How to file ITR for FD interest?

 

Hi guys in this blog we are going to discuss about how to file ITR for FD interest. If you have generated income from FD interest only, you don’t have any other income and income tax is deducted on the interest of FD then you can easily file ITR online.

 

To get the income tax return for FD interest you need to register in income tax website. After registration you can file ITR for FD interest.

 

How to file ITR for FD interest:

Before going to file ITR for FD interest you have to check your form 26AS tax deduction form from income tax website. After that follow the following steps/

 

STEP 1: Go to www.incometax.gov.in website and open the home page of the website. You will see the login and register button on the top bar of the website. If you have not register yet than click on ‘register’ button and register yourself. If you have registered member then click on ‘login’ button.

 

STEP 2: To login into income tax website you are asked to enter your PAN number here, Enter the PAN number and click on ‘continue’.

 

STEP 2: After entering the Pan number a new page will open. Here you need to enter the password and trick on the box before ‘please confirm your secure assess massage’. Finally click on ‘continue’.

 

STEP 3: Now you are logged in to your account. You will see an option ‘file now’. Click on this option to start filing return. In this page you have to select the assessment year. Select the AY year from the box and click on ‘continue’.

STEP 4: In this page you have to select the mode of process. Select the mode as online in this page and then click on ‘proceed’.

 

STEP 5: In this new page you need to click on the ‘start new filing’ to file a fresh income tax return.

 

STEP 6: A new page will open. In this page you will see three applicable statuses. Select the status as ‘Individual’ and click on ‘continue’.

 

STEP 7: Here you have to select the ITR form. Select the ITR from as ITR 1 and click on ‘Proceed with ITR 1’.

 

STEP 8: Here you are asked a question ‘Are you filing income tax return for any of the following reason?’ You will see some answer under the question. Select the answer as ‘Taxable income is more than basic exemption limit’ and click on ‘continue’.

 

STEP 9: Now you have to go through five step validation process. The first one is personal information. You will see your PAN number on the personal information step. Click on it.

 

A new page will open where you will see your PAN number, Aadhaar number, your name, mobile number, e-mail address, communication address etc. You can make correction or change the details by click on the ‘edit’ button against the details.

 

Then scroll down the page. Select the nature of employment as ‘not applicable ‘e.g. family pension etc.’ Select the filing section as 139(1) on or before due that.

Select the option ‘No’ against the question ‘are you opting for new tax regime’.

 

STEP 10: In this step you need to add bank account. If you have already added bank account then it will be shown in this step. Keep in mind that you must select at least one account number which is validated to receive the refund. Unless you select a validated account number you can’t go forward.

 

Click on the ‘Add another’ tab to add bank account. A new page will open. Here you have to enter your Bank Account then confirm Bank Account, account type, account holder type, IFSC code, e-mail Id and mobile number here. Enter all the details correctly and click on the ‘validate’ button. Now your account will be added and it will takes few minutes to activate.

 

Again go to the personnel information page and go under account details section. Now select a validated account number from the accounts list. Finally click on ‘confirm’.

 

STEP 11: Now your personnel information section will be green tricked and confirmed. Now we have to go through the second step i.e. Gross income. Click on the gross income section. Sometimes this section found pre-field. Now you are on the gross income section. In this page you will see some different sections. You will also be seen an option ‘skip the questions’. Click on this option.

 

Since we have income only from FD interest click on the edit option under income from other sources and enter the interest earn in that financial year. It can be found on the form 26 AS. Enter the details correctly and scroll down the page. Finally click on confirm.

 

Now you are redirected to the summary page again. Here you will see that your gross income section is confirmed and a green trick will be seen.

STEP 12: Now click on the total deduction sections. A new page will open. Here you will see various sections where you will see YES and No options. If you have some deductions like LIC, PPF etc. under 80 C then you can enter the amount by clicking on YES. Otherwise select all the questions NO and click on continues.

 

Once again you are asked to verify the deductions. Check the details and click on ‘confirm’. Now your deduction section will also be turned to confirmed.

 

STEP 13: The nest section is ‘Tax Paid’. Click on it on the summary page. The Tax paid section will be seen. Here click on show details and then click on add another option. You will see this section pre-field, If it is not seen pre-field then enter the TAN number of deductor , name of the deductor , income chargeable under the salary means the interest on FD earned which you will find on form 26 AS and total tax deduction. Enter all the details correctly and click on ‘Add’.

 

Now your tax paid details will be added. Finally click on ‘confirm’. This section will also be shown as confirmed on the summary page.

 

STEP 14: The final step is ‘Total tax liability’. Click on this option. The tax calculations will be seen here. Click on the confirm button at the end of the page. Now all the five steps are turned to confirm. Click on the ‘proceed’ button to continue the process.

 

TEP 15: In this step your refund eligibility will be displayed. Trick on the box before “I”, select in my capacity as ‘self’  and click on ‘proceed to preview’ button.

 

STEP 16: All the details you have entered on the previous steps will be displayed on the screen. Check all the data once more and click on ‘proceed to validation’ button.

 

STEP 17: Validation successful massage will be displayed. Click on proceed to verification button. Now you are asked to complete your verification. Click on the option ‘e-verify now’ to e-verify instantly. You can also select the options ‘e-verify later’ or verify via ITR V.

 

Since we have select e-verify now option click on ‘continue’ button. A new page will be appeared. Here you are asked how do you want to ‘e-verify’. Select the answer using Aadhaar OTP and click on ‘continue.

 

A top up massage will appeared. Click on the box I agree to validate my Aadhar your ITR. Then click on ‘generate OTP’. An OTP will be sent to registered mobile number with aadhaar/ Enter the OTP here and click on ’validate’. Now your return verified and you nee to confirm ‘submission; Click on ‘Submit’

 

A massage will displayed saying that you have successfully filed and verified your return.

 

You can watch the following video for this process.