SEMINAR ON
E-FILING OF INCOME TAX
RETURNS
1
2 2 ND J U L Y ’ 1 4
HELD AT
ICAI BHAWAN ,KOLKATA
BY – CA. RUNIT HARLALKA
O.P. Harlalka & Co. , 12 BBD BAGH (East) , Kolkata -700001
WHO ARE REQUIRED TO E-FILE ITR
2
Individual
whose total
income is
more than
Rs. 5 Lakhs
[Notification
No. 34/2013]
All Tax Audit
cases u/s
44AB, 92E or
115JB of the
IT Act, 1961
All Corporate
Assessees &
Partnership
Firms , LLP
O.P. Harlalka & Co. , 12 BBD BAGH (East) , Kolkata -700001
Trust having
Income
exceeding Rs
5Lakhs or
whose Audit
Report is
filed
Persons
claiming
relief under
Section 90,
90A or 91 of
the Act
The various services available for users in e-filing
3
Mobile services can be availed using the url :http://incometaxindiaefiling.gov.in/mobile/
O.P. Harlalka & Co. , 12 BBD BAGH (East) , Kolkata -700001
WHICH ITR TO BE FILED FOR AY 2014-15
4
ITR-1 (with or
without digital
Signature for
Individuals )
• Salary Income
• One House Property Income (No B/f
Loss)
• Other Income (except horse race
&lottery)
• Exempted income below Rs. 5000.
ITR-2 (with or
without digital
Signature for
Individuals/
HUF)
•
•
•
•
•
Salary Income
House Property Income;
Capital Gains;
Other Income
Assets or SA located out of
India,Claimed relief or EI >5000
O.P. Harlalka & Co. , 12 BBD BAGH (East) , Kolkata -700001
WHICH ITR TO BE FILED FOR A.Y. 2014-15
5
ITR-3 (with or
without digital
Signature for
Individuals/HUF )
ITR-4 (Mandatory
digital signature in
case of TA u/s
44AB for
Individuals/HUF)
•
•
•
•
•
Salary Income;
House Property;
Capital Gains;
Share of Profit from Firm/AOP etc
Other Income
•
•
•
•
•
Salary Income;
House Property;
Capital Gains;
Profits & Gains of Business
Other Income
O.P. Harlalka & Co. , 12 BBD BAGH (East) , Kolkata -700001
WHICH ITR TO BE FILED FOR A.Y.2014-15
6
ITR-5 (Mandatory • To be filed by
digital signature in
Partnership Firm, LLP,
AOP & Local Authority,
case of TA u/s
irrespective of Income
44AB)
ITR-6 (To be filed
only digital with
signature)
• To be filed by
Companies
O.P. Harlalka & Co. , 12 BBD BAGH (East) , Kolkata -700001
WHICH ITR TO BE FILED FOR A.Y. 2014-15
7
ITR 4S
• For Individuals , HUF
having income from
presumptive business
• Trust / AOP /BOI
ITR 7
• Person required to file ITR u/s
139(4A),139(4B), 139(4C),139(4D)
O.P. Harlalka & Co. , 12 BBD BAGH (East) , Kolkata -700001
The Interface
8
O.P. Harlalka & Co. , 12 BBD BAGH (East) , Kolkata -700001
How to E-File ?
9
O.P. Harlalka & Co. , 12 BBD BAGH (East) , Kolkata -700001
Instructions from the Department
10
O.P. Harlalka & Co. , 12 BBD BAGH (East) , Kolkata -700001
Configuration Requirements
11
O.P. Harlalka & Co. , 12 BBD BAGH (East) , Kolkata -700001
A valid Email ID and Mobile Number to be Registered/Updated on the E-Filing
Website of the Income Tax Department
A valid Email ID and Mobile Number has to be registered/updated on the e-filing website of the Income Tax Department so that direct
communication with taxpayer can be possible. For details, taxpayers can log on to:
https://incometaxindiaefiling.gov.in/eFiling/Portal/StaticPDF/Update_Contact_Details.pdf
The Department will send separate One Time Passwords (OTP) also referred as PIN on the mobile and
email provided by the taxpayer. The OTPs have to be entered by the taxpayer after logging into their efiling account to authenticate the same. The OTPs will remain valid for 24 hours within which the
taxpayer has to complete the process. For ‘Foreign/ NRI’ taxpayers, the OTP validation of the email ID
would be sufficient.
Validation of email and mobile numbers has been introduced to facilitate taxpayers as in many cases incorrect emails and mobile numbers have
been provided and taxpayers did not receive important communication from the Department. Further, it has been observed that in many cases
taxpayers are not able to reset their password since the new temporary password from the Department may be sent to their registered email which
may be different from the taxpayer’s personal email, e.g. email of their intermediary.
This is a one-time process to validate the mobile number and email ID. However, whenever the taxpayer changes the Mobile Number or email ID in
their Profile, the process will be repeated to ensure that the particulars provided are correct. Further, this validation will ensure that Department
can send an OTP for resetting the password used for Login in case the taxpayer has forgotten the password.
One mobile number or email ID can be used for a maximum of 10 user accounts as the Primary ContactMobile Number and Email ID in e-Filing. This is to ensure that family members and related business
concerns (not exceeding 10 separate users) not having personal email or mobile can be covered under a
common email or mobile, but in general taxpayers should have their own unique email ID and Mobile
registered with the Department.
O.P. Harlalka & Co. , 12 BBD BAGH (East) ,
Kolkata -700001
12
For new users
13
Provide the correct Mobile Number and Email
ID during the Registration in the e-Filing portal
Activation link would be sent to the registered
E-mail ID and A One Time Password (OTP also called PIN) is
sent to the registered Mobile Number
User needs to Click on the Link provided in
the E-mail and enter the OTP received in the
mobile number for Successful activation
O.P. Harlalka & Co. , 12 BBD BAGH (East) , Kolkata -700001
Exisiting users need to update their contact
details
14
After the
user log in
Upon
submitting
the details
O.P. Harlalka & Co. , 12 BBD BAGH (East) , Kolkata -700001
•They are requested to update the current
PERSONAL Mobile number and PERSONAL
E-mail ID .
•The contacts will be used for all future
communications including reset of password .
•Department would immediately send OTPs
(PIN1 & PIN2) to new mobile number and
Email ID.
•PIN 1 AND PIN 2should be entered by them in
the respective input fields to authenticate that
the email ID and mobile are correct
ITR’s available in the portal
15
O.P. Harlalka & Co. , 12 BBD BAGH (East) , Kolkata -700001
Forms Other than ITR available in the portal
16
O.P. Harlalka & Co. , 12 BBD BAGH (East) , Kolkata -700001
E-filing of Tax Audit Report
17
Go to
https://incometaxi
ndiaefiling.gov.in/
Download and Fill
the form
Otherwise Assessee
can Reject the
Uploaded form
supported by a
reason
Registration of CA
and Assessee by
Clicking
‘Register Yourself’
CA will upload the
form along with BS
& PL a/c in PDF
On rejection, CA
will rectify the
form and upload it
Add CA by
Assessee
Approval by
Assessee
Finally , Assessee
needs to check
‘WORKLIST’
O.P. Harlalka & Co. , 12 BBD BAGH (East) , Kolkata -700001
Mandatorily requirement of DSC
18
Individual,HUF and
Firms also to whom
Audit provision u/s
44AB is applicable
Companies
Trust
O.P. Harlalka & Co. , 12 BBD BAGH (East) , Kolkata -700001
• (Notification 37/2011
dated 01.07.2011)
List of Services
19
List of Services
Tax calculator
O.P. Harlalka & Co. , 12 BBD BAGH (East) , Kolkata -700001
Service – Epayment of Tax
20
O.P. Harlalka & Co. , 12 BBD BAGH (East) , Kolkata -700001
Recent Changes
21
From this year while claiming TDS in Income Tax return facility has
been given to carry forward the TDS of previous year and brought
forward TDS to next year.
As per newly inserted Section 87A if annual income of the
taxpayer is up to Rs. 5,00,000/- then Tax relief of maximum of Rs.
2,000/- is given. For claiming this relief separate space has been
inserted in the return.
Now onwards IT Refund will be issued directly in the bank a/c of the
taxpayer through ECS only, cheques are discontinued. Therefore
at most care should be taken while mentioning Bank Account
Number and IFSC Code in the income tax returns.
O.P. Harlalka & Co. , 12 BBD BAGH (East) , Kolkata -700001
Changes in ITR
22
 As per newly inserted Section 80EE if taxpayer has
purchased house up to Rs. 40 Lakh and taken housing loan
of Rs. 25 Lakh then taxpayer can claim deduction of
interest up to Rs. 1 Lakh. For claiming this deduction
separate space has been inserted in the return.
 Corporate or LLP assessee will have to mention CIN or LLP
Identification Number.
 Further Director or DPIN will have to be mentioned.
O.P. Harlalka & Co. , 12 BBD BAGH (East) , Kolkata -700001
Changes in ITR
23
 Breakup of Incomes chargeable to Income tax at Special rates .
 Details of Income from Outside India and Tax relief
 Summary of tax releif claimed for taxes paid outside India
 Separate schedule for TDS deducted on sale of Immovable
Property u/s 194IA . (Sch TDS3)
 Now TDS can be carried forward or brought forward TDS can be
adjusted in the current year .
 Bifurcation of TDS claimed in own hands and in the hands of
spouse If section 5A is applicable.
 Information regarding apportionment of income between spouses
governed by Portuguese Civil Code.
O.P. Harlalka & Co. , 12 BBD BAGH (East) , Kolkata -700001
Changes in Income from Salaries
24
O.P. Harlalka & Co. , 12 BBD BAGH (East) , Kolkata -700001
Changes under the head House Property
25
O.P. Harlalka & Co. , 12 BBD BAGH (East) , Kolkata -700001
No Account Case
26
 Balance Sheet
 Profit And Loss A/c
O.P. Harlalka & Co. , 12 BBD BAGH (East) , Kolkata -700001
Audit Information
27
Maintenance of Accounts by certain persons carrying on Profession or Business
(Section 44AA)
If his total income from Business or Profession exceeds Rs. 120,000 or his total
turnover in the Business or gross receipts in Profession exceeds Rs. 10,00,000 in
any one of the 3yrs immediately preceding the P.Y. , shall keep and maintain such
books of accounts and other documents as may enable the AO to compute his total
income .
O.P. Harlalka & Co. , 12 BBD BAGH (East) , Kolkata -700001
Quantitative Details
28
Now assessee are required to furnish their stock details under seperate heads like
>Raw Materials
>Finished Products/By-Products
O.P. Harlalka & Co. , 12 BBD BAGH (East) , Kolkata -700001
Schedule IF
29
O.P. Harlalka & Co. , 12 BBD BAGH (East) , Kolkata -700001
Schedule unabsorbed Depreciation
30
O.P. Harlalka & Co. , 12 BBD BAGH (East) , Kolkata -700001
Changes in the ITR under the head Capital Gain
31
Long Term Capital Gain
Short Term Capital Gain
 LTCG @ 10% , 20% are separately
 STCG @ 15% , 30% or at
shown
 On sale of land or building, value of
property as per stamp valuation
authority is required
 LTCG of Resident and Non Resident
assessee are segregated .
Applicable Rate are separately
shown
 On sale of land or building, value of
property as per stamp valuation
authority is required
 STCG on which STT is paid u/s
111A and otherwise are segregated .
 STCG of Non- Residents and
Residents are segregated .
O.P. Harlalka & Co. , 12 BBD BAGH (East) , Kolkata -700001
Bifurcation of C.Y. Losses under CG
32
O.P. Harlalka & Co. , 12 BBD BAGH (East) , Kolkata -700001
SchTDS 3 for sec 194IA
33
O.P. Harlalka & Co. , 12 BBD BAGH (East) , Kolkata -700001
Deduction under CG
34
Pan No. Required for deduction u/s 54GB
O.P. Harlalka & Co. , 12 BBD BAGH (East) , Kolkata -700001
Bifurcation Of Sch- Chpt VIA
35
O.P. Harlalka & Co. , 12 BBD BAGH (East) , Kolkata -700001
Bifurcation Of Sch- Chpt VIA
36
Schedule of deduction under chapter VIA is sub-divided in respect of income and
payment
O.P. Harlalka & Co. , 12 BBD BAGH (East) , Kolkata -700001
Schedule 80G
37
O.P. Harlalka & Co. , 12 BBD BAGH (East) , Kolkata -700001
Income Chargeable at Special Rates
38
O.P. Harlalka & Co. , 12 BBD BAGH (East) , Kolkata -700001
Schedule For BFLA
39
O.P. Harlalka & Co. , 12 BBD BAGH (East) , Kolkata -700001
Schedule AL
40
Applicable in a case where total income exceeds Rs. 25 Lakh
O.P. Harlalka & Co. , 12 BBD BAGH (East) , Kolkata -700001
Tax Holiday
41
Income under each Undertaking shall be mentioned separately
O.P. Harlalka & Co. , 12 BBD BAGH (East) , Kolkata -700001
Summary of Tax Relief Claimed Outside India
42
O.P. Harlalka & Co. , 12 BBD BAGH (East) , Kolkata -700001
Details of Income From Outside India
43
O.P. Harlalka & Co. , 12 BBD BAGH (East) , Kolkata -700001
Schedule FA
44
O.P. Harlalka & Co. , 12 BBD BAGH (East) , Kolkata -700001
ITR 7
45
O.P. Harlalka & Co. , 12 BBD BAGH (East) , Kolkata -700001
ITR 7
46
O.P. Harlalka & Co. , 12 BBD BAGH (East) , Kolkata -700001
Portuguese Civil Code
47
 5A. Apportionment of income between spouses governed by Portuguese
Civil Code
Where the husband and wife are governed by the system of community of
property (known under the Portuguese Civil Code of 1860 as"
COMMUNIAO DOS BENS") in force in the State of Goa and in the Union
territories of Dadra and Nagar Haveli and Daman and Diu, the income of
the husband and of the wife under any head of income shall not be assessed
as that of such community of property (whether treated as an association of
persons or a body of individuals), but such income of the husband and of
the wife under each head of income (other than under the head" Salaries")
shall be apportioned equally between the husband and the wife and the
income so apportioned shall be included separately in the total income of
the husband and of the wife respectively, and the remaining provisions of
this Act shall apply accordingly.
 Where the husband or, as the case may be, the wife governed by the
aforesaid system of community of property has any income under the head
O.P. Harlalka & Co. , 12 BBD BAGH (East) , Kolkata -700001
CONSEQUENCES OF LATE FILING
48
Penalty of Rs. 5000/- under
Section 271F;
Penal Interest @ 1% per month
under Section 234A;
Losses cannot be carried forward except Losses from House proprerty and unabsorbed
depreciation .
Deductions under Section 10A,10B, 80-IA, 80-IB etc. are not allowed
O.P. Harlalka & Co. , 12 BBD BAGH (East) , Kolkata -700001
49
O.P. Harlalka & Co. , 12 BBD BAGH (East) , Kolkata -700001