July 31 is the last date for filing income tax returns for individuals, Hindu Undivided Families, and other non-corporate assessees. Taxpayers have started preparing themselves for the yearly ritual of poring over their documents and making hurried calls to their chartered accountants . Though e-filing of returns is not compulsory for individual taxpayers, it has picked up in a big way because of the convenience it offers.
e-Filing A.Y. 2008-09
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All you need to do is to log on to the official website http:// www.incometaxindiaefiling .gov.in or www.incometaxindiaefiling .gov.in and register with your PAN, which will act as your user ID. Next, you need to identify the return form (in excel format) applicable to you and download it. A salaried assessee with no other income (except interest from bank deposits) has to fill the form ITR 1. If he has also earned other incomes, ITR 2 will be applicable.
The Form-16 issued by the employer will be the main guide to filling the returns form. Once you are done with filling the form, you need to validate all the information by clicking on the validate key and proceed to generate an XML file, which will have to be uploaded on to the site by clicking on the 'submit returns' icon. If you have obtained a digital signature (DS) certificate, you need to upload it along with the XML file.
Once the website displays the acknowledgement details, your task can be considered complete. You can preserve a printout of the acknowledgement slip for your records. However, in case you have submitted the returns without a DS, the ITR 5 form will be generated , which will have to be filled and submitted to your local income tax office within 15 days of e-filing your return. In case you are unable to so, your returns is rendered invalid. ITR-V has to be signed and submitted in duplicate.
The IT Department will retain a copy and hand over the other duly stamped copy to you. This copy will serve as proof that you have submitted ITR 5 within the stipulated time. You are not required to attach any documents like the Form-16 or TDS certificates along with ITR 5.
A digital signature (DS) required to validate electronic documents can be obtained for a fee from a certification agency authorised by the government to issue them. An individual assessee is required to obtain Class II/Class III digital signature certificates, which are issued after the submission of relevant identity and address proofs.
Usually, these are certificates issued with a validity period of 1-2 years, and need to be renewed thereafter. The process of obtaining a DS can take up to 1-2 weeks. The fees charged for issuing a DS depends on the vendor and the validity period. The cost of obtaining a Class II DS could range from Rs 300 to Rs 2,000.
As of now, use of digital signatures is optional. Manual signatures on the acknowledgement would be good enough.
The Form-16 issued by the employer will be the main guide to filling the returns form. Once you are done with filling the form, you need to validate all the information by clicking on the validate key and proceed to generate an XML file, which will have to be uploaded on to the site by clicking on the 'submit returns' icon. If you have obtained a digital signature (DS) certificate, you need to upload it along with the XML file.
Once the website displays the acknowledgement details, your task can be considered complete. You can preserve a printout of the acknowledgement slip for your records. However, in case you have submitted the returns without a DS, the ITR 5 form will be generated , which will have to be filled and submitted to your local income tax office within 15 days of e-filing your return. In case you are unable to so, your returns is rendered invalid. ITR-V has to be signed and submitted in duplicate.
The IT Department will retain a copy and hand over the other duly stamped copy to you. This copy will serve as proof that you have submitted ITR 5 within the stipulated time. You are not required to attach any documents like the Form-16 or TDS certificates along with ITR 5.
A digital signature (DS) required to validate electronic documents can be obtained for a fee from a certification agency authorised by the government to issue them. An individual assessee is required to obtain Class II/Class III digital signature certificates, which are issued after the submission of relevant identity and address proofs.
Usually, these are certificates issued with a validity period of 1-2 years, and need to be renewed thereafter. The process of obtaining a DS can take up to 1-2 weeks. The fees charged for issuing a DS depends on the vendor and the validity period. The cost of obtaining a Class II DS could range from Rs 300 to Rs 2,000.
As of now, use of digital signatures is optional. Manual signatures on the acknowledgement would be good enough.
| E Payment of Taxes |
| To facilitate e-payment of taxes CBDT has clarified that an assessee can make e- payment of taxes from the account of any other person. It is also clarified that tax deducted at source (TDS) or tax collected at source (TCS) shall fall within the meaning of tax for the purpose of e-payment. Circular No.5 |
| Annexureless Returns |
| To enable taxpayers to file returns in the electronic mode, Income Tax Returns (except ITR-7) have been made annexureless. The CBDT has issued clarifications on annexureless returns. Press Release Circular No.6 |
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