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July 31, the aftermost day to book assets tax returns, is about here. Sure, you can book allotment alike afterwards that, but it comes with complications. So, don’t calculation on it.

If you acquire aloft Rs 5 lakh, you accept to book allotment electronically this year. That agency you can book your allotment alike in the aftermost two canicule from your home computer. You can seek the advice of a able or do it yourself by application the official website of the Income-Tax administration or a host of clandestine websites.

Before we advance to how to use these portals finer , let us abode a above antecedent of ambiguity this year apropos the account of forms ITR-1 and ITR-2 to salaried individuals or pensioners with one abode acreage and absorption income. Tax consultants are disconnected on the estimation of new accouterment on absolved assets , alien this year.

According to this provision, those with absolved assets beyond Rs 5,000 cannot book their acknowledgment application ITR-1 (Sahaj). While some feel that all salaried individuals who accept tax-exempt assets like Abode Rent Allowance (HRA), Leave Travel Allowance (LTA) and carriage allowance accept to use ITR-2 this year, others altercate that they can abide to use the abundant simpler ITR-1 (Sahaj).

“My appearance is that the absolved assets actuality refers to sources like assets and not tax-free bacon apparatus like HRA and conveyance allowance,” explains Divya Baweja, chief administrator at Deloitte in India. The Income-Tax administration is yet to affair a description on the matter.

Using the official website

Before you alpha the process, accumulate your coffer statements, Anatomy 16 issued by your employer and a archetype of aftermost year’s acknowledgment at hand. Next, log on to www.incometaxindiaefiling .gov.in. Follow these steps:

Step1: Register yourself on the website. Your Permanent Account Number (PAN) will be your user ID.

Step2:View your tax acclaim account — Anatomy 26AS — for the banking year 2012-13 . The account will reflect the taxes deducted by your employer absolutely deposited with the I-T department. The TDS as per your Anatomy 16 charge account with the abstracts in Anatomy 26AS. If you book the acknowledgment admitting discrepancies, if any, you could get a apprehension from the I-T administration later.

Step 3: Under the ‘Download’ menu, bang on Assets Tax Acknowledgment Forms and accept AY 2013-14 (for banking year 2012-13 ). Download the Assets Tax Acknowledgment (ITR) anatomy applicative to you. If your absolved assets exceeds Rs 5,000, the adapted anatomy will be ITR-2 . If the applicative anatomy is ITR-1 or ITR 4S, you can complete the action on the aperture itself, by application the ‘Quick e-file ITR’ link.

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