new it returns under income tax act and tax … · new it returns under income tax act and tax...

NEW IT RETURNS UNDER INCOME TAX ACT AND TAX AUDIT

Compiled by CA Avinash Rawane (Downloaded from www.taxguru.in)

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Endeavor of CPCto promote voluntary compliance;

to educate tax payers and citizens about tax laws;

to provide information, forms and other assistance at the facilitation counters and also on website www.incometaxindia.gov.in

to continuously improve service delivery

to induct state-of-the-art and green technology with a user friendly interface & and

to inculcate a healthy tax culture where the taxpayers and the tax collectors discharge their obligations with a sense of responsibility towards nation building


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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, MICR 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


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Services available for various users in e-Filing

4 Compiled by CA Avinash Rawane (Downloaded from www.taxguru.in)

Record Numbers of Returns Filed

Income Tax Department has received a record number of 2.97 crores e-Returns in

the F.Y. 2013-14..

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.


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Returns Filed Summary


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Who are required to e-file for AY 2014-15


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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;

WHICH ITR SHOULD BE SELECTED


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DUE DATES FOR ITR


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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


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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


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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


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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


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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.


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Mandatory Filing of ITR Any assessee having total income of Rs 5 Lakhs and above;

Individual/ HUF, being resident, having assets located outside India from AY2012-13

An assessee required to furnish a report of audit specified under sections10(23C)(iv), 10(23C)(v),10(23C)(vi) ,10(23C)(via) , 10A, 12A(1)(b), 44AB,80-IA,80-IB,80-IC, 80-ID,80JJAA, 80LA, 92E or 115JB of the Act,

An assessee required to give a notice under Section 11(2)(a) to theAssessing Officer fromAY 2014-15

All companies. Firm, AOP, BOI, Artificial Juridical Person , Co-operative Society and Local

Authority required to file ITR 5 fromAY 2014-15. An assessee required to furnish return u/s 139 (4B) in ITR 7. A resident who has signing authority in any account located outside India. A person who claims relief under section 90 or 90A or deduction under

section 91.17 Compiled by CA Avinash Rawane

(Downloaded from www.taxguru.in)

Who are required to file for AY 2014-15 (e-file not MANDATORY)


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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);

Charitable Organisation under Section 139(4A);

WHICH ITR TO BE FILED FOR AY 2014-15 (INDIVIDUALS/HUF)


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• 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)



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• 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)



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WHICH ITR TO BE FILED FOR AY 2014-15


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• 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)


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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

Modification in New Returns


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Two E-mail Ids can now be given in the Return;

Mobile Number of the Assesseemade mandatory and can be upto 2;

Drop Down Box provided for Section wise Return;

Modification in New Returns


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Details of Income earned outside India to be provided in the Return for RI;

Details of Assets held in foreign country, taxes paid and the relief claimed to be provided in the Return (Applicable only for RI)

Details of FI in any entity, Trusteeship in any country, Bank Account Details & Immovable property, signing authorities in any foreign country;

Certain New Circulars on e-Filing


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Details of Foreign Assets, Income etc. in foreigncountries to be the part of ROI from AY 2013-14 incase of Resident & Ordinarily Resident Assessee(Notification S.O. 111(E) dt. 1.4.2013);

Other Conditions Not Applicable if assets is located outside India or

signatory located outside India; and Has claimed relief under Section 90 or 90A or deduction

of tax under Section 91; and Has Income not chargeable to tax exceeding `5000

Compulsory e-filing with our without digital signature in aforesaid cases.

New Look of Website


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Additional Services in New Website


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Tax Credit Mismatch Report

Prepare Online ITR-1 and ITR4-S and Upload

Can get prefilled XML with certain details

XML & ITR of earlier years can be downloaded

Dashboard Option to have glance & status your filed Returns

NEW FEATURES OF WEBSITE


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Introduction of various categories for registration

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

Changes to be made in Settings


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Amendment in Profile Settings required

PAN of the Signing

Authority is mandatory

Up-dation of Contact Details

CIRCULAR DATED 19/06/2014 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.

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;

VALIDITY OF THE PIN IS 24 HOURS


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CIRCULAR DATED 19/06/2014 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.


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FOR NEW USERS

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


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FOR EXISTING USERS

• Requested to update the current PERSONAL Mobile number and PERSONAL E-mail ID.

• Updated contact particulars are registered with the Department or confirm that the Mobile number and email ID already registered is their valid personal contacts.

After the user log in

• Department would immediately send OTPs (PIN1 & PIN2) to new mobile number and Email ID.

• PIN 1 AND PIN 2should 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

Upon submitting the details,


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Updation of Contact Details


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PIN MANDATORY


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PIN DETAILS RESENT AFTER 2 MIN


BROWSER SETTINGS


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System Configuration: OPERATING SYSTEM -


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ENABLING JAVA SCRIPT


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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


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CANNOT READ XML FILE


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NEW JAVA UTILITYSimilar to E-Audit Forms

Better than excel utility

Currently, available for ITR-1, ITR-2, ITR-3, ITR-4 and ITR-4S

Prefill facility available

Excel utility currently available only for ITR-2

Quick e-file ITR-1 and ITR-4S online – a welcome move

Software requirements need to be fulfilled

File saving – Drawback

Print option – Not available


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UTILITIES AVAILABLE ON ITD


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ZIP FILE- ALL FILES TO BE DOWNLOADED


HOW TO USE NEW JAVA UTILITIES


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VARIOUS OPTIONS AVAILABLE


OPTION OF DROP DOWN BOXES


PREFILL OPTION


FEATURES OF NEW UTILITIES


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SELECTION OF OTHER AUDITS


OTHER CHANGES IN ITR FORMS Drop Box given for Nature of Business to be selected; In Other Operating Revenues- Details to be keyed in

manually; Other Expenses (Specific Nature and amount to be

given); Bad Debts Claimed (PAN Number to be given if claim

above Rs. 1Lakh is claimed);


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CERTAIN RESTRICTIONS

NPn


MANDATORY INFORMATION


SCHEDULE-OI


DRAFT COMPUTATION AVAILABLE FOR VERIFICATION OF INCOME


SUMARISED CAPITAL GAINS


COMPUTED INFORMATIONS


COMPUTED TAX LIABILITY BASED ON INFORMATION SUBMITTED


COMPUTED TDS


IFSC CODE MANDATORY


FEATURES OF NEW UTILITIES


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SALARY INCOME


MANDATORY DISALLOWANCE


Additional Information in Returns


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Information about Audit is any other Section to be informed;

Balance Sheet Format made in line with Revised Schedule VI with certain Additional Information;

Deposits to/from Related Parties – Section 2(22)(e);

Break up of Investments in Property, Shares etc. required;

Trade Payables Outstanding – Periodicity introduced;

Other Expenses – Full Details to be given in the Residual Category

Break Ups required in certain cases.


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Share Application Money – Period of Outstanding;

Long Term Advances – Purpose Break ups;

Sum advanced to the related parties;

Payments made to Non residents for certain expenses like Salary, Fees, Royalty, Commission & Interest;

Bad Debts exceeding 1 Lakh Claimed requires PAN Details

DEPRECIATION SCHEDULES


MAJOR CHANGES IN E-FORMS (CAPITAL GAINS)

Long Term Capital gains

1. From sale of land or building/ both 2. From slump sale

3. Sale of bonds/ debentures where indexation is not allowed 4. Securities etc. taxable @ 10% without indexation benefit and GDRs of

Indian companies referred in sec 115ACA

5. Sale of shares/ debentures of Indian company by non-resident (Non-FII) 6. Non resident selling 1. Unlisted securities 2. Bonds/ GDRs u/s 115AC 3. Securities by FIIs u/s 115AD 7. Sale of foreign asset by non-resident Indian (if opted for Ch. XII-A) 8. Any other long term capital gains


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MAJOR CHANGES IN E-FORMS (CAPITAL GAINS)

Particulars of capital gains required to be furnished (as per ITR-4):

A. Short Term Capital Gains 1. From sale of land or building/ both 2. From slump sale 3. STT paid assets 4. Sale of shares/ debentures of Indian company by non-

resident (Non-FII) 5. Sale of securities by non-resident FIIs (Sec 115AD) 6. All other STCG not covered above


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SLUMP SALE


SEPARATE INFORMATION FOR NR


SUMARISED VIEWING


SEPARATE SCHEDULE FOR 80G CLAIM


MODIFIED SECTION 80 DEDUCTIONS


TAX RELIEF DETAILS


CHANGES IN ITRS FOR AY 2014-15 Unclaimed TDS of earlier year can be claimed; DTA Relief from Cyprus to be reported separately in

ITR; Refund to be credited to the Bank Account of Assessee.

Issue of Refund by cheque discontinues; CIN/DIN Number of Company/LLP to be mentioned in

ITR-6 made mandatory for Domestic Companies; Schedule BBS introduced to report for the consideration

paid for buy-back of own securities by unlistedcompanies;


CHANGES IN ITRS FOR 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;


CHANGES IN ITRS FOR AY 2014-15 Date of furnishing of Audit Report made mandatory for

TP/APA cases in ITR-4; Separate disclosure of sums paid to NR extended to ITR-

4; Option for Section 87A rebate enabled in ITR; Private discretionary Trust to file ITR-5; ITR-7 to mention Reg. No., RA and section for claiming

exemption. Trust to be file application online foraccumulation of unutilised portion of income;

New Schedule VC inserted in ITR-7 for reporting ofvarious voluntary donations received by the Trust.


Additional Information in Returns


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Statement of Affairs

Mandatory

Reporting of Foreign

Income/Assets

Additional Sheets Introduced


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• Unabsorbed Depreciation claimSheet UD

• Set off of B/F MAT CreditSheet MATC

• Adjustment of Dividend Received against Declared

SheeetDDT_TDS_TCS

Additional Sheets Introduced


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• Adjustment of Tax Paid in Foreign Country

Sheet TR_FA

• Details of Assets Held in Foreign Country & Financial Interest

Sheet FA

RECONCILIATION OF TDS


WARNING TO CORRECT VALIDATION ERRORS


DIRECT SUBMISSION OPTION


NOTIFICATION NO 210/2007 DATED 27.07.2007

e-Return Intermediary it must be a public sector company or; a firm of Chartered Accountants or Advocates, if it has been

allotted a permanent account number; a Chartered Accountant or an Advocate, if he has been allotted

a permanent account number; or a Drawing or Disbursing Officer (DDO) of a Government

Department;

Digital Signature of E-Intermediary mandatory; Have in place security procedure to the satisfaction of e-

RA to ensure that confidentiality of the assessees' information is properly secured


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NOTIFICATION NO 210/2007 DATED 27.07.2007

have necessary archival, retrieval and, securitypolicy for the e-Returns which would be filedthrough him, as decided by e-ReturnAdministrator from time to time;

Principal Officer, must not have been convictedfor any professional misconduct, fraud,embezzlement or any criminal offence by anycourt of law or by any professional body, as thecase may be;


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Authorisation of e-Return Intermediary

Application to be made online on www.tin-nsdl.com

Registrar to verify the application; Registrar to carry due diligence; ERIN to be issued; Validity Period is 2 years and may be extended

for further period of 2 years; Confidentiality to be maintained.


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Procedure to be followed An ERI to receive the paper return of income, duly verified by

the eligible person or shall prepare the return of income onthe basis of the documents furnished by the eligible person, asthe case may be ;

ERI shall upload the completed return of income, aftervalidation of permanent account number, in the formatspecified by the e-Return Administrator, using his e-ReturnIntermediary Identification Number (ERIIN).

The e-Returns shall be processed on priority basis. The refund, if any, due to the assessee shall be either credited

by the assessing officer directly to his bank account, using theElectronic Clearing Services of the Reserve Bank of India or bedirectly sent to the assessee


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Reports mandated by CA for e-filing


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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)

Uploaded by CA & Approved by

Assessee

Process for ITR Filing for Audit Cases


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Register as CA user

Assessee to add Tax Auditor & Consultant

CA to upload AR xml with Digital Signature

Assessee to upload ITR & confirm TAR

The pre-requisites for registering as Chartered Accountantin e-Filing are

1. You should be a practicing Chartered Accountant(registered with Institute of Chartered Accountants ofIndia, ICAI, with a valid Membership Number)

2. You should have a valid Permanent Account Number(PAN) and Digital Signature Certificate.

Registration



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After you login, the blue navigation bar on top will display additional menuoptions.

The Dashboard option will provide the current notifications and also the detailsof your previous e-Filed returns.

My Account option will provide services such as View Forms and View ClientList.

The e-File and Downloads options, will allow you to file your return anddownload Forms, respectively.

The Profile Settings option will allow you to update your profile, details likedigital signature upload, secret question, contact details, change password, etc.

The Worklist option will provide list of items, which may be pending for action atyour end.

The Helpdesk option will allow you to raise a ticket, if you face any issues whilee-Filing and check status of the ticket, if raised.

Services


Procedure to Add CA as Auditor


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What CA can do


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Authorize and verify various statutory Income Tax Forms.

Upload all Forms other than ITR;

Download Income Tax forms and upload XML;

View e-filed forms under his ID and download its STATUS;

Can opt for higher security by Login with details and digital signature.

View the Outstanding Demand

Being a registered user on the portal, you can file Forms(Other than ITR) electronically.

The pre-requisites for e-Filing are1. Assessee and the CA should be registered in e-Filing2. Assessee should have added the CA for the desired

Form and Assessment Year

There are two ways to file Forms electronically.

Submission of Forms (other than ITR)


1. GO TO 'Downloads' section and select applicable Form (other than ITR) of the desired Assessment Year OR Login to e-Filing application and GO TO 'Downloads‘-->'Download Forms' and select applicable Income Tax Form of the desired Assessment Year.

2. Download and fill the utility of the Form (other than ITR) and validate.3. Fill the utility and Validate.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 Form6. Enter the Assessee’s PAN, CA’s PAN; select the Form Name (other than ITR) and the

Assessment Year.7. Browse and Select the XML file8. Upload Digital Signature Certificate.9. Click 'SUBMIT'.10. On successful upload, the Form (other than ITR) is sent to Assessee's workflow for

acceptance.11. The Assessee should LOGIN to e-Filing application, GO TO Worklist and

accept/reject the Form (other than ITR). 12. A) On Approval, the Form is successfully submitted with e-Filing application. No

further action is required. B) If Rejected, the Tax Professional can file the Form (other than ITR) again and follow the same process as mentioned in 10, 11 & 12a.

Steps for submission of Offline Forms (other than ITR)


1. GO TO 'e-File' menu post Login and "Submit Form Online“

2. Enter the Assessee PAN, CAs PAN, select the Form Name (other than ITR) and the Assessment Year.

3. Upload Digital Signature Certificate.

4. Click 'SUBMIT'.

5. Enter the data and Submit

6. On successful submission, the Form (other than ITR) is sent to Assessee's workflow for acceptance.

7. The Assessee should LOGIN to e-Filing application, GO TO Worklist and accept/reject the Form (other than ITR).

8. a) On approval, the Form is successfully submitted with e-Filing application. No further action is required. b)If rejected, the Tax Professional can file the Income Tax Form (other than ITR) again and follow the same process as mentioned above.

Steps for submission of Online Forms (other than ITR)


There are some statutory Forms like Form 62, Form 63, Form 63A and Form 64which needs to be initiated by Assessee and reviewed by CA. On finding theForms in order, CA will approve and an acknowledgment number is generated.

Steps to verify submitted Forms (other than ITR) of Assessee

1. The CA should LOGIN to e-Filing application, GO TO Worklist and verify theIncome Tax Form (other than ITR) submitted by the Assessee.

2. Upload Digital Signature Certificate.3. Click 'SUBMIT'.4. The Form is successfully submitted with e-Filing application. No further

action is required.

Verification of Forms (other than ITR)


View Forms

My Account

View Forms displays the list of Forms uploaded by CA for an assessee.

The CA will type the PAN of the assessee and clicks SUBMIT button


Steps for Uploading


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Utility of Audit Forms to be prepared by CA

and uploaded;

Digital Signature to be affixed;

Form forwarded to the Assessee’s ID 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.

Check List of the Documents & Software required


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Java Runtime Version 7 update 6 or above

Annual Accounts with relevant reports

Other documents

Steps Thereafter


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User-ID & Password sent to CA user in

activation link;

CA to activate user ID by providing user

ID & password;

Change the temporary password

provided immediately;

Assessee to Add CA for uploading AR;

Information mail sent to CA informing his selection as Auditor

by Assessee;

CA can now file AR

Information Mail from ITD


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Confirmation Mail from ITD


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Status of the Audit Report Filed


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Mail Confirmation of Acceptance of AR


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Non Acceptance of AR Filed


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Certain Mandatory Details in Form 3CD


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Business Code – To match with ITR Returns;

Selection of Details required to be compulsory from the Drop Down Box;

Details of PAN to be given for payments made to persons specified in Section 40(A)(2)(b);

No Facility to provide Disclaimer Notes;

Full Details to be given for Fixed Assets including date of purchase/sale – to match with ITR;

Section 43B payments – Date of subsequent payment not required to be given;



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Details can be filled and saved and can be reworked

Membership Number of Report Signing CA to be given

Category of the Assessee to be given, other details NA gets freezed

Each information to be given in YES/NO/NA from drop down box

Chapter VIA Deductions Allowable details to be given Section wise

Quantitative Details and Ratio Analysis



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Details of Disallowance Amount of Expenses only to be given in Clause 17

Figures for Salary & Remuneration to Partners to be given for provided and allowable

Computation of Section 41 to be part of TA

Method of Accounting Followed for Excise/VAT to be given including treatment of outstanding

Full Details of Loan Taken & Given details to be given


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A Sign of Relief for this Year


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Revised Audit Report format Not Applicable for the current financial year

Attachments


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Generated XML of AR

Balance Sheet in PDF

or ZIP

Profit & Loss in PDF or

ZIP format

Other Attachments

Maximum Size Allowed

is 50MB

Avoid Last Days…


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Details of Last Minutes Filing


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SUMMARY IN A NUT SHELL


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Some Useful Tips


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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


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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 Required


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Call Centre of Income Tax Department available/Helpdesk also available

send e-mail efilinghelpdesk@ incometaxindia.gov.in

Tools for Help Available on the ITD Website

New Call Centre Numbers


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E-Assessments


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New 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;

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 such computer, computer systemor computer network downloads, copies or extracts any data, computer data base information from suchcomputer, computer system or computer network including information or data held or stored in anyremovable storage medium, 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 computer network, data, computerdatabase 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 orcomputer network by any means;

provides any assistance to any person to facilitate access to a computer, computer system or computernetwork in contravention of the provisions of this Act, rules or regulations made thereunder;

charges the services availed of by a person to the account of another person by tampering with ormanipulating any computer, computer system or compute network he shall be liable to pay damages by wayof compensation not exceeding one crore rupees to the 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, orcomputer network;

(ii) “computer database” means a representation of information,

knowledge, facts, concepts or instructions in text, image, audio, video that are being preparedor have been prepare in a formalised manner or have been produced by a computer,computer system or computer network and are intended for use in a computer, computersystem or computer network;

(iii) “computer virus” means any computer instruction, information, data or programme thatdestroys, damages, degrades adversely affects the performance of a computer resources orattaches itself to another itself to another computer resources and operates when aprogramme, date or instruction is executed or some other even takes place in that computerresource;

(iv) “damage” means to destroy, alter, delete, add, modify or re-arrange any computer resourceby any means


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

made under this Act, for the contravention ofwhich no penalty has been separately provided,shall be liable to pay a compensation notexceeding twenty-five thousand rupees to theperson affected by such contravention or apenalty not exceeding twenty-five thousandrupees.


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 causing annoyance,inconvenience, danger, obstruction, insult, injury, criminal intimidation, enmity, hatred, or ill will,persistently makes by making use of such computer resource or 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 "Electronic MailMessage" means a message or information created or transmitted or received on a computer,computer system, computer resource or communication device including attachments in text,image, audio, video and any other electronic record, which may be transmitted with themessage]


VARIOUS PENALTIES UNDER IT ACT

66C Punishment for identity theft. (InsertedVide ITA 2008)

Whoever, fraudulently or dishonestly make use of the electronic signature,password or any other unique identification feature of any other person,shall be punished with imprisonment of either description for a term whichmay extend to three years and shall also be liable to fine which may extendto rupees one lakh.]



Section 66D Punishment for cheating bypersonation by using computer resource(InsertedVide ITA 2008)

Whoever, by means of any communication device orcomputer resource cheats by personation, shall bepunished with imprisonment of either description fora term which may extend to three years and shallalso be liable to fine which may extend to one lakhrupees.]



Section 66E Punishment for violation ofprivacy. (InsertedVide ITA 2008)

Whoever, intentionally or knowingly captures,publishes or transmits the image of a private area ofany person without his or her consent, undercircumstances violating the privacy of that person,shall be punished with imprisonment which mayextend to three years or with fine not exceeding twolakh rupees, or with both


Another Cause of Concern


162

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;


163

Department has noticed that incorrectinformation filing is resulting in delayof processing of Returns;


164

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


165

Doubts & QuerriesDoubts & Querries

Any Questions

Thank You

C.A. Avinash V. Rawani 165


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Compiled by CA Avinash RawaneRawani 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.