Important changes in procedure in efiling for the A.Y. 2008-09.

Necessary software for efiling of returns has been released in the official website www.incometaxindiaefiling.gov.in. ITR 1/2/3/4/5/6 and 8 have been released a few days ago.

As I have informed in my earlier post that PAN has been made the User id for all individual assesses. All the user ids other than PAN have been substituted by PAN. (In the last year the system was not allowing any other user id to create but in the very first year of efiling assessees could have exercised their own choice for any user id. This created a lot of troubles. By mistake or intentionally the users did mention “spaces” in the beginning or at the end which were not visible while retrieving forgotten user ids and that made a lot of problems. I can remember incidents like one assessee has filed return for another one by mistake and the original one was running from pillar to post to submit his own return. Hope, being PAN, the unique id, these problems will be no more. But remember, the password will be the same as you have mentioned while registering.

The e mail id has been made mandatory field for efiling. You may observe that now it is a red field. This year after successful submission or return electronically, the ITR V will be sent through email to the assessee. So providing correct email id is a must. I know many assessees have provided an imaginary email id while registering. I suggest them to update their email id before filing their return this year. The procedure is very simple.

Visit the site www.incometaxindiaefiling.gov.in , Log in with user id and password. Go to – My Account (Top Right Hand Corner) – My Profile. Change the email address correctly and save.

Mention the same email address in your return henceforth.

Efiling for AY 2008-09 has now commenced. The New Forms were notified on 28/03/2008 and the following subsequent actions have been taken:

1. Return Preparation Software (in Excel) for ITRs 1, 2, 3, 4 released on 19/04/2008. 2. Efiling for ITRs 1, 2, 3, 4 commenced and website ready to receive returns on 19/04/2008. 3. ITRs 5, 6, 8 will be released shortly. Userid by default is the PAN number for all users now. Earlier some users (in 2006-07) had created their own userid but that has been substituted by PAN now. The Password, however, will continue to remain the same as earlier (as chosen by the user) Email id is now mandatory in the I-T return as well as at the time of registration since the ITR-V or Acknowledgement will be sent via email to the taxpayer after the taxpayer has submitted the return. Userid / password shall also be emailed to taxpayer after registration. Returns can be filed for AY 2007-08 and AY 2008-09 using the same 'Submit Return' button. Since the time limit for return filing for AY 2006-07 has expired, returns for AY 2006-07 can be filed only if notice under section 148 or 153A have been issued. Taxpayers will have to choose Return Filed under Section code corresponding to Return filed in response to notice u/s 148 (Code 14) or u/s 153A (Code 15) before uploading the xml for AY 2006-07. However, taxpayers will also use the same 'Submit return' button for AY 2006-07 as well The last date for filing I-T return for AY 2006-07 is now over. If you wish to file a I-T return for AY 2006-07 in response to a notice under Section 148 or under Section 153A, please contact the call center to obtain the Return Preparation Software. Telephone No of Aayakar Sampark Kendra 0124 2438000

NEW: Incometax Department notifies Income Tax Return Forms for AY 2008-09.

PDF forms may be downloaded from http://incometaxindiaefiling.gov.in/portal/html/downloads2008_09.jsp

The Department is working to complete all preparations to receive E-filed returns for AY 2008-09. We request you to bear with us since the Return Preparation Software for AY 2008-09 and facility to receive e-filed returns for AY 2008-09 would be made available shortly.

PAY TAXES ONLINE

Procedure for e-payment of Direct Taxes

As per press release of CBDT No. 402/92/2006-MC (05 of 2008) dated 23.01.2008, e-payment (online tax payment) of Direct Taxes is mandatory w.e.f. 04.04.2008 for corporate and 44AB assessees.

Which Banks offer e-payment facility?

1. Axis Bank
2. State Bank of India
3. Punjab National Bank
4. Indian Overseas Bank
5. Canara Bank
6. Indian Bank
7. Bank of India
8. Corporation Bank
9. State Bank of Bikaner & Jaipur
10. State Bank of Travancore
11. State Bank of Indore
12. Vijaya Bank
13. HDFC Bank
14. Oriental Bank of Commerce
15. State Bank of Patiala
16. Bank of Baroda
17. IDBI Bank
18. State Bank of Mysore
19. Bank of Maharashtra
20. State Bank of Hyderabad
21. State Bank of Saurashtra
22. Union Bank of India
23. Allahabad Bank
24. Dena Bank
25. Syndicate Bank
26. ICICI Bank

How do I make online tax payment sitting at home/office?

i. Open a net-banking account with any of the banks listed above.

ii. Go to website incometaxindia.gov.in, click on ‘pay taxes on-line’.

iii. Fill in the required challan online. Help is available on screen as FAQ, downloads etc.

iv. Make tax payment through net-banking account online.

v. A challan counterfoil will be available instantaneously on the screen with CIN (challan identification number). The Challan Identification Number (CIN) on this counterfoil should be quoted in Return of Income.

vi. Print the counterfoil and also save it in the computer if possible.

vii. Check if your payment has reached the Income Tax Department at https://tin.tin.nsdl.com/oltas/servlet/QueryTaxpayer.

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What are the advantages of paying taxes online?

i. You can pay taxes from any location at any time through your net-banking account.

ii. Instant transfer of funds from your account.

iii. What you write on the e-challan will be directly sent to Income Tax Department. Banks will not do any data entry.

iv. You can save/print the challan copy and the receipt copy.

v. As soon as your Bank authorizes payment of the amount, you will receive a clear, legible receipt/counterfoil from your Bank.

vi. Transaction id of the e-payment transaction will be available to you in your bank statement.

vii. You can check online if your money has actually reached the I-T Department. For this you have to go to Tax Information Network Website: https://tin.tin.nsdl.com/oltas/index.html

CIN Based View

and click the box

For detailed information please go to: incometaxindia.gov.in,

PAY TAXES ONLINE

IMP: In case of refunds adjusted against arrear demand, the normal refund should be attached with challan and sent to Bank by AOs as per earlier procedure.

eFiling Statistics

e-Filing for AY 07-08: Quick Statistics (as on 31st JAN 2008)

Milestone Achievements E-returns upto 31/01/2008 14.66 Lakh (up by 400 % from 06-07) Corporate E-returns 3.57 Lakh (up by 18 % from 06-07) Voluntary E-returns 7.86 Lakh (54 % of total E-returns) E-returns received on the due date* 1.62 Lakh (up by 238 % from 06-07) E-returns received on the last 5 days before due date 4.60 Lakh (up by 235 % from 06-07) Number of registered users 17.25 Lakh (up by 376 % from 06-07) Number of Corporate returns filed using free Return Preparation Software available on website 1.43 Lakh (42 % of total Corporate E-returns filed) Number of all returns filed using free Return Preparation Software available on website 5.33 Lakh (37 % of total E-returns filed) Number of E-Returns filed before 9 am or after 6 pm (beyond office hours) 4.16 Lakh (33% of total E-returns) Number of E-returns filed using digital signature 2.20 Lakh (15% of all returns and 42% of corporate returns) No. of Tax Deducted at Source Records in e-Returns 1,34,11,821 No. of Tax Challan Records in e-Returns 22,15,130 Peak rate of return received/hour 21,729/hr (up by 279% from 06-07) Peak bandwidth utilized 45 Mbps (up by 78% from 06-07)

*Original Due date for 2007-08 was 31/10/2007, which was subsequently extended to 15/11/2007