official Income Tax portal
Click on the ‘e-file’ button and choose the ‘Income Tax Return’ option
Select the assessment year and download the offline utility by clicking on the ‘Downloads’ section
Run the utility after downloading it
If needed, an upgraded version of the utility will be downloaded once you connect to the internet
Continue with the process by clicking on the ‘Enter’ key
You will then be directed to the ITR page, where you can find Returns, Data Versions, and Pre-filled Data
Click on the ‘Returns’ tab and select the ‘File Returns’ tab to start filling in the relevant details
Click on the ‘Submit’ button once you have filled in the mandatory details
*Note: The actual process to file ITR online and offline may vary.
When filing tax returns, the new tax regime is considered the default one. During the tax filing process, you will be asked if you want to opt out of the new regime u/s 115BAC(6). Select the ‘Yes’ option if you want to opt for the old tax regime.
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