|
|
ASSISTANCE FOR FILING INCOME TAX RETURN
A person who has to file income tax returns ,  can file using e-filing portal of the income tax department . ( Read the next paragraph to know who has to file the IT returns ) . In case you are unable to file income tax returns directly on the e-filing portal , you may use the services of a chartered accountants or ERIsÂ
CHARTEREDÂ ACCOUNTANTSÂ :Â
A 'Chartered Accountant' (CA) is a person who is a member of the Institute of Chartered Accountants of India (ICAI) constituted under the Chartered Accountants Act, 1949 (38 of 1949).Â
ERI :Â
e-Return intermediaries (ERIs) are authorized intermediaries who can file income-tax returns (ITR) and perform other functions on the behalf of taxpayers.  There are three types of e-Return Intermediaries:
Type 1 ERIs:Â File Income Tax Returns / Forms using Income Tax Department utility / Income Tax Department approved utilities through e-filing portal.
Type 2 ERIs: Create their own software application/portal to file Income Tax Returns / Forms on the e-Filing portal through Application Programming Interface provided by Income Tax Department
Type 3 ERIs: Develop their own offline software utilities instead of using Income Tax Department utility available on the e-Filing portal to enable the users to file Income Tax Returns / Forms. Â
AUTHORIZED REPRESENTATIVESÂ
Further if  one is unable to file income tax returns for the following reasons , one can appoint another person as authorized representative to file  income tax returns in the following circumstances :Â
 1. Legal heir will be authorized representative for the DeceasedÂ
 2. Guardian / Manager who is managing the affair will be authorized representative for the Lunatic or idiotÂ
 3.  Guardian / Manager who is managing the affair will be authorized representative for the mentally incapitatedÂ
 4. Guardian   will be authorized representative for the minorsÂ
 5. A Resident can be authorized representative for the Non-residents Â
​To read Income tax department's  guide on the subject , CLICK HEREÂ
CHARTEREDÂ ACCOUNTANTSÂ :Â
A 'Chartered Accountant' (CA) is a person who is a member of the Institute of Chartered Accountants of India (ICAI) constituted under the Chartered Accountants Act, 1949 (38 of 1949).Â
ERI :Â
e-Return intermediaries (ERIs) are authorized intermediaries who can file income-tax returns (ITR) and perform other functions on the behalf of taxpayers.  There are three types of e-Return Intermediaries:
Type 1 ERIs:Â File Income Tax Returns / Forms using Income Tax Department utility / Income Tax Department approved utilities through e-filing portal.
Type 2 ERIs: Create their own software application/portal to file Income Tax Returns / Forms on the e-Filing portal through Application Programming Interface provided by Income Tax Department
Type 3 ERIs: Develop their own offline software utilities instead of using Income Tax Department utility available on the e-Filing portal to enable the users to file Income Tax Returns / Forms. Â
AUTHORIZED REPRESENTATIVESÂ
Further if  one is unable to file income tax returns for the following reasons , one can appoint another person as authorized representative to file  income tax returns in the following circumstances :Â
 1. Legal heir will be authorized representative for the DeceasedÂ
 2. Guardian / Manager who is managing the affair will be authorized representative for the Lunatic or idiotÂ
 3.  Guardian / Manager who is managing the affair will be authorized representative for the mentally incapitatedÂ
 4. Guardian   will be authorized representative for the minorsÂ
 5. A Resident can be authorized representative for the Non-residents Â
​To read Income tax department's  guide on the subject , CLICK HEREÂ
WHO HAS TO FILE IT RETURNS ?
Every individual or Hindu Undivided Family ( HUF ) is obliged to submit Income Tax returns if they meet following criterion .Â
1. Income exceeding Rs 2,50,000 in case of individuals below 60 yearsÂ
2. Income exceeding Rs 3,00,000 in case of individuals above 60 years and below 80 yearsÂ
3. Income exceeding Rs 5,00,000 in case of individuals above 80 years Â
Note : Income means total income in the financial year 2023-24 before allowing deductions under chapter VI -A of Income tax act . Â
Further you have to submit your IT Return  if you  haveÂ
1. expended more than Rs. 2 lakh on foreign travel or
2. paid more than Rs. 1 lakh on electricity consumption in a yearÂ
3. deposited more than Rs. 1 crore  in a current account in a year, Â
even if your income is less than the threshold limit . Â
​
Note : 1. If  TDS / TCS has been collected from your account , you have to file your IT Returns to claim refund , even when you are not taxable for the year . If TDS or TCS collected is more than Rs 25,000 ( Rs 50,000 for the senior citizens ) , submission of IT Returns is mandatory .Â
2. If your income exceeds basic exemption limit , you have to submit your IT Returns even though you are not liable for any income tax . For example your income is below Rs 7.00 lakhs and you are not liable to pay tax on the basis of section 87A
3. You have filed your audit report , but not filed  your IT Returns . You have to complete the process by filing the returns .Â
4. If you hold any asset outside India or beneficiary of any asset outside India or a signing authority for an account outside India , you have to submit IT Returns if you are a resident Indian .Â
1. Income exceeding Rs 2,50,000 in case of individuals below 60 yearsÂ
2. Income exceeding Rs 3,00,000 in case of individuals above 60 years and below 80 yearsÂ
3. Income exceeding Rs 5,00,000 in case of individuals above 80 years Â
Note : Income means total income in the financial year 2023-24 before allowing deductions under chapter VI -A of Income tax act . Â
Further you have to submit your IT Return  if you  haveÂ
1. expended more than Rs. 2 lakh on foreign travel or
2. paid more than Rs. 1 lakh on electricity consumption in a yearÂ
3. deposited more than Rs. 1 crore  in a current account in a year, Â
even if your income is less than the threshold limit . Â
​
Note : 1. If  TDS / TCS has been collected from your account , you have to file your IT Returns to claim refund , even when you are not taxable for the year . If TDS or TCS collected is more than Rs 25,000 ( Rs 50,000 for the senior citizens ) , submission of IT Returns is mandatory .Â
2. If your income exceeds basic exemption limit , you have to submit your IT Returns even though you are not liable for any income tax . For example your income is below Rs 7.00 lakhs and you are not liable to pay tax on the basis of section 87A
3. You have filed your audit report , but not filed  your IT Returns . You have to complete the process by filing the returns .Â
4. If you hold any asset outside India or beneficiary of any asset outside India or a signing authority for an account outside India , you have to submit IT Returns if you are a resident Indian .Â
Income tax Return Filing with the help of chartered accountants
Some of the services that a CA can assist with through e-Filing portal are:
- File Statutory Forms (once the person is added as a CA by the taxpayer and has has accepted the request)
- e-Verify the forms assigned by taxpayer
- Upload bulk form (Form 15CB)
- View filed Statutory Forms
- View & Submit GrievancesÂ
- Set higher security Login options through Profile
- Register DSC
Filing Income Tax returns through ERIs
Type 1 and Type 2 ERIs can execute the following services on behalf of their client:
- File Returns & Statutory FormsÂ
- Add Client (Registered & Unregistered Users)Â
- Activate Client
- Extend Client ValidityÂ
- Extend Service ValidityÂ
- Add ServiceÂ
- Condonation Request for delay in submission of ITR-VÂ
- Add Authorized RepresentativeÂ
- Authorize another person to act on behalf of selfÂ
- Register as representative AssesseÂ
- Register to act on behalf of other personÂ
- File Income tax formsÂ
- Refund re-issue requestÂ
- Rectification requestÂ
- Condonation request for filing ITR after time barredÂ
- Update Primary Contact details as per Bank Account verified contact detailsÂ
- Update Primary Contact details as per Demat Account verified contact details
 HOW TO AUTHORIZE CA  TO ACT ON YOUR BEHALF ?Â
1. Step 1: Log in to the e-Filing portal using user ID and password Â
2. Step 2: Click Authorized Partners > My Chartered Accountant(s).
3. Step 3: The My Chartered Accountant(s) page appears. It displays the active and inactive CAs under the respective tabs.
​4. Step 4: Enter name in the Search by Name textbox to view all matching records.Â
5. Step 5: Click View Assigned Forms to display the status and details of all forms assigned to a specific CA.Â
How to add CAÂ ?Â
Step 1: For assigning forms to a CA, the CA must be added and authorized by you in your profile. If you want to add a CA, click Add CA.
Step 2: The Add Chartered Accountant(s)(CA) page appears. Enter the Membership Number of the CA. The CA name is filled automatically from the database.  CA will be required to accept the request, after which you can assign the form to the CA.
Step 3: Select the validity period for the CA and click Add.Â
Step 4: Click Confirm to add the CA.
How to assign Forms to CA ?Â
Step 1: On the My Chartered Accountant(s) page, click Assign Form(s) against the required CA under the Active tab
Step 2: Click Add Form on the Assign Form(s) page.  You can assign any form to a CA only after he / she accepts your request to add CA on the e-Filing portal.Â
Step 3: Select the required Form Name, Assessment Year and Filing Type and click Add.Â
Step 4: The Assign Form(s) page will appear with the selected form added. Review the information displayed and click Submit.Â
For further guidance , continue with IT department's  guideÂ
1. Step 1: Log in to the e-Filing portal using user ID and password Â
2. Step 2: Click Authorized Partners > My Chartered Accountant(s).
3. Step 3: The My Chartered Accountant(s) page appears. It displays the active and inactive CAs under the respective tabs.
​4. Step 4: Enter name in the Search by Name textbox to view all matching records.Â
5. Step 5: Click View Assigned Forms to display the status and details of all forms assigned to a specific CA.Â
How to add CAÂ ?Â
Step 1: For assigning forms to a CA, the CA must be added and authorized by you in your profile. If you want to add a CA, click Add CA.
Step 2: The Add Chartered Accountant(s)(CA) page appears. Enter the Membership Number of the CA. The CA name is filled automatically from the database.  CA will be required to accept the request, after which you can assign the form to the CA.
Step 3: Select the validity period for the CA and click Add.Â
Step 4: Click Confirm to add the CA.
How to assign Forms to CA ?Â
Step 1: On the My Chartered Accountant(s) page, click Assign Form(s) against the required CA under the Active tab
Step 2: Click Add Form on the Assign Form(s) page.  You can assign any form to a CA only after he / she accepts your request to add CA on the e-Filing portal.Â
Step 3: Select the required Form Name, Assessment Year and Filing Type and click Add.Â
Step 4: The Assign Form(s) page will appear with the selected form added. Review the information displayed and click Submit.Â
For further guidance , continue with IT department's  guideÂ
HOWÂ TO AUTHORIZEÂ ERIÂ Â TO ACT ON YOUR BEHALF ?Â
1. Step 1: Log in to the e-Filing portal using user ID and password Â
2. Step 2: Click Authorized Partners > My e-Return Intermediary (ERI)
3. Step 3: Then   "My e-Return Intermediary (ERI) " page appears. It displays the active and inactive ERI under the respective tabs.
​4. Step 4: Enter name in the Search by Name textbox to view all matching records.Â
5. Step 5: Click View Assigned Forms to display the status and details of all forms assigned to a specific ERIÂ
​For the list of approved ERIs , CLICK HEREÂ
1. Step 1: Log in to the e-Filing portal using user ID and password Â
2. Step 2: Click Authorized Partners > My e-Return Intermediary (ERI)
3. Step 3: Then   "My e-Return Intermediary (ERI) " page appears. It displays the active and inactive ERI under the respective tabs.
​4. Step 4: Enter name in the Search by Name textbox to view all matching records.Â
5. Step 5: Click View Assigned Forms to display the status and details of all forms assigned to a specific ERIÂ
​For the list of approved ERIs , CLICK HEREÂ
Portals that assist Income tax return Filing
There are  various  portals services under  ERIs category which can be used to file IT Returns .Â
1. https://www.incometax.gov.in/iec/foportal/  ​The first and foremost  website of income tax department of government of India . The website is authentic , official and absolutely free of charge   .  Website also  supplies pre-filled forms which can be used for filing the returnsÂ
2.  https://cleartax.in/  : The website facilitates  submission of ITRs ITR1 , ITR2 , ITR3 & ITR4  . The services are chargeable .Â
​
​3. https://tax2win.in/  : Self filing on the website may attract fees and assisted filing starts with a price of Rs 899 + taxÂ
​
4. https://myitreturn.com/ : The  assisted services for Income tax return filing starts  with of fee Rs 199 + tax onward .  Â
5. https://eztax.in/  : Services on the website starts from Rs 999 + taxÂ
6 . https://www.taxspanner.com/  :  The fee starts from Rs 499 onward .Â
7.  https://www.indiafilings.com/learn/file-income-tax-return/   : The fee  starts from Rs 2,899 .Â
Many of the websites boast of fast and reliable submission .Â
We have not independently verified   the quality ,  efficiency and data security of such  private websites  .Â
​
1. https://www.incometax.gov.in/iec/foportal/  ​The first and foremost  website of income tax department of government of India . The website is authentic , official and absolutely free of charge   .  Website also  supplies pre-filled forms which can be used for filing the returnsÂ
2.  https://cleartax.in/  : The website facilitates  submission of ITRs ITR1 , ITR2 , ITR3 & ITR4  . The services are chargeable .Â
​
​3. https://tax2win.in/  : Self filing on the website may attract fees and assisted filing starts with a price of Rs 899 + taxÂ
​
4. https://myitreturn.com/ : The  assisted services for Income tax return filing starts  with of fee Rs 199 + tax onward .  Â
5. https://eztax.in/  : Services on the website starts from Rs 999 + taxÂ
6 . https://www.taxspanner.com/  :  The fee starts from Rs 499 onward .Â
7.  https://www.indiafilings.com/learn/file-income-tax-return/   : The fee  starts from Rs 2,899 .Â
Many of the websites boast of fast and reliable submission .Â
We have not independently verified   the quality ,  efficiency and data security of such  private websites  .Â
​
When to file Income Tax returns for AY 2024-25 ?
  Income tax returns Due Dates for AY 2024-25 :Â
 Income tax Returns are to be filed on or  before 31st , July 2024  by  all assessee other than
(a) corporate-assessee or
(b) non-corporate assessee (whose books of account are required to be audited) or
(c) partner of a firm whose accounts are required to be audited or the spouse of such partner if the provisions of section 5A applies or (d) an assessee who is required to furnish a report under section 92E.​
​​Due date for filing of return of income for the assessment year 2024-25  is 31st, October 2024 Â
​ if the assessee (not having any international or specified domestic transaction) is
(a) corporate-assessee or
(b) non-corporate assessee (whose books of account are required to be audited) or
(c)partner of a firm whose accounts are required to be audited or the spouse of such partner if the provisions of section 5A apply​
 Income tax Returns are to be filed on or  before 31st , July 2024  by  all assessee other than
(a) corporate-assessee or
(b) non-corporate assessee (whose books of account are required to be audited) or
(c) partner of a firm whose accounts are required to be audited or the spouse of such partner if the provisions of section 5A applies or (d) an assessee who is required to furnish a report under section 92E.​
​​Due date for filing of return of income for the assessment year 2024-25  is 31st, October 2024 Â
​ if the assessee (not having any international or specified domestic transaction) is
(a) corporate-assessee or
(b) non-corporate assessee (whose books of account are required to be audited) or
(c)partner of a firm whose accounts are required to be audited or the spouse of such partner if the provisions of section 5A apply​
​TAX PLANNING FOR FY 2023-24 ( AY 2024-25 )Â
Comprehensive  Article on Income tax changes in Rules, Rates , Slabs , Rebates  and EstimationÂ
CLICK HERE TO READ ​
Comprehensive  Article on Income tax changes in Rules, Rates , Slabs , Rebates  and EstimationÂ
CLICK HERE TO READ ​
FOR READING ARTICLE  TAX ON RETIREMENT BENEFITS , CLICK HEREÂ
PRECAUTIONS TO BE TAKEN WHILE INVESTING STOCK MARKETS , CLICK HEREÂ
FINANCIAL PLANNING FOR YOUNG  , CLICK HERE ​ HOW TO LINK AADHAR WITH PAN ?  CLICK HEREÂ
PRECAUTIONS TO BE TAKEN WHILE INVESTING STOCK MARKETS , CLICK HEREÂ
FINANCIAL PLANNING FOR YOUNG  , CLICK HERE ​ HOW TO LINK AADHAR WITH PAN ?  CLICK HEREÂ
E-VERIFICATION Â OF Â RETURNS FILED THROUGH E -FILING
 Submission of IT Return is not complete without verifying the same . For various ways of verification  , CLICK HEREÂ
FOR READING ARTICLE Â TAX ON RETIREMENT BENEFITS , CLICK HEREÂ
PRECAUTIONS TO BE TAKEN WHILE INVESTING STOCK MARKETS , CLICK HEREÂ
FINANCIAL PLANNING FOR YOUNG, CLICK HEREÂ
We  value your opinions , comments  and  suggestions. We shall be happy to your feedback on the contents of the  Article . For  Feedback form , CLICK HERE
THIS ARTICLE CARRIES INFORMATION ON VARIOUS TAX  PROVISIONS  WHICH ARE GENERALLY  USEFUL .YET IT DOES NOT CARRY ALL THE PROVISIONS  AND HENCE YOU ARE  ADVISED TO GO THROUGH INCOME TAX DEPARTMENT WEBSITES  FOR AUTHENTIC COMPLETE INFORMATION . ESPECIALLY  THOSE WHO HAVE GOT MULTIPLE STREAMS OF INCOME OR COMPLEX INVESTMENTS  MAY  CONSULT A QUALIFIED TAX CONSULTANT / CHARTERED  ACCOUNTANT  FOR ANY CLARIFICATION. READERS ARE ALSO WELCOME TO SEND FEEDBACK  . YOU CAN  DOWNLOAD THE FORM HERE . WE ARE OPEN FOR CORRECTION  IF  NEEDEDÂ
 .Â
 .Â