As an Indian citizen, you know how crucial it is to have the right Income Tax Return (ITR) copies after filing the Income Tax return. If you are new to ITR filing and are unaware of how to get Income Tax Return copy online, then this article will be of great help. Read on to learn more about Income Tax Return copies, their importance, and how you can go about getting one online.
What is an Income Tax Return copy?
An Income Tax Return (ITR) copy is a form which provides information about your total income and tax for a particular year and the same is to be filed with the Income-tax Department. An ITR acknowledgement receipt (ITR-V) functions as an acknowledgement of you filing your Income Tax Return. The Income Tax department generates ITR and ITR-V against each e-filed return without adding a digital signature. Once it is generated, you can download and print the copy. You must sign ITR-V and send it to the Centralised Processing Centre, Bengaluru, within 120 days or alternatively you may e-verify the Income Tax Return using Aadhaar OTP or Electronic Verification Code (EVC) using Bank account/Demat account/Bank ATM or Net Banking or Digital Signature Certificate (DSC). Once you do this, your e-filing of Income Tax Return is confirmed and authenticated, and the income tax return processing by the Income Tax Department will begin.
Do note that you must keep a copy of these documents even after the ITR processing is completed by the Income Tax Department. It comes in handy for various other procedures.
Why is it important for you to have Income Tax Return copies?
Before moving on to how to get filed ITR copy online, it is important for you to understand why having this document is so crucial. It is a significant financial document and is required for the following processes:
- Loan application: Many lenders will require you to submit ITR copies of the last 2-3 years as income proof before sanctioning the loan amount.
- Insurance policies: If you seek a high-value insurance policy, you will have to submit ITR copies to assure your insurance provider of your capability to pay premiums.
- Visa application: ITR copies are the only acceptable income proof when applying for a visa. Embassies require these documents to ensure that you have the financial standing to return back to India.
- Attending to tax notice: If the Income Tax department sends you a notice for the past year, you can verify the same with your ITR records to submit an appropriate response to the tax department.
How to download Income Tax Return copy online?
Downloading your ITR copies is now quite straightforward. You can follow the steps below to get a copy of your ITR online:
- Visit the official income tax e-filing portal here, and click on 'Login'.
- Here, enter your user ID, password, and security access message, if any to sign in.
- When you are taken to the next page, click on tab ‘e-File' > ‘Income Tax Returns’ > ‘View Filed Returns’.
- On the next page, you will be shown all the details of your e-filed returns of all the years, including the details like date of filing, filing section, acknowledgement number etc..
- Identify the year for which you wish to obtain the ITR and the ITR-V. Thereafter Click on 'Download Form' to obtain your Income Tax Return (ITR) and click on ‘Download Receipt’ to obtain your Income Tax Return acknowledgement (ITR-V). Your ITR and ITR-V will be downloaded on your device.
That is it! Now you can download your ITR and ITR-V copies from the comfort of your home at your convenience. The IT Department also sends the ITR-V to your registered email address. So if you cannot follow this procedure, you can print that copy when you receive it.
Since you now know about how to get your ITR and ITR-V copy online, make sure that you download the copies and maintain a record of your income tax e-filings. This is especially true if you are an independent professional, business, or freelancer who might not have salary slips as income proof. Regardless of your profession, this information will come in handy to create a body of proof for your income tax filing.
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Read more about the income tax filing mistakes you need to avoid here.
* The information provided in this article is generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances. You are recommended to obtain specific professional advice from before you take any/refrain from any action. Investments are subject to changes in tax laws. Please contact a professional consultant for an exact calculation of your liabilities.