E Filing Of Returns In India

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  • 1. E-Filing of Returns An Overview of the Process of E-Filing of Returns for ITS Forms 1, 2, 3, 3B and 2F
  • 2. What is E-Filing
    • The process of electronically filing Income tax returns through the internet is known as e-filing.
    • It is mandatory for companies to submit the Income tax returns electronically for AY 2006-07.
      • Any company return submitted without a e-filing receipt will not be accepted.
    • E-filing is possible with or without digital signature.
  • 3. Types of E-Filing
    • There are three ways to file returns electronically
    • Option 1: Use digital signature in which case no paper return is required to be submitted
    • Option 2: File without digital signature in which case paper return has to be submitted
    • Option 3: File through an e-return inter-mediary who would do efiling and also file the paper return on behalf of the taxpayer
  • 4. Types of E-Filing E File with Digital Signature E File without Digital Signature E File through e-return intermediary No Paper return Paper return Income Tax Department Local Offices http://incometaxindiaefiling.gov.in
  • 5. E-Filing Process
  • 6. E-Filing – Relevant Laws and Rules
    • Vide Notification No. 128/2006, dated 1-6-2006 S.O. 848 (E), Form 2F was notified.
    • Vide NOTIFICATION NO. 189/2006, dated 24-7-2006 Forms 1, 2, 3, 3B were notified
    • Vide Notification No. 253 of 2004, dated 30th Sep., 2004 S.O.1073(E), Electronic Furnishing of Return of Income Scheme, 2004 was notified for efiling of returns:
      • An eligible person may, at his option, furnish his return of income which he is required to furnish under sub-section (1) of section 139 of the Act for the assessment year 2004-05 and any subsequent assessment year, to an e-Return intermediary.
      • Digital signature, e-return, e-return intermediary were defined in this scheme
  • 7. Who can file E-Returns Individual/HUF not having business income, capital gains or agricultural income and not claiming relief u/s 89 and one house property Optional Form 2F 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 with certain exception Optional Form 3B All Non Corporate assessees a. not claiming exemption under section 11, and b. not having income from business or profession Optional Form 3 All Non Corporate assessees a. not claiming exemption under section 11, and b. having income from business or profession Optional Form 2 All companies other than those claiming exemption under section 11 Mandatory Form 1 Who can file Efiling Form
  • 8. How to File an e-Return
    • Web Portal Overview
      • Hosted at Income tax Department.
      • It is the web site the Income Tax Payer sees.
      • Accepts XML file for further processing of Returns.
      • Allows end users to Register, Download various utilities to help in e-filing, and upload the e-returns.
      • It’s the one-stop for anyone requiring to file e-Returns.
  • 9. Focused message On E-Filing
  • 10. Updates for ITax Payers
  • 11. Menu focusing On Forms
  • 12. Registered Member Login
  • 13. New Member Registration
  • 14. Sub Menu for Forms This shows the Sub- Menu when clicking On Form 1
  • 15. Other Services Can Now be Accessed from Here
  • 16. Simple Steps to e-Returns
    • This is for all members who have not yet registered with us.
    • New Members must Register themselves first.
  • 17. Simple Steps…User Registration
    • Form after basic validation of the User Registration
    • This allows end user to update details
    • Upon Successful User Registration you will get the message
    • “ User Created”
  • 18. Simple Steps…Login
    • Login to the portal using your username and password
    • This combination will be unique to you
    • For security purposes please use a password with minimum 6 characters which are alphanumeric
  • 19. Simple Steps…Menu
    • This menu will appear on the left navigation after Successful Login
    • Click on Downloads to be taken to the download page.
  • 20. Simple Steps…Download
    • The Download page allows you to download various Client utilities that Income tax Department offers to the Tax Payers.
    • This will come after Login. Click on the Download button to start the download.
  • 21. Simple Steps…Forms
    • The site offers three Free applications which can be used to fill up the forms
    • Any one of them may be used as per convenience
    • The formats offered for Form 1 and Form 3B are
      • .exe (Windows Application)‏
      • .Xls (Microsoft Excel)‏
    Windows Application (.EXE)‏ PDF Application Excel Application
  • 22. Simple Steps…Forms
    • This is a sample snapshot from the Windows Application
    • This application allows you to enter data, save partially, export to print, and generate XML
    • It has a pre-requisite software which must be installed on your computer. This pre-requisite software is also available free from the e-Filing web site.
  • 23. Simple Steps…Forms
    • The Microsoft Excel version of the Form allows you to enter the data required to be filled in.
    • Allows you to save, export to XML.
    • Has a Three Step Process:
      • Validates the input
      • Generates a file called an SRF File (.srf extension)‏
      • Has a separate File Validation Utility which accepts the .srf as input and generates the XML file as the output.
    Embedded Excel Validator
  • 24. Simple Steps…XML Generation/Validation
    • Either of the applications listed earlier, or other applications based on Income tax Department’s XML Schema can be used to generate the output XML File.
    • This XML file will be around 100 KB in size
    • It will have a .xml extension.
    • Upload the XML file to the e-Filing server.
  • 25. Simple Steps…Upload XML
    • Click on Browse
    • Locate the Valid XML from your local computer’s hard disk or where ever you have saved it.
    • Click ‘Upload’ to upload the XML to the e-Filing Server.
  • 26. Simple Steps…Receipt
    • The system will automatically verify the XML you have uploaded
    • It will generate a Provisional Acknowledgement
    • You may print the same for your records
    Provisional Acknowledgement Number Generated. You May Print this.
  • 27. Supporting Tax Payers
      • Web Query through e-mails : Provision is being made to allow registered users to seek replies to queries via e-mail. For this reason, a valid e-mail in the user profile is a must.
      • Help Module on Homepage: Help Modules are available on the Homepage itself, and are being regularly updated.
      • FAQs: Frequently Asked Questions are a set of questions that the end user typically may seek answers to. A set of these are available at the web site, and are also being regularly updated.
  • 28. Benefits to Tax Payers
      • Anywhere-Anytime Filing
      • No Personnel Interface
      • Quick Processing
      • Direct Credit of Refunds
      • Return Tracking
      • Permanent Records
  • 29. Thank You