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BOMBAY CHARTERED ACCOUNTANTS SOCIETY

E-Filing of Income Tax Returns

24/04/2015Compiled by CA Avinash Rawani1

Requirements by the Department to be truthful and prompt in meeting all legal obligations; to pay taxes in time; to obtain PAN and quote it in all documents and correspondence to obtain TAN for every unit and quote it in all documents and

correspondence to quote correct tax payment/deduction particulars in tax returns to

verify credits in tax credit statements to file complete & correct returns, within the due dates and in

appropriate tax jurisdictions to quote correctly Bank Account Number, IFSC Code and other Bank

details in the returns of income to intimate change of address to the tax authorities concerned to intimate any change in PAN particulars to designated agency &

and to quote PAN of all deductees in the TDS Statements


Record Numbers of Returns Filed

Income Tax Department has received a record number of 3.42 crores e-Returns in

the F.Y. 2014-15..

From Assessment Year 2014-15, ALL

PARTNERSHIP FIRMS to compulsorily e-File;

Department is planning to develop

alternative solution for sending ITR-V then

the process of sending ITR-V to Bangalore

will be discontinued.


Returns Filed Summary


Services available for various users in e-Filing

7 24/04/2015Compiled by CA Avinash Rawani

Who are required to file fromAY 2014-15 (e-filing made mandatory)

Universities/College/Institutions Section 139(4D)

Trade Unions, Infra Funds, Hospitals, Medical Institutions etc Section 139(4C);

Research Associations, News Agencies, Association, Funds, Institutions;

Political Parties Section 139(4B); Digital signature made mandatory

Charitable Organisation under Section 139(4A);


Who are required to e-file for AY 2015-16

Persons claiming relief under Section 90, 90A or 91 of the Act;

Trust having Income exceeding Rs 5Lakhs or whose Audit Report is filed;

All Corporate Assessees & Partnership Firms;

All Tax Audit cases u/s 44AB, 92E or 115JB of the IT Act, 1961;

Individual whose total income is more than Rs. 5 Lakhs;


Who are required to e-file for AY 2015-16

Persons claiming Refund;

Persons claiming relief under Section 90, 90A or 91 of the Act;

Persons who are signatories to the Bank Account located out of India

Persons having Source of Income/Assets located out of India;

Signatories located out of India


WHICH ITR SHOULD BE SELECTED


DUE DATES

Individuals, Firms, Partners not liable for audit

Companies, Assessee covered under Audit, Working partners of the firms covered for audit and Individuals covered for audit

Assessee required to submit Report under Section 92E


PROVISIONS OF THE IT ACT

• To be filed before the end of one year from the relevant AY or completion of assessment whichever is earlier;

• Loss cannot be carried forward

Section 139(4) Belated Return

• To be filed before the end of one year from the relevant AY or completion of assessment whichever is earlier;

• Belated Return cannot be revised

Section 139(5) Revised Return


PROVISIONS OF THE IT ACT

• Return treated as defective if• All annexures/ columns in each head of income,

computation of GTI and TI are not filled• SA Tax u/s 140A has not been paid on or before

the date of furnishing return• Return signed by an unauthorised person; etc.

Section 139(9)

Defective Return

• Opportunity by AO to rectify the defect within 15 days

• Beyond 15 days, AO may condone the delayRemedies


DEFECTIVE RETURNS UNDER E-FILING

ITR 4S – has been filled but

Code mentioned

under Nature of Business is 601 or 602 or

603 or 604 which are incorrect codes.

All ITR forms – No Income details or tax computation

has been provided in

ITR but details regarding taxes paid have been

filled and filed

ITR 4 & 5 – In audit

information 44AB flag is Y

but Part A P&L and or

Part A BS not filled


CONSEQUENCES OF LATE FILINGPenalty of Rs. 5000/- under

Section 271F;

Penal Interest @ 1% per month under Section 234A;

Losses cannot be carried forward;

Deductions under Section 10A, 10B, 80-IA, 80-IB etc. not allowed.


Certain Changes in e-Filing for AY 2015-16

If there is claim forRefund, online filing mademandatory;

IFSC Code and CBSAccount Numberrequired to be quoted forRefund.

EVC Code – System ofdiscontinuing sending ITR-V to Bengaluru.



“electronic verificationcode” means a codegenerated for the purposeof electronic verificationof the person furnishingthe return of income asper the data structure andstandards specified byPrincipal Director Generalof Income-tax (Systems)or Director General ofIncome-tax (Systems).’


WHICH ITR TO BE FILED FOR AY 2015-16 (INDIVIDUALS/HUF)

• Salary Income• House Property Income (1 House No

B/f Loss)• Other Income (except horse race &

lottery)

ITR-1 (with or without digital

signature)

• Salary Income• House Property Income;• Capital Gains;• Other Income• Assets or SA located out of India,

Claimed relief or FI >5000


signature)



Changes in ITR-1 & ITR4-S Introduction of furnishing details of

Aadhar Card in the Return of Income;Details of All Bank Accounts with Bank

Name, IFSC Code, Name of the Joint Holder along with closing bank balance to be given

Notified vide Notification No. 41/2015



Changes in ITR-2 Introduction of furnishing details of Adhar Card in the Return of

Income; Details of Foreign Travel made during the year (For Resident and

Non Resident) including Passport No, Issue Date, Name of theCountry, No. of Time Travelled;

Details of utilization of amount deposited in capital gain accountscheme for years preceding to last two assessment years.Particulars asked include year of utilization, amount utilized,amount unutilized lying idle in capital gain account scheme till thedate of filing of return of income.

Details of All Bank Accounts with Bank Name, IFSC Code, Nameof the Joint Holder along with closing bank balance to be given



Changes in ITR-2 In case of LTCG & STCG not chargeable to tax to

Non-resident on account of DTAA benefit, It isrequired to furnish Country name, Article of DTAA,TRC obtained or not;

For Non-resident, Income from other sources, Ifany income chargeable to tax at special rateprovided in DTAA, It is now required to providedetails of Name of Country, Relevant article ofDTAA, Rate of Tax, Whether TRC obtained or not?,Corresponding rate of tax under income tax Act;



Changes in ITR-2 In schedule FA- Foreign assets disclosure, Following details

added. Foreign Bank accounts details: It is now further require to furnish

Account number, account opening date, Interest/income accruedfrom such account, If any along with details of head of income andschedule under which such income is shown, if offered to tax inIndia.

In similar manner, details of income from Financial interest in anyentity outside India along with details of income offered to tax inITR-2 from such income.

Similar disclosure requirement is also required for Immovableproperty outside India, capital asset held outside India, trust heldoutside India -



• Salary Income;• House Property;• Capital Gains;• Share of Profit from Firm/AOP etc• Other Income


signature)

• Salary Income;• House Property;• Capital Gains;• Profits & Gains of Business• Other Income

ITR-4 (Mandatory digital signature in

case of TA u/s 44AB)


WHICH ITR TO BE FILED FOR AY 2015-16

• To be filed by Partnership Firm, LLP, AOP & Local Authority, irrespective of Income

ITR-5 (Mandatory digital signature in

case of TA u/s 44AB)

•To be filed by Companies

ITR-6 (To be filed only digital with

signature)


Amendments for ITR-7 (For Trust)

Person required to file ITR u/s 139(4A), 139(4B), 139(4C),

139(4D)

ITR-7

Income exceeding `5 Lacs

Compulsory E-Filing with or without Digital Signature

ITR-7 (Other than above)

Can File in paper Form


IMPORTANT UPDATES


IMPORTANT UPDATES FOR FOREIGN COMPANIES


New Look of Website


Changes to be made in Settings

Amendment in Profile Settings required

PAN of the Signing

Authority is mandatory

Up-dation of Contact Details


Updation of Contact Details


PIN MANDATORY


Introduction of various categories for registration

Individual & HUF, Other than I & HUF, CA, ITD Employees, Helpdesk


NEW FEATURES OF WEBSITE

Reports mandated by CA for e-filing

Tax Audit Reports

Form 3CEB (Transfer Pricing Report for

International as well as Domestic Transactions)

Form 29B (Report u/s 115JB)

Any other form as may be specified (Specified Form

10B for Trust)

Authorised by CA


Steps for Uploading

Utility of Audit Forms to be prepared by CA

and uploaded;

Digital Signature to be affixed;

Form forwarded to the Assessee for

acceptance;

Assessee to Login on website, go to Work List and accept/reject

the Form;

On Approval no further action is

required and audit report is submitted;

On Rejection, TP can file the Form again.


Process for ITR Filing for Audit Cases

Register as CA user

Assessee to add Tax Auditor & Consultant

CA to upload AR xml with Digital Signature

Assessee to upload ITR & confirm TAR


Check List of the Documents & Software required

Java Runtime Version 7 update 6 or above

Annual Accounts with relevant reports

Other documents


How to Place Request for Intimation Not received


How to submit Rectification Return


Status of Rectification


Key in the details asked for


COMMON REASONS FOR DELAY INDISPOSAL OF ONLINE RECTIFICATIONS

24/04/2015Compiled by CA Avinash Rawani

After filing online rectification application withchange in bank details, assessee needs to send theResponse sheet giving particulars of bank accountalong with cancelled cheque within stipulated timefor the processing of the rectification tocommence.

For change of bank details in case of refundfailure, there is NO NEED to file rectificationapplication. Only response sheet giving particularsof bank account with cancelled cheque needs tobe sent to CPC.

43

In case of Change of Bank Details


In case of Refund Re-issue


Refund Re-issue


Need to Specify exact data correction

24/04/201547 Compiled by CA Avinash Rawani

COMMON REASONS FOR DELAY INDISPOSAL OF ONLINE RECTIFICATIONS


Rectification requests will be auto-rejected when an earlier rectificationrequest is under process. In such caseno specific reason is given exceptstating that an earlier rectificationrequest is already underconsideration.

48

Common Errors- Report of CPC

Symptom and issueProbable reason and Resolution


Salary incomeshown athigher figurethan entered

In Salary time higher figure isreported under Gross salarywhich should be excludingExempt income (such astransport allowance etc).Taxpayer may have mentionedTransport allowance in ExemptIncome and may have deductedthe same to arrive at a lower netfigure in the final calculation.However, the Exempt income isto be mentioned only forreporting purposes and shouldnot be used in any calculation.

49

Computation of Salary details





Loss underHouseProperty dueto Interest paidon loans is notallowed

In the House propertySchedule the Interest paidvalue is not entered. Insteadonly the loss figure ismentioned in the final total.The totals are re-calculatedwhile processing the returnfrom the basic values provided.If the break up values are notprovided then the total will becalculated as zero.

51




Loss underHouseProperty dueto Interest paidon loans is notallowed

The other possibility is thateven if the House PropertySchedule was correctly filled,the taxpayer has not claimedthe loss in Schedule CYLA.Therefore, even if loss iscorrectly shown in Sch HP, theadjustment of this loss is notautomatic. It has to be enteredin the first row against SalaryIncome as shown to indicatethat this loss is adjusted againstsalary income.

52

Claim of Loss from House Property





Tax payment isnot allowed

BSR code, Challan numberand date of deposit mayhave been incorrect sinceany mismatch may lead torejection of tax payment.Date of deposit of challan;

Compare the details inForm 26AS before filingthe e-Return.

54





BSR code, Challan numberand date of deposit mayhave been incorrect sinceany mismatch may lead torejection of tax payment.Date of deposit of challancannot be beyond or afterdate of filing of return.

55





Taxpayer should NOTreport tax payments madeby Deductors as given inForm 16 or Form 16A astheir own payment underSchedule IT. This is meantONLY to enter taxpayments DIRECTLYmade by taxpayer himself..

56

Prepaid Taxes through Challans





TDS credit isnot allowed

Taxpayer should ensure thatthe TAN number is valid and asper the Form 16A issued byDeductor.

PAN number of Deductorshould NOT be mentioned inplace of TAN.

In many cases Deductors mayhave given TDS certificate withcertain TAN but submitted TDSreturn to Department underdifferentTAN.

58




TDS credit isnot allowed

This should be verified bycross-checking against the26AS statement for thetaxpayer which is availablethrough NSDL or at thee-filing website.

Any error by Deductorshould be immediatelypointed out andcorrection ensured

59




Chapter VI Adeductionspecially 80Cdeduction isnot allowed

While filling in Deductions inChapter VI–A, ensure to fill up thebreakup showing all individualSection-wise deductions such as80 C etc, and then mention theTotal Deduction claimed.

At the time of processing, it is notclear under what section is thededuction claimed if details arenot given. Since each deductionhas different limits and eligibility, itis not possible to allow deductiononly from the total.

60




Deductionunder Chapter80G or 80IAetc is notallowed

Details u/s 80G in Sch 80G(where the Schedule isavailable in the return- ITR 4, 5and 6) along with correct totalsmay not have been entered,before claiming the total inChapterVI-A.

Similarly, other schedules suchas 80IA/IB etc must also befilled in where relevantschedules are in the ITR, beforeclaiming Ded. in ChapterVI-A.

61

Claim for Chapter VI- A deductions





Tax Rate appliedby CPC is not asper rates forFemale Taxpayersor Senior citizensor for firms ordomesticcompany.MAT is applied

Entered Gender asMale or entereddate of birthincorrectly but inPAN it may bedifferent.. CheckPAN

63





For assessee filingreturn ITR 5, Status(such as CooperativeSociety, Firm, etc) inthe Gen InformationPortion may not haveselected correctly;

64

Select Gender Correctly






Incorrect statusselection can lead totaxation at higherrate or disallowanceon specific deductionlike 80P, etc. availableonly to co-op. society

66





Taxpayers filing ITR 6, thecorrect selection whileopting for item under GenInformation relating to ‘If aDomestic Company’ mustbe made. Domesticcompanies MUST NOTselect “N” as it applies forforeign company and ratesof taxes are higher.

67

Wrong Selection of Status will also Impact






Schedule MAT MUST befilled by all taxpayers filingITR 6 irrespective ofwhether the book profitcalculations result inapplication of provisions ofMAT.

Taxpayer may not havecalculated MAT.

69

MAT details compulsory for ITR-6





Income fromBusiness is notcorrectlycomputed

There are many reasons forvariation in Income FromBusiness:While enteringTotals (for ex Total Dutiesand Taxes etc), breakup isnot given.

Value entered in Sl no 42(Depreciation) (whereBooks of Accounts aremaintained) should matchthe value in Sch BP:

71

Figures to match and co-relate


Taxes and duties to be shown seperately






Sl no 11 (Depreciationdebited to P&L Account)Profit Before Tax (and notProfit After Tax) should beentered in item 1 of Sch BP;

Depreciation allowableunder IT Act u/s 32(1) (ii)must be as per Sch DEP.

74

Depreciation problem






When Schedule Profit and Lossis filled with a claim fordepreciation but depreciationamount is either not addedback at item A1 1 in ScheduleBP or details of depreciation inplant and machinery and otherassets are not filled by theassessee in Schedule DPM,DOA and Schedule DEP, thismay lead to disallowance ofdepreciation.

76

Depreciation problem






Schedule DPM, DOA andDEP should NOT be leftblank if Depreciation is beingclaimed.

Entering total value ofDepreciation in Sl A12 inSchedule BP WITHOUTentering DPM, DOA, DEPwill lead to disallowance ofDepreciation.

78

Schedule DEP – Claim for Depreciation must


Schedules Figures to match






Where block ceases to exist,enter correct value inCap.Gains / Loss u/s 50.Under NO OTHERCIRCUMSTANCE shoulditem 16 be filled. Negativevalue, if entered in Sl 16,implies that block ceased toexist and then noDepreciation will be allowedfor that block.

81

Capital Gains figures to be filled correctly


Capital Gains under Section 50






Where P&L account is filled and includes Deemed income u/s 44AD, 44AE 44AF etc, ensure that relevant figures in A4 and A33 in Sch BP are correctly filled

84

Presentation of Presumptive Profits






Total of Deemed Income(IF NON ZERO) underSections 44AD , 44AE,44AF, 44B, 44BB, 44BBA,44BBB, 44D, 44DA,Chapter XII-G and FirstSch of IT Act as per Sl no33 of Sch BP) should notbe lower than Sl no 4 ofSch BP.

86





In case nature of businessdoes not includeTea/Coffee/Rubber, the netprofit or loss from businessor profession after applyingRule 7A,7B, 7C in A37should be entered as thesame value as arrived in Slno 36 of Sch BP

87

Nature of Business plays Imp role





Income fromBusinessComputedHigher than theactual income

Net Profit before tax asreported in the Profit andLoss Account to match withthe Computation;

Any additional claim ordisallowances to beseparately disclosed.

89





Where Schedule OI is filledwith details of disallowancesor amounts which are to beadded back to income dueto the provisions like 36, 37,40, 40A, 43B, assessee mustfill in the details in ScheduleBP in arriving at the incomefrom Business andProfession.

90

Disallowance to be stated seperately






At the time ofprocessing thesedisallowances are takenfrom Schedule OI andapplied to relevant itemsin Sch BP. This will resultin increase of Incomeunder Business due tothese disallowances.

92

Losses brought forward from previous years has not been allowed


Before claiming adjustments in Sch BFLA,ensure that Schedule CFL is not left empty.

The correct breakup of the losses claimed forsetoff must be filled in Sch CFL which alonewill be considered for Schedule BFLA. Directentries in Schedule BFLA without any entry inSchedule CFL will not be entertained, thusleading to demand due to disallowance ofclaim for adjustment of brought forward loss.

93

Losses Claim Presentation


Losses brought forward from previous years has not been allowed


Unabsorbed depreciation loss MUST be includedin CFL against appropriate year or in case itrelates to prior to AY 2002-03 period then itMUST be entered in the row relating to AY 2002-03. ONLY if the unabsorbed Depreciation isentered in CFL, then it will be allowed in SchBFLA calculation.

In Sch BFLA, enter all adjustments correctly. Do not leave blank as system will not allow

adjustments of brought forward loss unlessclaimed in Sch BFLA.

95

Unabsorbed Loss of Earlier Years


Capital Gain is not correctly calculated


Start from full value of consideration in Capital Gainschedule.

DO NOT ENTER ONLY FINAL VALUES. Enter the correct breakup to arrive at STCG and

LTCG values. Do not leave blank any intermediate figures such as

Full Value of Consideration etc.Ensure that the valueentered in Sch CG under LTCG Proviso (optionunder proviso to S.112(1) is exercised) is alsocorrectly entered in Sch SI under LTCG proviso(Section 22).

97

Breakup for Capital Gains Must


Capital Gain is not correctly calculated


All Capital gain tax calculations are as per specialrates given in Schedule SI. In case this is notcorrectly entered then the calculation may differ.In most cases taxpayers have entered capital gainsin CG schedule at 20% tax rate, but in Schedule SIentered in code corresponding to 10% rate bymistake. In such cases tax may be calculated atboth these tax rates.

Verify that correct quarterly breakups for LTCGand STCG are provided in

99

Deemed Capital Gains


CHANGES IN ITRS FROM AY 2014-15 Liability of MAT for Electricity, Insurance and

Banking Companies to be reported; Compulsory furnishing of PAN for Bad debts

claimed in ITR-4; Return modified to introduce Section 92CD for APA; Detailed information of CG reporting in Return; Reporting of detail information for claims u/s 36 &

37; Intra head adjustment of Loss to be provided in

detail; Reporting of Income head at concessional rates

reporting enhanced;


COMPUTED INFORMATIONS


COMPUTED TAX LIABILITY BASED ON INFORMATION SUBMITTED


DIRECT SUBMISSION OPTION


BROWSER SETTINGS


System Configuration: OPERATING SYSTEM -


ENABLING JAVA SCRIPT


JRE 1.7 update 13 and above (32 bit) is required to run applets for Digital Signatures and offline forms to work. You may download this at http://java.com/en/download/manual.jsp

CANNOT READ XML FILE


VARIOUS PENALTIES UNDER IT ACT Section 43. Penalty for damage to computer, computer system, etc.- If any person without permission of the owner or any other person who is in charge of a

computer, computer system or computer network,- accesses or secures access to suchcomputer, computer system or computer network downloads, copies or extracts anydata, computer data base information from such computer, computer system orcomputer network including information or data held or stored in any removable storagemedium, Introduces or causes to be introduced any computer contaminant or computervirus into any computer, computer system or computer network;

damages or causes to be damaged and computer, computer system or computernetwork, data, computer database or any other programmes residing in such computer,computer system or computer network;

disrupts or causes disruption of any computer, computer system or computer network;

denies or causes the denial of access to any person authorised to access any computer,computer system or computer network by any means;

provides any assistance to any person to facilitate access to a computer, computersystem or computer network in contravention of the provisions of this Act, rules orregulations made thereunder;

charges the services availed of by a person to the account of another person bytampering with or manipulating any computer, computer system or compute network heshall be liable to pay damages by way of compensation not exceeding one crore rupees tothe person so affected.


VARIOUS PENALTIES UNDER IT ACT Explanation.-For the purposes of this section.- (i) “computer contaminant”

means any set of computer instructions that are designed – (a) to modify, destroy, record, transmit date or programme residing within a

computer, computer system or computer network; or (b) by any means to usurp the normal operation of the computer, compute

system, or computer network; (ii) “computer database” means a representation of information, knowledge, facts, concepts or instructions in text, image, audio, video that

are being prepared or have been prepare in a formalised manner or have beenproduced by a computer, computer system or computer network and areintended for use in a computer, computer system or computer network;

(iii) “computer virus” means any computer instruction, information, data orprogramme that destroys, damages, degrades adversely affects theperformance of a computer resources or attaches itself to another itself toanother computer resources and operates when a programme, date orinstruction is executed or some other even takes place in that computerresource;

(iv) “damage” means to destroy, alter, delete, add, modify or re-arrange anycomputer resource by any means


VARIOUS PENALTIES UNDER IT ACT Sec 45. Residuary penalty.- Whoever contravenes any rules or regulations made

under this Act, for the contravention of which nopenalty has been separately provided, shall beliable to pay a compensation not exceeding twenty-five thousand rupees to the person affected by suchcontravention or a penalty not exceeding twenty-five thousand rupees.


VARIOUS PENALTIES UNDER IT ACT 66 A Punishment for sending offensive messages through communication service, etc. (

Introduced vide ITAA 2008)

Any person who sends, by means of a computer resource or a communication device,a) any information that is grossly offensive or has menacing character; or

b) any information which he knows to be false, but for the purpose of causingannoyance, inconvenience, danger, obstruction, insult, injury, criminal intimidation,enmity, hatred, or ill will, persistently makes by making use of such computer resourceor a communication device,

c) any electronic mail or electronic mail message for the purpose of causing annoyance orinconvenience or to deceive or to mislead the addressee or recipient about the or igin ofsuch messages (Inserted vide ITAA 2008) shall be punishable with imprisonment for aterm which may extend to two three years and with fine.Explanation: For the purposes of this section, terms "Electronic mail" and "ElectronicMail Message" means a message or information created or transmitted or received on acomputer, computer system, computer resource or communication device includingattachments in text, image, audio, video and any other electronic record, which may betransmitted with the message]


VARIOUS PENALTIES UNDER IT ACT

66C Punishment for identity theft.(Inserted Vide ITA 2008)

Whoever, fraudulently or dishonestly make use of theelectronic signature, password or any other uniqueidentification feature of any other person, shall be punishedwith imprisonment of either description for a term which mayextend to three years and shall also be liable to fine whichmay extend to rupees one lakh.]


VARIOUS PENALTIES UNDER IT ACT

[66D Punishment for cheating bypersonation by using computer resource(Inserted Vide ITA 2008)

Whoever, by means of any communicationdevice or computer resource cheats bypersonation, shall be punished withimprisonment of either description for aterm which may extend to three years andshall also be liable to fine which may extendto one lakh rupees.]


Avoid Last Days…


COMPARITIVE FIGURES (Last Minute Filings)

Year 2012-13 Year 2013-14 Increase

Number of Registered Users

3.06 Crores 3.90 Crores 27.45%

Peak Rate of Returns per day

11.63 Lakhs 16.82 Lakhs 44.62%

Peak Rate of Returns per hour

0.97 Lakhs 1.55 Lakhs 59.79%

Peak Rate of Returns per minute

2303 2901 25.96%

Percentage of Returns received after office hours

34.464 52.572 -

Percentage of Returns filed using Departments utility

34.56% 50% -


Some Useful Tips

Returns generated from private software should not be considered as

blindly accurate and final;

Validation Utilities provided by ITD is more or less control oriented. Final Computation needs to be physically

verified before filing;

Do not try to over-ride the utilities provided to suit the same as per the requirements since these are control

based


Some Useful Tips

Returns are generally prepared by Staff and uploaded, ensure its correctness before uploading;

Ensure sufficient and accurate back up is available for future requirements.. Not to depend much on the system,

better to have one hard copy;

Delete the workings created from time to time to ensure that the latest figures are only available which were

used for the returns filing.


Any Further Help RequiredCall Centre of Income Tax Department available/Helpdesk also available

send e-mail efilinghelpdesk@ incometaxindia.gov.in

Tools for Help Available on the ITD Website


E-AssessmentsNew Utilities Compute Tax

Liability based on the information filled..

Acts as self assessment, if verified

properly;

Days will come in the near future, where we will

have E-assessments;

Reports of un-reconciled transactions in the Form 26AS submissions and Returns details

submitted will only be the source of scrutiny;


Another Cause of Concern``

CPC acts as a preserver

of the Information.

Data given by the Assessee shall be preserved for life time.

It’s a Data Centre of all

the information

collected and information is cent percent

reliable;



ForgivenessApplying computer technology is simply finding the right wrench topound in the correct screw.

A mistake in Tax Returns can be corrected by paying penalties andresult in monetary loss but the non-correction of Mistakes made inRelationship in TIME will ruin your entire LIFE… Correction of Both..earlier the BETTER

A MISTAKE should always be taken as a Mistake and not as MYMistake or HIS Mistake as it leads to difference in the Hearts..Let uscorrect it in TIME


Doubts & QuerriesDoubts & Querries

Any Questions

Thank You

C.A. Avinash V. Rawani 124

THANKS ONCE AGAIN

Compiled by CA Avinash RawaniRawani and Company, Chartered AccountantsB-206, Hinal Heritage, Patel Wadi, S.V.P.Road,Near Chamunda Circle, Borivali West,Mumbai 400092E-mail : [email protected]: www.carawani.com

• The views stated in the material and also discussed are purely of the compiler for the discussions at the Study Circle and should not be used for any legal interpretation. Any decision to be taken by the user of this information is to be taken after studying the requisite provisions of the respective Act and specific applications to particular client. Neither the compiler nor the study circle shall be responsible for the same. f the said information is reproduced or published in the interest of the profession, would humbly request to inform to the Compiler about the same.


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