6/29/2017 ITReturnsGuideforeFilingofIncomeTaxReturn(ITR)Online

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StepByStepGuidetoEfileITReturnsinOnline

ITReturnsGuideforeFilingofIncomeTaxReturn(ITR)Online

Aspersection139(1)oftheIncomeTaxAct,1961inthecountry,individualswhosetotalincomeduringthepreviousyearexceedsthemaximumamount
notchargeabletotax,shouldfiletheirincometaxreturns(ITR).

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PageContents

1.Whoshouldefileincometaxreturns?
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6/29/2017 ITReturnsGuideforeFilingofIncomeTaxReturn(ITR)Online
2.TypesofeFiling
3.ChecklistforeFilingITReturns
4.HowdoIfileeReturns?
5.StepstofollowtofileIncomeTaxReturns
6.StepstofileITR1Online
7.Thingstowatchoutforwhileefiling
8.FrequentlyAskedQuestions:efilingIncomeTaxReturns
9.NewsAboutEFilingTaxReturn

Theprocessofelectronicallyfilingincometaxreturnsisknownasefiling.Youcaneitherseekprofessionalhelporfileyourreturnsyourselffromthe
comfortofyourhomebyregisteringontheincometaxdepartmentwebsiteorotherwebsites.Theduedateforfilingtaxreturns(physicaloronline),is
July31st.

Whoshouldefileincometaxreturns?
Onlinefilingoftaxreturnsiseasyandcanbedonebymostassessees.

AssesseewithatotalincomeofRs.5Lakhsandabove.
Individual/HUFresidentwithassetslocatedoutsideIndia.
Anassesseerequiredtofurnishareportofauditspecifiedundersections10(23C)(IV),10(23C)(v),10(23C)(VI),10(23C)(via),10A,12A(1)(b),
44AB,80IA,80IB,80IC,80ID,80JJAA,80LA,92Eor115JBoftheAct.
AssesseerequiredtogiveanoticeunderSection11(2)(a)totheassessingofficer.
Afirm(whichdoesnotcomeundertheprovisionsofsection44AB),AOP,BOI,ArtificialJuridicalPerson,CooperativeSocietyandLocal
Authority(ITR5).
AnassesseerequiredtofurnishreturnsU/S139(4B)(ITR7).
AresidentwhohassigningauthorityinanyaccountlocatedoutsideIndia.
Apersonwhoclaimsreliefundersections90or90Aordeductionsundersection91.
Allcompanies.

TypesofeFiling:
UseDigitalSignatureCertificate(DSC)toefile.ItismandatorytofileITformsusingDigitalSignatureCertificate(DSC)byachartered
accountant.
IfyouefilewithoutDSC,ITRVformisgenerated,whichshouldthenbeprinted,signedandsubmittedtoCPC,Bangalorebyordinarypostor
speedpostwithin120daysfromthedateofefiling.
YoucanfileefileITreturnsthroughanEreturnIntermediary(ERI)withorwithoutDSC.

ChecklistforeFilingITReturns
Thereareafewprerequisitestofilingyourtaxreturnssmoothlyandeffectively.Majorpointshavebeenhighlightedbelow.

Howtochoosetherightformtofileyourtaxeselectronically
Itcanbeconfusingdecidingwhichformtosubmitwhenfilingyourtaxreturnsonline.ThedifferentcategoriesofIncomeTaxReturn(ITR)forms
andwhotheyaremeantforaretabulatedbelow.
ITR1(SAHAJ) Individualswithincomefromsalaryandinterest
ITR2 IndividualsandHinduUndividedFamilies(HUF)nothavingincomefrombusinessorprofession
ITR3 Individuals/HUFsbeingpartnersinfirmsandnotcarryingoutbusinessorprofessionunderanyproprietorship
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6/29/2017 ITReturnsGuideforeFilingofIncomeTaxReturn(ITR)Online

ITR4 IndividualsandHUFshavingincomefromaproprietarybusinessorprofession
ITR4S
Individuals/HUFhavingincomefrompresumptivebusiness
(SUGAM)
ITR5 Firms,AOPs,BOIsandLLP
ITR6 Companiesotherthancompaniesclaimingexemptionundersection11
Personsincludingcompaniesrequiredtofurnishreturnundersection139(4A)orsection139(4B)orsection139(4C)orsection
ITR7
139(4D)

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CheckyourtaxcreditForm26ASvs.Form16

YoushouldcheckForm26ASbeforefilingyourreturns.ItshowstheamountoftaxdeductedfromyoursalaryanddepositedwiththeIT
departmentbyyouremployer.YoushouldensurethatthetaxdeductedfromyourincomeasperyourForm16matcheswiththefiguresinForm
26AS.Ifyoufileyourreturnswithoutclarityonerrors,youwillgetanoticefromtheITdepartment.

Claim80G,savingscertificatesandotherdeductions

Youcanclaimextradeductionsifyouforgottoclaimthem.Similarly,youcanalsoclaimdeductionsundersection80Gondonationsmadeto
charitableinstitutions.

IntereststatementInterestonsavingsaccountsandfixeddeposits

AdeductionforuptoRs.10,000isallowedoninterestearnedonsavingsaccounts.However,interestearnedonbankdeposits,ifany,formsapartof
yourtaxableincomeandistaxableatapplicableslabrates.

Inadditiontotheabove,havethefollowingathand.

Lastyear'staxreturns
Bankstatements
TDS(TaxDeductedatSource)certificates
ProfitandLoss(P&L)AccountStatement,BalanceSheetandAuditReports,ifapplicable

Ensureyoursystemisequippedwiththebelow.

JavaRuntimeEnvironmentVersion7Update6orabove

How To File Tax Returns Online

ListofRequiredDocumentsforefilingoftaxreturns

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6/29/2017 ITReturnsGuideforeFilingofIncomeTaxReturn(ITR)Online
Itisalwaysgoodtostayastepahead,especiallywhenitcomestotaxfiling.Thechecklistprovidedbelowwillhelpyoutogetstartedwiththeefilingof
taxreturns.

Generaldetails:

Bankaccountdetails
PANNumber

Reportingsalaryincome:

RentreceiptsforclaimingHRA
Form16
Payslips

ReportingHousePropertyincome:

Addressofthehouseproperty
DetailsofthecoownersincludingtheirshareinthementionedpropertyandPANdetails
Certificateforhomeloaninterest
Datewhentheconstructionwascompleted,incaseunderconstructionpropertywaspurchased
Nameofthetenantandtherentalincome,incasethepropertyisrented

Reportingcapitalgains:

Stocktradingstatementisrequiredalongwithpurchasedetailsiftherearecapitalgainsfromsellingtheshares
Incaseahouseorpropertyissold,youmustsoughtsaleprice,purchaseprice,detailsofregistrationandcapitalgaindetails
Detailsofmutualfundstatement,saleandpurchaseofequityfunds,debtfunds,ELSSandSIPs

Reportingotherincome:

Theincomefrominterestisreported.Incaseofinterestaccumulatedinsavingsaccount,bankaccountstatementsarerequired
Interestincomefromtaxsavingbondsandcorporatebondsmustbereported
Theincomedetailsearnedfrompostofficedepositmustbereported

GoodCreditScore=FastLoan/CreditCardapproval.CheckforFREE

IncomeTaxSlabRates
IncomeTaxSlabratesForFinancialYear20172018AndAssessmentYear20182019
(AsDeclaredintheNewBudget):

ForIndividualsandHUF(AgeLessthan60years):

IncomeTaxSlab Taxrate
UptoRs.2,50,000 NIL
AboveRs.2,50,000anduptoRs.5,00,000 5%
AboveRs.5,00,000anduptoRs.10,00,000 20%
AboveRs.10,00,000 30%

*10%oftaxwillbeimposedassurchargeincasethetotalincomeisbetweenRs.50LakhsandRs.1crore.

*15%oftaxwillbeimposedassurchargeincasethetotalincomeisaboveRs.1crore.

ForIndividualsandHUF(Age60yearsandmore,butlessthan80years):

IncomeTaxSlab Taxrate
UptoRs.3,00,000 NIL
AboveRs.3,00,000anduptoRs.5,00,000 5%
AboveRs.5,00,000anduptoRs.10,00,000 20%
AboveRs.10,00,000 30%

*10%oftaxwillbeimposedassurchargeincasethetotalincomeisbetweenRs.50LakhsandRs.1crore.

*15%oftaxwillbeimposedassurchargeincasethetotalincomeisaboveRs.1crore.

ForSuperSeniorCitizens(age80yearsandmore):

IncomeTaxSlab Taxrate
UptoRs.5,00,000 NIL
AboveRs.5,00,000anduptoRs.10,00,000 20%

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6/29/2017 ITReturnsGuideforeFilingofIncomeTaxReturn(ITR)Online
AboveRs.10,00,000 30%

*10%oftaxwillbeimposedassurchargeincasethetotalincomeisbetweenRs.50LakhsandRs.1crore.

*15%oftaxwillbeimposedassurchargeincasethetotalincomeisaboveRs.1crore.

IncomeTaxSlabRatesforYear20162017:

ForIndividualsandHUF(AgeLessthan60years):

IncomeTaxSlab TaxRate
UptoRs.2,50,000 NIL
AboveRs.2,50,000anduptoRs.5,00,000 10%
AboveRs.5,00,000anduptoRs.10,00,000 20%
AboveRs.10,00,000 30%

*12%surchargeisimposedincasethetotalincomeisaboveRs.1crore.

ForSeniorCitizens(Age60yearsandmore,butlessthan80years):

IncomeTaxSlab TaxRate
UptoRs.3,00,000 NIL
AboveRs.3,00,000anduptoRs.5,00,000 10%
AboveRs.5,00,000anduptoRs.10,00,000 20%
AboveRs.10,00,000 30%

*12%surchargeisimposedincasethetotalincomeisaboveRs.1crore.

ForSuperSeniorCitizens(Age80yearsandmore):

IncomeTaxSlab TaxRate
UptoRs.5,00,000 NIL
AboveRs.5,00,000anduptoRs.10,00,000 20%
AboveRs.10,00,000 30%

*12%surchargeisimposedincasethetotalincomeisaboveRs.1crore.

IncomeTaxReturnDueDate:

Generally,theduedateforfilingIncomeTaxReturn(ITR)forHinduUndividedFamily(HUF)/Individuals/AOP(AssociationofPersons)/BOI(Bodyof
Individuals)is31stJulyofthenextFinancialYear.ForexampleTheITRduedateforFinancialYear201617wouldbe31stJuly,2017.

Recommended:

IncomeTax IncomeTaxReturn IncomeTaxRefund IncomeTaxRefundStatus Form16

CheckHereforIncomeTaxSlabRates

HowdoIfileeReturns?
FillincometaxreturnsofflineanduploadXMLontheofficialwebsite:IncomeTaxIndiaeFiling.gov.in
PrepareandsubmitITR1online.

StepstofollowtofileIncomeTaxReturns:
Filingyourincometaxreturnsonlinedoesn'thavetobeacomplicatedprocess.Simplyfollowthebelowsteps.

First,logontoIncomeTaxIndiaeFiling.gov.inAndregisteronthewebsite.

YourPermanentAccountNumber(PAN)isyouruserID.
ViewyourtaxcreditstatementorForm26AS.TheTDSasperyourForm16musttallywiththefiguresinForm26AS.
Clickontheincometaxreturnformsandchoosethefinancialyear.
DownloadtheITRformapplicabletoyou.Ifyou'reexemptincomeexceedsRs.5,000,theappropriateformwillbeITR2(Iftheapplicableform
isITR1orITR4S,youcancompletetheprocessontheportalitself,byusingthe'QuickefileITR'linkthishasbeenexplainedbelow).
Openexcelutility(thedownloadedreturnpreparationsoftware)andfillouttheformbyenteringalldetailsusingyourForm16.
Checkthetaxpayableamountbyclickingthe'calculatetax'tab.
Paytax(ifapplicable)andfillinthechallandetails.
Confirmallthedataprovidedintheworksheetbyclickingthe'validate'tab.
GenerateanXMLfileandsaveitonyourdesktop.
Goto'uploadreturn'ontheportal'spanelanduploadthesavedXMLfile.
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6/29/2017 ITReturnsGuideforeFilingofIncomeTaxReturn(ITR)Online
Apopupwillbedisplayedaskingyoutodigitallysignthefile.Incaseyouhaveobtainedadigitalsignature,select'Yes'.Ifyouhavenotgot
digitalsignature,choose'No'.
Theacknowledgmentform,ITRVerification(ITRV)willbegeneratedwhichcanbedownloadedbyyou.
TakeaprintoutoftheformITRVandsignitinblueink
SendtheformbyordinaryorspeedposttotheIncomeTaxDepartmentCPC,PostBagNo.1,ElectronicCityPostOffice,Bangalore,560100,
Karnatakawithin120daysoffilingyourreturnsonline.

StepstofileITR1&ITR4SOnline:
PrepareandSubmitITR1/ITR4S(Sugam)Online

YouhavetheoptiontosubmitITR1/ITR4SformsbyuploadingXMLorbyonlinesubmission

LogintoeFilingapplication
Goto'eFile''PrepareandSubmitITROnline'
SelecttheIncomeTaxReturnFormITR1/ITR4Sandtheassessmentyear.
FillinthedetailsandthenclickthesubmitbuttonandchooseDSC(DigitalSignatureCertificate)(ifavailable)ClickonSubmit.
Aftersubmission,acknowledgementdetailisdisplayed.
Clickonthelinktovieworgenerateaprintoutofacknowledgement/ITRVform.

TouseDSC,youhavetoregisteritintheefilingapplication.YoucandosobylogginginontheefilingwebsiteoftheITDepartmentandupdatingthe
ProfileSettingssection.UnderProfileSettings,youhavetoselectRegisterDigitalSignatureCertificateanddownloadtheITDeFilingDSCManagement
Utility.YoucanusethisutilitytogeneratetheDSCfile.

Privateportals:

Youcouldalsomakeuseofseveralwebsitestofileyourincometaxreturnsonline.Theportalstypicallychargefees(Rs.250to300)dependingonthe
kindsofservicetheyoffer.

Thingstowatchoutforwhileefiling:
Ifthesamemobilenumberoremailaddressisusedformorethanfourtaxpayers,youcannotfilereturnsonthewebsite,unlesstherequiredchange
isdone.Forinstance,insomecases,morethanfivereturnsmaybefiledyours,wife,mother,motherinlawandtheHinduundividedfamily
(HUF)ofwhichyouarethekarta,theexecutorofawill.
IfyournamementionedinyourbankdocumentsorofficialstatementsisevenslightlydifferentfromtheonegiveninthePANcard,theportalwill
consideryouadifferentindividual.Incertaininstances,someindividualsgivetheirfather'snameastheir'middle'nameintheirPANcard,butdo
notuseitfortheirbankaccounts.
IfanonresidentIndianhastofileincometaxreturns,hewillneedbothanIndianumberandaforeignnumber.

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FrequentlyAskedQuestions:efilingIncomeTaxReturns

1.IfileITRonlinewithoutanaccountontheIncomeTaxefilingportal?

No,YouhavetocreateanaccountontheportaltofileyourITRonline.Itisaneasyprocess'youhavetoregisteryourselfbyprovidingdetailssuch
asusertype(individual,HUF,companies,charteredaccountants,agenciesortaxdeductors),yourPAN,firstandmiddlenamesandsurname,dateof
birth,andfillintheregistrationform.Ifyoualreadyhaveanaccountbuthaveforgottenpassword,youcangenerateitthroughthe'ForgotPassword'
option.

2.HowmanydaysdoIhavetoverifytheIncomeTaxReturnIfiledonline?

YouhavetoeithersendtheITRVtoCPC,Bangalore,orverifyitonlinethroughelectronicverificationcodeorAadhaarlinkedonetimepassword,
within120daysofefilingthereturn.

3.CanIeverifymyITRinsteadofsendingahardcopytoCPC,Bengaluru?

Yes.TheIncomeTaxDepartmentnowallowsyoutoeverifyITRthroughanelectronicverificationcode(EVC)orthroughaonetimepasswordby
linkingyourPANandAadhaar.

4.CanIefilemyreturnbeforeallmytaxpaymentsaredone?

YoucanonlyfileyourIncomeTaxReturn'onlineorthroughanagency'afterallyourtaxpaymentsfortheyeararedone.Thedeadlineforfiling
ITRisJuly31oftheyearaftertheendofagivenassessmentyear'thatis,youget4monthstofileITR.Thishelpsyouputyouraccountsinorder
andmakesurealltaxrelatedpaymentsaresorted.

5.IsitmandatoryformetodotheefilingorcanIdeputeittosomeone?

YoucanseekthehelpofcharteredaccountantsandagenciesdedicatedtoITRfiling.ItiswisernottoallowanyonetohaveyourPANandpassword
inordertopreventanykindoffraud.

6.HowtocheckthestatusofIncomeTaxRefund?

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6/29/2017 ITReturnsGuideforeFilingofIncomeTaxReturn(ITR)Online
YoucancheckthestatusofIncomeTaxRefundonlineonthewebsiteoftheIncomeTaxDepartmentofIndia.Youcantracktherefundstatusafter
10days(fromthedatetherefundwassenttoyou).Tocheckthestatus,youhavetoenteryourPermanentAccountNumber(PAN)andchoosethe
correctAssessmentYear.

7.WhatisHRA?

HRAstandsforHouseRentAllowance.Itreferstotheamountofrentyoupayforyourplaceofresidence.WhilefilingIncomeTax,youcanclaim
HRA.YoucanenjoytaxexemptiononHRAuptoacertainlimit.IfyouareunabletosubmitrentreceiptstoclaimHRAexemption,thenyoucan
claimitwhilefilingyourITR.IfyouhavepaidmorethanRs.1,00,000onrentinafinancialyear,thenyouwillhavetoprovidethePANofyour
houseowner/landlord.HRAexemptionwillbetheminimumofthefollowing:

ActualHRAreceived.
ActualRentPaid.
RentPaid10%ofBasicSalary.
50%(metro)/40%(nonmetro)ofBasicSalary.

ToclaimHRAexemptioninITR1(IfyouremployerhasnotcalculatedHRA),youhavetodeducttheHRAexemptionamountfromyourGross
SalaryandentertheresultinthesectionIncomefromSalary/Pension.

8.WhatisITRV?

IfyoueFileITRwithoutusingDSCoryoueFilethrougheReturnIntermediary,thenITRVformwillbegeneratedforyou.Youhavetoprintthis
form,signitandsubmitittoCPC,BangaloreusingSpeedPostorOrdinaryPostonlywithin120days,startingfromtheeFilingdate.

NewsAboutEFilingTaxReturn
EfilingtheITRiseasierthanyouthought
TheIncomeTax(IT)DepartmenthasmadeiteasyforthetaxpayerstocarryoutefilingofIncomeTaxReturn(ITR)throughtheirwebsite.Ifyou
areataxpayerlookingforefilingITR,thisisagreatalternativecomparedtothemethodofsharingyourdetailswithathirdpartysuchasChartered
Accountants.NowyoucanvisittheITDepartmentswebsitetocompleteyourefilingwithfewsimplesteps.Thewebsiteprovidescompletestep
bystepguidanceinfillingintheformsandsubmittingit.TheITDepartmenthaskepttheentireprocesssimpleforthecommonmantounderstand.
TheITRformsarecurrentlyavailableontheITDepartmentswebsite./p>

18thApril2017

IncomeTaxDepartmentlaunchesefilingfortwoITRs
TheIncomeTaxDepartmentrecentlylaunchedservicestosupporttheefilingoftwotypesofITR.ITR1(Sahaj)andITR4(Sugam)areenabled
forefilingonthewebsitehttps://incometaxindiaefiling.gov.in.TheITDepartmenthasalsonotifiedthattheotherfiveITRswillbesoonenabled
forefiling.IndividualswhoarerequiredtocompletetheirefilingcanvisittheITDepartmentswebsitetoaccesstheservices.Theefilingservice
willbeavailableuntilthe31stofJuly.ThisinitiativewillhelptheITDepartmentinprocessingmoreITRsefficiently.

7thApril2017

ITdepartmentoffersefilingfacilitythroughtheirwebsite
TheIncomeTax(IT)Departmenthastakenaseriesofstepstoboostefilingforvarioustypesofincomegroup.TheITDepartmentisworking
towardsvarioussolutionsthatwillhelpthetaxpayersinmakingeasytaxpayments.ThisinitiativewillaidtheITDepartmentinreducingtax
evasionandalsothenonfilingoftax.TheindividualscantakeadvantageoftheefilingservicefromtheITDepartmentswebsite.Currently,theIT
Departmentacceptsefilingforcertainincomegroup,theyarealsoworkingtowardsaddingmoresegmentssoon.

5thApril2017

AadhaarwillbemademandatoryforfilingITreturnandapplicationofPANcard
ThegovernmenthasproposedtomakeAadhaarmandatoryforfilingIncomeTax(IT)returnandfortheapplicationofPANcard.Thisinitiativewill
helpthegovernmentinissuingPANcardonrealtimebasisbasedontheAadhaar'seKYCfacility.Currently,theinitiativeisattheinitialstageof

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6/29/2017 ITReturnsGuideforeFilingofIncomeTaxReturn(ITR)Online
considerationthathasbeenproposedthroughanamendmentoftheFinanceBill.Soon,theindividualwhowishtofiletheirincometaxreturnor
applyforaPANcardwillrequirethefurnishingofAadhaardetails.

27thMarch,2017

IncomeTaxDepartment:IncreaseinefilingofITRs
TheIncomeTaxDepartmenthasissuedmorerefundsthisduetoincreaseintheefilingofIncomeTaxReturns(ITRs).Theservicesprovidedby
CentralBoardofDirectTaxes(CBDT)ishelpingmoreindividualsfiletheirITR.Thefastandefficientonlineservicescoupledwithelectronic
notificationsareencouragingtaxpayerstogainmostoutoftheirmoneyandinvestmentbyfilingtheITRs.TheIncomeTaxDepartment'swebsite
providedguidancetofirsttimetaxpayersfortheregistrationprocess.Ataxpayercanalsoutilizethewebsitetofollowstepbystepmethodstofile
theirITR.ThesimpleandfastmethodisencouragingmoreindividualstocomeforwardinfilingtheirITRs.

15thFebruary,2017

ITDepartmentwonSilverAwardforefilingofincometaxreturnsproject
Afterthe200708NationalAwardsforeGovernance,theIncomeTaxDepartmenthasonceagainwontheSilverAwardfortheefilingofincome
taxreturnsprojectthisyear(201617).TheSilverAwardwasconferredtotheITdepartmentundertheincrementalinnovationsinexistingprojects
category.ElectronicVerificationCode,EfilingVault,NonFilersMonitoring,andESahyogaresomeofthesignificantinnovationsintroducedby
theITdepartmentintheefilingofincometaxreturnsproject.EVCenablestaxpayerstoelectronicallyverifyincometaxreturnsusingthirdparty
verification.Morethan1.1croreincometaxreturnshavebeenelectronicallyverifiedviaEVC.EfilingVaultprotectstaxpayersaccountsagainst
unauthorizedaccess.TheNonfilersMonitoringsystemandESahyogenabletaxpayerstoeasilyresolveanyqueriesregardingtheirincometax
complianceatanytime.

16thJanuary2017

Now,VerifyYourITRThroughATM
OnceIncomeTaxReturnsarefiled,youneedtoverifyit.Thegovernmentrecentlyintroducedeverificationeitherthroughanelectronicverification
code(EVC),netbankingorAadhaarinordertoalloweveryonetoverifytheirITReasilyandconvenientlyinsteadofhavingtosendtheITRcopyto
CentralisedProcessingCentre,Bengaluru.

Now,youcanalsoverifyyourITRthroughATMs.ATMsofStateBankofIndiaandAxisBankalreadyallowyoutoverifyyourITRbyinputting
yourdebitcardinthemachine.TheoptionsafterenteringthePINwillinclude'PINforIncomeTaxFiling'.Ifyouselectthisoption,anEVCwillbe
generatedandsenttoyouremailandregisteredmobilenumber.

3rdAugust2016

ITDepartmentUrgesTaxpayersToEFileITRsByJuly31
ThedeadlineforfilingofIncomeTaxReturns(ITR)forthepreviousfinancialyear'201516'isjust13daysaway.TheIncomeTaxDepartment
hasurgedindividualstouseitsefilingportalforquickandeasyITRfilingprocess.

TofileanITRonline,oneneedstologintoincometaxindiaefiling.gov.inwithyourPANdetails.ThesitealsohasafreeITRpreparationsoftware
thatwillhelpyouthroughtheprocesswithoutanyhassles.

ITRcannowbeverifiedonlineitself,withouthavingtosendacopyoftheITRVbyposttoCentralisedProcessingCentre(CPC),Bengaluru.You
canverifyitusingAadhaar,netbankingoranEVC.

19thJuly2016

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6/29/2017 ITReturnsGuideforeFilingofIncomeTaxReturn(ITR)Online

FilingeITRviaATMbasedValidationSystem
AnATMbasedvalidationfacilityhasbeenintroducedbytheIncomeTaxDepartmentinanattempttoaddtothepaperlessmodeoffilingincome
taxreturns.AccordingtoaseniorITofficial,taxpayerswillbeabletogenerateanEVCorElectronicVerificationCodebyprevalidatingthebank's
ATMmachinewheretheyhaveanaccount.OnlyStateBankofIndiahasactivatedthisfacilityfornow,restofthebanksareexpectedtofollowsuit
soon.

Thenewfacilityhasbeenmadeavailableontheincometaxdepartment'sefilingwebsite.Taxpayerscanusethesystembygeneratingaonetime
password,usingAadhaarnumber.ValidationofeITRhasbeeninitiatedsothattaxpayersdonothavetosendtheITRVbypostforprocessingat
theCPC(CentralProcessingCentre)inBangalore.

TaxpayersthosewhocanfileITR1aretheoneswithincomegeneratingfromsalaries,housepropertyandothersourcesinclusiveofinterest.

TaxpayersthosewhocanfileITR2areindividualsandHUFsnothavinganyincomefromanyprofession,businessoranyforeignassets.

6thJune2016

AprilWitnesses68%riseineFilingofITReturns
Thefirstmonthofthecurrentfiscalyearsawamassiveriseof68.5percentintheefilingofincometaxreturns.ThemonthofAprilsawover8.32
lakhtaxpayersfiletheirtaxreturnsviaelectronicmeans,ascomparedto4.94lakhduringthesamemonthforthefinancialyear20152016.
However,atotalof4.33croreincometaxreturnswerefiledelectronicallyoverthelastfiscalyear,butunlikethatyeartheCBDThas
operationalisedallninetypesofincometaxreturnsthataretobefiledbyvarioustypesofassessesforthecurrentyear.Theefilingprocesshas
becomeincreasinglysimplerandeasierovertimewiththeCBDTrecordingover5.25croreregisteredusersasonApril30th2016.DeloitteHaskins
andSellsLLPpartnerDivyaBawejastatedthattheincometaxdepartmenthasmadeaseriouseffortinsimplifyingefilingproceduresinorderto
helpthecommonmanfilereturnsmoreeasily.

19thMay2016

TAX

SalesTax
IncomeFromOtherSources
CapitalGainsTax
DirectTax
DirectVsIndirectTaxes
AdvanceTax
CentralSalesTax(CST)
ExciseDuty
CustomDuty
SelfAssessmentTax
CapitalGainsTaxonShares
7thPayCommission
ClaimingInterestonHomeLoan&HRA

GoodsandServiceTax(GST)

GSTCalculator
GSTRates
GSTRegistration
GSTBill

IncomeTax

IncomeTaxSlab
IncomeTaxSlab201617
IncomeTaxForPensioners
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