ITR – Income Tax Returns e-filing – Which ITR Should I File?
Then if it is actually from IT Dept then can raise issue. Because in my case my AO still be of my native. It is under process now. I have not e-verified this return yet. How to file GST Returns?
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The process of generating EVC by using the official website of Income tax returns. To be eligible to generate through the official website, an individual must have to ensure their ITR is less than Rs. If one is eligible, they may proceed to the next step which is to register and login to the official website of Income Tax returns.
Then an individual will get their EVC on their registered mobile number and email address. One can verify ITR by using Aadhar card.
Firstly, one has to link their Aadhar card in the Income Tax website and then they have to register their PAN Number on the very website. After one has verified their Aadhar card, they will receive an OTP on their registered mobile number. If an individual is not able to do any of the mentioned processes above, they will have to make sure they obtain the physical copy of ITR-V.
The earlier option of sending the physical copy to Bangalore is still available but an individual will need to send it in days from the e-fling date.
It is recommended for an individual to do this process using the online method because there might be certain problems with postal issues and the verification process can be hampered. Firstly, an individual has to upload the entire document regarding E-verification of ITR. Then an individual will be able to login to the Income Tax official Website of E-filling. Then the individual has to click on the e-file button to gain access to the e-verify return option.
After clicking the e-verify option, an individual will be able to see the list of documents which are uploaded and unverified till then in a table format. An individual can click on e-verify to verify the returns they wish.
After an individual has clicked the e-verify option, they will be provided with certain options and below there is a table to provide the names of the options and thorough information about them. Utilization of Aadhar Number for E-verification of Income Tax return is only available if an individual had already registered their mobile number with Aadhar.
Aadhar is a very essential option currently for the people of India as the government is depending more and more on Aadhar system and it has been welcomed thoroughly.
The Aadhar number will only be linked with the PAN if the date of birth and the gender provided on both the documents is same. For Utilization of Aadhar Number for E-verification of Income Tax return, one will have to login to the official website of IT and there one will see a pop-up which will ask them to link their Aadhar number with E-filling account. One will have the flexibility to link them at the very time they browse the website or one will be able to link the Aadhar number later.
If an individual wishes to link their Aadhar number with e-filling account, they will have to provide generic information like their date of birth and gender. An individual will need to fill out the details as per their PAN card.
Then they will be asked to enter their Aadhar number carefully and it is necessary that the other number is linked with PAN. After that, an individual will be obliged to enter the OTP which was sent to their mobile earlier.
An OTP is valid only for 10 months, so an individual must be careful about this. If an individual choses the option of linking the Aadhar number later, they would not be eligible to generate their EVC then. If anybody wishes to link their Aadhar number later, they would be obliged to go to their profile and then select the option of linking the Aadhar number with e-filling. Nevertheless, an individual will be eligible to submit their e-verification return if their Aadhar number is linked with PAN.
Now what should I do to rectify my mistake as I have to make the payment through Self Assessment tax of the amount which I have received in my refund or what. I filed my original returns and also completed everification. Later realised that I have missed to update the housing loan details due to which my status changed to Tax payable.
Tried to file a revised return: Income details tab is updated with the housing loan but unable to select Revised from the drop down in filing status field with error: Update to income details cannot be revised under section 5. I did not realise this that time. When I tried filing ITR again on I paid some tax amount through net banking also and got the BSR details.
Please guide how can I correct this error. I am unable to understand the excel file concept mentioned above. I had directly filled the details on income tax Website. Hi, I have filed ITR 1 online and provided all correct details in tax information page. My Form 16 has gross total income as , whille filing returns under the TDS income chargeable under the head salaries its showing the gross salary as Is there any provision for HRA while e-filing?
Will it be problem? Sharath-1 You have to leave the days for which your employer not provided HRA and for rest of the period consider the HRA and calculate it partly. Sharath-1 Please follow the HRA deductions availability calculation and follow as it is. Plain deduction is not possible. I have followed with my details but this giving me mismatched details error. So i am stuck what to do.
But, on the same day, I corrected the mistakes and did the Revised filing. And also did the e-verification successfully.
Will the revised Filing gets ITR processed status in this case? Please let me know. I have received intimated vide I have not taken hra exemption while filing the return. I sold some of these shares in F. What should I do? Can I revise my return? Hi, I am salaried employee and selected form is ITR1. If yes, then should i mention gross salary or salary after HRA deduction? I have tried to contact my employer but they are not responding my email.
Please suggest what should i do in this case? Only receipt by them is updated. Hi Basu, I filed my return online today, i. How do I correct this ommission. Can I immediately revise the return by using the rectification option. I have not sent ITR V yet. HOw do I correct it? I have only submitted the form online not the Excel utility.
My company has provided me with FORM The income shown in the form is aroung 6. According to them tax payable is But this was calculated in january and after that i made another saving under 80C of 20, What shuld I do: Vijay-Check the difference of amount mentioned in Form 16 and Gross Salary.
If it is correct then go ahead. Though I was expecting hand some amount of refund, but Income Tax Deptt. I got it corrected and rectification was submitted to the department,but the same communication has been repeated despite of rectification.
Sir, I have filed itr1 but i found some mistakes in original return. So i filed revised return. Now i have verify revised retun. Should i verify original retun also. Hi, In some answers you have mentioned that we need to e-verify both original and revised return and in some you have mentioned to e-verify only revised.
Can you please confirm which one to follow. Do we need to e-verify both or only revised one. I have filled my IT returns but its is a wrong one I filled it. How to do it? Salim-Please follow this e-Tax Payment System.
I HV only uploaded itr 4 but still not e verified this. Joan-I am unable to understanding about what you are saying. If it is not for individual then I am unable to help you. I filed my ITR with form no 16 got from my past company but i have one more form no 16 from my current company for the same financial year.
Then I combined both form no 16 outside and I came to know that I have to pay tax too. As acknowledgement is already generated with one form no 16 how can I update my main ITR with another form 16 details?
It was because that the i updated gross total income as the Income chargeable under the Head salaries, is it correct or not. In the TDS we have the different amount and there was mismatch coming, what i did is i changed the TDS amount to the one which i have updated as gross total income then i was able t file the IT.
The message that u got is a warning. This is validation for you to double check in case u hv missed any calculation. It has been seen that the Salary so calculated by the employer for the FY is wrongly computed because of the addition of some extra component Third party lease accommodation which in no case must be included in the Individual salary.
Now the problem is that the return for the FY AY was already filed on the basis of FORM, where salary was calculated wronlgy and therefore extra tax was deducted in the shape of TDS. It is requested to please advise under which section of IT the revised return should be filed for claiming the refund of extra tax deducted and also what is the last date for filing revised return in this case for FY I filed the return for AY on time and there is some refund amount.
What is process to file revise return and what documents need to be submitted to AO. As per your advice previously told I have reverified the return but i found the following observation.
In Form provided by my company shows the gross salary same as Rs. I got confirmation email from Income Tax Department that my e-filling of Income Tax Return has been successfully submitted. But, ITR-V pdf attached in that email has some fields blank on it. Most importantly, in the last part of that pdf, bar-code is missing.
So, I downloaded from there. Anyway, thank you for the quick reply. Hi yestarday i have got my form 16 from my employee and i found that my pan was incorrect in that. As this is the first time i am going to fill the return i am not sure what to do in this case.
Hi I filed my income tax return form 2a online today. I have got form V available which I have not sent to CPC bangalore and also I have not carried out e-verify online for the same a new feature i guess from this year. I realized that I have shown by mistake less interest income received in my return then in form 26as.
I want to revise my return and have understood the above procedure except following points, which may be please be clarified. Since I have not done e- verification online for original return, should I ignore it and revise my return online and e-verify for the only? Should I send both form V Original and revised or only revised? I have filled my IT return for 6 months and paid tax also. Now I want to fill my anther 6 month IT Return.
Should I fill revised return? In both 6 month I have different company. I have made a mistake in e filing. This is the first I did and somehow forgot to enter amount in 80c row and submitted it. I am unable to correct that, but I am allowed to enter a fresh one.
Can this be done? This 2 Lakhs bring the difference between the salary and Gross Total Income. Whether this will create any problem for me.
I have submitted my revised one already. Just need to sent in the post. Gross income or net income not matters to IT. But how much taxable income you have is the most important point. If you not file the income tax return then you are liable for penalty under different sections fo IT Act. Now I realized the mistake is found.
It is under process now. Had I filed ITR-2, this may not have happened. Now after a lapse of 15 months, we noticed that the total income gets increased to 9. Due to unaware of and non-receipt of first half year Form in time the salary particulars are not taken into account.
Online website was asking ACK No. The website not accepting this 15 digits receipt no. I am just providing an option but not sure whether this works out or not. Is Offline means manual submission? Please guide me to initiate further. Ganapathy-It is hard for me to guide you in step by step way. Hence, I suggest you to consult any tax consultant of your area. They may help you. I had applied for ITR V for , and , with in the time limit in manual approach, but till now i didnot get my returns.
I have one query. What step i should do now how to generate a new xml file for uploading please help me sir. I have tried to rectify the same as mentioned in that. Procedure to file a corrected XML in response to defective notice: But when I gave Acknowledgement number there is no result found. Last year I have filed the return and I got it. But for i. Tax determined as payable in the return of income filed has not been paid. I have a regular job and have been filing regular income tax returns on time.
I also took out some personal loans against salary earned ,which I deposited in the bank and earn monthly interest. I add some amount to the interest earned and pay regular emi towards the personal loan. Under this circumstance, do I need to declare and pay taxes for interest earned? If yes, is this not double taxation, since I have already paid taxes on my salary and I have used my salary amounts as fixed deposits to earn monthly interests? If I still need to pay taxes on the same, how do I go about in doing the same without incurring any penalties or legal action?
I have not wilfully concealed my income, it was just an ignorant assumption. I should have consulted a tax expert. From your savings of salary, you buy a house. After that, will you argue in the same way like you already paid taxes and now why you have to pay taxes on your home?
It is the interest you earned, which is taxable. Hence, you have to pay it on that interest. Also, I am unable to digest what prompt you to take the personal loan and invest the same in FDs? Then I took a loan against fd which was like 4. However somehow the taxation part got neglected. So here I am to do some damage control. Please let me know what to do now. I am pretty successful in that. I tried making a model to ensure liquidity and long term capital gain with minimum risk.
I started this about 3 years back. But it was foolish of me not to know about the taxation part. I understand that ignorance is no excuse. I took personal loan from icici bank. But that did not answer my question. So how to do I calculate the real return from this transaction? Debashish-Yes, usually co-operative banks are managed few groups which they have some political or social interest I mean many.
Have you checked the management and how they are using your deposited money I mean the bad loans they have. If their bad loan is at higher end then the risk of default will be at higher. I am working in private organization, Last year tax detected from my salary. For the AY , i did not know i had to include fixed deposit interest. Bank deducted TDS on the same. Please let me know if i can rectify this now.
I have booked the flat of above 50lacs on August ,and paid the installment of Rs20,52, after deducting the TDS amount Rs20, Whether you shown the transaction in your return?
Why the deposit of TDS delayed for 6 months? Please check out the reason for delay. Gross Income and TDS wrongly mentioned. I got a notice from CPC stating that — 38 Tax determined as Payable in the return filled by you has not been paid..
Kunal-Process can not be explained in commenting. Please take the help of any tax consultant of your area. Myself a salaried employee. Then I contacted my previous company for doing needful action. Please guide me what to do?
During this period I was a salaried Employee in India. One tax consultant has filled my income tax return online today 10th March , I believe he has done mistakes which are described below,. I invested in stocks also and have some capital gain also. I have already filled taxes In US whatever I have earned there.
For this period which ITR form I have to use as I have some bank interest, some stock capital gain and foreign transferred money. I guess, I have to include somewhere in the ITR form otherwise, how IT department will come to know from where these money came.?
Please contact the person who is expert in company matters. I have sent both ITRVs for and and they got received at incometax dept end in this month only. For the stat us field is empty and for the status in Undermined. And it is showing both ITR-V not processed yet.
I have filed a return of the partnership firm A. Please sir suggest what i can do in this situation to rectify my error. Dear Sir, I have wrongly filled advance tax instead of TDS, and income tax department already did assessment of my return. Actually there is a refund in my case but now it is showing balance due. How can i rectify my problem. I mean, since it was the first time. I was not earning anything during FY I got mail from IT dept. How should I respond to this? Do you know anybody in Bangalore who will help in these tax issues at substantial cost and not charge heavily?
Avinash-Substantial cost but cheap? You can contact my friend Mr. Kali and whose number is He may be your right choice. I incude as tax paying. I have already filed tax return for AY with third party person manually. My query is here, Can i file it again through Online incometaxindiaefilling.
Hi, Thanks for reply. Because in my case my AO still be of my native. I am filing it now where I reside. Getting all dues timely. Basavaraj, one more query…not able to file for AY through online.. The AY list box is showing last 3 previous years only from Could you please give me any steps to file income tax return for the AY through online?
Subbu-Better to contact tax expert. I am salaried person. I sold one property Residential Flat in Feb and purchased another in March Per calculation,i have done Long term Capital Loss i. I have missed to show these property transactions in my ITR1. Queries — 1 can i file revised Income tax return? Saurabh-First let me know whether above conditions to file revise IT return applies in your case? I filed my tax before the due date. I got a notice from income tax department to pay rs.
I checked my form16, all the tax was deducted by my company but they had 2 TAN numbers. Now ideally in my case I filed return in a wrong way as I already paid all Tac. Saurabh-I think you need to revise with mentioning both TAN. Whether you received the second TAN Form 16 too? So now how will I again process?
Is it by revised return 5? I received a IT intimation 1 where it mentions that income tax of Rs. I saw the calculations done by IT department and I feel the demand is correct. What I want to know is, if I have to pay the tax online, then I need to use challan as per the following link: Specific questions I have are: Will I need to file a revised ITR after the payment of the demanded tax? Jeevan-No need to file revised ITR. Just pay the demanded amount. But procedure of demand payment, I am not aware about this.
I have wrongly filed Return for A. Santosh-Said provision is wide. But if you have doubt or need to rectify the errors then my suggestion is to contact any tax filing agent of your area. My employer had deducted Rs. It has been observed that some interest calculation around Rs. Now, how can I filled up the form? Will I fill up a revised return or original return? Please help me…and guide me the steps….
I got information from customer that they generated TDS for the same year now with Rs. I am working with MNC and i have Form But i got to know i have filled wrong value at Net Taxable amount due to this i am getting some amount as Tax payable section but i have already paid the Tax.
Please guide me how to correct the Net taxable amount so my Tax payable should be Zero. Manish-If you are eligible to file the revised income as per above conditions then you can rectify that error. For the Financial year , due to less TDS deduction than required, i had to pay tax amount of Rs though challan. On July night, i tried to pay this challan through SBI, but the challan generation time was over for the day and the challan got generated on Aug only.
Later when i checked, 26AS shows the challan details correctly. Will the IT department automatically consider this late challan for assessment? If yes, should i use 5 as the section? Will there be any issues if i do not file a revised ITR at all? The challan amount included the applicable late payment fee to be paid as on 31st July, since i missed the 31st March deadline.
So will there be any issue other than minor increase in the late payment fee , due to the the fact that the challan was generated only on Aug? Also when the challan details are already reflecting properly then why to file revised income tax return? For your information this year last date to file the IT return was extended till 5th August my assumption. So your return filing and payment of tax fits within that date.
Hence no need to worry. However later on I found that Muthoot Finance inadvertantly shown one duplicate credit entry of Rs. Anshuman-How you will show Muthoot mistake? Let first Muthooot Finance correct the entry which will show in your 26AS then only you can revise it.
In your case Muthoot is a responsible entity which can correct it of what they did wrong. Hello Sir, I am a salaried person.
I have already filed ITR-1 for A. However, in my return, I had forgot to mention the interest paid towards my educational loan which would have qualified as a deduction under section 80E. Now, I plan to file a revised ITR-1 with the necessary details.
My question is whether I need to submit a proof of the interest paid toward my loan, alongwith the signed ITR-1 form , in order to claim a refund? Or, do I simply need to submit the return? Thanks in advance for your help. The blog is very informative indeed!! Thank you sir for your prompt reply. Or can I simply send the revised ITR? My priginal return was submitted online on 30th July, Addtinally, how can i search the AO name or address, with whom if required i did to communicate on this.
I can then of course get consult a tax expert in my area in filing the rectification request. I have a query. I am salaried professional and have filed my ITR but I still have taxes due which need to be paid to the Govt. How do I resolve this. Will be grateful for your advise. I filed return on time. But found that my name, surname and middlename is not in proper order. Can I file a revise return? Because usually you will be tracked through PAN card. Can revised return be filled twice?
I had filled revised return in case of wrong address mentioned. Now I notice that my account number is also incorrect. Can I revise my return again? Now the question is that both returns are filed after due date ao would it work for me?
Hi I am facing same kind of issue. For income for salary I provided form 16 and for income from profession i provided advance tax receipt to consultancy.
Problem is that the files ITR-1 and not mentioned income from profession. Can I revised filed ITR now. While filling returns for last year FY I gave Assessment year as instead of due to which in returns they mentioned me to pay tax due to mismatch. Please let me know what I need to do now.
Ram-Reply them with your error if possible find your eligibility for revise then go ahead accordingly. Ram-If any due tax then you need to pay. If you not pay then you will face problems.
TDS of employer is different but actual tax if pending then you need to pay. I have been working from home for a foreign company since January on a monthly consulting fee that they credit directly into my saving account with no deductions since they are not setup in India. Prior to working for this company, I was employed in a Mumbai based company till January and I have already received form 16 and other relevant docs from this Mumbai based company.
My question is, which form do I need to use now because from January onwards my income is from foreign company on which no deduction has been made and under which head this income will be shown.
I would also like to know which form I will be using and under which head this income will be shown next year since my income for the entire year will be from this foreign entity only. I think it cannot be regarded as salary because they cannot make standard deductions since they are foreign based and are not set up in India? Dipesh-How you can show that under Income from other source? You need to show under professional income only. Yes you can do so next year. But for this year my suggestion is to show both salary and professional income by using ITR4.
However, now I realized that I have forgotten to show the interest accrued in one of my recurring deposit in the original return. While filling it online, the tool is automatically calculating the interest, though the field is editable I can make it zero? Should I go ahead with making it zero manually or should I pay the additional tax along with interest?
Do i need to fill Revised return. I mentioned in the Profit and loss statement a net income of rs. Now when i recv the notice under section 1 it shows net income as 3,60, and shows tax payable with interest. Hi I am a combatant member of defence forces Air Force. Till now my earlier refundable Amt is not credited to my account. I entered the address correctly but made mistake in entering the PIN code. I have sent revised ITR. I did not send original.
Please help me regarding this what i should do next. Can you please guide what to do? I filled my return on 3rd August this year but I forgot to add income from my fixed deposit.
Can I file revised return as the original return is late return? Also, what are the other options. Prashant-Last date for filing return extended to till August 5th. So your IT return considered as within due date. Hence go ahead and revise it. Sir while i am a salaried individual with more than 6 lakhs annual income but less than 10 lakhs. While filing the return I did 2 mistakes in address. I checked the ITR-V and found the 2 mistakes. How to rectify these two mistakes.
But decision is left with you. Do I need to send verification of original ITR duly signed, to the Bangalore office wherein the mistakes were made before filing the revised return or is it okay to send only the signed copy of the revised return. I filed my return after due date …. My CA says you cannot file revised return…Is it true??
Please suggest what to do? While filing my ITR I forgot to include income from consultancy and it is a good amount… can I file revised return …. Sir i filled my gross income by mistake less but tex deduct right now i am trying to e filling but system donot accept. I recently got intimation by IT saying to pay some amount.
But I already mistakenly paid more than the require amount when I filed the assessment for yr and also I forgot to send the acknowledgement copy. Why you should file belated ITR before December Ballistic missile test-fired from ITR at Chandipur. Should I pay tax on mutual fund gains while filing ITR? Choose your reason below and click on the Report button. This will alert our moderators to take action. Get instant notifications from Economic Times Allow Not now You can switch off notifications anytime using browser settings.
NIFTY 50 10, Drag according to your convenience. As these are considered non-speculative business gains, income tax is levied according to the applicable tax slab rates. Normal system of computation: Normal system of taxation This can be explained with an example. During , Mr A traded in Nifty many times. His purchases were worth Rs 70 lakh and sales worth Rs 80 lakh. On the face of it, the income of Mr A would be: Rs 15, The total expenses were Rs 2. So, the total income of Mr A from the trading business would be computed as follows:
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