
(May Peace, Mercy and Blessings of Allah be on all of you)
Eid and Fitr both are originated from Arabic, Eid means "festivity" or "celebration"and fitr means "to break the fast" (Malik's Muwatta Book 10, Number 10.2.5) or it may be translated as "nature" from the word "fitra.",

The unique festival of Eid -ul -Fitr has its own significance which is not connected with any historical event, changes of seasons, cycles of agriculture or to any worldly affairs. Its significance is purely spiritual when the Muslims thank Allah for having giving them the will, the strength and the endurance to observe fasts and to obey His commandment during the blessed month of Ramadan.
" Eid al-Fitr / Id-ul-Fitr is celebrated on first day of Shawwal, the month which follows Ramadan in the Islamic calendar. The Eid day is confirmed after sighting the moon as it could be after 29 or 30 Ramadan, depends upon the moon.
Narrated by Abdullah bin Umar (May Allah be pleased with him): Allah's Apostle (Peace be Upon Him) mentioned Ramadan and said, "Do not fast unless you see the crescent (of Ramadan), and do not give up fasting till you see the crescent (of Shawwal), but if the sky is overcast (if you cannot see it), then act on estimation (i.e. count month of Sha'ban or Ramadan as 30 days)." (Bukhari, Volume 3, Book 31, Number 130).
Rituals of Eid-ul-Fiter
1. No Fasting.
Muslims are not allowed to fast on both the Eid days i.e. 'Id-ul-Fitr and 'Id-ul-Adha.
Abu Huraira (Allah be pleased with him) reported that the Messenger of Allah (May peace Be Upon Him) forbade to observe fast on these two days. 'Id-ul-Adha and 'Id-ul-Fitr. (Muslim Book 006, Number 2534)
2. Paying Zakat / Sadqat ul Fitr (Obligatory Charity Tax after Ramadan)
Zakat / Sadaqat-ul-Fitr (Obligatory Charity Tax after Ramadan) is must for every one which includes all man, women, old and young people, children and slaves.
Ibn 'Umar (May Allah be pleased with him) said ;Allah's Apostle (Peace be Upon Him) has made Sadaqat-ul-Fitr obligatory, (and it was), either one Sa' of barley or one Sa' of dates (and its payment was obligatory) on young and old people, and on free men as well as on slaves. (Bukhari, Volume 2, Book 25, Number 588)
Ibn 'Umar (May Allah be pleased with him) said, "The Prophet (Peace be Upon Him) made incumbent on every male or female, free man or slave, the payment of one Sa' of dates or barley as Sadaqat-ul-Fitr (or said Sadaqa-Ramadan)." The people then substituted half Sa' of wheat for that. Ibn 'Umar (May Allah be pleased with him) used to give dates (as Sadaqat-ulFitr). Once there was scarcity of dates in Medina and Ibn 'Umar (May Allah be pleased with him) gave barley. 'And Ibn 'Umar (May Allah be pleased with him) used to give Sadaqat-ul-Fitr for every young and old person. He even used to give on behalf of my children. Ibn 'Umar (May Allah be pleased with him) used to give Sadaqat-ul-Fitr to those who had been officially appointed for its collection. People used to give Sadaqat-ul-Fitr (even) a day or two before the 'Id. (Bukhari; Volume 2, Book25, Number 587).

Explanation:-
1. People without having food of one day and night are free from Zakat / Sadaqat-ul-Fitr (Obligatory Charity Tax after Ramadan). [Tafheem ul sunnah seires # 9 Page 81 by Iqbal Kelani, Hadith Publications Lahore.]
2. The amount of obligatory charity tax is one Sa' (2,1/2 kg) of eatable goods like wheat, rice, date or barley etc any (helal) eatable which is in use. 2,1/2 kg of eatables may be given as per your choice / convenience to some poor. It must be paid atleast before one or two days of Eid so that poors and needies can also participate happily in Eid celebrations.
3. Zakat / Sadaqat-ul-Fitr (Obligatory Charity Tax after Ramadan) must be given to those who accept it. (Bukhari - Arabic/English, Vol. 2, p.339, no. 579)

Zakat / Sadaqat-ul-Fitr (Obligatory Charity Tax after Ramadan) is obligatory to make the fasts pure from the wrong deeds and for arrangement of food for needies and poors. It must be paid before Eid's prayer. The person who pays it if after Eid's prayer, his / her Zakat / Sadaqat-ul-Fitr (Obligatory Charity Tax after Ramadan) will count as the normal charity and not as Zakat / Sadaqat-ul-Fitr. (Sunan Ibn e Majah, Lilabni, Part 1, Number 1480).
4. Offering Eid Prayers:
The special prayer of Eid ul Fitr is offered in the morning of Eid besides the regular five obligatory prayers which is not recommended to delay; its time is just after sunrise.
Yazid bin Khumair Ar-Rahabi (May Allah be pleased with him) said: Abdullah bin Busr (May Allah be pleased with him), the companion of Allah's Messenger (Peace be Upon Him), once went with the people on the day of Eid (Fitr or Adha). He criticized the delay of Imam and said, "We used to be finished at this hour (and that was the time one could pray voluntary prayers i.e. just after sunrise)." (Sunan Abu Dawud,Vol1, Book of Salat, Number 1135).

5. Women attending the Eid Prayers
According to the Sunnah (act of our Beloved Prophet Mohammad Peace be Upon Him) of the Prophet (peace and blessings be upon him) everyone is urged to attend 'Eid Prayer, and to co-operate with one another in righteousness and piety. All women / girls must go for Eid prayer to participate in combine DUA of Muslims even if they can't say prayer they need to participate in DUA. (Bukhari Volume2, BOOK 15, Number 88)
5. Offering Supererogatory Prayers
After Fajer prayer one must not offer any other prayer (Nawafil) before Eid prayer, and on eid day spend on charity as much as he / she can to help other deserving people who cannot afford even their basic necessitates so they can enjoy their eid.
Narrated by Ibn Abbas (May Allah be pleased with him): The Prophet (Peace be Upon Him) offered a two Rakat prayer on the Day of Id ul Fitr and he did not pray before or after it. Then he went towards women along with Bilal (May Allah be pleased with him) and ordered them to pay alms and so they started giving their earrings and necklaces (in charity). (Bukhari Volume 2, Book 15, Number 81)

Bath, Using Miswak & Perfume.
Ghusl (taking a bath) & Using Miswak (teeth cleaning twig made from tree) and perfume are recommended especially for eid days. (Ibn e Majah 901/1) [Females are not allowed to use perfume while going Prayer place or outside as it distracts others)
Wearing one's best clothes for Eid
This is not necessary to wear new cloths on eid if some one cannot afford but using best available cloths for eid is sunnah (the act of our Beloved Prophet Mohammad Peace be Upon Him). (Silsilah Ahadith Sahiha, lil-Bani, 1279)
Eating before going out
One must not go out to the prayer-place on Eid-ul-Fitr before eating some dates.
Anas bin Malik (May Allah be pleased with him) said 'Allah's Apostle (Peace be Upon Him) never proceeded (for the prayer) on the Day of 'Id-ul-Fitr unless he had eaten some dates. Anas (May Allah be pleased with him) also narrated: The Prophet (Peace be Upon Him) used to eat odd number of dates. (Bukhari; Volume 2, Book 15, Number 73).
While going to prayer place it is recommeneded to say Takbir till Imam's arrival.
Ibn e Umar (may Allah be pleased with Him) went out on 'Eidul-Fitr and 'Eidul-Adha, he would constantly make Takbir until he reached the prayer-place, then he would continue making Takbir until the Imam came. (Shafaee, Kitab ul Salat number 442)
Congratulating one another
People may exchange greetings and congratulate each other on Eid.
Jubayr ibn Nufayr (may Allah be pleased with Him) said, "At the time of the Prophet (peace and blessings be upon him) when people met one another on the day of Eid, they would say, Taqabbal Allahu minnaa wa minka' (may Allah accept from us and from you (our good deeds)!)." (Reported by Ibn Hajar. Fatul Bari, Book of Eids)
Changing the route on returning from the prayer-place
Jabir ibn 'Abdullah (may Allah be pleased with him) reported that the Prophet (peace and blessings of Allah be upon Him) used to take different routes on the day of 'Eid (going to and returning from the 'Eid prayer). (Bukhari, Volume 2, Book 15, Number 102)"
I wish you all a very happy and prosperous Eid

(May Allah accept it (the good deeds, fasts and prayers) from you and us).
May ALLAH bless all of Us with peace, health, prosperity and unlimited blessings. May HE guide Us throughout the life and bless us in both worlds ameen.
A Special Request of prayers for Ghaza, Burma, Syria and all the sufferers around the globe.
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Regards
Kiran