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Income Tax Return eFiling - Must Know Facts

Income Tax filing is a legal obligation of every citizen of India whose total income of the previous year exceeds the limit defined by the IT law. Thanks to Information Technology, now you can file your tax return online via https://incometaxindiaefiling.gov.in or third party services such as myitreturn.com, Taxsmile.com etc.(Refer list of e-filing portals below). Income Tax Department has received a record number of 1.64 crores e-Returns in the F.Y. 2011-12.

You need to file the return on or before 31st of July of the assessment year. This article does not provide information on how to file your tax but the steps to follow after filing your returns.

Once you are done with the Income Tax e-filing, the acknowledgement form will be available for download normally in 2-7 days depends on the portal through which you filed your return. You need to download, sign and send the Income Tax Return Verification Form(ITR-V) to the Income Tax department within 120 days of submission via ordinary post or speed post only.

Checklist:
  • The ITR-V is printed through Jet/Laser printer and not from a Dot Matrix printer. 
  • The ITR-V is printed in a A4 size paper. 
  • Print should be clear and in black ink only. 
  • The signature is done by the return filer only and should be in blue ink only. 
  • Nothing is written by the return filer on ITR-V except for the signature. 
  • The ITR-V is original signed copy and not a photo-copy or scanned copy. 
  • No other document is stapled or attached along with the ITR-V. 
  • The paper should not be perforated or folded at all.
  • Nothing is printed on the back of the ITR-V. 
  • The ITR-V is to be sent via Ordinary Post or Speed Post only.

You may fill in the blank space depends on the category you fall in to:

"I further declare that I am making this return _____________ in my capacity as and I am also competent to make this return and verify it."
  • In case of Individual it can be 'Your Name', Individual' or Authorized Signatory or leave this field blank.
  • In case of HUF it can be 'Karta' or Authorized signatory
  • In case of Partnership it can be 'Partner' or Authorized Signatory
  • In case of Company it can be 'Director' or Authorized Signatory

Now you can send the signed ITR-V form to the following address:

Income Tax Department - CPC, Post Bag No - 1, Electronic City Post Office, Bengaluru - 560100, Karnataka

The receipt of this ITR-V at ITD-CPC will be sent to your e-mail address you used while filing your IT-return.

Resources - E-Filing

  • Simply eFile - www.simplyefile.com 
  • M/S. VENU & VINAY - www.vnv.ca 
  • TaxSmile - www.taxsmile.com 
  • R VAIDHYANATHAN - vaidhyanathanca@yahoo.com 
  • H. GANESH - www.venkatashandanantharaman.co.in 
  • eTaxesIndia - www.TaxManager.in 
  • RAKESH KANWAR and CO. - www.rakeshkanwar.com 
  • H.M.GOYAL and ASSOCIATES - hmgoyal@yahoo.co.in 
  • RAJEEV KHANDELWAL - www.erirajeev.com 
  • SKORYDOV - https://myITreturn.com 
  • Span Across IT Solutions Pvt. Ltd. - www.taxspanner.com/ts/efilebyemail 
  • M/S MANISH SUKHANI and CO. - coreconsultants@gmail.com , camsco@rediffmail.com 
  • Zachariah George and Co - www.cazgc.com 
  • CA DINESH K KUMAR FCA, DISA(ICAI) - http://www.cadineshkkumar.com 
  • M.N. MITRA and Co. - mnmitra@yahoo.com 
  • K.R.SRIRAM and Co. - sri1302@gmail.com 
  • A. L. & ASSOCIATES - www.achigroup.com 
  • SINGH AGARWAL and ASSOCIATES - www.agarwalassociates.com 
  • ISHENDRA PANDEY - http://www.ishendra.in 
  • M/s. SANJAY RUIA and ASSOCIATES - www.taxeworld.com 
  • S A FOUJDAR and Co. - safandcopune@hotmail.com 
  • R. R. VAIDYA and ASSOCIATES - http://rrvaidya-ca.com/ 
  • Sheetal Nair - www.imoneyplant.com 
  • Cnergyis InfoTech - FileMyReturns - http://www.filemyreturns.com/ 
  • MUNICHETTY MUKUNDA RAO - mmukundarao@gmail.com 
  • PRAVEEN KUMAR NAHATA - praveenoswal@rediffmail.com 
  • EasyItFiling.com - https://easyitfiling.com/ 
  • SHARMA ASSOCIATES - sharmaincometax@gmail.com 
  • JIGNESH KANABAR - www.jigneshkanabar.net

Disclaimer:
The information provided in this article is only for your information. Please contact a chartered accountant or a tax professional before filing your returns.

Tax Slab For the Financial Year 2012-2013

Comments

  1. I'm not in India now for the financial year 2011-12, so there is no tax for me. But I got tax on interest that my bank has paid to Govt. Still should I file the tax returns to Govt.
    Please clarify. Thanks.

    ReplyDelete
  2. For non-resident Indians tax filing is needed only if the income earned from India exceeds the income tax limits OR any short-term or long-term capital gains earned from sale of any investments or assets in India. Hope this help!

    ReplyDelete
  3. Ragarding "I am making this return in my capacity as...." In ITR-V, AY 2013-2014, I called up IT dept. they said Nothing other than sign should be entered. I am an Individual.

    ReplyDelete
  4. Suman p. Sircar, kolkata27 July 2013 at 11:11

    Please keep "I am making this return in my capacity as..." ... as blank. If you are an individual and just sign. It is also mentioned that you should not fold the doc. This means that the fold should not be on the BAR code that is printer on the doc. If the fold is on the bar code the doc will not be able to be scanned.

    ReplyDelete
  5. @Suman
    You are right, individuals may leave this field blank.

    ReplyDelete
  6. Helpful totally. Simple and crisp.

    ReplyDelete
  7. I liked the post, this is the second time I am filling from myself only through cleartax.in. They have generated a ITR-V form for me which I have signed. How will the tax guys know in which account they will deposit the money? Where do I mention it.

    ReplyDelete
    Replies
    1. There is an option in the itr form to provide bank account details...

      Delete

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