MANDATORY OF E-FILING OF INCOME TAX RETURN
E-filing of income tax return is mandatory in the following cases:-
- Any individual and HUF who is having income more than 5 lakh.
- Any individual and HUF who wants to claim the refund of income tax.
- Any individual and HUF who is covered in Tax Audit under section 44AB irrespective of any income.
- All firms irrespective of their income.
- All companies irrespective of their income.
- All political parties irrespective of their income.
- All religious or charitable trust irrespective of their income.
- Scientific research association.
- News agency.
Note:- Other than above, any person can file his income tax return electronically irrespective his income.
Returns filed electronically can be filed with digital signature or without digital signature as the case may be. Following are few cases where the digital signature is must or no:-
Cases Where the Digital Signature is Mandatory
- Individual or HUF who are subject to tax audit under section 44AB.
- Firms who are subject to tax audit under section 44AB.
- Company in all cases.
- politically party in all cases.
Cases Where the Digital Signature is Not Mandatory:-
- Individual and HUF not covered under tax audit.
- A firm who is not subject to the tax audit under section 44AB.
- Individual and HUF if income is more than 5 lakh.
- Individual except individual of 80 years or more and HUF who has claimed the refund.
- Person other than political party who file electronically his return in Form No. ITR-7 in all cases.
E-filing of Income Tax Return:- The procedure for e-filing of income tax return is very simple as explained below:-
- Log on to incometaxindia.gov.n and click on icon e-file Income Tax Return or to />
- Select the appropriate form.
- Download Return Preparation Software for selected return form. You can also use the readymade softwares for e-filing of income tax return which are available in the market.
- Fill your return offline.
- After fill up of return form completely, generate XML file.
- Register and create a user id/password at />
- After registration you have to log in.
- Select the Assessment Year under the heading ‘Submit Return’ on the left hand side of the screen.
- The screen will display your PAN and assessment year selected by you.
- If the Assessment Year and PAN number is correct then select the Income Tax Form from drop down list.
- If you want to digitally sign the file click the option ‘Yes’ and then select the type of Digital Certificate.
- If you do not want to digitally sign then select the option ‘No’.
- Browse to select XML file and click ‘Upload’ button.
- On successful upload a compressed zip file shall appear which contains acknowledgement details in ‘PDF’ form. This file is password protected. The password is PAN of the assessee followed by the date of birthin small letters. For example, your PAN is AAAGS4141K and your date of birth is 15.07.1950. In this case your password shall be aaags4 to open the acknowledgement. This acknowledgement is known as ITR-V.
- Now, click on ‘Print’ to obtain printout of acknowledgement/ITR-V.
- In case return is digitally signed then keep the copy of ITR-V with you. All process for submission of income tax return is complete or your return is filed by all means.
- In case your return is not digitally signed then take the print out of ITR-V and sign the original copy and send it to ‘Income Tax Department – CPC, Post Bag no. 1, Electronic City Post Office, Banguluru – 560100, Karnataka’ by ordinary post or speed post within 120 days after the filing of income tax return.
IMPORTANT POINTS IN RESPECT OF ‘ITR-V’.
Following points must be kept in mind by an assessee before sending the hard copy of ‘ITR-V’ to Income Tax Department:-
- To print ITR-V, Laser Printer or Ink Jet Printer must be used.
- The ITR-V must be printed in black ink only. No other ink should not be used.
- Dot Matrix should not be used to take print out of ITR-V.
- Print out should be clear and not light printed.
- Do not print any water marks on ITR-V. The only water mark is permissible is that of “Income Tax Department” which is automatically printed on each ITR-V.
- The copy which is sent to CPC, must be original print out of ITR-V. The original copy should be signed by the assessee.
- The photocopy of signed ITR-V, can not be accepted by the income tax department.
- Signature or any hand written text should not be written on the bar code.
- Bar Code and numbers below bar code should be clearly visible.
- Only A4 size whiter paper should be used to take print out of ITR-V.
- Typing on back of ITR-V can not be allowed by the income tax department.
- Perforated paper should be avoided.
- No staples should be used on ITR-V acknowledgement.
- In case you are submitting original and revised return, do no print the ITR-V of original return and revised return on same paper i.e. back to back. Separate papers should be used for print out of ITR-V for revised and original return.
- No annexures, covering letter, pre-stamped envelope etc. should be sent along with ITR-V.
- The ITR-V must be sent to Income Tax Department – CPC, Post Bag no. 1, Electronic City Post Office, Banguluru – 560100, Karnataka’ by ordinary post or speed post within 120 days after the filing of income tax return. ITR-V should not be sent to any other office of Income Tax Department except above mentioned address.
BENEFITS OF e – FILING OF INCOME TAX RETURN
- e-filing is very easy fast and secure method of filing of income tax return.
- The processing of e-filing of return is very fast.
- Tax payers get their refund very quickly.
- Some value added services like tracking of refunds, viewing tax credit status, e-mail and SMS regarding status of processing and refunds are available to the tax payers.
Note: With effect from 01.07.2017, every person has to mention his AADHAR number in the income tax return. Further, every person who has been allotted PAN as on 01.04.2017, he must intimate the AADHAR number to the tax authorities other the PAN will treated as invalid.