People come across numerous glitches at the time of filing their income tax returns online. Some of them are not aware of the process of e-filing in a detailed way. Some others make some mistakes during their e-filing. The Income Tax department has introduced a new process of e-filing through net banking. In a bid to ease the filing process of the tax payers, the department has rolled out this new initiative. In this post, we have come up with a detailed guide so as to e-file your income tax returns via net banking. Check it out!
Benefits of e-Filing through Net Banking
Here are some of the best advantages of e-filing through net banking:
The tax payers need not have to login into their e-filing portal by providing PAN card number, password and other details. Instead, you can easily acquire access to the e-filing account dashboard.One of the best advantages of e-filing via net banking is that this process is quite secure and faster as well.The process of e-verification is pretty simple compared to the manual process. In a single step, you can get through the e-verification process.
How to e-Filing through Net Banking?
Here is a detailed step by step procedure that helps the tax payers to file their income tax returns via net banking:
First of all, you need to login into your net banking account of any bank using your user id and password.Just tap on the e-filing link from the taxes or other services tab.You need to provide your PAN card number and other personal information in the provided fields.You have to do this in order to check whether your details match the net banking account or not.Once your details matches, you can head over to the e-filing dashboard.You need to e-file your income tax return online via net banking as usual.
Banks Providing e-Filing Service
Here is a list of banks that offer the e-filing service for all the tax payers to file their IT returns via net banking:
Allahabad BankAndhra BankAxis Bank LtdBank of IndiaBank of MaharashtraCanara BankCentral Bank of IndiaCity Union Bank LtdCorporation Bank-Corporate BankingCorporation Bank-Retail BankingDENA BANKHDFC BankICICI BankIDBI BankIndian Overseas BankKotak Mahindra BankOriental Bank of CommercePunjab National BankState Bank of IndiaSyndicate BankUCO BankUnion Bank of IndiaUnited Bank of IndiaVijaya Bank
In the below post, we have included the process for e-filing income tax return through net banking of ICICI bank and Bank of Baroda.
E-Filing through ICICI Bank Net Banking
Here are the simple steps that help the tax payers to file their income tax returns through ICICI bank net banking:
First of all, go to your ICICI bank account using your user id and password.
Navigate to the payment and transfers tab on the account. From the drop-down menu, you need to select the option that says ‘Manage your Taxes’.You will receive one time password to your registered mobile phone via SMS.
On the left side menu, you can see Income Tax e-filing in the option of Manage your Taxes. Just tap on the option.You need to select the account number and confirm the PAN card number in order to acquire access to the income tax e-filing dashboard.Just submit all your details on this account.You can see the e-filing dashboard opening in a new window.
E-Filing through Bank of Baroda Net Banking
Check out the easy steps to e-file income tax returns via Bank of Baroda net banking:
First of all, login on to the Bank of Baroda net banking account using your user id and password.From the services tax tab, you need to click on ‘Login to E-filing’ option.
Choose your account and hit continue.Just like ICICI bank, you need to confirm your PAN card number and account number. Hit continue button.Once the e-filing dashboard opens in a new window, you can start e-filing your income tax return via Bank of Baroda net banking.
Limitations of e-Filing through Net Banking
Apart from the benefits, there are some limitations or disadvantages of e-filing via net banking. Check them all!
If the income tax department finds any kind of invalid details or mismatch of your name and DOB on your PAN card and bank account, they won’t consider your e-fling IT returns.If you don’t have any net banking facility, you cannot use this method.
This is all you need to know about e-filing income tax returns via net banking.
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