Highlights on Filing of Return for AY 2009-10

CA. Gurdeep Singh Chawla (C A) (7080 Points)

02 June 2009  

  • Form ITR-V is to be furnished within thirty days after the date of transmitting the data electronically. In case, Form ITR-V, is furnished after the above mentioned period, it will be deemed that the return in respect of which the Form ITR-V has been filed was never furnished and it shall be incumbent on the assessee to electronically re-transmit the data and follow it up by submitting the new Form ITR-V within thirty days. 
  • Since the Form ITR-V is bar-coded, assessee is advised not to fold the same and post in A4 size envelope to the Income-tax Department by mailing it to Income Tax Department CPC, Post Box No - 1, Electronic City Post Office, Bangalore - 560100, Karnataka within thirty days after the date of transmitting the data electronically. 
  • Upon receipt of the Form ITR-V, the
    CPC shall send an e-mail acknowledging the receipt of Form ITR-V. The e-mail shall be sent in due course to the e-mail address furnished by the tax-payers in his return.
  • No Form ITR-V shall be received in any other office of the Income-tax Department or in any other manner. 
  • No disallowance of claim for pre-paid taxes shall be made by the Assessing Officer only on the ground that the TDS/TCS certificates and challans have not been furnished along with the return of income or Form ITR-V. 
  • The credit for any TDS or TCS claim will be allowed if the assessee quotes the relevant UTN for every TDS and TCS claim and the said UTN matches with the UTN in the database of the Income Tax Department.. 
  • It is advisable, though not mandatory, to use a digital signature for electronically furnishing the return 
  • All returns filed electronically shall be processed, on priority basis, only at the Centralized Processing Centre of the Income-tax Department in Bangalore.
  • Income tax department introduced the concept of UTN with retrospective effect from 01.04.2008. Mentioning of UTN is mandatory for filing e-returns and for the purpose of proper claims.