Tag Archives: Income Tax Return

Penalty for inaccurate particulars in Income Tax Return

By | October 29, 2016

Penalty for inaccurate particulars on return The Mumbai Bench of the Income-tax Appellate Tribunal held that when a taxpayer claimed both a deduction for expensing the purchase of fixed assets and deprecation on the assets (thus, a double deduction), a penalty applies because the claim itself was not bona fide and lacked good faith. Information provided by… Read More »

Questions Related to e-Filing Process of Income Tax Return

By | July 20, 2016

I don’t understand the process of e-Filing. What should I do?Answer: To understand the procedure to e-File Income Tax Returns, GO TO ‘e-File’ on the home page of the ITD e-filing web site OR GO TO ‘Help’ → ‘How to e-File’ on the homepage. What is the Return Preparation Software?Answer:The ITD e-filing website has provided… Read More »

Rectification of ITR (Income Tax Return) : FAQ’s

By | June 9, 2016

Rectification of ITR (Income Tax Return)   Can I make rectification or other correspondence with CPC in paper form? Answer: No What CPC reference number should I enter while filing Rectification request on incometaxindiaefiling.gov.in portal? Answer:You need to enter the Communication Reference Number as per the latest order/intimation received from CPC u/s 143(1) OR 154.… Read More »

Why to file income tax return when No taxable income

By | June 5, 2016

 Reasons to file Income Tax Return Whether income tax return should be filed or not depends on your income level. When total income is within the minimum exemption limit, it’s not compulsory to file income tax return. The minimum exemption limit is Rs 2.5 lakh if you are less than 60 years old. For those who between 60… Read More »

Trouble Shooting on e-Filing of Income Tax Return

By | May 3, 2016

Trouble Shooting on e-Filing DSC Registration Problem Description: I am not able to register my Digital Signature Certificate. Or while trying to e-File Income Tax Return using Digital Signature Certificate, the ‘Select your .pfx file’ or ‘Select with your USB Token’ buttons are not displayed or are not clickable. Corrective Action: This occurs due to… Read More »

Guide on how to file Income Tax Return

By | December 24, 2015

 File Income Tax Return 1.  Register yourself to file Income Tax Return Register yourself on the website www.incometaxindiaefiling.gov.in . Create your account .Permanent Account Number (PAN) will be your user ID. 2. Check 26AS to file Income Tax Return  your tax credit statement — View Form 26AS . The statement will reflect the taxes deducted and actually deposited… Read More »

7 Benefit of Filing Income Tax Return

By | December 22, 2015

No 1. Benefit of Filing Income Tax Return : Financial credibility Income Tax Return  creates a strong financial background as filing income tax return shows financial credibility of the assessee thereby assisting him for easy fund procurements in the form of loans for education , housing, vehicle etc from Banks / Financial Institutions No 2. Benefit of Filing… Read More »

How to file Income Tax Return Online

By | July 22, 2015

How to file Income Tax Return Online Register With Income Tax Department To file Income tax return or to View your tax credit statement in Form 26AS  you need to register yourself on the Income tax website https://incometaxindiaefiling.gov.in/ Now the Steps for filling online return are hereunder: Step 1: Open the Income Tax portal https://incometaxindiaefiling.gov.in/,… Read More »

How to file income tax return without sending signed copy of ITR-V to Banglore?

By | July 22, 2015

How to file income tax return without sending signed copy of ITR-V to Banglore? Taxpayers filing return of income electronically (without digital signatures) are required to send the signed copy of ITR-V acknowledgement to the CPC, Bengaluru within 120 days of uploading the return. From the Assessment Year 2015-16, an option is given to the… Read More »

EVC Verification of e Return of AY 2013-14 and AY 2014-15

By | July 22, 2015

EVC Verification of e Return of AY 2013-14 and AY 2014-15 F.No. 2251141/2015/ITA.II Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes  North Block, New Delhi, Dated- 20th   of July, 2015 Order under section 119(1) of income-tax Act. 1961 Subject: Validation of tax-returns through Electronic Verification Code-reg.- The Central… Read More »