The
process of electronically filing Income tax returns through the
internet is known as e-filing. It is mandatory for Companies and Firms
requiring Section 44AB audit to submit the Income tax returns
electronically for AY 2007-08. Any Company and Firm requiring Section
44AB audit return without an e-filing receipt will not be accepted. The
Income Tax Department is keen to encourage efiling of IT returns by all
taxpayers in view of the following benefits to taxpayers.
- Anywhere-Anytime Filing
- No long queues
- No Personnel Interface
- Quick Processing
- Accurate data in return
New IT returns forms
notified by IT Department
The
new Income Tax (IT) return forms for AY 2007-08 were notified by the
Government on May 14th. The Income Tax Department is presently
preparing the software to enable e-return preparation and to accept the
efiled return. Click here to download a brief overview of E-filing. Click here to download basic IT return forms and instructions
new Income Tax (IT) return forms for AY 2007-08 were notified by the
Government on May 14th. The Income Tax Department is presently
preparing the software to enable e-return preparation and to accept the
efiled return. Click here to download a brief overview of E-filing. Click here to download basic IT return forms and instructions
Efiling process
The efiling process for AY 2007-08 (current year) is briefly described below:
year)
- Download IT return preparation utility for AY 2007-08 from this website (to be available shortly).
- Fill up Income and tax details. Based on tool tips and in-built validations ensure that the information filled is accurate.
- Click 'Validate'
button at the bottom of the form to validate the form. Make corrections
till the form is completely valid. You can save the form at any stage and complete the form as per your convenience. - Click on 'Generate XML file' button to generate the xml file of your IT return and save it on your computer.
- Open the Income tax Department efiling website and create userid and password to log in.
- After logging in, click on 'Submit the IT return' button on the website.
- Browse
and select the xml file corresponding to your IT return that is saved
on your computer. You must be connected to the Internet during this
entire process. You can efile your IT return with or without digital
signature. - After successful upload of details and validations
at the website, the Income Tax Department would generate an electronic
receipt of the IT return. In case you have signed your return with a
digital signature, the receipt of e-return may be kept for your records
and this receipt need not be submitted to the IT Department. - In case you have filed without a digital
signature the electronic receipt generated will be the ITR-V form.
Please note that the ITR-V form can be generated only by the IT
Department. - Take
a printout of the ITR-V form. Please sign on the ITR-V at the
appropriate place to verify and acknowledge the electronic submission
of your IT return. - Submit two copies to the Income Tax
Department receipt counter. After placing an Acknowledgement stamp on
the 2 copies, the counter clerk would return one ITR-V form to you for
your records and retain the other copy. - You
can also file your IT return electronically through e-return
intermediaries who would assist you with efiling and submission of
ITR-V after obtaining your signature to the IT department.
Income
Tax return forms for 2007-08 are annexure-less forms (ie there is no
need to attach TDS certificates, LIC receipts, other documents etc with
the return). Therefore, taxpayers are advised to ensure that the
details filled in the IT return are accurate.
Tax return forms for 2007-08 are annexure-less forms (ie there is no
need to attach TDS certificates, LIC receipts, other documents etc with
the return). Therefore, taxpayers are advised to ensure that the
details filled in the IT return are accurate.
The
IT Department has introduced a facility through M/s NSDL for any
taxpayer (PAN holder) to verify the status of Tax Deducted at Source
(TDS) or tax payments (Advance tax, Self Assessment tax etc) after
registration. The procedure for viewing the consolidated tax status
called Form 26AS is available at the following weblink at NSDL. Click here for Frequently asked questions about Form 26AS.
Information for advanced users only
IT Department has introduced a facility through M/s NSDL for any
taxpayer (PAN holder) to verify the status of Tax Deducted at Source
(TDS) or tax payments (Advance tax, Self Assessment tax etc) after
registration. The procedure for viewing the consolidated tax status
called Form 26AS is available at the following weblink at NSDL. Click here for Frequently asked questions about Form 26AS.
Software developers, E-return intermediaries and /or other advanced users, please click here.
E-file IT returns for AY 2006-07 (previousyear)
Efiling of Income Tax returns for Assessment year (AY) 2006-07 (previous
year) continues to be available: click here to efile IT returns for AY 2006-07.
year) continues to be available: click here to efile IT returns for AY 2006-07.
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