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ITR E-Filing

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Income Tax Return E-Filing Procedures

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ITR E-Filing

  1. 1. By : CHARVIK N MOMAYA ( ACA, D.I.S.A )
  2. 2. www.mymuneemji.com Which ITR to file ? WIRC Students Seminar 05-05-2015 2
  3. 3. www.mymuneemji.com ITR-1(SAHAJ) • Can be used by an individual having : ▫ Income from salary/pension; or ▫ Income from one house property (excluding cases where loss is brought forward from previous years); or ▫ Income from other sources ▫ Clubbing of Income if income falls in above categories. WIRC Students Seminar 05-05-2015 3
  4. 4. www.mymuneemji.com ITR-1(SAHAJ) • Cannot be used by Individuals having ▫ income from more than one house property. ▫ income from winnings from lottery or income from race horses. ▫ income chargeable to tax under the head "Capital Gains“ or “Business or profession”. ▫ exempt income of more than Rs. 5,000. ▫ loss under the head “Other sources“ or House Property. ▫ claimed relief under Section 90 and/or Section 91 ▫ Who is a resident and ordinarily resident and having any assets (including financial interest in any entity) located outside India or signing authority in any account located outside India. WIRC Students Seminar 05-05-2015 4
  5. 5. www.mymuneemji.com ITR-2  Can be used by Individuals having  Income from Salary / Pension; or ▫ Income from House Property (From more that 1 House property) ▫ Income from Capital Gains; or ▫ Income from Other Sources (including winnings from lottery and income from race horses). ▫ Exempt Income exceeding Rs. 5000. ▫ Clubbing of Income if income falls in above categories. WIRC Students Seminar 05-05-2015 5
  6. 6. www.mymuneemji.com ITR-2 • cannot be used by an ▫ individual or HUF ▫ income is from Business or Profession. WIRC Students Seminar 05-05-2015 6
  7. 7. www.mymuneemji.com ITR-3 • can be used by an individual or a Hindu Undivided Family ▫ who is a partner in a firm ▫ Income "Profits or gains of business or profession" ▫ the income by way of :  Interest  Salary, bonus, commission or remuneration  Received from that Firm. WIRC Students Seminar 05-05-2015 7
  8. 8. www.mymuneemji.com ITR-3 • In case a partner of 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, he shall use Form ITR – 3 only and not Form ITR-2. WIRC Students Seminar 05-05-2015 8
  9. 9. www.mymuneemji.com ITR - 3 • cannot be used by ▫ an individual or HUF ▫ whose total income for the year includes income from Business or Profession under any proprietorship. WIRC Students Seminar 05-05-2015 9
  10. 10. www.mymuneemji.com ITR-4S (SUGAM) • Can be used by : ▫ Individual/HUF having  Business income computed as per the provisions of Section 44AD or 44AE  Income for which Form ITR – 1 ( Sahaj ) can be used. WIRC Students Seminar 05-05-2015 10
  11. 11. www.mymuneemji.com ITR-4S (SUGAM) • The Form cannot be used by : ▫ Individual/HUF having  Income from speculative business and other special incomes.  Income from profession as referred to in section 44AA(1).  income from agency business / commission / brokerage.  Presumptive income but the assessee wants to get himself audited u/s 44AB. WIRC Students Seminar 05-05-2015 11
  12. 12. www.mymuneemji.com ITR-4 • Can be used by ▫ an individual or a Hindu Undivided Family who is carrying on a proprietary business or profession. ▫ Has any other income apart from above. WIRC Students Seminar 05-05-2015 12
  13. 13. www.mymuneemji.com ITR-5 • Can be used by ▫ Partnership firm including LLP. ▫ Association of Persons ▫ Body of Individuals ▫ Artificial juridical person ▫ Cooperative society ▫ Local authority. WIRC Students Seminar 05-05-2015 13
  14. 14. www.mymuneemji.com ITR-6 • Can be used by  a company,  Unless it is claiming exemption under section 11 (charitable/religious trust can claim exemption under section 11). WIRC Students Seminar 05-05-2015 14
  15. 15. www.mymuneemji.com ITR-7 • Can be used by • persons including companies who are required to furnish return under • Section 139(4A) – Charitable Trusts • Section 139(4B) – Political Party • Section 139(4C) and Section 139(4D) – research Association, News Agency, professional bodies, educational institutions, trade unions, etc WIRC Students Seminar 05-05-2015 15
  16. 16. www.mymuneemji.com List of Forms to be used for Individuals and HUF ( Summary ) Nature of income ITR 1 (Sahaj) ITR 2 ITR 3 ITR 4 ITR 4S (Sugam) Income from salary/ pension Yes Yes Yes Yes No Income from one house property (excluding b/f losses) Yes Yes Yes Yes No Income or losses from more than one house property No Yes Yes Yes No Income not chargeable to tax which exceeds Rs. 5,000 No Yes Yes Yes No Income from other sources (other than winnings from lottery and race horses or losses under this head) Yes Yes Yes Yes No Income from other sources (including winnings from lottery and race horses) No Yes Yes Yes No WIRC Students Seminar 05-05-2015 16
  17. 17. www.mymuneemji.com List of Forms to be used for Individuals and HUF ( Summary ) Nature of income ITR 1 (Sahaj) ITR 2 ITR 3 ITR 4 ITR 4S (Sugam) Capital gains/loss on sale of investments/ property No Yes Yes Yes No Share of profit of partner from a partnership firm No No Yes Yes No Income from proprietary business/ profession No No No Yes No Income from presumptive business No No No Yes Yes Claiming relief of tax under sections 90, 90A or 91 No Yes Yes Yes No WIRC Students Seminar 05-05-2015 17
  18. 18. www.mymuneemji.com List of Forms to be used for Other Assessees ( Summary ) Nature of income ITR 5 ITR 6 ITR 7 Firm Yes No No Association of persons (AOP) Yes No No Body of Individuals (BOI) Yes No No Companies other than companies claiming exemption under Sec. 11 No Yes No Persons required to furnish return under: (1) Section 139(4A); (2) Section 139(4B); (3) Section 139(4C); (4) Section 139(4D) (5) Section 139(4E)” No No Yes WIRC Students Seminar 05-05-2015 18
  19. 19. www.mymuneemji.com Assesses required to File E-Returns 1-Individual or HUF E-filing with DSC E-filing without DSC Paper form a. Required to be Audited u/s 44AB Yes No No b. Required to furnish return in ITR 3 & 4 Optional Yes No c. Resident person having any foreign assets or signing authority in any account outside india. Optional Yes No d. Any relief u/s 90 or 90A or deduction u/s 91 is claimed. Optional Yes No e. any report of audit referred to in proviso to sub- rule (2) of Rule 12 of Income Tax Rules. Optional Yes No f. Individual ( not being super senior citizen ) filing ITR 1 or ITR 2 and having Total Income Above 5 lakhs or is claiming refund. Optional Yes No g. Individuals or HUF other than above : Optional Optional Yes WIRC Students Seminar 05-05-2015 19
  20. 20. www.mymuneemji.com Assesses required to File E-Returns ( Continued ) 2-Other Than Individual or HUF E-filing with DSC E-filing without DSC Paper form a. Companies Yes No No b. Political Party Yes No No c. Persons other than political Party required to file ITR – 7 Optional Yes No d. Firms / LLP / Any other persons covered under Audit u/s 44AB Yes No No e.. Firms / LLP / Any other persons not covered under Audit u/s 44AB) Optional Yes No WIRC Students Seminar 05-05-2015 20
  21. 21. www.mymuneemji.com Points to remember while filing ITR – General 1. Personal details should be according to PAN Card. 2. Latest information related to address and contact details. 3. Proper Bank Account No, IFSC code and type of Account needs to be given in ITR. WIRC Students Seminar 05-05-2015 21
  22. 22. www.mymuneemji.com Points to remember while filing ITR – General 4. Tax credit information is cross verified with Form 26AS. 5. date of Filing of Original return of Assessment years for whose Loss is being carried forward. 6. For Claiming deduction for Donation, ensure you have PAN, address and 80G certificate of Donee. WIRC Students Seminar 05-05-2015 22
  23. 23. www.mymuneemji.com Points to remember while filing ITR – General 7. In case of ITR – 3 and ITR – 4, if Total income exceeds Rs 25 Lakhs, particulars of assets and corresponding Liabilities needs to be given in Schedule AL 8. Details of Foreign income and Assets to be specifically mentioned. 9. Details of Foreign Travelling added from AY 2015-16. WIRC Students Seminar 05-05-2015 23
  24. 24. www.mymuneemji.com Points to remember while filing ITR – General 10. If assessee has deposited under Capital Gain Account for unutilised Capital gains, then details of Amount utilised and un-utilised are to be provided. 11. Assessee providing details of Aadhar card need not send ITR Acknowledgement to CPC, Bangalore. 12. Provide all Income and expense details especially in case of high value transactions. WIRC Students Seminar 05-05-2015 24
  25. 25. www.mymuneemji.com Points to remember while filing ITR-I ▫ Income from the head “ Income from Salary” should match with TDS information given in Schedule “ TDS1” ▫ Use “Calculate Tax” option after entering all information including verification details. The utility will calculate Tax automatically. However, the utility allows you to change tax calculations manually. So, you may verify Tax payable with Computation prepared separately. WIRC Students Seminar 05-05-2015 25
  26. 26. www.mymuneemji.com Points to remember while filing ITR-I ▫ Final Income / Loss from House Property is to be given in ITR. ▫ Donation details are not required to be given for 80G deduction, if any. ▫ Include Previous employer salary details also. WIRC Students Seminar 05-05-2015 26
  27. 27. www.mymuneemji.com Points to remember while filing ITR-2 • First, fill all the details in Schedules like HP, CG, Carry forward of Losses, Deductions, Tax credits, Tax payments, etc. • The Utility will procure information of schedules in Part B – Total Income. • Ensure all income is incorporated while calculating Tax payable and Generating XML file. WIRC Students Seminar 05-05-2015 27
  28. 28. www.mymuneemji.com Points to remember while filing ITR-3 • Select the applicable schedules before filling other details in ITR. • In case the assessee is receiving income from salary, Fill the details according to Form 16 in Schedule S. • Enter Income received from Firm in Schedule BP. Remember that you will require PAN of Firm, PSR ratio and Capital Balance as on year end for filing ITR-3 WIRC Students Seminar 05-05-2015 28
  29. 29. www.mymuneemji.com Points to remember while filing ITR-3 • Also select whether the Firm is in Audit or not in Schedule “IF”. • Details of Foreign income and Assets to be specifically mentioned. • In case Total income exceeds Rs 25 Lakhs, particulars of assets and corresponding Liabilities needs to be given in Schedule AL. WIRC Students Seminar 05-05-2015 29
  30. 30. www.mymuneemji.com Points to remember while filing ITR-4 • In General Information, Mention whether Audit Applicable and give particulars of Tax Auditor. • Also Select whether Audit under various other sections of Income Tax Act is applicable. • Balance sheet of the business / profession needs to be given in Schedule Part A – BS. • Profit & Loss A/c of the business / profession needs to be given in Schedule Part A – P&L. WIRC Students Seminar 05-05-2015 30
  31. 31. www.mymuneemji.com Points to remember while filing ITR-4 • Net Profit in Schedule Part A – P&L should match with Book Profit in Computation part. • Ensure correctness of information related to Bad Debts. PAN of the person is received if amount is greater than Rs One Lakh. • The figures of P&L and B&S should match with Assessee’s Final Accounts. • Information related to Disallowances in Business Income needs to be given in Part A – OI “ General Information “ WIRC Students Seminar 05-05-2015 31
  32. 32. www.mymuneemji.com Points to remember while filing ITR-5 • In case of LLP, give LLPIN No registered with Ministry of Corporate Affairs. • Give Details of Partners/Members as on Last date of Previous year in Part A - General. • Profit Before Tax in Part A – PL should be after Remuneration and interest to partners. WIRC Students Seminar 05-05-2015 32
  33. 33. www.mymuneemji.com Points to remember while filing ITR-6 • Mention CIN No registered with MCA. • Mention details of Holding company if assessee is an subsidiary company. • Give details of All Directors who have Held office during the previous year. WIRC Students Seminar 05-05-2015 33
  34. 34. www.mymuneemji.com Points to remember while filing ITR-6 • Give details of beneficial Shareholders holding more than 10% voting rights in the company. • Enter Profit before Tax while entering data in Schedule - MAT for calculating MAT liability. • Ensure details to dividend declared and Dividend Distribution Tax paid during the previous year is entered in Schedule DDT and DDTP. WIRC Students Seminar 05-05-2015 34
  35. 35. www.mymuneemji.com WIRC Students Seminar 05-05-2015 35
  36. 36. www.mymuneemji.com E filing process Flow Chart 05-05-2015WIRC Students Seminar 36 Do you have user ID & password ? Review instructions, FAQ's, call ITD call center Register onlineNo Download client side utility, instructions. Was there any error or difficulty ? Complete form using software provided. Login Yes Yes No
  37. 37. www.mymuneemji.com WIRC Students Seminar 05-05-2015 37 Was digital certificate used for e-filing ? Attach & upload xml file. Take printout of acknowledgement indicating successful transmission. Take the printout of ITR V form & submit it to nearest Income tax department. Generate xml file & click "submit return" button. No Yes
  38. 38. www.mymuneemji.com Download Return FormClick Here Online ITR Utility WIRC Students Seminar 05-05-2015 38
  39. 39. www.mymuneemji.com Windows appears Click Here WIRC Students Seminar 05-05-2015 39
  40. 40. www.mymuneemji.com E-Filing Site Home Page Click here for Registration WIRC Students Seminar 05-05-2015 40
  41. 41. www.mymuneemji.com Registration Form Select User Type & click Continue WIRC Students Seminar 05-05-2015 41
  42. 42. www.mymuneemji.com Registration form - individual Fill Basic Details & click Continue WIRC Students Seminar 05-05-2015 42
  43. 43. www.mymuneemji.com Login Enter Your PAN no. and Password & click LOGIN WIRC Students Seminar 05-05-2015 43
  44. 44. www.mymuneemji.com To Download ITR Utility To Download The Income Tax Return Utility WIRC Students Seminar 05-05-2015 44
  45. 45. www.mymuneemji.com Select and Download ITR Form Click Here To Download ITR-1 WIRC Students Seminar 05-05-2015 45
  46. 46. www.mymuneemji.com Generate XML File Fill the Details & Click here to Generate XML file WIRC Students Seminar 05-05-2015 46
  47. 47. www.mymuneemji.com Upload Return. WIRC Students Seminar 05-05-2015 47
  48. 48. www.mymuneemji.com Upload Return Click here to attach the XML file Fill other details & click Submit WIRC Students Seminar 05-05-2015 48
  49. 49. www.mymuneemji.com System Requirments 05-05-2015WIRC Students Seminar 1. Browser requirements • Mozilla Firefox (version 22.0, 21.0, 20.0 and above) • Google Chrome (version 26.0.x, 27.0.x, 28.0.x and above) • Internet Explorer (version 8.0, 9.0, 10.0 and above) • Safari (version 4.0, 5.0 and above) 2. Operating System Windows XP with Service Pack 3/Windows 7/Windows 8 3. JAVA JRE 1.7 update 13 and above (32 bit) is required to run applets for Digital Signatures and offline forms to work. 49
  50. 50. www.mymuneemji.com FAQ’s Q 1) I cannot read the file for signing while uploading XML. What should I do? A: This problem is due to your Internet Explorer browser settings. Please do the following, • In Internet Explorer-> Tools ->Internet Option ->Security -> Custom Level-> you should enable "Include local directory Path when uploading file to the server". • Create a folder in the "C" Drive called “fakepath” (c:fakepath) and copy the xml files to this folder. Restart the Browser and you will be able to upload the file. Q 2) I have saved the XML file in my computer, but while uploading, system is giving an error “Cannot read the XML file”? What should I do ? A: Kindly set the Internet Explorer Security Settings to Low. Please follow the below steps: • In case of Windows Vista/Windows 7, Go To Start-->Control Panel--> Programs--> Java--> General tab. • Click on “Settings” button in 'Temporary Internet Files'. • Kindly uncheck the “Keep temporary files on my computer” and click the “Delete Files” button and press OK. • Close your existing browser and open a new browser. WIRC Students Seminar 05-05-2015 50
  51. 51. www.mymuneemji.com FAQ’s Q 3) The web page is expired while uploading a DSC, What should I do ? A: Java Runtime Environment V 1.6 or above, needs to be installed in your machine. Q 4) DSC "session expired" issue and offline forms utility. A: JRE 1.7 update 6 and above (32 bit) is required to run applets for Digital Signatures and offline forms to work. WIRC Students Seminar 05-05-2015 51
  52. 52. www.mymuneemji.com FAQ’s Q 5) User buttons like compute tax and generate xml file is not getting activated. A:The excel sheet for e filing is based on Excel macro .To activate these button you have enable macro in your excel sheet. To start activation, Just save and close the sheet and reopen it and look for the security warning as shown in the picture below ,between worksheet and Menu of excel workbook WIRC Students Seminar 05-05-2015 52
  53. 53. www.mymuneemji.com FAQ’s Q 6) What is to be done if taxpayer gets NULL error, while uploading the XML file?. • This particular problem happens when — special characters like & < > # are entered in Income Tax Return. • Remove special characters from IT return. • Re-validate the file and Generate new xml file • Follow uploading process. WIRC Students Seminar 05-05-2015 53
  54. 54. www.mymuneemji.com FAQ’s Q 7) What is to be done if taxpayer gets “ PAN Mismatch error, while uploading the XML file or updating DSC in IT website? • This particular problem happens when ▫ PAN in verification status in ITR and principal contact details is different. ▫ PAN in DSC and principal contact details is different. • Rectify the details in ITR / IT Website / DSC as the case may be. WIRC Students Seminar 05-05-2015 54
  55. 55. www.mymuneemji.com FAQ’s Q 8) Assessee is assigned as a Legal Heir for a deceased person. While uploading the Income Tax Return of the deceased, he is getting an error “PAN mentioned on Personal Information is invalid”. ▫ PAN in verification status in ITR and principal contact details should be of the assessee and not of the deceased. ▫ Similarly, PAN in DSC and principal contact details should be of the assessee. WIRC Students Seminar 05-05-2015 55
  56. 56. www.mymuneemji.com FAQ’s Q 9) The assessee has forgotten his online password. • New password can be created using any one of following option. ▫ Answering Secret Question. ▫ Upload DSC. – New / Old. ▫ Bank A/c No and ITR Acknowledgement No . ▫ One Time password PINs ▫ Via Net banking account. WIRC Students Seminar 05-05-2015 56
  57. 57. www.mymuneemji.com ANY QUESTIONS ?? 05-05-2015WIRC Students Seminar 57
  58. 58. www.mymuneemji.com WIRC Students Seminar 05-05-2015 58 For any assistance on Efiling of ITR contact : Harshal Patil 8080603419 harshal@mymuneemji.com

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