notification income taxtaxclubindia.com/itr forms 09-10/all.pdf13 a interest payable u/s 234a 13a b...

[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB‐SECTION (ii)]

GOVERNMENT OF INDIA MINISTRY OF FINANCE

(DEPARTMENT OF REVENUE) CENTRAL BOARD OF DIRECT TAXES

New Delhi, the 27th March, 2009

NOTIFICATION INCOME‐TAX

S.O. 866(E).‐ In exercise of the powers conferred by section 295 of the

Income‐tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the

following rules further to amend the Income‐tax Rules, 1962, namely:‐

1. (1) These rules may be called the Income‐tax (9th Amendment) Rules, 2009.

(2) They shall come into force on the 1st day of April, 2009.

2. In the Income‐tax Rules, 1962, ‐

(a) in rule 12, –

(i) in sub‐rule (1), for the words, figures and letters “on the 1st day of

April, 2008”, the words, figures and letters “on the 1st day of April,

2009” shall be substituted;

(ii) in sub‐rule (5), for the words, figures and letters “on the 1st day of

April, 2007”, the words, figures and letters “on the 1st day of April,

2008” shall be substituted;

(b) in Appendix‐II, for Form ITR‐1, Form ITR‐2, Form ITR‐3, Form ITR‐4, Form

ITR‐5, Form ITR‐6, Form ITR‐7, Form ITR‐8 and ITR‐V the following forms

shall be substituted, namely:‐

simpletaxindia.blogspot.com

Assessment Year

FO

RM

ITR-1

INDIAN INCOME TAX RETURN[For Individuals having Income from Salary/ Pension/ family pension and

Interest](Please see rule 12 of the Income-tax Rules,1962)

(Also see attached instructions)

2 0 0 9 - 1 0

PANFirst name Middle name Last name

Date of Birth (DD/MM/YYYY)Flat/Door/Block No Name Of Premises/Building/Village

/ /

Employer Category (Tick)Road/Street/Post Office Area/Locality

Govt PSU Others

Pin code Sex (Tick)Town/City/District State

Male FemalePE

RSO

NA

L I

NF

OR

MA

TIO

N

Email Address (STD code)-Phone Number ( )

Designation of Assessing Officer (Ward/Circle) Return filed under Section -[Please see instruction number-9(i)]

Whether original or Revised return? (Tick) Original Revised

If revised, enter Receipt No and Date of filing original return (DD/MM/YYYY)

/ /

FIL

ING

ST

AT

US

Residential Status (Tick) Resident Non-Resident Resident but Not Ordinarily Resident

1 Income chargeable under the Head ‘Salaries’(Salary/ Pension) 1

2 Income chargeable under the Head ‘Other Sources’

a Family pension 2a

b Interest 2b

c Total (2a+2b) 2c

3 Gross Total Income (1+2c) 3

4 Deductions under chapter VI A (Section)

a 80C e 80DD i 80GG

b 80CCC f 80DDB j 80GGA

c 80CCD g 80E k 80GGC

d 80D h 80G l 80U

m Deductions (Total of a to l) 4m

5 Total Income (3-4m) 5

6 Net Agricultural Income (Enter only if greater than Rs 5,000) 6

INC

OM

E &

DE

DU

CT

ION

S

7 ‘Aggregate Income’ (5+6) 7

8 a Tax Payable on ‘Aggregate Income’ 8a

b Rebate in respect of Net Agricultural income 8b

9 a Tax Payable on Total Income( 8a-8b) 9a

b Surcharge on 9a 9b

cEducation cess, including secondary and higher education cess on (9a+9b)

9c

d Total Tax, Surcharge and Education Cess Payable (9a+9b+9c) 9d

10 Relief under Section 89 10

11 Relief under Section 90/91 11

TA

X C

OM

PU

TA

TIO

N

12 Balance Tax Payable (9d-10-11) 12

13 a Interest Payable U/s 234A 13a

b Interest Payable U/s 234B 13b

c Interest Payable U/s 234C 13c

dTotal Interest Payable (13a+13b+13c)

13d

14Total Tax and Interest Payable (12+13d)

14

Do not write or stamp in this area (Space for bar code)

For Office Use Only

RReecceeiipptt NNoo

DDaattee

SSeeaall aanndd SSiiggnnaattuurree ooff rreecceeiivviinngg ooffffiicciiaall


15 Taxes Paid

a Advance Tax (from item 23) 15a

b TDS (column 7 of item 21 +column 7 of item 22) 15b

c Self Assessment Tax (from item 23) 15c

d Total Taxes Paid (15a+15b+15c) 15dTA

XE

S P

AID

16 Tax Payable (14-15d) (Enter if 14 is greater than 15d, else leave blank) 16

17 Refund (15d-14) (enter if 15d is greater than 14, also give Bank Account details below) 17

18 Enter your bank account number (mandatory in case of refund)

19 Do you want your refund by cheque, or deposited directly into your bank account? (tick as applicable )

20 Give additional details of your bank accountRE

FU

ND

MICR Code Type of Account (tick as applicable ) Savings Current

21 Details of Tax Deducted at Source from Salary [As per Form 16 issued by Employer(s)]Sl No

Tax Deduction Account Number (TAN) of the Employer

Unique Transaction Number (UTN)

Name and address of the Employer

Income chargeable under the head Salaries

Deduction under Chapter VI-A

Tax payable (incl. surch. and edn. cess)

Total tax deducted

Tax payable/ refundable

(1) (2) (9) (3) (4) (5) (6) (7) (8)

i

TD

S O

N S

AL

AR

Y

ii

22 Details of Tax Deducted at Source on Interest [As per Form 16 A issued by Deductor(s)]Sl No

Tax Deduction Account Number (TAN) of the Deductor


Name and address of the Deductor

Amount paid/ credited

Date of Payment / Credit

Total tax deducted

Amount out of (6) claimed for this year

(1) (2) (8) (3) (4) (5) (6) (7)

i

ii

iiiTD

S O

N I

NT

ER

EST

NOTE ► Enter the total of column (7) of 21 and column (7) of 22 in Sl No. 15b of TAXES PAID

23 Details of Advance Tax and Self Assessment Tax PaymentsSl No

Name of Bank & Branch BSR Code Date of Deposit (DD/MM/YYYY)

Serial Number of Challan

Amount (Rs)

i

ii

iii

iv

vTA

X P

AY

ME

NT

S

NOTE ► Enter the totals of Advance tax and Self Assessment tax in Sl No. 15 a and 15c of TAXES PAID

24 Other Information (transactions reported through Annual Information Return) (Please see instruction number-9(ii) for code)

Sl Code Amount (Rs) Sl Code Amount (Rs) Sl Code Amount (Rs)

a 001 d 004 g 007

b 002 e 005 h 008

c 003 f 006

25 Tax-exempt interest income (for reporting purposes only) 25

VERIFICATION

I, son/ daughter of solemnly declare that to the best of my knowledge and belief, the information given in the return thereto is correct and complete and that the amount of total income and other particulars shown therein are truly stated and are in accordance with the provisions of the Income-tax Act, 1961, in respect of income chargeable to Income-tax for the previous year relevant to the Assessment Year 2009-10.

Place Date Sign here

26 If the return has been prepared by a Tax Return Preparer (TRP) give further details as below:Identification No. of TRP Name of TRP Counter Signature of TRP

If TRP is entitled for any reimbursement from the Government, amount thereof (to be filled by TRP) 27simpletaxindia.blogspot.com

Assessment Year

FO

RM

ITR-1

INDIAN INCOME TAX RETURN[For Individuals having Income from Salary/ Pension/ family pension and

Interest](Please see rule 12 of the Income-tax Rules,1962)

(Also see attached instructions)

2 0 0 9 - 1 0

PANFirst name Middle name Last name

Date of Birth (DD/MM/YYYY)Flat/Door/Block No Name Of Premises/Building/Village

/ /

Employer Category (Tick)Road/Street/Post Office Area/Locality

Govt PSU Others

Pin code Sex (Tick)Town/City/District State

Male FemalePE

RSO

NA

L I

NF

OR

MA

TIO

N

Email Address (STD code)-Phone Number ( )

Designation of Assessing Officer (Ward/Circle) Return filed under Section -[Please see instruction number-9(i)]


If revised, enter Receipt No and Date of filing original return (DD/MM/YYYY)

/ /

FIL

ING

ST

AT

US

Residential Status (Tick) Resident Non-Resident Resident but Not Ordinarily Resident

1 Income chargeable under the Head ‘Salaries’(Salary/ Pension) 1

2 Income chargeable under the Head ‘Other Sources’

a Family pension 2a

b Interest 2b

c Total (2a+2b) 2c

3 Gross Total Income (1+2c) 3

4 Deductions under chapter VI A (Section)

a 80C e 80DD i 80GG

b 80CCC f 80DDB j 80GGA

c 80CCD g 80E k 80GGC

d 80D h 80G l 80U

m Deductions (Total of a to l) 4m

5 Total Income (3-4m) 5

6 Net Agricultural Income (Enter only if greater than Rs 5,000) 6

INC

OM

E &

DE

DU

CT

ION

S

7 ‘Aggregate Income’ (5+6) 7

Do not write or stamp in this area (Space for bar code) For Office Use Only

RReecceeiipptt NNoo

DDaattee



8 a Tax Payable on ‘Aggregate Income’ 8a

b Rebate in respect of Net Agricultural income 8b

9 a Tax Payable on Total Income( 8a-8b) 9a


cEducation Cess, including secondary and higher education cess on (9a+9b)

9c

d Total Tax, Surcharge and Education Cess Payable (9a+9b+9c) 9d

10 Relief under Section 89 10

11 Relief under Section 90/91 11

TA

X C

OM

PU

TA

TIO

N

12 Balance Tax Payable (9d-10-11) 12

13 a Interest Payable U/s 234A 13a

b Interest Payable U/s 234B 13b

c Interest Payable U/s 234C 13c

d Total Interest Payable (13a+13b+13c) 13d

14Total Tax and Interest Payable (12+13d)

14

15 Taxes Paid

a Advance Tax (from item 23) 15a

b TDS (column 7 of item 21 +column 7 of item 22) 15b

c Self Assessment Tax (from item 23) 15c

d Total Taxes Paid (15a+15b+15c) 15d

TA

XE

S P

AID

16 Tax Payable (14-15d) (Enter if 14 is greater than 15d, else leave blank) 16

17 Refund (15d-14) (enter if 15d is greater than 14, also give Bank Account details below) 17

18 Enter your bank account number (mandatory in case of refund)

19 Do you want your refund by cheque, or deposited directly into your bank account? (tick as applicable )

20 Give additional details of your bank account

RE

FU

ND


21 Details of Tax Deducted at Source from Salary [As per Form 16 issued by Employer(s)]

Sl No

Tax Deduction Account Number (TAN) of the Employer



Income chargeable under the head Salaries

Deduction under Chapter VI-A

Tax payable (incl. surch. and edn. cess)

Total tax deducted


(1) (2) (9) (3) (4) (5) (6) (7) (8)

i

TD

S O

N S

AL

AR

Y

ii


22 Details of Tax Deducted at Source on Interest [As per Form 16 A issued by Deductor(s)]Sl No

Tax Deduction Account Number (TAN) of theDeductor



Amount paid/ credited

Date of Payment / Credit

Total tax deducted

Amount out of (6) claimed for this year

(1) (2) (8) (3) (4) (5) (6) (7)

i

ii

iii

TD

S O

N I

NT

ER

EST

NOTE ► Enter the total of column (7) of 21 and column (7) of 22 in Sl No. 15b of TAXES PAID

23 Details of Advance Tax and Self Assessment Tax PaymentsSl No



Amount (Rs)

i

ii

iii

iv

vTA

X P

AY

ME

NT

S

NOTE ► Enter the totals of Advance tax and Self Assessment tax in Sl No. 15 a and 15c of TAXES PAID

24 Other Information (transactions reported through Annual Information Return) (Please see instruction number-9(ii) for code)

Sl Code Amount (Rs) Sl Code Amount (Rs) Sl Code Amount (Rs)

a 001 d 004 g 007

b 002 e 005 h 008

c 003 f 006

25 Tax-exempt interest income (for reporting purposes only) 25

VERIFICATION

I, son/ daughter of solemnly declare that to the best of my knowledge and belief, the information given in the return thereto is correct and complete and that the amount of total income and other particulars shown therein are truly stated and are in accordance with the provisions of the Income-tax Act, 1961, in respect of income chargeable to Income-tax for the previous year relevant to the Assessment Year 2009-10.


26 If the return has been prepared by a Tax Return Preparer (TRP) give further details as below:Identification No. of TRP Name of TRP Counter Signature of TRP

If TRP is entitled for any reimbursement from the Government, amount thereof (to be filled by TRP) 27


Instructions for filling out FORM ITR-11. Legal status of instructions

These instructions though stated to be non-statutory, may be taken as guidelines for filling the particulars in this Form. In case of any doubt, please refer to relevant provisions of the Income-tax Act, 1961 and the Income-tax Rules, 1962.

2. Assessment Year for which this Form is applicable This Form is applicable for assessment year 2009-2010 only.

3. Who can use this Form This Form can be used by an individual whose total income during the previous year i.e., financial year 2008-09 includes income chargeable to income-tax under the head “salaries” or income in the nature of family pension as defined in the Explanation to clause (iia) of section 57 but does not include any other income except income by way of interest chargeable to income-tax under the head “income from other sources”. There should not be any exempt income other than agriculture income and interest income. It may please be noted that a person who is entitled to use this form shall not use Form ITR-2. Further, a person in whose income the income of other person like his/ her spouse, minor child, etc. is to be clubbed is also not entitled to use this form.

4. Annexure-less FormNo document (including TDS certificate) should be attached to this form. Official receiving the return has been instructed to detach all documents enclosed with this form and return the same to the assessee.

5. Manner of filing this FormThis Form can be submitted to the Income Tax Department in any of the following manners, -

(i)by furnishing the return in a paper form;(ii) by furnishing the return electronically under digital signature;(iii) by transmitting the data in the return electronically and thereafter submitting the verification of the return in

Form ITR-V;(iv) by furnishing a bar-coded paper return.

Where the form is furnished in the manner mentioned at 5(iii), you need to print out two copies of Form ITR-V. Both copies should be verified by the assessee and submitted to the Income-tax Department. The receiving official shall return one copy after affixing the stamp and seal.

6. Filling out the acknowledgementWhere the form is furnished in the manner mentioned at 5(i) or 5(iv), acknowledgement slip attached with this Form should be duly filled out.

7. Form not to be filled in duplicateThis form is not required to be filed in duplicate.

8. Intimation of processing under section 143(1)The acknowledgement of the return is deemed to be the intimation of processing under section 143(1). No separate intimation will be sent to the taxpayer unless there is a demand or refund.

9. Codes for filling out this FormSome of the details in this Form have to be filled out on the basis of the relevant codes. These are as under:-

(i) The code (to be filled in the section “Filing Status” on first page) for sections under which the return is filed are as under:-Sl.No. How the return is filed Codei. Voluntarily before the due date 11ii. Voluntarily after the due date 12iii. In response to notice under section 142(1) 13iv. In response to notice under section 148 14v. In response to notice under section 153A/ 153C 15

(ii) In item No.24, the details of following transactions, if any, entered by you during the financial year 2008-09 are to be entered. (If a transaction is not entered, please leave blank the relevant column in this item).

Sl.No. Code Nature of transaction1. 001 Cash deposits aggregating to ten lakh rupees or more in a year in any savings account by you

maintained in a banking company to which the Banking Regulation Act, 1949 (10 of 1949), applied (including any bank or banking institution referred to in section 51 of that Act)

2. 002 Payment made by you against bills raised in respect of a credit card aggregating to two lakh rupees or more in a year.

3. 003 Payment made by you of an amount of two lakh rupees or more for purchase of units of Mutual Fund.4. 004 Payment made by you of an amount of five lakh rupees or more for acquiring bonds or debentures

issued by a company or institution.5. 005 Payment made by you of an amount of one lakh rupees or more for acquiring shares issued by a

company.6. 006 Purchase by you of any immovable property valued at thirty lakh rupees or more.7. 007 Sale by you of any immovable property valued at thirty lakh rupees or more.8. 008 Payment made by you of an amount of five lakh rupees or more in a year for investment in bonds issued

by Reserve Bank of India.10. Obligation to file return

Every individual has to furnish the return of his income if his total income before allowing deduction under Chapter VI-A (i.e., if his gross total income referred to in item 3 of this Form) exceeds the maximum amount which is not chargeable to income tax [Rs. 1,50,000/- in case of individuals below the age of 65 years (other than women), Rs. 1,80,000/- in case of women below the age of 65 years, and Rs. 2,25,000/- in case of individuals who are of the age of 65 years or more at any time during the financial year 2008-09] .

11. Guidance for filling out the formsMost of the details to be filled out in this form are self-explanatory. However, some of the details mentioned below are to be filled out as explained hereunder:-

(a) e-mail address and phone number are optional;(b) In “employer category”, Government category will include Central Government/ State Governments employees. PSU category will

include public sector companies of Central Government and State Government;(c) In item 1, fill the details of salary/ pension as given in TDS certificate (Form 16) issued by the employer. However, if the

income has not been computed correctly in Form No. 16, please make the correct computation and fill the same in this item. Further, in case there were more than one employer during the year, please furnish in this item the details in respect of total salaries from various employers.

(d) In item 2(a), please fill the details of family pension, if any, received by you during the year. In item 2(b), please furnish the details of income by way of interest which is chargeable to income-tax under the head “income from other sources”. Exempt interest income shall not be filled in this item but be filled in item No.25.


(e) In item 4, fill the details of deductions allowable under following sections of Chapter VI-A as under:-(i) Section 80C (Some of the major items for deduction under this section are- amount paid or deposited towards life insurance,

contribution to Provident Fund set up by the Government, recognised Provident Fund, contribution by the assessee to an approved superannuation fund, subscription to National Savings Certificates, tuition fees, payment/ repayment for purposes of purchase or construction of a residential house and many other investments)(for full list, please refer to section 80C of the Income-tax Act) (Please note that as provided in section 80CCE, aggregate amount of deduction under section 80C, 80CCC and 80CCD shall not exceed one lakh rupees).

(ii) Section 80CCC (Deduction in respect of contributions to certain pension funds)(iii) Section 80CCD (Deduction in respect of contributions to pension scheme of Central Government)(iv) Section 80D (Deduction in respect of Medical Insurance Premium)(v) Section 80DD (Deduction in respect of maintenance including medical treatment of dependent who is a person with

disability)(vi) Section 80DDB (Deduction in respect of medical treatment, etc.)(vii) Section 80E (Deduction in respect of interest on loan taken for higher education)(viii) Section 80G (Deduction in respect of donations to certain funds, charitable institutions, etc.)(ix) Section 80GG (Deduction in respect of rents paid)(x) Section 80GGA (Deduction in respect of certain donations for scientific research or rural development)(xi) Section 80GGC (Deduction in respect of contributions given by any person to political parties)(xii) Section 80U (Deduction in case of a person with disability)

(f) In item No. 8a, calculate the tax liability on the income which includes the agricultural income (i.e., income as per item 7). In item 8b, compute the tax liability on the income which is aggregate of Rs. 1.50 lakh and net agriculture income. The tax liability has to be computed for items 8a and 8b at the rates given as under:-(i) In case of individuals (other than women and individuals who are of the age of 65 years or more at any time during the financial year 2008-09) -

Income (In Rs.) Tax Liability (In Rs.)Upto Rs. 1,50,000 NilBetween Rs. 1,50,001 - Rs. 3,00,000 10% of income in excess of Rs. 1,50,000Between Rs. 3,00,001 – Rs. 5,00,000 Rs. 15,000 + 20% of income in excess of Rs. 3,00,000Above Rs.5,00,000 Rs. 55,000 + 30% of income in excess of Rs. 5,00,000

(ii) In case of women (other than women who are of the age of 65 years or more at any time during the financial year 2008-09) -

Income (In Rs.) Tax Liability (In Rs.)Upto Rs. 1,80,000 NilBetween Rs. 1,80,001 - Rs. 3,00,000 10% of income in excess of Rs. 1,80,000Between Rs. 3,00,001 – Rs. 5,00,000 Rs. 12,000 + 20% of income in excess of Rs. 3,00,000Above Rs.5,00,000 Rs. 52,000 + 30% of income in excess of Rs. 5,00,000

(iii) In case of individuals who are of the age of 65 years or more at any time during the financial year 2008-09-Income (In Rs.) Tax Liability (In Rs.)Upto Rs. 2,25,000 NilBetween Rs. 2,25,001 – Rs. 3,00,000 10% of income in excess of Rs. 2,25,000Between Rs. 3,00,001 – Rs. 5,00,000 Rs. 7,500 + 20% of income in excess of Rs. 3,00,000Above Rs.5,00,000 Rs. 47,500 + 30% of income in excess of Rs. 5,00,000

(g) In item 9b, fill the details of surcharge at the rate of ten per cent of item No.9a, if the total income as per item No.5 exceeds ten lakh rupees. However, such surcharge shall not exceed the amount being the difference of total income and ten lakh rupees.

(h) In item No. 9c, calculate the education cess including secondary and higher education cess at the rate of three per cent of [item No.9a + item No. 9b]

(i) In item No. 10, claim the relief, if any, allowable under section 89 in respect of arrears or advances of salary received during the year.(j) item 20- Please quote the MICR code of the bank if you desire to receive the refund through electronic clearing system (ECS).

However, it may not be possible to issue the refund in all cases through ECS since the ECS facility is not available across the country. (k) In items 21 and 22, please furnish the details in accordance with Form 16 issued by the employer(s) in respect of salary income and

Form 16A issued by a person in respect of interest income. Further in order to enable the Income Tax Department to provide accurate, quicker and full credit for taxes deducted at source, the taxpayer must ensure to quote the Unique Transaction Number (UTN) in respect of every TDS transaction. In general the UTN would be printed on the TDS certificate issued by the deductor. However, incase it is not available on the certificate, the taxpayer should separately obtain the UTN either from the deductor or from the website of National Securities Depository Limited (NSDL) at http://www.tin-nsdl.com .

(l) Items 27 and 28 - This return can be prepared by a Tax Return Preparer (TRP) also in accordance with the Tax Return Preparer Scheme, 2006 dated 28th November, 2006. If the return has been prepared by him, the relevant details have to be filled by him in item No.26 and the return has to be countersigned by him in the space provided in the said item. The Tax Return Preparer is entitled to a maximum fees of Rs. 250/- from the taxpayer. TRP is also entitled to a reimbursement from the Government for following three years as under:-(i) 3 per cent of the tax paid on the income declared in the return for the first eligible assessment year (first eligible assessment

year means the assessment year if no return has been furnished for at least three assessment years preceding to that assessment year);

(ii) 2 per cent of the tax paid on the income declared in the return for the second eligible assessment year (second eligible assessment year means the assessment year immediately following the first eligible assessment year);

(iii) 1 per cent of the tax paid on the income declared in the return for the third eligible assessment year (third eligible assessment year means the assessment year immediately following the second eligible assessment year);

For these three eligible assessment years, the TRP will be eligible for the fee from the taxpayer to the extent of the amount by which Rs. 250/- exceeds the amount of reimbursement receivable by him from the Government.


Assessment Year

FO

RM

ITR-2 INDIAN INCOME TAX RETURN

[For Individuals and HUFs not having Income from Business or Profession] (Please see rule 12 of the Income-tax Rules,1962)

(Also see attached instructions) 2 0 0 9 - 1 0

PAN First name Middle name Last name

Status (Tick) Flat/Door/Block No Name Of Premises/Building/Village

Individual HUF Date of Birth (DD/MM/YYYY) ( in case of individual)

Road/Street/Post Office Area/locality

/ / Pin code Sex (in case of individual) (Tick) Town/City/District State

Male Female

(STD code)-Phone Number Employer Category(if in employment) (Tick)

PER

SON

AL

INFO

RM

AT

ION

Email Address

( ) Govt PSU Others Designation of Assessing Officer (Ward/Circle) Return filed under Section

[Please see instruction number-9(i)] Whether original or Revised return? (Tick) Original Revised

If revised, then enter Receipt No and Date of filing original return (DD/MM/YYYY) / /

Residential Status (Tick) Resident Non-Resident Resident but Not Ordinarily Resident Whether this return is being filed by a representative assessee? (Tick) Yes No If yes, please furnish following information - (a) Name of the representative

(b) Address of the representative

FILI

NG

ST

AT

US

( c) Permanent Account Number (PAN) of the representative

PART-B

Part B - TI Computation of total income 1 Salaries (6 of Schedule S) 1 2 Income from house property (3c of Schedule HP) (enter nil if loss) 2 3 Capital gains

a Short term i Short-term (u/s 111A) (enter nil, if loss) (A5 of Schedule CG) 3ai ii Short-term (others) (A6 of Schedule CG) 3aii

iii Total short-term (3ai + 3aii) (A4 of Schedule CG) 3aiii b Long-term (B5 of Schedule CG) (enter nil if loss) 3b

TO

TA

L IN

CO

ME

c Total capital gains (3aiii + 3b) (enter nil if 3c is a loss) 3c Do not write or stamp in this area (Space for bar code)

For Office Use Only Receipt No Date Seal and Signature of receiving official

Part A-GEN GENERAL


4 Income from other sources

a from sources other than from owning race horses (3 of Schedule OS) 4a

b from owning race horses (4c of Schedule OS) (enter nil if loss) 4b

c Total (a + b) (enter nil if 4c is a loss) 4c

5 Total (1+2+3c +4c) 5 6 Losses of current year set off against 5 (total of 2vi and 3vi of Schedule CYLA) 6 7 Balance after set off current year losses (5-6) (also total of column 4 of Schedule CYLA) 7 8 Brought forward losses set off against 7 (2vi of Schedule BFLA) 8

9 Gross Total income (7-8)(also 3vii of Schedule BFLA) 9 10 Deductions under Chapter VI-A (n of Schedule VIA) 10 11 Total income (9-10) 11 12 Net agricultural income/ any other income for rate purpose (4 of Schedule EI) 12

13 ‘Aggregate income’ (11+12) 13 14 Losses of current year to be carried forward (total of row xi of Schedule CFL) 14

Part B - TTI Computation of tax liability on total income

1 Tax payable on total income a Tax at normal rates 1a b Tax at special rates (11 of Schedule SI) 1b

c Tax Payable on Total Income (1a + 1b) 1c 2 Surcharge on 1c 2 3 Education cess, including secondary and higher education cess on (1c + 2) 3 4 Gross tax liability (1c+ 2 + 3) 4 5 Tax relief

a Section 89 5a b Section 90 5b c Section 91 5c

d Total (5a + 5b+5c) 5d 6 Net tax liability (4 – 5d) 6 7 Interest payable

a For default in furnishing the return (section 234A) 7a b For default in payment of advance tax (section 234B) 7b c For deferment of advance tax (section 234C) 7c


CO

MPU

TA

TIO

N O

F T

AX

LIA

BIL

ITY

8 Aggregate liability (6 + 7d) 8 9 Taxes Paid

a Advance Tax (from Schedule-IT) 9a b TDS (total of column 7 of Schedule-TDS1 and column 7

of Schedule-TDS2) 9b

c Self Assessment Tax(from Schedule-IT) 9c

d Total Taxes Paid (9a+9b+9c) 9d TA

XE

S PA

ID

10 Amount payable (Enter if 8 is greater than 9d, else enter 0) 10 11 Refund (If 9d is greater than 8, also give Bank Account details below) 11

12 Enter your bank account number (mandatory in case of refund) 13 Do you want your refund by cheque, or deposited directly into your bank account? (tick as applicable ) 14 Give additional details of your bank account

RE

FUN

D


VERIFICATION

I, son/ daughter of , holding permanent account number ____________ solemnly declare that to the best of my knowledge and belief, the information given in the return and schedules thereto is correct and complete and that the amount of total income and other particulars shown therein are truly stated and are in accordance with the provisions of the Income-tax Act, 1961, in respect of income chargeable to Income-tax for the previous year relevant to the Assessment Year 2009-2010.



15 If the return has been prepared by a Tax Return Preparer (TRP) give further details as below: Identification No. of TRP

Name of TRP Counter Signature of TRP

Schedule S Details of Income from Salary

PAN of Employer (optional) Name of Employer

Pin code Address of employer Town/City State

1 Salary (Excluding all allowances, perquisites & profit in lieu of salary).. 1 2 Allowances exempt under section 10 2 3 Allowances not exempt 3 4 Value of perquisites 4 5 Profits in lieu of salary 5

SAL

AR

IES

6 Income chargeable under the Head ‘Salaries’ (1+3+4+5) 6

Schedule HP Details of Income from House Property (Please refer to instructions) PIN Code

1 Address of property 1

Town/ City State

PAN of Tenant (optional) (Tick) if let out Name of Tenant

a Annual letable value/ rent received or receivable (higher if let out for whole of the year, lower if let out for part of the year) 1a

b The amount of rent which cannot be realized 1b c Tax paid to local authorities 1c d Total (1b + 1c) 1d

e Balance (1a – 1d) 1e f 30% of 1e 1f g Interest payable on borrowed capital 1g

h Total (1f + 1g) 1h

i Income from house property 1 (1e – 1h) 1i PIN Code


Town/ City State






HO

USE

PR

OPE

RT

Y

i Income from house property 2 (2e – 2h) 2i 3 Income under the head “Income from house property”

a Rent of earlier years realized under section 25A/AA 3a b Arrears of rent received during the year under section 25B after deducting 30% 3b

c Total (3a + 3b + 1i + 2i) 3c

NOTE ► Please include the income of the specified persons referred to in Schedule SPI while computing the income under this head

Schedule CG Capital Gains A Short-term capital gain

1 From assets in case of non-resident to which first proviso to section 48 is applicable 1 2 From assets in the case of others

a Full value of consideration 2a b Deductions under section 48

i Cost of acquisition bi ii Cost of Improvement bii iii Expenditure on transfer biii

CA

PIT

AL

GA

INS

iv Total ( i + ii + iii) biv


c Balance (2a – biv) 2c d Loss, if any, to be ignored under section 94(7) or

94(8) (enter positive values only) 2d

e Deduction under section 54B/54D 2e f Short-term capital gain (2c + 2d – 2e) 2f

3 Amount deemed to be short term capital gains under sections 54B/54D/54EC/ 54ED/54G/ 54GA

A3

4 Total short term capital gain (1 + 2f + A3) A4 5 Short term capital gain under section 111A included in 4 A5 6 Short term capital gain other than referred to in section 111A (A4 – A5) A6

B Long term capital gain 1 Asset in case of non-resident to which first proviso to section 48 is applicable 1 2 Asset in the case of others where proviso under section 112(1) is not applicable


i Cost of acquisition after indexation bi ii Cost of improvement after indexation bii iii Expenditure on transfer biii

iv Total (bi + bii +biii) biv c Balance (2a – biv) 2c d Deduction under sections 54/54B/54D/54EC/54F

54G/54GA 2d

e Net balance (2c – 2d) 2e 3 Asset in the case of others where proviso under section 112(1) is applicable


i Cost of acquisition without indexation bi ii Cost of improvement without indexation bii iii Expenditure on transfer biii

iv Total (bi + bii +biii) biv c Balance (3a – biv) 3c d Deduction under sections 54/54B/54D/54EC/54F 3d

e Net balance (3c-3d) 3e 4 Amount deemed to be long term capital gains under sections 54/54B/54D/54EC/54ED/54F B4

5 Total long term capital gain 1 + 2e [(enter 2e as nil if loss) + 3e (enter 3e as nil if loss) + 4)] B5 C Income chargeable under the head “CAPITAL GAINS” (A4 + B5) (enter B5 as nil, if loss) C D Information about accrual/receipt of capital gain

Date

Upto 15/9 (i)

16/9 to 15/12 (ii)

16/12 to 15/3 (iii)

16/3 to 31/3 (iv)

1 Long- term

2 Short-term NOTE ► Please include the income of the specified persons referred to in Schedule SPI while computing the income under this head

Schedule OS Income from other sources

1 Income a Dividends, Gross 1a b Interest, Gross 1b c Rental income from machinery, plants, buildings, 1c

d Others, Gross (excluding income from owning race horses) 1d

e Total (1a + 1b + 1c + 1d) 1e f Deductions under section 57:-

i Expenses fi ii Depreciation fii iii Total fiii

g Balance (1e – fiii) 1g 2 Winnings from lotteries, crossword puzzles, races, etc. 2 3 Income from other sources (other than from owning race horses) (1g + 2) (enter1g as nil, if loss) 3

4 Income from owning and maintaining race horses a Receipts 4a b Deductions under section 57 in relation to (4) 4b

c Balance (4a – 4b) 4c

OTH

ER

SO

UR

CES

5 Income chargeable under the head “Income from other sources” (3 + 4c) (enter 4c as nil if loss and take 4c loss figure to Schedule CFL) 5

NOTE ► Please include the income of the specified persons referred to in Schedule SPI while computing the income under this head.


Schedule CYLA Details of Income after Set off of current year losses House property loss of the current year set off

Other sources loss (other than loss from race horses) of the current year set off

Income of current year (Fill this column only if income is zero or positive)

Total loss (3c of Schedule –HP) Total loss (3 of Schedule-OS)

Current year’s Income remaining after set off

Head/ Source of Income

1 2 3 4=1-2-3

Sl.No

Loss to be adjusted

i Salaries

ii House property

iii Short-term capital gain

iv Long term capital gain

v Other sources (incl. profit from owning race horses)

vi Total loss set off

CU

RR

ENT

YEA

R L

OSS

AD

JUST

ME

NT

vii Loss remaining after set-off out of 2 & 3

Schedule BFLA Details of Income after Set off of Brought Forward Losses of earlier years

Income after set off, if any, of current year’s losses as per 4 of

Schedule CYLA

Brought forward loss set off Current year’s income remaining after set off

Sl. No.


1 2 3

i Salaries

ii House property

iii Short-term capital gain iv Long-term capital gain

v Other sources (profit from owning race horses)

vi Total of brought forward loss set off BR

OU

GH

T FO

RW

AR

D L

OSS

A

DJU

STM

EN

T

vii Current year’s income remaining after set off Total (i3 + ii3 + iii3 + iv3 + v3)

Schedule CFL Details of Losses to be carried forward to future years

Assessment Year Date of Filing (DD/MM/YYYY)

House property loss

Short-term capital loss

Long-term Capital loss

Other sources loss (from owning race

horses) i 2001-02

ii 2002-03

iii 2003-04

iv 2004-05

v 2005-06

vi 2006-07

vii 2007-08

viii 2008-09

ix Total of earlier year losses

x Adjustment of above losses in Schedule BFLA

xi 2009-10 (Current year losses)

CA

RR

Y F

OR

WA

RD

OF

LOSS

xii Total loss Carried Forward to future years

Schedule VIA Deductions under Chapter VI-A (Section)

a 80C h 80G b 80CCC i 80GG c 80CCD j 80GGA d 80D k 80GGC e 80DD l 80RRB f 80DDB m 80U g 80E

TO

TAL

DE

DU

CT

ION

S

n Total deductions (total of a to m) n


Schedule SPI Income of specified persons (spouse, minor child etc) includable in income of the assessee (income of the minor child to be included after Rs. 1,500 per child)

Sl No Name of person PAN of person (optional) Relationship Nature of Income Amount (Rs) 1 2 3

Schedule SI Income chargeable to Income tax at special rates [Please see instruction No.9(iii) for section code and rate of tax]

Sl No

Section code

Special rate (%)

Income i

Tax thereon ii

Sl No

Section code

Special rate (%)

Income i

Tax thereon ii

1 6 2 7 3 8 4 9 5 10 SP

EC

IAL

RA

TE

11 Total (1ii to 10 ii)

Schedule EI Details of Exempt Income (Income not to be included in Total Income)

1 Interest income 1 2 Dividend income 2 3 Long-term capital gains from transactions on which Securities Transaction Tax is paid 3 4 Net Agriculture income /any other income for rate purpose 4 5 Others, including exempt income of minor children 5 E

XE

MPT

IN

CO

ME

6 Total (1+2+3+4+5) 6

Schedule AIR Other Information (transactions reported through Annual Information Return) [Please see instruction number-9(ii) for code] Sl Code of Transaction Amount (Rs) Sl Code of Transaction Amount (Rs)

1 001 5 005

2 002 6 006

3 003 7 007

4 004 8 008

Schedule IT Details of Advance Tax and Self Assessment Tax Payments of Income-tax Sl No



Amount (Rs)

i ii iii iv v T

AX

PA

YM

EN

TS

NOTE ► Enter the totals of Advance tax and Self Assessment tax in Sl No. 9a & 9c of PartB-TTI

Schedule TDS1 Details of Tax Deducted at Source from Salary [As per Form 16 issued by Employer(s)] Sl No

Tax Deduction Account Number (TAN) of the

Employer

Unique Transaction

Number (UTN)


Income chargeable

under Salaries

Deduction under

Chapter VI-A

Tax payable (incl. surch.

and edn. cess)

Total tax deducted


(1) (2) (9) (3) (4) (5) (6) (7) (8) i

TD

S O

N S

AL

AR

Y

ii

Schedule TDS2 Details of Tax Deducted at Source on Income [As per Form 16 A issued by Deductor(s)]

Sl No


Deductor

Unique Transaction

Number (UTN)


Amount Paid Date of Payment / Credit

Total tax deducted

Amount out of (6) claimed for

this year

(1) (2) (8) (3) (4) (5) (6) (7) i

ii

TD

S O

N O

TH

ER

INC

OM

E

NOTE ► Please enter total of column 7 of Schedule-TDS1 and column 7 of Schedule-TDS2 in 9(b) of Part B-TTI simpletaxindia.blogspot.com

Instructions for filling out FORM ITR-2

1. Legal status of instructions These instructions though stated to be non-statutory, may be taken as guidelines for filling the particulars in this Form. In case of any

doubt, please refer to relevant provisions of the Income-tax Act, 1961 and the Income-tax Rules, 1962. 2. Assessment Year for which this Form is applicable This Form is applicable for assessment year 2009-2010 only. 3. Who can use this Form This Form can be used by an individual or a Hindu Undivided family whose total income does not include any income chargeable to

income-tax under the head “Profits or gains of business or profession”. It may please be noted that a person who is entitled to use Form ITR-1 shall not use this form. Further, a person who is partner in a firm is required to use Form ITR-3. In case a partner in the firm does not have any income from the firm by way of interest, salary, etc. and has only exempt income by way of share in the profit of the firm shall not use Form ITR-2.

4. Annexure-less Form No document (including TDS certificate) should be attached to this form. Official receiving the return has been instructed to

detach all documents enclosed with this form and return the same to the assessee. 5. Manner of filing this Form

This Form can be submitted to the Income Tax Department in any of the following manners, - (i) by furnishing the return in a paper form; (ii) by furnishing the return electronically under digital signature; (iii) by transmitting the data in the return electronically and thereafter submitting the verification of the return in Form ITR-V; (iv) by furnishing a bar-coded paper return.


6. Filling out the acknowledgement Where the form is furnished in the manner mentioned at 5(i) or 5(iv), acknowledgement slip attached with this Form should be duly filled out.

7. Form not to be filled in duplicate This form is not required to be filed in duplicate.

8. Intimation of processing under section 143(1) The acknowledgement of the return is deemed to be the intimation of processing under section 143(1). No separate intimation will be sent to the taxpayer unless there is a demand or refund.

9. Codes for filling out this Form Some of the details in this form have to be filled out on the basis of the relevant codes. These are as under:-

(i) The code (to be filled in the section “Filing Status” on first page) for sections under which the return is filed are as under:- Sl.No. How the return is filed Code i. Voluntarily before the due date 11 ii. Voluntarily after the due date 12 iii. In response to notice under section 142(1) 13 iv. In response to notice under section 148 14 v. In response to notice under section 153A/ 153C 15

(ii) In Schedule AIR, the details of following transactions, if any, entered by you during the financial year 2008-09 are to be entered. (If a transaction is not entered, please leave blank the relevant column in this item).

Sl.No. Code Nature of transaction 1. 001 Cash deposits aggregating to ten lakh rupees or more in a year in any savings account by you

maintained in a banking company to which the Banking Regulation Act, 1949 (10 of 1949), applied (including any bank or banking institution referred to in section 51 of that Act)


3. 003 Payment made by you of an amount of two lakh rupees or more for purchase of units of Mutual Fund.

4. 004 Payment made by you of an amount of five lakh rupees or more for acquiring bonds or debentures issued by a company or institution.

5. 005 Payment made by you of an amount of one lakh rupees or more for acquiring shares issued by a company.

6. 006 Purchase by you of any immovable property valued at thirty lakh rupees or more. 7. 007 Sale by you of any immovable property valued at thirty lakh rupees or more. 8. 008 Payment made by you of an amount of five lakh rupees or more in a year for investment in

bonds issued by Reserve Bank of India. (iii) In Schedule SI, the codes for the sections which prescribed special rates of tax for the income mentioned therein are as

under:- Sl. No. Nature of income Section Rate of tax Section

code 1. Tax on accumulated balance of recognised

provident fund 111 To be computed in

accordance with rule 9(1) of Part A of fourth Schedule

1

2. Short term capital gains 111A 15 1A 3. Long term capital gains (with indexing) 112 20 21 4. Long term capital gains (without indexing) 112 10 22


5. Dividends, interest and income from units purchase in foreign currency

115A(1)(a) 20 5A1a

6. Income from royalty or technical services where agreement entered between 31.3.1961 to 31.3.1976 in case of royalty and between 29.2.1964 and 31.3.1976, and agreement is approved by the Central Government.

Paragraph EII of Part I of first schedule of Finance Act

50 FA

7. Income from royalty & technical services 115A(1)(b) if agreement is entered on or before 31.5.1997

30 5A1b1

8. Income from royalty & technical services 115A(1)(b) if agreement is entered on or after 31.5.1997 but before 1.6.2005

20 5A1b2

9. Income from royalty & technical services 115A(1)(b)if agreement is on or after 1.6.2005

10 5A1b3

10. Income received in respect of units purchase in foreign currency by a off-shore fund

115AB(1)(a) 10 5AB1a

11. Income by way of long-term capital gains arising from the transfer of units purchase in foreign currency by a off-shore fund

115AB(1)(b) 10 5AB1b

12. Income from bonds or GDR purchases in foreign currency or capital gains arising from their transfer in case of a non-resident

115AC(1) 10 5AC

13. Income from GDR purchased in foreign currency or capital gains arising from their transfer in case of a resident

115ACA(1) 10 5ACA

14. Profits and gains of life insurance business 115B 12.5 5B 15. Winnings from lotteries, crosswords puzzles, races

including horse races, card games and other games of any sort or gambling or betting of any form or nature whatsoever

115BB 30 5BB

16. Tax on non-residents sportsmen or sports associations

115BBA 10 5BBA

17. Tax on income from units of an open – ended equity oriented fund of the Unit Trust of India or of Mutual Funds

115BBB 10 5BBB

18. Anonymous donations 115BBC 30 5BBC 19. Investment income 115E(a) 20 5Ea 20. Income by way of long term capital gains 115E(b) 10 5Eb 21. Double Taxation Agreement DTAA

10. SCHEME OF THE LAW- Before filling out the form, you are advised to read the following-

(1) Computation of total income

(a) “Previous year” is the financial year (1st April to the following 31st March) during which the income in question has been earned. “Assessment Year” is the financial year immediately following the previous year.

(b) Total income is to be computed as follows, in the following order: (i) Classify all items of income under the following heads of income- (A) Salaries; (B) “Income from house property”; (C) “Capital gains”; and (D) “Income from other

sources”. (There may be no income under one or more of these heads of income). (ii) Compute taxable income of the current year (i.e., the previous year) under each head of income

separately in the Schedules which have been structured so as to help you in making these computations as per provisions of the Income-tax Act. These statutory provisions decide what is to be included in your income, what you can claim as an expenditure or allowance and how much, and also what you cannot claim as an expenditure/allowance.

(iii) Set off current year’s headwise loss(es) against current year’s headwise income(s) as per procedures prescribed by the law. A separate Schedule is provided for such set-off.

(iv) Set off, as per procedures prescribed by the law, loss(es) and/or allowance(s) of earlier assessment year(s) brought forward. Also, compute loss(es) and/or allowance(s) that could be set off in future and is (are) to be carried forward as per procedures prescribed by the law. Separate Schedules are provided for this.

(v) Aggregate the headwise end-results as available after (iv) above; this will give you “gross total income”. (vi) From gross total income, subtract, as per procedures prescribed by the law, “deductions” mentioned in

Chapter VIA of the Income-tax Act. The result will be the total income. Besides, calculate agricultural income for rate purposes.

(2) Computation of income-tax, surcharge, education cess including secondary and higher education cess and interest in respect of

income chargeable to tax (a) Compute income-tax payable on the total income. Special rates of tax are applicable to some specified items.

Include agricultural income, as prescribed, for rate purposes, in the tax computation procedure.. simpletaxindia.blogspot.com

(b) Add surcharge as prescribed by the law on the above tax payable. (c) Add Education cess including secondary and higher education cess as prescribed on the tax payable plus surcharge. (d) Claim relief(s) as prescribed by the law, on account of arrears or advances of salary received during the year or of

double taxation and calculate balance tax and surcharge payable. (e) Add interest payable as prescribed by the law to reach total tax, surcharge and interest payable. (f) Deduct the amount of prepaid taxes, if any, like “tax deducted at source”, “advance-tax” and “self-assessment-

tax”. The result will be the tax payable (or refundable). (3) Obligation to file return

(a) Every individual and HUF has to furnish the return of his income if his total income before allowing deduction under Chapter VI-A (i.e., if his gross total income referred to in item 9 of Part B-TI of this Form) exceeds the maximum amount which is not chargeable to income tax [Rs. 1,50,000/- in case of individuals below the age of 65 years (other than women) and HUF, Rs. 1,80,000/- in case of women below the age of 65 years, and Rs. 2,25,000/- in case of individuals who are of the age of 65 years or more at any time during the financial year 2008-09] .

(b) The losses, if any, (item-14 of Part B-TI of this Form) shall not be allowed to be carried forward unless the return has been filed on or before the due date.

11. SCHEME OF THE FORM The Scheme of this form follows the scheme of the law as outlined above in its basic form. The Form has been divided into two parts. It also has fifteen work tables (referred to as “schedules”). The parts and the schedules are described below:-

(i) The first part, i.e., Part-A is spread over half of the first page of the return. It mainly seeks general information requiring identificatory and other data.

(ii) The second part, i.e, Part-B on page 1 and page 2 is regarding an outline of the total income and tax computation in respect of income chargeable to tax.

(iii) on page 2, there is a space for furnishing details of the transmission of the data of the form if the form has been furnished in the manner mentioned at instruction No.5(iii).

(iv) After Part-B, on page 2, there is a space for a statutory verification., (v) On top of page 3, there are details to be filled if the return has been prepared by a Tax Return Preparer. (vi) On pages 3 to 6, there are 15 Schedules details of which are as under-

(a) Schedule-S: Computation of income under the head Salaries. (b) Schedule-HP: Computation of income under the head Income from House Property (c) Schedule-CG:. Computation of income under the head Capital gains. (d) Schedule-OS: Computation of income under the head Income from other sources. (e) Schedule-CYLA: Statement of income after set off of current year’s losses (f) Schedule-BFLA: Statement of income after set off of unabsorbed loss brought forward from earlier years. (g) Schedule- CFL: Statement of losses to be carried forward to future years. (h) Schedule-VIA: Statement of deductions (from total income) under Chapter VIA. (i) Schedule SPI: Statement of income arising to spouse/ minor child/ son’s wife or any other person or

association of persons to be included in the income of assessee in Schedules-HP, CG and OS. (j) Schedule-SI: Statement of income which is chargeable to tax at special rates (k) Schedule-EI: Statement of Income not included in total income (exempt incomes) (l) Schedule-AIR: Information regarding transactions which are reported through Annual Information Return

under section 285BA. (m) Schedule-IT: Statement of payment of advance-tax and tax on self-assessment. (n) Schedule-TDS1: Statement of tax deducted at source on salary. (o) Schedule-TDS2: Statement of tax deducted at source on income other than salary. (p)

12. GUIDANCE FOR FILLING OUT PARTS AND SCHEDULES (1) General

(i) All items must be filled in the manner indicated therein; otherwise the return maybe liable to be held defective or even invalid.

(ii) If any schedule is not applicable score across as “---NA---“. (iii) If any item is inapplicable, write “NA” against that item. (iv) Write “Nil” to denote nil figures. (v) Except as provided in the form, for a negative figure/ figure of loss, write “-” before such figure. (vi) All figures should be rounded off to the nearest one rupee. However, the figures for total income/ loss and tax payable

be finally rounded off to the nearest multiple of ten rupees. (2) Sequence for filling out parts and schedules You are advised to follow the following sequence while filling out the form;

(i) Part A- General on page 1. (ii) Schedules (iii) Part B-TI and Part B-TTI (iv) Verification (v) Details relating to TRP and counter signature of TRP if return is prepared by him.

13. PART-GEN

Most of the details to be filled out in Part-Gen of this form are self-explanatory. However, some of the details mentioned below are to be filled out as explained hereunder:-

(a) e-mail address and phone number are optional; (b) In case of an individual, for “employer category”, Government category will include Central Government/ State

Governments employees. PSU category will include public sector companies of Central Government and State Government;

(c) The code for sections under which the return is filed be filled as per code given in instruction No.9(i). simpletaxindia.blogspot.com

(d) In case the return is being filed by you in a representative capacity, please ensure to quote your PAN in item “PAN of the representative assessee”. In case the PAN of the person being represented is not known or he has not got a PAN in India, the item for PAN in the first line of the return may be left blank. It may please be noted that in the first line of this form, the name of the person being represented be filled.

14. SCHEDULES (a) Schedule-S- In case there were more than one employer during the year, please give the details of the last

employer. Further, in case, there were more than one employer simultaneously during the year, please furnish the details of the employer you have got more salary. Fill the details of salary as given in TDS certificate(s) (Form 16) issued by the employer(s). However, if the income has not been computed correctly in Form No. 16, please make the correct computation and fill the same in this item. Further, in case there was more than one employer during the year, please furnish in this item the details in respect of total salaries from various employers.

(b) Schedule-HP,- In case, a single house property is owned by the assessee which is self-occupied and interest paid on the loan taken for the house property is to be claimed as a deduction. This schedule needs to be filled up. If there are two or more than two house properties, the details of remaining properties may be filled in a separate sheet in the format of this Schedule and attach this sheet with this return. The results of all the properties have to be filled in last row of this Schedule. Following points also need to be clarified,-

(i) Annual letable value means the amount for which the house property may reasonably be expected to let from year to year, on a notional basis: Deduction for taxes paid to local authority shall be available only if the property is in the occupation of a tenant, and such taxes are borne by the assessee and not by the tenant and have actually been paid during the year.

(ii) Deduction is available for unrealized rent in the case of a let-out property. If such a deduction has been taken in an earlier assessment year, and such unrealized rent is actually received in the assessment year in question, the unrealized rent so received is to be shown in item 3a of this Schedule.

(iii) Item 3b of this Schedule relates to enhancement of rent with retrospective effect. Here mention back years’ extra rent received thereon, and claim deduction @ 30% of such arrear rent received.

(c) Schedule-CG,- If more than one short-term capital asset has been transferred, make the combined computation for all the assets. Similarly, make the combined computation for all the assets if more than one long-term capital asset has been transferred.

(ii) For computing long-term capital gain, cost of acquisition and cost of improvement may be indexed, if required, on the basis of following cost inflation index notified by the Central Government for this purpose.

Sl.No. Financial Year Cost Inflation

Index Sl.No. Financial Year Cost Inflation Index

1. 1981-82 100 15. 1995-96 281 2. 1982-83 109 16. 1996-97 305 3. 1983-84 116 17. 1997-98 331 4. 1984-85 125 18. 1998-99 351 5. 1985-86 133 19. 1999-00 389 6. 1986-87 140 20. 2000-01 406 7. 1987-88 150 21. 2001-02 426 8. 1988-89 161 22. 2002-03 447 9. 1989-90 172 23. 2003-04 463 10. 1990-91 182 24. 2004-05 480 11. 1991-92 199 25. 2005-06 497 12. 1992-93 223 26. 2006-07 519 13. 1993-94 244 27. 2007-08 551 14. 1994-95 259 28. 2008-09 582

(iii) Sections 54/ 54B/ 54D/ 54EC/ 54F mentioned in this schedule provides exemption on capital gains subject to fulfillment of certain conditions. Exemption under some of these sections is available only in respect of long-term capital gains. Therefore, please ensure that you are claiming the benefit of any of these sections correctly in accordance with the provisions of law.

(iv) Item C of this Schedule computes the total of short-term capital gain and long-term capital gain (item A4 + item B5). Please note that if balance in item B5 in respect of long-term capital gain is a loss, same shall not be set-off against short-term capital gain. In such situation, the figure of B5 would be entered as 0 and then the figures of item A4 be added in item C.

(d) Schedule-OS,- (i) Against item 1a and 1b, enter the details of gross income by way of dividend and interest which is not

exempt. (ii) Against item 1c, indicate the gross income from machinery, plant or furniture let on hire and also such

income from building where its letting is inseparable from the letting of the said machinery, plant or furniture, if it is not chargeable to income-tax under the head “Profits and gains of business or profession”.

(iii) Income from owning and maintaining race horses is to be computed separately as loss from owning and maintaining race horses cannot be adjusted against income from any other source, and can only be carried forward for set off against similar income in subsequent years.

(iv) Winnings from lotteries, crossword puzzles, races, etc., are subject to special rates of tax; hence a separate item is provided and the income from these can not be adjusted against the losses arising under the head Income from other sources.

(v) Item 5 of this Schedule computes the total income chargeable under the head “Income from other sources” (item 3 + item 4c). If balance in item 4c which shows income from owning and maintaining race horses is a loss, please enter 0 and enter the total of item 3.


(e) Schedule-SPI,- (i) Furnish the details of income of spouse, minor child, etc., if to be included in your income in accordance

with provisions of Chapter V of the Income-tax Act. (ii) The income entered into this Schedule has to be included in the respective head. (iii) Section 10(32) provides exemption to extent of Rs. 1,500/- in respect of minor’s income for the purpose of

clubbing. Therefore, exclude Rs. 1,500/- from the income of the minor while clubbing the income of the minor in the respective head. However, if income of the minor is to be clubbed in various heads, total exclusion should not exceed Rs. 1,500/-.

(f) Schedule-CYLA,- (i) Mention only positive incomes of the current year in column 1, headwise, in the relevant rows. (ii) Mention total current year’s loss(es), if any, from house property and other sources (other than losses from

race horses) in the first row against ‘loss to be adjusted’. These losses are to be set off against income under other heads in accordance with the provisions of section 71. The amount set off against the income of respective heads has to be entered into in columns 2 and 3, in the relevant rows.

(iii) Mention the end-result of the above inter-head set-off(s) in column 4, headwise, in relevant rows. (iv) Total of loss set off out of column 2 and column 3 have to be entered into row vi. (v) The losses remaining for set off have to be entered in row vii.

(g) Schedule-BFLA,- (i) Mention only positive incomes of the current year (after set-off of loss in Schedule-CYLA in column 1,

headwise in relevant rows. (ii) The amount of brought forward losses which may be set off are to be entered in column 2 in respective

rows except under the head ‘Salary’ where no loss could be brought forward. (iii) The end result of the set off will be entered in column 3 in respective heads. The total of column 3 shall be

entered in row vii which shall give the amount of gross total income. (iv) The total amount of brought forward losses set off during the year shall be entered in column 2 of row vi.

(h) Schedule-CFL,- (i) In this Schedule, the summary of losses carried from earlier years, set off during the year and to be carried

forward for set off against income of future years is to be entered. (ii) The losses under the head “house property”, short term capital loss and long term capital loss, losses from

other sources (other than losses from race horses) are allowed to be carried forward for 8 years. However, loss from owning and maintaining race horses can be carried forward only for 4 assessment years.

(i) Schedule-VIA,- The total of the deductions allowable is limited to the amount of gross total income. For details of deductions allowable, the provisions of the Chapter VI-A may kindly be referred to. Details of deductions which are available to an individual/ HUF not carrying out any business or profession are as under:- (i) Section 80C (Some of the major items for deduction under this section are- amount paid or deposited

towards life insurance, contribution to Provident Fund set up by the Government, recognised Provident Fund, contribution by the assessee to an approved superannuation fund, subscription to National Savings Certificates, tuition fees, payment/ repayment for purposes of purchase or construction of a residential house and many other investments)(for full list, please refer to section 80C of the Income-tax Act) (Please note that as provided in section 80CCE, aggregate amount of deduction under section 80C, 80CCC and 80CCD shall not exceed one lakh rupees).

(ii) Section 80CCC (Deduction in respect of contributions to certain pension funds). (iii) Section 80CCD (Deduction in respect of contributions to pension scheme of Central Government) (iv) Section 80D (Deduction in respect of Medical Insurance Premium) (v) Section 80DD (Deduction in respect of maintenance including medical treatment of dependent who is a

person with disability) (vi) Section 80DDB (Deduction in respect of medical treatment, etc.) (vii) Section 80E (Deduction in respect of interest on loan taken for higher education) (viii) Section 80G (Deduction in respect of donations to certain funds, charitable institutions, etc.) (ix) Section 80GG (Deduction in respect of rents paid) (x) Section 80GGA (Deduction in respect of certain donations for scientific research or rural development) (xi) Section 80GGC (Deduction in respect of contributions given by any person to political parties) (xii) Section 80RRB (Deduction in respect of royalty on patents) (xiii) Section 80U (Deduction in case of a person with disability)

(j) Schedule-SI,- Mention the income included in Schedule-CG and Schedule-OS which is chargeable to tax at special rates. The codes

for relevant section and special rate of taxes are given in Instruction No.9(iii) (k) Schedule-EI,-

(i) Furnish the details of income like agriculture income, interest, dividend, etc. which is exempt from tax. (ii) The details may be filled on cash basis unless there is any provision/ requirement to declare them on accrual

basis. (l) Schedule-AIR,-

In this Schedule, please fill out the details as explained in Instruction No.9(ii) (m) Schedule-IT,-

(i) In this schedule, fill out the details of payment of advance income-tax and income-tax on self-assessment. (ii) The details of BSR Code of the bank branch (7 digits), date of deposit, challan serial no., and amount paid

should be filled out from the acknowledgement counterfoil. (n) Schedules-TDS1 and TDS2,-

(i) In these Schedules fill the details of tax deducted on the basis of TDS certificates( Form 16 or Form No.16A) issued by the deductor(s).

(ii) Details of each certificate are to be filled separately in the rows. In case rows provided in these Schedules are not sufficient, please attach a table in same format.

(iii) It may please be noted that the TDS certificates are not to be annexed with the Return Form. simpletaxindia.blogspot.com

(iv) In order to enable the Income Tax Department to provide accurate, quicker and full credit for taxes deducted at source, the taxpayer must ensure to quote the Unique Transaction Number (UTN) in respect of every TDS transaction. In general the UTN would be printed on the TDS certificate issued by the deductor. However, in case it is not available on the certificate, the taxpayer should separately obtain the UTN either from the deductor or from the website of National Securities Depository Limited (NSDL) at http://www.tin-nsdl.com .

15. PART B-TI-COMPUTATION OF TOTAL INCOME

(i) In this part the summary of income computed under various heads and as set off in Schedule CFLA and Schedule BFLA is to be entered.

(ii) Every entry which have to be filled on basis of Schedules have been crossed referenced and hence doesn’t need any further clarification.

16. PART B-TI-COMPUTATION OF TAX LIABILITY ON TOTAL INCOME

(a) in item 1a, fill the details of gross tax liability to be computed at the applicable rate. The tax liability has to be computed at the rates given as under:-

(i) In case of individuals (other than women and individuals who are of the age of 65 years or more at any time during the financial year 2008-09) -

Income (In Rs.) Tax Liability (In Rs.) Upto Rs. 1,50,000 Nil Between Rs. 1,50,001 - Rs. 3,00,000 10% of income in excess of Rs. 1,50,000 Between Rs. 3,00,001 – Rs. 5,00,000 Rs. 15,000 + 20% of income in excess of Rs. 3,00,000 Above Rs.5,00,000 Rs. 55,000 + 30% of income in excess of Rs. 5,00,000



(iii) In case of individuals who are of the age of 65 years or more at any time during the financial year 2008-09-

Income (In Rs.) Tax Liability (In Rs.) Upto Rs. 2,25,000 Nil Between Rs. 2,25,001 – Rs. 3,00,000 10% of income in excess of Rs. 2,25,000 Between Rs. 3,00,001 – Rs. 5,00,000 Rs. 7,500 + 20% of income in excess of Rs. 3,00,000 Above Rs.5,00,000 Rs. 47,500 + 30% of income in excess of Rs. 5,00,000

(b) In item 2, fill the details of surcharge at the rate of ten per cent of item No.1c, if the total income as per item No.11 of Part-B-TI exceeds ten lakh rupees. However, such surcharge shall not exceed the amount being the difference of total income and ten lakh rupees.

(c) In item No. 3, calculate the education cess including secondary and higher education cess at the rate of three per cent of [item No.1c + item No. 2]

(d) In item No. 5a, claim the relief if any allowable under section 89 in respect of arrears or advances of salary received during the year.

(e) In item 9b, please furnish the details in accordance with Form 16 issued by the employer(s) in respect of salary income and Form 16A issued by any other person in respect of interest income.

(f) item 14- Please quote the MICR code of the bank if you desire to receive the refund through electronic clearing system (ECS). However, it may not be possible to issue the refund in all cases through ECS since the ECS facility is not available across the country.

17. VERIFICATION

(a) In case the return is to be furnished in a paper format or electronically under digital signature or in a bar coded return format, please fill up the required information in the Verification. Strike out whatever is not applicable. Please ensure that the verification has been signed before furnishing the return. Write the designation of the person signing the return.

(b) In case the return is to be furnished electronically in the manner mentioned in instruction no. 5(iii), please fill verification form (Form ITR-V)

(c) Please note that any person making a false statement in the return or the accompanying schedules shall be liable to be prosecuted under section 277 of the Income-tax Act, 1961 and on conviction be punishable under that section with rigorous imprisonment and with fine.

18. DETAILS REGARDING TAX RETURN PREPARER (TRP)

(a) This return can be prepared by a Tax Return Preparer (TRP) also in accordance with the Tax Return Preparer Scheme, 2006 dated 28th November, 2006.

(b) If the return has been prepared by him, the relevant details have to be filled by him in item No.16 below verification and the return has to be countersigned by him in the space provided in the said item.

(c) The Tax Return Preparer is entitled to a maximum fees of Rs. 250/- from the taxpayer. TRP is also entitled to a reimbursement from the Government for following three years as under:-

(i) 3 per cent of the tax paid on the income declared in the return for the first eligible assessment year (first eligible assessment year means the assessment year if no return has been furnished for at least three assessment years preceding to that assessment year);




(d) For these three eligible assessment years, the TRP will be eligible for the fee from the taxpayer to the extent of the amount by which Rs. 250/- exceeds the amount of reimbursement receivable by him from the Government.


Assessment Year

FOR

M


[For Individuals/HUFs being partners in firms and not carrying out business or profession under any proprietorship] (Please see rule 12 of the Income-tax Rules,1962)







Male Female

(STD code)-Phone Number Employer Category(if in employment) (Tick)

PER

SON

AL

INFO

RM

AT

ION

Email Address


[Please see instruction number-9(i)] Whether original or Revised return? (Tick) Original Revised




FIL

ING

STA

TU

S

(c) Permanent Account Number (PAN) of the representative

PART-B Part B - TI Computation of total income

1 Salaries (6 of Schedule S) 1 2 Income from house property (3c of Schedule HP) (enter nil if loss) 2 3 Profits and gains from business or profession (6vi of Schedule BP) (enter nil if loss) 3 4 Capital gains

a Short term i Short-term (u/s 111A) (enter nil, if loss) (A5 of Schedule CG) 4ai ii Short-term (others) (A6 of Schedule CG) 4aii

iii Total short-term (4ai + 4aii) (enter nil if loss) (A4 of Schedule CG)

4aiii

b Long-term (B5 of Schedule CG) (enter nil if loss) 4b

TO

TAL

INC

OM

E

c Total capital gains (4aiii + 4b) (enter nil if 4c is a loss) 4c Do not write or stamp in this area (Space for bar code)


Part A-GEN GENERAL



a from sources other than from owning race horses (3 of Schedule OS) (enter nil if loss)

5a

b from owning race horses (4c of Schedule OS) (enter nil if loss) 5b

c Total (5a + 5b) (enter nil if 5c is a loss) 5c 6 Total (1+2+3+4c+5c) 6 7 Losses of current year set off against 6 (total of 2vii,3vii and 4vii of Schedule CYLA) 7 8 Balance after set off current year losses (6-7) (also total of column 5 of Schedule CYLA) 8 9 Brought forward losses set off against 8 (2vii of Schedule BFLA) 9 10 Gross Total income (8-9)(also 3viii of Schedule BFLA) 10 11 Deductions under Chapter VI-A (o of Schedule VIA) 11 12 Total income (10 – 11) 12 13 Net agricultural income/ any other income for rate purpose (4 of Schedule EI) 13 14 ‘Aggregate income’ (12+ 13) 14

15 Losses of current year to be carried forward (xi of Schedule CFL) 15


1 Tax payable on total income a Tax at normal rates 1a b Tax at special rates (11 of Schedule SI) 1b

c Tax Payable on Total Income (1a + 1b) 1c 2 Surcharge on 1c 2 3 Education cess, including secondary and higher education cess on (1c + 2) 3 4 Gross tax liability (1c+ 2 + 3) 4 5 Tax relief


d Total (5a + 5b+5c) 5d 6 Net tax liability (4 – 5d) 6 7 Interest payable



CO

MPU

TA

TIO

N O

F T

AX

LIA

BIL

ITY


a Advance Tax (from Schedule-IT) 9a

b TDS (total of column 7 of Schedule-TDS1 and column 7 of Schedule-TDS2)

9b

c Self Assessment Tax(from Schedule-IT) 9c

d Total Taxes Paid (9a+9b+9c) 9d TA

XE

S PA

ID

10 Amount payable (Enter if 8 is greater than 9d, else enter 0) 10 11 Refund (If 9d is greater than 8, also give Bank Account details below) 11


R

EFU

ND


VERIFICATION I, son/ daughter of , holding permanent account number ____________ solemnly declare that to the best of my knowledge and belief, the information given in the return and schedules thereto is correct and complete and that the amount of total income and other particulars shown therein are truly stated and are in accordance with the provisions of the Income-tax Act, 1961, in respect of income chargeable to Income-tax for the previous year relevant to the Assessment Year 2009-2010.



15 If the return has been prepared by a Tax Return Preparer (TRP) give further details below: Identification No. of TRP


If TRP is entitled for any reimbursement from the Government, amount thereof 16

Schedule S Details of Income from Salary PAN of Employer (optional) Name of Employer


1 Salary (Excluding all allowances, perquisites & profit in lieu of salary) 1 2 Allowances exempt under section 10 2 3 Allowances not exempt 3 4 Value of perquisites 4 5 Profits in lieu of salary 5

SAL

AR

IES




Town/ City State

PAN of Tenant (optional) (Tick) if let out

Name of Tenant







Town/ City State

PAN of Tenant (optional) (Tick) if let out

Name of Tenant





HO

USE

PR

OPE

RT

Y



c Total (3a + 3b + 1i + 2i) 3c



Schedule IF Information regarding partnership firms in which you are partner Number of firms in which you are partner

Amount of share in the profit

Capital balance on 31st

March in the firm

Sl. No.

Name of the Firm PAN of the firm Percentage Share in the profit of the firm

i ii 1 2 3 4 5

FIR

MS

IN W

HIC

H P

AR

TN

ER

6 Total

Schedule BP Details of Income from Firms of which partner Firm PAN

(From Schedule-IF)

Salary, bonus, commission or

remuneration received from the firm

Interest received from the firm on the

capital

Total ii + iii

Expenses in relation

to iv

Net Income iv - v

Sl. No.

ii iii iv v vi 1 2 3 4 5 IN

CO

ME

FR

OM

FIR

MS

6 Total NOTE ► Please include the income of the specified persons referred to in Schedule SPI while computing the income under this head


1 From assets in case of non-resident to which first proviso to section 48 is applicable 1 2 From assets in the case of others

a Full value of consideration 2a b Deduction under section 48


iv Total ( i + ii + iii) biv c Balance (2a – biv) 2c d Loss, if any, to be ignored under section 94(7) or


e Deduction under section 54B/54D 2e

f Short-term capital gain (2c + 2d – 2e) 2f 3 Amount deemed to be short term capital gains under sections 54B/54D/54EC/ 54ED/54G/

54GA A3

4 Total short term capital gain (1 + 2f + A3) A4 5 Short term capital gain under section 111A included in 4 A5

6 Short term capital gain other than referred to in section 111A (A4 – A5) A6 B Long term capital gain

1 Asset in case of non-resident to which first proviso to section 48 is applicable 1 2 Asset in the case of others where proviso under section 112(1) not applicable



iv Total (bi + bii +biii) biv c Balance (2a – biv) 2c d Deduction under sections 54/54B/54D/54EC/54F

54G/54GA 2d

e Net balance (2c – 2d) 2e 3 Asset in the case of others where proviso under section 112(1) is applicable


CA

PIT

AL

GA

INS

i Cost of acquisition without indexation bi


ii Cost of improvement without indexation bii iii Expenditure on transfer biii

iv Total (bi + bii +biii) biv c Balance (3a – biv) 3c d Deduction under sections 54/54B/54D/54EC/54F 3d

e Net balance (3c – 3d) 3e 4 Amount deemed to be long term capital gains under sections 54/54B/54D/54EC/54ED/54F B4

5 Total long term capital gain (1 + 2e [(enter 2e as nil if loss) + 3e (enter 3e as nil if loss) + 4)] B5

C Income chargeable under the head “CAPITAL GAINS” (A4 + B5) (enter B5 as nil, if loss) C D Information about accrual/receipt of capital gain

Date

Upto 15/9 (i)

16/9 to 15/12 (ii)

16/12 to 15/3 (iii)

16/3 to 31/3 (iv)

1 Long- term

2 Short-term NOTE ► Please include the income of the specified persons referred to in Schedule SPI while computing the income under this head

Schedule OS Income from other sources 1 Income

a Dividends, Gross 1a b Interest, Gross 1b c Rental income from machinery, plants, buildings, 1c




g Balance (1e – fiii) 1g 2 Winnings from lotteries, crossword puzzles, races, etc. 2 3 Income from other sources (other than from owning race horses) (1g + 2) (enter1g as nil, if loss) 3



OTH

ER

SO

UR

CES

5 Income chargeable under the head “Income from other sources” (3 + 4c) (enter 4c as nil if loss and take 4c loss figure to Schedule CYLA) 5


Schedule CYLA Details of Income after set-off of current years losses House property loss of the current year set off

Business Loss

Other sources loss (other than loss from race horses) of the current year set off

Income of current year (Fill this column only if income is zero or positive) Total loss

(3c of Schedule –HP) Total loss

(6vi of Schedule-BP) Total loss

(3 of Schedule-OS)

Current year’s Income remaining after set off

Head/ Source of Income 1 2 3 4 5=1-2-3-4

Sl.No

Loss to be adjusted

i Salaries

ii House property

iii Business or profession

iv Short-term capital gain

v Long term capital gain

vi Other sources (incl. profit from owning race horses)

vii Total loss set off

CU

RR

EN

T Y

EA

R L

OSS

AD

JUST

ME

NT

viii Loss remaining after set-off



Income after set off, if any, of current year’s losses as per 4 of Schedule CYLA)

Brought forward loss set off Current year’s income remaining after set off

Sl. No.


1 2 3

i Salaries

ii House property

iii Business or profession

iv Short-term capital gain v Long-term capital gain

vi Other sources (profit from owning race horses)

vii Total of brought forward loss set off

BR

OU

GH

T F

OR

WA

RD

LO

SS

AD

JUST

ME

NT

viii Current year’s income remaining after set off Total (i3 + ii3 + iii3 + iv3 + v3+vi3)


Sl. No.


House property loss

Business or profession



Other sources loss (from owning race horses)

i 2001-02

ii 2002-03

iii 2003-04

iv 2004-05

v 2005-06

vi 2006-07

vii 2007-08

viii 2008-09




CA

RR

Y F

OR

WA

RD

OF

LO

SS


Schedule VIA Deductions under Chapter VI-A (Section)

a 80C h 80G b 80CCC i 80GG c 80CCD j 80GGA d 80D k 80GGC e 80DD l 80QQB f 80DDB m 80RRB g 80E n 80U

TO

TA

L D

ED

UC

TIO

NS

o Total deductions (total of a to n) o

Schedule SPI Income of specified persons(spouse, minor child etc) includable in income of the assessee Sl No Name of person PAN of person (optional) Relationship Nature of Income Amount (Rs)

1 2 3

Schedule SI Income chargeable to Income tax at special rates IB [Please see instruction Number-9(iii) for section code and rate of tax]

Sl No

Section code

Special rate (%)

Income i

Tax thereon ii

Sl No

Section code

Special rate (%)

Income i

Tax thereon ii

1 6

2 7

3 8

4 9

5 10

SPE

CIA

L R

AT

E




1 Interest income 1

2 Dividend income 2

3 Long-term capital gains on which Securities Transaction Tax is paid 3

4 Net Agriculture income /any other income for rate purpose 4

5 Share in the profit of firm/AOP etc. 5

6 Others 6 EX

EM

PT IN

CO

ME

7 Total (1+2+3+4+5+6) 7

Schedule AIR Other Information (Information relating to Annual Information Return) [Please see instruction number-9(ii) for code] Sl Code of Transaction Amount (Rs) Sl Code of Transaction Amount (Rs)

1 001 5 005

2 002 6 006

3 003 7 007

4 004 8 008




Amount (Rs)

i ii iii iv v T

AX

PA

YM

EN

TS

NOTE ► Enter the totals of Advance tax and Self Assessment tax in Sl No. 9a & 9c of PartB-TTI



Employer

Unique Transaction

Number (UTN)


Income chargeable

under Salaries

Deduction under

Chapter VI-A


and edn. cess)

Total tax deducted


(1) (2) (9) (3) (4) (5) (6) (7) (8)

i

TD

S O

N S

AL

AR

Y

ii

Schedule TDS2 Details of Tax Deducted at Source on Income [As per Form 16 A issued by Deductor(s)] Sl No


Deductor

Unique Transaction

Number (UTN)



Total tax deducted Amount out of (6) claimed for

this year

(1) (2) (8) (3) (4) (5) (6) (7)

i

ii

iii

T

DS

ON

OTH

ER

INC

OM

E

NOTE ► Please enter total of column 7 of Schedule-TDS1 and column 7 of Schedule-TDS2 in 9(b) of PartB-TTI




doubt, please refer to relevant provisions of the Income-tax Act, 1961 and the Income-tax Rules, 1962. 2. Assessment Year for which this Form is applicable This Form is applicable for assessment year 2009-2010 only. 3. Who can use this Form This Form can be used a person being an individual or a Hindu Undivided family who is a partner in a firm and where income chargeable

to income-tax under the head “Profits or gains of business or profession” does not include any income except the income by way of any interest, salary, bonus, commission or remuneration, by whatever name called, due to, or received by him from such firm. In case a partner in the firm does not have any income from the firm by way of interest, salary, etc. and has only exempt income by way of share in the profit of the firm shall use this form only and not Form ITR-2.

4. Annexure-less Form No document (including TDS certificate) should be attached to this form. Official receiving the return has been instructed to detach

all documents enclosed with this form and return the same to the assessee. 5. Manner of filing this Form







(i) The code (to be filled in the section “Filing Status” on first page) for sections under which the return is filed are as under:- Sl.No. How the return is filed Code i. Voluntarily before the due date 11 ii. Voluntarily after the due date 12 iii. In response to notice under section 142(1) 13 iv. In response to notice under section 148 14 v. In response to notice under section 153A/ 153C 15

(ii) In Schedule AIR, the details of following transactions, if any, entered by you during the financial year 2008-09 are to be

entered. (If a transaction is not entered, please leave blank the relevant column in this item). Sl.No. Code Nature of transaction

1. 001 Cash deposits aggregating to ten lakh rupees or more in a year in any savings account by you maintained in a banking company to which the Banking Regulation Act, 1949 (10 of 1949), applied (including any bank or banking institution referred to in section 51 of that Act)





6. 006 Purchase by you of any immovable property valued at thirty lakh rupees or more. 7. 007 Sale by you of any immovable property valued at thirty lakh rupees or more. 8. 008 Payment made by you of an amount of five lakh rupees or more in a year for investment in bonds

issued by Reserve Bank of India. (iii) In Schedule SI, the codes for the sections which prescribed special rates of tax for the income mentioned therein are as

under:- Sl. No. Nature of income Section Rate of tax Section

code 1. Tax on accumulated balance of recognised

provident fund 111 To be computed

in accordance with rule 9(1) of Part A of fourth Schedule

1

2. Short term capital gains 111A 15 1A simpletaxindia.blogspot.com

3. Long term capital gains (with indexing) 112 20 21 4. Long term capital gains (without indexing) 112 10 22 5. Dividends, interest and income from units

purchase in foreign currency 115A(1)(a) 20 5A1a



50 FA


30 5A1b1


20 5A1b2


10 5A1b3


115AB(1)(a) 10 5AB1a


115AB(1)(b) 10 5AB1b


115AC(1) 10 5AC


115ACA(1) 10 5ACA

14. Profits and gains of life insurance business 115B 12.5 5B 15. Winnings from lotteries, crosswords puzzles,

races including horse races, card games and other games of any sort or gambling or betting of any form or nature whatsoever

115BB 30 5BB


115BBA 10 5BBA


115BBB 10 5BBB


10. BRIEF SCHEME OF THE LAW- Before filling out the form, you are advised to read the following-

(1) Computation of total income (a) “Previous year” is the financial year (1st April to the following 31st March) during which the income in question

has been earned. “Assessment Year” is the financial year immediately following the previous year. (b) Total income is to be computed as follows, in the following order:

(i) Classify all items of income under the following heads of income- (A) Salaries; (B) “Income from house property”; (C) “Profit and gains from business or profession” (by

way of salary, interest, commission, etc., from the firm in which the assessee is partner); (D) “Capital gains”; and (E) “Income from other sources”. [There may be no income under one or more of the heads at (A), (B), (D) and (E)].

(ii) Compute taxable income of the current year (i.e., the previous year) under each head of income separately in the Schedules which have been structured so as to help you in making these computations as per provisions of the Income-tax Act. These statutory provisions decide what is to be included in your income, what you can claim as an expenditure or allowance and how much, and also what you cannot claim as an expenditure/allowance.





(2) Computation of income-tax, surcharge, education cess including secondary and higher education cess and interest in respect of income chargeable to tax

(a) Compute income-tax payable on the total income. Special rates of tax are applicable to some specified items. Include agricultural income, as prescribed, for rate purposes, in the tax computation procedure..

(b) Add surcharge as prescribed by the law on the above tax payable. simpletaxindia.blogspot.com

(c) Add Education cess including secondary and higher education cess as prescribed on the tax payable plus surcharge. (d) Claim relief(s) as prescribed by the law, on account of arrears or advances of salary received during the year or of

double taxation and calculate balance tax and surcharge payable. (e) Add interest payable as prescribed by the law to reach total tax, surcharge and interest payable. (f) Deduct the amount of prepaid taxes, if any, like “tax deducted at source”, “advance-tax” and “self-assessment-tax”.

The result will be the tax payable (or refundable). (3) Obligation to file return

(a) Every individual and HUF has to furnish the return of his income if his total income before allowing deduction under Chapter VI-A (i.e., if his gross total income referred to in item 10 of Part B-TI of this Form) exceeds the maximum amount which is not chargeable to income tax [Rs. 1,50,000/- in case of individuals below the age of 65 years (other than women) and HUF, Rs. 1,80,000/- in case of women below the age of 65 years, and Rs. 2,25,000/- in case of individuals who are of the age of 65 years or more at any time during the financial year 2008-09] .


11. SCHEME OF THE FORM

The Scheme of this form follows the scheme of the law as outlined above in its basic form. The Form has been divided into two parts. It also has seventeen schedules. The details of these parts and the schedules are as under:-

(i) The first part, i.e., Part-A is spread over half of the first page of the return. It mainly seeks general information

requiring identificatory and other data. (ii) The second part, i.e, Part-B on page 1 and page 2 is regarding an outline of the total income and tax computation in

respect of income chargeable to tax. (iii) on page 2, there is a space for giving details of the transmission of the data of the form if the form has been furnished in

accordance with the manner mentioned at instruction No.5(iii). (iv) After Part-B, on page 2, there is a space for a statutory verification., (v) On top of page 3, there are details to be filled if the return has been prepared by a Tax Return Preparer. (vi) On pages 3 to 6, there are 17 Schedules details of which are as under-

(a) Schedule-S: Computation of income under the head Salaries. (b) Schedule-HP: Computation of income under the head Income from House Property (c) Schedule-IF: Information regarding partnership firms in which assessee is a partner (d) Schedule-BP: Computation of income under the head “profit and gains from business or profession” (income by

way of salary, interest etc. from firms in which assessee is a partner) (e) Schedule-CG:. Computation of income under the head Capital gains. (f) Schedule-OS: Computation of income under the head Income from other sources. (g) Schedule-CYLA: Statement of income after set off of current year’s losses (h) Schedule-BFLA: Statement of income after set off of unabsorbed loss brought forward from earlier years. (i) Schedule- CFL: Statement of losses to be carried forward to future years. (j) Schedule-VIA: Statement of deductions (from total income) under Chapter VIA. (k) Schedule SPI: Statement of income arising to spouse/ minor child/ son’s wife or any other person or association of

persons to be included in the income of assessee in Schedules-HP, BP, CG and OS. (l) Schedule-SI: Statement of income which is chargeable to tax at special rates (m) Schedule-EI: Statement of Income not included in total income (exempt incomes) (n) Schedule-AIR: Information regarding transactions which are reported through Annual Information Return under

section 285BA. (o) Schedule-IT: Statement of payment of advance-tax and tax on self-assessment. (p) Schedule-TDS1: Statement of tax deducted at source on salary. (q) Schedule-TDS2: Statement of tax deducted at source on income other than salary.

12. GUIDANCE FOR FILLING OUT PARTS AND SCHEDULES

(1) General (i) All items must be filled in the manner indicated therein; otherwise the return maybe liable to be held defective or even

invalid. (ii) If any schedule is not applicable score across as “---NA---“. (iii) If any item is inapplicable, write “NA” against that item. (iv) Write “Nil” to denote nil figures. (v) Except as provided in the form, for a negative figure/ figure of loss, write “-” before such figure. (vi) All figures should be rounded off to the nearest one rupee. However, the figures for total income/ loss and tax payable be

finally rounded off to the nearest multiple of ten rupees. (2) Sequence for filling out parts and schedules

You are advised to follow the following sequence in filling in the sheets; (i) Part A- General on page 1. (ii) Schedules (iii) Part B-TI and Part B-TTI (iv) Verification (v) Details relating to TRP and counter signature of TRP if return is prepared by him.

13. PART-GEN

Most of the details to be filled out in Part-Gen of this form are self-explanatory. However, some of the details mentioned below are to be filled out as explained hereunder:- (a) e-mail address and phone number are optional;


(b) In case of an individual, for “employer category”, Government category will include Central Government/ State Governments employees. PSU category will include public sector companies of Central Government and State Government;

(c) The code for sections under which the return is filed be filled as per code given in instruction No.9(i). (d) In case the return is being filed by you in a representative capacity, please ensure to quote your PAN in item “PAN of

the representative assessee”. In case the PAN of the person being represented is not known or he has not got a PAN in India, the item for PAN in the first line of the return may be left blank. It may please be noted that in the first line of this form, the name of the person being represented be filled.

14. SCHEDULES

(a) Schedule-S- In case there were more than one employer during the year, please give the details of the last employer. Further, in

case, there were more than one employer simultaneously during the year, please furnish the details of the employer you have got more salary. Fill the details of salary as given in TDS certificate(s) (Form 16) issued by the employer(s). However, if the income has not been computed correctly in Form No. 16, please make the correct computation and fill the same in this item. Further, in case there were more than one employer during the year, please furnish in this item the details in respect of total salaries from various employers.

(b) Schedule-HP,- In case, a single house property is owned by the assessee, which is self-occupied and interest paid on the loan taken for the house property is to be claimed as a deduction. This schedule needs to be filled up. If there are two or more than two house properties, fill out the details for each properties in this Schedule. If there are more than two house properties, the details of remaining properties be filled in a separate sheet in the format of this Schedule. and attach this sheet with this return. The results of all the properties have to be filled in last row of this Schedule. Following points also need to be clarified,-




(c) Schedule-IF,- (i) This Schedule has to be filled for each firm in which you are partner. (ii) In case you are partner in more than 5 firms, a separate sheet may be enclosed giving the details in same

format. (iii) In column (i) of the Schedule, furnish the amount of share in the profit of the firm (amount of profit) as

computed in accordance with the provisions of the Income-tax Act in case of the firm. Such share is exempt from tax in hands of the partner.

(iv) In column (ii), please furnish the amount of capital balance (including the capital on which you are entitled for an interest) in the firm in which you are partner.

(d) Schedule-BP,- (i) The details of the salary, bonus, commission, remuneration or interest received by you from the firms in

which you are partner (filled in Schedule-IF are to be filled in this Schedule). (ii) The expenses, if any, relating to earning of such income (which have not been deducted while computing

such income) shall be filled in column v of this Schedule. (e) Schedule-CG,-

(i) If more than one short-term capital asset has been transferred, make the combined computation for all the assets. Similarly, make the combined computation for all the assets if more than one long-term capital asset has been transferred.


Sl.No. Financial Year Cost Inflation

Index Sl.No. Financial Year Cost Inflation Index

1. 1981-82 100 15. 1995-96 281 2. 1982-83 109 16. 1996-97 305 3. 1983-84 116 17. 1997-98 331 4. 1984-85 125 18. 1998-99 351 5. 1985-86 133 19. 1999-00 389 6. 1986-87 140 20. 2000-01 406 7. 1987-88 150 21. 2001-02 426 8. 1988-89 161 22. 2002-03 447 9. 1989-90 172 23. 2003-04 463 10. 1990-91 182 24. 2004-05 480 11. 1991-92 199 25. 2005-06 497 12. 1992-93 223 26. 2006-07 519 13. 1993-94 244 27. 2007-08 551 14. 1994-95 259 28. 2008-09 582

(iii) Sections 54/ 54B/ 54D/ 54EC/ 54F mentioned in this schedule provides exemption on capital gains subject to fulfillment of certain conditions. Exemption under some of these sections is available only in respect of


long-term capital gains. Therefore, please ensure that you are claiming the benefit of any of these sections correctly in accordance with the provisions of law.

(iv) Item C of this Schedule computes the total of short-term capital gain and long-term capital gain (item A4 + item B5). Please note that if balance in item B5 in respect of long-term capital gain is a loss, same shall not be set-off against short-term capital gain. In such situation, the figure of item B5 would be entered as 0 and then the figures of item A4 be added in item C.

(f) Schedule-OS,- (i) Against item 1a and 1b, enter the details of gross income by way of dividend and interest which is not





(v) Item 5 of this Schedule computes the total income chargeable under the head “Income from other sources” (item 3 + item 4c). If balance in item 4c from owning and maintaining race horses is a loss, please enter 0 and enter the total of item 3.

(g) Schedule-SPI,- (i) Furnish the details of income of spouse, minor child, etc., if to be included in your income in accordance

with provisions of Chapter V of the Income-tax Act. (ii) The income entered into this Schedule has to be included in the respective head. (iii) Section 10(32) provides exemption to extent of Rs. 1,500/- in respect of minor’s income for the purpose of

clubbing. Therefore, exclude Rs. 1,500/- from the income of the minor while clubbing the income of the minor in the respective head. However, if income of the minor is to be clubbed in various heads, total exclusion should not exceed Rs. 1,500/-.

(h) Schedule-CYLA,- (i) Mention only positive incomes of the current year in column 1, headwise, in the relevant rows. (ii) Mention total current year’s loss(es), if any, from house property, business or profession and other sources

(other than losses from race horses) in the first row against ‘loss to be adjusted’. These losses are to be set off against income under other heads in accordance with the provisions of section 71. The amount set off against the income of respective heads has to be entered into in columns 2, 3 and 4, in the relevant rows.

(iii) Mention the end-result of the above inter-head set-off(s) in column 5, headwise, in relevant rows. (iv) Total of loss set off out of columns 2, 3 and 4 have to be entered into row vii. (v) The losses remaining for set off have to be entered in row viii.

(i) Schedule-BFLA,- (i) Mention only positive incomes of the current year (after set-off of loss in Schedule-CYLA in column 1,

headwise in relevant rows. (ii) The amount of brought forward losses which may be set off are to be entered in column 2 in respective rows

except under the head ‘Salary’ where no loss could be brought forward. (iii) The end result of the set off will be entered in column 3 in respective heads. The total of column 3 shall be

entered in row viii which shall give the amount of gross total income. (iv) The total amount of brought forward losses set off during the year shall be entered in column 2 of row vii.

(j) Schedule-CFL,- (i) In this Schedule, the summary of losses carried from earlier years, set off during the year and to be carried

forward for set off against income of future years is to be entered. (ii) The losses under the head “house property”, ‘profit and gains of business or profession” short term capital

loss and long term capital loss, losses from other sources (other than losses from race horses) are allowed to be carried forward for 8 years. However, loss from owning and maintaining race horses can be carried forward only for 4 assessment years.

(k) Schedule-VIA,- The total of the deductions allowable is limited to the amount of gross total income. For details of deductions allowable, the provisions of the Chapter VI-A may kindly be referred to. Details of deductions which are available to an individual/ HUF not carrying out any business or profession are as under:-

(i) Section 80C (Some of the major items for deduction under this section are- amount paid or deposited towards life insurance, contribution to Provident Fund set up by the Government, recognised Provident Fund, contribution by the assessee to an approved superannuation fund, subscription to National Savings Certificates, tuition fees, payment/ repayment for purposes of purchase or construction of a residential house and many other investments)(for full list, please refer to section 80C of the Income-tax Act) (Please note that as provided in section 80CCE, aggregate amount of deduction under section 80C, 80CCC and 80CCD shall not exceed one lakh rupees).

(ii) Section 80CCC (Deduction in respect of contributions to certain pension funds). (iii) Section 80CCD (Deduction in respect of contributions to pension scheme of Central Government) (iv) Section 80D (Deduction in respect of Medical Insurance Premium) (v) Section 80DD (Deduction in respect of maintenance including medical treatment of dependent who is a

person with disability) (vi) Section 80DDB (Deduction in respect of medical treatment, etc.) (vii) Section 80E (Deduction in respect of interest on loan taken for higher education) (viii) Section 80G (Deduction in respect of donations to certain funds, charitable institutions, etc.) (ix) Section 80GG (Deduction in respect of rents paid) (x) Section 80GGA (Deduction in respect of certain donations for scientific research or rural development) (xi) Section 80GGC (Deduction in respect of contributions given by any person to political parties)


(xii) Section 80RRB (Deduction in respect of royalty on patents) (xiii) Section 80U (Deduction in case of a person with disability)

(l) Schedule-SI,- Mention the income included in Schedule-CG and Schedule-OS which is chargeable to tax at special rates. The codes for relevant section and special rate of taxes are given in Instruction No.9(iii)

(m) Schedule-EI,-

Furnish the details of income like agriculture income, interest, dividend, etc. which is exempt from tax. The details may be filled on cash basis unless there is any provision/ requirement to declare them on accrual basis.

(n) Schedule-AIR,-

In this Schedule, please fill out the details as explained in Instruction No.9(ii) (o) Schedule-IT,-

(i) In this schedule, fill out the details of payment of advance income-tax and income-tax on self-assessment. (ii) The details of BSR Code of the bank branch (7 digits), date of deposit, challan serial no., and amount paid

should be filled out from the acknowledgement counterfoil. out from the acknowledgement counterfoil.

(p) Schedules-TDS1 and TDS2,-



(iii) It may please be noted that the TDS certificates are not to be annexed with the Return Form. (iv) In order to enable the Income Tax Department to provide accurate, quicker and full credit for taxes

deducted at source, the taxpayer must ensure to quote the Unique Transaction Number (UTN) in respect of every TDS transaction. In general the UTN would be printed on the TDS certificate issued by the deductor. However, in case it is not available on the certificate, the taxpayer should separately obtain the UTN either from the deductor or from the website of National Securities Depository Limited (NSDL) at http://www.tin-nsdl.com .


(i) In this part the summary of income computed under various heads and as set off in Schedule CFLA and Schedule BFLA

is to be entered. (ii) Every entry which have to be filled on basis of Schedules have been crossed referenced and hence doesn’t need any

further clarification.

16. PART B-TI-COMPUTATION OF TAX LIABILITY ON TOTAL INCOME (a) in item 1a, fill the details of gross tax liability to be computed at the applicable rate. The tax liability has to be computed

at the rates given as under:-





(iii) In case of individuals who are of the age of 65 years or more at any time during the financial year 2008-09- Income (In Rs.) Tax Liability (In Rs.) Upto Rs. 2,25,000 Nil Between Rs. 2,25,001 – Rs. 3,00,000 10% of income in excess of Rs. 2,25,000 Between Rs. 3,00,001 – Rs. 5,00,000 Rs. 7,500 + 20% of income in excess of Rs. 3,00,000 Above Rs.5,00,000 Rs. 47,500 + 30% of income in excess of Rs. 5,00,000


(c) In item No. 3, calculate the education cess including secondary and higher education cess at the rate of three per cent of [item No.1c+ item No. 2]



(e) In item 9b, please furnish the details in accordance with Form 16 issued by the employer(s) in respect of salary income and Form 16A issued by any other person in respect of interest income.


17. VERIFICATION (a) In case the return is to be furnished in a paper format or electronically under digital signature or in a bar coded return

format, please fill up the required information in the Verification. Strike out whatever is not applicable. Please ensure that the verification has been signed before furnishing the return. Write the designation of the person signing the return.




(a) This return can be prepared by a Tax Return Preparer (TRP) also in accordance with the Tax Return Preparer Scheme,

2006 dated 28th November, 2006. (b) If the return has been prepared by him, the relevant details have to be filled by him in item No.16 below verification

and the return has to be countersigned by him in the space provided in the said item. (c) The Tax Return Preparer is entitled to a maximum fees of Rs. 250/- from the taxpayer. TRP is also entitled to a

reimbursement from the Government for following three years as under:- (i) 3 per cent of the tax paid on the income declared in the return for the first eligible assessment year (first

eligible assessment year means the assessment year if no return has been furnished for at least three assessment years preceding to that assessment year);










Male Female

(STD code)-Phone Number Employer Category (if in employment) (Tick)

PER

SON

AL

INFO

RM

AT

ION

Email Address


[Please see instruction number9(i)] Whether original or Revised return? (Tick) Original Revised




FILI

NG

ST

AT

US

( c) Permanent Account Number (PAN) of the representative

Assessment Year

FOR

M


( For individuals and HUFs having income from a proprietory business or profession) (Please see rule 12 of the Income-tax Rules,1962)


Part A-GEN GENERAL

Are you liable to maintain accounts as per section 44AA? (Tick) Yes No Are you liable for audit under section 44AB? (Tick) Yes No, If yes, furnish following information- (a) Name of the auditor signing the tax audit report (b) Membership no. of the auditor (c) Name of the auditor (proprietorship/ firm) (d) Permanent Account Number (PAN) of the proprietorship/ firm A

UD

IT IN

FOR

MA

TIO

N

(e) Date of audit report.

For Office Use Only



Nature of business or profession, if more than one business or profession indicate the three main activities/ products

S.No. Code [Please see instruction No.9(ii)]

Trade name of the proprietorship, if any Description

(i)

(ii) N

AT

UR

E O

F B

USI

NE

SS

(iii)

Part A-BS BALANCE SHEET AS ON 31ST DAY OF MARCH, 2009 OF THE PROPRIETORY BUSINESS

(fill items 1 to 5 in a case where regular books of accounts are maintained, otherwise fill item 6) 1 Proprietor’s fund

a Proprietor’s capital a

b Reserves and Surplus

i Revaluation Reserve bi

ii Capital Reserve bii

iii Statutory Reserve biii

iv Any other Reserve biv

v Total (bi + bii + biii + biv) bv SOU

RC

ES

OF

FUN

DS

c Total proprietor’s fund (a + bv) 1c

2 Loan funds

a Secured loans i Foreign Currency Loans ai ii Rupee Loans

A From Banks iiA B From others iiB

C Total ( iiA + iiB) iiC

iii Total (ai + iiC) aiii

b Unsecured loans (including deposits) i From Banks bi ii From others bii

iii Total (bi + bii) biii

c Total Loan Funds (aiii + biii) 2c

3 Deferred tax liability 3

4 Sources of funds (1c + 2c +3) 4

1 Fixed assets a Gross: Block 1a b Depreciation 1b c Net Block (a – b) 1c d Capital work-in-progress 1d

e Total (1c + 1d) 1e

2 Investments a Long-term investments

i Government and other Securities - Quoted ai ii Government and other Securities – Unquoted aii

iii Total (ai + aii) aiii

b Short-term investments i Equity Shares, including share application money bi ii Preference Shares bii iii Debentures biii

iv Total (bi + bii + biii) biv

c Total investments (aiii + biv) 2c

3 Current assets, loans and advances

APP

LIC

AT

ION

OF

FUN

DS

a Current assets


i Inventories

A Stores/consumables including packing material iA

B Raw materials iB C Stock-in-process iC D Finished Goods/Traded Goods iD

E Total (iA + iB + iC + iD) iE

ii Sundry Debtors aii

iii Cash and Bank Balances A Cash-in-hand iiiA B Balance with banks iiiB

C Total (iiiA + iiiB) iiiC

iv Other Current Assets aiv

v Total current assets (iE + aii + iiiC + aiv) av

b Loans and advances

i Advances recoverable in cash or in kind or for value to be received bi

ii Deposits, loans and advances to corporates and others bii

iii Balance with Revenue Authorities biii

iv Total (bi + bii + biii ) biv

c Total of current assets, loans and advances (av + biv) 3c

d Current liabilities and provisions

i Current liabilities A Sundry Creditors iA B Liability for Leased Assets iB C Interest Accrued on above iC D Interest accrued but not due on loans iD


ii Provisions A Provision for Income Tax iiA B Provision for Wealth Tax iiB

C Provision for Leave encashment/Superannuation/Gratuity iiC

D Other Provisions iiD

E Total (iiA + iiB + iiC + iiD ) iiE

iii Total (iE + iiE) diii

e Net current assets (3c – diii) 3e

4 a Miscellaneous expenditure not written off or adjusted 4a b Deferred tax asset 4b c Profit and loss account/ Accumulated balance 4c

d Total (4a + 4b + 4c) 4d

5 Total, application of funds (1e + 2c + 3e +4d) 5

In a case where regular books of account of business or profession are not maintained - (furnish the following information as on 31st day of March, 2009, in respect of business or profession)

a Amount of total sundry debtors 6a b Amount of total sundry creditors 6b c Amount of total stock-in-trade 6c

NO

AC

CO

UN

T

CA

SE

6

d Amount of the cash balance 6d

Part A-P& L Profit and Loss Account for the previous year 2008-09 of the proprietory business

(fill items 1 to 50 in a case where regular books of accounts are maintained, otherwise fill item 51) 1 Sales/ Gross receipts of business or profession

(Net of returns and refunds and duty or tax, if any) 1

2 Duties, taxes and cess, received or receivable, in respect of goods and services sold or supplieda Union Excise duties 2a b Service tax 2b c VAT/ Sales tax 2c

CR

ED

ITS

TO

PR

OFI

T

AN

D L

OSS

A

CC

OU

NT

d Any other duty, tax and cess 2d


e Total of duties, taxes and cess, received or receivable(2a+2b+2c+2d) 2e

3 Other income a Rent 3a b Commission 3b c Dividend 3c d Interest 3d e Profit on sale of fixed assets 3e

f Profit on sale of investment being securities chargeable to Securities Transaction Tax (STT) 3f

g Profit on sale of other investment 3g h Profit on account of currency fluctuation 3h i Agriculture income 3i j Any other income 3j

k Total of other income (3a to 3j) 3k

4 Closing Stock 4

5 Total of credits to profit and loss account (1+2e+3k+4) 5

6 Opening Stock 6

7 Purchases (net of refunds and duty or tax, if any) 7

8 Duties and taxes, paid or payable, in respect of goods and services purchased a Custom duty 8a b Counter vailing duty 8b c Special additional duty 8c d Union excise duty 8d e Service tax 8e f VAT/ Sales tax 8f g Any other tax, paid or payable 8g

h Total (8a+8b+8c+8d+8e+8f+8g) 8h

9 Freight 9

10 Consumption of stores and spare parts 10

11 Power and fuel 11

12 Rents 12

13 Repairs to building 13

14 Repairs to machinery 14

15 Compensation to employees a Salaries and wages 15a b Bonus 15b c Reimbursement of medical expenses 15c d Leave encashment 15d e Leave travel benefits 15e f Contribution to approved superannuation fund 15f g Contribution to recognised provident fund 15g h Contribution to recognised gratuity fund 15h i Contribution to any other fund 15i

j Any other benefit to employees in respect of which an expenditure has been incurred 15j

k Total compensation to employees (15a+15b+15c+15d+15e+15f+15g+15h+15i+15j) 15k

16 Insurance a Medical Insurance 16a b Life Insurance 16b c Keyman’s Insurance 16c d Other Insurance 16d

e Total expenditure on insurance (16a+16b+16c+16d) 16e

17 Workmen and staff welfare expenses 17

18 Entertainment 18

DE

BIT

S T

O

PRO

FIT

AN

D L

OSS

A

CC

OU

NT

19 Hospitality 19


20 Conference 20

21 Sales promotion including publicity (other than advertisement) 21

22 Advertisement 22

23 Commission 23

24 Hotel , boarding and Lodging 24

25 Traveling expenses including foreign traveling 25

26 Conveyance expenses 26

27 Telephone expenses 27

28 Guest House expenses 28

29 Club expenses 29

30 Festival celebration expenses 30

31 Scholarship 31

32 Gift 32

33 Donation 33

34 Rates and taxes, paid or payable to Government or any local body (excluding taxes on income)

a Union excise duty 34a b Service tax 34b c VAT/ Sales tax 34c d Cess 34d e Any other rate, tax, duty or cess incl STT Paid 34e

f Total rates and taxes paid or payable (34a+34b+34c+34d+34e) 34f

35 Audit fee 35

36 Other expenses 36

37 Bad debts 37

38 Provision for bad and doubtful debts 38

39 Other provisions 39

40 Profit before interest, depreciation and taxes [5 – (6 + 7 + 8h + 9 to 14 + 15k + 16e + 17 to 33 + 34f + 35 to 39)] 40

41 Interest 41

42 Depreciation 42

43 Profit before taxes (40-41-42) 43

44 Provision for current tax 44

45 Provision for Deferred Tax 45

46 Profit after tax (43 – 44 – 45 ) 46

47 Balance brought forward from previous year 47

48 Amount available for appropriation (46 + 47) 48

49 Transferred to reserves and surplus 49

TA

X P

RO

VIS

ION

S A

ND

A

PPR

OPR

IATI

ON

S

50 Balance carried to balance sheet in proprietor’s account (48 – 49) 50

51 In a case where regular books of account of business or profession are not maintained, furnish the following information for previous year 2008-09 in respect of business or profession

a Gross receipts 51a b Gross profit 51b c Expenses 51c

NO

AC

CO

UN

T C

ASE

d Net profit 51d

Part A- OI Other Information (optional in a case not liable for audit under section 44AB) 1 Method of accounting employed in the previous year (Tick) mercantile cash 2 Is there any change in method of accounting (Tick) Yes No 3 Effect on the profit because of deviation, if any, in the method of accounting employed in the

previous year from accounting standards prescribed under section 145A 3

4 Method of valuation of closing stock employed in the previous year

a Raw Material (if at cost or market rates whichever is less write 1, if at cost write 2, if at market rate write 3)

OT

HE

R

INFO

RM

AT

ION

b Finished goods (if at cost or market rates whichever is less write 1, if at cost write 2, if at market rate write 3) simpletaxindia.blogspot.com

c Is there any change in stock valuation method (Tick) Yes No d Effect on the profit or loss because of deviation, if any, from the method of valuation

prescribed under section 145A 4d

5 Amounts not credited to the profit and loss account, being -

a the items falling within the scope of section 28 5a

b the proforma credits, drawbacks, refund of duty of customs or excise or service tax, or refund of sales tax or value added tax, where such credits, drawbacks or refunds are admitted as due by the authorities concerned

5b

c escalation claims accepted during the previous year 5c

d any other item of income 5d

e capital receipt, if any 5e

f Total of amounts not credited to profit and loss account (5a+5b+5c+5d+5e) 5f 6 Amounts debited to the profit and loss account, to the extent disallowable under section 36:-

a Premium paid for insurance against risk of damage or destruction of stocks or store 6a

b Premium paid for insurance on the health of employees 6b

c Any sum paid to an employee as bonus or commission for services rendered, where such sum was otherwise payable to him as profits or dividend.

6c

d Any amount of interest paid in respect of borrowed capital 6d

e Amount of discount on a zero-coupon bond 6e

f Amount of contributions to a recognised provident fund 6f

g Amount of contributions to an approved superannuation fund 6g

h Amount of contributions to an approved gratuity fund 6h

i Amount of contributions to any other fund 6i

j Amount of bad and doubtful debts 6j

k Provision for bad and doubtful debts 6k

l Amount transferred to any special reserve 6l

m Expenditure for the purposes of promoting family planning amongst employees 6m

n Any sum received from employees as contribution to any provident fund or superannuation fund or any fund set up under ESI Act or any other fund for the welfare of employees to the extent credited to the employees account on or before the due date

6n

o Any other disallowance 6o

p Total amount disallowable under section 36 (total of 6a to 6o) 6p 7 Amounts debited to the profit and loss account, to the extent disallowable under section 37

a Expenditure of personal nature; 7a

b Expenditure on advertisement in any souvenir, brochure, tract, pamphlet or the like, published by a political party;

7b

c Expenditure by way of penalty or fine for violation of any law for the time being in force; 7c

d Any other penalty or fine; 7d

e Expenditure incurred for any purpose which is an offence or which is prohibited by law; 7e

f Amount of any liability of a contingent nature 7f

g Amount of expenditure in relation to income which does not form part of total income 7g

h Any other amount not allowable under section 37 7h

i Total amount disallowable under section 37(total of 7a to 7h) 7i 8 A. Amounts debited to the profit and loss account, to the extent disallowable under section 40

a

Amount disallowable under section 40 (a)(i), 40(a)(ia) and 40(a)(iii) on account of non-compliance with the provisions of Chapter XVII-B

Aa

b Amount paid as fringe benefit tax Ab

c Amount of tax or rate levied or assessed on the basis of profits Ac

d Amount paid as wealth tax Ad


e Amount of interest, salary, bonus, commission or remuneration paid to any partner or member Ae

f Any other disallowance Af g Total amount disallowable under section 40(total of Aa to Af) 8Ag

B. Any amount disallowed under section 40 in any preceding previous year but allowable during the previous year

8B

9 Amounts debited to the profit and loss account, to the extent disallowable under section 40A a Amounts paid to persons specified in section

40A(2)(b) 9a

b Amount in excess of twenty thousand rupees paid to a person in a day otherwise than by account payee cheque or account payee bank draft under section 40A(3) – 100% disallowable

9b

c Provision for payment of gratuity 9c d any sum paid by the assessee as an employer for

setting up or as contribution to any fund, trust, company, AOP, or BOI or society or any other institution;

9d

e Any other disallowance 9e

f Total amount disallowable under section 40A (total of 9a to 9e) 9f 10 Any amount disallowed under section 43B in any preceding previous year but allowable during

the previous year a Any sum in the nature of tax, duty, cess or fee under

any law 10a

b Any sum payable by way of contribution to any provident fund or superannuation fund or gratuity fund or any other fund for the welfare of employees

10b

c Any sum payable to an employee as bonus or commission for services rendered 10c

d Any sum payable as interest on any loan or borrowing from any public financial institution or a State financial corporation or a State Industrial investment corporation

10d

e Any sum payable as interest on any loan or borrowing from any scheduled bank 10e

f Any sum payable towards leave encashment 10f

g Total amount allowable under section 43B (total of 10a to 10f) 10g 11 Any amount debited to profit and loss account of the previous year but disallowable under

section 43B:- a Any sum in the nature of tax, duty, cess or fee under

any law 11a


11b



11d



g Total amount disallowable under Section 43B(total of 11a to 11f) 11g 12 Amount of credit outstanding in the accounts in respect of

a Union Excise Duty 12a

b Service tax 12b

c VAT/sales tax 12c

d Any other tax 12d

e Total amount outstanding (total of 12a to 12d) 12e 13 Amounts deemed to be profits and gains under section 33AB or 33ABA or 33AC 13 14 Any amount of profit chargeable to tax under section 41 14

15 Amount of income or expenditure of prior period credited or debited to the profit and loss account (net)

15


Part A – QD Quantitative details (optional in a case not liable for audit under section 44AB)

(a) In the case of a trading concern 1 Opening stock 1

2 Purchase during the previous year 2

3 Sales during the previous year 3

4 Closing stock 4

5 Shortage/ excess, if any 5 (b) In the case of a manufacturing concern

6 Raw materials

a Opening stock 6a

b Purchases during the previous year 6b

c Consumption during the previous year 6c

d Sales during the previous year 6d e Closing stock 6e f Yield finished products 6f

g Percentage of yield 6g

h Shortage/ excess, if any 6h 7 Finished products/ By-products

a opening stock 7a

b purchase during the previous year 7b

c quantity manufactured during the previous year 7c

d sales during the previous year 7d

e closing stock 7e

QU

AN

TIT

ATI

VE

DE

TAIL

S

f shortage/ excess, if any 7f

Part B - TI Computation of total income 1 Salaries (6 of Schedule S) 1 2 Income from house property (4c of Schedule-HP) (enter nil if loss) 2 3 Profits and gains from business or profession

i Profit and gains from business other than speculative business (A37 of Schedule-BP)

3i

ii Profit and gains from speculative business (B41 of Schedule-BP) (enter nil if loss)

3ii

iii Total (3i + 3ii) (enter nil if 3iii is a loss) 3iii 4 Capital gains

a Short term i Short-term (under section 111A) (A7 of Schedule-

CG) (enter nil if loss) 4ai

ii Short-term (others) (A8 of Schedule-CG) 4aii

iii Total short-term (4ai + 4aii) 4aiii b Long-term (B6 of Schedule-CG) (enter nil if loss) 4b

c Total capital gains (4aiii + 4b) (enter nil if 4c is a loss) 4c 5 Income from other sources

a from sources other than from owning race horses (3 of Schedule OS) (enter nil if loss)

5a

b from owning race horses (4c of Schedule OS) (enter nil if loss)

5b

c Total (5a + 5b) 5c 6 Total (1 + 2 + 3iii +4c +5c) 6 7 Losses of current year to be set off against 6 (total of 2vii,3vii and 4vii of Schedule CYLA) 7 8 Balance after set off current year losses (6 – 7) 8 9 Brought forward losses to be set off against 6 (total of 2vii, 3vii and 4vii of Schedule BFLA) 9

10 Gross Total income (8-9) (also 5viii of Schedule BFLA) 10 11 Deductions under Chapter VI-A (s of Schedule VIA) 11 12 Total income (10 – 11) 12 13 Net agricultural income/ any other income for rate purpose (4 of Schedule EI) 13

TO

TA

L IN

CO

ME

14 ‘Aggregate income’ (12 + 13) 14


15 Losses of current year to be carried forward (total of xi of CFL) 15

Part B - TTI Computation of tax liability on total income 1 Tax payable on total income

a Tax at normal rates 1a

b Tax at special rates (11 of Schedule-SI) 1b

2 Tax Payable on Total Income (1a + 1b) 2 3 Surcharge on 2 3 4 Education cess, including secondary and higher education cess on (2+3) 4 5 Gross tax liability (2+ 3 + 4) 5 6 Tax relief


d Total (6a + 6b + 6c) 6d 7 Net tax liability (5 – 6d) 7 8 Interest payable



CO

MPU

TA

TIO

N O

F TA

X L

IAB

ILIT

Y


a Advance Tax (from Schedule-IT) 10a b TDS (total of column 7 of Schedule-TDS1 and column 7

of Schedule-TDS2) 10b

c TCS (column 7 of Schedule-TCS) 10c d Self Assessment Tax (from Schedule-IT) 10d

e Total Taxes Paid (10a+10b+10c + 10d) 10e

TAX

ES

PAID

11 Amount payable (Enter if 9 is greater than 10e, else enter 0) 11 12 Refund (If 10e is greater than 9, also give Bank Account details below) 12 13 Enter your bank account number (mandatory in case of refund) 14 Do you want your refund by cheque, or deposited directly into your bank account? (tick as applicable ) 15 Give additional details of your bank account

RE

FUN

D


VERIFICATION I, son/ daughter of , holding permanent account number ____________ solemnly declare that to the best of my knowledge and belief, the information given in the return and schedules thereto is correct and complete and that the amount of total income and other particulars shown therein are truly stated and are in accordance with the provisions of the Income-tax Act, 1961, in respect of income chargeable to Income-tax for the previous year relevant to the Assessment Year 2009-10.


17 If the return has been prepared by a Tax Return Preparer (TRP) give further details below: Identification No. of TRP


If TRP is entitled for any reimbursement from the Government, amount thereof…………… 18 Schedule S Details of Income from Salary

PAN of Employer (optional) Name of Employer


1 Salary (Excluding all allowances, perquisites & profit in lieu of salary).. 1 2 Allowances exempt under section 10 2 3 Allowances not exempt 3 4 Value of perquisites 4 5 Profits in lieu of salary 5

SAL

AR

IES





Town/ City State








Town/ City State








Town/ City State








HO

USE

PR

OPE

RT

Y

c Total (4a + 4b + 1i + 2i + 3i) 4c NOTE ► Please include the income of the specified persons referred to in Schedule SPI while computing the income under this head

Schedule BP Computation of income from business or profession

A From business or profession other than speculative business 1 Profit before tax as per profit and loss account (item 43 or item 51d of Part A-P&L ) 1 2 Net profit or loss from speculative business included

in 1 2

3 Income/ receipts credited to profit and loss account considered under other heads of income

3

4 Profit or loss included in 1, which is referred to in section 44AD/44AE/44AF/44B/44BB/44BBA/44BBB/ 44D/44DA Chapter-XII-G/ First Schedule of Income-tax Act

4

5 Income credited to Profit and Loss account (included in 1)which is exempt a share of income from firm(s) 5a IN

CO

ME

FR

OM

BU

SIN

ESS

OR

PR

OFE

SSIO

N

b Share of income from AOP/ BOI 5b


c Any other exempt income 5c d Total exempt income 5d

6 Balance (1– 2 – 3 – 4 – 5d) 6 7 Expenses debited to profit and loss account

considered under other heads of income 7

8 Expenses debited to profit and loss account which relate to exempt income

8

9 Total (7 + 8) 9

10 Adjusted profit or loss (6+9) 10 11 Depreciation debited to profit and loss account included in 9 11 12 Depreciation allowable under Income-tax Act

i Depreciation allowable under section 32(1)(ii) (column 6 of Schedule-DEP)

12i

ii Depreciation allowable under section 32(1)(i) (Make your own computation refer Appendix-IA of IT Rules)

12ii

iii Total (12i + 12ii) 12iii 13 Profit or loss after adjustment for depreciation (10 +11 - 12iii) 13 14 Amounts debited to the profit and loss account, to the

extent disallowable under section 36 (6p of Part-OI) 14

15 Amounts debited to the profit and loss account, to the extent disallowable under section 37 (7i of Part-OI)

15

16 Amounts debited to the profit and loss account, to the extent disallowable under section 40 (8Ag of Part-OI)

16

17 Amounts debited to the profit and loss account, to the extent disallowable under section 40A (9f of Part-OI)

17

18 Any amount debited to profit and loss account of the previous year but disallowable under section 43B (11g of Part-OI)

18

19 Interest disallowable under section 23 of the Micro, Small and Medium Enterprises Development Act,2006

19

20 Deemed income under section 41 20 21 Deemed income under section 33AB/33ABA/35ABB/

72A/80HHD/80-IA 21

22 Any other item or items of addition under section 28 to 44DA

22

23 Any other income (including income from salary, commission, bonus and interest from firms in which an individual/ HUF/ Prop. concern is a partner) not included in profit and loss

23

24 Total (14 + 15 + 16 + 17 + 18 + 19 + 20 + 21+22 +23) 24 25 Deduction allowable under section 32(1)(iii) 25 26 Amount of deduction under section 35 in excess of the

amount debited to profit and loss account (item vii(4) of Schedule ESR)

26

27 Any amount disallowed under section 40 in any preceding previous year but allowable during the previous year(8Bof Part-OI)

27

28 Any amount disallowed under section 43B in any preceding previous year but allowable during the previous year(10g of Part-OI)

28

29 Deduction under section 35AC a Amount, if any, debited to profit and loss

account 29a

b Amount allowable as deduction 29b

c Excess amount allowable as deduction (29b – 29a)

29c

30 Any other amount allowable as deduction 30

31 Total (25 + 26 + 27+28 +29c +30) 31 32 Income (13 + 24 – 31) 32 33 Profits and gains of business or profession deemed to be under -

i Section 44AD 33i ii Section 44AE 33ii iii Section 44AF 33iii iv Section 44B 33iv

v Section 44BB 33v


vi Section 44BBA 33vi vii Section 44BBB 33vii viii Section 44D 33

viii

ix Section 44DA 33ix x Chapter-XII-G 33 x xi First Schedule of Income-tax Act 33xi xii Total (33i to 33xi) 33xii

34 Profit or loss before deduction under section 10A/10AA/10B/10BA (32 + 33xii) 34 35 Deductions under section-

i 10A (6 of Schedule-10A) 35i ii 10AA (d of Schedule-10AA) 35ii iii 10B (f of Schedule-10B) 35iii iv 10BA (f of Schedule-10BA) 35iv

v Total (35i + 35ii +35iii + 35iv) 35v

36 Net profit or loss from business or profession other than speculative business (34 – 35v) 36 37 Net Profit or loss from business or profession (same as above in 36 except in case of special

business, after applying rule 7A, 7B or 7C) A37

B Computation of income from speculative business 38 Net profit or loss from speculative business as per profit or loss account 38 39 Additions in accordance with section 28 to 44DA 39 40 Deductions in accordance with section 28 to 44DA 40

41 Profit or loss from speculative business (38+39-40) B41

C Income chargeable under the head ‘Profits and gains’ (A37+B41) C


Schedule DPM Depreciation on Plant and Machinery

1 Block of assets Plant and machinery

15 30 40 50 60 80 100 2 Rate (%)

(i) (ii) (iii) (iv) (v) (vi) (vii) 3 Written down value on the first day of

previous year

4 Additions for a period of 180 days or more in the previous year

5 Consideration or other realization during the previous year out of 3 or 4

6 Amount on which depreciation at fullrate to be allowed (3 + 4 -5) (enter 0, if result is negative)

7 Additions for a period of less than 180 days in the previous year

8 Consideration or other realizations during the year out of 7

9 Amount on which depreciation at halfrate to be allowed (7-8) (enter 0, if result is negative)

10 Depreciation on 6 at full rate 11 Depreciation on 9 at half rate 12 Additional depreciation, if any, on 4 13 Additional depreciation, if any, on 7 14 Total depreciation* (10+11+12+13) 15 Expenditure incurred in connection

with transfer of asset/ assets

16 Capital gains/ loss under section 50* (5 + 8 -3-4 -7 -15) (enter negative only if block ceases to exist)

DE

PRE

CIA

TIO

N O

N P

LA

NT

AN

D M

AC

HIN

ER

Y

17 Written down value on the last day of previous year* (6+ 9 -14) (enter 0 if result is negative)


Schedule DOA Depreciation on other assets 1 Block of assets Building Furniture and

fittings Intangible assets

Ships

5 10 100 10 25 20 2 Rate (%) (i) (ii) (iii) (iv) (v) (vi)

3 Written down value on the first day of previous year










DE

PRE

CIA

TIO

N O

N O

TH

ER

ASS

ET

S


Schedule DEP Summary of depreciation on assets

1 Plant and machinery a Block entitled for depreciation @ 15 per cent

( Schedule DPM - 14 i) 1a

b Block entitled for depreciation @ 30 per cent ( Schedule DPM - 14 ii)

1b

c Block entitled for depreciation @ 40 per cent ( Schedule DPM - 14 iii)

1c

d Block entitled for depreciation @ 50 per cent ( Schedule DPM - 14 iv)

1d

e Block entitled for depreciation @ 60 per cent ( Schedule DPM - 14 v)

1e

f Block entitled for depreciation @ 80 per cent ( Schedule DPM – 14 vi)

1f

g Block entitled for depreciation @ 100 per cent ( Schedule DPM - 14 vii)

1g

h Total depreciation on plant and machinery ( 1a + 1b + 1c + 1d+ 1e + 1f + 1g ) 1h 2 Building

a Block entitled for depreciation @ 5 per cent (Schedule DOA- 14i)

2a

b Block entitled for depreciation @ 10 per cent (Schedule DOA- 14ii)

2b

c Block entitled for depreciation @ 100 per cent (Schedule DOA- 14iii)

2c

d Total depreciation on building (total of 2a + 2b + 2c) 2d 3 Furniture and fittings(Schedule DOA- 14 iv) 3 4 Intangible assets (Schedule DOA- 14 v) 4 5 Ships (Schedule DOA- 14 vi) 5

SUM

MA

RY

OF

DE

PRE

CIA

TIO

N O

N A

SSE

TS

6 Total depreciation ( 1h+2d+3+4+5) 6


Schedule DCG Deemed Capital Gains on sale of depreciable assets 1 Plant and machinery

a Block entitled for depreciation @ 15 per cent (Schedule DPM - 16i)

1a

b Block entitled for depreciation @ 30 per cent (Schedule DPM – 16ii)

1b

c Block entitled for depreciation @ 40 per cent(Schedule DPM - 16iii)

1c

d Block entitled for depreciation @ 50 per cent (Schedule DPM - 16iv)

1d

e Block entitled for depreciation @ 60 per cent (Schedule DPM – 16v)

1e

f Block entitled for depreciation @ 80 per cent (Schedule DPM – 16vi)

1f

g Block entitled for depreciation @ 100 per cent (Schedule DPM – 16vii)

1g

h Total ( 1a +1b + 1c + 1d + 1e + 1f + 1g) 1h 2 Building


2a


2b


2c

d Total ( 2a + 2b + 2c) 2d 3 Furniture and fittings ( Schedule DOA- 16iv) 3 4 Intangible assets (Schedule DOA- 16v) 4 5 Ships (Schedule DOA- 16vi) 5

6 Total ( 1h+2d+3+4+5) 6

Schedule ESR Deduction under section 35

Sl No

Expenditure of the nature referred to in section

(1)

Amount, if any, debited to profit and loss account

(2)

Amount of deduction allowable

(3)

Amount of deduction in excess of the amount debited to profit and loss account

(4) = (3) - (2) i 35(1)(i) ii 35(1)(ii) iii 35(1)(iii) iv 35(1)(iv) v 35(2AA) vi 35(2AB) vii total


1 From slump sale

a Full value of consideration 1a b Net worth of the under taking or division 1b c Short term capital gains from slump sale 1c d Deduction under sections 54B/54D 1d

e Net short term capital gains from slum sale (1c – 1d) 1e 2 From assets in case of non-resident to which first proviso to section 48 is applicable 2 3 From assets in the case of others



iv Total ( bi + bii + biii) biv c Balance (3a – biv) 3c d Loss, if any, to be ignored under section 94(7) or



f Short-term capital gain (3c – 3d – 3e) 3f

CA

PITA

L G

AIN

S

4 Deemed short capital gain on depreciable assets (6 of Schedule-DCG) 4


5 Amount deemed to be short term capital gains under sections 54B/54D/54EC/ 54ED/54G/ 54GA

5

6 Total short term capital gain (1e + 2 +3f +4 +5) 6 7 Short term capital gain under section 111A included in 6 7 8 Short term capital gain other than referred to in section 111A (6 – 7) A8

B Long term capital gain 1 From slump sale

a Full value of consideration 1a b Net worth of the under taking or division 1b c Long term capital gains from slump sale 1c d Deduction under sections 54/54B/54D/54EC/

54F/54G/54GA 1d

e Net long term capital gain from slump sale (1c – 1d) 1e 2 Asset in case of non-resident to which first proviso to section 48 applicable 2 3 Asset in the case of others where proviso under section 112(1) not exercised



iv Total (bi + bii +biii) biv c Balance (3a – biv) 3c d Deduction under sections 54/54B/54D/54EC/

54F/54G/54GA 3d

e Net balance (3c – 3d) 3e 4 Asset in the case of others where proviso under section 112(1) exercised


i Cost of acquisition without indexation bi ii Cost of improvement without indexation bii iii Expenditure on transfer biii

iv Total (bi + bii +biii) biv c Balance (4a – biv) 4c d Deduction under sections 54/54B/54D/54EC/

54F/54G/54GA 4d

e Net balance 4e 5 Amount deemed to be long term capital gains under sections 54/54B/54D/54EC/ 54ED/

54F/54G/54GA 5

6 Total long term capital gain (1e (enter nil if loss) + 2 + 3e (enter nil if loss) + 4e (enter nil if loss) + 5)

B6


1 Date

Upto 15/9 (i)

16/9 to 15/12 (ii)

16/12 to 15/3 (iii)

16/3 to 31/3 (iv)

2 Long- term

3 Short-term


Schedule OS Income from other sources 1 Income other than from owning race horse(s):-

a Dividends, Gross 1a b Interest, Gross 1b c Rental income from machinery, plants, buildings, 1c




g Balance (1e – fiii) 1g 2 Winnings from lotteries, crossword puzzles, races, etc. 2 3 Income from other sources (other than from owning race horses) (1g + 2) (enter 1g as nil if loss) 3 4 Income from owning and maintaining race horses

a Receipts 4a b Deductions under section 57 in relation to (4) 4b

OT

HE

R S

OU

RC

ES






Business Loss (other than speculation loss) of the current year

set off

Other sources loss (other than loss from race

horses) of the current year set off

Income of current year

(Fill this column only if income is zero or

positive) Total loss (4c of Schedule –HP)

Total loss (A37 of Schedule-BP)

Total loss (3 of Schedule-OS)

Current year’s Income remaining

after set off


1 2 3 4 5=1-2-3-4

Sl.No

Loss to be adjusted

i Salaries

ii House property

iii Business(including speculation profit)

iv Short-term capital gain

v Long term capital gain

vi Other sources (incl. profit from owning race horses)

vii Total loss set off

CU

RR

EN

T Y

EA

R L

OSS

AD

JUST

ME

NT

viii Loss remaining after set-off


Income after set off, if any, of current year’s

losses as per 5 of Schedule CYLA)

Brought forward loss set off

Brought forward depreciation set off

Brought forward allowance under section

35(4) set off

Current year’s income remaining

after set off

Sl. No.


1 2 3 4 5

i House property

ii Business (including speculation profit)

Iii Short-term capital gain iv Long-term capital gain



OU

GH

T F

OR

WA

RD

LO

SS

AD

JUST

ME

NT

vii Current year’s income remaining after set off Total (i5 + ii5 + iii5 + iv5+v5)


Sl. No.

Assessment Year Date of Filing

(DD/MM/YYYY)

House property loss

Loss from business other than loss

from speculative business including

unabsorbed depreciation

allowance u/s 35(4)

Loss from speculative

business including unabsorbed depreciation allowance u/s

35(4)



Other sources loss (from

owning race horses)

i 2001-02

ii 2002-03

iii 2003-04

iv 2004-05

v 2005-06

vi 2006-07

vii 2007-08

viii 2008-09


x Adjustment of above losses in Schedule BFLA (see instruction)


CA

RR

Y F

OR

WA

RD

OF

LO

SS



Schedule 10A Deduction under section 10A 1 Deduction in respect of units located in Software Technology Park

a Undertaking No.1 1a b Undertaking No.2 1b c Undertaking No.3 1c d Undertaking No.4 1d e Undertaking No.5 1e

f Total (1a + 1b+ 1c + 1d + 1e) 1f

2 Deductions in respect of units located in Electronic Hardware Technology Park a Undertaking No.1 2a b Undertaking No.2 2b c Undertaking No.3 2c

d Total (2a + 2b+ 2c) 2d 3 Deductions in respect of units located in Free Trade Zone

a Undertaking No.1 3a b Undertaking No.2 3b c Undertaking No.3 3c

d Total (3a + 3b+ 3c) 3d 4 Deductions in respect of units located in Export Processing Zone


d Total (4a + 4b+ 4c) 4d 5 Deductions in respect of units located in Special Economic Zone


d Total (5a + 5b+ 5c) 5d

DE

DU

CT

ION

S U

/S 1

0A

6 Total deduction under section 10A (1f + 2d + 3d + 4d + 5d) 6

Schedule 10AA Deduction under section 10AA

Deductions in respect of units located in Special Economic Zone a Undertaking No.1 a b Undertaking No.2 b c Undertaking No.3 c

DE

DU

CTI

ON

U

/S 1

0AA

d Total (a + b + c) d

Schedule 10B Deduction under section 10B

Deduction in respect of hundred percent Export Oriented units a Undertaking No.1 a b Undertaking No.2 b c Undertaking No.3 c d Undertaking No.4 d e Undertaking No.5 e

DE

DU

CT

ION

S U

/S

10B

f Total (a + b + c + d + e) f

Schedule 10BA Deduction under section 10BA

Deduction in respect of exports of handmade wooden articles a Undertaking No.1 a b Undertaking No.2 b c Undertaking No.3 c d Undertaking No.4 d e Undertaking No.5 e

DE

DU

CTI

ON

S U

/S

10BA


Schedule 80G Details of donations entitled for deduction under section 80G

A Donations entitled for 100% deduction

Name and address of donee Amount of donation

i Ai

ii Aii

iii Aiii DE

TA

ILS

OF

DO

NA

TIO

NS

iv Aiv


v Av

vi Total Avi B Donations entitled for 50% deduction where donee not required to be approved under section

80G(5) (vi)


i Bi

ii Bii

iii Biii

iv Biv

v Bv

vi Total Bvi C Donations entitled for 50% deduction where donee is required to be approved under section

80G(5) (vi)

Name and address of donee PANof donee Amount of donation

i Ci

ii Cii

iii Ciii

iv Civ

v Cv

vi Total Cvi D Total donations (Avi + Bvi + Cvi) D

Schedule 80-IA Deductions under section 80-IA a Deduction in respect of profits of an enterprise referred to

in section 80-IA(4)(i) [Infrastructure facility] a

b Deduction in respect of profits of an undertaking referred to in section 80-IA(4)(ii) [Telecommunication services]

b

c Deduction in respect of profits of an undertaking referred to in section 80-IA(4)(iii) [Industrial park and SEZs]

c

d Deduction in respect of profits of an undertaking referred to in section 80-IA(4)(iv) [Power]

d

e Deduction in respect of profits of an undertaking referred to in section 80-IA(4)(v) [Revival of power generating plant]and deduction in respect of profits of an undertaking referred to in section 80-IA(4)(vi)[Cross-country natural gas distribution network]

e

DE

DU

CT

ION

S U

/S 8

0-IA

f Total deductions under section 80-IA (a + b + c + d + e) f

Schedule 80-IB Deductions under section 80-IB

a Deduction in respect of industrial undertaking referred to in section 80-IB(3) [Small-scale industry]

a

b Deduction in respect of industrial undertaking located in Jammu & Kashmir [Section 80-IB(4)]

b

c Deduction in respect of industrial undertaking located in industrially backward states specified in Eighth Schedule [Section 80-IB(4)]

c

d Deduction in respect of industrial undertaking located in industrially backward districts [Section 80-IB(5)]

d

e Deduction in the case of multiplex theatre [Section 80-IB(7A)]

e

f Deduction in the case of convention centre [Section 80-IB(7B)]

f

g Deduction in the case of company carrying on scientific research [Section 80-IB(8A)]

g

h Deduction in the case of undertaking which begins commercial production or refining of mineral oil [Section 80-IB(9)]

h

i Deduction in the case of an undertaking developing and building housing projects [Section 80-IB(10)]

i

j Deduction in the case of an undertaking operating a cold chain facility [Section 80-IB(11)]

j

k Deduction in the case of an undertaking engaged in processing, preservation and packaging of fruits and vegetables [Section 80-IB(11A)]

k

DE

DU

CTI

ON

S U

/S 8

0-IB

l Deduction in the case of an undertaking engaged in integrated business of handling, storage and transportation of foodgrains [Section 80-IB(11A)]

l


m Deduction in the case of an undertaking engaged in operating and maintaining a rural hospital [Section 80-IB(11B)]

m

n Total deduction under section 80-IB (Total of a to m) n

Schedule 80-IC or 80-IE Deductions under section 80-IC or 80-IE 1 Deduction in respect of industrial undertaking located in Sikkim 1 2 Deduction in respect of industrial undertaking located in Himachal Pradesh 2 3 Deduction in respect of industrial undertaking located in Uttaranchal 3 4 Deduction in respect of industrial undertaking located in North-East

a Assam 4a b Arunachal Pradesh 4b c Manipur 4c d Mizoram 4d e Meghalaya 4e f Nagaland 4f g Tripura 4g

h Total of deduction for undertakings located in North-east (Total of 5a to 5g) 4h

DE

DU

CT

ION

S U

/S 8

0-IC

/ID

/IE

5 Total deduction under section 80-IC or 80-IE (1 + 2 + 3 + 4h) 5

Schedule VI-A Deductions under Chapter VI-A (Section)

a 80C j 80GGC b 80CCC k 80IA (f of Schedule

80-IA)

c 80CCD l 80IAB

d 80D m 80IB (n of Schedule 80-IB

e 80DD n 80IC/ 80-IE (5 of Schedule 80-IC/ 80-IE)

f 80DDB o 80ID/ 80JJA

g 80E p 80QQB

h 80G q 80RRB

i 80GG/GGA r 80U

TO

TA

L D

ED

UC

TIO

NS

s Total deductions under Chapter VI-A (Total of a to r) s

Schedule SPI Income of specified persons(spouse, minor child etc) includable in income of the assessee Sl No Name of person PAN of person (optional) Relationship Nature of Income Amount (Rs)

1 2

Schedule SI Income chargeable to Income tax at special rates IB [Please see instruction Number-9(iii) for section code and rate of tax] Sl No

Section code

Special rate (%)

Income i

Tax thereon ii

Sl No

Section code

Special rate (%)

Income i

Tax thereon ii

1 6

2 7

3 8

4 9

5 10

SPE

CIA

L R

AT

E


Schedule IF Information regarding partnership firms in which you are partner

Number of firms in which you are partner

FIR

MS

IN Name of the Firm PAN of the firm Percentage Share

Amount of share in the profit

Capital balance on 31st

March in the firm


in the profit of the firm

i ii

1 2 3 4 5 6 Total


1 Interest income 1 2 Dividend income 2 3 Long-term capital gains on which Securities Transaction Tax is paid 3 4 Net Agriculture income(other than income to be excluded under rule 7, 7A, 7B or 8) 4 5 Share in the profit of firm/AOP etc. 5 6 Others, including exempt income of minor child 6 E

XE

MPT

INC

OM

E

7 Total (1+2+3+4+5+6) 7

Schedule AIR Other Information (Information relating to Annual Information Return) [Please see instruction number-9(iv) for code] Sl Code of Transaction Amount (Rs) Sl Code of Transaction Amount (Rs)

1 001 5 005

2 002 6 006

3 003 7 007

4 004 8 008




Amount (Rs)

i ii iii iv v T

AX

PA

YM

ENT

S

NOTE ► Enter the totals of Advance tax and Self Assessment tax in Sl No.11a & 11d of Part B-TTI



Employer

Unique Transaction

Number (UTN)


Income chargeable

under Salaries

Deduction under

Chapter VI-A


and edn. cess)

Total tax deducted


(1) (2) (9) (3) (4) (5) (6) (7) (8)

i

TD

S O

N S

AL

AR

Y

ii

Schedule TDS2 Details of Tax Deducted at Source on Income [As per Form 16 A issued by Deductor(s)]

Sl No


Deductor

Unique Transaction

Number (UTN)



Total tax deducted

Amount out of (6) claimed for this

year

(1) (2) (8) (3) (4) (5) (6) (7)

I

ii

iii

T

DS

ON

OT

HE

R IN

CO

ME



Schedule TCS Details of Tax Collected at Source [As per Form 27D issued by the Collector(s)] Sl No

Tax Deduction and Tax Collection Account Number of the Collector

Unique Transaction

Number (UTN)

Name and address of the Collector

Amount received/ debited

Date of receipt/ debit

Total tax deducted

Amount out of (6) to be allowed as credit during the year

(1) (2) (8) (3) (4)

(5) (6) (7)

i

ii

T

CS

ON

INC

OM

E

NOTE ► Enter the total of column (7) in Sl No. 11c of Part B-TTI




doubt, please refer to relevant provisions of the Income-tax Act, 1961 and the Income-tax Rules, 1962. 2. Assessment Year for which this Form is applicable This Form is applicable for assessment year 2009-2010 only. 3. Who can use this Form

This Form can be used by a person being an individual or a Hindu Undivided family who is carrying out a proprietory business or profession.

4. Annexure-less Form No document (including TDS/ TCS certificate, report of audit) should be attached to this form. Official receiving the return has

been instructed to detach all documents enclosed with this form and return the same to the assessee. 5. Manner of filing this Form







(i) The code (to be filled in the section “Filing Status” on first page) for sections under which the return is filed are as

under:- Sl.No. How the return is filed Code i. Voluntarily before the due date (31.7.2009) 11 ii. Voluntarily after the due date 12 iii. In response to notice under section 142(1) 13 iv. In response to notice under section 148 14 v. In response to notice under section 153A/ 153C 15

(ii) The codes for nature of business to be filled in ‘Part-A- Nature of business’ are as under-

Sector Sub-Sector Code Agro-based industries 0101 Automobile and Auto parts 0102 Cement 0103 Diamond cutting 0104 Drugs and Pharmaceuticals 0105 Electronics including Computer Hardware 0106 Engineering goods 0107 Fertilizers, Chemicals, Paints 0108 Flour & Rice Mills 0109 Food Processing units 0110 Marble & Granite 0111 Paper 0112 Petroleum and Petrochemicals 0113 Power and energy 0114 Printing & Publishing 0115 Rubber 0116 Steel 0117 Sugar 0118 Tea, Coffee 0119 Textiles, handloom, Power looms 0120 Tobacco 0121

(1) Manufacturing

Industry

Tyre 0122


Vanaspati & Edible Oils 0123 Others 0124 Chain Stores 0201 Retailers 0202 Wholesalers 0203

(2) Trading

Others 0204 (3) Commission

Agents General Commission Agents 0301

Builders 0401 Estate Agents 0402 Property Developers 0403

(4) Builders

Others 0404 Civil Contractors 0501 Excise Contractors 0502 Forest Contractors 0503 Mining Contractors 0504

(5) Contractors

Others 0505 Chartered Accountants, Companies Secretaries, etc. 0601 Fashion designers 0602 Legal professionals 0603 Medical professionals 0604 Nursing Homes 0605 Specialty hospitals 0606

(6) Professionals

Others 0607 Advertisement agencies 0701 Beauty Parlours 0702 Consultancy services 0703 Courier Agencies 0704 Computer training/educational and coaching institutes 0705 Forex Dealers 0706 Hospitality services 0707 Hotels 0708 I.T. enabled services, BPO service providers 0709 Security agencies 0710 Software development agencies 0711 Transporters 0712 Travel agents, tour operators 0713

(7) Service Sector

Others 0714 Banking Companies 0801 Chit Funds 0802 Financial Institutions 0803 Financial service providers 0804 Leasing Companies 0805 Money Lenders 0806 Non-Banking Finance Companies 0807 Share Brokers, Sub-brokers, etc. 0808

(8) Financial Service Sector

Others 0809 Cable T.V. productions 0901 Film distribution 0902 Film laboratories 0903 Motion Picture Producers 0904 Television Channels 0905

(9) Entertainment

Industry

Others 0906 (iii) In Schedule SI, the codes for the sections which prescribe special rates of tax for the income mentioned therein are as

under:-

Sl. No. Nature of income Section Rate of tax Section code

1. Tax on accumulated balance of recognised provident fund

111 To be computed in accordance with rule 9(1) of Part A of fourth Schedule

1

2. Short term capital gains 111A 15 1A 3. Long term capital gains (with indexing) 112 20 21 4. Long term capital gains (without indexing) 112 10 22 5. Dividends, interest and income from units 115A(1)(a) 20 5A1a


purchase in foreign currency 6. Income from royalty or technical services where

agreement entered between 31.3.1961 to 31.3.1976 in case of royalty and between 29.2.1964 and 31.3.1976, and agreement is approved by the Central Government.


50 FA


30 5A1b1


20 5A1b2


10 5A1b3


115AB(1)(a) 10 5AB1a


115AB(1)(b) 10 5AB1b


115AC(1) 10 5AC


115ACA(1) 10 5ACA

14. Profits and gains of life insurance business 115B 12.5 5B 15. Winnings from lotteries, crosswords puzzles,

races including horse races, card games and other games of any sort or gambling or betting of any form or nature whatsoever

115BB 30 5BB


115BBA 10 5BBA


115BBB 10 5BBB


(iii) In Schedule AIR, the details of following transactions, if any, entered by you during the financial year 2008-09 are to

be entered. (If a transaction is not entered, please leave blank the relevant column in this item). Sl.No. Code Nature of transaction

1. 001 Cash deposits aggregating to ten lakh rupees or more in a year in any savings account by you maintained in a banking company to which the Banking Regulation Act, 1949 (10 of 1949), applied (including any bank or banking institution referred to in section 51 of that Act)





6. 006 Purchase by you of any immovable property valued at thirty lakh rupees or more. 7. 007 Sale by you of any immovable property valued at thirty lakh rupees or more. 8. 008 Payment made by you of an amount of five lakh rupees or more in a year for investment in

bonds issued by Reserve Bank of India. 10. BRIEF SCHEME OF THE LAW- Before filling out the form, you are advised to read the following-




(i) Classify all items of income under the following heads of income- (A) Salaries; (B) “Income from house property”; (C) “Profit and gains from business or profession”; (D)

“Capital gains”; and (E) “Income from other sources”. [There may be no income under one or more of the heads at (A), (B), (D) and (E)].




(v) Aggregate the headwise end-results as available after (iv) above; this will give you “gross total income”.

(vi) From gross total income, subtract, as per procedures prescribed by the law, “deductions” mentioned in Chapter VIA of the Income-tax Act. The result will be the total income. Besides, calculate agricultural income for rate purposes.



(b) Add surcharge as prescribed by the law on the above tax payable. (c) Add Education cess including secondary and higher education cess as prescribed on the tax payable plus

surcharge. (d) Claim relief(s) as prescribed by the law, on account of arrears or advances of salary received during the year or

of double taxation and calculate balance tax and surcharge payable. (e) Add interest payable as prescribed by the law to reach total tax, surcharge and interest payable. (f) Deduct the amount of prepaid taxes, if any, like “tax deducted at source”, “advance-tax” and “self-assessment-

tax”. The result will be the tax payable (or refundable). (3) Obligation to file return

(a) Every individual and HUF has to furnish the return of his income if his total income before allowing deductions under section 10A or section 10B or section 10BA or Chapter VI-A (i.e., if his gross total income referred to in item 10 of Part B-TI as increased by item 6 of Schedule 10A, item f of Schedule 10A and item f of Schedule 10A of this Form) exceeds the maximum amount which is not chargeable to income tax [Rs. 1,50,000/- in case of individuals below the age of 65 years (other than women) and HUF, Rs. 1,80,000/- in case of women below the age of 65 years, and Rs. 2,25,000/- in case of individuals who are of the age of 65 years or more at any time during the financial year 2008-09].


(c) The deduction under sections 10A, 10B, 80-IA, 80-IAB, 80-IB and 80-IC shall not be allowed unless the return has been filed on or before the due date.

11. SCHEME OF THE FORM The Scheme of this form follows the scheme of the law as outlined above in its basic form. The Form has been divided into two parts. It also has thirty-two schedules. The details of these parts and the schedules are as under:-

(i) Part-A has five sub-divisions as under-

a. Part A-GEN mainly seeks general information requiring identificatory and other data; b. Part A-BS seeks the balance sheet as on 31st March,2009; c. Part A-P&L seeks information regarding the Profit and loss account for the financial year 2008-09; d. Part A-OI seeks other information. It is optional in a case not liable for audit under section 44AB e. Part A-QD seeks information regarding quantitative details of the principal item of goods traded. It is optional in a

case not liable for audit under section 44AB. (ii) The second part, i.e, Part-B is regarding an outline of the total income and tax computation in respect of income

chargeable to tax.. (iii) After Part B, there is –

(a) a space for giving details of the transmission of the data of the form if the form has been furnished in accordance with the manner mentioned at instruction No.5(iii).

(b) a space for a statutory verification., (c) A space for filling the details if the return has been prepared by a Tax Return Preparer.

(iv) On pages 6 to 20, there are 32 schedules details of which are as under- (a) Schedule-S: Computation of income under the head Salaries. (b) Schedule-HP: Computation of income under the head Income from House Property (c) Schedule-BP: Computation of income under the head “profit and gains from business or profession” (d) Schedule-DPM: Computation of depreciation on plant and machinery under the Income-tax Act (e) Schedule DOA: Computation of depreciation on other assets under the Income-tax Act (f) Schedule DEP: Summary of depreciation on all the assets under the Income-tax Act


(g) Schedule DCG: Computation of deemed capital gains on sale of depreciable assets (h) Schedule ESR: Deduction under section 35 (expenditure on scientific research) (i) Schedule-CG: Computation of income under the head Capital gains. (j) Schedule-OS: Computation of income under the head Income from other sources. (k) Schedule-CYLA: Statement of income after set off of current year’s losses (l) Schedule-BFLA: Statement of income after set off of unabsorbed loss brought forward from earlier years. (m) Schedule- CFL: Statement of losses to be carried forward to future years. (n) Schedule- 10A: Computation of deduction under section 10A (o) Schedule- 10AA: Computation of deduction under section 10AA (p) Schedule- 10B: Computation of deduction under section 10B (q) Schedule- 10BA: Computation of deduction under section 10BA (r) Schedule- 80G: Details of donation entitled for deduction under section 80G (s) Schedule- 80IA: Computation of deduction under section 80IA (t) Schedule- 80IB: Computation of deduction under section 80IB (u) Schedule- 80IC/ 80-IE: Computation of deduction under section 80IC/ 80-IE. (v) Schedule-VIA: Statement of deductions (from total income) under Chapter VIA. (w) Schedule SPI: Statement of income arising to spouse/ minor child/ son’s wife or any other person or

association of persons to be included in the income of assessee in Schedules-HP, BP, CG and OS. (x) Schedule-SI: Statement of income which is chargeable to tax at special rates (y) Schedule-IF: Information regarding partnership firms in which assessee is a partner (z) Schedule-EI: Statement of Income not included in total income (exempt incomes) (aa) Schedule-AIR: Information regarding transactions which are reported through Annual Information Return

under section 285BA. (bb) Schedule-IT: Statement of payment of advance-tax and tax on self-assessment. (cc) Schedule-TDS1: Statement of tax deducted at source on salary. (dd) Schedule-TDS2: Statement of tax deducted at source on income other than salary. (ee) Schedule-TCS: Statement of tax collected at source



(ii) If any schedule is not applicable score across as “---NA---“. (iii) If any item is inapplicable, write “NA” against that item. (iv) Write “Nil” to denote nil figures. (v) Except as provided in the form, for a negative figure/ figure of loss, write “-” before such figure. (vi) All figures should be rounded off to the nearest one rupee. However, the figures for total income/ loss and tax

payable be finally rounded off to the nearest multiple of ten rupees. (2) Sequence for filling out parts and schedules

(i) Part A (ii) Schedules (iii) Part B (iv) Verification (v) Details relating to TRP and counter signature of TRP if return is prepared by him.

13. PART A-GEN

Most of the details to be filled out in Part-Gen of this form are self-explanatory. However, some of the details mentioned below are to be filled out as explained hereunder:- (a) e-mail address and phone number are optional; (b) In case of an individual, for “employer category”, Government category will include Central Government/ State


(c) The code for sections under which the return is filed be filled as per code given in instruction No.9(i). (d) In case the return is being filed by you in a representative capacity, please ensure to quote your PAN in item “PAN

of the representative assessee”. In case the PAN of the person being represented is not known or he has not got a PAN in India, the item for PAN in the first line of the return may be left blank. It may please be noted that in the first line of this form, the name of the person being represented be filled.

14. PART A-BS AND PART A-P&L

(a) The Balance Sheet as on 31st March, 2009 and the profit and loss account for financial year 2008-09 in the formats provided in these parts have to be filled in respect of proprietory business or profession carried out by you during the financial year 2008-09 if you were required to maintain accounts of the business or profession during the year.

(b) If the matters other than proprietory business are not being accounted for in the books of the proprietory business or profession, these need not to be included in the balance sheet and profit and loss account to be filled in this Part.

(c) In case, accounts of the business or profession were required to be audited, the items of balance sheet and profit and loss account filled in the these parts should broadly match with the audited balance sheet and profit and loss account.

(d) In case, you were not required to maintain accounts of the business or profession during the year, please fill out the details mentioned in these parts against portion ‘No account case’.


15. PART A- OI AND PART A-QD

(a) If the accounts of the business or profession were not required to be audited under section 44AB, it is optional to fill these parts.

(b) Where the accounts of the business or profession were required to be audited under section 44AB, the details to be filled in these parts which are also required to be reported in the report of audit by the auditors, should broadly match with the details as given in the report of audit.

(c) Purchases are to be shown exclusive of taxes and the details of taxes paid on the purchases are to be indicated separately in the relevant rows. However, where it is not possible to segregate the details of the different taxes paid on the purchases, the same may be included and shown in the details of purchases.

(d) In Part A-QD, the quantitative details may be furnished only in respect of principal items.

16. SCHEDULES

(a) Schedule-S- In case there were more than one employer during the year, please give the details of the last employer. Further, in case, there were more than one employer simultaneously during the year, please furnish the details of the employer you have got more salary. Fill the details of salary as given in TDS certificate(s) (Form 16) issued by the employer(s). However, if the income has not been computed correctly in Form No. 16, please make the correct computation and fill the same in this item. Further, in case there were more than one employer during the year, please furnish in this item the details in respect of total salaries from various employers.

(b) Schedule-HP,- In case, a single house property is owned by the assessee which is self-occupied and interest paid on the loan taken for the house property is to be claimed as a deduction. This schedule needs to be filled up. If there are more than three house properties, the details of remaining properties be filled in a separate sheet in the format of this Schedule. and attach this sheet with this return. The results of the income/ loss derived from all the properties have to be filled in last row of this Schedule. Following points also need to be clarified,-




(c) Schedule-BP,- (i) The computation in this schedule has to be started on the basis of profit before tax as shown in item 43

of Part-A- P&L. (ii) In case any item of addition or deduction not covered by the items mentioned in this schedule be filled

in residual items 21 and 26 of this schedule. (iii) In case accounts of business or profession are not maintained, the profit as entered into by you in item

50d of Part A-P&L. (iv) In case, agricultural income to be excluded on the basis of rule 7A, 7B or 7C (in business of growing

and manufacturing tea, coffee etc), it shall not be included in the item 5c of this schedule. (v) In A-37, net profit or loss from business or profession is to be computed, only in special cases, e.g.

business of growing and manufacturing tea, coffee, etc., where rules 7A, 7B or 7C is applicable otherwise, the figure of profit/ loss as computed is A-36 may be entered.

(vi) Income earned by the assessee by way of salary, commission, bonus, interest, etc. from other firms as if in the capacity of a partner, which has not been included in the profit and loss account of the proprietory business needs to be disclosed in item No. A23 in Schedule BP.

(vii) Item C of this schedule computes the total of profit or loss from business or profession (other than speculative business and profit or loss from speculative business) (item A37 + item B41). Please note that if balance in item B41 in respect of speculative business is a loss, same shall not be set-off against profit from non-speculative business. In such situation, only the figures of item A37 be entered in item C.

(d) Schedule-DPM, Schedule DOA, Schedule DEP and Schedule DCG, - For sake of convenience, computation of depreciation allowable under the Income-tax Act [other than in case of an undertaking generating electricity which may at its option claim deprecation on straight line method under section 32(1)(i)], has been divided into two parts i.e. in schedules DPM (depreciation on plant and machinery )and DOA (depreciation on other assets). The summery of depreciation as per these schedules has to be shown in schedule DEP. Deemed short term capital gain, if any as computed in schedule DPM and DOA has to be entered into schedule DCG.

(e) Schedule ESR: Deduction under section 35 (expenditure on scientific research), - In column (2) of this schedule, please furnish the details of deduction to which you are entitled under

provisions of this section. In column (1), please enter the amounts of expenses of the nature covered by section 35 which are, if, debited to profit and loss account. Please note that no deduction for depreciation is available in respect of capital asset for which deduction under section 35(1)(iv) has been claimed.

(f) Schedule-CG,- simpletaxindia.blogspot.com

(i) If more than one short-term capital asset has been transferred, make the combined computation for all the assets. Similarly, make the combined computation for all the assets if more than one long-term capital asset has been transferred.


Sl.No. Financial Year Cost Inflation Index Sl.No. Financial Year Cost Inflation Index 1. 1981-82 100 15. 1995-96 281 2. 1982-83 109 16. 1996-97 305 3. 1983-84 116 17. 1997-98 331 4. 1984-85 125 18. 1998-99 351 5. 1985-86 133 19. 1999-00 389 6. 1986-87 140 20. 2000-01 406 7. 1987-88 150 21. 2001-02 426 8. 1988-89 161 22. 2002-03 447 9. 1989-90 172 23. 2003-04 463 10. 1990-91 182 24. 2004-05 480 11. 1991-92 199 25. 2005-06 497 12. 1992-93 223 26. 2006-07 519 13. 1993-94 244 27. 2007-08 551 14. 1994-95 259 28. 2008-09 582

(iii) Sections 54/54B/54D/54EC/ 54F/54G/54GA mentioned in this schedule provides exemption on capital

gains subject to fulfillment of certain conditions. Exemption under some of these sections is available only in respect of long-term capital gains. Therefore, please ensure that you are claiming the benefit of any of these sections correctly in accordance with the provisions of law.


(g) Schedule-OS,- (i) Against item 1a and 1b, enter the details of gross income by way of dividend and interest which is not




(A) (iv) Winnings from lotteries, crossword puzzles, races, etc., are subject to special rates of tax; hence a separate item is provided and the income from these can not be adjusted against the losses arising under the head Income from other sources.

(v) Item 5 of this Schedule computes the total income chargeable under the head “Income from other sources” (item 1g + item 2 + item 3 + item 4c). If balance in item 4c from owning and maintaining race horses is a loss, please enter 0 and enter the total of item 3 in item 5 only.

(h) Schedule-CYLA,- (i) Mention only positive incomes of the current year in column 1, headwise, in the relevant rows. (ii) Mention total current year’s loss(es), if any, from house property, business or profession and other

sources (other than losses from race horses) in the first row against the heading loss to be adjusted under the respective head. These losses are to be set off against income under other heads in accordance with the provisions of section 71. The amount set off against the income of respective heads has to be entered into in columns 2, 3 and 4, in the relevant rows.




rows. (iii) The end result of the set off will be entered in column 3 in respective heads. The total of column 3 shall

be entered in row viii which shall give the amount of gross total income. (iv) The total amount of brought forward losses set off during the year shall be entered in column 2 of row

vii.


(j) Schedule-CFL,- (i) In this Schedule, the summary of losses carried from earlier years, set off during the year and to be

carried forward for set off against income of future years is to be entered. (ii) The losses under the head “house property”, ‘profit and gains of business or profession” short term

capital loss and long term capital loss, are allowed to be carried forward for 8 years. However, loss from owning and maintaining race horses can be carried forward only for 4 assessment years.

(k) Schedule- 10A,- (i) If there are more than one undertaking entitled for deduction under this section, please enter the details

of deduction for each undertaking separately. (ii) The amount of deduction under this section for an undertaking shall be as per item 17 of Form No.56F

being the report of audit under section 10A. (l) Schedule-10AA,-

If there are more than one undertaking entitled for deduction under this section, please enter the details of deduction for each undertaking separately.

(m) Schedule-10B,- (i) If there are more than one undertaking entitled for deduction under this section, please enter the details

of deduction for each undertaking separately. (ii) The amount of deduction under this section for an undertaking shall be as per item 17 of Form No.56G

being the report of audit under section 10B. (n) Schedule- 10BA,-

(i) If there are more than one undertaking entitled for deduction under this section, please enter the details of deduction for each undertaking separately.

(ii) The amount of deduction under this section for an undertaking shall be as per item 15 of Form No.56H being the report of audit under section 10BA.

(o) Schedule- 80G,- (i) In this Schedule, the details of donation given by you which are entitled for deduction under section

80G have to be filled. (ii) In Part-A of this Schedule, the details of donations which are entitled for 100% deduction are to be

filled in. Section 80G(1)(i) read with section 80G(2) contains the list of funds/ institutions donations to which are eligible for 100% deduction in hands of the donar.

(iii) In Pat-B of this Schedule, the details of donations which are entitled for 50% deduction are to be filled in where such donations have been given to the funds/ institutions which are not required to be approved by an authority for this purpose. Section 80G(1)(i) read with section 80G(2) also contains the list of such funds/ institutions.

(iv) In Part-C of this Schedule, the details of donations to the funds/ institutions which are approved by the Commissioner of Income-tax for this purpose.

(v) Where the aggregate donations referred to in Part-C and donations referred to in sub-clauses (v), (vi), (via) and (vii) of clause (a) and in clauses (b) and (c)of section 80G(2) exceeds 10% of total income (before deduction under other provisions of Chapter VI-A), the excess amount shall be ignored for purpose of computing deduction under section 80G.

(p) Schedule- 80IA, Schedule- 80IB, Schedule- 80IC and Schedule-80-IE - (i) If there are more than one undertaking entitled for deduction under any of these sections, please enter

the details of deduction in relevant schedule for each undertaking separately. (ii) The amount of deduction for an undertaking shall be as per item 30 of Form No.10CCB being the report

of audit under section 80-IA/ 80-IB/ 80-IC and 80-IE. (q) Schedule-VIA,-

(i) The total of the deductions allowable is limited to the amount of gross total income. For details of deductions allowable, the provisions of the Chapter VI-A may kindly be referred to.

(ii) For deductions under sections 80-IA, 80-IB, 80-IC and 80-IE the amount as shown in Schedules 80-IA, 80-IB and 80-IC be filled. The amount of deduction to be claimed under section 80-ID may be shown in this Schedule itself.

(iii) Details of other deductions which are available are as under:- (i) Section 80C (Some of the major items for deduction under this section are- amount paid or

deposited towards life insurance, contribution to Provident Fund set up by the Government, recognised Provident Fund, contribution by the assessee to an approved superannuation fund, subscription to National Savings Certificates, tuition fees, payment/ repayment for purposes of purchase or construction of a residential house and many other investments)(for full list, please refer to section 80C of the Income-tax Act) (Please note that as provided in section 80CCE, aggregate amount of deduction under section 80C, 80CCC and 80CCD shall not exceed one lakh rupees).

(ii) Section 80CCC (Deduction in respect of contributions to certain pension funds). (iii) Section 80CCD (Deduction in respect of contributions to pension scheme of Central

Government) (iv) Section 80D (Deduction in respect of Medical Insurance Premium) (v) Section 80DD (Deduction in respect of maintenance including medical treatment of dependent

who is a person with disability) (vi) Section 80DDB (Deduction in respect of medical treatment, etc.) (vii) Section 80E (Deduction in respect of interest on loan taken for higher education) (viii) Section 80G (Deduction in respect of donations to certain funds, charitable institutions, etc.) (ix) Section 80GG (Deduction in respect of rents paid)


(x) Section 80GGC (Deduction in respect of contributions given by any person to political parties) (xi) Section 80JJA (Deduction in respect and gains from business of collecting and processing of

bio-degradable waste) (xii) Section 80QQB (Deduction in respect of royalty income, etc., of authors of certain books other

than text books) (xiii) Section 80RRB (Deduction in respect of royalty on patents) (xiv) Section 80U (Deduction in case of a person with disability)

(r) Schedule-SPI,- (i) Furnish the details of income of spouse, minor child, etc., if to be included in your income in accordance

with provisions of Chapter V of the Income-tax Act. (ii) The income entered into this Schedule has to be included in the respective head. (iii) Section 10(32) provides exemption to extent of Rs. 1,500/- in respect of minor’s income for the purpose

of clubbing. Therefore, exclude Rs. 1,500/- from the income of the minor while clubbing the income of the minor in the respective head. However, if income of the minor is to be clubbed in various heads, total exclusion should not exceed Rs. 1,500/-.

(s) Schedule-SI,- Mention the income included in total income which is chargeable to tax at special rates. The codes for relevant

section and special rate of taxes are given in Instruction No.9(iii). (t) Schedule-IF,-

(i) This Schedule has to be filled for each firm in which you are partner. (ii) In case you are partner in more than 5 firms, a separate sheet may be enclosed giving the details in same

format. (iii) In column 1 of the Schedule, furnish the name of the firm and in column 2 furnish the PAN No. of the

firm in which the assessee is a partner. In column 3 and 4, the percentage share and amount of share in the profit of the firm as computed in accordance with the provisions of the Income-tax Act. Such share is exempt from tax in hands of the partner.

(iv) In column 5, please furnish the amount of capital balance (including the capital on which you are entitled for an interest) in the firm in which you are partner.

(u) Schedule-EI,- Furnish the details of income like agriculture income, interest, dividend, etc. which is exempt from tax.

(v) Schedule-AIR,- In this Schedule, please fill out the details as explained in Instruction No.9(iii);

(w) Schedule-IT,- (i) In this schedule, fill out the details of payment of advance income-tax and income-tax on self-

assessment. (ii) The details of BSR Code of the bank branch (7 digits), date of deposit, challan serial no., and amount

paid should be filled out from the acknowledgement counterfoil. (x) Schedules-TDS1 and TDS2,-



(iii) It may please be noted that the TDS certificates are not to be annexed with the Return Form. (iv) In order to enable the Income Tax Department to provide accurate, quicker and full credit for taxes

deducted or collected at source, the taxpayer must ensure to quote the Unique Transaction Number (UTN) in respect of every TDS transaction. In general the UTN would be printed on the TDS certificate issued by the deductor. However, in case it is not available on the certificate, the taxpayer should separately obtain the UTN either from the deductor or from the website of National Securities Depository Limited (NSDL) at http://www.tin-nsdl.com.

(y) Schedule TCS,- (i) In this Schedule, fill the details of tax collected at source on the basis of TCS certificates (Form No. 27D)

issued by the Collector. (ii) In case rows provided in these Schedules are not sufficient, please attach a table in same format. (iii) It may please be noted that the TDS certificates are not to be annexed with the Return Form. (iv) In order to enable the Income Tax Department to provide accurate, quicker and full credit for taxes

collected at source, the taxpayer must ensure to quote the Unique Transaction Number (UTN) in respect of every TCS transaction. In general the UTN would be printed on the TCS certificate issued by the collector. However, in case it is not available on the certificate, the taxpayer should separately obtain the UTN either from the collector or from the website of National Securities Depository Limited (NSDL) at http://www.tin-nsdl.com.


(i) In this part the summary of income computed under various heads and as set off in Schedule CFLA and Schedule

BFLA is to be entered. (ii) Every entry which have to be filled on basis of Schedules have been crossed referenced and hence doesn’t need any

further clarification.



(a) in item 1a , fill the details of gross tax liability to be computed at the applicable rate. The tax liability has to be computed at the rates given as under:-





(iii) In case of individuals who are of the age of 65 years or more at any time during the financial year 2008-09- Income (In Rs.) Tax Liability (In Rs.) Upto Rs. 2,25,000 Nil Between Rs. 2,25,001 – Rs. 3,00,000 10% of income in excess of Rs. 2,25,000 Between Rs. 3,00,001 – Rs. 5,00,000 Rs. 7,500 + 20% of income in excess of Rs. 3,00,000 Above Rs.5,00,000 Rs. 47,500 + 30% of income in excess of Rs. 5,00,000


(c) In item No. 3, calculate the education cess including secondary and higher education at the rate of three per cent of [item No.1c+ item No. 2]


(e) In item 11b, please furnish the details in accordance with Form 16 issued by the employer(s) in respect of salary income and Form 16A issued by any other person in respect of other income and Form 27D as entered in Schedules TDS-1, TDS-2 and TCS.


19. VERIFICATION

(a) In case the return is to be furnished in a paper format or electronically under digital signature or in a bar coded

return format, please fill up the required information in the Verification. Strike out whatever is not applicable. Please ensure that the verification has been signed before furnishing the return. Write the designation of the person signing the return.




(a) This return can be prepared by a Tax Return Preparer (TRP) also in accordance with the Tax Return Preparer

Scheme, 2006 dated 28th November, 2006. (b) If the return has been prepared by him, the relevant details have to be filled by him in item No.18 below verification

and the return has to be countersigned by him in the space provided in the said item. (c) The Tax Return Preparer is entitled to a maximum fees of Rs. 250/- from the taxpayer. TRP is also entitled to a

reimbursement from the Government for following three years as under:- (i) 3 per cent of the tax paid on the income declared in the return for the first eligible assessment year (first

eligible assessment year means the assessment year if no return has been furnished for at least three assessment years preceding to that assessment year);





Assessment Year

FOR

M


( Including Fringe Benefit Tax Return) [For firms, AOPs and BOIs]

(Please see rule 12 of the Income-tax Rules,1962) (Also see attached instructions) 2 0 0 9 - 1 0

Part A-GEN GENERAL

PAN Name

Is there any change in the name? If yes, please furnish the old name

Date of formation (DD/MM/YYYY) Flat/Door/Block No Name Of Premises/Building/Village

/ / Road/Street/Post Office Area/Locality Status (firm-1, local authority-

2,cooperative bank-3, other cooperative society-4, any other AOP/BOP artificial juridical person-5)

Pin code Town/City/District State

(STD code)-Phone Number

Income-tax

PER

SON

AL

INFO

RM

AT

ION

Email Address

( ) Area Code AO Type Range Code AO NoDesignation of Assessing Officer

Return filed under section (Enter Code) [Please see instruction number9(i)] Fringe

Benefits

Whether original or Revised return? (Tick) Original Revised If revised, then enter Receipt No and Date of filing original

return (DD/MM/YYYY) / /

Residential Status (Tick) Resident Non-Resident In the case of non-resident, is there a permanent establishment (PE) in India (Tick) Yes No

Whether this return is being filed by a representative assessee? (Tick) Yes No If yes, please furnish following information -

(a) Name of the representative (b) Address of the representative

FILI

NG

ST

AT

US

( c) Permanent Account Number (PAN) of the representative Are you liable to maintain accounts as per section 44AA? (Tick) Yes No Are you liable for audit under section 44AB? (Tick) Yes No, If yes, furnish following information- (a) Name of the auditor signing the tax audit report

(b) Membership no. of the auditor

(c) Name of the auditor (proprietorship/ firm)

(d) Permanent Account Number (PAN) of the proprietorship/ firm AU

DIT

INFO

RM

ATI

ON

(e) Date of audit report. For Office Use Only



A. Whether there was any change during the previous year in the partners/members of the firm/AOP/BOI (Tick) Yes No(Income of societies and cooperative banks give details of Managing Committee) B. Particulars of persons who were partners/ members in the firm/AOP/BOI on 31st day of March, 2009

S.No. Name and Address Percentage of share (if determinate) PAN

PAR

TNER

S/ M

EM

BER

S IN

FOR

MA

TIO

N

Nature of business or profession, if more than one business or profession indicate the three main activities/ products

S.No. Code [Please see instruction No.9(ii)] Description

(i)

(ii)

NA

TY

UR

E O

F B

USI

NE

SS

(iii)

Part A-BS BALANCE SHEET AS ON 31ST DAY OF MARCH, 2009(fill items 1 to 5 in a case where regular books of

accounts are maintained, otherwise fill item 6) 1 Partners’ / members’ fund

a Partners’ / members’ capital a

b Reserves and Surplus i Revaluation Reserve bi ii Capital Reserve bii

iii Statutory Reserve biii iv Any other Reserve biv

v Total (bi + bii + biii + biv) bv SOU

RC

ES

OF

FUN

DS

c Total partners’/ members’ fund (a + bv) 1c

2 Loan funds

a Secured loans i Foreign Currency Loans ai ii Rupee Loans

A From Banks iiA B From others iiB

C Total ( iiA + iiB) iiC

iii Total (ai + iiC) aiii

b Unsecured loans (including deposits) i From Banks bi ii From others bii

iii Total (bi + bii) biii

c Total Loan Funds (aiii + biii) 2c







i Government and other Securities - Quoted ai

ii Government and other Securities – Unquoted aii


b Short-term investments i Equity Shares bi ii Preference Shares bii iii Debenture biii



3 Current assets, loans and advances a Current assets

i Inventories




ii Sundry Debtors aii




v Total current assets (iE +aii + iiiC + aiv) av


i Advances recoverable in cash or in kind or for value to be received bi

ii Deposits, loans and advances to corporate and others bii

iii Balance with Revenue Authorities biii


c Total (av + bv) 3c


i Current liabilities A Sundry Creditors iA B Liability for Leased Assets iB C Interest Accrued on above iC D Interest accrued but not due on loans iD


ii Provisions

A Provision for Income Tax iiA

B Provision for Fringe Benefit Tax iiB

C Provision for Wealth Tax iiC

APP

LIC

AT

ION

OF

FUN

DS

D Provision for Leave encashment/Superannuation/Gratuity iiD


E Other Provisions iiE

H Total (iiA + iiB + iiC + iiD + iiE + iiF + iiG) iiF

iii Total (iE + iiF) diii


4 a Miscellaneous expenditure not written off or adjusted 4a b Deferred tax asset 4b c Profit and loss account/ accumulated balance 4c


5 Total, application of funds (1e + 2c + 3e +4d) 5 6 In a case where regular books of account of business or profession are not maintained,

furnish the following information as on 31st day of March, 2009, in respect of business or profession

a Amount of total sundry debtors 6a

b Amount of total sundry creditors 6b

c Amount of total stock-in-trade 6c

NO

AC

CO

UN

T

CA

SE

d Amount of the cash balance 6d

Part A-P& L Profit and Loss Account for the previous year 2008-09(fill items 1 to 51 in a case where regular books of accounts

are maintained, otherwise fill item 52) 1 Sales/ Gross receipts of business or profession


2 Duties, taxes and cess, received or receivable, in respect of goods and services sold or supplieda Union Excise duties 2a b Service tax 2b c VAT/ Sales tax 2c d Any other duty, tax and cess 2d





k Total of other income [(i)to(x)] 3k

4 Closing Stock 4

CR

ED

ITS

TO

PR

OFI

T A

ND

LO

SS

AC

CO

UN

T

5 Totals of credits to profit and loss account (1+2e+3k+4) 5

6 Opening Stock 6




9 Freight 9

10 Consumption of stores and spare parts 10 DE

BIT

S T

O

PRO

FIT

AN

D L

OSS

A

CC

OU

NT



12 Rents 12





k Fringe benefit tax paid or payable 15k

l Total compensation to employees (15a+15b+15c+15d+15e+15f+15g+15h+15i+15j+15k) 15l

16 Insurance a Medical Insurance 16a b Life Insurance 16b c Keyman’s Insurance 16c d Other Insurance 16d



18 Entertainment 18

19 Hospitality 19

20 Conference 20


22 Advertisement 22

23 Commission 23

24 Hotel , boarding and Lodging 24





29 Club expenses 29


31 Scholarship 31

32 Gift 32

33 Donation 33


a Union excise duty 34a b Service tax 34b c VAT/ Sales tax 34c d Cess 34d e Any other rate, tax, duty or cess including STT 34e


35 Audit fee 35


37 Bad debts 37




41 Interest 41 simpletaxindia.blogspot.com

42 Depreciation 42



45 Provision for Fringe benefit Tax 45

46 Provision for Deferred Tax 46

47 Profit after tax (43 – 44 – 45 – 46) 47



50 Transferred to reserves and surplus 50

PRO

VIS

ION

S FO

R T

AX

AN

D

APP

RO

PRIA

TIO

NS

51 Balance carried to balance sheet in partner’s account (49 – 50) 51

52 In a case where regular books of account of business or profession are not maintained, furnish the following information for previous year 2008-09 in respect of business or profession

a Gross receipts 52a b Gross profit 52b c Expenses 52c N

O A

CC

OU

NT

C

ASE

d Net profit 52d

Part A- OI Other Information (optional in a case not liable for audit under section 44AB)

1 Method of accounting employed in the previous year (Tick) mercantile cash 2 Is there any change in method of accounting (Tick) Yes No 3 Effect on the profit because of deviation, if any, in the method of accounting employed in the



a Raw Material (if at cost or market rates whichever is less write 1, if at cost write 2, if at market rate write 3) b Finished goods (if at cost or market rates whichever is less write 1, if at cost write 2, if at market rate write 3) c Is there any change in stock valuation method (if Yes write 2, and if No write 2)

d Effect on the profit or loss because of deviation, if any, from the method of valuation prescribed under section 145A 4d

5 Amounts not credited to the profit and loss account, being a the items falling within the scope of section 28 5a b the proforma credits, drawbacks, refund of duty of

customs or excise or service tax, or refund of sales tax or value added tax, where such credits, drawbacks or refunds are admitted as due by the authorities concerned

5b

c escalation claims accepted during the previous year 5c d Any other item of income 5d e Capital receipt, if any 5e





6c


e Amount of discount on a zero-coupon bond 6e f Amount of contributions to a recognised provident

fund 6f



i Amount of contributions to any other fund 6i j Amount of bad and doubtful debts 6j k Provision for bad and doubtful debts 6k

OT

HE

R IN

FOR

MA

TIO

N





6n





7b








a


Aa





f Any other disallowance Af

g Total amount disallowable under section 40(total of Aa to Af) 8Ag


8B


40A(2)(b) 9a

b Amount paid otherwise than by account payee cheque or account payee bank draft disallowable under section 40A(3) – 100% disallowance

9b



9d


f Total amount disallowable under section 40A (total of 9a to 9e) 9f 10 Any amount disallowed under section 43B in any preceding previous year but allowable during


any law 10a


10b



10d



g Total amount allowable under section 43B (total of 10a to 10f) 10g


11 Any amount debited to profit and loss account of the previous year but disallowable under section 43B:-

a Any sum in the nature of tax, duty, cess or fee under any law 11a


11b



11d




a Union Excise Duty 12a b Service tax 12b c VAT/sales tax 12c d Any other tax 12d

e Total amount outstanding (total of 12a to 12d) 12e 13 Amounts deemed to be profits and gains under section 33AB or 33ABA or 33AC 13 14 Any amount of profit chargeable to tax under section 41 14 15 Amount of income or expenditure of prior period credited or debited to the profit and loss

account (net) 15





4 Closing stock 4


6 Raw materials

a Opening stock 6a



d Sales during the previous year 6d

e Closing stock 6e f Yield finished products 6f



a opening stock 7a




e closing stock 7e

QU

AN

TIT

IVE

DE

TA

ILS


Part B - TI Computation of total income

1 Income from house property (4c of Schedule-HP) (enter nil if loss) 1 2 Profits and gains from business or profession

i Profit and gains from business other than speculative business (A37 of Schedule-BP)

2i


2ii

TO

TA

L IN

CO

ME

iii Total (2i + 2ii) (enter nil, if loss and carry this figure to loss to Schedule CYLA) 2iii simpletaxindia.blogspot.com

3 Capital gains a Short term

i Short-term (under section 111A) (A7 of Schedule-CG) (enter nil if loss)

3ai



c Total capital gains (3aiii + 3b) (take the figure adjusted to Schedule CYLA) 3c 4 Income from other sources

a from sources other than from owning race horses (3 of Schedule OS)

4a


4b

c Total (4a + 4b) 4c 5 Total (1 + 2c + 3c +4c) 5 6 Losses of current year to be set off against 5 (total of 2vii,3vii and 4vii of Schedule CYLA) 6 7 Balance after set off current year losses (5 – 6) 7 8 Brought forward losses to be set off losses against 5 (total of 2vii, 3vii and 4vii of Schedule BFLA) 8 9 Gross Total income (7 – 8) (also 5vii of Schedule BFLA) 9

10 Deductions under Chapter VI-A ( k of Schedule VIA) 10 11 Total income (9 – 10) 11 12 Net agricultural income/ any other income for rate purpose (4 of Schedule EI) 12 13 ‘Aggregate income’ (11 + 12) 13 14 Losses of current year to be carried forward (total of xi of Schedule CFL) 14


1 Tax payable on total income a Tax at normal rates 1a

b Tax at special rates (11 of Schedule-SI) 1b

2 Tax Payable on Total Income (1a + 1b) 2 3 Surcharge on 2 3 4 Education cess, including secondary and higher education cess on (2 + 3) 4 5 Gross tax liability (2 + 3 + 4 ) 5 6 Tax relief

a Section 90 6a b Section 91 6b

c Total (6a + 6b) 6c 7 Net tax liability (5 – 6c) 7 8 Interest payable



CO

MPU

TA

TIO

N O

F T

AX

LIA

BIL

ITY


a Advance Tax (from Schedule-IT) 10a b TDS (column7 of Schedule-TDS2) 10b c TCS (column 7 of Schedule-TCS) 10c d Self Assessment Tax (from Schedule-IT) 10d

e Total Taxes Paid (10a+10b+10c + 10d) 10e 11 Amount payable (Enter if 9 is greater than 10e, else enter 0) (9 – 10e) 11

TA

XE

S PA

ID

12 Refund (If 10e is greater than 9, also give the bank account details in Schedule-BA) 12


PART-C Part C Computation of Fringe Benefits and fringe benefit tax

1 Value of fringe benefits

a for first quarter 1a

b for second quarter 1b

c for third quarter 1c

d for fourth quarter 1d

e Total fringe benefits (1a + 1b + 1c + 1d) ( also 24 iv of Schedule-FB) 1e 2 Fringe benefit tax payable [30% of 1e] 2 3 Surcharge on 2 3 4 Education cess, secondary and higher education cess on (2 + 3) 4 5 Total fringe benefit tax liability (2 + 3 + 4) 5 6 Interest payable

a For default in payment of advance tax (section 115WJ (3)

6a

b For default in filing of the return ( section 115WK) 6b

c Total interest payable 6c 7 Aggregate liability (5 + 6c) 7 8 Taxes paid

a Advance fringe benefit tax (from Schedule-FBT) 8a b On self-assessment (from Schedule-FBT) 8b

c Total Taxes Paid (8a + 8b) 8c 9 Tax Payable (Enter if 7 is greater than 8c, else enter 0). 9

CO

MPU

TA

TIO

N O

F FR

ING

E B

EN

EFI

TS

AN

D F

RIN

GE

BE

NE

FIT

TA

X

10 Refund (enter If 8c is greater than 7, else enter 0) also give the bank account details in Schedule-BA 10

VERIFICATION I, son/ daughter of , holding permanent account number ____________ solemnly declare that to the best of my knowledge and belief, the information given in the return and the schedules thereto is correct and complete and that the amount of total income/ fringe benefits and other particulars shown therein are truly stated and are in accordance with the provisions of the Income-tax Act, 1961, in respect of income and fringe benefits chargeable to income-tax for the previous year relevant to the assessment year 2009-2010. I further declare that I am making this return in my capacity as ___________ and I am also competent to make this return and verify it. Place Date Sign here

Schedule BA In case of refund, please furnish the following information in respect of bank account in which refund is to be credited



Schedule HP Details of Income from House Property (Please refer instructions) PIN Code


Town/ City State








Town/ City State

PAN of Tenant (optional)

HO

USE

PR

OPE

RTY

(Tick) if let out Name of Tenant








Town/ City State








c Total (4a + 4b + 1i + 2i + 3i) 4c

Schedule BP Computation of income from business or profession A From business or profession other than speculative business

1 Profit before tax as per profit and loss account (item 43 or item 52d of Part A-P&L ) 1 2 Net profit or loss from speculative business included

in 1 2


3


4

5 Income credited to Profit and Loss account (included in 1)which is exempt a share of income from firm(s) 5a b Share of income from AOP/ BOI 5b

c Any other exempt income 5c

d Total exempt income 5d




8

9 Total (7 + 8) 9 10 Adjusted profit or loss (6+9) 10 11 Depreciation debited to profit and loss account included in 9 11 12 Depreciation allowable under Income-tax Act


12i


12ii




15

INC

OM

E F

RO

M B

USI

NE

SS O

R P

RO

FESS

ION


16



17


18


19


72A/80HHD/80-IA 21


22

23 Any other income not included in profit and loss account/any other expense not allowable (including income from salary, commission, bonus and interest from firms in which assessee is a partner)

23


amount debited to profit and loss account (item vii(4) of Schedule ESR)

26


27


28


account 29a



29c



i Section 44AD 33i ii Section 44AE 33ii iii Section 44AF 33iii iv Section 44B 33iv v Section 44BB 33v vi Section 44BBA 33vi vii Section 44BBB 33vii viii Section 44D 33

viii

ix Section 44DA 33ix x Chapter-XII-G 33 x xi First Schedule of Income-tax Act 33xi

xii Total (33i to 33xi) 33xii

34 Profit or loss before deduction under section 10A/10AA/10B/10BA (32 + 33x) 34 35 Deductions under section-



36 Net profit or loss from business or profession other than speculative business (34 – 35v) 36

37 Net Profit or loss from business or profession (same as above in 36 except in case of special business, after applying rule 7A, 7B or 7C)

A37

B Computation of income from speculative business 38 Net profit or loss from speculative business as per profit or loss account 38 39 Additions in accordance with section 28 to 44DA 39

40 Deductions in accordance with section 28 to 44DA 40


41 Profit or loss from speculative business (38+39-40) B41 C Income chargeable under the head ‘Profits and gains’ (A37+B41) C


1 Block of assets Plant and machinery

15 30 40 50 60 80 100 2 Rate (%)

(i) (ii) (iii) (iv) (v) (vi) (vii) 3 Written down value on the first day of

previous year






9 Amount on which depreciation at halfrate to be allowed (7-8) (enter 0, if result in negative)




DE

PREC

IAT

ION

ON

PL

AN

T A

ND

MA

CH

INE

RY


Schedule DOA Depreciation on other assets

1 Block of assets Building Furniture and fittings

Intangible assets

Ships

5 10 100 10 25 20 2 Rate (%)

(i) (ii) (iii) (iv) (v) (vi) 3 Written down value on the first day of

previous year






9 Amount on which depreciation at halfrate to be allowed (7-8) (enter 0, if result in negative)



DE

PRE

CIA

TIO

N O

N O

TH

ER A

SSE

TS

16 Capital gains/ loss under section 50 (5 + 8 -3-4 -7 -15) (enter negative only if block ceases to exist)







1b


1c


1d


1e


1f


1g

h Total depreciation on plant and machinery ( 1a + 1b + 1c + 1d+ 1e + 1f + 1g ) 1h 2 Building


2a


2b


2c

d Total depreciation on building (total of 2a + 2b + 2c) 2d 3 Furniture and fittings(Schedule DOA- 14 iv) 3 4 Intangible assets (Schedule DOA- 14 v) 4 5 Ships (Schedule DOA- 14 vi) 5

SUM

MA

RY

OF

DE

PRE

CIA

TIO

N O

N A

SSE

TS


Schedule DCG Deemed Capital Gains on sale of depreciable assets


(Schedule DPM - 16i) 1a


1b


1c


1d


1e


1f


1g

h Total ( 1a +1b + 1c + 1d + 1e + 1f + 1g) 1h 2 Building


2a


2b


2c

d Total ( 2a + 2b + 2c) 2d 3 Furniture and fittings ( Schedule DOA- 16iv) 3 4 Intangible assets (Schedule DOA- 16v) 4 5 Ships (Schedule DOA- 16vi) 5

6 Total ( 1h+2d+3+4+5) 6


Schedule ESR Deduction under section 35 Sl No

Expenditure of the nature

referred to in section (1)


(2)


(3)




1 From slump sale a Full value of consideration 1a b Net worth of the under taking or division 1b c Short term capital gains from slump sale 1c d Deduction under sections 54B/54D 1d

e Net short term capital gains from slum sale (1c – 1d) 1e 2 From assets in case of non-resident to which first proviso to section 48 applicable 2 3 From assets in the case of others



iv Total ( bi + bii + biii) biv c Balance (3a – biv) 3c d Loss, if any, to be ignored under section 94(7) or



f Short-term capital gain (3c + 3d – 3e) (enter nil, if loss) 3f 4 Deemed short capital gain on depreciable assets (6 of Schedule-DCG) 4 5 Amount deemed to be short term capital gains under sections 54B/54D/54EC/ 54ED/54G/

54GA 5

6 Total short term capital gain (1e + 2 +3f +4 +5) 6 7 Short term capital gain under section 111A included in 6 7

8 Short term capital gain other than referred to in section 111A (6 – 7) A8 B Long term capital gain

1 From slump sale a Full value of consideration 1a

CA

PIT

AL

GA

INS

b Net worth of the under taking or division 1b

c Long term capital gains from slump sale 1c d Deduction under sections 54B/54D/54EC/54G/

54GA 1d




iv Total (bi + bii +biii) biv c Balance (3a – biv) 3c d Deduction under sections 54B/54D/54EC/54G/

54GA 3d



i Cost of acquisition without indexation bi

ii Cost of improvement without indexation bii


iii Expenditure on transfer biii

iv Total (bi + bii +biii) biv c Balance (4a – biv) 4c d Deduction under sections 54B/54D/54EC/54G/

54GA 4d

e Net balance 4e 5 Amount deemed to be long term capital gains under sections 54B/54D/54EC/54ED/54G/

54GA 5


B6


Date

Upto 15/9 (i)

16/9 to 15/12 (ii)

16/12 to 15/3 (iii)

16/3 to 31/3 (iv)

1 Long- term

2 Short-term

Schedule OS Income from other sources 1 Income other than from owning race horse(s):-

a Dividends, Gross 1a b Interest, Gross 1b c Rental income from machinery, plants, buildings, 1c d Others, Gross 1d

e Total (1a + 1b + 1c + 1d) 1e

f Deductions under section 57:- i Expenses fi ii Depreciation fii iii Total fiii

g Balance (1e – fiii) 1g

2 Winnings from lotteries, crossword puzzles, races, etc. 2

3 Income from other sources (other than from owning race horses) (1g + 2) (enter 1g as nil if loss) 3



OT

HE

R S

OU

RC

ES




set off









after set off


1 2 3 4 5=1-2-3-4

Sl.No

Loss to be adjusted

i House property





vi Total loss set-off

CU

RR

EN

T Y

EA

R L

OSS

AD

JUST

ME

NT

vii Loss remaining after set-off


Schedule BFLA Details of Income after Set off of Brought Forward Losses of earlier years Income after set off, if any, of current year’s





35(4) set off


after set off

Sl. No.


1 2 3 4 5

i House property




vi Total BRO

UG

HT

FOR

WA

RD

LO

SS

AD

JUST

ME

NT

vii Total (i5 + ii5 + iii5 + iv5+v5)

Schedule CFL Details of Losses to be carried forward to future years Sl. No.


House property loss

Loss from business other than loss from

speculative business


business




owning race horses)

i 2001-02

ii 2002-03

iii 2003-04

iv 2004-05

v 2005-06

vi 2006-07

vii 2007-08

viii 2008-09




CA

RR

Y F

OR

WA

RD

OF

LO

SS


Schedule 10A Deduction under section 10A

1 Deduction in respect of units located in Software Technology Park a Undertaking No.1 1a b Undertaking No.2 1b c Undertaking No.3 1c d Undertaking No.4 1d e Undertaking No.5 1e

f Total (1a + 1b+ 1c + 1d + 1e) 1f







a Undertaking No.1 5a

DED

UC

TIO

N U

/S 1

0A

b Undertaking No.2 5b


c Undertaking No.3 5c d Total (5a + 5b+ 5c) 5d

6 Total deduction under section 10A (1f + 2d + 3d + 4d + 5d) 6

Schedule 10AA Deduction under section 10AA Deductions in respect of units located in Special Economic Zone

a Undertaking No.1 a b Undertaking No.2 b c Undertaking No.3 c

DE

DU

CT

ION

U

/S 1

0AA


Schedule 10B Deduction under section 10B

Deduction in respect of hundred percent Export Oriented units a Undertaking No.1 a b Undertaking No.2 b c Undertaking No.3 c d Undertaking No.4 d e Undertaking No.5 e

DED

UC

TIO

N U

/S

10B


Schedule 10BA Deduction under section 10BA

Deduction in respect of exports of handmade wooden articles a Undertaking No.1 a b Undertaking No.2 b c Undertaking No.3 c d Undertaking No.4 d e Undertaking No.5 e

DE

DU

CT

ION

U/S

10

BA


Schedule 80G Details of donations entitled for deduction under section 80G

A Donations entitled for 100% deduction


i Ai

ii Aii

iii Aiii

iv Aiv

v Av


80G(5) (vi)


i Bi

ii Bii

iii Biii

iv Biv

v Bv


80G(5) (vi)


i Ci

ii Cii

iii Ciii

iv Civ

v Cv

vi Total Cvi

DE

TAIL

S O

F D

ON

AT

ION

S

D Total donations (Avi + Bvi + Cvi) D





b


c


d

e Deduction in respect of profits of an undertaking referred to in section 80-IA(4)(v) [Revival of power generating plant]and deduction in respect of profits of an undertaking referred to in section 80-IA(4)(vi)[Cross-country natural gas distribution network]

e

D

ED

UC

TIO

N U

/S 8

0-IA


Schedule 80-IB Deductions under section 80-IB

a Deduction in respect of industrial undertaking referred to in section 80-IB(3) [Small-scale industry]

a


b


c


d


e


f


g


h


i


j


k


l


m

D

ED

UC

TIO

N U

/S 8

0-IB



a Assam 4a

b Arunachal Pradesh 4b

c Manipur 4c

d Mizoram 4d

e Meghalaya 4e

f Nagaland 4f

g Tripura 4g


DE

DU

CT

ION

U/S

80-

IC



Schedule VI-A Deductions under Chapter VI-A a 80G f 80IB (n of Schedule

80-IB

b 80GGA g 80IC/ 80-IE (5 of Schedule 80-IC/ 80-IE)

c 80GGC h 80-ID/ 80JJA

d 80IA (f of Schedule 80-IA)

i 80LA

e 80IAB j 80P

T

OT

AL

DE

DU

CT

ION

S

k Total deductions under Chapter VI-A (Total of a to j) k


Section code

Special rate (%)

Income i

Tax thereon ii

Sl No

Section code

Special rate (%)

Income i

Tax thereon ii

1 6

2 7

3 8

4 9

5 10

SPE

CIA

L R

AT

E



1 Interest income 1

2 Dividend income 2


4 Net Agriculture income(other than income to be excluded under rule 7, 7A, 7B or 8) 4


6 Others 6 EX

EM

PT IN

CO

ME

7 Total (1+2+3+4+5+6) 7

Schedule FBI Information regarding calculation of value of fringe benefits

1 Are you having employees based both in and outside India? If yes write 1, and if no write 2 2 If answer to ‘1’ is yes, are you maintaining separate books of account for Indian and foreign operations?

If yes write 1, and if no write 2

3 Total number of employees

a Number of employees in India 3a

b Number of employees outside India 3b

FRIN

GE

BE

NE

FIT

IN

FOR

MA

TIO

N

c Total number of employees 3c

Schedule FB Computation of value of fringe benefits

Nature of expenditure Amount/value of expenditure*

Percent-age

Value of fringe benefits iv= ii x iii ÷ 100

Sl. No.

i ii iii iv 1 Free or concessional tickets provided for private journeys

of employees or their family members (the value in column ii shall be the cost of the ticket to the general public as reduced by the amount, if any, paid by or recovered from the employee)

1ii 100

1iv

2 Any specified security or sweat equity shares [Sections 115WB(1)(d)] [Difference between the fair market value on the vesting date and amount recovered from or paid by the employee] and contribution to an approved superannuation fund for employees (in excess of one lakh rupees in respect of each employee)

2ii 100

2iv

3 Entertainment 3ii 20 3iv VA

LU

E O

F FR

ING

E B

EN

EFI

TS

4 a Hospitality in the business other than business

referred to in 4b or 4c or 4d aii 20

aiv


b Hospitality in the business of hotel bii 5 biv

c Hospitality in the business of carriage of passengers or goods by aircraft

cii 5 civ

d Hospitality in the business of carriage of passengers or goods by ship

dii 5 div

5 Conference (other than fee for participation by the employees in any conference)

5ii 20 5iv

6 Sales promotion including publicity (excluding any expenditure on advertisement referred to in proviso to section 115WB(2)(D)

6ii 20 6iv

7 Employees welfare 7ii 20 7iv

8 a Conveyance, in the business other than the business


aiv

b Conveyance, in business of construction bii 5 biv

c Conveyance in the business of manufacture or production of pharmaceuticals

cii 5 civ

d Conveyance in the business of manufacture or production of computer software

dii 5 div

9 a

Use of hotel, boarding and lodging facilities in the business other than the business referred to in 9b or 9c or 9d or 9e

aii 20

aiv

b Use of hotel, boarding and lodging facilities in the business of manufacture or production of pharmaceuticals

bii 5

biv

c Use of hotel, boarding and lodging facilities in the business of manufacture or production of computer software

cii 5

civ

d Use of hotel, boarding and lodging facilities in the business of carriage of passengers or goods by aircraft

dii 5

div

e Use of hotel, boarding and lodging facilities in the

business of carriage of passengers or goods by ship eii 5

eiv

a

Repair, running (including fuel), maintenance of motor cars and the amount of depreciation thereon in the business other than the business of carriage of passengers or goods by motor car

aii

20

aiv

10

b

Repair, running (including fuel), maintenance of motor cars and the amount of depreciation thereon in the business of carriage of passengers or goods by motor car

bii

5

biv

11 Repair, running (including fuel) and maintenance of aircrafts and the amount of depreciation thereon in the business other than the business of carriage of passengers or goods by aircraft

11ii 20

11iv

12 Use of telephone (including mobile phone) other than expenditure on leased telephone lines

12ii 20 12iv

13 Maintenance of any accommodation in the nature of guest house other than accommodation used for training purposes

13ii 0 13iv

14 Festival celebrations 14ii 20 14iv

15 Use of health club and similar facilities 15ii 50 15iv

16 Use of any other club facilities 16ii 50 16iv

17 Gifts 17ii 50 17iv

18 Scholarships 18ii 50 18iv

19 Tour and Travel (including foreign travel) 19ii 5 19iv

20 Value of fringe benefits (total of Column iv) 20iv

21 If answer to ‘1’ of Schedule-FBI is no, value of fringe benefits (same as20iv) 21iv

22 If answer to ‘2’of Schedule-FBI is yes, value of fringe benefits (same as20iv) 22iv

23 If answer to ‘2’of Schedule-FBI is no, value of fringe benefits ( 20iv x 3a of Schedule-FBI ÷3c of Schedule-FBI) 23iv

24 value of fringe benefits(21iv or 22iv or 23iv as the case may be) 24iv

NOTE ► *If answer to ‘2’of Schedule-FBI is yes, enter the figures in 1ii to 19ii on the basis of books of account maintained for Indian operation.





Amount (Rs)

i ii iii iv v T

AX

PA

YM

EN

TS

NOTE ► Enter the totals of Advance tax and Self Assessment tax in Sl No. 11a & 11d of PartB-TTI



Deductor

Unique Transaction

Number (UTN)



Total tax deducted


this year

(1) (2) (8) (3) (4) (5) (6) (7)

i

ii

iii

T

DS

ON

OT

HE

R IN

CO

ME



Tax Deduction and Tax Collection Account Number

of the Collector

Unique Transaction

Number (UTN)




Total tax deducted

Amount out of (6) to be allowed as credit during the

year (1) (2) (8) (3) (4)

(5) (6) (7)

i

ii

T

CS

ON

INC

OM

E

NOTE ► Enter the total of column (7) in Sl No. 11c of PartB-TTI

Schedule FBT Details of payment of Fringe Benefit Tax Sl No



Amount (Rs)

i ii iii iv v T

AX

PA

YM

EN

TS

NOTE ► Enter the total of v in 8a and 8b of PART-C


Instructions for filling out FORM ITR-5 1. Legal status of instructions These instructions though stated to be non-statutory, may be taken as guidelines for filling the particulars in this Form. In case

of any doubt, please refer to relevant provisions of the Income-tax Act, 1961 and the Income-tax Rules, 1962. 2. Assessment Year for which this Form is applicable This Form is applicable for assessment year 2009-2010 only. 3. Who can use this Form

This Form can be used a person being a firm, AOP, BOI, artificial juridical person referred to in section 2(31)(vii), cooperative society and local authority. However, a person who is required to file the return of income under section 139(4)(a) or 139(4)(a) or 139(4)(b) or 139(4)(c) or 139(4)(d) shall not use this form.

4. Annexure-less Form No document (including TDS/ TCS certificate, report of audit) should be attached to this form. Official receiving the return

has been instructed to detach all documents enclosed with this form and return the same to the assessee. 5. Manner of filing this Form This Form can be furnished to the Income Tax Department in any of the following manners:-

(i) furnishing the return in a paper; (ii) furnishing the return electronically under digital signature; (iii) transmitting the data in the return electronically and thereafter submitting the verification of the return in Form ITR-V; (iv) furnishing a bar-coded paper return.

However, a firm whose accounts are liable to audit under section 44AB shall compulsorily furnish the return in any of the manner mentioned at (ii) or (iii) above. Where the form is furnished in the manner mentioned at 5(iii), you need to print out two copies of Form ITR-V. Both copies should be verified by the assessee and submitted to the Income-tax Department. The receiving official shall return one copy after affixing the stamp and seal.



8. Intimation of processing under section 143(1)/115WE(1) The acknowledgement of the return is deemed to be the intimation of processing under section 143(1)/115WE(1). No separate intimation will be sent to the taxpayer unless there is a demand or refund.

9. Codes for filling out this Form Some of the details in this form have to be filled out by entering into the relevant codes. These are as under:-

(i) The code (to be filled in the section “Filing Status” on first page) for sections under which the return is filed are as under:-

(a) Return of income- Sl.No. How the return is filed Code i. Voluntarily before the due date 11 ii. Voluntarily after the due date 12 iii. In response to notice under section 142(1) 13 iv. In response to notice under section 148 14 v. In response to notice under section 153A/ 153C 15

(b) Return of fringe benefits-

Sl.No. How the return is filed Code i. Voluntarily before the due date 21 ii. Voluntarily after the due date 22 iii. In response to notice under section 115WD(2) 23 iv. In response to notice under section 115WG 24


Sector Sub-Sector Code Agro-based industries 0101 Automobile and Auto parts 0102 Cement 0103 Diamond cutting 0104 Drugs and Pharmaceuticals 0105 Electronics including Computer Hardware 0106 Engineering goods 0107 Fertilizers, Chemicals, Paints 0108 Flour & Rice Mills 0109 Food Processing units 0110 Marble & Granite 0111 Paper 0112 Petroleum and Petrochemicals 0113

(1) Manufacturing

Industry

Power and energy 0114 simpletaxindia.blogspot.com

Printing & Publishing 0115 Rubber 0116 Steel 0117 Sugar 0118 Tea, Coffee 0119 Textiles, handloom, Power looms 0120 Tobacco 0121 Tyre 0122 Vanaspati & Edible Oils 0123 Others 0124 Chain Stores 0201 Retailers 0202 Wholesalers 0203

(2) Trading

Others 0204 (3) Commission

Agents General Commission Agents 0301


(4) Builders Others 0404

Civil Contractors 0501 Excise Contractors 0502 Forest Contractors 0503 Mining Contractors 0504

(5) Contractors


(6) Professionals


(7) Service Sector




(9) Entertainment

Industry

Others 0906 (iii) In Schedule SI, the codes for the sections which prescribed special rates of tax for the income mentioned therein

are as under:- Sl. No. Nature of income Section Rate of tax Section

code 1. Tax on accumulated balance of recognised 111 To be computed in 1


provident fund accordance with rule 9(1) of Part A of fourth Schedule

2. Short term capital gains 111A 15 1A 3. Long term capital gains (with indexing) 112 20 21 4. Long term capital gains (without indexing) 112 10 22 5. Dividends, interest and income from units




50 FA


30 5A1b1


20 5A1b2


10 5A1b3


115AB(1)(a) 10 5AB1a


115AB(1)(b) 10 5AB1b


115AC(1) 10 5AC


115ACA(1) 10 5ACA

14. Profits and gains of life insurance business 115B 12.5 5B 15. Winnings from lotteries, crosswords

puzzles, races including horse races, card games and other games of any sort or gambling or betting of any form or nature whatsoever

115BB 30 5BB


115BBA 10 5BBA


115BBB 10 5BBB



(1) Computation of total income (a) “Previous year” is the financial year (1st April to the following 31st March) during which the income in

question has been earned. “Assessment Year” is the financial year immediately following the previous year.

(b) Total income is to be computed as follows, in the following order: (i) Classify all items of income under the following heads of income- (A) Salaries; (B) “Income from house property”; (C) “Profit and gains from business or

profession”; (D) “Capital gains”; and (E) “Income from other sources”. [There may be no income under one or more of the heads at (A), (B), (D) and (E)].

(ii) Compute taxable income of the current year (i.e., the previous year) under each head of income separately in the Schedules which have been structured so as to help you in making these


computations as per provisions of the Income-tax Act. These statutory provisions decide what is to be included in your income, what you can claim as an expenditure or allowance and how much, and also what you cannot claim as an expenditure/allowance.



(v) Aggregate the headwise end-results as available after (iv) above; this will give you “gross total income”.

(vi) From gross total income, subtract, as per procedures prescribed by the law, “deductions” mentioned in Chapter VIA of the Income-tax Act. The result will be the total income. Besides, calculate agricultural income for rate purposes.



(b) Add surcharge as prescribed by the law on the above tax payable. (c) Add Education Cess as prescribed on the tax payable plus surcharge. (d) Claim relief(s) as prescribed by the law, on account of arrears or advances of salary received during the

year or of double taxation and calculate balance tax and surcharge payable. (e) Add interest payable as prescribed by the law to reach total tax, surcharge and interest payable. (f) Deduct the amount of prepaid taxes, if any, like “tax deducted at source”, “advance-tax” and “self-

assessment-tax”. The result will be the tax payable (or refundable).

(3) Computation of fringe benefits and income-tax, surcharge, education cess including secondary and higher education cess and interest in respect of fringe benefits chargeable to tax

(a) Chapter XII-H of the Act relates to income-tax on fringe benefits paid or deemed to have been paid by an employer to his employees. .

(b) Section 115WB provides the list of fringe benefits provided or deemed to have been provided by an employer to his employees which are chargeable to tax. Section 115WC provides as to how to compute the value of the fringe benefits provided or deemed to have been provided.

(c) Additional income-tax(fringe benefit tax) is required to be paid by every specified employer at the rate of thirty per cent on the value of such fringe benefits. Surcharge and Education cess including secondary and higher education cess at specified rates are also to be paid on fringe benefit tax(FBT). FBT is payable by an employer even if no income-tax is payable by him on his total income.

(d) Specified employer means a company, firm, an association of persons or a body of individuals (whether incorporated or not), a local authority and every artificial juridical person. However any person eligible for exemption under section 10(23C) or registered under section 12AA or a political party registered under section 29A of the Representation of the People Act,1951 is not chargeable to fringe benefits tax.

(e) The Central Board of Direct Taxes had issued an exhaustive Circular No.8 / 2005 dated 29.8.2005 explaining the provisions relating to fringe benefit tax. In case of any doubt, the assessees may refer to the said circular.

(4) Obligation to file return of income (a) Every firm, AOP, BOI and artificial juridical person has to furnish the return of his income if his total

income before allowing deductions under section 10A or section 10B or section 10BA or Chapter VI-A (i.e., if his gross total income referred to in item 9 of Part B-TI as increased by item 6 of Schedule 10A, item f of Schedule 10A and item f of Schedule 10A of this Form) exceeds the maximum amount which is not chargeable to income tax (Rs. 1,50,000/- in case of AOP, BOI and artificial juridical person, Rs. 10,000/- in case of a cooperative society, during the financial year 2008-09.

(b) Every firm shall furnish the return of income whether it has income or loss during the year. (c) The deduction under sections 10A, 10B, 80-IA, 80-IAB, 80-IB, 80-IC, 80-ID and 80-IE shall not be

allowed unless the return has been filed on or before the due date.

11. SCHEME OF THE FORM The Scheme of this form follows the scheme of the law as outlined above in its basic form. The Form has been divided into three parts. It also has thirty one schedules. The details of these parts and the schedules are as under:-


(a) Part A-GEN mainly seeks general information requiring identificatory and other data; (b) Part A-BS seeks the balance sheet as on 31st March, 2009; (c) Part A-P&L seeks information regarding the Profit and loss account for the financial year 2008-09; (d) Part A-OI seeks other information. It is optional in a case not liable for audit under section 44AB (e) Part A-QD seeks information regarding quantitative details of the principal item of goods traded. It is optional

in a case not liable for audit under section 44AB. (ii) The second part, i.e, Part-B is regarding an outline of the total income and tax computation in respect of income

chargeable to tax.. (iii) Part-C is regarding an outline of the value of fringe benefits and tax computation thereon


(iv) After Part C, there is – (a) a space for giving details of the transmission of the data of the form if the form has been furnished in

accordance with the manner mentioned at instruction No.5(iii). (b) a space for a statutory verification., .

(v) There are 31 schedules details of which are as under-

(a) Schedule – BA: Details of bank account. (b) Schedule-HP: Computation of income under the head Income from House Property (c) Schedule-BP: Computation of income under the head “profit and gains from business or profession” (d) Schedule-DPM: Computation of depreciation on plant and machinery under the Income-tax Act (e) Schedule DOA: Computation of depreciation on other assets under the Income-tax Act (f) Schedule DEP: Summary of depreciation on all the assets under the Income-tax Act (g) Schedule DCG: Computation of deemed capital gains on sale of depreciable assets (h) Schedule ESR: Deduction under section 35 (expenditure on scientific research) (i) Schedule-CG: Computation of income under the head Capital gains. (j) Schedule-OS: Computation of income under the head Income from other sources. (k) Schedule-CYLA: Statement of income after set off of current year’s losses (l) Schedule-BFLA: Statement of income after set off of unabsorbed loss brought forward from earlier years. (m) Schedule- CFL: Statement of losses to be carried forward to future years. (n) Schedule- 10A: Computation of deduction under section 10A (o) Schedule- 10AA: Computation of deduction under section 10AA (p) Schedule- 10B: Computation of deduction under section 10B (q) Schedule- 10BA: Computation of deduction under section 10BA (r) Schedule- 80G: Details of donation entitled for deduction under section 80G (s) Schedule- 80IA: Computation of deduction under section 80IA (t) Schedule- 80IB: Computation of deduction under section 80IB (u) Schedule- 80IC/ 80-ID/ 80-IE: Computation of deduction under section 80IC/ 80-ID/ 80-IE. (v) Schedule-VIA: Statement of deductions (from total income) under Chapter VIA. (w) Schedule-SI: Statement of income which is chargeable to tax at special rates (x) Schedule-EI: Statement of Income not included in total income (exempt incomes) (y) Schedule-FBI: Information regarding calculation of value of fringe benefits (z) Schedule-FB: Computation of value of fringe benefits (aa) Schedule-IT: Statement of payment of advance-tax and tax on self-assessment. (bb) Schedule-TDS2: Statement of tax deducted at source on income other than salary. (cc) Schedule-TCS: Statement of tax collected at source (dd) Schedule-FBT: Statement of payment of Fringe Benefit Tax

12. GUIDANCE FOR FILLING OUT PARTS AND SCHEDULES ((1) General


(ii) If any schedule is not applicable score across as “---NA---“. (iii) If any item is inapplicable, write “NA” against that item. (iv) Write “Nil” to denote nil figures. (v) Except as provided in the form, for a negative figure/ figure of loss, write “-” before such figure. (vi) All figures should be rounded off to the nearest one rupee. However, the figures for total income/ loss and tax

payable be finally rounded off to the nearest multiple of ten rupees. (2) Sequence for filling out parts and schedules

(i) Part A (ii) Schedules (iii) Part B (iv) Part C (v) Verification .

13. PART A-GEN

Most of the details to be filled out in Part-Gen of this form are self-explanatory. However, some of the details mentioned below are to be filled out as explained hereunder:- (a) e-mail address and phone number are optional; (b) The code for sections under which the return is filed be filled as per code given in instruction No.9(i). (c) In case the return is being filed by you in a representative capacity, please ensure to quote your PAN in item

“PAN of the representative assessee”. In case the PAN of the person being represented is not known or he has not got a PAN in India, the item for PAN in the first line of the return may be left blank. It may please be noted that in the first line of this form, the name of the person being represented be filled.

14. PART A-BS AND PART A-P&L

(a) The Balance Sheet as on 31st March, 2009 and the profit and loss account for financial year 2008-09 in the formats provided in these parts have to be filled in respect of business or profession carried out by you during the financial year 2008-09 if you were required to maintain accounts of the business or profession during the year.


(b) In case, accounts of the business or profession were required to be audited, the items of balance sheet and profit and loss account filled in the these parts should broadly match with the audited balance sheet and profit and loss account.

(c) In case, you were not required to maintain accounts of the business or profession during the year, please fill out the details mentioned in these parts against portion ‘No account case’.

15. PART A- OI AND PART A-QD

(a) If the accounts of the business or profession were not required to be audited under section 44AB, it is optional to fill these parts.

(b) Where the accounts of the business or profession were required to be audited under section 44AB, the details to be filled in these parts which are also required to be reported in the report of audit by the auditors, should broadly match with the details as given in the report of audit.


(d) In Part A-QD, the quantitative details may be furnished only in respect of principal items.

16. SCHEDULES

(a) Schedule- BA: In this schedule, please quote the MICR code of the bank if you desire to receive the refund through

electronic clearing system (ECS). However, it may not be possible to issue the refund in all cases through ECS since the ECS facility is not available across the country.

(b) Schedule-HP,- If there are more than three house properties, the details of remaining properties need to be filled in a separate

sheet in the format of this Schedule. and attach this sheet with this return. The results of all the properties have to be filled in last row of this Schedule. Following points also need to be clarified,-




(c) Schedule-BP,-

(i) The computation in this schedule has to be started on the basis of profit before tax as shown in item 43 of Part-A- P&L.

(ii) In case any item of addition or deduction not covered by the items mentioned in this schedule be filled in residual items 21 and 26 of this schedule.

(iii) In case accounts of business or profession are not maintained, the profit as entered into by you in item 50d of Part A-P&L.

(iv) In case, agricultural income to be excluded on the basis of rule 7A, 7B or 7C (in business of growing and manufacturing tea, coffee etc), it shall not be included in the item 5c of this schedule.

(v) In A-37, net profit or loss from business or profession is to be computed, only in special cases, e.g. business of growing and manufacturing tea, coffee, etc., where rules 7A, 7B or 7C is applicable otherwise, the figure of profit/ loss as computed is A-36 may be entered.

(vi) Income earned by the assessee by way of salary, commission, bonus, interest, etc. from other firms as if in the capacity of a partner, which has not been included in the profit and loss account of the proprietory business needs to be disclosed in item No. A23 in Schedule BP.

(vii) Item C of this schedule computes the total of profit or loss from business or profession (other than speculative business and profit or loss from speculative business) (item A37 + item B41). Please note that if balance in item B41 in respect of speculative business is a loss, same shall not be set-off against profit from non-speculative business. In such situation, only the figures of item A37 be entered in item C.

(e) Schedule-DPM, Schedule DOA, Schedule DEP and Schedule DCG: For sake of convenience, computation of depreciation allowable under the Income-tax Act [other than in case of an undertaking generating electricity which may at its option claim deprecation on straight line method under section 32(1)(i)], has been divided into two parts i.e. in schedules DPM (depreciation on plant and machinery )and DOA (depreciation on other assets). The summery of depreciation as per these schedules has to be shown in schedule DEP. Deemed short term capital gain, if any as computed in schedule DPM and DOA has to be entered into schedule DCG.

(f) Schedule ESR: Deduction under section 35 (expenditure on scientific research): In column (2) of this schedule, please furnish the details of deduction to which you are entitled under

provisions of this section. In column (1), please enter the amounts of expenses of the nature covered by section 35 which are, if, debited to profit and loss account. Please note that no deduction for


depreciation is available in respect of capital asset for which deduction under section 35(1)(iv) has been claimed.

(g) Schedule-CG,- (i) If more than one short-term capital asset has been transferred, make the combined computation for

all the assets. Similarly, make the combined computation for all the assets if more than one long-term capital asset has been transferred.



(iii) Sections 54/54B/54D/54EC/54F/54G/54GA mentioned in this schedule provides exemption on

capital gains subject to fulfillment of certain conditions. Exemption under some of these sections is available only in respect of long-term capital gains. Therefore, please ensure that you are claiming the benefit of any of these sections correctly in accordance with the provisions of law.


(h) Schedule-OS,- (i) Against item 1a and 1b, enter the details of gross income by way of dividend and interest which is

not exempt. (ii) Against item 1c, indicate the gross income from machinery, plant or furniture let on hire and also

such income from building where its letting is inseparable from the letting of the said machinery, plant or furniture, if it is not chargeable to income-tax under the head “Profits and gains of business or profession”.



(v) Item 5 of this Schedule computes the total income chargeable under the head “Income from other sources” (item 1g + item 2 + item 3 + item 4c). If balance in item 4c from owning and maintaining race horses is a loss, please enter 0 and enter the total of item 3 in item 5.

(i) Schedule-CYLA,-

(i) Mention only positive incomes of the current year in column 1, headwise, in the relevant rows. (ii) Mention total current year’s loss(es), if any, from house property, business or profession and other

sources (other than losses from race horses) in the first row against the heading loss to be adjusted under the respective head. These losses are to be set off against income under other heads in accordance with the provisions of section 71. The amount set off against the income of respective heads has to be entered into in columns 2, 3 and 4, in the relevant rows.


(j) Schedule-BFLA,- (i) Mention only positive incomes of the current year (after set-off of loss in Schedule-CYLA in

column 1, headwise in relevant rows. (ii) The amount of brought forward losses which may be set off are to be entered in column 2 in

respective rows. (iii) The end result of the set off will be entered in column 3 in respective heads. The total of column 3

shall be entered in row viii which shall give the amount of gross total income.


(iv) The total amount of brought forward losses set off during the year shall be entered in column 2 of row vii.

(k) Schedule-CFL,- (i) In this Schedule, the summary of losses carried from earlier years, set off during the year and to be

carried forward for set off against income of future years is to be entered. (ii) The losses under the head “house property”, ‘profit and gains of business or profession” short term

capital loss and long term capital loss, losses from other sources (other than losses from race horses) are allowed to be carried forward for 8 years. However, loss from owning and maintaining race horses can be carried forward only for 4 assessment years.

(l) Schedule- 10A,- (i) If there are more than one undertaking entitled for deduction under this section, please enter the

details of deduction for each undertaking separately. (ii) The amount of deduction under this section for an undertaking shall be as per item 17 of Form

No.56F being the report of audit under section 10A. (m) Schedule-10AA,-


(n) Schedule-10B,- (i) If there are more than one undertaking entitled for deduction under this section, please enter the

details of deduction for each undertaking separately. (ii) The amount of deduction under this section for an undertaking shall be as per item 17 of Form

No.56G being the report of audit under section 10B. (o) Schedule- 10BA,-



(p) Schedule- 80G,- (i) In this Schedule, the details of donation given by you which are entitled for deduction under section

80G have to be filled. (ii) In Part-A of this Schedule, the details of donations which are entitled for 100% deduction are to be

filled in. Section 80G(1)(i) read with section 80G(2) contains the list of funds/ institutions donations to which are eligible for 100% deduction in hands of the donar.



(v) It may kindly be noted that where the aggregate donations referred to in Part-C and donations referred to in sub-clauses (v), (vi), (via) and (vii) of clause (a) and in clauses (b) and (c)of section 80G(2) exceeds 10% of total income (before deduction under other provisions of Chapter VI-A), than the excess amount shall be ignored for purpose of computing deduction under section 80G.

(q) Schedule- 80IA, Schedule- 80IB, Schedule- 80IC and Schedule-80-IE: (i) If there are more than one undertaking entitled for deduction under any of these sections, please

enter the details of deduction in relevant schedule for each undertaking separately. (ii) The amount of deduction for an undertaking shall be as per item 30 of Form No.10CCB being the

report of audit under sections 80-IA/ 80-IB/ 80-IC and 80-IE. (r) Schedule-VIA,-

(i) The total of the deductions allowable is limited to the amount of gross total income. For details of deductions allowable, the provisions of the Chapter VI-A may kindly be referred to.

(ii) For deductions under sections 80-IA, 80-IB, 80-IC/ 80-IE, the amount as shown in Schedules 80-IA, 80-IB and 80-IC/ 80-IE be filled. The amount of deduction under section 80-ID also needs to be shown in this Schedule.

(iii) Details of other deductions which are available are as under:-

(i) Section 80G (Deduction in respect of donations to certain funds, charitable institutions, etc.)

(ii) Section 80GGA (Deduction in respect of certain donations for scientific research or rural development)

(iii) Section 80GGC (Deduction in respect of contributions given by any person to political parties)

(iv) Section 80JJA (Deduction in respect and gains from business of collecting and processing of bio-degradable waste)

(v) Section 80LA (Deduction in respect of certain incomes of Offshore Banking Units and International Financial services Centre).

(vi) Section 80P (Deduction in respect of income of cooperative societies) (s) Schedule-SI,-

Mention the income included in total income which is chargeable to tax at special rates. The codes for relevant section and special rate of taxes are given in Instruction No.9(iii).


(t) Schedule-EI,- Furnish the details of income like agriculture income, interest, dividend, etc. which is exempt from tax. (u) Schedule-FBI:

The information in this Schedule shall enable computation of the value of fringe benefits in a case where the assessee is having business operation outside India also. Please note that even if there were no employees or business operation outside India, the details of total number of employees based in India have to be filled in row 3a of this Schedule.

(v) Schedule-FB: (i) This Schedule has been structured so as to compute the value of fringe benefits in a Tabular form. (ii) In column i, the nature of fringe benefits as provided in section 115WB in relation to which value of

fringe benefits under section 115WC is to be computed has been provided. (iii) (a) In column ii, the amount/ value of items mentioned in column i have to be filled in.

(b) As mentioned in item 21 of the said Schedule, if there is no employee based outside India, the value of fringe benefits to be filled in column ii shall be same as recorded in the books of account in India.

(c) Further, as mentioned in item 22 of the said Schedule, if there are employees based outside India and separate books of account for Indian and foreign operations are maintained, the value of fringe benefits to be filled in column ii shall be same as recorded in the books of account in India.

(d) Also as mentioned in item 23 of the said schedule, if there are employees based outside India and separate books of account for Indian and foreign operations are not maintained, the value of fringe benefits to be filled in column ii shall be as per global books of account and thereafter the value of fringe benefits to be taxed in India shall be computed on proportionate basis as explained in said item 23.

(e) If accounts have been maintained separately for each business, column ii be filled on the basis of consolidated figures of all the businesses.

(iv) Where the books of account are auditable under section 44AB, the value in column ii should broadly match with the value shown in the audit report under said section.

(v) In item 4, any expenditure on or payment for food and beverages provided by the employer to his employees in office or factory or any payment through non-transferable paid vouchers usable only at eating joints or outlets shall not be included in column ii.

(vi) In item 7, any expenditure incurred for fulfilling any statutory obligation or mitigating occupational hazards, as referred to in Explanation to clause (E) of sub-section (2) of section 115WB shall not be included in column (ii).

(vii) Column iii provides the percentage at which value of fringe benefits as provided in section 115WC on the basis of amount entered in column ii has to be computed.

(viii) The value of fringe benefit for each item to be entered in column iv shall be equal to the amount filled in column ii as multiplied by the percentage shown in column iii and as divided by 100.

(w) Schedule-IT,-

(i) In this schedule, fill out the details of payment of advance income-tax and income-tax on self-assessment.

(ii) The details of BSR Code of the bank branch (7 digits), date of deposit, challan serial no., and amount paid should be filled out from the acknowledgement counterfoil.

(x) Schedule- TDS2,- (i) In this Schedule fill the details of tax deducted on the basis of TDS certificates(Form No.16A) issued

by the deductor(s). (ii) Details of each certificate are to be filled separately in the rows. In case rows provided in these

Schedules are not sufficient, please attach a table in same format. (iii) It may please be noted that the TDS certificates are not to be annexed with the Return Form. (iv) In order to enable the Income Tax Department to provide accurate, quicker and full credit for taxes

deducted at source, the taxpayer must ensure to quote the Unique Transaction Number (UTN) in respect of every TDS transaction. In general the UTN would be printed on the TDS certificate issued by the deductor. However, in case it is not available on the certificate, the taxpayer should separately obtain the UTN either from the deductor or from the website of National Securities Depository Limited (NSDL) at http://www.tin-nsdl.com.

(y) Schedule TCS,- (i) In this Schedule, fill the details of tax collected at source on the basis of TCS certificates (Form No.

27D) issued by the Collector. (ii) In case rows provided in these Schedules are not sufficient, please attach a table in same format. (iii) It may please be noted that the TDS certificates are not to be annexed with the Return Form. (iv) In order to enable the Income Tax Department to provide accurate, quicker and full credit for taxes

collected at source, the taxpayer must ensure to quote the Unique Transaction Number (UTN) in respect of every TCS transaction. In general the UTN would be printed on the TCS certificate issued by the collector. However, in case it is not available on the certificate, the taxpayer should separately obtain the UTN either from the collector or from the website of National Securities Depository Limited (NSDL) at http://www.tin-nsdl.com.

(z) Schedule-FBT,- In this Schedule, fill the details of payment of fringe benefit tax by way of advance tax and on self-assessment. The details of BSR Code of the bank branch (7 digits), date of deposit, challan serial no., and amount paid should be filled out from the acknowledgement counterfoil


17. PART B-TI-COMPUTATION OF TOTAL INCOME (i) In this part the summary of income computed under various heads and as set off in Schedule CFLA and

Schedule BFLA is to be entered. (ii) Every entry which have to be filled on basis of Schedules have been crossed referenced and hence doesn’t need

any further clarification.

18. PART B-TI-COMPUTATION OF TAX LIABILITY ON TOTAL INCOME (a) in item 1a , fill the details of gross tax liability to be computed at the applicable rate. The tax liability has to be

computed at the rates given as under:- (A) In case of an AOP or a BOI or any other artificial juridical person,-

Income (In Rs.) Tax Liability (In Rs.) Upto Rs. 1,50,000 Nil Between Rs. 1,50,001 - Rs. 3,00,000 10% of income in excess of Rs. 1,50,000 Between Rs. 3,00,001 – Rs. 5,00,000 Rs. 15,000 + 20% of income in excess of Rs.

3,00,000 Above Rs.5,00,000 Rs. 55,000 + 30% of income in excess of Rs.

5,00,000 (B) In case of a cooperative society,-

Income (In Rs.) Tax Liability (In Rs.) Upto Rs. 10,000 10% Between Rs. 10,000 - Rs. 20,000 1,000 + 20% of income in excess of Rs. 10,000 Above Rs.20,000 3,000 + 30% of income in excess of Rs. 20,000

(C) In case of a firm or local authority- 30% of the total income

(b) In item 2, fill the details of surcharge computed as under- (i) In case of an AOP or a BOI or any other artificial juridical person, at the rate of ten per cent of item

No.1c, if the total income as per item No.11 of Part-B-TI exceeds ten lakh rupees. However, such surcharge shall not exceed the amount being the difference of total income and ten lakh rupees;

(ii) In case of a firm, at the rate of ten per cent of item No.1c (c); (iii) No surcharge is leviable on income of a co-operative society and a local authority. (c) In item No. 3, calculate the education cess including education cess at the rate of three per cent of [item No.1c+

item No. 2] (d) In item 9b, please furnish the details in accordance with Form 16A issued by a deductor

19. PART C-FB-COMPUTATION OF VALUE OF FRINGE BENEFITS AND TAX THEREON

(i) Quarter wise break-up of fringe benefits is required to be given in items 1 to 4, so as to facilitate computation of interest in item 12 for default in paying the installments of advance fringe benefits tax..

(ii) In item 5, fill the details of fringe benefits as computed in item 20(d) of Schedule 17. The amount in item 5 must necessarily be equal to the total of the amounts in items 1 to 4.

(iii) In item 6, compute the fringe benefit tax payable on the value of fringe benefits for the previous year, i.e., on the amount in item 5. The fringe benefit tax is payable on the same basis and in the same installments as the advance income-tax.

(iv) In item 7, compute the surcharge as prescribed by the law on the fringe benefit tax as computed in item 6. In case of a domestic company the rate of surcharge is 10 per cent whereas in case of a company other than a domestic company the rate of surcharge is two and one-half per cent.

(v) In item 8, compute the education cess including secondary and higher education cess as prescribed by the law on the fringe benefit tax and surcharge thereon. The rate of education cess is 3 per cent.

(vi) In item 12, compute the interest under section 115WJ(3) for default in payment of advance fringe benefit tax. (vii) In item 13, compute the interest under section 115WK(1) for defaults in furnishing return of fringe benefits.

20. VERIFICATION

(a) In case the return is to be furnished in a paper format or electronically under digital signature or in a bar coded

return format, please fill up the required information in the Verification. Strike out whatever is not applicable. Please ensure that the verification has been signed before furnishing the return. Write the designation of the person signing the return.




Assessment Year FO

RM

ITR-6

INDIAN INCOME TAX RETURN ( Including Fringe Benefit Tax Return)

[For Companies other than companies claiming exemption under section 11] (Please see rule 12 of the Income-tax Rules,1962)


Part A-GEN GENERAL PAN Name

Is there any change in the company’s name? If yes, please furnish the old name

Date of incorporation (DD/MM/YYYY) Flat/Door/Block No Name Of Premises/Building/Village

/ / Road/Street/Post Office Area/Locality If a domestic company

(Tick)

Pin code Town/City/District State


PER

SON

AL

INFO

RM

AT

ION

Email Address

( )

If a public company write 6, and if private company write 7 (as defined in section 3 of the Company Act)

Area Code AO Type Range Code AO No Income-tax

Designation of Assessing Officer

Return filed under section (Enter Code) [Please see instruction number 9(i)]

Fringe Benefits


FIL

ING

ST

AT

US

If revised, then enter Receipt No and Date of filing original return (DD/MM/YYYY)

/ /

Residential Status (Tick) Resident Non-Resident In the case of non-resident, is there a permanent establishment (PE) in India (Tick) Yes No

Whether this return is being filed by a representative assessee? (Tick) Yes No

If yes, please furnish following information - (a) Name of the representative (b) Address of the representative

( c) Permanent Account Number (PAN) of the representative Are you liable to maintain accounts as per section 44AA? (Tick) Yes No Are you liable for audit under section 44AB? (Tick) Yes No, If yes, furnish following information- (a) Name of the auditor signing the tax audit report

(b) Membership no. of the auditor (c) Name of the auditor (proprietorship/ firm) (d) Permanent Account Number (PAN) of the proprietorship/ firm A

UD

IT IN

FOR

MA

TIO

N

(e) Date of audit report. For Office Use Only



Nature of company (write 1 if holding company, write 2 if a subsidiary company, write 3 if both, write 4 if any other)

If subsidiary company, mention the name, address and PAN of the holding company

HO

LD

ING

ST

AT

US

If holding company, mention the name, address and PAN of the subsidiary companies

In case of amalgamating company, write the name of amalgamated company

In case of amalgamated company, write the name of amalgamating company

In the case of demerged company, write the name of resulting company

BU

SIN

ESS

OR

GA

NIS

AT

ION

In a case of resulting company, write the name of demerged company

Particulars of Managing Director, Directors, Secretary and Principal officer(s) who have held the office during the previous year S.No. Name Designation Residential Address PAN

KE

Y P

ER

SON

S

Particulars of persons who were beneficial owners of shares holding not less than 10% of the voting power at any time of the previous year S.No. Name and Address Percentage of shares held PAN

SHA

RE

HO

LD

ER

S IN

FOR

MA

TIO

N

Nature of company (Tick)

1 Are you a public sector company as defined in section 2(36A) of the Income-tax Act Act Yes No

2 Are you a company owned by the Reserve Bank of India Yes No

NA

TU

RE

OF

CO

MPA

NY

AN

D IT

S B

USI

NE

SS

3 Are you a company in which not less than forty percent of the shares are held (whether singly or taken together) by the Government or the Reserve Bank of India or a corporation owned by that Bank

Yes No


4 Are you a banking company as defined in clause (c) of section 5 of the Banking Regulation Act,1949 Yes No

5 Are you a scheduled Bank being a bank included in the Second Schedule to the Reserve Bank of India Act Yes No

6 Are you a company registered with Insurance Regulatory and Development Authority (established under sub-section (1) of section 3 of the Insurance Regulatory and Development Authority Act, 1999).

Yes No

7 Are you a company being a non-banking Financial Institution Yes No Nature of business or profession, if more than one business or profession indicate the three main activities/ products

S.No. Code [Please see instruction No.9(ii)] Description

(i)

(ii)

(iii)

Part A-BS BALANCE SHEET AS ON 31ST DAY OF MARCH, 2009

1 Shareholder’s fund a Share capital

i Authorised ai ii Issued, Subscribed and Paid up : aii iii Share application money aiii

iv Total (aii + aiii) aiv

b Reserves and Surplus

i Revaluation Reserve bi

ii Capital Reserve bii iii Capital Redemption Reserve biii

iv Securities Premium Account biv

v Debentures Redemption reserve bv

vi Statutory Reserve bvi

vii General Reserve bvii

viii Profit and loss account bviii

ix Total (bi + bii + biii + biv + bv + bvi + bvii + bviii)) bix

c total Shareholders fund (aiv + bix) 1c

2 Loan funds

a Secured loans i Debentures ai ii Foreign Currency Loans aii iii Rupee Loans

A From Banks iiiA

B From others iiiB

C Total ( iiiA + iiiB) iiiC

iv Total (ai + aii + iiiC) aiv

b Unsecured loans (including deposits) i Long Term

A From Banks iA

B From others iB

C Total ( iA + iB) iC ii Short Term

SOU

RC

ES

OF

FUN

DS

A From Banks iiA


B From others iiB

C Total ( iiA + iiB) iiC iii Total (iC + iiC) biii

c Total Loan Funds (aiv + biii) 2c






i Government and other Securities - Quoted ai

ii Government and other Securities – Unquoted aii


b Short-term investments i Equity Shares bi ii Preference Shares bii iii Debenture biii



3 Current assets, loans and advances a Current assets

i Inventories




ii Sundry Debtors A Over Six Months iiA B Others iiB

C Total (iiA + iiB) iiC




v Total current assets (iE + iiC + iiiC + aiv) av


i Loans to subsidiary companies bi

ii Advances recoverable in cash or in kind or for value to be received bii

iii Deposits, loans and advances to corporate and others biii

iv Balance with Revenue Authorities biv

v Total (bi + bii + biii + biv) bv

c Total (av + bv) 3c

APP

LIC

AT

ION

OF

FUN

DS



i Current liabilities A Sundry Creditors iA B Liability for Leased Assets iB C Unpaid Dividend iC D Unpaid Matured debentures iD E Unpaid Call Money iE F Interest Accrued on above iF G Interest accrued but not due on loans iG

H Total (iA + iB + iC + iD + iE + iF + iG ) iH

ii Provisions A Provision for Income Tax iiA B Provision for Fringe Benefit Tax iiB C Provision for Wealth Tax iiC

D Provision for Leave encashment/Superannuation/Gratuity iiD

E Other Provisions iiE F Proposed Dividend iiF G Tax on Dividend iiG

H Total (iiA + iiB + iiC + iiD + iiE + iiF + iiG) iiH

iii Total (iH + iiH) diii


4 a Miscellaneous expenditure not written off or adjusted 4a b Deferred tax asset 4b c Profit and loss account/ accumulated balance 4c


5 Total, application of funds (1e + 2c + 3e +4d) 5

Part A-P& L Profit and Loss Account for the previous year 2008-09

(fill items 1 to 50 in a case where regular books of accounts are maintained, otherwise fill item 51) 1 Sales/ Gross receipts of business or profession


2 Duties, taxes and cess, received or receivable, in respect of goods and services sold or supplied a Union Excise duties 2a b Service tax 2b c VAT/ Sales tax 2c d Any other duty, tax and cess 2d





k Total of other income [(a)to(j)] 3k

4 Closing Stock 4

CR

ED

ITS

TO

PR

OFI

T A

ND

LO

SS

AC

CO

UN

T

5 Totals of credits to profit and loss account (1+2e+3k+4) 5


6 Opening Stock 6




9 Freight 9

10 Consumption of stores and spare parts 10


12 Rents 12





k Fringe benefit tax paid or payable 15k

l Total compensation to employees (15a+15b+15c+15d+15e+15f+15g+15h+15i+15j+15k) 15l

16 Insurance a Medical Insurance 16a b Life Insurance 16b c Keyman’s Insurance 16c

d Other Insurance including factory, office, car, goods, etc. 16d



18 Entertainment 18

19 Hospitality 19

20 Conference 20


22 Advertisement 22

23 Commission 23

24 Hotel, boarding and Lodging 24




DE

BIT

S T

O

PRO

FIT

AN

D L

OSS

A

CC

OU

NT



29 Club expenses 29


31 Scholarship 31

32 Gift 32

33 Donation 33


a Union excise duty 34a b Service tax 34b c VAT/ Sales tax 34c d Cess 34d e Any other rate, tax, duty or cess incl STT 34e


35 Audit fee 35


37 Bad debts 37




41 Interest 41

42 Depreciation 42



45 Provision for Fringe benefit Tax 45

46 Provision for Deferred Tax and deferred liability 46

47 Profit after tax (43 – 44 – 45 – 46) 47



50 Appropriations

a Transfer to reserves and surplus 50a

b Proposed dividend/ Interim dividend 50b

c Tax on dividend/ Tax on dividend for earlier years 50c

d Any other appropriation 50d

e Total (50a + 50b + 50c + 50d) 50e

PRO

VIS

ION

S FO

R T

AX

AN

D A

PPR

OPR

IAT

ION

S

51 Balance carried to balance sheet (49 – 50e) 51

Part A- OI Other Information (optional in a case not liable for audit under section 44AB) 1 Method of accounting employed in the previous year (Tick) mercantile cash 2 Is there any change in method of accounting (Tick) Yes No 3 Effect on the profit because of deviation, if any, in the method of accounting employed in the



a Raw Material (if at cost or market rates whichever is less write 1, if at cost write 2, if at market rate write 3) b Finished goods (if at cost or market rates whichever is less write 1, if at cost write 2, if at market rate write 3) c Is there any change in stock valuation method (Tick) Yes No

d Effect on the profit or loss because of deviation, if any, from the method of valuation prescribed under section 145A 4d

5 Amounts not credited to the profit and loss account, being -

OT

HE

R IN

FOR

MA

TIO

N

a the items falling within the scope of section 28 5a


b the proforma credits, drawbacks, refund of duty of customs or excise or service tax, or refund of sales tax or value added tax, where such credits, drawbacks or refunds are admitted as due by the authorities concerned

5b

c escalation claims accepted during the previous year 5c

d any other item of income 5d

e capital receipt, if any 5e





6c


e Amount of discount on a zero-coupon bond 6e

f Amount of contributions to a recognised provident fund 6f



i Amount of contributions to any other fund 6i

j Amount of bad and doubtful debts 6j

k Provision for bad and doubtful debts 6k




6n





7b








a


Aa






f Any other disallowance Af g Total amount disallowable under section 40(total of Aa to Af) 8Ag


8B


40A(2)(b) 9a

b Amount paid otherwise than by account payee cheque or account payee bank draft under section 40(3) – 100% disallowable

9b



9d


f Total amount disallowable under section 40A 9f 10 Any amount disallowed under section 43B in any preceding previous year but allowable during


any law 10a


10b



10d



g Total amount allowable under section 43B (total of 10a to 10f) 10g 11 Any amount debited to profit and loss account of the previous year but disallowable under

section 43B:- a Any sum in the nature of tax, duty, cess or fee under

any law 11a


11b



11d




a Union Excise Duty 12a

b Service tax 12b

c VAT/sales tax 12c

d Any other tax 12d

e Total amount outstanding (total of 12a to 12d) 12e 13 Amounts deemed to be profits and gains under section 33AB or 33ABA or 33AC 13 14 Any amount of profit chargeable to tax under section 41 14

15 Amount of income or expenditure of prior period credited or debited to the profit and loss account (net)

15






4 Closing stock 4


6 Raw materials

a Opening stock 6a



d Sales during the previous year 6d e Closing stock 6e f Yield finished products 6f



a opening stock 7a




e closing stock 7e

QU

AN

TIT

AT

Y D

ET

AIL

S


Part B - TI Computation of total income

1 Income from house property (4c of Schedule-HP) (enter nil if loss) 1

2 Profits and gains from business or profession i Profit and gains from business other than speculative

business (A37 of Schedule-BP) 2i


2ii

iii Total (2i + 2ii) 2iii

3 Capital gains a Short term

i Short-term (under section 111A) (A7 of Schedule-CG)

3ai



c Total capital gains (3aiii + 3b) (take the figure adjusted to Schedule CYLA) 3c


a from sources other than from owning race horses (3 of Schedule OS)

4a


4b

c Total (a + b) 4c

5 Total (1 + 2c + 3c +4c) 5

6 Losses of current year to be set off against 5 (total of 2vi,3vi and 4vi of Schedule CYLA) 6

7 Balance after set off current year losses (5 – 6) 7

TO

TA

L IN

CO

ME

8 Brought forward losses to be set off against 7 (total of 2vi, 3vi and 4vi of Schedule BFLA) 8


9 Gross Total income (7 – 8) (also 5vii of Schedule BFLA) 9

10 Deductions under Chapter VI-A (l of Schedule VIA) 10

11 Total income (9 – 10) 11

12 Net agricultural income/ any other income for rate purpose (4 of Schedule EI) 12

13 ‘Aggregate income’ (11 + 12) 13

14 Losses of current year to be carried forward (total of xi of Schedule CFL) 14

15 Deemed total income under section 115JB (6 of Schedule MAT) 15


1 Tax Payable on deemed total Income under section 115JB (7 of Schedule MAT) 1 2 Tax payable on total income in item 11 of Part B-TI

a Tax at normal rates 2a b Tax at special rates (11 of Schedule-SI) 2b

c Tax Payable on Total Income in item 11 of Part B-TI (2a + 2b) 2c 3 Gross tax payable (enter higher of 2c and 1) 3 4 Credit under section 115JAA of tax paid in earlier years (if 2c is more than 1)

( 7 of Schedule MATC) 4

5 Tax payable after credit under section 115JAA [ (3 – 4)] 5 6 Surcharge on 5 6 7 Education cess, including secondary and higher education cess on (5+6) 7 8 Gross tax liability (5+6+ 7) 8 9 Tax relief

a Section 90 9a b Section 91 9b

c Total (9a + 9b) 9c 10 Net tax liability (8 – 9c) 10 11 Interest payable



CO

MPU

TA

TIO

N O

F T

AX

LIA

BIL

ITY


a Advance Tax (from Schedule-IT) 13a b TDS (column 7 of Schedule-TDS2) 13b c TCS (column 7 of Schedule-TCS) 13c d Self Assessment Tax (from Schedule-IT) 13d

e Total Taxes Paid (13a+13b+13c + 13d) 13e 14 Amount payable (Enter if 12 is greater than 13e, else enter 0) 14

TA

XE

S PA

ID

15 Refund(If 13e is greater than 12), also give the bank account details in Schedule-BA 15

PART-C

Part-C Computation of Fringe Benefits and fringe benefit tax 1 Value of fringe benefits





e Total fringe benefits (1a + 1b + 1c + 1d) ( also 24 iv of Schedule-FB) 1e 2 Fringe benefit tax payable [30% of 1e] 2 3 Surcharge on 2 3

CO

MPU

TA

TIO

N O

F FR

ING

E

BE

NE

FIT

S A

ND

FR

ING

E

4 Education Cess including secondary and higher education cess on (2 + 3) 4


5 Total fringe benefit tax liability (2 + 3 + 4) 5 6 Interest payable

a For default in payment of advance tax (section115WJ (3))

6a

b For default in furnishing of the return (section 115WK)

6b

c Total interest payable 6c 7 Aggregate liability (5 + 6c) 7 8 Taxes paid

a Advance fringe benefit tax(from Schedule-FBT) 8a b On self-assessment (from Schedule-FBT) 8b

c Total Taxes Paid (8a + 8b) 8c 9 Tax Payable (Enter if 7 is greater than 8c, else enter 0). 9


VERIFICATION I, son/ daughter of , holding permanent account number ____________ solemnly declare that to the best of my knowledge and belief, the information given in the return and the schedules thereto is correct and complete and that the amount of total income/ fringe benefits and other particulars shown therein are truly stated and are in accordance with the provisions of the Income-tax Act, 1961, in respect of income and fringe benefits chargeable to income-tax for the previous year relevant to the assessment year 2009-2010. I further declare that I am making this return in my capacity as ___________ and I am also competent to make this return and verify it. Place Date Sign here

Schedule BA In case of refund, please furnish the following information in respect of bank account in which refund is to be credited



Schedule HP Details of Income from House Property (Please refer instructions) PIN Code


Town/ City State




e Balance (1a – 1d) 1e

f 30% of 1e 1f g Interest payable on borrowed capital 1g


i Income from house property 1 (1e – 1h) 1i

PIN Code 2

Address of property 2

Town/ City State





HO

USE

PR

OPE

RT

Y





Town/ City State




e Balance (3a – 3d) 3e

f 30% of 3e 3f g Interest payable on borrowed capital 3g


i Income from house property 3 (3e – 3h) 3i

4 Income under the head “Income from house property” a Rent of earlier years realized under section 25A/AA 4a

b Arrears of rent received during the year under section 25B after deducting 30% 4b

c Total (4a + 4b + 1i + 2i + 3i) 4c

Schedule BP Computation of income from business or profession A From business or profession other than speculative business

1 Profit before tax as per profit and loss account (item 43 or item 52d of Part A-P&L ) 1 2 Net profit or loss from speculative business included

in 1 2


3


4

5 Income credited to Profit and Loss account (included in 1) which is exempt a share of income from firm(s) 5a b Share of income from AOP/ BOI 5b

c Any other exempt income 5c

d Total exempt income 5d




8

9 Total (7 + 8) 9 10 Adjusted profit or loss (6+9) 10 11 Depreciation debited to profit and loss account included in 10 11 12 Depreciation allowable under Income-tax Act


12i


12ii




15


16


17

INC

OM

E F

RO

M B

USI

NE

SS O

R P

RO

FESS

ION


18



19


72A/80HHD/80-IA 21


22

23 Any other income not included in profit and loss account/any other expense not allowable (including income from salary, commission, bonus and interest from firms in which company is a partner)

23


amount debited to profit and loss account (item vii(4) of Schedule ESR) (if amount deductible under section 35 is lower than amount debited to P&L account, it will go to item 23)

26


27


28


account 29a



29c



i Section 44AD 33i ii Section 44AE 33ii iii Section 44AF 33iii iv Section 44B 33iv v Section 44BB 33v vi Section 44BBA 33vi vii Section 44BBB 33vii viii Section 44D 33

viii

ix Section 44DA 33ix x Chapter-XII-G 33 x xi First Schedule of Income-tax Act 33xi

xii Total (33i to 33xi) 33xii

34 Profit or loss before deduction under section 10A/10AA/10B/10BA (32 + 33x) 34 35 Deductions under section-



36 Net profit or loss from business or profession other than speculative business (34 – 35v) 36

37 Net Profit or loss from business or profession after applying rule 7A or 7B (same as above in 36 except in case of special business, after applying rule 7A or 7B)

A37

B Computation of income from speculative business 38 Net profit or loss from speculative business as per profit or loss account 38 39 Additions in accordance with section 28 to 44DA 39

40 Deductions in accordance with section 28 to 44DA 40 simpletaxindia.blogspot.com

41 Profit or loss from speculative business (38+39-40) B41 C Income chargeable under the head ‘Profits and gains’ (A37+B41) C


1 Block of assets Plant and machinery 15 30 40 50 60 80 100 2 Rate (%) (i) (ii) (iii) (iv) (v) (vi) (vii)

3 Written down value on the first day of previous year



6 Amount on which depreciation at full rate to be allowed (3 + 4 -5) (enter 0, if result in negative)



9 Amount on which depreciation at half rate to be allowed (7 – 8) (enter 0, if result is negative)

10 Depreciation on 6 at full rate 11 Depreciation on 9 at half rate 12 Additional depreciation, if any, on 4 13 Additional depreciation, if any, on 7 14 Total depreciation (10+11+12+13) 15 Expenditure incurred in connection


16 Capital gains/ loss under section 50 (5 + 8 -3-4 -7 -15) (enter negative only if block ceases to exist)

DE

PRE

CIA

TIO

N O

N P

LA

NT

AN

D M

AC

HIN

ER

Y


Schedule DOA Depreciation on other assets

1 Block of assets Building Furniture and fittings

Intangible assets

Ships

5 10 100 10 25 20 2 Rate (%)

(i) (ii) (iii) (iv) (v) (vi) 3 Written down value on the first day of

previous year



6 Amount on which depreciation at fullrate to be allowed (3 + 4 -5) (enter 0, if result in negative)




10 Depreciation on 6 at full rate 11 Depreciation on 9 at half rate 12 Additional depreciation, if any, on 4 13 Additional depreciation, if any, on 7

DE

PRE

CIA

TIO

N O

N O

TH

ER

ASS

ET

S

14 Total depreciation (10+11+12+13)


15 Expenditure incurred in connection with transfer of asset/ assets







1b


1c


1d


1e


1f


1g

h Total depreciation on plant and machinery ( 1a + 1b + 1c + 1d+ 1e + 1f + 1g ) 1h

2 Building a Block entitled for depreciation @ 5 per cent

(Schedule DOA- 14i) 2a


2b


2c

d Total depreciation on building (2a+2b+2c) 2d

3 Furniture and fittings(Schedule DOA- 14 iv) 3

4 Intangible assets (Schedule DOA- 14 v) 4

5 Ships (Schedule DOA- 14 vi) 5

SUM

MA

RY

OF

DE

PRE

CIA

TIO

N O

N A

SSE

TS


Schedule DCG Deemed Capital Gains on sale of depreciable assets


(Schedule DPM - 16i) 1a


1b


1c


1d


1e


1f


1g

h Total ( 1a +1b + 1c + 1d + 1e + 1f + 1g) 1h

2 Building a Block entitled for depreciation @ 5 per cent

(Schedule DOA- 16i) 2a


2b


2c

d Total ( 2a + 2b + 2c) 2d

3 Furniture and fittings ( Schedule DOA- 16iv) 3


4 Intangible assets (Schedule DOA- 16v) 4 5 Ships (Schedule DOA- 16vi) 5 6 Total ( 1h+2d+3+4+5) 6

Schedule ESR Deduction under section 35

Sl No

Expenditure of the nature referred to in section

(1)


(2)


(3)




1 From slump sale

a Full value of consideration 1a b Net worth of the under taking or

division 1b

c Short term capital gains from slump sale

1c

d Deduction under sections 54B/54D 1d

e Net short term capital gains from slum sale (1c – 1d) 1e 2 From assets in case of non-resident to which first proviso to section 48 applicable 2 3 From assets in the case of others



iv Total ( bi + bii + biii) biv c Balance (3a – biv) 3c d Loss, if any, to be ignored under

section 94(7) or 94(8) (enter positive values only)

e Deduction under sections 54B/54D/ 54G/ 54GA

3e

f Short-term capital gain (3c – 3d – 3e) 3f 4 Deemed short capital gain on depreciable assets (6 of Schedule-DCG) 4 5 Amount deemed to be short term capital gains under sections 54B/54D/54EC/

54ED/54G/ 54GA 5

6 Total short term capital gain (1e + 2 +3f +4 +5) 6 7 Short term capital gain under section 111A included in 6 7

8 Short-term capital gain other than referred to in section 111A (6-7) 8 B Long term capital gain

1 From slump sale a Full value of consideration 1a b Net worth of the under taking or

division 1b

c Long term capital gains from slump sale

1c

d Deduction under sections 54B/54D/ 1d



CA

PIT

AL

GA

INS

i Cost of acquisition after

indexation bi


ii Cost of improvement after indexation

bii

iii Expenditure on transfer biii iv Total (bi + bii +biii) biv

c Balance (3a – biv) 3c d Deduction under sections 54B/54D/

54EC/54G/ 54GA 3d



i Cost of acquisition without indexation

bi

ii Cost of improvement without indexation

bii

iii Expenditure on transfer biii

iv Total (bi + bii +biii) biv c Balance (4a – biv) 4c d Deduction under sections 54B/54D/

54EC/54G/ 54GA 4d

e Net balance 4e 5 Amount deemed to be long term capital gains under sections

54B/54D/54EC/54ED/54G/ 54GA 5


B6

C Income chargeable under the head “CAPITAL GAINS” (A6 + B6) (enter B6 as nil, if loss)

C

D Information about accrual/receipt of capital gain Date

Up to 15/6

(i) 16/6 to 15/9

(ii)16/9 to 15/12

(iii)16/12 to 15/3

(iv) 16/3 to 31/3

(v)1 Long- term

2 Short-term

Schedule OS Income from other sources

1 Income other than from owning race horse(s):- a Dividends, Gross 1a b Interest, Gross 1b

c Rental income from machinery, plants, buildings, etc., Gross 1c

d Others, Gross 1d



g Balance (1e – fiii) 1g 2 Winnings from lotteries, crossword puzzles, races, etc. 2 3 Income from other sources (other than from owning race horses) (1g + 2) (enter 1g as nil if loss) 3 4 Income from owning and maintaining race horses

a Receipts 4a b Deductions under section 57 in relation to (4) 4b


OT

HE

R S

OU

RC

ES



Schedule CYLA Details of Income after set-off of current years losses

House property loss of the current year set off


set off









after set off

Sl.No


1 2 3 4 5=1-2-3-4 Loss to be adjusted

i House property

ii Business (excluding speculation profit)




vi Total loss set-off

CU

RR

EN

T Y

EA

R L

OSS

AD

JUST

ME

NT

vii Loss remaining after set-off


Income after set off, if any, of current year’s





35(4) set off


after set off

Sl. No.


1 2 3 4 5

i House property





OU

GH

T F

OR

WA

RD

LO

SS

AD

JUST

ME

NT

vii Current year’s income remaining after set off Total (i5 + ii5 + iii5 + iv5+v5+vi5)


Sl. No.

Assessment Year Date of Filing

(DD/MM/YYYY)

House property loss

Loss from business other than loss from

speculative business


business




owning race horses)

i 2001-02

ii 2002-03

iii 2003-04

iv 2004-05

v 2005-06

vi 2006-07

vii 2007-08

viii 2008-09




CA

RR

Y F

OR

WA

RD

OF

LO

SS



Schedule 10A Deduction under section 10A 1 Deduction in respect of units located in Software Technology Park

a Undertaking No.1 1a b Undertaking No.2 1b c Undertaking No.3 1c d Undertaking No.4 1d e Undertaking No.5 1e

f Total (1a + 1b+ 1c + 1d + 1e) 1f








d Total (5a + 5b+ 5c) 5d

DE

DU

CT

ION

U/S

10A

6 Total of ( 1f +2d +3d+ 4d+ 5d) 6

Schedule 10AA Deduction under section 10AA

Deductions in respect of units located in Special Economic Zone a Undertaking No.1 a b Undertaking No.2 b c Undertaking No.3 c

DE

DU

CT

ION

U

/S 1

0AA


Schedule 10B Deduction under section 10B Deduction in respect of hundred percent Export Oriented units

a Undertaking No.1 a b Undertaking No.2 b c Undertaking No.3 c d Undertaking No.4 d e Undertaking No.5 e

DE

DU

CT

ION

U/S

10

B


Schedule 10BA Deduction under section 10BA Deduction in respect of exports of hand-made wooden articles

a Undertaking No.1 a b Undertaking No.2 b c Undertaking No.3 c d Undertaking No.4 d e Undertaking No.5 e

DE

DU

CT

ION

U/S

10

BA



Schedule 80G Details of donations entitled for deduction under section 80G A Donations entitled for 100% deduction


i Ai

ii Aii

iii Aiii

iv Aiv

v Av


80G(5) (vi)


i Bi

ii Bii

iii Biii

iv Biv

v Bv


80G(5) (vi)


i Ci

ii Cii

iii Ciii

iv Civ

v Cv

vi Total Cvi

DE

TA

ILS

OF

DO

NA

TIO

NS

D Total donations (Avi + Bvi + Cvi) D




b


c


d

e Deduction in respect of profits of an undertaking referred to in section 80-IA(4)(v) [Revival of power generating plant] and deduction in respect of profits of an undertaking referred to in section 80-IA(4)(vi) [Cross-country natural gas distribution network]

e

DE

DU

CT

ION

U/S

80-

IA


Schedule 80-IB Deductions under section 80-IB a Deduction in respect of industrial undertaking referred to

in section 80-IB(3) [Small-scale industry] a


b


c


d


e

DE

DU

CT

ION

U/S

80-

IB


f



g


h


i


j


k


l


m



a Assam 4a b Arunachal Pradesh 4b c Manipur 4c d Mizoram 4d e Meghalaya 4e f Nagaland 4f g Tripura 4g


DE

DU

CT

ION

U/S

80-

IC


Schedule VI-A Deductions under Chapter VI-A a 80G g 80IB (n of Schedule

80-IB

b 80GGA h 80IC/ 80-IE (5 of Schedule 80-IC/ 80-IE)

c 80GGB i 80ID/ 80JJA

d 80GGC j 80JJAA

e 80IA (f of Schedule 80-IA)

k 80LA

f 80IAB

TO

TA

L D

ED

UC

TIO

NS

m Total deductions under Chapter VI-A (Total of a to k) m


Section code

Special rate (%)

Income i

Tax thereon ii

Sl No

Section code

Special rate (%)

Income i

Tax thereon ii

1 6

2 7

3 8

4 9

5 10

SPE

CIA

L R

AT

E




1 Interest income 1

2 Dividend income 2


4 Net Agriculture income(other than income to be excluded under rule 7, 7A, 7B or 8) 4


6 Others 6 EX

EM

PT IN

CO

ME

7 Total (1+2+3+4+5+6) 7

Schedule MAT Computation of Minimum Alternate Tax payable under section 115JB

1 Whether the Profit and Loss Account is prepared in accordance with the provisions of Parts II and III of Schedule VI to the Companies Act, 1956 (If yes, write ‘1’, if no write ‘2’)

2 Whether, for the Profit and Loss Account referred to in item 1 above, the same accounting policies, accounting standards and same method and rates for calculating depreciation have been followed as have been adopted for preparing accounts laid before the company at its annual general body meeting? (If yes, write ‘1’, if no write ‘2’

3 Profit before tax as shown in the Profit and Loss Account (enter item 42 of PartA-P&L) 3

4 Additions (if debited in profit and loss account)

a Income Tax paid or payable or its provision (other than FBT)

4a

b Reserve (except reserve under section 33AC) 4b c Provisions for unascertained liability 4c d Provisions for losses of subsidiary companies 4d e Dividend paid or proposed 4e f Expenditure related to exempt income under sections

10, 10AA, 11 or 12 [exempt income excludes income exempt under section 10(38)]

4f

g Depreciation attributable to revaluation of assets 4g h Others (including residual unadjusted items) 4h

i Total additions (4a+4b+4c+4d+4e+4f+4g+4h) 4i

5 Deductions

a Amount withdrawn from reserve or provisions if credited to Profit and Loss account

5a

b Income exempt under sections 10, 10AA, 11 or 12 [exempt income excludes income exempt under section 10(38)]

5b

c Amount withdrawn from revaluation reserve and credited to profit and loss account to the extent it does not exceed the amount of depreciation attributable to revaluation of asset

5c

d Loss brought forward or unabsorbed depreciation whichever is less

5d

e Profit of sick industrial company till net worth is equal to or exceeds accumulated losses

5e

f Others (including residual unadjusted items) 5f

g Total deductions (5a+5b+5c+5d+5e+5f) 5g

6 Book profit under section 115JB (3+ 4i – 5g) 6

MIN

IMU

M A

LT

ER

NA

TE

TA

X

7 Tax payable under section 115JB [10% of (6)] 7

Schedule MATC Computation of tax credit under section 115JAA 1 Tax under section 115JB in assessment year 2008-09 1 2 Tax under other provisions of the Act in assessment year 2008-09 2 3 Amount of MAT liability in respect of assessment year 2008-09available for credit in

subsequent assessment years [enter (1 – 2) if 1 is greater than 2, otherwise enter 0] plus brought forward MAT credit for assessment year 2006-07 and 2007-08

3

4 Tax under section 115JB in assessment year 2009-10 4 5 Tax under other provisions of the Act in assessment year 2009-10 5 6 Amount of tax against which credit in respect of 3 is available [enter (5 – 4) if 5 is greater than

4, otherwise enter 0] 6

MA

T C

RE

DIT

7 Amount of tax credit under section 115JAA [enter lower of 3 and 6] 7


8 Balance MAT liability in respect of assessment year 2006-07, 2007-08 and 2008-09 available for credit in subsequent assessment years [enter (3 – 7) if 3 is more than 6, otherwise enter 0]

8

9 Amount of MAT liability in respect of assessment year 2009-10 available for credit in subsequent assessment years [enter (4 – 5) if 4 is greater than 5, otherwise enter 0]

9

Schedule - DDT Details of payment of Dividend Distribution Tax 1 Date of declaration of distribution or payment of any dividend profits of domestic companies 1 2 Rate of dividend, distributed or paid during the previous year

a Interim (rate %) 2a

b Final (rate %) 2b

3 Amount of any dividend declared, distributed or paid 3 4 Tax payable on dividend declared, distributive or paid

a Additional Income-tax payable under section 115-O 4a


c Education Cess on (4a + 4b) 4c

d Total tax payable (4a + 4b + 4c) 4d 5 Interest payable under section 115P 5 6 Additional income-tax + interest payable (4d + 5) 6 7 Tax and interest paid (Total of v Schedule DDTP) 7

DIV

IDE

ND

DIS

TR

IBU

TIO

N T

AX

8 Net payable/ refundable (6-7) 8

Schedule - FBI Information regarding calculation of value of fringe benefits

1 Are you having employees based both in and outside India? If yes write 1, and if no write 2 2 If answer to ‘1’ is yes, are you maintaining separate books of account for Indian and foreign operations?




b Number of employees outside India 3b

FRIN

GE

BE

NE

FIT

IN

FOR

MA

TIO

N




Percent-age


Sl. No.



1ii 100 1iv


2ii 100 2iv

3 Entertainment 3ii 20 3iv



aiv



cii 5 civ


dii 5 div


5ii 20 5iv


6ii 20 6iv




aiv

VA

LU

E O

F FR

ING

E B

EN

EFI

TS




cii 5 civ


dii 5 div

9 a

Use of hotel, boarding and lodging facilities in the business other than the business referred to in 9b or 9c or 9d or 9e

aii 20

aiv


bii 5

biv


cii 5

civ


dii 5

div

e Use of hotel, boarding and lodging facilities in the

business of carriage of passengers or goods by ship eii 5

eiv

a


aii

20

aiv

10

b


bii

5

biv


11ii 20

11iv


12ii 20 12iv


13ii 0 13iv













Schedule IT Details of Advance Tax and Self Assessment Tax Payments of Income-tax

Sl No



Amount (Rs)

i

ii

iii

iv

v

vi

TA

X P

AY

ME

NT

S

NOTE ► Enter the totals of Advance tax and Self Assessment tax in Sl No. 15a & 15d of PartB-TTI




Deductor

Unique Transaction

Number (UTN)



Total tax deducted


this year

(1) (2) (8) (3) (4) (5) (6) (7)

i

ii

T

DS

ON

INC

OM

E

NOTE ► Enter the total of column (7) in Sl No. 15b of PartB-TTI


Tax Deduction and Tax Collection Account Number

of the Collector

Unique Transaction

Number (UTN)




Total tax deducted

Amount out of (6) to be allowed as credit during

the year (1) (2) (8) (3) (4)

(5) (6) (7)

i

ii

T

CS

ON

INC

OM

E

NOTE ► Enter the total of column (7) in Sl No. 15c of PartB-TTI




Amount (Rs)

i

ii

iii

iv

v TA

X P

AY

ME

NT

S

NOTE ► Enter the total of v in 8a and 8b of PART-C

Schedule DDTP Details of payment of Dividend Distribution Tax Sl No



Amount (Rs)

i

ii

iii

iv

v TA

X P

AY

ME

NT

S

NOTE ► Enter the total of v in 7 of Schedule DDT




doubt, please refer to relevant provisions of the Income-tax Act, 1961 and the Income-tax Rules, 1962. 2. Assessment Year for which this Form is applicable This Form is applicable for assessment year 2009-2010 only. 3. Who can use this Form

This Form can be used by a company, other than a company claiming exemption under section 11 4. Annexure-less Form No document (including TDS/ TCS certificate, report of audit) should be attached to this form. Official receiving the return has

been instructed to detach all documents enclosed with this form and return the same to the assessee. 5. Manner of filing this Form This Form has to be compulsorily furnished to the Income Tax Department in any of the following manners:-

(i) furnishing the return electronically under digital signature; (ii) transmitting the data in the return electronically and thereafter submitting the verification of the return in Form ITR-V;

Where the form is furnished in the manner mentioned at 5(ii), you need to print out two copies of Form ITR-V. Both copies should be verified by the assessee and submitted to the Income-tax Department. The receiving official shall return one copy after affixing the stamp and seal.

6. Filling out the acknowledgement Where the form is furnished in the manner mentioned at 5(i), acknowledgement slip attached with this Form should be duly filled out.


8. Intimation of processing under section 143(1)/115WE(1) The acknowledgement of the return is deemed to be the intimation of processing under section 143(1)/115WE(1). No separate intimation will be sent to the taxpayer unless there is a demand or refund.


(i) The code (to be filled in the section “Filing Status” on first page) for sections under which the return is filed are as under:- (a) Return of income-

Sl.No. How the return is filed Code i. Voluntarily on or before the due date 11 ii. Voluntarily after the due date 12 iii. In response to notice under section 142(1) 13 iv. In response to notice under section 148 14 v. In response to notice under section 153A/ 153C 15

(b) Return of fringe benefits- Sl.No. How the return is filed Code i. Voluntarily before the due date 21 ii. Voluntarily after the due date 22 iii. In response to notice under section 115WD(2) 23 iv. In response to notice under section 115WG 24


Sector Sub-Sector Code Agro-based industries 0101 Automobile and Auto parts 0102 Cement 0103 Diamond cutting 0104 Drugs and Pharmaceuticals 0105 Electronics including Computer Hardware 0106 Engineering goods 0107 Fertilizers, Chemicals, Paints 0108 Flour & Rice Mills 0109 Food Processing units 0110 Marble & Granite 0111 Paper 0112 Petroleum and Petrochemicals 0113 Power and energy 0114 Printing & Publishing 0115 Rubber 0116 Steel 0117 Sugar 0118 Tea, Coffee 0119 Textiles, handloom, Power looms 0120 Tobacco 0121 Tyre 0122 Vanaspati & Edible Oils 0123

(1) Manufacturing Industry

Others 0124 (2) Trading Chain Stores 0201


Retailers 0202 Wholesalers 0203 Others 0204

(3) Commission Agents

General Commission Agents 0301


(4) Builders

Others 0404 Civil Contractors 0501 Excise Contractors 0502 Forest Contractors 0503 Mining Contractors 0504

(5) Contractors


(6) Professionals


(7) Service Sector




(9) Entertainment Industry

Others 0906

(iii) In Schedule SI, the codes for the sections which prescribed special rates of tax for the income mentioned therein are as under:-

Sl. No. Nature of income Section Rate of tax Section code

1. Tax on accumulated balance of recognised provident fund

111 To be computed in accordance with rule 9(1) of Part A of fourth Schedule

1

2. Short term capital gains 111A 15 1A 3. Long term capital gains (with indexing) 112 20 21 4. Long term capital gains (without indexing) 112 10 22 5. Dividends, interest and income from units




50 FA

7. Income from royalty & technical services 115A(1)(b) if agreement is

30 5A1b1


entered on or before 31.5.1997


20 5A1b2


10 5A1b3


115AB(1)(a) 10 5AB1a


115AB(1)(b) 10 5AB1b


115AC(1) 10 5AC


115ACA(1) 10 5ACA

14. Profits and gains of life insurance business 115B 12.5 5B 15. Winnings from lotteries, crosswords puzzles, races

including horse races, card games and other games of any sort or gambling or betting of any form or nature whatsoever

115BB 30 5BB


115BBA 10 5BBA


115BBB 10 5BBB





(i) Classify all items of income under the following heads of income- (A) “Income from house property”; (B) “Profit and gains from business or profession”; (C) “Capital gains”;

and (D) “Income from other sources”. [There may be no income under one or more of the heads at (A), (B), (C) and (D)].








(b) In case, the tax liability computed as above is less than 10% of book profit, the company is required to pay

minimum alternate tax ( MAT) under section 115JB at the rate of 10% of the profit. The excess tax so paid is allowable to be carried forward for credit in the year in which tax liability under the normal provisions of the Act is more than MAT liability. Such carry-forward is allowable upto 5 years

(c) Add surcharge at the rate of 10% of the tax liability computed as explained in (a) and (b) above. However, the rate of surcharge is two and half per-cent in case of a company, not being a domestic company

(c) Add Education Cess including secondary and higher education cess at the rate of 3% on the tax payable plus surcharge.

(d) Claim relief(s) as prescribed by the law, for double taxation and calculate balance tax and surcharge payable. simpletaxindia.blogspot.com

(e) Add interest payable as prescribed by the law to reach total tax, surcharge and interest payable. (f) Deduct the amount of prepaid taxes, if any, like “tax deducted at source”, “advance-tax” and “self-assessment-tax”.

The result will be the tax payable (or refundable). (3) Computation of fringe benefits and income-tax, surcharge, education cess including secondary and higher education cess

and interest in respect of fringe benefits chargeable to tax (a) Chapter XII-H of the Act relates to income-tax on fringe benefits paid or deemed to have been paid by an employer

to his employees. . (b) Section 115WB provides the list of fringe benefits provided or deemed to have been provided by an employer to his

employees which are chargeable to tax. Section 115WC provides as to how to compute the value of the fringe benefits provided or deemed to have been provided.

(c) Additional income-tax (fringe benefit tax) is required to be paid by every specified employer at the rate of thirty per cent on the value of such fringe benefits. Surcharge and Education Cess including secondary and higher education cess at specified rates are also to be paid on fringe benefit tax (FBT). FBT is payable by an employer even if no income-tax is payable by him on his total income.



(f) The explanatory circular (No. 9 dated 20.12.2007) on Fringe Benefit Tax arising on allotment or transfer of specified securities or sweat equity shares may also be referred to, if applicable, while working out the value of fringe benefits.

(4) Obligation to file return of income (a) Every company shall furnish the return of income whether it has income or loss during the year. (b) The losses, if any, (item-14 of Part B-TI of this Form) shall not be allowed to be carried forward unless the

return has been filed on or before the due date. (c) The deduction under sections 10A, 10B, 80-IA, 80-IAB, 80-IB and 80-IC shall not be allowed unless the

return has been filed on or before the due date.

11. SCHEME OF THE FORM The Scheme of this form follows the scheme of the law as outlined above in its basic form. The Form has been divided into three parts. It also has thirty five schedules. The details of these parts and the schedules are as under:-


(a) Part A-GEN mainly seeks general information requiring identificatory and other data; (b) Part A-BS seeks the balance sheet as on 31st March,2009; (c) Part A-P&L seeks information regarding the Profit and loss account for the financial year 2008-09; (d) Part A-OI seeks other information. It is optional in a case not liable for audit under section 44AB (e) Part A-QD seeks information regarding quantitative details of the principal item of goods traded. It is optional in a case

not liable for audit under section 44AB. (ii) The second part, i.e, Part-B is regarding an outline of the total income and tax computation in respect of income chargeable to

tax. (iii) After Part B, there is –


(b) a space for a statutory verification (iv) Part-C is regarding an outline of the value of fringe benefits and tax computation thereon (v) There are 35 schedules details of which are as under-

(a) Schedule BA: Details of Bank account (b) Schedule-HP: Computation of income under the head Income from House Property (c) Schedule-BP: Computation of income under the head “profit and gains from business or profession” (d) Schedule-DPM: Computation of depreciation on plant and machinery under the Income-tax Act (e) Schedule DOA: Computation of depreciation on other assets under the Income-tax Act (f) Schedule DEP: Summary of depreciation on all the assets under the Income-tax Act (g) Schedule DCG: Computation of deemed capital gains on sale of depreciable assets (h) Schedule ESR: Deduction under section 35 (expenditure on scientific research) (i) Schedule-CG: Computation of income under the head Capital gains. (j) Schedule-OS: Computation of income under the head Income from other sources. (k) Schedule-CYLA: Statement of income after set off of current year’s losses (l) Schedule-BFLA: Statement of income after set off of unabsorbed loss brought forward from earlier years. (m) Schedule- CFL: Statement of losses to be carried forward to future years. (n) Schedule- 10A: Computation of deduction under section 10A (o) Schedule- 10AA: Computation of deduction under section 10AA (p) Schedule- 10B: Computation of deduction under section 10B (q) Schedule- 10BA: Computation of deduction under section 10BA (r) Schedule- 80G: Details of donation entitled for deduction under section 80G (s) Schedule- 80IA: Computation of deduction under section 80IA (t) Schedule- 80IB: Computation of deduction under section 80IB (u) Schedule- 80IC: Computation of deduction under section 80IC (v) Schedule-VIA: Statement of deductions (from total income) under Chapter VIA. (w) Schedule-SI: Statement of income which is chargeable to tax at special rates (x) Schedule-EI: Statement of Income not included in total income (exempt incomes) (y) Schedule-MAT: Computation of Minimum Alternate Tax payable under section 115JB


(z) Schedule-MATC: Computation of tax credit under section 115JAA (aa) Schedule-DDT: Details of payment of Dividend Distribution Tax (bb) Schedule-FBI: Information regarding calculation of value of fringe benefits (cc) Schedule-FB: Computation of value of fringe benefits (dd) Schedule-IT: Statement of payment of advance-tax and tax on self-assessment. (ee) Schedule-TDS2: Statement of tax deducted at source on income other than salary. (ff) Schedule-TCS: Statement of tax collected at source (gg) Schedule-FBT: Statement of payment of Fringe Benefit Tax (hh) Schedule-DDTP: Details of payment of Dividend Distribution Tax



(ii) If any schedule is not applicable score across as “---NA---“. (iii) If any item is inapplicable, write “NA” against that item. (iv) Write “Nil” to denote nil figures. (v) Except as provided in the form, for a negative figure/ figure of loss, write “-” before such figure. (vi) All figures should be rounded off to the nearest one rupee. However, the figures for total income/ loss and tax payable be

finally rounded off to the nearest multiple of ten rupees. (2) Sequence for filling out parts and schedules

(i) Part A (ii) Schedules (iii) Part B (iv) Details of electronic transmission if return filed in accordance with manner specified in instruction No.5(iii) (v) Verification .

13. PART A-GEN Most of the details to be filled out in Part-Gen of this form are self-explanatory. However, some of the details mentioned below are to be filled out as explained hereunder:- (a) e-mail address and phone number are optional; (b) In case of an individual, for “employer category”, Government category will include Central Government/ State


(c) The code for sections under which the return is filed be filled as per code given in instruction No.9(i). (d) In case the return is being filed by you in a representative capacity, please ensure to quote your PAN in item “PAN of

the representative assessee”. In case the PAN of the person being represented is not known or he has not got a PAN in India, the item for PAN in the first line of the return may be left blank. It may please be noted that in the first line of this form, the name of the person being represented be filled.

14. PART A-BS AND PART A-P&L (a) The Balance Sheet as on 31st March, 2009 and the profit and loss account for financial year 2008-09 in the

formats provided in these parts have to be filled in respect of proprietory business or profession carried out by you during the financial year 2008-09 if you were required to maintain accounts of the business or profession during the year.

( b) In case, accounts of the business or profession were required to be audited, the items of balance sheet and profit and loss account filled in the these parts should broadly match with the audited balance sheet and profit and loss account.

(c) In case, you were not required to maintain accounts of the business or profession during the year, please fill out the details mentioned in these parts against portion ‘No account case’.

15. PART A- OI AND PART A-QD (a) If the accounts of the business or profession were not required to be audited under section 44AB, it is

optional to fill these parts. (b) Where the accounts of the business or profession were required to be audited under section 44AB, the

details to be filled in these parts which are also required to be reported in the report of audit by the auditors, should broadly match with the details as given in the report of audit.


(d) In Part A-QD, the quantitative details may be furnished only in respect of principal items. 16. SCHEDULES

(a) Schedule- BA: In this schedule, please quote the MICR code of the bank if you desire to receive the refund through electronic

clearing system (ECS). However, it may not be possible to issue the refund in all cases through ECS since the ECS facility is not available across the country.

(b) Schedule-HP,- If there are three or less than three house properties, fill out the details for each properties in this Schedule. If there are more than three house properties, the details of remaining properties be filled in a separate sheet in the format of this Schedule and attach this sheet with this return. The results of all the properties have to be filled in last row of this Schedule. Following points also need to be clarified,-





(c)Schedule-BP,- (i) The computation in this schedule has to be started on the basis of profit before tax as shown in item 43 of

Part-A- P&L. (ii) In case any item of addition or deduction not covered by the items mentioned in this schedule be filled in

residual items 21 and 26 of this schedule. (iii) In case accounts of business or profession are not maintained, the profit as entered into by you in item 50d

of Part A-P&L. (iv) In case, agricultural income to be excluded on the basis of rule 7A, 7B or 7C (in business of growing and

manufacturing tea, coffee etc), it shall not be included in the item 5c of this schedule. (v) In A-37, net profit or loss from business or profession is to be computed, only in special cases, e.g.

business of growing and manufacturing tea, coffee, etc., where rules 7A, 7B or 7C is applicable otherwise, the figure of profit/ loss as computed is A-36 may be entered.

(vi) Item C of this schedule computes the total of profit or loss from business or profession (other than speculative business and profit or loss from speculative business) (item A37 + item B41). Please note that if balance in item B41 in respect of speculative business is a loss, same shall not be set-off against profit from non-speculative business. In such situation, only the figures of item A37 be entered in item C.

(e) Schedule-DPM, Schedule DOA, Schedule DEP and Schedule DCG: For sake of convenience, computation of depreciation allowable under the Income-tax Act [other than in case of an undertaking generating electricity which may at its option claim deprecation on straight line method under section 32(1)(i)], has been divided into two parts i.e. in schedules DPM (depreciation on plant and machinery)and DOA (depreciation on other assets). The summery of depreciation as per these schedules has to be shown in schedule DEP. Deemed short term capital gain, if any as computed in schedule DPM and DOA has to be entered into schedule DCG.

(f) Schedule ESR: Deduction under section 35 (expenditure on scientific research): In column (2) of this schedule, please furnish the details of deduction to which you are entitled under provisions

of this section. In column (1), please enter the amounts of expenses of the nature covered by section 35 which are, if, debited to profit and loss account. Please note that no deduction for depreciation is available in respect of capital asset for which deduction under section 35(1)(iv) has been claimed.

(f) Schedule-CG,- (i) If more than one short-term capital asset has been transferred, make the combined computation for all the

assets. Similarly, make the combined computation for all the assets if more than one long-term capital asset has been transferred.



(iii) Sections 54/54B/54D/54EC/ 54F/54G/54GA mentioned in this schedule provides exemption on capital

gains subject to fulfillment of certain conditions. Exemption under some of these sections is available only in respect of long-term capital gains. Therefore, please ensure that you are claiming the benefit of any of these sections correctly in accordance with the provisions of law.


(g) Schedule-OS,- (a) Against item 1a and 1b, enter the details of gross income by way of dividend and interest which is not

exempt. (b) Against item 1c, indicate the gross income from machinery, plant or furniture let on hire and also such



(c) Income from owning and maintaining race horses is to be computed separately as loss from owning and maintaining race horses cannot be adjusted against income from any other source, and can only be carried forward for set off against similar income in subsequent years.

(d) Winnings from lotteries, crossword puzzles, races, etc., are subject to special rates of tax; hence a separate item is provided and the income from these can not be adjusted against the losses arising under the head Income from other sources.

(e) Item 5 of this Schedule computes the total income chargeable under the head “Income from other sources” (item 1g + item 2 + item 3 + item 4c). If balance in item 4c from owning and maintaining race horses is a loss, please enter 0 and enter the total of item 3 in item 5 only.

(h) Schedule-CYLA,-

(i) Mention only positive incomes of the current year in column 1, headwise, in the relevant rows. (ii) Mention total current year’s loss(es), if any, from house property, business or profession and other sources

(other than losses from race horses) in the first row against the heading loss to be adjusted under the respective head.. These losses are to be set off against income under other heads in accordance with the provisions of section 71. The amount set off against the income of respective heads has to be entered into in columns 2, 3 and 4, in the relevant rows.




rows. (iii) The end result of the set off will be entered in column 3 in respective heads. The total of column 3 shall be

entered in row viii which shall give the amount of gross total income. (iv) The total amount of brought forward losses set off during the year shall be entered in column 2 of row vii.

(j) Schedule-CFL,- (i) In this Schedule, the summary of losses carried from earlier years, set off during the year and to be carried

forward for set off against income of future years is to be entered. (ii) The losses under the head “house property”, ‘profit and gains of business or profession” short term capital

loss and long term capital loss, losses from other sources (other than losses from race horses) are allowed to be carried forward for 8 years. However, loss from owning and maintaining race horses can be carried forward only for 4 assessment years.

(k) Schedule- 10A,- (i) If there are more than one undertaking entitled for deduction under this section, please enter the details of

deduction for each undertaking separately. (ii) The amount of deduction under this section for an undertaking shall be as per item 17 of Form No.56F

being the report of audit under section 10A. (l) Schedule-10AA,-


(m) Schedule-10B,- (i) If there are more than one undertaking entitled for deduction under this section, please enter the details of

deduction for each undertaking separately. (ii) The amount of deduction under this section for an undertaking shall be as per item 17 of Form No.56G

being the report of audit under section 10B. (n) Schedule- 10BA,-



(o) Schedule- 80G,- (i) In this Schedule, the details of donation given by you which are entitled for deduction under section 80G

have to be filled. (ii) In Part-A of this Schedule, the details of donations which are entitled for 100% deduction are to be filled

in. Section 80G(1)(i) read with section 80G(2) contains the list of funds/ institutions donations to which are eligible for 100% deduction in hands of the donar.



(v) It may kindly be noted that where the aggregate donations referred to in Part-C and donations referred to in sub-clauses (v), (vi), (via) and (vii) of clause (a) and in clauses (b) and (c)of section 80G(2) exceeds 10% of total income (before deduction under other provisions of Chapter VI-A), than the excess amount shall be ignored for purpose of computing deduction under section 80G.

(p) Schedule- 80IA, Schedule- 80IB, Schedule- 80IC and Schedule-80-IE: (i) If there are more than one undertaking entitled for deduction under any of these sections, please enter the

details of deduction in relevant schedule for each undertaking separately.


(ii) The amount of deduction for an undertaking shall be as per item 30 of Form No.10CCB being the report of audit under sections 80-IA/ 80-IB/ 80-IC and 80-IE.

(q) Schedule-VIA,- (i) The total of the deductions allowable is limited to the amount of gross total income. For details of

deductions allowable, the provisions of the Chapter VI-A may kindly be referred to. (ii) For deductions under sections 80-IA, 80-IB, 80-IC and 80-IE the amount as shown in Schedules 80-IA, 80-

IB and 80-IC be filled. The amount of deduction to be claimed under section 80-ID may be shown in this Schedule itself.

(iii) Details of other deductions which are available are as under:-

(A) Section 80G (Deduction in respect of donations to certain funds, charitable institutions, etc.) (B) Section 80GGA (Deduction in respect of certain donations for scientific research or rural

development) (C) Section 80GGC (Deduction in respect of contributions given by any person to political parties) (D) Section 80JJA (Deduction in respect and gains from business of collecting and processing of bio-

degradable waste) (E) Section 80LA (Deduction in respect of certain incomes of Offshore Banking Units and

International Financial services Centre). (r) Schedule-SI,- Mention the income included in total income which is chargeable to tax at special rates. The codes for

relevant section and special rate of taxes are given in Instruction No.9(iii). (s) Schedule-EI,- Furnish the details of income like agriculture income, interest, dividend, etc. which is exempt from tax. (t) Schedule – MAT: Compute the book profit under section 115JB. The tax liability under said section shall be 10 per

cent of the book profit so computed. The computation should be based on profit and loss account laid at annual general meeting in accordance with the provisions of section 210 of the Companies Act,1956. Further, the computation in this Schedule be based on Form 29B. However, Form 29B is not to be attached with the return.

(u) Schedule MATC: Credit for MAT paid in assessment year 2006-07, 2007-2008 and 2008-09, in excess of the normal tax liability, is allowed to be set off against the normal tax liability of assessment year 2009-2010. However, the credit is restricted to the extent of the normal tax liability for assessment year 2009-2010 exceeds the MAT liability for that year.

(v) Schedule DDT: The principal officer of the company is liable to pay the tax on distributed profits to the credit of the Central Government within 14 days from the date of declaration of any dividend or distribution of any dividend or payment of any dividend, whichever is earliest. Please note that simple interest is chargeable under section 115P at the rate of 1% of delay for every month or part thereof in payment of the tax on distributed profits to the credit of the Central Government.

(w) Schedule-FBI: The information in this Schedule shall enable computation of the value of fringe benefits in a case where the assessee is having business operation outside India also. Please note that even if there were no employees or business operation outside India, the details of total number of employees based in India have to be filled in row 3a of this Schedule.

(x) Schedule-FB: (i) This Schedule has been structured so as to compute the value of fringe benefits in a Tabular form. (ii) In column i, the nature of fringe benefits as provided in section 115WB in relation to which value of fringe

benefits under section 115WC is to be computed has been provided. (iii) (a) In column ii, the amount/ value of items mentioned in column i have to be filled in.










(y) Schedule-IT,- In this Schedule, fill the details of payment of advance income-tax and income-tax on self-assessment.

The details of BSR Code of the bank branch (7 digits), date of deposit, challan serial no., and amount paid should be filled out from the acknowledgement counterfoil.

(z) Schedules- TDS2,- In this Schedule fill the details of tax deducted on the basis of TDS certificates (Form 16 or Form No.16A) issued by the deductor(s). Details of each certificate are to be filled separately in the rows. In case rows provided in these Schedules are not sufficient, please attach a table in same format. It may please be noted that the TDS certificates are not to be annexed with the Return Form. In order to enable the Income Tax Department to


provide accurate, quicker and full credit for taxes deducted at source, the taxpayer must ensure to quote the Unique Transaction Number (UTN) in respect of every TDS transaction. In general the UTN would be printed on the TDS certificate issued by the deductor. However, in case it is not available on the certificate, the taxpayer should separately obtain the UTN either from the deductor or from the website of National Securities Depository Limited (NSDL) at http://www.tin-nsdl.com.

(aa) Schedule TCS,- In this Schedule, fill the details of tax collected at source on the basis of TCS certificates (Form No. 26) issued by the Collector. In case rows provided in these Schedules are not sufficient, please attach a table in same format. It may please be noted that the TDS certificates are not to be annexed with the Return Form. In order to enable the Income Tax Department to provide accurate, quicker and full credit for taxes collected at source, the taxpayer must ensure to quote the Unique Transaction Number (UTN) in respect of every TCS transaction. In general the UTN would be printed on the TCS certificate issued by the collector. However, in case it is not available on the certificate, the taxpayer should separately obtain the UTN either from the collector or from the website of National Securities Depository Limited (NSDL) at http://www.tin-nsdl.com.

(bb) Schedule-FBT,- In this Schedule, fill the details of payment of fringe benefit tax by way of advance tax and on self-assessment. The details of BSR Code of the bank branch (7 digits), date of deposit, challan serial no., and amount paid should be filled out from the acknowledgement counterfoil

(cc) Schedule-DDTP: In this Schedule, fill the details of payment of dividend distribution tax . The details of BSR Code of the bank branch (7 digits), date of deposit, challan serial no., and amount paid should be filled out from the acknowledgement counterfoil


(i) In this part the summary of income computed under various heads and as set off in Schedule CFLA and Schedule BFLA is to be entered.

(ii) Every entry which have to be filled on basis of Schedules have been crossed referenced and hence doesn’t need any further clarification.


(a) in item 1a , fill the details of gross tax liability to be computed at the applicable rate. The tax liability has to be computed at the rates given as under:- (A) In case of a domestic company, @ 30% of the total income; (B) In a case of a company other than a domestic company –

- @ 50% of on so much of the total income as consist of (a) royalties received from Government or an Indian concern in pursuance of an agreement made by it with the Government or the Indian concern after the 31st day of March, 1961 but before the 1st day of April, 1976; or (b) fees for rendering technical services received from Government or an Indian concern in pursuance of an agreement made by it with the Government or the Indian concern after the 29th day of February, 1964 but before the 1st day of April, 1976, and where such agreement has, in either case, been approved by the Central Government;

- @ 30% of the balance

(b) In item 8, fill the details of surcharge computed @ 10% of tax in case of a domestic company and @ two and a half per cent of the tax arrived upon in item 7.

(c) In item No. 9, calculate the education cess including secondary and higher education cess at the rate of three per cent of [item No.7 + item No. 8]

19. PART C-FB-COMPUTATION OF VALUE OF FRINGE BENEFITS AND TAX THEREON

(i) Quarter wise break-up of fringe benefits is required to be given in items 1 to 4, so as to facilitate computation of interest in item 12 for default in paying the quarterly instalments of advance fringe benefits tax.


(iii) In item 6, compute the fringe benefit tax payable on the value of fringe benefits for the previous year, i.e., on the amount in item 5.




20. VERIFICATION

(a) In case the return is to be furnished electronically under digital signature, please fill up the required information in the

Verification. Strike out whatever is not applicable. Please ensure that the verification has been signed before furnishing the return. Write the designation of the person signing the return.

(b) In case the return is to be furnished electronically in the manner mentioned in instruction no. 5(iii), please fill verification form (Form ITR-V).



Assessment YearFO

RM

ITR-7

INDIAN INCOME TAX RETURN( Including Fringe Benefit Tax Return)

For persons including companies required to furnish return under section 139(4A) or section 139(4B) or section 139(4C) or section 139(4D)

(Please see rule 12 of the Income-tax Rules,1962)(Also see attached instructions)

2 0 0 9 - 1 0

Part A-GEN GENERAL1. PERMANENT ACCOUNT NUMBER (PAN)

2. NAME (As mentioned in deed of creation/ establishing/ incorporation/ formation)

3. ADDRESS(Flat No./Door/House No.,Premises, Road, Locality)

Pin Telephone Fax, if any

4. Date of formation (DD-MM-YYYY) 5. Status (Please see instructions)

6. e-mail ID:

7. Is there any change in Address? Yes No

8. Number and Date of registration under section 12A(a) and

9. If claiming exemption under section 10:

(i) Mention the clause(s) and sub-clause(s)

(ii) Date of notification/ approval, if any

(iii) Period of validity To

10. Whether liable to tax at maximum marginal rate under section 164 Yes No

11. Ward/ Circle/ Range

12. Assessment Year 13. Residential Status (Please see instructions)

14. If there is change in jurisdiction, state old Ward/ Circle/ Range

15. Section under which this return is being filed(Please see instructions)

Return of Income Return of fringe benefits

16. Whether Original or Revised Return

If revised, Receipt No. and date of filing original return. and

17. Is this your first return? Yes No

For Office Use Only For Office Use Only

Receipt No

Date

Seal and Signature of receiving official

- -

- -

- -

- -

- -- -

-


PART-B(a) Computation of total income

18. Income from house property [Sch.-(F-1A)]

19. (i) Profits and gains of business or profession [Sch.-(F-1B)]

(ii) Profits and gains from transactions chargeable to securities transaction tax included in (i) above (Sch.-(B-26(ii)]

20. Capital gains

(a) Short-term (under section 111A) [Sch.-F-1C(i)]

(b) Short-term (others) [Sch.- F-1C(ii)]

(c) Long-term [Sch.- F-1C(iii)]

21. Income from other sources [Sch.- F-1D]

22. Deemed income under section 11 [F-4(iv)]

23. Total [(18)+(19)+(20)+(21)+(22)]

24. Less: Exempt income [Sch.-F3(ix)]

25. Income chargeable under section 11(4) [Sch.-B(34)]

26. Total income [(23) – (24)+(25)]

In words

(b) Statement of taxes on total income

27. Net agricultural income [Sch.F-9]

28. Tax on total income [Sch.G-6]

29. Surcharge [Sch.G-7]

30. Education, including secondary and higher education cess [Sch.G-9]

31. Tax + Surcharge + Education Cess [Sch.G-10]

32. Tax deducted/ Collected at source [Sch.G-14B]

33. Advance tax paid [Sch.G-14A]

34. Self-assessment tax paid [Sch.G-14C]

35. Balance tax payable [(31) – (32) – (33) – (34)]

36. Interest payable under section 234A/ 234B/ 234C [Sch.G-11]

37. Tax and interest payable [Sch.G-16]

38. Refund due, if any [Sch.G-17]PART-C

Computation of fringe benefits and tax thereon (if applicable)

1. Value of fringe benefits for first quarter

2. Value of fringe benefits for second quarter

3. Value of fringe benefits for third quarter

4. Value of fringe benefits for fourth quarter

5. Value of total fringe benefits (Sch.-M)

000

000

000

000

000

000

000

000

000

000

000

000

000

000

000

0000

0000

0000

0000

0000

000

000

000

000

000

000

000

000

000


6. Fringe benefit tax payable [30% of (5)]

7. Surcharge on (6)

8. Education cess, including secondary and higher education cess on [(6) + (7)]0

9. Total fringe benefit tax payable [(6) + (7) + (8)]

10. Advance fringe benefit tax paid (Sch.-N)

11. Balance tax payable [(9) – (10)]

12. Interest under section 115WJ

13. Interest under section 115WK

14. Self-assessment tax paid (Sch.-O)

15. Balance tax payable/ refundable [(11) + (12) + (13) - (14)]

Number of documents / statements attachedDescription In figures In words Description In figures In words

a. TDS Certificates f. Applications for exercising options under section 11(1)

b. Audit report in Form No. 10B

g. Form 10DB / 10DC

c. Audit report in Form No. 10BB

h. Income / expenditure account and balance sheet

d. Audit Report under section 44AB

i. Others

e. Form No. 10 for exercising options under section 11(2)

VERIFICATIONI, son/ daughter of , holding permanent account number _________________ solemnly declare that to the best of my knowledge and belief, the information given in this return and the schedules, statements, etc., accompanying it is correct and complete and that the amount of total income/ fringe benefits and other particulars shown therein are truly stated and are in accordance with the provisions of the Income-tax Act, 1961, in respect of income/ fringe benefits chargeable to income-tax for the previous year relevant to the assessment year 2009-10. I further declare that I am making this return in my capacity as ___________ and I am also competent to make this return and verify it.Date: ……………… ……………………………Place: ………………….. Name and Signature

SCHEDULE A. Income from house propertyIn case of more than one house property, compute the income from each property on a separate sheet (to be attached

to the return) and mention the aggregate figure against item No. 16

1. Number of sheets (in case of more than one property) Sheet No.

2. Address of the property(Flat No./Door/House No., Premises, Road, Locality/ Village, Town/ District, State/ Union territory in that order)

Pin

3. State whether the above-mentioned property is

0000

0000

0000

0000

0000

0000

0000

0000

0000

0000

000 000


Self-occupied or Let out or Unoccupied (Please tick as applicable)

4. Built-up area (In square metre) Area of land appurtenant (in square metre) Annual lettable value

5. Annual lettable value / Actual rent received or receivable (whichever is higher)

6. Less: Deduction claimed under section 23

(a) Taxes actually paid to local authority

(b) Unrealised rent

(c) …………………

7. Total of 6 above

8. Balance {(5) – (7)]

9. Less: Deductions claimed under section 24

(a) 30% of Annual value

(b) Interest on capital borrowed

10. Total of 9 above

11. Balance [(8) – (10)]

12. Unrealised rent received in the year under section 25A and / or 25AA

13. (a) Amount of arrears of rent received in the year under section 25B

(b) Less: Deduction admissible under section 25B (30% of arrear rent received)

14. Income chargeable under section 25B [13(a) – 13(b)]

15. Balance [(11)+(12)+(14)]

16. Total of 15 (in case of more than one property, give total of all sheets)

17. Income chargeable under the head “Income from house property” (16)

SCHEDULE B: Profits and gains of business or profession(I) General

1. Nature of business or profession: Manufacturing Trading

Manufacturing-cum-trading Service Profession Others

2. Number of branches Attach list with full address(es)

…………………………………………………………………………………………………………………………………..

…………………………………………………………………………………………………………………………………..

3. Method of accounting Mercantile Cash

4. Is there any change in method of accounting? Yes No

5. If yes, state the change

…………………………………………………………………………………………………………………………………..

…………………………………………………………………………………………………………………………………..

6. Method of valuation of stock…………………………………………………………………………………………………

7. Is there any change in stock valuation method? Yes No

000

000

000

000

000

000

000

000

000

0000

000

000

000

000

000

000 000000

000

000

000

000

000 000 000


8. If yes, state the change: ………………………………………………………………………………………………………

9. Are you liable to maintain accounts as per section 44AA? Yes No

10. Are you liable to tax audit under section 44AB(a)/ (b)? Yes No

11. Are you liable to tax audit under section 44AB(c) read with section 44AD/ 44AE/ 44AF?

Yes No

12. If answer to ‘Item 10 or 11’ is yes, have you got the accounts audited before the specified date?

Yes No

13. If yes, whether audit report is furnished? Yes No

If yes, give Receipt No……………… and date of filing the same (also attach a copy)

(II) Computation of income from business or profession other than speculation business(In case you have more than one business or profession and maintain separate books of account, attach separate

sheet(s) giving computation for each such business or profession and show the aggregate figures against various items)

14. Net profit or loss as per consolidated profit and loss account

15. Add: Adjustment on account of change in method of accounting and / or valuation of stock

For assessees having income covered under section 44AD / 44AE / 44AF:-

16. (i) Add / Deduct – profit / loss of business(es) included in item 14 under section indicated below, if answer to any of item 9, 11, 12 or 13 above is ‘No.

(a) for section 44AD(b) for section 44AE(c) for section 44AF

Total

(ii) In case you were engaged in the business of civil construction or supply of labour for civil construction mentioned in section 44AD:

(a) Gross receipts

(b) Net profit @ 8% of gross receipt

(c) Add: Higher of the amounts mentioned in (i)(a) and (ii)(b) above

(iii) In case you owned not more than ten goods carriages and were engaged in the business of plying, hiring or leasing of such carriages as mentioned in section 44AE:

Number of Vehicles / carriages

Number of months during which owned

Deemed profit under section 44AE

(a) heavy goods vehicle(b) other goods carriages

Total

(c) Add: Higher of the amount mentioned in (i)(b) above and the amount determined above as deemed profit under section 44AE

(iv) In case you were engaged in the business of retail trade in any goods or merchandise, the total turnover on account of which did not exceed forty lakh rupees, as mentioned in section 44AF:

000

000

000

000

000

000

000

000

000

000

- -


(a) Total turnover on account of such business

(b) Deemed profit at rate of 5% of turnover

(c) Add: Higher of the amounts mentioned in 16(i)(c) and 16(iv)(b)

17. Deduct – Amount of exempt income included in item 14, being:

(i) Share of income from firm(s) exempt under section 10(2A)

(ii) Share of income from AOP / BOI

(iii) Any other income exempt from tax (specify the section)

18. Is section 10A / 10B/ 10C applicable? Yes No

If yes, have you opted out by filing declaration prescribed under section 10A(8) / 10B(8) / 10C(6)

Yes No

If no, furnish the following information

Section Year Amount claimed deductible / not includible in total income

Deduct: Amount as per item 18 above

19. Add: Incomes specified in section 28(ii) to 28(vi) not included in item 14

20. Add: Deemed income not included in item 14 under sections 33AB, 33ABA, 35ABB, etc.

(i) Section…………………… Amount………………………(ii) Section…………………… Amount………………………(iii) Section…………………… Amount………………………(iv) Section…………………… Amount………………………

Total

21. Deduct: Allowance under section 35A, 35AB, 35ABB, etc.

Section Year No. Installment Amount debited in accounts Amount allowable

Total

22. Add: Adjustment on account of profit includible under section 44B, 44BB and 44BBA

23. Add / deduct: Adjustments in accordance with sections 28 to 44DA, if any, necessary

Under section Amount……………………………….. …………………………………..……………………………….. …………………………………..……………………………….. …………………………………..

Total

24. Add / deduct: Adjustment on account of current depreciation debited in books of account, and allowable as per the Act

25. Add / deduct: Adjustment on account of scientific research expenses under section

000

000

000

000

000

000

000

000

000

000

000

000

000

000


35(1)(iv)

26. (i) Profits and gains of business or profession other than speculation business

(ii) Profits and gains from the transactions chargeable to securities transaction tax included in (i) above

(III) Computation of income from speculation business

27. Speculation profit / loss

28. Add / deduct: Net statutory adjustments

29. Profits and gains from speculation business

30. Deduct: Brought forward speculation loss, if any

31. Net profits and gains from speculation business

32. Income chargeable under the head profits and gains [26(i) + 31]

[Negative figure in item 31 not to be considered]

(IV) Computation of income chargeable to tax under section 11(4)

33. Income as shown in the accounts of business undertaking [refer section 11(4)]

34. Income chargeable to tax under section 11(4)(32) – (33)

SCHEDULE C: Capital GainsSeparate sheets may be used and attached to the return in case of more than one short-term / long-term asset. The

aggregate figure may be shown against item No.12

A. Short-term Asset B. Long-term Asset

1. Number of sheets (in case of more than one asset only)

2. Particulars of asset transferred

3. Date of acquisition (DD-MM-YYYY)

4. Date of Transfer (DD-MM-YYYY)

5. Mode of transfer

6. Full value consideration accrued or received

7. Deductions under section 48

(i) cost of acquisition

(ii) cost of improvement

(iii) expenditure on transfer

8. Total of 7 above

9. Balance [(6) – (8)]

10. Exemption under section 11(1A)

11. Balance [(9) – (10)] [Please specify short-term under section 111A / others]

12. Total of 11 (in case of more than one short / long term asset, give

000

000

000

000

000

000

000

599

000

000

000 000

000000

0000000

0000000

000000

000000

000000

000000

0000000

000000

000000

000000

000000

000000

- -

- -


total of all sheets)

13. Deemed short-term capital gain on depreciable assets (section 50)

14. Income chargeable under the head “Capital gains”

A. Short term [(12)+(13)] B. Long term (12)

C. Short-term under section 111A included in 14A

D. Short-term (others) (14A – 14C)

SCHEDULE D. Income from other sources

1. Income other than from owning race horse(s):-

(a) Dividends (b) Interest(c) Rental income from machinery, plants, buildings, etc.

(d) Voluntary contributions / donations including donations for the corpus

(e) Others

2. Total of 1 above

3. Deductions under section 57:-

(a) Depreciation………………………………..(b) ……………………………………………….(c) ……………………………………………….

4. Total of 3 above

5. Balance [(2) – (4)]

6. (a) Income from owning and maintaining race horses

(b) Deductions under section 57

7. Balance income from owning and maintaining race horse(s) [6(a) – 6 (b)]

8. Winnings from lotteries, crossword puzzles, races, etc. [see section 115BB]

9. Income chargeable under the head “Income fromother sources” [(5) + (7) + (8)]

[Negative figure, if any, in item 7 shall not be considered here]

SCHEDULE E: Statement of set off of current year’s losses under section 71Fill in this schedule only if there is loss from any of the following sources for set-off against income from any other

source; else, write N.A.

1. Amount of loss arising from house property [see item A-17]

2. Amount of loss from business (excluding speculation loss) [see item B-26]

3. Amount of loss from other sources (excluding loss from race horses) [see item D-5]

000

000

000

000

000

000

000

000

000

000

000

0000

0000

0000

000000

000000

000

000

000


Income of previous year

House property loss of the previous year

set off‡

Business loss (other than

speculation loss) of the previous year set off‡

Other sources loss (other than loss from owning race horses) of the previous year

set off‡


after set off

Head/ Source of income

(i) (ii) (iii) (iv) (v)

S.No.

Loss to be adjusted1. House Property2. Business (including

speculation profit)

3. Short-term capital gain4. Long-term capital gain5. Other sources (including

profit from owning race horses)

Under column (i), write only the positive incomes from the heads/ sources of income mentioned in rows (1) to (5)

‡Under columns (ii), (iii) and (iv) write the appropriate amount of loss against the head / source of income with which it is set-off.

SCHEDULE F. Statement of Total Income

1. A. Income from house property [Sch. A-17 or E.1.(v)]

B. As per books of account – Profits and gains of business or profession [Sch. B-33 or E.2.(v)]

C. Capital gains

(i) Short-term under section 111A [Sch. C.14C]

(ii) Short-term (others) [Sch. C.14D]

(iii) Long-term [Sch. C.14B]

D. Income from other sources [Sch. D.9 or E.5.(v)]

2. Total [(A) to (D)], i.e., Gross income

3. Deduct:

(i) Amount applied to charitable or religious purposes in India during the previous year

(ii) Amount deemed to have been applied to charitable or religious purposes in India during the previous year – clause (2) of the Explanation to section 11(1)

(iii) Amount accumulated or set apart / finally set apart for application to charitable or religious purposes to the extent it does not exceed 15 per cent of income derived from property held in trust wholly or in part only for such purposes under 11(1)(a)

(iv) Amount eligible for exemption under section 11(1)(c)

(v) Amount eligible for exemption under section 11(1)(d)

(vi) Amount in addition to the amount referred to in (iii) above accumulated or set apart for specified purposes if all the conditions in section 11(2) are fulfilled

(vii) Income claimed exempt under section 10(…), specify clause / sub-clause

000

000

000

000

000

000

000

0000

000

000

000

000

000

0000


(……………………………………………………..)

(……………………………………………………..)

(viii) Income claimed/ exempt under section 13A in case of a political party (also fill schedule LA)

(ix) Total [(i) to (viii)]

4. Add:

(i) Income chargeable under section 11(1B)

(ii) Income chargeable under section 11(3)

(iii) Income in respect of which exemption under section 11 is not available by reason of provisions of section 13

(iv) Income chargeable under section 12(2)

(v) Total [(i)+(ii)+(iii)+(iv)]

5. Add: Income from profits and gains of business or profession chargeable to tax under section 11(4) [Sch.B.34]

6. Gross total income [(2)–(3)+(4)+(5)]

7. Deduction under Chapter VIA

8. Total income [(6) -(7)]

9. Net Agricultural income for rate purpose

10. Income included in items 8 above chargeable at special rates / maximum marginal rates

Nature of income Section under which chargeable

Amount of income Rate of Tax Amount of Tax

11. Total income chargeable at normal Rates

12. Total income chargeable at special Rates0

13. Anonymous donations to be taxed under section 115BBC @ 30%

14. Total income chargeable at maximum marginal rates

SCHEDULE G. Statement of taxes on total income

1. Tax on total income

(a) At special rates

(b) At normal rates

(c) At maximum marginal rate

(d) Under section 115BBC

2. Tax on total income [1(a)+1(b)+1(c)+1(d)]

3. Tax payable under section 115JB [Sch.J-6]

4. Higher of 2 and 3

5. Credit under section 115JAA of tax paid in earlier years [Sch.JA-4]

000

000

000

000

000

000

000

000

000

000

000

000

000

000

000

000

000

000

000

000

000

000

000

000

000


6. Tax payable after credit under section 115JAA [(4)-(5)]

7. Surcharge [on (6) above]

8. Tax + Surcharge [(6)+(7)]

9. Education, including secondary and higher education cess [on (8) above]

10. Tax + surcharge + Education cess [(8) + (9)]

11. Add interest for:

(a) Late filing of return under section 234A

(b) Default in payment of advance tax under section 234B

(c) Deferment of advance tax under section 234C

12. Total of items 11 above

13. Total tax and interest payable [(10) + (12)]

14. Prepaid taxes

A. Advance tax

Name of the Bank Branch

BSR Code of Bank Branch (7 Digit)

Date of deposit(DDMMYY)

Serial No. of challan

Amount (Rs.)

Date of installment

Upto 15/9 16/9 to 15/12 16/12 to 15/03 16/03 to 31/03 Total

Amount

B. Tax deducted / collected at source: [Attach certificate(s)]:

(a) …………………………………………….

(b) …………………………………………….

(c) …………………………………………….

Total of [(a) to (c)]

C. Tax on self-assessment





Amount (Rs.)

Total self-assessment tax paid

D. Other prepaid taxes, if any (Please specify and attach proof)

15. Total [14(A) + 14(B) + 14(C) + 14(D)]

16. Tax and interest payable [(13) – (15)]

17. Refund due, if any [(15) – (13)]

000

000

000

000

000

000

000

000

000

000

000

000

000

000

000

000 000000000 000

000


SCHEDULE H. General Information

1. In case of change in address, please furnish new address (tick):

A. Residence or B. Office

Flat / Door / Block No.

Name of Premises / Building / Village

Road / Street / Lane / Post Office

Area / Locality / Taluka / Sub-Division

Town / City / District

State / Union territory

Pin

2. Particulars of Bank Account (Mandatory in Refund cases)

Name of the Bank

MICR Code (9 digit) Address of Bank Branch

Type of Account (Savings/ Current)

Account Number ECS (Y/N)

3. Income claimed exempt:

Nature of income Amount (in Rs) Reasons for claim

4. If claiming exemption under sub-clause (iiiad) or (iiiae) or (vi) or (via) ofclause (23C) of section 10, state the amount of aggregate annual receipts

5. State the nature of charitable or religious or educational or philanthropic objects/ activities

6. Are you assessed to wealth-tax? Yes No(If yes, the wealth tax return should be filed along with this return)

SCHEDULE I. Details of amounts accumulated / set apart within the meaning of section 11(2) in the last eleven years, viz., previous years relevant to the current assessment year and the ten preceding assessment years

Year of accumulation

Amount accumulated

Whether invested in accordance

with the provisions of section 11(5)

Purpose of accumulation

Amounts applied during the year

Balance amount available for application

Amount deemed to be income within meaning of sub-

section (3) of section 11


SCHEDULE J. Book Profits under section 115JB

1. Net profit as shown in the profit and loss account for the relevant previous year –section 115JB(2)

2. Adjustments (if any) – vide the first and second proviso to section 115JB(2)

3. Adjustments – vide Explanation to section 115JB(2)

Nature of item Add Deduct

4. Total adjustments [(2) + (3)]

5. Balance book profit [(1) + (4)]

6. 10% of the book profitSCHEDULE – JA: Tax credit under section 115JAA

Sl.No. Item Assessment Year 2008-09 Assessment Year 2009-10(i) (ii) (iii) (iv)1. Tax under section 115JB

2. Tax under other provisions of the Act

3. Excess tax under 115JB[1(iii) – 2(iii)] if 1(iii) is more than 2(iii) + brought forward

MAT credit for A.Y. 2006-07 and 2007-08 = 3(v)][1(iv) – 2(iv)] if 1(iv) is more than 2(iv)

4. Excess tax under other provisions of the Act[2(iv) – 1(iv) if 2(iv) is more than 1(iv)

5. Tax credit under section 115JAA.[Lower of 3(v) and 4(iv)]

SCHEDULE K. Statement showing the investment of all funds of the Trust or Institution as on the last day of the previous year

Part A – Details of investment/ deposits made under section 11(5) (may be given in a separate sheet if space is not sufficient)________________________________________________________________________________________________

________________________________________________________________________________________________

________________________________________________________________________________________________

________________________________________________________________________________________________

Part B –Investments held at any time during the previous year(s) [in concern in which persons referred to in section 13(3) have a substantial interest]

Sl. No.

Name and address of the concern

Where the concern is a company, No. and class of shares

Nominal value of the investment

Income from the investment

Whether the amount in col. 4 exceeds 5 per cent of the capital of the concern during the previous year – say Yes / No

1 2 3 4 5 6

000

000

000

000

000

000

00000000

0000

0000 0000

0000

0000

0000


TotalPart C – Other investments as on the last day of the previous year(s)

Sl.No. Name and address of the concern Where the concern is a company, class of shares held

No. and nominal value of investment

1 2 3 4

SCHEDULE L. Statement of particulars regarding the Author(s) / Founder(s) / Trustee(s) / Manager(s), etc., of the Trust or Institution

1. Name(s) of author(s) / founder(s) / and address(es), if alive

2. Date on which the trust was created or institution established or company incorporated

3. Name(s) of the person(s) who was / were trustee(s) / manager(s) during the previous year(s)

4. Name(s) of the person(s) who has / have made substantial contribution to the trust / institution in terms of section 13(3)(b)

5. Name(s) of relative(s) of author(s), founder(s), trustee(s), manager(s), and substantial contributor(s) and where any such author, founder, trustee, manager or substantial contributor is a Hindu undivided family, also the names of the members of the family and their relatives

SCHEDULE LA (In case of a Political Party)

1. Whether books of account were maintained? Yes No

2. Whether record of each voluntary contribution in excess of twenty thousand rupees (including name and address of the person who has made such contribution) were maintained

Yes No

3. Whether the accounts have been audited, Yes No- -


if yes date of audit

4. Whether the report under sub-section (3) of section 29C of the Representation of the People Act, 1951 for the financial year has been submitted

Yes No

SCHEDULE M. Value of fringe benefits (if applicable)

Nature of expenditure Amount/ Value of expenditure Percentage Value of fringe benefit(i) (ii) (iii) (iv) = (ii) x (iii) ÷ 100

1. Any specified security or sweat equity shares [Sections 115WB(1)(d)] [Difference between the fair market value on the vesting date and amount recovered from or paid by the employee] and free or concessional tickets provided for private journeys of employees or their family members (The value in column (ii) shall be the cost of the ticket to the general public as reduced by the amount, if any, paid by or recovered from the employee).

100

2. Contribution to an approved superannuation fund for employees (in excess of one lakh rupees in respect of each employee).

100

3. Entertainment 20

4(a). Hospitality in the business other than the business referred to in 4(b), 4(c) or 4(d).

20

4(b). Hospitality in the business of hotel. 5

4(c). Hospitality in the business of carriage of passengers or goods by aircraft.

5

4(d). Hospitality in the business of carriage of passengers or goods by ship.

5

5. Conference (other than fee for participation by the employees in any conference)

20

6. Sale promotion including publicity (excluding any expenditure on advertisement referred to in proviso to section 115WB (2) (D).

20

7. Employees welfare 20

8(a). Conveyance. In the business other than the business referred to in 8(b), 8(c) and 8(d).

20

8(b). Conveyance in business of construction. 5

8(c). Conveyance in the business of manufacture or production of pharmaceuticals.

5

8(d). Conveyance in the business of 5

0000

0000

0000

0000

0000

0000

0000

0000

0000

0000

0000

0000

0000

0000


manufacture or production computer software.

9(a). Use of hotel, boarding and lodging facilities in the business other than the business referred to in 9(b), 9(c), 9(d) or 9(e).

20

9(b). Use of hotel, boarding and lodging facilities in the business of manufacture or production of pharmaceuticals.

5

9(c). Use of hotel, boarding and lodging facilities in the business of manufacture or production of computer software.

5

9(d). Use of hotel, boarding and lodging facilities in the business of carriage of passengers or goods by aircraft.

5

9(e). Use of hotel, boarding and lodging facilities in the business of carriage of passengers or goods by ship.

5

10(a). Repair, running (including fuel), maintenance of motor cars and the amount of depreciation thereon in the business other than the business of carriage of passengers or goods by motor car.

20

10(b). Repair, running (including fuel), maintenance of motor cars and the amount of depreciation thereon in the business of carriage of passengers or goods by motor car.

5

11. Repair, running (including fuel) and maintenance of aircrafts and the amount of depreciation thereon in the business other than business of carriage of passengers or goods by aircraft.

20

12. Use of telephone (including mobile phone) other than expenditure on leased telephone thereon.

20

13. Maintenance of any accommodation in the nature of guest house other than accommodation used for training purposes.

0

14. Festival celebrations. 20

15. Use of health club and similar facilities. 50

16. Use of any other club facilities 50

17. Gifts 50

18. Scholarships. 50

0000

0000

0000

0000

0000

0000

0000

0000

0000

0000

0000

0000

0000

0000

0000


19. Tour and travel (including foreign travel). 5

20. Value of fringe benefits [Total of Column (iv)]

21. (a) Are you having employees based both in and outside India? (If Yes write 1, and if No write 2) (b) If yes, are you maintaining separate books of account for

Indian and Foreign operations?(If Yes write 1, and if No write 2)

22. If no employee is based outside India, value of fringe benefits [(20)]

23. (a) if some employees are based outside India and separate books of account are maintained for Indian and foreign operation. [Figures in (1) to (19) be filled on the basis of such books of account], value of fringe benefits [(20)]

(b) If some employees are based outside India and separate books of account are not maintained for Indian and foreign operation. [Figures in (1) to (19) be filled on the basis of such books], -

(i) Number of employees based in India

(ii) Total number of employees both in and outside India

(iii) Value of taxable fringe benefits [column 20 x column 23(c)(i) ÷ column 20(c)(ii)

SCHEDULE N. Advance Fringe Benefit Tax (if applicable)





Amount (Rs.)

Date of installment On or before September 15 On or before December 15 On or before March 15

Amount

Total Advance Fringe Benefit Tax paid

Schedule O. Fringe Benefit Tax paid on self-assessment (If applicable)





Amount (Rs.)

Total Fringe Benefit Tax paid on self-assessment

0000

0000

0000

0000

0000

0000

0000

0000

0000

0000

0000

000000000000


Instructions for filling out FORM No. ITR-7(to be detached before filing the return)

1. Legal status of instructionsThese instructions though stated to be non-statutory, may be taken as guidelines for filling the particulars in this Form. In case of any doubt, please refer to relevant provisions of the Income-tax Act, 1961 and the Income-tax Rules, 1962.

2. Assessment Year for which this Form is applicableThis Form is applicable for assessment year 2009-2010 only.

3. Who can use this Form This Form can be used by persons including companies who are required to furnish return under section 139(4A) or under section 139(4B) or under section 139(4C) or under section 139(4D).

4. Manner of filing this FormThis Form has to be filed in a paper form

5. Filling out the acknowledgementAcknowledgement slip attached with this Form should be duly filled out.

6. Form not to be filled in duplicate This form is not required to be filed in duplicate.7. Intimation of processing under section 143(1)/115WE(1)

The acknowledgement of the return is deemed to be the intimation of processing under section 143(1)/115WE(1). No separate intimation will be sent to the taxpayer unless there is a demand or refund.

8. BRIEF SCHEME OF THE LAW

(1) Computation of total income

(a) “Previous year” is the financial year (1st April to the following 31st March) during which the income in question has been earned. “Assessment Year” is the financial year immediately following the previous year.

(b) Tax is chargeable on what is called ‘total income’; it has a definite technical meaning.(c) Total income is to be computed as follows, in the following order:

(i) Classify all items of income under the following heads of income: (A) “Income from house property”; (B) “Profits and gains of business or profession”; (C) “Capital gains”; and (D) “Income from other sources”. (There may be no income under one or more of these heads of income).

(ii) Compute taxable income of the current year (i.e., the previous year) under each head of income separately in the Schedules which have been structured so as to help you in making these computations. The headwise computation in the Schedules has been devised on the basis of actual income earned in the commercial sense as against computation as per statutory provisions applicable in case of other categories of taxpayers.


(iv) Aggregate the headwise end-results as available after (iii) above; this will give you “gross income”.(v) Deduct from the gross income, amounts exempt under sections 10 and 11, to arrive at gross total income. (vi) From gross total income, subtract, as per procedures prescribed by the law, “deductions” mentioned in Chapter VIA

of the Income-tax Act. The result will be the total income. Besides, calculate agricultural income for rate purposes.

(2) Computation of income-tax, surcharge, education cess and interest in respect of income chargeable to tax

(a) Compute income-tax payable on the total income after allowing rebate, if applicable. Special rates of tax are applicable to some specified items. Include agricultural income, as prescribed, for rate purposes, in the tax computation procedure.

(b) Add surcharge as prescribed by the law on the above tax payable (after rebate).(c) Add Education Cess including secondary and higher education cess as prescribed on tax payable (after rebate) plus

surcharge.(d) Add interest payable as prescribed by the law to reach total tax, surcharge and interest payable.(e) Deduct the amount of prepaid taxes, if any, like “tax deducted at source”, “tax collected at source”, “advance-tax” and “self-

assessment-tax”. The result will be the tax payable (or refundable).


(3) Computation of fringe benefits and income-tax, surcharge, education cess including secondary and higher education cess and interest in respect of fringe benefits chargeable to tax

(a) Chapter XII-H (sections 115W to 115WL) of the Act relates to income-tax on fringe benefits paid or deemed to have been paid by an employer to his employees. Thus, an employer has to furnish the return of fringe benefits for the assessment year 2009-10.

(b) Proviso to clause (a) of section 115W provides that following persons shall not be deemed to be an employer for the purposes of above- mentioned Chapter-

(i) any person eligible for exemption under clause (23C) of section 10; or (ii) any person registered under section 12AA; or (iii) a political party registered under section 29A of the Representation of the People Act, 1951; Thus, above-mentioned persons not being liable to fringe benefit tax are not required to fill the details relating to fringe

benefit tax in this Form.(c) Section 115WB provides the list of fringe benefits provided or deemed to have been provided by an employer to his

employees which are chargeable to tax. Section 115WC provides as to how to compute the value of the fringe benefits provided or deemed to have been provided.

(d) Additional income-tax (fringe benefit tax) is required to be paid by every specified employer at the rate of thirty per cent on the value of such fringe benefits. Surcharge and Education Cess including secondary and higher education cess at specified rates are also to be paid on fringe benefit tax(FBT). FBT is payable by an employer even if no income-tax is payable by him on his total income

(e) A company eligible for exemption under clause 10(23C) or registered under section 12AA) is not liable to pay FBT. (f) The Central Board of Direct Taxes has issued an exhaustive circular No. 8 / 2005 dated 29.8.2005 explaining the provisions

relating to fringe benefit tax. In case of any doubt, the assessees may refer to the said circular. (g) The explanatory circular (No. 9 dated 20.12.2007) on Fringe Benefit Tax arising on allotment or transfer of specified securities or sweat equity

shares may also be referred to, if applicable, while working out the value of fringe benefits

(4) Filing of return

(a) A return of income can be filed in any of the following manners: (i) U/s (under section) 139(1): i.e., within the “due date” prescribed by the law; or(ii) U/s 139(3) r/w (read with) s 139(1) only where a loss is to be carried forward: i.e., within the “due date”

prescribed by the law;(iii) U/s 139(4); i.e., after the expiry of the “due date” but before the expiry of one year from the end of the relevant

assessment year;(iv) U/s 142(1): i.e, pursuant to a statutory notice calling for the return;(v) U/s 148: i.e., pursuant to a statutory notice u/s 149 for assessing or reassessing total income that has been

either not assessed or under-assessed earlier;(vi) U/s 153A/153C: pursuant to a notice u/s 153A(a);(vii) A return filed u/s139(1) or 139(3) or 142(1) can be revised by filing a fresh return within one year from the end

of the relevant assessment year or before the completion of assessment, whichever is earlier;(viii) Incomplete or erroneous returns are liable to be held defective [s 139(9 )] or even invalid. If held defective,

time (usually 15 days, extendable in some circumstances) will be allowed to rectify the defect(s).

(b) Similarly, a return of fringe benefit can be filed in any of the following manners:(i) U/s (under section) 115WD(1): i.e., within the “due date” prescribed by the law; or(ii) U/s 115WD(3): i.e., after the expiry of the “due date” but before the expiry of one year from the end of the

relevant assessment year;(iii) Under section 115WD(2): i.e, pursuant to a statutory notice calling for the return;(iv) U/s 115WG: i.e., pursuant to a statutory notice u/s 115WH for assessing or reassessing fringe benefits that

have been either not assessed or under-assessed earlier;(v) A return filed u/s 115WD(1)or 115WD(2) can be revised by filing a fresh return within one year from the end of

the relevant assessment year or before the completion of assessment, whichever is earlier;

(c) Incomplete or erroneous returns are liable to be held defective [s 139(9)] or even invalid. If held defective, time (usually 15 days, extendable in some circumstances) will be allowed to rectify the defect(s).


(5) Obligation to file return of income

(a) Return under section 139(4A) is required to be filed by every person in receipt of income derived from property held under trust or other legal obligation wholly for charitable or religious purposes or in part only for such purposes, or of income being voluntary contributions referred to in sub-section (iia) of clause (24) of section 2, shall, if the total income in respect of which he is assessable as a representative assessee (the total income for this purpose being computed under this Act without giving effect to the provisions of sections 11 and 12) exceeds the maximum amount which is not chargeable to income-tax.

(b) Return under section 139(4B) is required to be filed by a political party if the total income without giving effect to the provisions of section 139A exceeds the maximum amount which is not chargeable to income-tax.

(c) Return under section 139(4C) is required to be filed by every –(i) scientific research association referred to in section 10(21);(ii) news agency referred to in section 10(22B);(iii) association or institution referred to in section 10(23A);(iv) institution referred to in section 10(23B);(v) fund or institution or university or other educational institution or any hospital or other medical institution referred

to in section 10(23C)(iv)/ (v)/ (vi) If the conditions mentioned in section 139(4C) are satisfied.

(d) Return under section 139(4D) is required to be filed by every university, college or other institution referred to in clause (ii) and clause (iii) of sub-section (1) of section 35, which is not required to furnish return of income or loss under any other provision of this section.

(e) Return of income is also required to be filed by a person if his total income before allowing deductions under section 10A or section 10B or section 10BA or Chapter VI-A exceeds the maximum amount which is not chargeable to income tax.

(f) The losses, shall not be allowed to be carried forward unless the return has been filed on or before the due date.(g) The deduction under sections 10A, 10B, 80-IA, 80-IAB, 80-IB and 80-IC shall not be allowed unless the return has been

filed on or before the due date.

9. SCHEME OF THE FORM

The Scheme of this form follows the scheme of the law as outlined above in its basic form. The Form has been divided into three parts. It also has seventeen schedules. The details of these parts and the schedules are as under:-

(i) The first part, i.e., Part-A is spread over the first page of the return. It seeks general information requiring identificatory data.

(ii) The second part, i.e, Part-B on page 2 is regarding an outline of the total income and tax computation in respect of income chargeable to tax.

(iii) The third part, i.e, Part-C on pages 3&4 is regarding an outline of the value of fringe benefits and tax computation in respect of fringe benefits chargeable to tax.

(iv) After Part-C, on page 4, there is a Table requiring to fill out the number of documents/ statements attached with this Form. After this table, there is a space for a statutory verification

(v) Schedule-A: Computation of income under the head Income from House Property.(vi) Schedule-B: Computation of income under the head Profits and gains of business or profession.(vii) Schedule-C: Computation of income under the head Capital gains.(viii) Schedule-D: Computation of income under the head Income from other sources.(ix) Schedule-E: Statement of set-off of current year’s losses under section 71.(x) Schedule-F: Statement of total income.(xi) Schedule-G: Statement of taxes on total income. (xii) Schedule-H: General Information and details of exempt income.(xiii) Schedule-I: Details of amounts accumulated/ set apart within the meaning of section 11(2) in the last eleven

years, viz., previous years relevant to the current assessment year and the ten preceding assessment years.(xiv) Schedule-J: Book profits under section 115JB.(xv) Schedule-JA: Tax credit under section 115JAA;(xvi) Schedule-K: Statement showing the investment of all funds of the Trust or Institution as on the last day of the

previous year.


(xvii) Schedule-L: Statement of particulars regarding the Author(s)/ Founder(s)/ Trustee(s)/ Manager(s), etc., of the Trust or Institution.

(xviii) Schedule-LA: Details in case of a political party(xix) Schedule-M: Computation of value of fringe benefits.(xx) Schedule-N: Statement of advance fringe benefit tax paid(xxi) Schedule-O: Statement of Fringe Benefit Tax paid on self-assessment



(ii) If any schedule is not applicable score across as “---NA---“. (iii) If any item is inapplicable, write “NA” against that item. (iv) Write “Nil” to denote nil figures. (v) Except as provided in the form, for a negative figure/ figure of loss, write “-” before such figure.

(vi) All figures should be rounded off to the nearest one rupee. However, the figures for total income/ loss and tax payable be finally rounded off to the nearest multiple of ten rupees.

(2)Sequence for filling out parts and schedules You are advised to follow the following sequence in filling in the sheets;

(i) Part A;(ii) Schedule-A to Schedule-D;(iii) Schedule-E: relating to set-off of losses, etc.;(iv) Schedule-F: Statement of total income;(v) Schedule-G: Statement of taxes on total income;(vi) Schedule-H: General Information;(vii) Schedule-I: Details of amounts accumulated/ set apart within the meaning of section 11(2) in the last 11 years;(viii) Schedule-J: Book profit under section 115JB;(ix) Schedule-JA: Tax credit under section 115JAA;(x) Schedule-K: Statement showing the investment of all funds of the Trust or Institution as on the last day of the

previous year.(xi) Schedule-L: Statement of particulars regarding the Author(s)/ Founder(s)/ Trustee(s)/ Manager(s), etc., of the Trust

or Institution;(xii) Schedule-LA: Details in case of a political party(xiii) Part B: Computation of total income and tax thereon;(xiv) Schedule-M: Computation of value of fringe benefits;(xv) Schedule-N: Statement of advance fringe benefits tax paid;(xvi) Schedule-O: Statement of fringe benefits paid on self-assessment;(xvii) Part C: Computation of fringe benefits and tax thereon;(xviii) Verification;

(3) Necessary instructions to fill the Parts and Schedules are as under-(A) Part-A: All items are self explanatory

(a) It is compulsory to quote PAN.(b) Use block letters only throughout to fill in this form.(c) Codes for residence and status:

Residence in India CodeResident 01Non-resident 02Resident but not ordinarily resident 03

Status Code Status Code(a) Individual 01 (g) Association of persons (AOP) 07(b) Hindu Undivided Family(other than that mentioned below)

02 (h) Association of persons (Trust) 08


(c) Hindu Undivided Family which has at least one member with total income of the previous year exceeding the maximum amount not chargeable to tax

03 (i) Body of individuals (BOI) 09

(d) Unregistered firm 04 (j) Artificial juridical person 10(e) Registered firm/ firm (other than the one engaged in profession)

05 (k) Co-operative society 11

(f) Registered firm/ firm engaged in profession 06 (l) Local authority 16

(d) Items 15: State the section under which the return is filed and also whether the return is an original return or a revised return: See ”Brief scheme of the law” above.

(e) Item 17: This asks whether you are filing your return for the first time ever.

(B) Schedule-A: Income from house property

(i) If there are more than one house properties, the computation should be first done for each house property separately, and then aggregated. Use photocopies of the page for additional house properties.

(ii) Item 1: Mention (a) total number of sheets used (=total number of separate house properties); and (b) individual sheet number on each sheet).

(iii) Items 2 to 15: These are to be filled for each house property separately: Item 4: Built-up area: Inclusive of walls and common areas. Land appurtenant: Attached to, and forming an integral part of, the property. Annual lettable value: Amount for which the house property may reasonably be expected to let from year to year,

on a notional basis. Item 5: Indicate here the annual lettable value or the rent received / receivable for the whole year, whichever is

higher. In respect of one self-occupied house used for your own residence, or which is vacant and cannot be used due to your place of employment being different, the value to be mentioned in this item may be taken as “nil” and items 6 and 7 need not be filled in.

Item 6: The deductions admissible u/s 23 should be claimed here, such as:-(a) Municipal Taxes: an assessee can claim deduction only if the property is in the occupation of a tenant, and

such taxes are borne by the assessee and not by the tenant and have actually been paid during the year. Please attach proof of such payment.

(b) Unrealised rent in view of Explanation below section 23(i) subject to Rule 4. Item 8: This figure represents the annual value. Item 9: Indicate here the deductions claimed under section 24.

(a) 30% of the annual value (b) Interest on capital borrowed.

Item 12: Deduction is available for unrealized rent in the case of a let-out property. If such a deduction has been taken in an earlier assessment year, and such unrealized rent is actually received in the assessment year in question, the unrealized rent so received is to be shown against this item.

Item 13: This relates to enhancement of rent with retrospective effect. Here mention back years’ extra rent received thereon, and claim deduction @ 30% of such arrear rent received.

Items 16 to 17: Aggregation of individual property-wise computations as per items 2 to 15.

(C): Schedule B: Profits and gains of business or profession.

(I) General(a) Item 1: Tick one or more box(es), as applicable.(b) Item 3: Tick any one box. The law permits use of only one of the two methods.(c) Items 4 to 5: This relates to change in the method of accounting in the assessment year in question compared to

the immediately preceding assessment year.(d) Items 7 to 8: This relates to change in the method of valuing stock in the assessment year in question compared to

the immediately preceding assessment year.(e) Item 9: Sec 44AA prescribes compulsory maintenance of accounts for some businesses and professions.(f) Item 10: Sec 44AB(a) and (b) prescribe compulsory tax audit for business and profession where the sales,

turnover, or gross receipts exceed prescribed amounts.


(g) Item 11: Sec 44AB (c) prescribes compulsory tax audit where profits and gains of business or profession are shown not as per accounts maintained, but at presumptive figures prescribed u/ss 44AD, or 44AE, or 44AF.

(h) Items 12 to 13: Sec 44AB prescribes that (a) the tax audit be got done by a certain “specified date’, and (b) the tax audit report be furnished within the “due date” for filing the return of income as defined in sec 139(1).

(II) Computation of income from business or profession other than speculation business.

(a) Computation of income from business is required to be made in accordance with the statutory provisions under the head “profits and gains of business or profession”, in view of section 11(4), which provides that if the income so computed exceeds the income shown in the accounts, such excess is chargeable to tax.

(b) If accounts have been maintained separately for each business, business-wise computations may be carried out on separate sheet(s) and the consolidated figures be given in items 14 to 26.

(c) Item 14: This item relates to the consolidated P&L A/c. If separate P&L A/cs are maintained for separate businesses, all such a/cs are to be combined to form the consolidated P&L A/c.

(d) Item 15: Any change in method of accounting and/ or valuation of stock may necessitate an adjustment in the current year’s profits as reflected in the accounts, Here mention such adjustment.

(e) Item 16, (i) to (iv): Sections 44AD, 44AE and 44AF permit computation of profits of some specified businesses at presumptive figures in some prescribed circumstances. These items provide the mechanism for that: 16(i) is meant to first remove from the P&L A/c the profit(s)/loss(es) of such specified business(es), and 16(ii), (iii) and (iv) are meant to then substitute the aforesaid profit(s)/ loss(es) by the presumptive figure(s) in prescribed circumstances.

(f) Item 17: This item is meant to remove from the P&L A/c amounts of income that are exempt from chargeability. Amount deductible will be net of expenses incurred for earning the exempt income – section 14A.

(g) Item 18: Sections 10A, 10B and 10C permit the claiming of exemption from tax of incomes of some specified businesses. This item is meant to eliminate such income(s) from the computation of profits / gains.

(h) Item 19: Section 28 defines certain incomes as deemed business profits. Here include such item(s) if not already included in item 14.

(i) Item 20: Some sections such as s.33AB define certain amounts to be deemed incomes in some circumstances. Here mention such amount(s) along with the corresponding section (s).

(j) Item 21: Some sections such as s.35A provide for the allowance of some expenses in annual installments over a number of years. Here mention such amount(s) along with the corresponding section(s).

(k) Item 22: Sections 44B. 44BB and 44BBA provide for the computation of profits of some businesses at presumptive figures, which necessitate an adjustment to the profit(s)/loss(es) of such business(es) reflected in the P&L A/c. This item is meant for such adjustment.

(l) Item 23: This item is for other statutory adjustments necessary that are not specifically mentioned above or in items 24 and 25. Here mention the section(s) and the amount(s) of adjustment(s), positive or negative, and the net adjustment.

(m) Item 24: The calculation of depreciation, including the calculation of WDVs, as adopted in the a/cs may, and often does, differ from that prescribed by the income-tax law, and this may necessitate an adjustment. Here mention such adjustment.

(n) Item 25: Section 35(1)(iv) prescribes a procedure for allowing scientific research expenses, and this may necessitate an adjustment. Here mention such adjustment.

(o) Item 26: This is the end-result of the computation involved in items 14 to 25 for the current year. This result can be positive or negative. In sub item (i) mention profits and gains of business and profession other than speculation business. In sub item (ii) mention profits and gains from transactions chargeable to securities transaction tax.

(III) Computation of income from speculation business.(a) Item 28: Here mention the net result of all adjustments.(b) Item 29: This is the end-result of the computations involved in items 27 and 28. This figure can be positive or

negative. (c) Item 30: If item 26 is negative, mention that (negative) figure here, to the extent of the positive figure at item 29. (d) Item 31: This is the result of deducting item 30 from item 29. It can be positive or zero; it cannot be negative.

Current year’s speculation loss cannot be adjusted against profit from any other business or profession. Loss from business or profession (other than from speculation business) can, however, be set-off against income from speculation (remaining after adjustment of brought forward speculation loss).

(e) Item 32: Mention the total income chargeable under the head Profits and Gains.


(IV) Computation of income chargeable to tax u/s 11(4).

(a) Item 33: Here mention the income as shown in the accounts of the business undertaking. For the purposes of section 11(4), “property held under trust” includes a business undertaking.

(b) Item 34: Here mention the income chargeable to tax u/s 11(4), being the amount by which the amount in item 32 exceeds that in item 33.

(D): Schedule C: Capital gains.

(a) This schedule requires computation of capital gains on commercial principles, i.e., by deducting the cost of acquisition, cost of improvement and expenditure on transfer from the sale consideration, and then reducing the exemption u/s 11(1A), if any.

(b) If there are more than one transfer of a capital asset, the computation of capital gains be first done separately for each transfer, and then aggregated. Use photocopies of the page for additional capital gains.

(c) Item 1: Mention (a) total no. of sheets used, and (b) individual sheet no. on each sheet. (For example, if 5 sheets are used, number of sheets will be 5, and Sheet no. will be from 1 to 5.)

(d) Items 2 to 13: These are for computing capital gain for each transfer: Item 2: Here give a brief description of the asset. Item 5: Here give a brief description of the mode of transfer, such as:-

(i) sale, exchange or relinquishment of right; or (ii) extinguishment of any rights therein; or(iii) compulsory acquisition thereof under any law; or(iv) in a case where the asset is converted by the owner thereof into; or is treated by him as, stock-in-trade of

a business carried on by him, such, conversion or treatment; or (v) any transaction involving the allowing of the possession of any immovable property to be taken or

retained in part performance of a contract of the nature referred to in section 53A of the Transfer of Property Act, 1882; or

(vi) any transaction (whether by way of becoming a member of, or acquiring shares in, a cooperative society, company or other association of persons or byway of any agreement or any arrangement or in any other manner whatsoever) which has the effect of transferring, or enabling the enjoyment of, any immovable property. In case of compulsory acquisition, please mention on a separate sheet the law under which the said acquisition has been made as also the dates of notification and possession of the property by the concerned authority.

(e) Item 10: Section 11(1A) provides for exemption from tax of certain capital gains which are utilized for another capital asset to be held as property under the trust.

(f) Item 11 : Here mention short term/ long term capital gains arising from the concerned asset. Also specify whether the short term gains is u/s 111A (capital gains from transactions in securities chargeable to securities transaction tax) or otherwise.

(g) Item 14 : This represents (A) total short term capital gains from all assets, (B) total long term capital gains, (C) short term capital gains u/s 111A and (D) short term capital gains from other assets.

(E): Schedule D: Income from other sources.(a) Items 1: Income from owning and maintaining race horses is to be computed separately, in items 6 and 7. Mention

gross figures against (a), (b), (c), (d) and (e). Against (b), mention the gross amount of interest(s) received/receivable. Attach a separate sheet giving information regarding each item of interest received /receivable and attach supporting evidence. Against (c), indicate the gross income from machinery, plant or furniture let on hire and also such income from building where its letting is inseparable from the letting of the said machinery, plant or furniture, if it is not chargeable to income-tax under the head “Profits and gains of business or profession”. Against (d), indicate the gross amount of voluntary Contribution/ Donations including donation for the corpus.

(b) Item 8: Winnings from lotteries, crossword puzzles, races etc., are subject to special rates of tax; hence a separate item is provided.

(c) Item 9: This is the net result under the head “other sources”. Loss from owning and maintaining race horses cannot be adjusted against income from any other source, and can only be carried forward for set off against similar income in subsequent years.


(F): Schedule E: Statement of set-off of current year’s loss u/s 71(a) Mention only positive incomes of the current year in column (i), headwise, in the relevant rows.(b) Mention current year’s loss(es) under any head set off u/s 71 against income under any other head, headwise in

columns (ii) to (iv), in the relevant rows.(c) Mention the end-result of the above inter-head set-off(s) in column (v), headwise, in relevant rows.

(G): Schedule F: Statement of total income.(a) Item 1: A to D: Transfer figure(s) from the appropriate schedules as indicated.(b) Item 3&4: Here make adjustments as provided u/s 11.(c) Item 9: Here, mention the details of net agricultural income.

(H): Schedule G: Statement of taxes.(a) Item 1: Special rates of tax are applicable to certain types of income such as income from winnings from lottery,

crossword puzzle, gambling, betting, horserace, etc @ 40% u/s 115BB; long term capital gains @ 20% (10% where the asset is a listed security), etc.

(b) Item 7 : Add education cess including secondary and higher education cess levied a the rate of 3% on tax payable inclusive of surcharge.

(c) Item 12: In sub item A details of advance tax paid should be filled from the counterfoil. In the first table the name of the bank branch, BSR Code of the Bank Branch (7 digit), date of deposit, challan serial no., and amount of tax paid should be filled up. Copy of counterfoil is not required to be attached. In the second table the aggregate advance tax paid for each installment should be filled up. In sub item C for self assessment tax paid, the name of the bank branch, BSR Code of the Bank Branch (7 digit), date of deposit, challan serial no., and amount of tax paid should be filled up from the counterfoil. Copy of counterfoil is not required to be attached.

(d) Items 14 and 15: Mention payable amount against 14 and refundable amount against 15.

(I): Schedule H: General information.Item 2: Here, mention the particulars of Bank Account specifying the name of the bank, the 9-digit MICR Code, address of the bank branch, the type of account, along with your account number. In case you want the refund, if any, to be credited directly into your bank account, fill in ‘Y’ in the box ‘ECS (Y/N)’, or else fill in ‘N’.

(J): Schedule J: This schedule is applicable only if you are a company. As per section 115JB, the tax payable by a company cannot be less than 10% of the book profits as computed under the section.

(K): Schedule JA:Credit for MAT paid in assessment year 2008-2009 and earlier years, in excess of the normal tax liability, is allowed to be set off against the normal tax liability of assessment year 2008-2009. However, the credit is restricted to the extent the normal tax liability for assessment year 2008-2009 exceeds the MAT liability for that year.

(L): Schedule K: Here, mention the investment of all funds of the trust or institution as on the last day of the previous year. The table given is self-explanatory.

(M): Schedule L:Here, mention the particulars regarding the author(s)/ founder(s)/ trustee(s)/ manager(s) etc., of the trust or institution with their names, and date of creation of trust/ institution etc.

(N): Schedule LA:Section 13A of the Income-tax Act provides exemption to a political party in respect of income chargeable under the head “Income from house property”, “Income from other sources” or “capital gains” or Income by way of voluntary contributions received by it, subject to fulfilment of certain conditions mentioned therein. This section seeks to provide the information relating to fulfilment of those conditions.

(O): Part B:

It has been mentioned against various items of this Part as to which figures are to be filled therein. Only following points need to be clarified.


(i) In item 30, fill the amount of surcharge. In case of assessees other than a company using this Form, surcharge is leviable at the rate of 10 per cent if total income exceeds ten lakh rupees. In case of companies, the surcharge is leviable at the rate of 10 per cent irrespective of the level of income.

(ii) In item 31, compute the Education Cess including secondary and higher education cess at the rate of 3%(iii) In item 37, compute the interest for defaults in furnishing return of income, the interest for defaults in

payment of advance tax and the interest for deferment of advance tax.

(P): Schedule M:(i) If accounts have been maintained separately for each business, business-wise computation of fringe

benefits of the previous year may be carried out and the consolidated figures be given in items 1 to 18.(ii) In item 4, any expenditure on or payment for food and beverages provided by the employer to his

employees in office or factory or any payment through non-transferable paid vouchers usable only at eating joints or outlets shall not be included in column (ii).

(iii) In item 5, any expenditure on conveyance, tour and travel (including foreign travel), on hotel, boarding and lodging, in connection with any conference shall be included in column (ii).

(iv) In item 6, any expenditure on advertisement in any print or electronic media or on sponsorship of any sports event, etc, as referred to in proviso to clause (D) of sub-section (2) of section 115WB shall not be included in column (ii). Further, distribution of free samples (including concessional) and expenditure on advertisement by way of billboards and display of products will not be subject to FBT.

(v) In item 7, any expenditure incurred for fulfilling any statutory obligation or mitigating occupational hazards, as referred to in Explanation to clause (E) of sub-section (2) of section 115WB shall not be included in column (ii).

(Q): Schedules N&O:In these Schedules, fill the details of payment of advance fringe benefits tax and fringe benefits tax paid on self-assessment. The details of BSR Code of the bank branch (7 digits), date of deposit, challan serial no., and amount paid should be filled out from the acknowledgement counterfoil.

(R): Part C(i) Quarter wise break-up of fringe benefits is required to be given in items 1 to 4, so as to facilitate computation

of interest in item 12 for default in paying the instalments of advance fringe benefits tax.(ii) In item 5, fill the details of fringe benefits as computed in item 20(d) of Schedule 17. The amount in item 5

must necessarily be equal to the total of the amounts in items 1 to 4. (iii) In item 6, compute the fringe benefit tax payable on the value of fringe benefits for the previous year, i.e., on

the amount in item 5.(iv) In item 7, compute the surcharge as prescribed by the law on the fringe benefit tax as computed in item 6. In

case of association of persons or body of individuals, surcharge is leviable (at the rate of 10 per cent) only if total fringe benefits exceeds ten lakh rupees. In case of a firm or artificial juridical person the surcharge is leviable (at the rate of 10 per cent.) irrespective of the level of total fringe benefits.

(v) In item 8, compute the education cess as prescribed by the law on the fringe benefit tax and surcharge thereon. The rate of education cess including secondary and higher cess is 3 per cent.

(vi) In item 12, compute the interest under section 115WJ(3) for default in payment of advance fringe benefit tax.(vii) In item 13, compute the interest under section 115WK(1) for defaults in furnishing return of fringe benefits.

Verification

Fill up the required information in the Verification. Strike out whatever is not applicable. Please ensure that the verification has been signed before furnishing the return. Write the designation of the person signing the return. Please note that any person making a false statement in the return or the accompanying schedules shall be liable to be prosecuted under section 277 of the Income-tax Act, 1961 and on conviction be punishable under that section with rigorous imprisonment and with fine.

---------------------------------------------------


Assessment Year

FOR

M


[Return for Fringe Benefits] (Please see rule 12 of the Income-tax Rules,1962)


Part A-GEN GENERAL PAN Name

Is there any change in the company’s name? If yes, please furnish the old name

Date of formation/incorporation (DD/MM/YYYY)

Flat/Door/Block No Name Of Premises/Building/Village

/ / Road/Street/Post Office Area/Locality

Pin code

Status- Write 1 if firm, if a public company write 6, and if private company write 7 (as defined in section 3 of the Company Act), and write 8 if others

Town/City/District State


PER

SON

AL

INFO

RM

ATI

ON

Email Address

( )

If domestic Company (Tick)

Area Code AO Type Range Code AO NoDesignation of Assessing Officer

Return filed under Section (Enter Code) [See instruction number-9(i)]

Whether original or Revised return? (Tick) Original Revised If revised, then enter Receipt No and Date of filing original

return (DD/MM/YYYY) / /

Residential Status (Tick) Resident Non-Resident Resident but Not Ordinarily Resident In the case of non-resident, is there a permanent establishment (PE) in India (Tick) Yes No

Whether this return is being filed by a representative assessee? (Tick) Yes No

If yes, please furnish following information - (a) Name of the representative (b) Address of the representative

FIL

ING

ST

AT

US

( c) Permanent Account Number (PAN) of the representative Are you liable to maintain accounts as per section 44AA? (Tick) Yes No Are you liable to audit under section 44AB? (Tick) Yes No, If yes, furnish following information- (a) Name of the auditor signing the tax audit report

(b) Membership no. of the auditor

(c) Name of the auditor (proprietorship/ firm)

(d) Permanent Account Number (PAN) of the proprietorship/ firm AU

DIT

INFO

RM

AT

ION

(e) Date of audit report.

For Office Use Only



PART-B

Part B Computation of Fringe Benefits and fringe benefit tax 1 Value of fringe benefits





e Total fringe benefits (1a + 1b + 1c + 1d) ( also 24 iv of Schedule-FB) 1e 2 Fringe benefit tax payable [30% of 1e] 2 3 Surcharge on 2 3 4 Education cess including secondary and higher education cess on (2 + 3) 4 5 Total fringe benefit tax liability (2 + 3 + 4) 5 6 Interest payable

a For default in payment of advance tax (section115WJ (3))

6a

b For default in furnishing the return (section 115WK) 6b

c Total interest payable 6c

7 Aggregate liability (5 + 6c) 7

8 Taxes paid a Advance fringe benefit tax(from Schedule-FBT) 8a b On self-assessment (from Schedule-FBT) 8b

c Total Taxes Paid (8a + 8b) 8c

9 Tax Payable (Enter if 7 is greater than 8c, else enter 0). 9

CO

MPU

TA

TIO

N O

F FR

ING

E B

ENE

FIT

S A

ND

FR

ING

E B

EN

EFI

T T

AX


11 Enter your bank account number (mandatory in case of refund) 12 Do you want your refund by cheque, or deposited directly into your bank account? (tick as applicable ) 13 In case of direct deposit to your bank account give additional details

RE

FUN

D


VERIFICATION I, son/ daughter of , holding permanent account number ____________ solemnly declare that to the best of my knowledge and belief, the information given in the return and the schedules thereto is correct and complete and that the amount of fringe benefits and other particulars shown therein are truly stated and are in accordance with the provisions of the Income-tax Act, 1961, in respect of fringe benefits chargeable to income-tax for the previous year relevant to the assessment year 2009-2010. I further declare that I am making this return in my capacity as ___________ and I am also competent to make this return and verify it. Place Date Sign here

Schedule FBI Information regarding calculation of value of fringe benefits 1 Are you having employees based both in and outside India? If yes write 1, and if no write 2 2 If answer to ‘1’ is yes, are you maintaining separate books of account for Indian and foreign operations?




b Number of employees outside India 3b Frin

ge b

enef

it in

form

atio

n





Percent-age


Sl. No.



1ii

100

1iv


2ii

100

2iv

3 Entertainment 3ii 20 3iv



aiv



cii 5 civ


dii 5 div


5ii 20 5iv


6ii 20 6iv




aiv



cii 5 civ


dii 5 div

a Use of hotel, boarding and lodging facilities in the business other than the business referred to in 9b or 9c or 9d or 9e

aii 20

aiv


bii 5

biv


cii 5

civ


dii 5

div

9

e Use of hotel, boarding and lodging facilities in the business of carriage of passengers or goods by ship

eii 5 eiv

a


aii

20

aiv

10

b


bii

5

biv


11ii 20

11iv


12ii 20 12iv


13ii 0 13iv



VA

LU

E O

F FR

ING

E B

EN

EFI

TS















Amount (Rs)

i

ii

iii

iv

v TA

X P

AY

ME

NT

S

NOTE ► Enter the total of v in 8a and 8b of PART-B


Instructions for filling up FORM ITR-8

1. Legal status of instructions These instructions though stated to be non-statutory, may be taken as guidelines for filling the particulars in this Form. In case

of any doubt, please refer to relevant provisions of the Income-tax Act, 1961 and the Income-tax Rules, 1962. 2. Assessment Year for which this Form is applicable This Form is applicable for assessment year 2009-2010 only. 3. Who can use this Form

This Form is applicable in case of a person who is not required to furnish the return of income but is required to furnish the return of fringe benefits

4. Annexure-less Form No document (including report of audit) should be attached to this form. Official receiving the return has been instructed to

detach all documents enclosed with this form and return the same to the assessee 5. Manner of filing this Form





8. Intimation of processing under section 115WE(1) The acknowledgement of the return is deemed to be the intimation of processing under section 115WE(1). No separate intimation will be sent to the taxpayer unless there is a demand or refund.


(i) The code (to be filled in filing status on first page) for sections under which the return is filed are as under:-

Sl.No. How the return is filed Code i. Voluntarily before the due date 21 ii. Voluntarily after the due date 22 iii. In response to notice under section 115WD(2) 23 iv. In response to notice under section 115WG 24


(a) Chapter XII-H of the Act relates to income-tax on fringe benefits paid or deemed to have been paid by an

employer to his employees. . (b) Section 115WB provides the list of fringe benefits provided or deemed to have been provided by an

employer to his employees which are chargeable to tax. Section 115WC provides as to how to compute the value of the fringe benefits provided or deemed to have been provided.

(c) Additional income-tax(fringe benefit tax) is required to be paid by every specified employer at the rate of thirty per cent on the value of such fringe benefits. Surcharge and Education Cess at specified rates are also to be paid on fringe benefit tax(FBT). FBT is payable by an employer even if no income-tax is payable by him on his total income



(f) The explanatory circular (No. 9 dated 20.12.2007) on Fringe Benefit Tax arising on allotment or transfer of specified securities or sweat equity shares may also be referred to, if applicable, while working out the value of fringe benefits

11. SCHEME OF THE FORM The Scheme of this form follows the scheme of the law as outlined above in its basic form. The Form has been divided into two parts. It also has three schedules. The details of these parts and the schedules are as under:-

(i) Part A-GEN mainly seeks general information requiring identificatory and other data (ii) Part-B is regarding an outline of the value of fringe benefits and tax computation thereon (iii) After Part B, there is –



(b) a space for a statutory verification., (iv) There are 3 schedules details of which are as under-

(a) Schedule-FBI: Information regarding calculation of value of fringe benefits (b) Schedule-FB: Computation of value of fringe benefits (c) Schedule-FBT: Statement of payment of Fringe Benefit Tax



(ii) If any schedule is not applicable score across as “---NA---“. (iii) If any item is inapplicable, write “NA” against that item. (iv) Write “Nil” to denote nil figures. (v) For a negative figure/ figure of loss, write “-” before such figure. (vi) All figures should be rounded off to the nearest one rupee. However, the tax payable be finally rounded off to

the nearest multiple of ten rupees. (2) Sequence for filling out parts and schedules

(i) Part A (ii) Schedules (iii) Part B (iv) Verification .

13. Part A-GEN Most of the details to be filled out in Part-Gen of this form are self-explanatory. However, some of the details mentioned below are to be filled out as explained hereunder:- (a) e-mail address and phone number are optional; (b) In case of an individual, for “employer category”, Government category will include Central Government/

State Governments employees. PSU category will include public sector companies of Central Government and State Government;

(c) The code for sections under which the return is filed be filled as per code given in instruction No.9(i).

14. SCHEDULES (a) Schedule-FBI: The information in this Schedule shall enable computation of the value of fringe benefits in a

case where the assessee is having business operation outside India also. Please note that even if there were no employees or business operation outside India, the details of total number of employees based in India have to be filled in row 3a of this Schedule.

(b) Schedule-FB: (i) This Schedule has been structured so as to compute the value of fringe benefits in a Tabular form. (ii) In column i, the nature of fringe benefits as provided in section 115WB in relation to which value of

fringe benefits under section 115WC is to be computed has been provided. (iii) (a) In column ii, the amount/ value of items mentioned in column i have to be filled in.











(c) Schedule-FBT,- In this Schedule, fill the details of payment of fringe benefit tax by way of advance tax and on self-assessment. The details of BSR Code of the bank branch (7 digits), date of deposit, challan serial no., and amount paid should be filled out from the acknowledgement counterfoil

15. PART B-FB-COMPUTATION OF VALUE OF FRINGE BENEFITS AND TAX THEREON

(i) Quarter wise break-up of fringe benefits is required to be given in items 1 to 4, so as to facilitate computation of interest in item 12 for default in paying the quarterly instalments of advance fringe benefits tax.


(iii) In item 6, compute the fringe benefit tax payable on the value of fringe benefits for the previous year, i.e., on the amount in item 5.




16. VERIFICATION

(a) In case the return is to be furnished in a paper format or electronically under digital signature or in a bar coded return

format, please fill up the required information in the Verification. Strike out whatever is not applicable. Please ensure that the verification has been signed before furnishing the return. Write the designation of the person signing the return.




Assessment Year

FOR

M

ITR-V INDIAN INCOME TAX RETURN VERIFICATION FORM

[Where the data of the Return of Income/Fringe Benefits in Form ITR-1, ITR-2, ITR-3, ITR-4, ITR-5, ITR-6 & ITR-8 transmitted electronically without digital signature]

(Please see rule 12 of the Income-tax Rules,1962) (Also see attached instructions)

2 0 0 9 - 1 0

PAN Name


Road/Street/Post Office Area/Locality

Form No. which has been electronically transmitted (fill the code)

Town/City/District State

Status (fill the code)

Designation of Assessing Officer (Ward/ Circle) Original or Revised

PER

SON

AL

INFO

RM

AT

ION

AN

D T

HE

D

AT

E O

F E

LE

CT

RO

NIC

TR

AN

SMIS

SIO

N

E-filing Acknowledgement Number Date(DD/MM/YYYY) / /

1 Gross total income 1 2 Deductions under Chapter-VI-A 2 3 Total Income 3

3a Current Year loss (if any) 3a 4 Net tax payable 4 5 Interest payable 5 6 Total tax and interest payable 6 7 Taxes Paid

a Advance Tax 7a b TDS 7b c TCS 7c d Self Assessment Tax 7d

e Total Taxes Paid (7a+7b+7c +7d) 7e 8 Tax Payable (6-7e) 8

CO

MPU

TA

TIO

N O

F IN

CO

ME

A

ND

TA

X T

HE

RE

ON

9 Refund (7e-6) 9 10 Value of Fringe Benefits 10 11 Total fringe benefit tax liability 11 12 Total interest payable 12 13 Total tax and interest payable 13 14 Taxes Paid

a Advance Tax 14a b Self Assessment Tax 14b

c Total Taxes Paid (14a+14b) 14c 15 Tax Payable (13-14c) 15 C

OM

PUT

AT

ION

OF

FRIN

GE

B

ENE

FITS

AN

D T

AX

TE

RE

ON

16 Refund (14c – 13) 16 VERIFICATION

I, son/ daughter of , holding permanent account number ____________ solemnly declare that to the best of my knowledge and belief, the information given in the return and the schedules thereto which have been transmittedelectronically by me vide acknowledgement number mentioned above is correct and complete and that the amount of total income/ fringe benefits and other particulars shown therein are truly stated and are in accordance with the provisions of the Income-tax Act, 1961, in respect of income and fringe benefits chargeable to income-tax for the previous year relevant to the assessment year 2009-10. I further declare that I am making this return in my capacity as ___________ and I am also competent to make this return and verify it. Sign here Date Place

If the return has been prepared by a Tax Return Preparer (TRP) give further details as below: Identification No. of TRP


For Office Use Only RReecceeiipptt NNoo DDaattee



[Notification No. 32/2009 / F.No.142/02/2009‐TPL]

(Vijay K. Jaiswal) Under Secretary to the Government of India

Note.‐ The principal rules were published vide Notification No.S.O.969(E), dated the 26th March, 1962 and last amended by Income‐tax (8th Amendment) Rules, 2009 vide Notification S.O. No. 858 dated 25.03.2009.


Instructions for filling up FORM ITR-V

1. Rule 12(3)(iii) of the Income-tax Rules, 1962 provides that any assessee can file a return of income electronically without the

use of a digital signature. In such cases only an acknowledgement needs to be filed with the Department physically by the assessee.

2. Once a return of income is filed electronically on successful transmission of the data, Form ITR-V duly filled shall be generated by the Income-tax Department’s server to the assessee. This ITR-V will also contain the acknowledgement number of electronic transmission and the date of the transmission as an evidence of filing for the benefit of the assessee. Please down load a copy of such duly filled Form and verify under your signature in the space provided. In case the return was prepared by a Tax Return Preparer (TRP), the particulars of TRP be also filled and this verification form be countersigned by the TRP.

3. This acknowledgement in Form ITR-V duly signed by the assessee needs to be filed physically (in duplicate) with the concerned Assessing Officer. One copy of this acknowledgement would be returned back to the assessee for his record.

4. The codes for the form number and the status of the assessee shall be generated electronically by the Department’s server. 5. The details in item 1 to 16 of this form are to be filled (by the Income-tax Department’s server) on the basis of relevant entry of

concerned ITR form in which the return was transmitted electronically. These are as under-

Item of the relevant form to be filled against the item in column (i) for the items of this form ITR- V Item No. of this Form

Item No. of Form ITR-1







Sl. No.

i ii iii iv v vi vii viii 1 1 3 9 of Part B-

TI 10 of Part B- TI

10 of Part B- TI

9 of Part B- TI

9 of Part B- TI

2 2 4m 10 of Part B- TI

11 of Part B- TI

11 of Part B- TI

10 of Part B- TI

10 of Part B- TI

3 3 5 11 of Part B- TI

12 of Part B- TI

12 of Part B- TI

11 of Part B- TI

11 of Part B- TI

3a 3a Not applicable

14 of Part B- TI

15 of Part B- TI

15 of Part B- TI

14 of Part B- TI

14 of Part B- TI

4 4 12 6 of Part B- TTI

6 of Part B- TTI

7 of Part B- TTI

7 of Part B- TTI

11 of Part B- TTI

5 5 13d 7d of Part B- TTI

7d of Part B- TTI

8d of Part B- TTI

8d of Part B- TTI

12d of Part B- TTI


8 of Part B- TTI

9 of Part B- TTI

9 of Part B- TTI

13 of Part B- TTI

7 7a 15a 9a of Part B- TTI

9a of Part B- TTI

10a of Part B- TTI

10a of Part B- TTI

14a of Part B- TTI

8 7b 15b 9b of Part B- TTI

9b of Part B- TTI

10b of Part B- TTI

10b of Part B- TTI

14b of Part B- TTI

9 7c 15c 9c Part B- TTI

9c Part B- TTI

10c Part B- TTI

10c Part B- TTI

14c of Part B- TTI

10 7d Not applicable

Not applicable

Not applicable

10d of Part B- TTI

10d of Part B- TTI

14d of Part B- TTI

11 7e 15d 9d of Part B- TTI

9d of Part B- TTI

10e of Part B- TTI

10e of Part B- TTI

14e of Part B- TTI


10 of Part B- TTI

11 of Part B- TTI

11 of Part B- TTI

15 of Part B- TTI


11 of Part B- TTI

12 of Part B- TTI

12 of Part B- TTI

16 of Part B- TTI

Not applicable

14 10 1e of Part-C 1e of Part-C 1e of Part-C 15 11 5 of Part-C 5 of Part-C 5 of Part-C 16 12 6c of Part-C 6c of Part-C 6c of Part-C 17 13 7 of Part-C 7 of Part-C 7 of Part-C 18 14a 8a of Part-C 8a of Part-C 8a of Part-C 19 14b 8b of Part-C 8b of Part-C 8b of Part-C 20 14c 8c of Part-C 8c of Part-C 8c of Part-C 21 15 9 of Part-C 9 of Part-C 9 of Part-C 22 16

Not applicable

Not applicable

Not applicable

Not applicable

10 of Part-C 10 of Part-C 10 of Part-C


Government of India

INCOME-TAX DEPARTMENT

ACKNOWLEDGEMENT

Received with thanks from _______________________________________________________________ a return of income

and/or return of fringe benefits in Form No. ITR … for assessment year 2009-10, having the following particulars.

PAN Name


Road/Street/Post Office Area/Locality

Town/City/District State Status (fill the code)

PER

SON

AL

INFO

RM

AT

ION

Designation of Assessing Officer (Ward/ Circle) Original or Revised

1 Gross total income 1 2 Deductions under Chapter-VI-A 2 3 Total Income 3

3a Current Year loss (if any) 3a 4 Net tax payable 4 5 Interest payable 5 6 Total tax and interest payable 6 7 Taxes Paid

a Advance Tax 7a b TDS 7b c TCS 7c d Self Assessment Tax 7d

e Total Taxes Paid (7a+7b+7c +7d) 7e 8 Tax Payable (6-7e) 8

CO

MPU

TA

TIO

N O

F IN

CO

ME

A

ND

TA

X T

HE

RE

ON

9 Refund (7e-6) 9 10 Value of Fringe Benefits 10 11 Total fringe benefit tax liability 11 12 Total interest payable 12 13 Total tax and interest payable 13 14 Taxes Paid

a Advance Tax 14a b Self Assessment Tax 14b

c Total Taxes Paid (14a+14b) 14c 15 Tax Payable (13-14c) 15 C

OM

PUT

AT

ION

OF

FRIN

GE

B

ENE

FITS

AN

D T

AX

TE

RE

ON

16 Refund (14c – 13) 16 RReecceeiipptt NNoo DDaattee



notification income taxtaxclubindia.com/itr forms 09-10/all.pdf13 a interest payable u/s 234a 13a b...

Documents