The process of electronically filing Income tax returns
through the internet is known as e-filing.
It is mandatory for companies and Firms requiring statutory
audit u/s 44AB to submit the Income tax returns electronically
for AY 2007-08 onwards.
E-filing is possible with or without digital signature.
Types of E-Filing
There are three ways to file returns electronically.
Option 1: Use digital signature, in which case no further
action is required.
Option 2: File without digital signature, in which case the duly signed
ITR-V
form is to be submitted to CPC Bengaluru using Ordinary Post or Speed Post within 120 days of transmitting
the data electronically. This completes the Return filing process for non-digitally signed
returns.
Option 3: File through an e-return intermediary who would do
eFiling and also assist the Assessee file the
ITR -V
Form.
Types of E-Filing
E – filing process :
This is explained below with the help of a flow chart.
Change in the procedure of e- filing for 2008-09
Type
Change
For digitally signed returns
No Change
Paper Returns -Two step Procedure
After uploading data -instead of filing paper
return assessee to file verification form called
ITR-V (Combination of Acknowledgement of
e-return and verification
Paper Returns - through e-intermediaries
e-Filing Process – At a glance
Select appropriate type of Return Form .
Download Return Preparation Software for selected Return Form.
Fill your return offline and generate a XML file.
Register and create a user id/password .
Login and click on relevant form on left panel and select
"Submit Return".
Browse to select XML file and click on "Upload"
button .
On successful upload acknowledgement details would be
displayed. Click on "Print" to generate printout of
acknowledgement/ITR-V Form.
Incase the return is digitally signed
, on generation of "Acknowledgement" the Return Filing
process gets completed. Assessee may take a printout of the
Acknowledgement for his record.
Incase the return is not digitally signed
, on successful uploading of e-Return, the ITR-V Form
would be
generated which needs to be printed by the tax payers.
This is
an acknowledgement cum verification form. The tax payer
has to
fill-up the verification part and verify the same. A
duly
verified ITR-V form should be submitted to CPC
Benagaluru using Ordinary Post or Speed Post within 120 days of
transmitting
the data electronically. This completes the Return
filing process for non-digitally signed
Returns.
Related Posts :
Annual Income Tax Return,
e-Filing Returns,
e-Return,
e-TDS Return Correction,
e-TDS Return Status,
eTDS/TCS Returns Tips
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