QUESTIONS ON E-FILLING OF TAX AUDIT REPORTS

Q1. What are the steps to be followed for E-filling of Tax Audit Report?

 

Ans. Step 1- One Time Registration of Chartered Accountant at E-filling website

Step 2 – Login to Assessee account at e-filling website and Add CA

Step 3 – Downloading, Preparing Tax Audit Report Utility & Generating XML file.

Step 4 – Uploading XML file at E-filling website from CA’s Login Id

Step 5 – Approval of form uploaded by CA at E-filling website from Assessee’s Login Id

Step 6 – Do not forget to file Income Tax Return in Relevant ITR separately

 

File Income Tax Return without using any software

After incorporating the new facilities on income tax e-filing portal, one can file his/her income tax returns directly on the department website without using any software.
Steps to file Income Tax Returns without using softwares.

2. Click on login option
3. Once you click the login option, you will be asked to provide User ID, password and Date of Birth for login into your account.
4. Once you login into your acount, you will find an option called “e-File” on the menu.
5. Under the “e-file” menu, select the option called “Prepare and Submit online ITR
6. Once you select the above option, the following detailes will be displayed on the screen;
i. PAN No.
ii. ITR form Name: Here you need to select the ITR form applicable to you, as of now two ITR forms are available for efiling (ITR 1 and ITR 4S).
iii. Assessment year: Here you need to select the Assessment year for which you are filing the return.
iv. Address: Here you need to select one of the option out of 3 options( 1. Address from PAN Database, 2. Address from previous year return and 3. New address).
v. Digital Signature: Select “YES” if you want to file your return with digital signature otherwise “NO”
vi. After filling the above details, then click on SUBMIT button.
vii. After clicking the SUBMIT button, the system will take you to ITR form.
7. Once the ITR form got opened then you need to enter your details in the ITR form.
8. Once all the details in the ITR form are filled then you need to click on “SUBMIT” option for filing the return.
Note: 1. While filling the details in the ITR, please DON’T click on BACK button or BACKSPACE . If you click on BACK Space or BACK button, then you will be logged out.
2. After entering the data in each screen of ITR form, please click on “Save’ button to save the data.

 

 

 

Who needs to Mandatorily e-file Income Tax Return AY 2013-14?

CBDT has vide notification No. 34/2013 dated 01.05.2013 has made it mandatory for the following category of the Assesses to file their Income Tax Return Online from A.Y. 2013-14 :-
(a)  It is mandatory for every person (not being a co. or a person filing return in ITR 7) to e-file the return of income if its total income exceeds Rs. 5,00,000
(b) an individual or a Hindu undivided family, being a resident, having assets (including financial interest in any entity) located outside India or signing authority in any account located outside India and required to furnish the return in Form ITR-2 or ITR-3 or ITR-4, as the case may be.
(c)  Every person claiming tax relief under Section 90, 90A or 91 shall file return in electronic mode.
(d) Those who are required to get their Account under Section 44AB

(e) A firm required to furnish the return in Form ITR-5 or an individual or Hindu Undivided Family (HUF) required to furnish the return in Form ITR-4 and to whom provisions of section 44AB are applicable

(f) A company required to furnish the return in Form ITR-6.

Why to file income tax returns before 31st March 2013?

The due date for salaried individuals to file their return for the assessment year 2012-2013 was 31st July 2012. Even if you have not filed return of income by due date, you can still file return up to 31st March of the next financial year. In such a case no penalty will be imposed for not filing the return by due date. E.g. if your due date for filing is 31st July 2012, and you could not file return by the due date, then you can file the return up to 31st March 2013.
All losses are allowed to be carried forward to next year only if the return is filed within due date, except when there is loss under the head house property. If you file your return after assessment year, then penalty of Rs. 5,000 can be imposed.

Service Tax Returns that kept you afraid and away from filing returns

Filing of service tax returns has been one aspect in service tax compliance which has always posed considerable problems for assessees. One of the main reasons being service tax paid not on billing basis but on receipt of consideration from customers. Thus all organizations especially those where transaction are in thousands should have a good accounting system in order to enable them to link the bills with the amounts received. The concept sounds simple but few organizations really implement the same in spirit. As a result, they face considerable problems in filing the service tax returns as one is expected to give details as to the amounts received towards taxable services. The delays in filing entail fines and non filing an enquiry under best judgment.
Every service provider liable to pay service tax is required to submit half yearly return in form ST-3 within 25 days from the end of half year, i.e. April to September 25th October and for October to March 25th April is the due date to file the returns. Even an input service distributor is required to file half year returns, even if he was not liable to pay service tax.
In case last date to file the return was a public holiday then the last day to file the returns would be the next working date.