A new feature as Tax Calculator is added in New/Latest R.P.U. New Saral-II (ITR-1) for the Financial Year 2009-10 (Assessment Year 2010-11). Here is the 8 saral steps of e-filing your tax return.
Steps to follow : Here
These Forms can be submitted in the following manner: (i) a paper form;
(ii) e-filing
(iii) a bar-coded paper return.
Returns can be e-filed through the internet. E-filing of return is mandatory for companies and firms requiring statutory audit u/s 44AB. E-filing can be done with or without digital signature-
a) If the returns are filed using digital signature, then no further action is required from the tax payers.
b) If the returns are filed without using digital signature, then the tax payers have to file ITR-V with the department within
15 days of e-filing.
c) The tax payers can e-file the returns through an e-intermedi- ary who would e-file and assist him in filing of ITR-V within
15 days.
Where the form is furnished by using bar coded paper return then the tax payers need to print two copies of Form ITR-V. Both copies should be verified and submitted. The receiving official shall return one copy after affixing the stamp and seal.
(ii) e-filing
(iii) a bar-coded paper return.
Returns can be e-filed through the internet. E-filing of return is mandatory for companies and firms requiring statutory audit u/s 44AB. E-filing can be done with or without digital signature-
a) If the returns are filed using digital signature, then no further action is required from the tax payers.
b) If the returns are filed without using digital signature, then the tax payers have to file ITR-V with the department within
15 days of e-filing.
c) The tax payers can e-file the returns through an e-intermedi- ary who would e-file and assist him in filing of ITR-V within
15 days.
Where the form is furnished by using bar coded paper return then the tax payers need to print two copies of Form ITR-V. Both copies should be verified and submitted. The receiving official shall return one copy after affixing the stamp and seal.
Filing your return through Tax Return Preparers (TRPs)
If you are an individual or an HUF assessee and you are not required to get your accounts audited (called ‘eligible person’) under the provisions of the Income Tax Act, then you can use the services of a Tax Return Preparer (TRP). However, if the ‘eligible person’ is not a resident in India during the previous year relevant to such assessment year, he can not avail of the services of a TRP.
If you are filing your returns through a TRP then you should ensure that:
i) You are eligible to file return of Income under this Scheme;
ii) You give your consent to any Tax Return Preparer to prepare your return of income for any assessment year;
iii) You verify that the facts mentioned in the return are true and correct before you sign the return;
iv) You certify the amount which has been paid by you under this Scheme to the Tax Return Preparer for preparing and furnishing of the return of income; and
v) You take a receipt of the payment made to the Tax Return Preparer and produce the same before the Resource Centre or Assessing Officer, if required,
Incentive to Tax Return Preparers
The Tax Return Preparer shall charge a fee of two hundred and fifty rupees for any assessment year from the eligible person for preparing and furnishing his return of income for that assessment year:
Provided that he will charge no fees for preparing and furnishing the return for any eligible assessment year if the amount disbursable to him as per the scheme notified by the government for that eligible assessment year exceeds two hundred and fifty rupees. If the amount
disbursable is less than two hundred and fifty rupees, we can charge the difference between rupees two hundred fifty and the amount disbursable.
If you are an individual or an HUF assessee and you are not required to get your accounts audited (called ‘eligible person’) under the provisions of the Income Tax Act, then you can use the services of a Tax Return Preparer (TRP). However, if the ‘eligible person’ is not a resident in India during the previous year relevant to such assessment year, he can not avail of the services of a TRP.
If you are filing your returns through a TRP then you should ensure that:
i) You are eligible to file return of Income under this Scheme;
ii) You give your consent to any Tax Return Preparer to prepare your return of income for any assessment year;
iii) You verify that the facts mentioned in the return are true and correct before you sign the return;
iv) You certify the amount which has been paid by you under this Scheme to the Tax Return Preparer for preparing and furnishing of the return of income; and
v) You take a receipt of the payment made to the Tax Return Preparer and produce the same before the Resource Centre or Assessing Officer, if required,
Incentive to Tax Return Preparers
The Tax Return Preparer shall charge a fee of two hundred and fifty rupees for any assessment year from the eligible person for preparing and furnishing his return of income for that assessment year:
Provided that he will charge no fees for preparing and furnishing the return for any eligible assessment year if the amount disbursable to him as per the scheme notified by the government for that eligible assessment year exceeds two hundred and fifty rupees. If the amount
disbursable is less than two hundred and fifty rupees, we can charge the difference between rupees two hundred fifty and the amount disbursable.
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