The income tax return can be filled by 2 methods: Online and offline. Inside the traditional method, one can enter all the essential details on an online form and then furnish it. By the former methods, an individual is required to download the subject income tax utility in excel or JSON format, fill the form and then save the edited part after that, generate ITR in XML file format, and upload it up on the website.
It is true that a person moves towards the simpler method called an online method. However, not all could practice the process. The person who is subjected to the ITR-1 and ITR-4 can use the online method to furnish the ITR. Those who come under ITR-2 and ITR-3 must perform the offline process to file the ITR. Also, you are enabled with the choice to file the Sahaj form ITR-1 and ITR-4 offline.
What Does the Term ITR XML File Mean?
XML is said to be the file format. It is easier to upload the information which you enter in the offline form while transforming it to an XML file. Upon uploading the XML file the details are simpler to notify on the online repository of the income tax department.
Procedure to Furnish the Income Tax Returns with an XML File
Mentioned below are the simpler process which shall support an individual in furnishing the returns with an XML file:
- Step 1: Move to the income tax e-filing portal upon www.incometaxindiaefiling.gov.in.
- Step 2: View the ‘Download’ section on the homepage of the website.
- Step 3: Opt for the assessment year for which one can urge to file the returns. On the basis of income, one can choose the fiscal year to choose and download the corresponding Income tax return form (offline utility).
- Step 4: Click on the pre-fill button to pre-populate the individual details, information of the income and the tax payment or TDS information, and others.
- Step 5: After you file the information click on to compute so that it just calculates the tax as well as the interest liability. You shall indeed remember towards the tax subjected to pay or the refund which you will get.
- Step 6: Keep the improvements and click on the Generate XML option. You can save the generated XML file on the needed location for easy access.
It is recommended to open the file and view if all the information that you have entered is correct. Now just login to your account upon the e-filing portal and upload the generated XML file. Indian taxpayers can easy generate ITR XML files via Gen IT software along with simply filing their returns in the fastest way.
Which ITR form should an Individual Opt for the Filing
Mentioned below is the table for the guidance of the ITR form which one used to file
| ITR Form | Who is it for? |
| ITR-1 | A resident individual whose annual income comes up with Rs. 50 lakh. salary, one house property, and the other income may be the income source. Agriculture income of up to Rs 5000. |
| ITR-2 | For the single and Hindu undivided family (HUF) who held with the income by gains through the business or profession and those who are qualified to file ITR-2. |
| ITR-3 | For single and Hindu undivided families (HUF) who pose with an income via profits from the businesses or professions. |
| ITR-4 | For the resident individuals, HUFs, and firms who have a yearly income of total up to Rs.50 lakh and secure the income from the business or profession computed under Section 44AD, 44ADA, or 44AE. |
| ITR-5 | For Firms, LLP, AOP, and BOI. |
| ITR-6 | Beneath Section 139(4A), 139(4B), 139(4C), or 139 (4D) towards those who are required to furnish the returns. |
Needed Preparations Towards the Income Tax Return Filing
Before knowing about the ITR XML file it is recommended to obtain the needed documents and make them easier to carry. One is urged to need the documents such as an updated bank passbook, salary slips, Form 16, Form 26AS, investment proofs, insurance documents, loans papers, rent receipts, and the additional documents beneath the tax statement. One must carry the complete prescribed documents so that the procedure to furnish the income tax filing can be easy.
