Mandatory e-filing of Income Tax Return

Following taxpayers shall file their returns of income only through e-filing mode:

(1) Every company shall furnish th​e return of income electronically under digital signature. In other words, for corporate taxpayer e-filing with digital signature is mandatory.

(2) A firm or an individual or a Hindu Undivided Family (HUF) whose books of account are required to be audited under section 44AB shall furnish the return of income electronically under digital signature. In other words, in such a case, e-filing with digital signature is mandatory.

(3) A resident and ordinarily resident individual/HUF having any assets (including financial interest in any entity) located outside India or signing authority in any account located outside India shall furnish the return of income electronically with or without digital signature.

(4) Taxpayers [other than covered under (1) and (2) above] having total income of more than Rs. 5,00,000 shall furnish the return of income electronically with or without digital signature.

(5) Taxpayers claiming relief under section 90, 90A or 91 shall furnish the return of income electronically with or without digital signature.

(6) A person who is required to file ITR-5 shall file the same electronically with or without digital signature. However, a firm liable to get its accounts audited under section 44AB shall furnish the return electronically under digital Signature

(7) A taxpayer who is required to furnish a report of audit under section 10(23C)(iv)​, 10(23C)(v), 10(23C)(vi), 10(23C)(via), 10A, 10AA, 12A(1)(b), 44AB, 44DA, 50B, 80-IA,80-IB, 80-IC , 80-ID, 80JJAA , 80LA, 92E, 115JB or 115VW​ shall furnish the return of income electronically with or without digital signature.

(8) A political party who is liable to file return of income shall file the same electronically with digital signature.

(*) Where the Return of income is furnished electronically without digital signature, then the taxpayer should take two printed copies of Form ITR-V. One copy of ITR-V, duly signed by the taxpayer, has to be sent (within the period specified in this regard, i.e., 120 days) by ordinary post or speed post to "Income Tax Department – CPC, Post Bag No. 1, Electronic City Post Office, Bengaluru–560100 (Karnataka). The other copy may be retained by the taxpayer for his record.​

Income Tax :- Reminder of e-filing for Income Tax Return of Assessment Year 2014-15

Friends

         Reminder from Income Tax Department has been sent by email to those assessees  who have not filed their Income tax return for Financial Year 2013-14 or Assessment Year 2014-15. Reminders are  based on data available with e-filing website of Income tax India. In the reminder, department has asked some questions in  a online form in which Assessee has to inform or provide the reason for non filing of return. Assessee can choose the option applicable to him and after choosing his option he can click the submit button given in the email :- 

A format of one such letter is as follows :- 

• Reminder for Filing of Income Tax Return for Assessment Year 2014-15 – PAN: ABCPJXXXXP
  
• Dear Taxpayer,
  
  This is a gentle reminder for you to file your Income Tax Return for Assessment Year 2014-15. Though, the due date for filing returns for AY 2014-15 is over, there is a provision under the Income Tax Act to file a belated return which may help you to remain compliant with requirements of law. E-filing is simple, easy and convenient as you would have experienced in previous years.
  
  You are, therefore, kindly requested to login to https://incometaxindiaefiling.gov.in and download the free return preparation software with a host of new features to help you in preparing the Income Tax return and submit your return. You can also prepare and submit ITR-1 and ITR-4S online.
  
  Please take some time to browse through all the value – added services offered on the E-filing website that will help you prepare your return accurately and guide you in case of any prior pending items.
  
            Will be submitting ITR shortly.
            Already submitted the ITR of AY 2014-15 online.
            Already submitted the ITR of AY 2014-15 in paper-mode.
            Income is below taxable limit for AY 2014-15.
  
  Needless to mention that the quicker you submit your return and send the signed ITR-V (ITR-Verification) form to CPC, Bangalore, the faster you will get your refund, if any, credited to your bank account. As on 23rd December 2014, over 58.17 lakh refunds have already been issued for AY 2014-15! File early to get your return processed soon.
  
  Regards,
  e-Filing Team,
  Income Tax Department 

Income Tax :- Login income tax e-Filing site through Bank Account

Friends, In case you want to login your income tax account at www.incometaxindiaefiling.gov.in and you have forgotten login password to sign in. The forgotten option can be used to recover Passwod  at incometaxindiaefiling.gov.in using the net-banking facility of your bank.  Still this facility is not available in all Indian Banks, it is only available in some banks detailed below :-

At this time the facility of direct e-Filing Login through Net banking is available through the following banks:

1. Corporation Bank-Retail Banking: https://www.corpretail.com/RetailBank
2. Corporation Bank-Corporate Banking: https://www.corpbank.biz/CorpBank/
3. Union Bank of India: https://www.unionbankonline.co.in/
4. Oriental Bank of Commerce: https://www.obconline.co.in/
5. City Union Bank Ltd: https://www.onlinecub.net/
6. Bank of India: http://www.bankofindia.co.in/english/home.aspx
7. Kotak Mahindra Bank: https://www.kotak.com/
8. Punjab National Bank: https://netbanking.netpnb.com/

The detailed steps are as follows -

• Taxpayer should be a registered user of Income Tax e-Filing Portal.
• Taxpayer should have already submitted the PAN details to the Bank. PAN is required to identify the taxpayer’s e-Filing account with the Income Tax Department.
• Taxpayer have to first go to the Internet/ Net / Online Banking website of the Bank which has already registered for this facility with the Department.
• Taxpayer after logging into his Net Banking account should select “Income Tax e-Filing Login” tab/menu item
• Taxpayer should Select the account number and enter the PAN for verification and click Submit
• Taxpayer should Accept the Rules and Regulations details
• Taxpayer should confirm that he may be redirected to his Income Tax Department e-Filing account – home page.
• Taxpayer can now reset the password and also avail of all services provided by the e-Filing Website of Income Tax Department, including, filing Income Tax Return.

Advantages of using this new facility

• Taxpayer gets direct access to his e-Filing account even if he has forgotten his password.
• Taxpayer gets a secure and safe way to login into his e-Filing account.
• Taxpayer can safeguard his e-Filing account by selecting/opting for “Password Resetting” only by using Digital Signature Certificate or through this new facility of direct login from his net-banking account, thereby preventing others from unauthorized access to his account. (coming soon….)
• Other benefits (coming soon…..)

Detailed steps using example of Corporation Bank Net banking

• Go to https://www.corpretail.com/RetailBank/
  
  
• Login in to your Corporation Bank Net banking account using your Bank provided User ID and password
  
  
• Corporation Bank Net banking Homepage < Select Utility Payments < Select “Income Tax e-Filing Login”

Select Account Number (IFSC Code) from the drop down

• Enter PAN
• Accept the Terms & Conditions
• Click on Submit

Click OK to get re-directed and automatically logged into Income tax Department e-Filing account (https://incometaxindiaefiling.gov.in)

You will get re-directed to Income Tax Department e-Filing website (https://incometaxindiaefiling.gov.in) and the home page showing the “Dashboard” after login will appear.

e-Filing Portal Taxpayer Dashboard

• You may now reset your password using “Profile Settings” or avail of any service offered.
• Remember: This facility is a safe and secure method for direct login to your Income Tax Department e-Filing account only and is available ONLY through your Bank website after you have logged in and not through any other organization or entity or website.
• Note: Your net-banking User ID or password is NOT shared by the bank to the Department

Income Tax :- Direct e-filing of Income Tax Return from Banks

Friends,   Income Tax Department has provided facility of e-filing of Income Tax Return through Banks.  Customers using internet banking facility can avail benefit of this service.  Name, Address , Pan Number, Date of Birth , Bank Account Number, IFSC Codes etc may be automatically captured in filing of  income tax return from Bank Verified database.  

                In the first instance this facility has been started with Corporation Bank, Union Bank of India and  Oriental Bank of Commerce. Others banks are expected to follow the same. 

Income Tax : -Solution for Login Problem due to PIN number through email or mobile.

Friends,   It is generally found that there is login problem due to PIN or low connectivity etc on 31.07.2014 as it is Last Date for submission of Income Tax Returns for Assessment Year 2014-15 for those assessee's who have salaried income and interest income.  A large numbers of assessee falls in this category.  But due to heavy load on last date there was some problem in submission online  income tax return.  

In case you are facing login problem due to PIN you may use the following trick for submit your income tax return. :-

Solution for Non Getting PIN on mobile or email. 

     Presently user can use off-line Excel Based or Java Based utility. In Java based utility he may Login Directly without any updation of Mobile No. and Email address. Initially, he may use Pre-fill link and then enter your income data and after that finally, he can use submit button for uploading of Income Tax Return. In this may taxpayer or user can upload his Income Tax return without updating Mobile No and Email address on income tax website.

Income Tax :- What is e-file, What is Process of e-file, How can i e-file.

How To e-File

What is e-Filing?

 The process of electronically filing Income tax returns through the internet is known as e-Filing.

 e-Filing of Returns/Forms is mandatory for :

            Any assessee having total income of ? 5 Lakhs and above for from AY 2013-14 and 

              subsequent Assessment Years.

            Individual/ HUF, being resident, having assets located outside India from AY 

               2012-13 and subsequent Assessment Years.

            An assessee required to furnish a report of audit specified under sections 10(23C)(iv), 

               10(23C)(v),10(23C)(vi) ,10(23C)(via) , 10A, 12A(1)(b), 44AB, 80-IA, 80-IB, 80-IC,

               80-ID, 80JJAA, 80LA, 92E or 115JB of the Act, shall furnish the said report of audit 

               and the return of Income electronically from AY 2013-14 and subsequent Assessment Years.

            An assessee required to give a notice under Section 11(2)(a) to the Assessing Officer 

                from AY 2014-15 and subsequent Assessment Years.

            All companies.

            Firm (to whom provisions of section 44AB is not applicable), AOP, BOI, Artificial 

               Juridical Person , Co-operative Society and Local Authority required to file ITR 5 from

               AY 2014-15 and subsequent Assessment Years.

            An assessee required to furnish return u/s 139 (4B) in ITR 7.

            A resident who has signing authority in any account located outside India.

            A person who claims relief under sections 90 or 90A or deduction under section 91.

Types of e-Filing

There are three ways to file Income Tax Returns electronically:

 Option 1: Use Digital Signature Certificate (DSC) to e-File. There is no further action needed, if filed with a DSC.

 Option 2: e-File without Digital Signature Certificate. In this case an ITR-V Form is generated. The Form should be printed, signed and submitted to CPC, Bangalore using Ordinary Post or Speed Post ONLY within 120 days from the date of e-Filing. There is no further action needed, if ITR-V Form is submitted.

 Option 3: e-File the Income Tax Return through an e-Return Intermediary (ERI) with or without Digital Signature Certificate (DSC).

e-Filing Process

Note:

 It is mandatory to file Income Tax Forms using Digital Signature Certificate (DSC) by a Chartered Accountant.

 The Digital Signature Certificate (DSC) used in e-Filing the Income Tax Return/Forms should be registered on e-Filing application.

How to e-File?

To upload Income Tax Return:

 Step 1: On homepage, GO TO 'Downloads' section and select applicable Income Tax Return Form of the relevant Assessment Year OR Login to e-Filing application and GO TO 'Downloads'-->'Income Tax Return Forms' and select applicable Income Tax Return Form of the relevant Assessment Year.

 Step 2: Download the excel utility of the Income Tax Return (ITR).

 Step 3: Fill the excel utility and Validate. (You can pre-fill the Personal and Tax Information in your Income Tax Return. To pre-fill, Login to e-Filing application and GO TO --> Downloads --> Download Pre-filled XML to the desired path/destination in your desktop/system. Open the Excel utility (ITR) and click the "Pre-fill" button. This will require you to select the path/destination where you have saved the XML and click OK. The details will be uploaded into your utility. You may edit the tax details, if needed).

 Step 4: Generate an XML file and save in desired path/destination in your desktop/system.

 Step 5: LOGIN to e-Filing application and GO TO --> e-File --> Upload Return.

 Step 6: Select the Income Tax Return Form and the Assessment Year.

 Step 7: Browse and Select the XML file

 Step 8: Upload Digital Signature Certificate, if available and applicable.

 Step 9: Click 'SUBMIT'.

 Step 10: On successful upload, Acknowledgement details would be displayed. Click on the link to view or generate a printout of Acknowledgement/ITR-V Form.

Note:

 You can upload the returns after you have registered in e-Filing.

 To e-File using Digital Signature Certificate (DSC), the DSC should be registered in the application. (To register DSC, you should LOGIN and GO TO --> Profile Settings --> Register Digital Signature Certificate)

 If the Income Tax Return is uploaded with DSC (digitally signed), on generation of "Acknowledgement", the Return Filing process is complete. The return will be further processed and the Assessee will be notified accordingly. Please check your emails on these notifications

 If the return is not uploaded with a DSC (digitally signed), on successful upload of e-Return, an ITR-V Form will be generated. This is an Acknowledgement cum Verification form. A duly verified ITR-V form should be signed and submitted to CPC, Post Bag No. 1, Electronic City Post Office, Bangalore - 560100 by Ordinary Post or Speed Post (without Acknowledgment) ONLY, within 120 days from the date of e-Filing.

 On receipt of the ITR-V at CPC, the return will be further processed and the Assessee will be notified accordingly. Please check your emails on these notifications

Prepare and Submit ITR1/ITR 4S Online:

The taxpayer has the option of submitting ITR 1/ITR 4S by way of Uploading XML OR by Online submission

 Step 1: Login to e-Filing application

 Step 2: GO TO 'e-File' --> 'Prepare and Submit ITR Online'

 Step 3: Select the Income Tax Return Form ITR 1/ITR 4S and the Assessment Year.

 Step 4: Fill in the details and click the SUBMIT button

 Step 5: On successful submission, Acknowledgement detail is displayed. Click on the link to view or generate a printout of Acknowledgement/ITR-V Form.

Note:

 The Income Tax Return, ITR 1/ITR 4S Online, can be submitted using a Digital Signature Certificate.

 To e-File using DSC, it should be registered in the e-Filing application.

 If the Income Tax Return is digitally signed, on generation of "Acknowledgement" the Return Filing process is complete. The return will be further processed and the Assessee will be notified accordingly. Please check your emails on these notifications

 If the return is not e-Filed with a DSC (digitally signed), an ITR-V Form will be generated. This is an Acknowledgement cum Verification form. A duly verified ITR-V form should be signed and submitted to CPC, Post Bag No. 1, Electronic City Post Office, Bangalore - 560100 by Ordinary Post or Speed Post (without Acknowledgment) ONLY, within 120 days from the date of e-Filing.

 On receipt of the ITR-V at CPC, the return will be further processed and the Assessee will be notified accordingly. Please check your emails on these notifications

To upload Income Tax Form by Tax Professional:

 Step 1: GO TO 'Downloads' section and select applicable Income Tax Form of the relevant Assessment Year OR Login to e-Filing application and GO TO 'Downloads'-->'Download Forms' and select applicable Income Tax Form of the relevant Assessment Year.

 Step 2: Download the excel utility of the Income Tax Form.

 Step 3: Fill the excel utility and Validate.

 Step 4: Generate an XML file and save in desired path/destination in your desktop/system.

 Step 5: LOGIN to e-Filing application and GO TO --> e-File --> Upload Form.

 Step 6: Select the Income Tax Form and the Assessment Year.

 Step 7: Browse and Select the XML file

 Step 8: Upload Digital Signature Certificate.

 Step 9: Click 'SUBMIT'.

 Step 10: On successful upload, the Income Tax Form is sent to Assessee's workflow for acceptance.

 Step 11: The Assessee should LOGIN to e-Filing application, GO TO Worklist and accept/reject the Income Tax Form.

 Step 12: On Approval, the Form is successfully submitted with e-Filing application. No further action is required.

 Step 13: If Rejected, the Tax Professional can prepare and e-File the Income Tax Form again by following the above mentioned steps.

Note:

 You can upload the Forms after you have registered in e-Filing.

 Assessee can "Add CA", using My Account menu, after login.

 To e-File using Digital Signature Certificate (DSC), the DSC should be registered in the application. (To register DSC, you should LOGIN and GO TO --> Profile Settings --> Register Digital Signature Certificate)

 The Form will be further processed and the Assessee will be intimated accordingly. Please check your emails on these intimations.

To view the presentation on how to e-File, GO TO Help --> e-Filing --> Presentation

Income Tax :- Login Problem due to PIN number through email or Mobile No.

Friends   Now it is known by everyone that Income Tax Department is sending PIN on mobile or email to e-file Income Tax Return.   Income Tax Department has restricted to enter same mobile number or email address in different logins for e-filing of Income Tax Returns.  Too many times it has been found that user receive PIN on mobile and donot receive PIN on email.  It may be due to business of server etc.  However taxpayer or user suffers for e-filing of his Income Tax Return. 

Income tax department has also released a press release on 07.07.2014 for updating Mobile No. and Email Address in login which is given below :-

A valid Email ID and Mobile Number to be Registered/Updated on the E-Filing Website of the Income Tax Department

A valid Email ID and Mobile Number has to be registered/updated on the e-filing website of the Income Tax Department so that direct communication with taxpayer can be possible. For details, taxpayers can log on to:https://incometaxindiaefiling.gov.in/eFiling/Portal/StaticPDF/Update_Contact_Details.pdf) The Department will send separate One Time Passwords (OTP) also referred as PIN on the mobile and email provided by the taxpayer. The OTPs have to be entered by the taxpayer after logging into their e-filing account to authenticate the same.  The OTPs will remain valid for 24 hours within which the taxpayer has to complete the process. For ‘Foreign/ NRI’ taxpayers, the OTP validation of the email ID would be sufficient. Validation of email and mobile numbers has been introduced to facilitate taxpayers as in many cases incorrect emails and mobile numbers have been provided and taxpayers did not receive important communication from the Department. Further, it has been observed that in many cases taxpayers are not able to reset their password since the new temporary password from the Department may be sent to their registered email which may be different from the taxpayer’s personal email, e.g. email of their intermediary. This is a one-time process to validate the mobile number and email ID. However, whenever the taxpayer changes the Mobile Number or email ID in their Profile, the process will be repeated to ensure that the particulars provided are correct. Further, this validation will ensure that Department can send an OTP for resetting the password used for Login in case the taxpayer has forgotten the password. One mobile number or email ID can be used for a maximum of 10 user accounts as the Primary Contact- Mobile Number and Email ID in e-Filing. This is to ensure that family members and related business concerns (not exceeding 10 separate users) not having personal email or mobile can be covered under a common email or mobile, but in general taxpayers should have their own unique email ID and Mobile registered with the Department. The taxpayer can enter any other person’s email or mobile number in addition, as a Secondary Contact (without any restriction on the number of user accounts linked as a Secondary Contact). Using “Profile Settings à My Profile” the taxpayer can select to include the Secondary Contact to also receive emails, alerts etc. It is advised that the emails and SMS from the Income tax Department may be included in the ‘safe list’ or ‘white list’ to prevent the communications from the Department from being blocked or rejected or sent to Spam folder. Taxpayers are also advised not to share their user-id and password of their e-filing account with others to prevent un-authorized access.Taxpayers can reset their password using the 'Forgot Password?' link while logging in to their e-filing account and by providing the necessary details. The Department requests the cooperation of all taxpayers for completing this validation process at the earliest for a smooth and convenient return filing process. ***** DSM/ka (Release ID :106084)

Solution for Non Getting PIN on mobile or email. 

       Presently  user can use off-line Excel Based or Java Based utility.  In Java based utility he may Login Directly without any updation  of Mobile No. and Email address.   Initially, he may use Pre-fill link and then enter your income data and after that finally, he can use submit button for uploading of Income Tax Return.  In this may taxpayer or user can upload his Income Tax return without updating Mobile No and Email address on income tax website.   

Click Here to download Java Based or Excel Based Utility. 

Income Tax :- Due Date extended from 30-September-2013 to 31-October-2013

Keeping in view of the difficulty in e-filing of report of audit and corresponding income tax returns, The Central Board of Direct Taxes has increased due date from 30-09-2013 to 31.10.2013.  Orders Dated 24.10.2013 in detail is given below :-

F.No. 225/117/2013/ITA.II

Government of India

Ministry of Finance

Department of Revenue

Central Board of Direct Taxes

Dated- 24th October, 2013

Order under Section 119 of the Income-tax Act. 1961.

In exercise of powers conferred under section 119 of the Income-tax 1961, the Central Board of Direct Taxes, in continuation to order u/s 119 dated 26.09.2013 in F.No. 225/117/2013/1TA.II, hereby directs that in cases where the 'due date' of furnishing reports of audit and corresponding income-tax returns was 30th September, 2013 and where the same are furnished electronically on or before 31st October, 2013, such reports of audit and returns of income shall be deemed to have been furnished within the 'due date' prescribed under section 139 of the Income-tax Act, 1961.

Rohit Garg

Deputy-Secretary to Government of India

Income Tax :- Defective Return under section 139 (9)

To avoid complication in future regarding defective income  tax return, assessee should aware about defective return.  Details of defective income tax return u/s 139(9) are given below :-

Defective Return [Section 139(9)]

(1) Under this sub-section, the Assessing Officer has the power to call upon the assessee to rectify a defective return.

(2) Where the Assessing Officer considers that the return of income furnished by the assessee is defective, he may intimate the defect to the assessee and give him an opportunity to rectify the defect within a period of 15 days from the date of such intimation. The Assessing Officer has the discretion to extend the time period beyond 15 days, on an application made by the assessee.

(3) If the defect is not rectified within the period of 15 days or such further extended period, then the return would be treated as an invalid return. The consequential effect would be the same as if the assessee had failed to furnish the return.

(4) Where, however, the assessee rectifies the defect after the expiry of the period of 15 days or the further extended period, but before assessment is made, the Assessing Officer can condone the delay and treat the return as a valid return.

(5) A return of income shall be regarded as defective unless all the following conditions are fulfilled, namely:

(a) The annexures, statements and columns in the return of income relating to computation of income chargeable under each head of income, computations of gross total income and total income have been duly filled in.

(b) The return of income is accompanied by the following, namely:

       (i) a statement showing the computation of the tax payable on the basis of the return.

     (ii) the report of the audit obtained under section 44AB (If such report has been furnished prior to furnishing the return of income, a copy of such report and the proof of furnishing the report should be attached).

      (iii) the proof regarding the tax, if any, claimed to have been deducted or collected at source and the advance tax and tax on self-assessment, if any, claimed to have been paid. (However, the return will not be regarded as defective if  (a) a certificate for tax deducted or collected was not furnished under section 203 or section 206C to the person furnishing his return of income, (b) such certificate is produced within a period of 2 years).

    (iv) the proof of the amount of compulsory deposit, if any, claimed to have been paid under the Compulsory Deposit Scheme (Income-tax Payers) Act, 1974;

(c) Where regular books of account are maintained by an assessee, the return of income is

accompanied by the following -

       (i) copies of manufacturing account, trading account, profit and loss account or income and expenditure account, or any other similar account and balance sheet;

      (ii) the personal accounts as detailed below -

(1) Proprietary business or profession	The personal account of the proprietor
(2) Firm, association of persons or body of individuals	personal accounts of partners or members
(3) Partner or member of a firm, association of persons or body of individuals	partner’s personal account in firm member’s personal account in the association of persons

(d) Where the accounts of the assessee have been audited, the return should be accompanied by copies of the audited profit and loss account and balance sheet and the auditor’s report.

(e) Where the cost accounts of an assessee have been audited under section 233B of Companies Act, 1956, the return should be accompanied by such report.

(f) Where regular books of account are not maintained by the assessee, the return should be accompanied by -

         (i) a statement indicating -

                    (1) the amount of turnover or gross receipts, (2) gross profit,

                    (3) expenses and (4) net profit 

                    of the business or profession;

        (ii) the basis on which such amounts mentioned in (1) above have been computed,

        (iii) the amounts of total sundry debtors, sundry creditors, stock-in-trade and cash balance as at the end of the previous year.

Note- Points (b) to (f) given above are not practically relevant since the assessee has to furnish annexure-less return of income.

Extension in e-filing Income Tax Return upto 05.08.2013

I had also tried to open income tax e-filing website on 30.07.2013 or on 31.07.2013 , there was problem. It may be due to heavy rush of Income Tax Filers or Due to new facility named "Quick e-file return " launched by Income Tax return. In Quick e-file return, user continuously use income tax e-filing website till the submission of his return. 

Since ICAI was reported of the difficulties being faced while uploading the income tax returns in the e-filing website, the matter was taken up with appropriate authorities. The authorities have shared a Trouble Shooting guide for problems in accessing the www.incometaxindiaefiling.gov.in with us with a request to spread the message. Members interested may please click on the link below. 

Considering the difficulties being faced by assessees at large, ICAI had requested CBDT to extend the due date of e-filing return of income. Accordingly, the date has been extended to 05.08.2013. 

Source :- http://www.icai.org

Income Tax Department has also confirmed this information through it's order under section 119 of the Income Tax Act 1961 vide Notification No. F.No. 225/117/2013/ITA.II dated 31.07.2013.  Copy of the same is also given below :-

Income Tax :- Awareness regarding e-filing of Income Tax Return

                       We are again at the tax filing time of the year and the due date of July 31 is just a few days away. It is mandatory for individuals to file the return electronically if the taxable income exceeds Rs 500,000. It is important to furnish the information accurately for speedy and error-free processing. As most of us tend to file the return at the last minute, there are greater chances of minor errors while filing the returns electronically. Some of the important considerations for error-free tax filings are outlined below.

To begin, select the appropriate return form, based on the streams of income. For instance, ITR-1 (Sahaj) is applicable for individuals with salary income, income from other sources and income/loss from one house property. ITR-2 is applicable if you have capital gains/loss, income from more than one house property, foreign assets, brought forward losses, exempt income of more than Rs 5,000 etc.

Furnish the personal information accurately like PAN, address, e-mail ID, mobile number, residential status, bank account details, etc. Providing accurate details like bank account information and address would ensure timely refund.

Disclosure of correct and accurate income is mandatory. The income disclosed in the total income schedule should match with the income in various schedules like salary, house property, capital gains, other sources, etc. Also, the losses should be appropriately disclosed in the respective schedules to ensure carry-forward to subsequent years.

Ensure all taxes paid/deducted at source have been properly claimed in the return. As a good practice, taxes paid should be verified with Form 26AS to avoid any future demand/short payment of refunds. Also, the details of self-assessment tax and advance tax should be reported at the appropriate place.

Disclosure of foreign assets, bank accounts and foreign trusts are mandatory for individuals qualifying as Resident and Ordinarily Resident in India. Also, declare the exempt income such as dividend income, interest income exempt from tax,etc, though this is not taxable.

In addition, it is important to maintain the back-up documents like Form 16, lease agreements, bank statements or other income details which might be required if the returns are selected for scrutiny by the tax office.

The time spent before filing of a tax return is important and works like the 'Stitch in time saves nine' reminder.

The author is tax partner, EY. This is the first of a three-part series on how to file tax returns

e-filing : How can i recover income tax e-filing password ?

Friends    It is human problem that you have forget your income tax e-filing password.  There is no problem in user id as income tax department has created same user id of all tax payer in case of individual, but password is user friendly.  If you have forgotten your password, you may apply following trick to recover  your password.

Forgot Password

Problem Description :I have forgotten my password. How can I reset my password?

Corrective Action:Password can be reset by following the below steps:

• Click on the 'Login here' option on the homepage.
• Click on 'Forgot Password' link.
• Enter your User ID and click 'Continue'.
• You can choose to reset your password using one of the three options- Answer Secret  Question, Upload Digital Signature Certificate (if registered), OR Provide e-Filing   acknowledgment Number and Bank Account Number.
• Provide the required details and Submit.
• On submission, the details entered are validated. On success, the user will be able to enter  the new and confirm password and click SUBMIT.
• User will be able to LOGIN with the new password.

Problem Description :What is the secret question and answer I need to provide to reset my

password?

Corrective Action:The Secret Question and Answer is the one selected at the time of registration OR

if you have changed it on a later date under 'Profile settings'.

Provide the same secret question and answer to reset the password.

Problem Description :What is Acknowledgment Number under 'Enter e-Filed Acknowledgment

Number and Bank Account Number'?

Corrective Action:The Acknowledgment Number is the 15 digit number generated when an Income

Tax Return is e-Filed. To reset the password using this option, you should enter the Acknowledgment

Number, select the Assessment Year for which the return is e-Filed and enter the Bank Account

Number as provided in the e-Filed Income Tax Return of the selected Assessment Year.

Problem Description :I am trying to upload the Digital Signature Certificate but it displaying an error.

Corrective Action:In case you are not able to upload Digital Signature Certificate, it could be due to

the following reasons:

• The Digital Signature Certificate used is not the registered Digital Signature Certificate. Use the same registered Digital Signature Certificate to LOGIN.
• You have not registered your Digital Signature Certificate. You cannot use this option to reset the password till the time the DSC is registered.
• Digital Signature Certificate is Revoked (Invalid) or Expired. Contact the Certificate Provider in such cases. Digital Signature Certificate is not from a Trusted Certificate provider. Contact the Certificate provider in such cases.

Income Tax :- Useful Codes for e-filing Income Tax Return

Friends, 

              On filing Income Tax Return, some codes are required like state code, status code, business code etc.  These codes are required either return is being submitting on-line or off-line.   Before submitting Income Tax Return, knowledge of below codes is must. 

List of Useful Codes

Status of Taxpayer

I   Individual

H Hindu Undivided Family (HUF)

1 Firm

2 Local Authority

3 Cooperative Bank

4 Cooperative Society

5 Any other AOP or BOI

6 Public Company

7 Private Company

8 Others

Activity Code for Part A - Nature of Business

0101 Manufacturing Industry [Agro-based industries]

0102 Manufacturing Industry [Automobile and Auto parts]

0103 Manufacturing Industry [Cement]

0104 Manufacturing Industry [Diamond cutting]

0105 Manufacturing Industry [Drugs and Pharmaceuticals]

0106 Manufacturing Industry [Electronics including Computer Hardware]

0107 Manufacturing Industry [Engineering goods]

0108 Manufacturing Industry [Fertilizers, Chemicals, Paints]

0109 Manufacturing Industry [Flour & Rice Mills]

0110 Manufacturing Industry [Food Processing Units]

0111 Manufacturing Industry [Marble & Granite]

0112 Manufacturing Industry [Paper]

0113 Manufacturing Industry [Petroleum and Petrochemicals]

0114 Manufacturing Industry [Power and energy]

0115 Manufacturing Industry [Printing & Publishing]

0116 Manufacturing Industry [Rubber]

0117 Manufacturing Industry [Steel]

0118 Manufacturing Industry [Sugar]

0119 Manufacturing Industry [Tea, Coffee]

0120 Manufacturing Industry [Textiles, Handloom, Powerlooms]

0121 Manufacturing Industry [Tobacco]

0122 Manufacturing Industry [Tyre]

0123 Manufacturing Industry [Vanaspati & Edible Oils]

0124 Manufacturing Industry [Others]

0201 Trading [Chain stores]

0202 Trading [Retailers]

0203 Trading [Wholesalers]

0204 Trading [Others]

0301 Commission Agents [General Commission Agents]

0401 Builders [Builders]

0402 Builders [Estate agents]

0403 Builders [Property Developers]

0404 Builders [Others]

0501 Contractors [Civil Contractors]

0502 Contractors [Excise Contractors]

0503 Contractors [Forest Contractors]

0504 Contractors [Mining Contractors]

0505 Contractors [Others]0601 Professionals [Chartered Accountants, Auditors, etc.]

0602 Professionals [Fashion designers]

0603 Professionals [Legal professionals]

0604 Professionals [Medical professionals]

0605 Professionals [Nursing Homes]

0606 Professionals [Specialty hospitals]

0607 Professionals [Others]

0701 Service Sector [Advertisement agencies]

0702 Service Sector [Beauty Parlours]

0703 Service Sector [Consultancy services]

0704 Service Sector [Courier Agencies]

0705 Service Sector [Computer training/educational and coaching institutes]

0706 Service Sector [Forex Dealers]

0707 Service Sector [Hospitality services]

0708 Service Sector [Hotels]

0709 Service Sector [IT. enabled services, BPO service providers]

0710 Service Sector [Security agencies]

0711 Service Sector [Software development agencies]

0712 Service Sector [Transporters]

0713 Service Sector [Travel agents, tour operators]

0714 Service Sector [Others]

0801 Financial Service Sector [Banking Companies]

0802 Financial Service Sector [Chit Funds]

0803 Financial Service Sector [Financial Institutions]

0804 Financial Service Sector [Financial service providers]

0805 Financial Service Sector [Leasing Companies]

0806 Financial Service Sector [Money Lenders]

0807 Financial Service Sector [Non-Banking Financial Companies]

0808 Financial Service Sector [Share Brokers, Sub-brokers, etc.]

0809 Financial Service Sector [Others]

0901 Entertainment Industry [Cable T.V. productions]

0902 Entertainment Industry [Film distribution]

0903 Entertainment Industry [Film laboratories]

0904 Entertainment Industry [Motion Picture Producers]

0905 Entertainment Industry [Television Channels]

0906 Entertainment Industry [Others ]

States

01 ANDAMAN AND NICOBAR ISLANDS

02 ANDHRA PRADESH

03 ARUNACHAL PRADESH

04 ASSAM

05 BIHAR

06 - CHANDIGARH

07 DADRA & NAGAR HAVELI

08 DAMAN & DIU

09 DELHI

10 GOA

11 GUJARAT

12 HARYANA

13 HIMACHAL PRADESH

14 JAMMU & KASHMIR

15 KARNATAKA

16 KERALA

17 LAKHSWADEEP18 MADHYA PRADESH

19 MAHARASHTRA

20 MANIPUR

21 MEGHALAYA

22 MIZORAM

23 NAGALAND

24 ORISSA

25 PONDICHERRY

26 PUNJAB

27 RAJASTHAN

28 SIKKIM

29 TAMILNADU

30 TRIPURA

31 UTTAR PRADESH

32 WEST BENGAL

33 CHHATISHGARH

34 UTTARANCHAL

35 JHARKHAND

99 State outside India

Holding Status- Nature of Company

1 Holding Company

2 Subsidiary Company

3 Both

4 Neither

Business Organization

Amalgamating

Amalgamated

Demerged

Resulting

Unit of Measurement

101 gms

102 kilograms

103 litre

104 kilolitre

105 metre

106 kilometre

107 numbers

108 quintal

109 ton

110 pound

111 milligrams

112 carat

113 numbers (1000s)

114 kwatt

115 mwatt

116 inch

117 feet

118 sqft

119 acre

120 cubicft121 sqmetre

122 cubicmetre

999 residual

To know more or residual codes (click here)

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