If you want to file your Income Tax return on your own, you can do it;
1. If you are a first-time return-filer, register yourself on the income tax department‘s official e-filing portal www.incometaxindiaefiling.gov.in. Your permanent account number (PAN) acts as your user ID.
2. Keep key documents handy, including the Form 16, Form 26AS (tax credit statement), bank statements, copy of return filed last year, capital gains statement from mutual funds and brokers.
3. Go to the ‘Download’ tab to download the ITR preparation software (JAVA or Excel utility) for the relevant assessment year (Current one is 2018-19).
4. Prepare the return using the downloaded software application; pre-populate the personal details and tax payments/TDS by clicking on the ‘pre-fill’ button. Compare with the information you have to ensure the nothing is left out.5. Enter all data and click on ‘Calculate’ to compute the tax and interest liability and final figure of refund or tax payable.
6. If tax is due, make the payment immediately and enter the detail in appropriate schedule. Repeat above step so that tax payable turns ‘zero’.
7. Generate and save the ITR data in XML format.
8. Login to the e-filing website, go to ‘e-file’ and click on ‘Upload Return’.
9. Select the relevant ITR, Assessment Year and XML file saved.
10. Upload Digital Signature Certificate (DSC),If you have obtained one and it is registered with the portal, and click on ‘Submit’ button. In this case, your process will now be considered complete.
11. If you have not used DSC, ITR-V (verification form) will have to be downloaded; you can also choose to generate electronic verification code (EVC) through your bank ATM/net-banking or use Aadhaar-based OTP for e-verification.
12. In case of Physical verification, you will have to send the printed and signed ITR-V form to the I-T department’s CPC in Bengaluru by post within 120 days of e-filing your return; and acknowledgement from the department confirming receipt will complete the process.
(Penalty for filing after 31st July 2018 is Rs5, 000/-)
Source: ET Wealth