A

Project

Report On

“A study of Process of E-Filing and Investment pattern of individual

assessee”

At

CA A. M. Jain charter accountant

Submitted to Savitribai Phule Pune University

In Partial Fulfillment of Requirement for the Award of Degree of

Master of Business Administration (M.B.A)

Submitted By

Mr. Manish Baviskar

Under the guidance of

Prof. Shantilal Jadhav

Submitted To

in partial fulfillment of the requirement for the award of the degree of

MBA
(Batch 2018 - 2020)

Dr. D.Y. Patil Institute of Management & Entrepreneur Development, Varale

Campus, Talegaon, Pune Maharashtra - 410507
 Declaration of Student

I, the undersigned hereby declare that the Project Report titled “A study of
Process of E-Filing and Investment Pattern of Individual Assesseee”
submitted by me to the Dr. D.Y. Patil Institute of Management & Entrepreneur
Development, affiliated to Savitribai Phule Pune University, Pune, in partial
fulfillment of requirement for the award of degree of Master of Business
Administration (MBA) under the guidance of Prof. S. M. Jadhav. All analysis in
this report is my original work and the conclusions drawn therein are based on
information collected by me.

Place:-Pune Research Student

Date: Manish Vilas Baviskar

 Acknowledgement’

It is the great pleasure to me in acknowledging my deep sense of gratitude to all

those who have helped me in completing this project successfully.
First of All, I would like to thank Savitribai Phule Pune University, Pune for
providing me an opportunity to undertake a project as a partial fulfillment of
MBA degree. I would like to thank all staff member of A. M. Jain (Tax Consultant)
for providing me an opportunity to work with them and providing me necessary
information about their organization, their operation and providing guidance in
developing my project.
I would to thank my project guide Prof. S. M. Jadhav whose valuable guidance
and encouragement at every phase of the project has helped to prepare this project
successfully.
Finally, I would like to express my sincere thanks to my family, my Director
Dr. R.M. Indi and all the faculties, Office staff and library staff of Dr. D. Y. Patil
Institute of Management and Entrepreneur Development, Varale, Pune and
friends who helped in some or other way in making this project.

Place: -

Date:- Manish Vilas Baviskar.

 Index
Chapter 1 Introduction to Research 1-4
1.1 Executive Summery 1
1.2 Objective of Study 2
1.4 Importance of Study 3
1.5 Scope of Study 4
Chapter 2 Theoretical Framework 5-11
Chapter 3 Company profile 12-14
3.1 Introduction of Firm 12
3.2 Carrier Summery 13-14
Chapter 4 Research Methodology 15-18
4.1 Types of Research 16
4.2 Source of Data 17
4.3 Research Design 18
4.4 Analyzed to be used 18
Chapter 5 Data Analysis and Interpretation 18-31
Chapter 6 32-47
6.1 Findings 33
6.2 Recommendation 34
6.3 Conclusion 35
6.4 Limitation of Study 36
6.5 Bibliography 37
6.6 Webliography 37
6.7 Abbreviation 38-47
Chapter 1 Introduction to Research

1.1 Executive Summery

1.2 Objective of Study
1.3 Importance of Study
1.4 Scope of Study
1.1 EXECUTIVE SUMMARY

The project on “Process of E-filing and Investment pattern of individual assessee”

was carried out in A.M. Jain Consultancy. The main objective of project was to
understand the process of E-filing of income tax returns. The project contains all
detailed study of assesse Individual. Different income tax returns were analyzed
according to income of individual.
The focus area of project was to understand and learn process of tax filing that is
adapted by A. M. Jain and understanding the investment pattern of assesse based
on number of factor such as annual income, age,
We underwent Tax training during our initial days of internship and after that I
worked as Account Assistance of A.M. Jain by filing their Income Tax return. I
was able to file return for around 100 clients which includes simple return as well
as mid-complex return. It was great opportunity where I was able to apply the
knowledge of taxes both during filing return and convincing clients as how their
tax summary is prepared.

1
1.2 OBJECTIVES:

1) To understand the concept of income tax.

2) Learning tax calculation in respect to income slab.

3) Learning the procedure of execution of e-filing using e-filing home page income
tax department government of India.

4) Understanding the process of e-verification through mobile banking, ATM,

AADHAR, registered mobile number.

5) Also understanding the pattern of investment of assesses.

2
1.3 Scope of study

For two month I was into tax filing for assesse individual used to prepare basic
return for individual having: -

1) Salary income
2) Income from only 1 house property
3) Income from other source
4) E-verification of the income tax return.

Project Study doesn’t include E-filing of individual income from capital gains,
individual having income from business and profession

1) Hindu undivided family

2) Firms

3) Co-operative society

4) AOP/BOI

3
1.4 Importance of study

 To provide best value for money to investors through innovative Products.

 State of the art technology and personalized service.

 Trading/Investments Strategies.

4
2. Theoretical framework

5
 INTRODUCTION

E-filing program was first introduced by the US-IRS as a pilot project for the
1986 filing period with the primary objective of improving its efficiency in
processing tax returns. Prior to the launching of the project, the IRS worked
closely with tax-preparation software providers and tax professionals to ensure a
successful launch of the program. During the test year, the IRS offered E-filing
services in three cities and restricted the types of tax payers and the types of return
that could be filed electronically. Ex: tax preparers were only allowed to file
returns with nil balances. The pilot project was successful and IRS gradually
expanded the program to other cities and states and by 1990 was able to offer E-
filing of balance due returns, followed by tele filing in 1992 and E-payment in
1996.

In India E-filing Income tax was introduced in September, 2004, initially on a

voluntary usage basis for all categories of Income tax assesses. But from July,
2006 it was mandatory for all corporate firms to E-file their Income tax returns.
Filing of Income tax return is a legal obligation of every person whose total
Income for the previous year has exceeded the maximum amounts that is not
chargeable for the Income tax under the provisions of the Income tax Act 1961.
Income tax department has introduced a convenient way to file these returns
online using the internet. The process of electronically filing Income tax returns
through the internet is known as E-filing. It is mandatory for the companies and
firms requiring statutory audit under section 44AB to submit the Income tax
returns electronically. E-filing is possible with or without digital signature.
Digital signature is mandatory for companies from assessment year 2010-11.

Meaning and Definition of E-filing:

The process of electronically filing Income tax returns through the internet is
known as E-filing.

6
 Definition:

E-filing is the transmission of tax information directly to the tax administration

using the Internet Electronic filing options include;
• Online, self-prepared return, using a personal computer and tax preparation
software
• Online submission of return using a tax professional’s computer and tax
preparation software. Electronic filing may take place at the taxpayer’s home, a
volunteer site, the library, a financial institution, the work place, malls and stores,
or a tax professional’s place of business.
E-filing is defined as “The process of using a computer program to transmit
information electronically to another party. This allows the user to complete and
submit the information in a timely fashion. The electronic filing system prevents
the user from making small mistakes by alerting them if something does not
register correctly. A large majority of federal and state revenue departments offer
citizens the ability to file yearly tax returns using an electronic filing system. The
internal revenue service provides this service free of charge for federal tax
returns”.

Features of E-filing:

• Facility to demand pre-filled.

• For new users, resend activation link feature-helpful if link not received or mail
deleted earlier. User password can be changed now with digital signature
verification also.
• Feedback option for user.
• User can register as a legal heir to do E-filing on behalf of the deceased. This is a
new feature provided for individual user.
• Quick E-file for ITR-1(no need to download any utility, no requirement of any
software).

7
• Just fill and submit like an online application form. Mobile services can be availed
using the URL https://IncometaxIndiaefiling.gov.in/mobile. Forms to be
authorized by CA with digital signature and XML to be uploaded in E-filing portal
(3CA, 3CB, 3CD, 3CEB, FORM29B).
• Tax professional is a new user on this portal. They can E-file Income tax audit
report forms (other than Income tax returns).
• In the new E-filing project there is deducted call center and help disk to deal with
any query or grievance related to E-filing.

Methods of E-filing Income tax returns:

There are four ways to file Income tax returns:

8
 • E-filing with digital signature: -

This option requires one to use a digital signature to sign the E-file. It is the
Most time saving method as it ensures we don’t have to visit any
department office again.

 E-filing without digital signature: -

If we don’t have a digital signature, we will need to print out the single page
receipt cum verification form, called as ITR-V, after completing the E-filing
process. The form ITR-V has to send to the CPC Centre, either through ordinary
or speed post, within 120days of uploading the electronically filed return.
• Manual filing: -

People who are not comfortable with this online system may choose to use the
traditional paper form option.
• E-return intermediary: -

An E-return intermediary (PDF) file that opens in a new window is an agent,

chartered accountant or firm that completes the E-filing process and submits the
receipt cum verification form to the correct Income tax counter.
Pre-requisites:
• Valid TAN and PAN
• Internet banking account
• Good internet connection
• Incase TDS the amount of payment should be split based on:-
Types of Dedicatee:
• (i.e., deduction from companies and from non- companies)
• Nature of payment (i.e., for each section like 94e, 94j etc... for companies and
non-companies separately).

9
REVIEW OF LITERATURE

To find-out the gap in the literature, the following review of earlier works been
done and summarized as below:

• Dr. Sujeet Kumar Sharma, and Dr. Rajan Yadav, (2011), “An Empirical
Study on Tax Payer’s Attitude towards E-return Filing in India”, in their opinion
that study employed factor analysis and multiple regression analysis to understand
tax payers’ attitude towards E-filing. The study found that perceived ease of use,
perceived usefulness, perceived credibility and computer awareness significantly
influence the customer’s acceptance of E-filing.

• Geetha R. and Sekar M. (2012), “E-filing of Income Tax: Awareness and

Satisfaction level of Individual Tax Payers in Coimbatore city, India”, this study
reveals that the existing users are satisfied with the E-filing facilities but most of
the individual tax payers are not awareness of the E-filing and E-payment
procedures so sufficient steps are required to create more awareness in the mind
of tax payers regarding E-filing of Income tax.

• Meenu Gupta, (2012),he analyzed that the acceptance of E-filing of Tax

Returns is much better than traditional system of paying Income tax. The benefits
of E-filing heads up the importance of technological advancement.

• Brahmbhatt Mamta, (2012), “Tax Payers Perception Towards E-file

Adoption: Empirical Investigation”, this study attempts to develop an
understanding of the factors that influence citizen’s adoption of electronic tax
filing services and to discuss taxpayer perception and satisfaction with an online
system for filling individual Income tax return.

• Mukesh Kumar and Mohammed Anees (2014), “E-filing Creating New

Revolution in Taxation of India”, in their opinion that changing scenario in
Income tax due to implementation of E-filing. India is in the phase of
revolutionary changes in information technology which also gives great
advancement in E-filing field of Income tax department.

10
• Dr. Samir Mazidbhai Vohra, (2015) “E-filing; New Revolution in Taxation
of India”. Analyzed that the Income tax department has introduced E- filing of
Income tax returns to make the filing process easier for tax payers which will
result into reduction of time and paper work. India is in the phase of revolutionary
changes in information technology which ultimately gives more encouragement
in E-filing of Income tax return. The study shows that the E- filing is the new
effective method of filing Income tax return through online and make E-payment
oftax.

• Jyothi Arora, (2016), “E-filing of Income Tax Return in India”, he

analyzed in this study, deals with the benefits, process, trends and highlights
(ITRs) of E-filing among the residents of country. In the current world new
information technology is being introduced very fast in all fields.

Due to the facet of time, researchers could not review more articles and books,
but with the available literature, they found that a very few works have been done
on the area of this topic earlier, hence, it’s a small effort is put in to fill-up the
literature gap.

11
COMPANY PROFILE

3.1 Introduction of firm

3.2 Carrier Summery

12
About the firm

3.1 INTRODUCTION OF FIRM

The Firm A.M. Jain Chartered Accountant Its office is in Shirpur. 1ST Floor plot
no. 54 C/O Subhash Colony, Adarsh Nager, Shirpur, Maharashtra, India
Founded in year 2009 by A. M. Jain. Today’s the firm has more than 15
corporate clients and 100 individual clients.
Mr. A M. Jain is a reputed GST practitioner in Shirpur, Dhule. is recognized
for GST Advisory and tax optimization works. Here one can accept full
spectrum of work like Accounting Planning, GST tax optimization, GST
reconciliation Services are tailored here as per client’s requirement. GST
Practitioner number is 271800008164GPK. Payment can be done through
various modes like Cash, Net banking, UPI and Card.

It files taxes through e-filing home page income tax department government of
India.

To set up a high profile by joining your esteemed organization at the post of

Chartered Accountant, and helping the firm with the basic annual report and
accountancy, for the effective growth of the organization

A. M. JAIN is a reputed Chartered Accountants Firm in India, actively engaged

in a full service, multi-disciplinary practice under four core services verticals –
GST, Taxation, Regulatory, Transaction Advisory and Audit & Assurance. The
Firm has immense experience rendering diverse professional services to an
extensive base of national & international clients and is an established name in
its field.

Their endeavor is to provide qualitative, expert professional services rendered

efficaciously, sagaciously and with keen attention to details to match client’s
requirements. We provide services pragmatically, innovatively along with due
care & diligence. We have an extensive team of professionals with sound
regulatory & professional knowledge and strong business acumen

13
3.2 CAREER SUMMARY

• Spearheaded development of policies as well as internal control through

successful implementation of ERP environment

• Adept in maintaining and finalizing of accounts, profit monitoring and preparing MIS.

• Liaisoned with rating agencies for enhancing credit rating.

• Possess good communication skills along with sound knowledge of core

functions of accounting and auditing along with an extraordinary ability to
apply them

• Expert knowledge in various MS-Office applications as well as other accounting

software such as Tally
• Keen understanding of various tax procedures and handling tax audits for the firm

CA also provides different types of services for their clients

Statutory Audit

GST Return

Filling ITR

Legal Adviser

14
RESEARCH METHODOLOGY:

4.1 Types of Research

4.2 Source of Data
4.3 Research Design
4.4 Analyzed to be Used

15
 RESEARCH METHODOLOGY

The following paragraphs elucidate the methodology followed in this study:

Type of research:

This study is an empirical in nature, conducted to know the proposed

study intends to study the problems and prospects of E-filing of income tax
returns.

Scope of the Study:

The proposed study intends to study the problems and prospects of E-

filing of income tax returns. For this purpose, it is proposed to study the various
factors relating to E-filing and also its contribution to Economy. Therefore the
study is restricted to Shirpur, Subhash Colony, Adarsh Nager, Shirpur,
Maharashtra, India

Research tool:

This study is conducted through random sampling method

16
Sample size:

Sample size is 50 respondents. Respondents are scattered over Subhash

Colony, Adarsh Nager, Shirpur, Maharashtra, India so interview is conducted
only for the selected respondents of the study area.

Sources of Data:

For the Sources study is collected in two ways:

Primary data:

Primary data is collected through structured questionnaire and personal

interview with respondents.

Secondary data:

Secondary data is collected through Journals, Books, E-Sources, and

Reports etc.

Research Design:

This project is based on exploratory study as well as descriptive study.

17
Sampling Unit: Sampling unit implies that who are the respondents from the
assesse class people/Investor

Sample Size: Sampling size is taken to be 50 for convenience i.e. 50 people fill
the questionnaire for the survey.

Sampling Technique: Sampling technique is the technique used to select the

sample size. Convenient sampling technique is used. In this, Investors were
taken according to the convenience of the research study.

Sampling design: Since the information was to be taken from Investors, a

questionnaire was prepared for studying the saving habits and investment
pattern of assesse class people at Shirpur.

Data collection source: The study is based on both secondary and primary data.
The secondary information is collected from different published materials viz.
Books, Journals, magazines & websites etc. And primary data collected by
communicating with respondents through a structured questionnaire.

Analyses to be used:

Diagrams and Tables: Tables are used to describe the performance of different
financial instruments.

18
Chapter 5 Data Analysis &Interpretation

19
1: - To understand accesses investment pattern in terms of duration

Table 5.1: - Term of Investment

Term of investment No of Respondents Percentage of

respondents
Short Term 22 43%
Long Term 28 57 %
Total 50 100%

Term of Investment

43%

57%

Shortterm Longterm

Interpretation:

From the analysis it is observed that individuals prefer to invest in Long term
plans rather than investing on short term investment plans. However, I can also
say that there is not major difference between two investment preference i.e.
57% prefer to invest in long term and remaining 43% prefer to invest in short
term.

20
 Table No 5.2- Understanding common investment made under Chapter VI A: -

Investment under 80c No. of respondents %age of

respondents
5 year fixed deposit 3 6%
ELSS 2 4%
NSC 2 4%
Children’s Education 9 18%
Fee
PPF 8 16%
PF 12 24%
Life insurance 9 18%
premium
Mutual Funds 5 10%
Total 50 100%

30%

25%

20%

15%
0.24
10%
0.18 0.16 0.18
5% 0.1
0.06 0.04 0.04
Axis Title

0%

Interpretation: - This figure gives us idea about the preference of assesse in

context to preference of their investment under SEC 80C. Here majority of people
are claiming provident fund whether it is Employee provident, Employer
provident fund or Voluntary provident fund and hardly 4% people invest in NSC
and ELSS, the reason can be lack of awareness among investor, another reason
can be that it does not attract quick benefit.

21
 Table No5.3: - Understanding investment pattern of individual

Investment Pattern No. of Respondents Percentage of

respondents
Monthly 14 28%
Half yearly 4 8%
Yearly 24 48%
Very Rare 11 22%
Total 50 100

Series 1

Very Rare 0.22

Yearly 0.48

Half yearly 0.08

Monthly 0.28

0% 10% 20% 30% 40% 50% 60%

Interpretation: -

People who wish to invest yearly tend to be more in number in comparison to

those who invest on monthly and half yearly basis, showing a bigger number of
48%, people which show the least number are half yearly investors with only 8%
contribution according to the data.

Note: - The data obtained through the above questionnaire is collected from the
cases on which I worked during my Internship

The data collected through field study is presented in tables and interpreted as
below:

22
Table 5.4: Demographical factor – Gender of the Respondents

Sr. Gender No. of Percentage

No Respondents (%)
01 Male 27 54.00
02 Female 23 46.00
Total 50 100

Chart Title
120

100

80

60

40

20

0
No. of Respondents Percentage

Male Female Total

Table No 5.1 Represents gender of the respondents. It is clear that, out of 50

respondents, 54% of respondents are male and remaining 46% are female. Here
interpreted that majority of respondents are male as they are the earners and head
of the family.

23
Table 5.5: Demographical factor – Age of the Respondents

Sr. No Age No. of Percentage

Respondents (%)
01 20-30 19 38.00
02 31-40 08 16.00
03 41-50 11 22.00
04 Above 12 24.00
51
Total 50 100

Chart Title
40

35

30

25

20

15

10

0
No. of Respondents Percentage

20-30 31-40 41-50 Above51

Table No 5.2: represents Age of the respondents. Out of 50 respondents 38% of

respondents comes under the age group of 20-30 years, 16% are under 31-40
years, 22% are under 41-50 years and above 51 years are 24%.It is interpreted
that majority of respondents who pay tax comes under the age group of 20-30
years 38% out of 100%. Because of youths are aware about E-filing Income tax.

24
Table 5.6: Demographical Factor - Educational Qualification

Sr. No Educational No. of Percentage

qualification Respondents (%)
01 SSLC 08 16.00
02 PUC 10 20.00
03 Degree 17 34.00
04 PG 15 30.00
05 Other 00 00.00
Total 50 100

Chart Title
40

35

30

25

20

15

10

0
No. Of Respondent Percentage

SSLC PUC DEGREE PG OTHER

Table No 5.6: depicts educational qualification of the respondents. Out of 50

respondents following qualification is identified. 16% of respondents are having
the qualification of SSLC, 20% are completing PUCs, 34% are degree holders,
30% have Post-Graduation and other qualification holder is nil. It shows that
majority tax payers have Under-graduation qualification who well known about
study topic.

25
Table 5.7: Demographical Factor - Occupation

Sr. No Occupation No. of Percentage

Respondents (%)
01 Businessman 17 34.00
02 Employee 14 28.00
03 Professional 08 16.00
04 Other 11 22.00
Total 50 100

Chart Title
40

35

30

25

20

15

10

0
No of Respondents Percentage

Businessman employee Professional Other

Table No 5.7: represents occupation of the respondents. Out of 50 respondents

34% are businessmen, 28% are employee, 16% are professional, and 22% have
other occupation. It is interpreted that majority of the tax payers are
businessmen’s. It shows that in all the occupations more or less equal tax payers
we can find.

26
Table 5.8: Demographical Factor - Annual Income

Sr. No Annual No. of Percentage

Income Respondents (%)
01 Less than Rs 05 10.00
2.5 lakh
02 Rs 2.5 lakh to 21 42.00
Rs 5lakh
03 Rs 5 lakh to Rs 17 34.00
10 lakh
04 Above Rs 10 07 14.00
lakh
Total 50 100

Chart Title
45
40

35

30

25

20

15

10

0
No. of Respondent Percentage

Less than Rs2.5 lakh Rs 2.5 lakh to Rs5 lakh Rs 5 lakh to Rs10 lakh Above Rs 10lakh

Table No 5.8: depicts annual income of the respondents. Out of 50 respondents

based on annual Income they are classified. 10% have annual Income less than
Rs. 2,50,000, 42% are between Rs. 2,50,001 to Rs. 5,00,000, 34% are between
Rs. 5,00,001 to Rs. 10,00,000 and 14% are above Rs. 10,00,000 annual Income.
Here that majority of tax payers nearly 42% have the annual Income between Rs.
2, 50,001 to Rs. 5,00,000.

27
Table 5.9: Head of Income is Taxable

Sr. No Particulars No. of Percent

Respondents age (%)
01 Income from Salary 15 30.00
02 Income from House 05 10.00
Property
03 Income from Business or 22 44.00
Profession
04 Income from Capital Gain 02 4.00
05 Income from other 06 12.00
sources
Total 50 100

Chart Title
50
45
40
35
30
25
20
15
10
5
0
No of Respondents Percentage

Income from salary Income from House property

Income from Business or Profession Income from Capital Gain
Income from other sources

Table No 5.9: shows that out of 50 respondents 30% have Income from Salary,
10% Income from House Property, 44% Income from Business or profession, 4%
Income from Capital Gain and 12% Income from other Sources.

28
Table 5.10: Classification of Respondents on the basis of Reasons for Filing
the Return

Sr. No Particulars No. of Percentage

Respondents (%)
01 Regular 24 48.00
provision
02 Refund 08 16.00
claiming
03 Carry 08 16.00
forward
loss
04 Based on 10 20.00
law
Total 50 100

Chart Title
60

50

40

30

20

10

0
No. of respondent Percentage

Regular provision Refund claiming Carry forward loss Based on law

Table No 5.10: shows that out of 50 respondents 48% respondents filing the return
because, of regular provision, 16% are Refund claiming, 16% are carry forward
loss and 20% are based on law. Here interpreted that majority of respondents who
files the returns because of regular provision. If the Tax payers file the return it is
easy to them get refund very fast.

29
Table 5.11: Classification of Respondents on the basis of Way to File the
Return
Sr. No Particulars No. of Percentage
Respondents (%)
01 E-filing using a digital 32 64.00
signature
02 E-filing without a digital 18 36.00
signature
Total 50 100

Chart Title
70

60

50

40

30

20

10

0
No. of respondents Percentage

E-filing using a digital signature E-filing without a digital signature

Table No 5.11: shows that out of 50 respondents 64% of respondents file the
Return by using a digital signature and remaining 36% file the return without a
digital signature. It is interpreted that majority of respondent are using digital
signature while paying the income tax, because it is easy to file a tax.

30
Table 5.12: Classification of Respondents on the basis of time period
generally preferred for E-filing return

Sr. No Particulars No. of Percentage

Respondents (%)
01 1 month 14 28.00
before due
date
02 1 week before 18 36.00
due date
03 2-3 days 08 16.00
before due
date
04 After the due 10 20.00
date
Total 50 100

Chart Title
40
30
20
10
0
No. of respondents Percentage

1 month beforeduedate 1 week beforeduedate 2-3 days beforeduedate After the duedate

Table No 5.12: shows that out of 50 respondents 28% of respondents are prepared
for E-filing return one month before due date, 36%respondents fill one week
before due date, 16%respondents fill 2-3 days before due date and remaining 20%
are prepare After the due date. It is interpreted that majority of respondents are
prepared one week before the date of filling return because, of E-filing is easy
mode for paying tax.

31
Chapter: 6
6.1 FINDINGS
6.2 Recommendation
6.3 CONCLUSION
6.4 Limitations of study
6.5 Bibliography
6.6 Webliography
6.7Annexure

32
6.1 FINDINGS

 From the observation and practical experience, it can be seen that e-filing is
convenient than physical tax filing.

 It was also found that number of clients are aware of basic deductions and
exemptions.

 It was found that most of people claim deduction under LIC, children tuition
fee, medical bills.

 From the observation during SIP it was seen that clients are comfortable with e-
verification rather than paper based verification

 It was found that major portion of people are not interested tax filing before
July.

33
6.2 Recommendation

Here are some of the suggestions:

1) For the betterment of the website the government must focus on the
website server that the website properly works in the peak months and make sure
to use more and more advance technology for make easy website for the income
taxpayers for filing the income tax returns.

2) A.M Jain should increase awareness among their customer as how and
when to update their tax related document, as many clients are not aware of
Aadhar linking and due to this they are facing problem during peak time.

3) Need to create more awareness about E-Verification of ITR-V.

4) Proper spacing in sitting place for advisors

5) Improvement in calling software

34
6.3 CONCLUSION

As per the observation and study, we can conclude that people are more
comfortable with online filing rather using the traditional paper based filing as it
is more easy and time saving. In today’s busy world no one has time and e-filing
is a gift for all those people who wish to file their return without spending much
of their time. During, my Internship it was observed that there are few set of
people who want their return to get filed within one day as their schedule doesn’t
permit them much time.

6.4 Limitations of study

 Reluctances of the people to provide complete information about them
can affect the validity of the responses.

 The lack of knowledge of customer about the financial instrument can be

a major limitation.

 The information gathered can be biased due to use of questionnaire.

35
 6.5 Bibliography

 Menu Gupta (2012). The Journey of E-filing of Income Tax Return In India,
International Journal of Research in Commerce, IT and Management, vol.2,
issueno.6

 Yi-Shun Wang (2002). The Adoption of electronic Tax Filing Systems,

Government Information Quarterly, Vol. 4 issue no.6.

 Dr. Sujeet Kumar Sharma and Dr. Rajan Yadav (2011). An Empirical Study on
Tax Payer’s as Attitude towards E-Return Filing in India, International Journal
of Research in Computer Application and Management, vol.1 issue no.6, ISSN
2231-1009.

 Geetha B and Sekar M (2012). E-filing of Income Tax: Awareness and

Satisfaction Level of Individual Tax

 Payers in Coimbatore city, India, Research Journal of Management Sciences,

vol.1 (4), ISSN 2231-5756

 Dr. Samir Mazidbhai Vohra (2015). E-filling; New Revolution in Taxation of

India, International Journal of Scientific Research, Vol.4 issueno.11.

 Mukesh Kumar and Mohammed Anees (2014). E-filing Creating a New

Revolution in Taxation of India, Global Journal of Finance and Management,
vol. 6, ISSN 0975-6477,PP.379-384.

 Dr. Meenal& Ms. Ginni Garg (2012). E-filing of Taxes, International Journal of
Enterprise Computing and Business Systems, vol.2, issueno.1.

36
 6.6 Webliography

1. https://cleartax.in/s/download-gstr-1-make-changes

2. https://en.wikipedia.org/wiki/Goods_and_Services_Tax_(India)

3. https://www.hrblock.in/earlygst/guides/

4. https://www.gst.gov.in/

5. https://www.studydhaba.com/articles/

6. https://www.quora.com

7. http://www.gstcouncil.gov.in/about-us

37
 Annexure
Questionnaire
(DISCLAIMER: I Manish Vilas Baviskar, student of Dr. D.Y Patil INSTITUTE
OF MANAGEMENT AND Entrepreneur Development, pursuing Internship at A.M.
Jain doing my research on PROCESS OF E-FILING AND INVESTMENT PATTERNS
OF INDIVIDUALS ASSESSEE. I will be obliged if you could respond to the below
mentioned questionnaire. Yours response can put more light on my research work and it
will help me to land to a realistic findings)

Name:

Full Address:

Phone Number:

Email Id:

1. Which age group do you belong?

1. 18-30 3.45-60

2. 30-45 4. 60 &Above

2. Your Annual Income ranges from: -

1. Below2lakhs 3. 5 Lakhs- 10Lakhs

2. 2lakhs-5 lakhs 4. Above 10lakhs

3. Where you frequently invest?

1. 5 year fixed deposit 2. ELSS

3.NSC 4. Children’s Education fee

5.PFF 6. PF

7. Life Insurance Premium 8. Mutual funds

38
 4. Do you invest to claim deduction under 80C?
1. Yes

2. No

5. How often you invest?

1. Monthly

2. Half yearly

3. Yearly

4. Quarterly

6. What are the factors you give preference while investing?

1. Safety 3. Less Risk

2. Return 4.Liquidity

APPENDIX-II

Questionnaire for Individual Assesses

Note:
1. The contents of this form will be kept strictly confidential.

2. The information given will be used only for academic purpose and will be
tabulated in such a manner that it would not be possible to identify therein the
facts pertaining to any particular individual.

(Please put a tick (√) mark against the answers you choose)

39
 Part– I General Information

Name of the assesse :

(Tax-payer)
Occupation :

Address :

Name of your tax consultant:

Qualification :

Address

3.0 Are you regular taxpayer?

Yes: No:

4.0 Under which heads of income, your income becomes taxable?

a. Income from salary

b. Income from house property

c. Profits and gains of business, profession

d. Capital gain

e. Income from other sources

5.0 What is your income range?

a. Less than Rs. 3lakh
b. Rs. 3 lakhs to Rs. 5lakhs
c. More than Rs. 5lakhs

40
 Part – II Services

1. Which of the following services does your tax consultant provide

you?
a. Taxation

• Taxes

• Income Tax

• Value Added Tax

• Service Tax

• Central Excise

• Customs duty

• Tax Planning (this tries to ensure that the tax liability is minimum)

• The Compliances and procedural work

b. Book – keeping and Accountancy

c. Cost Accountancy

d. Audit

• Internal Audit

• Financial Audit

• Environmental Audit

• Information System Audit

e. Consultancy services

• Management accountancy/Internal audit

41
 • Project planning and finance

• Profit improvement or turn around studies

• Arrangement for the sources of finance

2 Does your tax consultant timely notify you the various provisions and
submissions of all taxes?

Yes: No:
3 Whether your tax consultant reminds you regarding tax obligations?

Yes: No:
4 Behavior of office staff of the tax consultants is----------------------------------
--------------------------------------------------------------------------------------
5 How do you get the information about taxation?

•
Through tax consultant

•
Through friends and relatives

•
Through media

(Journals, magazines, books, televisions etc.)

5 a) what is your impression about the fees charged by your tax
consultant?
•
Higher

•
Lowest

•
Reasonable

•
Any other(mention)

b) Suggestions, if any in this regard.

42
 Part – III Tax Awareness

1 Do you know- YN
Income Tax Act undergoes change every year with additions and deletions
brought about by the Finance Act passed by the Parliament (Government’s
Annual Budget)?
The various items of income that are exempt from tax.
How the taxable income is computed?
When the income of other persons included in assesse’ s total income?
Deductions permissible under chapter VI-A of Income Tax Act,1961?
How income tax is charge?
At which rate income tax is to be charged?
2 Do you discuss Government’s Annual Budget provisions with your tax
consultant beforehand?

Yes: No:

3 Does your tax consultant help you in understanding the impact of budget
provisions on your tax liability and planning tax accordingly?

Yes: No:

Part – IV Filing of Returns

1. Reasons for filing the first return

•
Regular provision

•
Refund claim

•
Carry forward of loss

•
Notice from Income Tax Department

2. Generally, when you do prepare for filing of return?

43
 •
1 month before due date

•
1week before due date

•
2-3 days before due date

•
After due date

3. After providing required documents, in how much time your tax consultant files
the return?

•
Within 1day

•
Within a week

•
After a week

•
Other(mention)

4. Has any penalty being levied by Income Tax Authority for filing up tax returns
late?

Yes: No:
5. If yes, who was at real default?

•
Yourself

•
Your tax consultant

•
Any other reason

44
 Part - V Other

1. Whether you have faced misplacement of any documents regarding income tax
by your tax consultant?

Yes: No:

2. Does your tax consultant discuss the financial matters of someone else with
you?

Yes: No:

3. Are you sure that your tax consultant keeps all the information regarding your
income tax matter confidential?

Yes: No:

4. Since how many years you are filing returns?

•
0-5years

•
5-10years

•
10-15years

•
15-20years

•
More than 20years

5. Since how many years you are filing returns with the current tax consultant?

45
 •
0-5years

•
5-10years

•
10-15years

•
15-20years

•
More than 20years

6. In these years, whether you have changed your tax consultant?

Yes: No:

7. If yes, reason for such change-

Change of office place High charges

Dissatisfaction Inconvenience
Death/retirement of consultant Conflicts with consultant
Any other reason(mention)
8. Have you faced any penalties regarding income tax?

Yes: No:

9. Whether your case was selected for scrutiny? Why?

10. How your tax consultant co-operated in that matter?

11. Difficulties faced by you in getting services from tax consultant?

12. Are you satisfied with the services provided by your tax consultant?

 Fully satisfied
 Partly satisfied
 Not satisfied

46
13. If not satisfied, mention your difficulties and suggestions.

14. Any other suggestions by you for improvement in the relation between tax
consultant and the firm assesse.

47