Remember Important points before e-Filing of TDS Return Quarterly.

Remember Important points before e-Filing of TDS Return Quarterly

Given below are the points one should remember before filing quarterly TDS statement:

• Correct Reporting: Cancellation of TDS statement and deductee row is no longer permissible. Accordingly, it is very important to report correct and valid particulars (TAN of the deductor, Category (Government / Non-Government) of the deductor, PAN of the deductees and other particulars of deduction of tax) in the quarterly TDS statement
• Quote correct and valid lower rate TDS certificate in TDS statement wherever the TDS has been deducted at lower / zero rate on the basis of certificate issued by the Assessing Officer
• Last provisional receipt number to be quoted in regular TDS / TCS statements: While filing new regular (original) TDS statement, it is mandatory to quote the last accepted provisional receipt number of the regular quarterly TDS / TCS statement of any form type
• TDS statement cannot be filed without quoting any valid challan and deductee row
• Late filing fee, being statutory in nature, cannot be waived
• Download PAN Master from TRACES and use the same to file new statement to avoid quoting of incorrect and invalid PAN
• Validate PAN and name of fresh deductees from TRACES before quoting it in TDS statement
• Download TDS certificate (Form16A) from TRACES (http://www.tdscpc.gov.in) bearing unique TDS certificate number and issue to the taxpayers within due date
• File correction statements promptly in case of incomplete and incorrect reporting
• Download the justification report to know the details of TDS defaults, if any, on processing of TDS statement
• Do view your Dashboard regularly to know about your TDS performance
• Government deductors should obtain BIN (Book Identification Number) from their Accounts Officer (AIN holder) in time and quote the same correctly in TDS statement

Source: www.tdsman.com

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No Need to take tension if e-filing of Income Tax Return Password forget.

There are too difficult to remember each and every password on net, because on the net there are huge passwords with huge sites with huge conditions. The conditional passwords required each and every sites i.e. Alphabate only, Numeric Only, some are requireds Alphabates + Numeric or viz. along with Alphabate + Numeric + Special Characters etc. This types dificulty is human with Password.  Therefore, if you have not stored password in writing any where not possible to remember all.

Recently, CBDT has starts new and latest facility Income Tax Returns filing by e-ITR process, thus functionality of Reset Possward at Income Tax Return e-filing site is as under :

Reset Password Options 

Registered user can reset the password using one of the following options: 

1. Answer Secret Question. 

2. Upload Digital Signature Certificate 

3. Using OTP (PINs) 

1. Answer Secret Question 

To Reset Password using the ‘Answer Secret Question’ option, the steps are as below: 

Step 1: In Homepage, Click on "LOGIN HERE" 

Step 2: Click on "FORGOT PASSWORD" link. 

Step 3: User must provide User ID, CAPTCHA and click on CONTINUE button. 

Step 4: Select ‘Answer Secret Question’ from the drop down options available. 

Step 5: Enter the Date of Birth/Incorporation from the Calendar provided (Mandatory) 

Step 6: Select the Secret Question from the drop down options available (Mandatory) 

Step 7: Enter the ‘Secret Answer’ and Click on “VALIDATE”. 

Step 8: On success, the user must enter the New Password and confirm the password. 

Step 9: Click on “SUBMIT” 

Once the password has been changed a success message will be displayed. User can login with new password. 

2. Upload Digital Signature Certificate 

To Reset Password using the ‘Upload Digital Signature Certificate’ option, the steps are as follows:

Step 1: In Homepage, Click on "LOGIN HERE" 

Step 2: Click on "FORGOT PASSWORD" link. 

Step 3: User must provide User ID, CAPTCHA and click on CONTINUE button. 

Step 4: Select ‘Upload Digital Signature Certificate’ from the drop down options available 

Step 5: User can select any one of the two options provided: 

              i. New DSC 

             ii. Registered DSC 

Step 6: User must Upload DSC and click on the “VALIDATE” button. The DSC is validated. 

Step 7: On success, the user must enter the New Password and confirm the password. 

Step 8: Click on “SUBMIT” 

Once the password has been changed a success message will be displayed. User can login with new password. 

3. Using OTP (PINs) 

To Reset Password using the ‘Using OTP (PINs)’ option, the steps are as follows: 

Step 1: In Homepage, Click on "LOGIN HERE" 

Step 2: Click on "FORGOT PASSWORD" link. 

Step 3: User must provide User ID, CAPTCHA and click on CONTINUE button. 

Step 4: Select ‘One Time Password’ from the drop down options available. 

Step 5: The user must select one of the options mentioned below 

            >> Registered Email ID and Mobile Number 

            >> New Email ID and Mobile Number

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e-Filing Return reminder for Assessment Year 2014-15 email by CBDT

Recently, CBDT has been sent an e-mail to those assessees whose Income Tax Return for Assessment Year 2014-15 yet not filed in Income Tax Department by e-filing process.  This reminder is based on data available with e-filing website of Income tax India which filed by assessee in previous year.  By this reminder, department of Income Tax 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, which is as under :

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

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Now Taxpayee Login for e-filing Income Tax Return through Bank Account.

This new utility recently provided by www.incometaxindiaefiling.gov.in, by this facility taxpayee can login through Bank Account instead of Password in case when Taxpayee forgetten login password to sign. 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:

• Corporation Bank-Retail Banking: https://www.corpretail.com/RetailBank
• Corporation Bank-Corporate Banking: https://www.corpbank.biz/CorpBank/
• Union Bank of India: https://www.unionbankonline.co.in/
• Oriental Bank of Commerce: https://www.obconline.co.in/
• City Union Bank Ltd: https://www.onlinecub.net/
• Bank of India: http://www.bankofindia.co.in/english/home.aspx
• Kotak Mahindra Bank: https://www.kotak.com/
• 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

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All about Conso File - FAQs

1. What is a conso file?

It is the consolidated data of the statements processed (regular & correction) for the relevant Financial Year, Quarter and Form Type.

2. Why is a conso file required?

While filing correction for a particular Financial Year, Quarter and Form Type, conso file provides details about all the previous corrections made in the relevant statement. This file gets updated each time a correction is filed for the particular Financial Year, Quarter and Form Type. Hence, each time a correction statement is to be filed for the given combination, a fresh conso file is required.

3. From which year is conso file available on TRACES?

Conso file is available on TRACES from FY 2007-08.

4. What would be the file extension for the consolidated file?

The file extension would be in “.tds” format.

5. How can I download conso file?

Login to TRACES as deductor and submit download request for the conso file under ‘Request for Conso File’ in ‘Statements / Payments’ tab. File will be available under ‘Requested Downloads’ in ‘Downloads’ tab.

6. Is it mandatory to download a conso file while filing correction statement?

Yes. It is mandatory, as it enables accuracy during correction filing.

7. What is the password for opening Conso file?

The password for opening Conso file will be your TAN_Request Number in capital letters.

8. I want to submit request to download the conso file, will system allow me to pass through validation screen without any challan and deductee detail?

Yes, you can download the conso file even if you have zero challan detail and no deductee record for the statement.

9. I have filed a paper return, and want to download the consolidated file for the same on TRACES. How should I proceed?

Conso file will not be available in case of paper return. Refer e–Tutorials for more details.

10. While entering validation details for submitting request to download conso file, I have entered details correctly in Part 1 and Part 2 of the validation screen, yet it shows error as ‘Invalid Details’ in Part 1 or Part 2. What should I do?

Details to be filled in validation screen should be exactly the same as reported in the TDS statement. If you have filed any correction statement, Token Number and other details should be as per the latest correction statement.

11. While entering validation details for submitting request to download conso file, I am getting an error, ‘More than one PAN in the challan’. What should I do?

In such case, CIN of that challan should be entered which has been claimed for at least two, three or more PANs.

12. While entering validation details for submitting request to download conso file, I am getting an error, ‘Invalid Token Number’. How do I rectify the error?

Enter Token Number for latest accepted statement (regular or correction) for the statement for which conso file is being requested.

13. While submitting request to download conso file, I am getting an error message that request has failed. What should I do?

In such cases, request for downloading conso file needs to be resubmitted.

Source: TRACES

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One Mobile Number and e-mail-ID allows for 10 user accounts in e-filing portal - CBDT

CBDT has released a press note on 04th July, 2014 to allows usage of one mobile number and email-id for 10 user accounts in e-filing portal.  The Press Release note is as follows :

UPDATE AND VALIDATE TAXPAYER EMAIL ID AND MOBILE NUMBER FOR THEIR E-FILING ACCOUNT

PRESS RELEASE, DATED 4-7-2014

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 logon 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 → 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.

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Important announcement for Tax payers for updating contact details in e-Filing Portal.

Dear Tax Payers,

Income-Tax Department uses the registered contact details (Mobile number & E-mail ID) for all communications related to e-Filing. It is mandatory that all tax payers must have a valid contact details registered in e-Filing portal. 

It is noticed that many registered users are not having authenticated contact details in e-Filing or may have provided details of other persons for convenience. This prevents the Department from interacting directly with taxpayers on their personal email and Mobile.

Further, it has been observed that in many cases taxpayers are not able to reset their password since the email communication from the Department may be sent to their registered email or Mobile which may be different from the taxpayer’s personal email or mobile. 

Hence, it is requested that all the e-Filing users may immediately update and authenticate their correct contact details so that the communication can be sent to the valid Mobile number and E-mail ID.

The process of updating and authenticating the contact details has been given below:

New User:

Provide the correct Mobile Number and Email ID during the Registration in the e-Filing portal, Activation link would be sent to the registered E-mail ID and a One Time Password (OTP also called PIN) is sent to the registered Mobile Number. User needs to Click on the Link provided in the E-mail and enter the OTP received in the mobile number for Successful activation of the registered user in e-Filing portal.

Registered User:

After the user logs in to the e-filing account, there will be a pop-up requesting the user to update the current Mobile number and E-mail ID. The user should update their personal Mobile number and Email so that the updated contact particulars are registered with the Department or confirm that the Mobile number and email ID already registered is their valid personal contacts.

Upon submitting the details, Department would immediately send OTPs (PIN1 & PIN2) to new mobile number and Email ID. The respective PINs- PIN1 and PIN2 received through Mobile number and E-mail ID should be entered by them in the respective input fields to authenticate that the email ID and mobile are correct. Upon successful validation the Mobile number and email ID would be updated in the taxpayer’s profile and the process would be complete.

The PIN1 and PIN2 would be valid only for the session – so taxpayers are advised not to close the webpage till PINs are entered and validated. In case of any difficulty or delay, the taxpayer can log in again and follow the same process to update the current contact details.

Note: Taxpayers are advised to follow the process mentioned above in the interest of the security of their e-filing account and to directly receive communication from the Department about status of processing and issue of refunds etc. 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. One mobile number or email ID can be used for a maximum of 4 user accounts as the Primary Contact- Mobile Number and Email ID in e-Filing. This is to ensure that family members (not exceeding 4 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 -> My Profile” the taxpayer can select to include the Secondary Contact to also receive emails, alerts etc. Include the emails and SMS from the Income tax Department in the ‘safe list’ or ‘white list’ to prevent the communications from the Department from being blocked or rejected or sent to Spam folder. As a best practice, please update and authenticate the current contact and address details under “Profile Settings -> My Profile” after login to eFiling portal.

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Important facts to note before filing of quarterly TDS statement For Fin. Year 2013-14.

You are the esteemed stakeholder of CPC (TDS). As the due date of filing of quarterly TDS statement for second quarter of FY 2013-14 is approaching fast, you are advised to file TDS statement well before due date (15^th October for Non-Government deductors and 31^st October for Government deductors). You are requested to make note of the following facts before filing the quarterly TDS statement:

• Correct Reporting: Cancellation of TDS statement and deductee row is no longer permissible. Accordingly, it is very important to report correct and valid particulars (TAN of the deductor, Category (Government / Non-Government) of the deductor, PAN of the deductees and other particulars of deduction of tax) in the quarterly TDS statement
• Quote correct and valid lower rate TDS certificate in TDS statement wherever the TDS has been deducted at lower / zero rate on the basis of certificate issued by the Assessing Officer
• Last provisional receipt number to be quoted in regular TDS / TCS statements: While filing new regular (original) TDS statement, it is mandatory to quote the last accepted provisional receipt number of the regular quarterly TDS / TCS statement of any form type
• TDS statement cannot be filed without quoting any valid challan and deductee row
• Late filing fee, being statutory in nature, cannot be waived
• Download PAN Master from TRACES and use the same to file new statement to avoid quoting of incorrect and invalid PAN
• Validate PAN and name of fresh deductees from TRACES before quoting it in TDS statement
• Download TDS certificate (Form16A) from TRACES (http://www.tdscpc.gov.in) bearing unique TDS certificate number and issue to the taxpayers within due date
• File correction statements promptly in case of incomplete and incorrect reporting
• Download the justification report to know the details of TDS defaults, if any, on processing of TDS statement
• Do view your Dashboard regularly to know about your TDS performance
• Government deductors should obtain BIN (Book Identification Number) from their Accounts Officer (AIN holder) in time and quote the same correctly in TDS statement

CPC (TDS) is committed to provide best possible services to you.

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Procedure for filing TDS returns with insufficient deductee PAN.

          As per instructions issued by the Central Board of Direct Taxes (CBDT), it is mandatory for deductors to file TDS/TCS returns with a threshold limit of Permanent Account Number (PAN) of deductees. To facilitate deductors who face problem in filing TDS returns because of insufficiency of PAN of the deductees and also to accommodate the deductees who have intimated their PAN, the Income Tax Department (ITD) has specified the following procedure for filing TDS/TCS returns:

• Deductors can file a return containing deductee records which meets the specified threshold limit of PAN quoting, i.e., a deductor can file a return containing deductee details who have provided valid PAN. It can subsequently file a correction return with details of remaining deductees. E.g. as below:
• Suppose a challan payment of Rs.1,00,000/- has been made for non-salary TDS against 100 deductees each with TDS of Rs.1,000/-. Under the existing procedure the deductor will have to quote at least 85 PAN, failing which his return will be rejected.
• If there are only 50 deductees whose PAN is available and the deductor attempts to file a return with details of 100 deductees with PAN of only 50 deductees, the return will automatically be rejected at present.
• However, if he files a return with challan amount of Rs. 1,00,000/- and with details of 50 deductees with PAN, with deductee total of Rs.50,000/-, the return will be accepted. It means the deductor can furnish the details relating to such deductees whose PANs are available.
• The deductor can later file correction returns with other details of remaining deductees with the same challan details, i.e., the challan amount should be the amount deposited (in this case Rs. 1,00,000/-).
• The return will be accepted so long as the TDS total of incremental deductees is less than or equal to the balance of Rs.50,000/-.

Generation of Text File and Validation of the same 

          The procedure of generation and validation of text file for Correction Statement is similar to that of original return

Submission of Correction Statement
          The CD / floppy containing correction statement should be accompanied with the following documents:

1. Statement Statistics Report generated by FVU. In case of multiple batch correction statement, a separate ‘Statistics Report’ for each kind of batch within the multiple batch correction statement will be generated by the FVU. In such cases, deductor shall submit all ‘Statistics Reports’.
2. Form No. 27A
3. Copy of the provisional receipt of regular return.

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What should you do after filing of Q1 & Q2?

STEPS TO BE TAKEN AFTER FILING OF E-TDS RETURN

Back up of Files
          Deductor should take back-up of all the files generated after successful filing of E TDS return, more importantly back up of *.fvu file ( upload file ). *.fvu is the file which eventually is filed with the ITD through TIN FC. If the tds return is required to be revised at a later date, *.fvu file is required for making the necessary corrections.

Status Verification Of E-Tds Return Furnished To Tin

• This enquiry can be made by going to ‘TAX PAYERS VIEW’ on website of NSDL.
• Enter TAN and Provisional Receipt Number (PRN) of the return for which the status needs to be verified.
• These views are available only for e-TDS/TCS return for F.Y. 2005-06 and onwards.
• You can verify the information without any other authentication. In this case no financial information will be displayed.

Following enquiries can be made at this site.

1. Whether quarterly returns have been uploaded to TIN central system by TIN-FC.
2. Whether quarterly returns have been accepted by TIN central system.
3. Whether challans in returns have been matched with challans uploaded by banks.
4. Number of deductees whose PAN accounts have been booked.
5. Line no. of deductees in returns whose PAN accounts could not be booked.
6. Confirm whether a specific PAN account has been booked.

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Who are File or Non-File of Income Tax Return u/s. 139(1) and u/s. 139(1C) ?

Specified class or classes of persons to be exempted from filing Return of Income [Section 139(1C)]

(1) Under section 139(1), every person has to furnish a return of his income on or before the due date, if his total income exceeds the basic exemption limit.

(2) For reducing the compliance burden of small taxpayers, the Central Government has been empowered to notify the class or classes of persons who will be exempted from the requirement of filing of return of income, subject to satisfying the prescribed conditions.

(3) Every notification issued under section 139(1C) shall, as soon as may be after its issue, be laid before each House of Parliament while it is in session, for a total period of thirty days. If both Houses agree in making any modification in the notification, the notification will thereafter have effect only in such modified form. If both Houses agree that the notification should not be issued, the notification shall thereafter have no effect.

Compulsory filing of return of income [Section 139(1)]

(1) As per section 139(1), it is compulsory for companies and firms to file a return of income or loss for every previous year on or before the due date in the prescribed form.

(2) In case of a person other than a company or a firm, filing of return of income on or before the due date is mandatory, if his total income or the total income of any other person in respect of which he is assessable under this Act during the previous year exceeds the basic exemption limit.

(3) Every resident and ordinarily resident having –
    (i) any asset (including financial interest in any entity) located outside India or
    (ii) signing authority in any account located outside India is required to file a return of income in the prescribed form compulsorily, whether or not he has income chargeable to tax.

(4) All such persons mentioned in (1), (2) & (3) above should, on or before the due date, furnish a return of his income or the income of such other person during the previous year in the prescribed form and verified in the prescribed manner and setting forth such other particulars as may be prescribed.

(5) Further, every person, being an individual or a HUF or an AOP or BOI or an artificial juridical person -
    − whose total income or the total income of any other person in respect of which he is assessable under this Act during the previous year
    − without giving effect to the provisions of Chapter VI-A
    − exceeded the basic exemption limit.
      is required to file a return of his income or income of such other person on or before the due date in the prescribed form and manner and setting forth the prescribed particulars.

For the A.Y.2013-14, the basic exemption limit is ` 2,00,000 for individuals/HUFs/AOPs/BOIs and artificial juridical persons, ` 2,50,000 for resident individuals of the age of 60 years but less than 80 years and ` 5,00,000 for resident individuals of the age of 80 years or more at any time during the previous year. These amounts denote the level of total income, which is arrived at after claiming the admissible deductions under Chapter VI-A. However, the level of total income to be considered for the purpose of filing return of income is the income before claiming the admissible deductions under Chapter VI-A.

(6) ‘Due date’ means -
    (a) 30th September of the assessment year, where the assessee, other than an assessee referred to in clause (aa), is -
        (i) a company,
        (ii) a person (other than a company) whose accounts are required to be audited under the Income-tax Act, 1961 or any other law in force; or
        (iii) a working partner of a firm whose accounts are required to be audited under the Income-tax Act, 1961 or any other law for the time being in force.

    (aa) 30th November of the assessment year, in the case of an assessee who is required to furnish a report referred to in section 92E.

    (b) 31st July of the assessment year, in the case of any other assessee.

Note – Section 92E is not covered within the scope of syllabus of IPCC Paper 4: Taxation. Section 139(1) has been amended to provide a different due date for assessees who have to file a transfer pricing report under section 92E (i.e. assessees who have undertaken international transactions). Therefore, reference has been made to this section i.e. section 92E for explaining the amendment in section 139(1).

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Online e-Filing Income Tax Return Procedure for Asstt. Year 2013-14

Income Tax Department has published the latest Online e-File Income Tax Return Procedure for Asstt. Year 2013-14.  In this new procedure Taxpayee can free download ITR-I to ITR-4S (Excel Base) to upload online XML. The complete latest procedure is as follows:

e-File Income Tax Return Online

Income Tax Return (ITR-1/ITR-4S) is available online. To avail this feature, Assessee should register, LOGIN and GO TO 'e-File' --> 'Prepare and Submit ITR online'. Fill the information and click SUBMIT.

Download Income Tax Return and Upload XML

To file an Income Tax Return electronically, you should download the Income Tax Return (ITR) Utility applicable, fill and generate an XML. This XML should be uploaded in the application post LOGIN.

You can also pre-fill Personal and Tax information, a new feature in this application.

You can import the details of the previous version into the new version of the utility using the "Import Previous Version " facility. Click on the "Import Previous Version" button and select the path where the previous version is available and click OK. The data is uploaded successfully.

Steps to Download ITR

1. On home page, GO TO 'Downloads' section and select applicable Income Tax Return Form of the desired 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 desired Assessment Year.
2. Download the excel utility of the Income Tax Return (ITR).
3. Fill the excel utility and Validate. (Please refer the "Steps to pre-fill in Income Tax Return" as mentioned below)
4. Generate an XML file and save in desired path/destination in your desktop/system.
5. LOGIN to e-Filing application and GO TO --> e-File --> Upload Return.
6. Select the Income Tax Return Form and the Assessment Year.
7. Browse and Select the XML file
8. Upload Digital Signature Certificate, if available and applicable.
9. Click 'SUBMIT'.
10. On successful upload, Acknowledgement details would be displayed. Click the link to view or generate a printout of Acknowledgement/ITR-V Form.

Steps to pre-fill in Income Tax Return

1. LOGIN to e-Filing application and GO TO 'Downloads' --> 'Income Tax Return Forms'
2. Download the excel utility of the selected Income Tax Return.
3. GO TO 'Downloads' --> 'Download Pre-fill XML' and download.
4. Open the excel utility.
5. Click the button 'Import Personal/Tax Details from XML'. An option to BROWSE a file is displayed.
6. Click on 'BROWSE' and select the path where the downloaded Pre-Fill XML file is stored.
7. Click the SUBMIT button
8. The Personal and Tax information is pre-filled in the respective fields of the excel utility (ITR). You can edit the Tax information, if needed.

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e-filing of Income Tax Returns under the New e-Filing Portal

Any individual or organization filing paper returns with the Income-Tax Department can take advantage of this facility. Direct e-Filing is at present available for ITR Forms 1, 2, 3, 4, 4S, 5 and 6.

Electronic filing of Income Tax Returns under the new e-Filing portal

• Download Pre-filled XML File - After Login Feature PAN Details at one place (Name, D.O.B, Status, Gender, Address) - After Login Feature
• Request for Intimation - Earlier there was no option to download if mail not received. (Submit request for resend print of Intimation to ITR/PAN Address/New Address or via Email) - After Login Feature
• For New Users, Resend Activation Link Feature - Helpful if link not received or mail deleted earlier. User Password can be changed now with Digital Signature Verification also.
• Feedback Option for User
• Register as Legal Heir User should register as a Legal Heir to do e-Filing on behalf of the deceased. This is a new feature provided for Individual user.
• Quick e File for ITR-1 (No need to download any utility, No requirement of any software. Just Fill and Submit like an Online Application Form)
• Mobile Services can be availed using the url https://incometaxindiaefiling.gov.in/mobile/.
• Forms to be authorized by CA with Digital Signature and XML to be uploaded in efiling portal. (3CA, 3CB, 3CD, 3CEB, FORM 29B) -
• Tax Professional (CA) is a new user on this portal (https://incometaxindiaefiling.gov.in/). They can e-File Income Tax Forms (other than Income Tax Returns).

Refund Re-issue request
Request for refund re-issue if the Income Tax Return has been processed. If a refund is determined and it fails to reach the taxpayer then a request can be raised.

File Rectification
Rectify e-filed Income Tax Returns online, if required, only after completion of Income Tax Return processing by CPC of the Income Tax department.

e-File Defective Income Tax Return u/s 139(9)
Taxpayer can e-File Income Tax Return against the Defective Notice issued to them u/s 139 (9) for AY 2011-12 and 2012-13.

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Recover Password Procedure for e-filing Income Tax Return.

It is known by everyone that new website has already been launched for e-filing of Income Tax Returns.  In the last financial year 2011-12, only assessee having income 10 Lakh or more than 10 lakh are bounded to submit online return. But not from the financial year 2012-13, the limit of income  has been decreased from 10 lakh to 5 lakh.  It means that Now e-filing of income tax return is mandatory for those persons who have income 5 lakh or more than 5 lakh.   In this way,  Data punching of Assessee data is in the hand of Assessee.

Now, it is a great problem that in a year User id and Password for e-filing of income tax return were generated but now forget at the time of submission of income tax return.   Below are the solutions for recovery  of password:
Answer Secret Question :

In case you have remember answer of hint  question which have been filed by you at the time of registration.

Upload Digital Signature :

It is chargeable to by digital signature.

Enter e-filed Acknowledgement Number and Bank Account Number :

Copy to last online  submitted Income Tax ITR-V is required for getting acknowledgement number along with your bank account number entered in your last income tax return available with income tax department for confirmation.

Toll Free Number :

Toll Free Number to resolve this issue is 1800 4250 0025.

Email Addreess:

If you're not able to reset the password with any of the above options, please send an email to  - validate@incometaxindia.gov.in with the following details.

    Pan
    Pan Holder's Name
    Date of Birth / Date of Incorporation
    Father's Name
    Registered PAN address

Source: www.tdstaxindia.com

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Apply 10 Easy steps to File Your Income Tax Return for quick refund online.

The last date for filing tax return for financial year 2012-13 for individuals is 31 July 2013. Individuals earning above Rs 5 lakh are now required to file their tax returns electronically. Last year this limit was Rs 10 lakh.

Here is a quick 10 steps guide to file your tax return.

Step 1: Create your e-filing account
In order to create an e-filing account, you should visit the Income Tax website https://incometaxindiaefiling.gov.in and click on ‘Register Yourself’ which will prompt you to fill your personal details. Once your e-filing account is created, login to your account with your user ID (ie PAN) and password.

Step 2: Download Form 26AS
Click on the ‘View Form 26AS (Tax Credit)’ link displayed under the Quick Link menu on the left hand side of the screen to generate Form 26AS. Form 26AS is a consolidated tax statement issued to a tax payer which summarizes the amount paid against each PAN number. It summarizes the TDS, Advance tax, Self assessment tax paid in your name. The password to open your Form 26AS is your date of birth in ddmmyyyy format.

Step 3: Download the income tax return form
Click on the ‘Download ITR’ link which is also displayed under the Quick Link menu on the left hand side of the screen. Thereafter download the income tax return form. ITR 1 should be downloaded by individuals earning salary income / pension; or individuals having one house property income; or individuals having income from other sources (excluding lottery income and income from race horses). However, in case of an individual having income from more than one house property, capital gains or is an ordinary resident having assets abroad or claiming tax treaty benefit, then ITR-2 should be downloaded. After downloading the income tax return form, a zip file will be saved on your computer.

Step 4: Fill the details in the Tax return form
Extract the excel form utility from the downloaded zip file and enable the macros in the Excel form. Carefully follow the instructions and fill the following details:

• Mention the basic details which include your name, PAN, complete address, date of birth, e-mail ID, mobile number, whether the return is original or revised, and residential status.
• Fill the details of income earned and deductions claimed under Chapter VI-A. You can refer to your Form 16 and Form 26AS. However, you will also be required to report any other income or investment eligible for deduction which was not reported to your employer.
• Enter the details of tax deducted by the employer and other deductors and self-assessment / advance tax paid, if any.
• Enter your bank details, which include your bank account number, preferred mode of receiving any refund amount (ie by cheque or direct deposit), type of bank account and IFSC code.

Step 5: Validate the details
Click on the ‘Validate’ button provided on all the sheets. This ensures that all the details have been captured in the return. In the case you omit anything; the sheet will automatically prompt you to fill in the missing details.

Step 6: Calculate your tax liability
Click on ‘Calculate Tax’ after you have filled all the details. In case the return form shows any tax payable, then you should deposit the amount and enter the challan details in the return form.

Step 7: Generate the XML file
Once all taxes have been paid, click on the ‘Generate XML’ tab and save the xml generated file on your computer.

Step 8: Submit the income tax return
You should go to your e-filing account on the income tax website and click on ‘Upload Return’. Fill the ITR Form, Name, Assessment Year. Thereafter upload the XML file and click on ‘Submit’. After this an ITR-V will be generated and sent to your e-mail ID mentioned in the tax return. ITR-V is an acknowledgement-cum-verification form.

Step 9: Send the signed ITR-V to the Income Tax Department
You should take a print of ITR-V and sign it in blue ink. Therafter you should send it by ordinary post or speed post to ‘Income Tax Department – CPC, Post Bag No – 1, Electronic City Post Office, Bengaluru – 560100. The signed ITR-V should be sent within 120 days of uploading the return.

Step 10: Check the ITR-V receipt status
On receipt of the signed ITR-V, the Income Tax Department will send an e-mail acknowledging the receipt of ITR-V to the e-mail ID mentioned in the tax return. You will also receive an SMS on your mobile number acknowledging the receipt of tax return.

Source: www.firstpost.com By Vineet Agarwal

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Latest Online e-File Income Tax Return Procedure for Asstt. Year 2013-14

Income Tax Department has published the latest Online e-File Income Tax Return Procedure for Asstt. Year 2013-14.  In this new procedure Taxpayee can free download ITR-I to ITR-4S (Excel Base) to upload online XML. The complete latest procedure is as follows:

e-File Income Tax Return Online

Income Tax Return (ITR-1/ITR-4S) is available online. To avail this feature, Assessee should register, LOGIN and GO TO 'e-File' --> 'Prepare and Submit ITR online'. Fill the information and click SUBMIT.

Download Income Tax Return and Upload XML

To file an Income Tax Return electronically, you should download the Income Tax Return (ITR) Utility applicable, fill and generate an XML. This XML should be uploaded in the application post LOGIN.

You can also pre-fill Personal and Tax information, a new feature in this application.

You can import the details of the previous version into the new version of the utility using the "Import Previous Version " facility. Click on the "Import Previous Version" button and select the path where the previous version is available and click OK. The data is uploaded successfully.

Steps to Download ITR

1. On home page, GO TO 'Downloads' section and select applicable Income Tax Return Form of the desired 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 desired Assessment Year.
2. Download the excel utility of the Income Tax Return (ITR).
3. Fill the excel utility and Validate. (Please refer the "Steps to pre-fill in Income Tax Return" as mentioned below)
4. Generate an XML file and save in desired path/destination in your desktop/system.
5. LOGIN to e-Filing application and GO TO --> e-File --> Upload Return.
6. Select the Income Tax Return Form and the Assessment Year.
7. Browse and Select the XML file
8. Upload Digital Signature Certificate, if available and applicable.
9. Click 'SUBMIT'.
10. On successful upload, Acknowledgement details would be displayed. Click the link to view or generate a printout of Acknowledgement/ITR-V Form.

Steps to pre-fill in Income Tax Return

1. LOGIN to e-Filing application and GO TO 'Downloads' --> 'Income Tax Return Forms'
2. Download the excel utility of the selected Income Tax Return.
3. GO TO 'Downloads' --> 'Download Pre-fill XML' and download.
4. Open the excel utility.
5. Click the button 'Import Personal/Tax Details from XML'. An option to BROWSE a file is displayed.
6. Click on 'BROWSE' and select the path where the downloaded Pre-Fill XML file is stored.
7. Click the SUBMIT button
8. The Personal and Tax information is pre-filled in the respective fields of the excel utility (ITR). You can edit the Tax information, if needed.

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How to File Income Tax Return Online by e-Filing Procedure?

It is well known fact that tax payers are now required to file their Income-tax Return for the Financial Year 2012-13 relevant to the Assessment Year 2013-14. These Income-tax Returns in most cases have to be filed by 31st July, 2013.  All Taxpayee carefully read the new ammended ITR forms and applicable ITR form select to submit Annual Income Tax Return.   The most important point is that taxpayee who have PAN card may submit Annual Income Tax Return on or before 31st July, 2013.  In this regard  I want to share some important point to filing e-return with Income Tax Department.  But on the contrary most of Taxpayee not watch or read the post carefully. So due to this problem I will try at my level best to clarify & escape from Problem of online Income Tax Return Filing for Assessment year 2013-14.

Some are very easy task for layman even you don’t required any software. However you need to know about scrolling of computer mouse. There are lots of benefits to file income tax return online. No need to stand in long queues at the income tax department. No fear of lost any document, one can print and download whenever you wants after log-in your account.

Filing Income Tax Return:

1. Select appropriate type of Return Form
2. Download Return Preparation Software for selected Return Form.
3. Fill your return offline and generate a XML file.
4. Go to Income Tax Department website.
5. Register and create a user id/password
6. Login and click on relevant form on left panel and select “Submit Return”
7. Browse to select XML file and click on “Upload” button
   
8. On successful upload acknowledgment details would be displayed. Click on “Print” to generate printout of acknowledgment/ITR-V Form.
9. In case the return is digitally signed, on generation of “Acknowledgment” the Return Filing process gets completed. You may take a printout of the Acknowledgment for your record.
10. In case 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 acknowledgment cum verification form. The tax payer has to fill-up the verification part and verify the same.
11. Update: Now you have to send ITR-V to the “Income Tax Department , CPC, Post Box No – 1, Electronic City Post Office, Bangalore – 560100, Karnataka”. They’ll send the acknowledgment receipt at your email address.
12. For any assistance in filing the paper copy of the return please contact by comment form given below.

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TDS/TCS/ITR Annual Return e-Filing Easy Steps for Asstt. Year 2013-14

Taxpayee wants easy and time save procedure to file annual return of TDS, TDS or ITR.  In this regard we would like to share some easy steps to e-file annual return for assessment year 2013-14. This job is completed within 10-15 minutes. E-filing of Annual Return taxpayee are well know about its process, but a few steps are very important to e-filing of Annual Return of TDS/TCS/ITR Return.

STEP 1

Go to the new website of  income tax i.e. https://incometaxindiaefiling.gov.in, register yourself (if taxpayee are not registered, not avail this facility) by PAN number and other details in order to set your login and password.

STEP 2

Once you are done with registration, log out and log in again with your PAN number as user ID and the new password you have set earlier. Click on e-filing A.Y. 2013-14 on the left side and download the e-filing form for INDIVIDUAL, HUF (HUF stands for Hindu undivided family)

STEP 3

The form comes in a ZIP file. Save it to your desktop and extract the Excel file from it to a new folder. Open the excel file and enable macros. Mind you, you have to enable macros in order to complete the process.

STEP 4

Fill in details like Name, Address, City, State, Pin Code in the sheet for INCOME DETAILS; fill in your PAN number wherever required and then fill in details of your income, investments and tax paid as provided to you in the Form 16 as per the instructions on the sheet. Then click on the VALIDATE button to check. If the details are correct. It will show the sheet is ok. (That is if no errors are found).

STEP 5

The next sheet of the file is TDS. Fill in the details for No 23 only if you have income only from salary. If you have income other than salary, fill in details for No 24 also. Fill in details of TAN number, name of company, address, city, state, pin code as given in form 16.

STEP 6

Fill in details of income charged under salaries, deductions from Chapter VI-A, tax payable and tax deducted. All these information is found on your Form 16. Click on VALIDATE button to check for correctness.

STEP 7

Next sheet is taxes paid and verification. Fill in details of name, father’s name, place, date and PAN number under the VERIFICATION section shown in RED. Click validate once again. If all the three sheets are shown OK on validation, you are ready to generate an XML file of the details.

STEP 8

Click on Generate XML and it will ask you to save the file. Once saved, go back to the website and log in (if you are logged out) with your user name and password. On the left side, click on submit return with 2010-11 as assessment year. Upload your generated XML to the site. Your e-filing is done.

STEP 9

It sends you a copy of acknowledgment to your email ID and also allows you to download the acknowledgment by clicking on blue link. The acknowledgment again comes in a ZIP file. Extract the file, take a printout of the PDF file and sign it manually.

STEP 10

Send a signed Acknowledgment to Income Tax Department address shown at the bottom of the PDF file by ORDINARY POST only. You will get a confirmation from IT department within one week. If it’s delayed, you can check out with CPC, Bangalore at 080-43456700 between 9:30 AM to 6 PM between Monday to Friday.

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Important Steps to Upload Your Annual Income Tax Return in XML(s) Form ?

To file a Return electronically, you should prepare the Income Tax Return in the utility certified with Income Tax Department. A zip file containing the XML(s) should be uploaded with DSC either on e-Filing application OR through web-service. 

Steps to upload Bulk Income Tax Return through e-Filing application

1. Prepare Income Tax Return XML's in the utility certified by Income Tax Department.
2. ZIP The XML's into a ZIP file.
3. LOGIN to the e-Filing application and GO TO e-File --> 'Upload Return'.
4. Browse to select the ZIP file.
5. Upload the Digital Signature Certificate.
6. Click on the 'SUBMIT' button.
7. On successful upload, a Token Number is generated.

 Steps to upload Bulk Income Tax Return through Webservice

1. Prepare Income Tax Return XML's in the utility certified by Income Tax Department.
2. ZIP the XML's.
3. Establish connectivity with e-Filing application through Webservice.
4. Provide the ZIP file along with Digital Signature Certificate.
5. On successful upload, a Token Number is generated.

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e-Filing of Return is mandatory for Income above 5 Lacs.

A senior Finance Ministry officially said on Last Tuesday from Asstt. Year 2013-14 e-filing of Income Tax Return is mandatory to taxpayer whose annual taxable income above Rs. 500000/-.  Now in current year i.e. Asstt. Year 2012-13 e-filing is is mandatory to those taxpayee whose income more than 10 lakhs.  Besides, the Finance Ministry is also making provisions for e-filing of Wealth Tax returns.

“Income tax returns for the group above Rs 5 lakh, all such returns will be e-filed. This is a move towards using technology so that the interface between Assessing Officer and assessee is minimized,” Revenue Secretary Sumit Bose said at a Ficci event here.

The government had last year introduced the system of e-filing of Income tax returns for assessees with annual income of Rs 10 lakh and above.

Section 14 of the Wealth-tax Act provides for furnishing of return of net wealth as on the valuation date in the prescribed form.

At present, certain documents and reports are required to be furnished along with the return of net wealth under the provisions of Wealth-tax Act read with the provisions of Wealth-tax Rules.

Sections 139C and 139D of the I-T Act contain provisions for facilitating filing of return of income in electronic form by certain class of income-tax assessees.

“In order to facilitate electronic filing of annexure- less return of net wealth, it is proposed to insert new sections 14A and 14B in the Wealth-tax Act on similar lines… The amendments will take effect from June 1, 2013,” said the Memorandum to the Finance Bill 2013.

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