Hassle-free ITR filing: How to seamlessly file your ITR with Keka and ClearTax

Every taxpayer has a crucial responsibility of filing Income Tax Returns (ITR). It is not only a legal obligation but also an essential part of effectively managing your finances. Your ITR filing allows the government to assess and collect the appropriate amount of taxes by declaring your annual income. 

Additionally, filing ITRs timely and accurately can result in numerous benefits. It assists in obtaining refunds for taxes paid in excess, simplifies loan applications, and serves as a valid proof of income for various financial transactions. Moreover, regular filing of ITRs can safeguard you from legal penalties and scrutiny by tax authorities. 

Our blog will guide you through the process of filing your ITR-1 on Keka, using ClearTax, a platform that streamlines tax filing, resulting in efficiency and convenience. Keka ensures you have access to everything you need to file an ITR at a single location, making it a seamless experience. Right from computing your taxes to downloading your form-16, everything is just a click away with Keka.   

On the other hand, ClearTax ensures to provide a smooth tax filing experience irrespective of whether you’re a salaried individual or have multiple income sources. So let’s quickly dive in and explore more. 

Who Should File an ITR? 

Filing an Income Tax Return (ITR) is a mandatory obligation for various categories of individuals. Below are the detailed conditions under which one must file an ITR: 

1. Yearly Income Below INR 50 Lakhs: 

If your annual income is less than INR 50 lakhs, you’re required to file an ITR. This ensures that the income earned is officially documented. 

2. Income from Salary or Pension: 

This applies to all individuals who earn their income through salaries or pensions. It encompasses both salaried employees working in various organizations and self-employed individuals who receive income in the form of a pension.  

3. Income from a Single House Property: 

If you earn rental income from a single house property, you must file an ITR. This is essential even if the rental income does not exceed the taxable limit, provided there are no losses carried forward from previous years.  

4. Income from Other Sources: 

Individuals earning income from other sources such as interest from bank deposits, savings accounts, or investments in Public Provident Fund (PPF) are also required to file an ITR. This includes any interest earned on fixed deposits, savings accounts, and other similar financial instruments. 

Why File ITR with ClearTax? 

Filing your Income Tax Return (ITR) with ClearTax comes with a host of advantages that streamline and simplify the entire process. Here are some compelling reasons to choose ClearTax: 

Auto-Fill Data: 

One of the standout features of ClearTax is its ability to automatically fill in your details from Form-16 within seconds. This automation significantly reduces the time and effort required for data entry, allowing you to focus on other important aspects of your tax filing. 

Multiple Form-16 Uploads: 

ClearTax makes it incredibly easy to upload multiple Form-16s, which is particularly beneficial if you have changed jobs or worked with multiple employers during a financial year. This feature ensures that all your income details are accurately captured and accounted for in your ITR. 

Eliminates Manual Entry: 

The platform minimizes the hassle of manual data entry by auto-filling your information. This not only saves time but also reduces the chances of errors that can occur when entering data manually. 

Accurate Calculations: 

ClearTax ensures that all tax calculations are precise, minimizing the risk of errors. The platform uses sophisticated algorithms to calculate your tax liability accurately, ensuring compliance with the latest tax laws and regulations. 

Smart Recommendations: 

Based on your financial details, ClearTax automatically selects the best ITR form and tax regime for you. This intelligent recommendation system helps you choose the most beneficial options for your specific situation, optimizing your tax filing process. 

Tax-Saving Tips: 

ClearTax provides intelligent suggestions to help you save on taxes. These tips are based on your financial data and are designed to maximize your deductions and exemptions, thereby reducing your overall tax liability. 

24/7 Support: 

With round-the-clock AI support and video call assistance, you can get help whenever you need it. Whether you have a question about the tax filing process or need assistance with a specific issue, ClearTax’s support team is always available to provide guidance. 

Step-by-Step Guide to Filing ITR on ClearTax via Keka 

Filing your ITR-1 through Keka using ClearTax is a straightforward and user-friendly process. Here’s a detailed guide to help you navigate through each step seamlessly: 

Step –1: Getting Started 

Begin by logging into the Keka portal. Navigate to the “My Finances” tab and, click on “Manage Tax.” Here, you’ll be able to see various options relevant to tax management. Go ahead and click on “Tax Filing.” On the top right side of the window, click the File ITR radio button. 

You will then be redirected to the ClearTax page to begin with the account settings.

Step-2: Create or Log into Your Account 

On the ClearTax page, you will need to either create a new account if you are a first-time user or log in if you already have an existing account. 

This step ensures that all your data is securely saved and easily accessible. 

Step-3: Linking Your PAN Card 

Next up is to enter PAN Details. Enter your PAN number and date of birth. This information is crucial as it links your identity with your tax filings. 

Step-4: OTP Verification 

After entering your PAN details, click on “Get OTP.” An OTP (One-Time Password) will be sent to your registered mobile number. Enter this OTP in the provided field to verify your identity and successfully link your PAN to your ClearTax account. 

Step-5: Pre-Filling Your Details 

Now, initiate the Pre-Fill Process by clicking on the “Proceed” button. 

An OTP will be sent to both your registered email and mobile number. Enter the OTP to verify and proceed.  

Step-6: Upload Form-16 

This is crucial step and ClearTax provides the convenience of automatically uploading your Form-16. In case you have worked for multiple employers during the financial year, you can also have an option to upload multiple Form-16s. 

But if you do not have the Form-16 available, you can also manually enter these details to ensure your information is complete. 

Step-7: Personal Information and Income Sources 

In this stage, you’ll need to review and edit personal information. Check all pre-filled personal details such as your name, address, and bank account information. Ensure that these details are accurate, and make the necessary edits wherever required. 

Also make sure to review the auto-filled salary details. Additionally, you can add any other sources of income you might have. This includes: 

• Capital Gains: Income from the sale of stocks, mutual funds, or other assets. 

If you have capital gains, follow these steps to accurately file them: 

Under the “Income Sources” section, click on the “Capital Gains”.  

Click on “Add Details” to input your capital gains information. Proceed to the stock and mutual funds section. 

Click on the option to select your broker. ClearTax allows you to import capital gains and tax P&L data directly from your broker. This simplifies the process and ensures accuracy. 

If you prefer, you can also upload the Tax P&L report from your broker manually. This report contains all the necessary details about your capital gains. 

 For more detailed instructions on how to file capital gains for any stock market broker, you can click on this link for additional guidance. 

• Crypto Income: Earnings from cryptocurrency transactions. 

To file taxes on earnings from cryptocurrencies or Virtual Digital Assets (VDA), follow these steps: 

Go to the “Income Sources” section, scroll down, and find the “Crypto Income” (Virtual Digital Assets – VDA) option. Click on “Add Details.” 

Choose your crypto trading platform from the list provided. 

Download the trading report from your crypto platform. This report includes all your transactions for each year. 

Upload the trading report files for each transaction year into ClearTax. The platform will then automatically calculate your tax liability based on your crypto/VDA earnings. 

• Rental Income: Income generated from renting out property. 

If you have rental income or own house property, follow these steps: 

Under the “Income Sources” tab, click on the section for “House Properties”. 

Enter the details of the rental income earned from your property. This includes any expenses incurred, such as maintenance. 

If you have paid interest on a home loan, add these details as well. This information is crucial for claiming deductions on home loan interest. 

• Interest Income: Interest earned from savings accounts, fixed deposits, PPF, etc. 

For interest income, you can proceed with the steps below: 

Under the “Income Sources” tab, click on “Interest Income.” 

Enter the details of any interest income you have earned. This can include interest from savings bank accounts, fixed deposits, Public Provident Fund (PPF), and other sources. 

Step-8: Claiming Deductions 

Claiming deductions can significantly reduce your taxable income and lower your overall tax liability. ClearTax makes it easy to claim these deductions through its user-friendly platform. Here’s a detailed guide on how to claim various deductions: 

Begin by navigating to the “Tax Savings” section within the ClearTax platform.  

Under the “Tax Savings Deductions” tab, click on “Add Details.” This will allow you to input new deduction information or review existing, pre-filled details if you have already declared your investments to your employer.  

• Editing Popular Tax-Saving Investments 

Within the “Tax Savings” section, go to “Popular Tax-Saving Investments.”  

You can edit and update the details of investments such as Section 80C (which includes PPF, ELSS, and others), National Pension System (NPS), savings bank interest, and pension contributions. Ensuring these details are accurate will help maximize your tax benefits. 

• Claiming Deductions for Loans 

Go to the “Tax Savings” section and scroll down to find the “Loans” category. 

Click on “Loans” and enter the interest amount for educational loans, home loans, or electric vehicle loans, whichever is applicable to you. After entering the necessary information, click on “Go to Next” to proceed. 

• Claiming Deductions for Insurance 

In the “Tax Savings” section and scroll down to the “Medical Insurance, Health Check-ups, Disabilities” tab. 

Click on “Add Details” and enter information such as your medical insurance premium, expenses related to health check-ups, and deductions for disabilities under Section 80D.  

• Reviewing the Tax Summary 

Once you have added all your deduction details, click on the “Tax Summary” to review a comprehensive summary of your income and deductions. This section also displays the ITR form along with the recommended tax regime for you, ensuring that you have all the information needed to finalize your return. 

After reviewing all your details, click on the “File Tax” button to proceed with filing your tax return. 

Step-9: Complete Payment 

Complete the payment process using your preferred method.  

Don’t forget to use the applicable coupon code CTPKEKA, to avail yourself of discounts on the ITR plans offered by ClearTax. 

Step-10: Self-Declaration 

Finally, confirm that all the details mentioned during the ITR filing process are correct by clicking on “Submit Return.”  

This self-declaration step is crucial for the final submission of your return. 

Congratulations! Your e-filing process is now complete. 

Upon successful submission, you will receive an acknowledgment number from the Income Tax Department. This number serves as proof that your tax return has been filed correctly and is now in the system. 

Now comes the last and final step.  

Step-11: Completing E-Verification 

To finalize your tax return, you need to complete the e-verification process. Follow these steps: 

Enter you registered mobile number and an OTP (One-Time Password) will be sent to it. 

Enter the received OTP in the designated field on the ClearTax platform to complete the e-verification. This step is crucial for validating your return and ensuring that any potential refunds are processed in a timely manner. 

Once you have entered the OTP and completed the e-verification process, your return is fully submitted. 

Typically, you can expect to receive your refund within 30 to 50 working days after completing the e-verification. 

You can log back into ClearTax to monitor the status of your ITR. You will be able to see whether your ITR has been processed. If you are eligible for a tax refund, you can also check the status of your refund. 

Need an expert to manage your ITR filing? 

We’ve got it covered! ClearTax offers an Expert Assisted plan where a CA (Chartered Accountant) or tax expert will file the ITR on your behalf. Here’s how you can opt for this service: 

Step-1: Navigate to the ClearTax partner page. Scroll down until you find the section labeled “Expert Assisted Plans.” 

Step-2: Browse through the available plans. Each plan offers different levels of assistance, tailored to meet various needs. Select the plan that best suits your requirements. 

Step-3: Enter all the necessary information required for the chosen plan. Ensure that all details are accurate to facilitate a smooth process.  

Step-4: During checkout, apply the exclusive coupon code CTPKEKA to avail of any discounts on the ITR plans. 

Once you complete the checkout process, a relationship manager will be assigned to you within 48-72 hours.  

The assigned tax expert will handle the entire ITR filing process on your behalf. They will ensure that all details are correctly entered and that your return is filed accurately and promptly. 

By opting for an Expert Assisted plan, you can rest assured that your tax return is being handled by professionals, ensuring compliance with all tax regulations. 

Bottom-line: 

By leveraging the seamless integration of Keka with ClearTax’s advanced tax filing platform, the tax filing process becomes straightforward and convenient. ClearTax also provides robust support, including 24/7 AI assistance and video call help, ensuring that you have access to expert advice whenever you need it. This comprehensive support system helps you tackle any challenges that may arise during the filing process.  

By choosing to file your ITR through Keka using ClearTax, you are assured of an accurate, efficient, and hassle-free tax filing experience. Whether you are a first-time filer or a seasoned taxpayer, ClearTax’s integration with Keka simplifies the entire process, making it as smooth and beneficial as possible.