IT Return File and additional Tax Pay

To file IT return the website URL is  https://eportal.incometax.gov.in/ and PAN or Aadhaar no will be your user ID

Every year normally last date for filing IT returns is 31st July, and for this following pre-requisites are required.

• Form No.16 provide by the employer, (the file is password protected and it is PAN number in uppercase followed by date of birth that is PANDDMMYYYY  ) is required and additionally
• Form 26AS required and can be downloaded from https://www.incometax.gov.in/iec/foportal/ is needed,   and will also need 
• Bank statements showing interest, Banks usually credit Interest end every quarter in a financial year example June, Sep, Dec and March or any other income earned.

Financial Year : is the period between 1 April and 31 March in which you earn an income. 
Assessment Year : is the following year in which this income is assessed and taxed.
ITR : Income Tax Return

For instance, if your financial year is from 1 April 2020 to 31 March 2021, then it is known as FY 2020-21.
The assessment year for the money earned during this period would begin after the financial year ends – that is from 1 April 2021 to 31 March 2022. Hence, the assessment year would be AY 2022-22.

Nature of Employment : If you are an employee of Private Sector concern, tick 'Others'

Gross Salary: and other income details are  found in Form No.16

Income from Other Sources

Interest from Savings Account  :  enter the total amount of interest received from all the bank savings accounts and post office savings account

Interest from Deposit (Bank/Post office/Co-operative society) : If you have invested in fixed deposits (FDs), recurring deposits (RD) with bank/post office, enter the total amount of interest received by you from various deposits.

ITR1 is the simplest and in below section some information about ITR2 is listed 

Sheet TDS, Tax Payments (TDS1, TDS2, TDS3), details of Tax Deducted at Source on Income can be filled with reference to Form16 and Form 26AS

Sheet Salary, Schedule S, Details of Income from Salary can be filled with reference to Form16

Sheet OS, Schedule OS , Income from other sources
b Interest, Gross 
Interest from Fixed Deposit, Saving Bank Account are taxable and come under Income from Other Sources

Sheet 80G, Schedule 80G, Details of donation entitled for deduction under section 80G
There are 2 categories, Donations entitled for 100% deduction (without/with qualifying limit) and Donations entitled for 50% deduction (without/with qualifying limit)

for example donation to Prime Minister’s National Relief Fund http://pmnrf.gov.in is eligible for 100% deduction without any qualifying limit
and Donations to National Defence Fund https://ndf.gov.in/  with PAN AAAGN0009F is eligible for 100% deduction from Taxable Income

for example donation to Isha Vidhya are eligible for 80G tax benefits (50% eligible)

Sheet VIA, Schedule VIA, Deductions under chapter VI-A
it maps to 9. Deductions under Chapter VIA , Part B (Annexure) in Form No.16
Donations to Akshaya Patra are eligible for 50% deduction under Section 35 Ac / 80 GGA of the Indian Income Tax.

Sheet EI, Schedule EI , Details of Exempt Income (Income not to be included in Total Income)

1 Interest income
Income from PPF, Income From Tax Free Bonds comes here. Add all such income and show it here.
Please do not enter Savings bank account’s interest here. It should be entered in 80TTA. (not applicable in new tax regime)

Contribution routed through employer
NPS   Deduction in respect of contribution by Employer to pension scheme under section 80CCD (2). You can invest upto 10% of salary (Basic + DA)

Upper limit of tax benefit is 7.5 lac

Contribution is reflected in Form 16.

Contribution routed through employee
An additional deduction of ₹ 50,000 can be claimed under Section 80 CCD(1B) for self-contributions made to NPS or APY.

2 Dividend income

Any dividend received from Shares/Stocks or Mutual Funds etc needs to be added together and shown here. Dividend from Indian Companies is tax-free u/s 10(34) and does not fall under the purview of Income-Tax Act. Even dividend paid by the equity mutual funds is also tax-free. But it does not mean that you don’t need to show it. These types of tax-free incomes ought to be disclosed while filing tax return.
For example in HDFC Sec from menu select Portfolio -> Profit & Loss and check column Dividend/Interest 

Note: The Finance Act, 2020 has abolished the DDT and moved to the classical system of taxation wherein dividends are taxed in the hands of the investors. So now, dividend income will become taxable in the hands of taxpayers irrespective of the amount received at applicable income tax slab rates

To pay additional tax for Individual tax payee

Select link e-Pay Tax 

Select Challan No 280

In Tax Applicable ,Select (0021) and  Select (300) Self assessment tax, fill the address, PAN number and select the appropriate assessment year from the drop done list.

For Advance Tax (select appropriate Assessment Year) and select (100) Advance Tax

Proceed would direct to the bank website

BSR Code , Date of Deposit and Serial Number of Challan needs to be filled in 
Sheet IT, Tax Payments, Details of Advance Tax and Self Addessment Tax Payments of Income-tax

After paying tax, BSR code, Challan Serial No , Date of Receipt of Self Assessment Tax needs to be updated in Tax paid section.

Once the e-Filing of Income Tax Return has been successfully submitted. email from communication@cpc.incometax.gov.in is received with pdf file acknowledgment attached .
Subject : Confirmation on e-Verification of Income Tax Return

Status shows Successfully e-Verified to check Dashboard -> View Returns / Forms 

After successful assessment of tax returns by income tax department, issues Intimation u/s 143(1) through SMS and email from intimations@cpc.incometax.gov.in usually it takes 3 weeks after submission of IT return for email intimation.This Intimation u/s 143(1) should be treated as completion of assessment income tax returns for the year unless there is tax due from the tax payer.

Status shows ITR Processed to check Dashboard -> View Returns / Forms

Gratuity [Section 10(10)]
In the case of employees covered by the Payment of Gratuity Act, 1972 [Sec 10(10)(ii)]

Is exempt from tax to the extent as stated below:

i) 15 days salary (7 days in case of employees of a seasonal concern) for each years’ service (service for a period of more than 6 months is regarded as one year’s service) based on salary last drawn i.e., 15 days salary x length of service, or.

ii) 20,00,000 as maximum amount; or
iii) Actual amount of gratuity received, whichever is less Taxable gratuity = Actual gratuity received – Exempted gratuity
(Meaning of salary for purpose of computation of gratuity = Last drawn salary + D.A. last drawn by the employee but excluding all other payments)

Note: one month is regarded as 26 days.

I received the email from intimations@cpc.gov.in  for return for AY 20xx-xx bearing Ack. No. 91025xxxxxxx717 was taken up for processing and on verification it was found that it contains arithmetical errors/ incorrect claims/ inconsistencies with respect to Audit Report /Form 26AS and the same is indicated in the table annexed.

and the procedure to provide response is

a) Please log on to www://incometaxindiaefiling.gov.in/ with your user ID and password.

b) Go to E-proceeding tab -> E assessment/proceedings link

c) In order to submit your response, click on the submit hyperlink under Response column.

In case you face any difficulty while filing the response, please refer to the help document provided in the E-filing portal.
Help-> How to-> How to submit response to 143(1)(a) communication from CPC?-> Click here to view and download the User manual.

follow the given steps to submit the response through e-Proceeding option. Go to e-proceeding > Click e-Proceedings > Click the Proceeding Name hyperlink> Click Submit available under ‘Response’ column.

You may exercise your option of filing a revised return, so that the omissions in the return of income can be completely taken care of within the meaning of section 139(5)

Go to ‘PART A General Information’/’Personal Info’ tab > Select ‘Return filed’ as ‘Revised 139(5)’ > Select ‘Whether Original or Revised return?’ As ‘Revised’ > Enter Original acknowledgement number and date of filing of Original Return > Enter other required details > Click ‘Preview and Submit’ to submit the revised return Enter the electronic verification code or OTP (If e-verification mode is chosen)

Select option No for Are you filling u/s 119(2)(b)/92CD for submitting revised return e-File

Reference:
https://incometaxindiaefiling.gov.in/

http://freefincal.com/efile-itr-guide-itr2-and-itr4/
https://freefincal.com/handling-mismatch-between-salary-income-in-return-and-form-26as-adjustments-u-s-1431a/

http://www.bemoneyaware.com/blog/income-tax-challan-280/

http://www.bemoneyaware.com/blog/exempt-income-tax/https://www.bemoneyaware.com/blog/income-tax-notice-inconsistency-salary-form26as/
http://simpleinterest.in/filing-income-tax-return-online/
http://yourownadviser.com/articles/tax/intimation-us-1431-of-the-income-tax-act
https://cleartax.in
https://swayam.gov.in/