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    E Filing

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    Aamna Raza
    The document discusses e-filing of income tax returns in India. There are 7 types of income tax return (ITR) forms depending on the nature and amount of income. Taxpayers can e-file ITR forms 1-4 online, or download software to fill forms offline. E-filing provides advantages like availability anywhere anytime and faster refunds. To complete the return filing process, taxpayers must e-verify returns electronically using Aadhaar OTP, bank account, net banking or digital signature within the stipulated time.

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    E Filing

    Uploaded by

    Aamna Raza
    27 views19 pages
    The document discusses e-filing of income tax returns in India. There are 7 types of income tax return (ITR) forms depending on the nature and amount of income. Taxpayers can e-file ITR forms 1-4 online, or download software to fill forms offline. E-filing provides advantages like availability anywhere anytime and faster refunds. To complete the return filing process, taxpayers must e-verify returns electronically using Aadhaar OTP, bank account, net banking or digital signature within the stipulated time.

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    E-FILING

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    The document discusses e-filing of income tax returns in India. There are 7 types of income tax return (ITR) forms depending on the nature and amount of income. Taxpayers can e-file ITR forms 1-4 online, or download software to fill forms offline. E-filing provides advantages like availability anywhere anytime and faster refunds. To complete the return filing process, taxpayers must e-verify returns electronically using Aadhaar OTP, bank account, net banking or digital signature within the stipulated time.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    27 views19 pages

    E Filing

    Uploaded by

    Aamna Raza
    The document discusses e-filing of income tax returns in India. There are 7 types of income tax return (ITR) forms depending on the nature and amount of income. Taxpayers can e-file ITR forms 1-4 online, or download software to fill forms offline. E-filing provides advantages like availability anywhere anytime and faster refunds. To complete the return filing process, taxpayers must e-verify returns electronically using Aadhaar OTP, bank account, net banking or digital signature within the stipulated time.

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    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    of 19

    E-FILING

    INCOME TAX
    FILING

    Aamna Raza (22BA088, Section A) Aamna Raza (22BA088)


    Ishita (22BA099, Section A) Ishita (22BA099)
    Radhika Nair (22BA153, Section B) Radhika Nair (22BA153)
    The process of electronically filing income tax return, through the internet, is known as E-
    filing.
    Advantages of E-filing:
    ● Anywhere, Anytime
    ● Easy, fast and secure
    ● Faster refunds
    ● Immediate Acknowledgement
    ● 24/7 online service
    ● Dedicated helpdesk to support the queries
    WEBSITE FOR E-FILING:
    Home | Income Tax Department
    ITR RETURNS
    INCOME TAX: E-FILING OF RETURNS

    ● The Income Tax Return (ITR) is a form that has to be submitted to the Income Tax
    Department, and is to be filled with details of a person’s income and taxes paid
    during a year.
    ● There are 7 types of ITR forms and which form is applicable depends on nature and
    amount of income and type of taxpayer (E.g. Individual, company, etc)
    ● The Income Tax Return (ITR) can be filled online at the e-filing portal for ITR forms
    1 to 4 or else one has to download either a Excel-based Utility or a software to fill the
    ITR form offline and then upload a JSON file.
    ● ITR 1 (SAHAJ) - Applicable for individuals
    ● ITR 2 - Applicable for individuals and HUF
    ● ITR 3 - Applicable for individuals and HUF
    ● ITR 4 (SUGAM) - Applicable for individuals,HUF and firms (other than LLP)
    ● ITR 5 - For Association of person (AOP), Body of individuals (BOI), Artificial
    Juridical person, LLP, Local authority
    ● ITR 6 - Applicable for domestic and foreign company
    ● ITR 7 - Applicable for domestic company, Local authorities
    INCOME TAX CALCULATOR
    TAX DEDUCTED AT SOURCE (TDS)

    ● For quick and efficient collection of taxes, the Income-tax Law has incorporated a
    system of deduction of tax at the point of generation of income. This system is called
    TDS.
    ● Tax is deducted by the payer and is remitted to the Government by the payer on
    behalf of the payee.
    ● The provisions of TDS are applicable to several payments such as salary, interest,
    commission, brokerage, royalty, contract payments etc.
    TAX DEDUCTED AT SOURCE (TDS)
    E-VERIFICATION

    ● Essential to verify Income Tax


    returns to complete the return filing
    process. Without verification within
    stipulated time, the ITR is treated as
    invalid.

    ● The e-Verify service is available to


    both registered and unregistered
    users on thecan
    Taxpayers e-Filing portal.
    go through the e-verification user manual for a step by step guide :
    How to e-Verify User Manual | Income Tax Department
    Modes available for e-Verification
    Procedure for e-Verification

    Visit the e-filing portal of Income Tax Department and click on “e-Verify Return”
    under Quick Links.

    Enter PAN, assessment year and acknowledgement number received at the time of
    ITR filing.

    Next, a web page will be displayed showing the details of the uploaded return.
    Click e-verify on this page to start the ITR verification process.
    Various methods to generate the e-verification code (EVC) will be displayed.
    Generate EVC using a suitable method.

    After successfully generating the EVC, enter the code and click submit.

    The “Return successfully e-verified” message will be displayed with a transaction ID


    after you submit the EVC. You may download the attachment using the green button
    for your record.
    SCREENSHOT OF
    E-VERIFICATION
    WEBPAGE
    Benefits of e-Verification
    ● One does not need to send a physical copy of your ITR-V to CPC, Bangalore.
    ● Verification of your ITR happens instantly, which saves one from the delay in transit of
    ITR-V.
    ● One can e-Verify using any of the various methods - Aadhaar OTP / EVC (using pre-
    validated bank / demat account) / Net Banking / Digital Signature Certificate (DSC).
    THANK YOU!

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