What is e fling , advantages, consequences of non filing of return from book

======================================

Prescribed Return forms (AY 2019-20)

ITR Forms Description
ITR-1 also known as SAHAJ
This return is filled by an individual who has total
income not greater than Rs. 50 lakhs and total income
must consist of the following incomes only:
a. Salary
b. One house property (not being brought forward
loss)
c. Income from other sources (other than loss and
winning from lottery/income from race horses)
ITR – 2 This return is filled by an individual / HUF who has no
income from a proprietary business or profession.
ITR – 3 This return is filled by an individual and HUF having
business or profession income.
ITR – 4 also known as For presumptive income from Business and Profession.
SUGAM
ITR – 5 For persons other than:-
a. Individual,
b. HUF,
c. Company and
d. Person filing Form ITR-7
ITR – 6 For Companies other than companies claiming
exemption under section 11
ITR – 7 For persons including companies required to furnish
return under sections 139(4A) or 139(4B) or 139(4C) or
139(4D)
ITR – V When a return form from ITR 1 to 5 is not digitally
signed, then an acknowledgment form is generated
known as ITR V and this form is to be posted to the CPC
in Karnataka provided the return is not electronically
filed.

Mode of submission of ITR forms

You can file paper-form based return for below mentioned cases and for all other remaining
cases only electronic filing of returns has to be done.
1. Where ITR form used for filing of return is ITR-1 and ITR 4, AND
2. Where total income is less than or equal to Rs. 5,00,000 OR
3. TDS refund is not claimed in the return of income
Note: There is a special exemption provided to the persons with age 80 years or more, they
can file paper return irrespective of any condition or form.
Time limit to file the return
1. If an assessee is required to submit a report under section 92E relating to international
transactions or specified domestic transactions, then 30th November.
2. If the assessee is a company and the company is not covered under the above point,
then the due date is 30th September.
3. Remaining cases:
a. Accounts of the assessee are to be audited under any other law, then the due date
is 30th September.
b. If the assessee is a working partner in a firm the accounts of which are to be
audited under any law, then the due date is 30th September.
c. In any other case, the date is 31st July.
Summary:
S.N. Cases Due dates
1. Assessee is covered u/s 92E 30th Nov
2. Assessee is a company but not covered u/s 92E 30th September
3. Assessee is not covered under above two cases :
a. Audit is required 30th September
b. For working partner in a firm required to be audited 30th September
under any law
c. Other case 31st July

Procedure to file a return

Step 1: Log on to www.incometaxindia.gov.in and click on icon to e-file Income Tax
Return or to http://incometaxindiaefiling.gov.in.
Step 2: Select applicable form for your income.
Step 3: Download e-filing utility from the official website of Income Tax Department.
Step 4: Enter all the detail information in given form. It must be validated after putting
required information. It will generate XML file which you have to save in your computer for
upload. Keep all supporting/related document with you while filling the ITR form.
Step 5: Create your account with user ID and password on the website
http://www.incometaxindia.gov.in/. It is require to upload your income tax return.
Step 6: Now login with your user ID and password
Step 7: Select Assessment year for which year you want to file the return. After selected it
will show your PAN and assessment year selected by you.
Step 8: You must verify your PAN and assessment year to avoid late refund or other issues.
Step 9: Now select your ITR form no. i.e. ITR-1/ITR-2/ITR-3/ITR-4.
Step 10: Select yes if you have digital signature or no if you have not. (Digital Signature is
mandatory for all audit cases and companies).
Step 11: Now click on Browse to select XML file which you have saved in your computer.
Now, click to “Upload” button.
Step 12: After completing upload process the pop will be shown to download your
acknowledgment receipt in PDF format. The PDF file will be password protected. The
password will be your PAN followed by the date of birth in small letters.
Step 13: In case of return is digital signed, on generation of Acknowledgement, the return
filing process gets completed.
Step 14: In case the return is not digitally signed, on successful uploading of e-Return, Form
ITR-V would be generated which needs to be printed. This is an acknowledgement cum
verification form. You need to sign this form.
It should be mailed to “Income Tax Department – CPC, Post Bag No.1, Electronic City Post
Office, Banglore-560100, Karnataka, “BY ORDINARY POST ONLY within 120 days after
the date of filing income tax return online.
If you miss the 120 days period then It is deemed by the department that you have not filed
your income tax return. So you shall be required to re-submit the income tax return followed
by submitting new form ITR-V within 120 day. It will complete the return filing process.
You can also use the following methods to e-verify income tax return, if you don’t want to
send ITR-V.
 e-Verification using e-Filing OTP
 e-Verification using Net Banking login
 e-Verification using Aadhaar OTP validation
If you choose any one from above you are not required to do any further action. You efiling
of income tax return process ends here.

Note: Dear students you can refer the following link to understand this
https://www.youtube.com/watch?v=XJhltamguTw

Tax Deducted at Source (TDS)

Section Income When to deduct Rate of TDS

192 Salary Monthly- at the time of  Normal rates
payment where estimated applicable to
yearly net taxable salary an individual.
exceeds tax free limit.  (30% if no
Valid PAN)
  The
employee can
make an
application to
the assessing
officer to get
a certificate of
lower tax
deduction or
no tax
deduction.
192A Payment of accumulated when the amount of 10%
balance due of Employees’ payment or aggregate (30% if no Valid PAN)
Provident Fund Scheme, 1952, amount of payment
to Employess which is taxable in exceeds Rs. Rs. 50,000/-
their hand

193 Interest on securities* At the time of credit or 10%

a) any debentures or securities payment, whichever is (20% if no Valid PAN)
for money issued by or on behalf earlier, when the
amount exceeds Rs.
of any local authority or a
10,000/-In case of
corporation established by a
Debentures Threshold
Central, State or Provincial Act;
limit is Rs. 5000/-
b) any debentures issued by a
company where such
debentures are listed on a
recognised stock exchange in
accordance with the Securities
Contracts (Regulation) Act, 1956
(42 of 1956) and any rules made
thereunder;
c) any security of the Central or
State Government;
d) interest on any other security
194 Dividend other than the Before making payment 10%
dividend as referred to in to shareholder, other (20% if no Valid PAN)
Section 115O than dividend declared
U/s. 115O, when
amount exceeds Rs.
2,500/-
194A Interest other than At the time of credit or 10%
“Interest on securities” payment, whichever is (20% if no Valid PAN)
earlier, when the
amount exceeds Rs.

194B Income by way of winnings
/194BB from lotteries, crossword
puzzles, card games and other
games of any sort and Income
by way of winnings from
horse races
194C Payment to
contractors/ sub-
contractors
194D Insurance Commission
194DA Payment under life
insurance policy
(including Bonus)
194G Commission on sale of lottery
tickets
194H TDS on commission
brokerage for AY 2018-19
194J Any sum paid by way of
a) Fee for professional
services,
5,000/-. However, limit is
Rs. 10,000/- in case of
interest credited by banks
including co-operative
banks to its members.
Winning from Lotteries 30%
Rs. 10000 (30% if no Valid PAN)
HORSE RACE
Rs. 10000
At the time of credit or 2% – For payments
payment, whichever is to contractor / Sub-
earlier, when the amount contractor
of a particular contract who is not an
exceeds Rs. 30,000/- or Individual/HUF(20% if
the total no Valid PAN)
amount of contract
during the whole year
exceeds Rs. 1,00,000/-
1% – For payment to
contractor/Sub-
contractor
who is an
Individual/HUF(20% if
no Valid PAN)
At the time of credit or
payment, whichever is 5%
earlier when the amount (20% if no Valid PAN)
exceeds Rs. 15000 (Please refer Note
At the time of payment 1%
when the amount or the (20% if no Valid PAN)
total amount during the
whole year exceeds Rs. 1
,00,000/-
At the time of credit or
payment, whichever is 5%
earlier when the amount (20% if no Valid PAN)
exceeds Rs. 15000
At the time of credit or 5%
payment whichever is (20% if no Valid PAN)
earlier when the amount
exceeds Rs. 15000
At the time of credit or 10%
payment, whichever is 2% in case of
earlier, when the amount payments received or
b) Fee for technical services
c) Royalty,
d)
Remuneration/fee/commission
to a director or
e) For not carrying out any
activity in relation to any
business
f) For not sharing any know-
how, patent, copyright etc.
exceeds Rs. 30,000/- credited to a payee,
being a person
engaged only in the
business of operation
of call centre w.e.f
01.06.2017.
(20% if no Valid PAN)