e filing

e-Filing of Returns/Forms is mandatory for
  1. In the case of an Individual/HUF
    • Where accounts are required to be audited under section 44AB;
    • Where the above is not applicable and
      • The return is furnished in ITR - 3 or in ITR - 4; or
      • The individual/HUF being a resident (other than not ordinarily resident) has Assets, including financial interest in any entity, located outside India, or signing authority in any account located outside India, or income from any source outside India;
      • Any relief in respect of tax paid outside India under section 90 or 90A or deduction under section 91 is claimed.
      • Where an assessee is required to furnish an Audit Report specified under sections 10(23C) (iv), 10(23C) (v), 10(23C) (vi), 10(23C) (via), 10A, 10AA, 12A(1) (b), 44AB, 44DA, 50B, 80 - IA, 80 - IB, 80 - IC, 80 - ID, 80JJAA, 80LA, 92E, 115JB, 115VW or give a notice under section 11(2)(a) shall e-File the same. These Audit Reports are to be e-Filed and any person required to obtain these Audit Reports are required to e - File the return.
      • Total income exceeds five lakh rupees or any refund is claimed (other than Super Senior Citizen furnishing ITR1 or ITR2)
    • In cases where accounts are required to be audited under section 44AB, the return is required to be e-Filed under digital signature (DSC).
    • In cases where accounts are not required to be audited under section 44AB, the return is required to be e - Filed using any one of the three manners namely i) Digital Signature Certificate (DSC) or ii) Electronic Verifi cation Code (EVC), or iii) Verification of the return in Form ITR - V.
  2. In all cases of company the return is required to be e-Filed under digital signature (DSC)
  3. In the case of a person required to file ITR - 7:
    • For a political party the return is required to be e - Filed under digital signature (DSC)
    • In any other case of ITR 7, the return is required to be e-Filed using any one of the three manners namely i) DSC or ii) EVC or iii) ITR V D.
  4. In case of Firm or Limited Liability Partnership or any person (other than a person mentioned in 1, 2 & 3 above) who are required to file return in Form ITR - 5
    • Where accounts are required to be audited under section 44AB, the return is required to be e - Filed under digital signature (DSC)
    • In any other case the return is required to be e - Filed using any one of the three manners namely i) DSC or ii) EVC or iii) ITR V.
  5. A company and an assessee being individual or HUF who is liable to audit u/s 44AB are required to furnish Form BB (Return of Net Wealth) electronically using DSC.
  6. Information to be furnished for payments, chargeable to tax, to a non - resident not being a company, or to a foreign company in Form 15CA.
  7. Appeal to the Commissioner (Appeals) in Form 35.

Comments

Post a Comment

Popular posts from this blog

Work certified and uncertified

Meaning of Work Certified  When contractor takes the contract to complete any construction work, it may complete in 4 or 5 years. but contractor has to pay different expenses for material, labor and others. So, it is very necessary to pay him some money of contract. This money is given on the basis of work done. So, any part of construction which is completed by contractor will be work certified if it is certified by an authority. Authority may be independent engineer or architect who can estimated the work. He will issue the certificate of work done after certifying the work of construction. On this work certified, contractor has right to get money of contract. Meaning of Work Uncertified Work uncertified means work done but not certified by authority. So, contractee will cut some money on the basis of work uncertified and will keep in his pocket. This will be retention money. Accounting Treatment of Work Certified and Work Uncertified  (I) Work  certified and work unce
Read more

factors influencing choice of advertising agency

The Advertiser looks for an advertising agency whose services and expertise meets his requirements. Following factors should be considered while selecting an advertising agency:- Services offered by Ad-agency  - There are different agencies provides different services, some provides all the services, some provide selected services, some provides only media services. It depends on the requirement of advertiser whether he need a fulls service agency, creative boutique, media buying service agency, or a  sweet shop . Experience of Agency  - An experienced agency performs better then a new agency  because it is familiar with different components of marketing environment like- competitors' policies, taste of consumer, income of consumer, consumer responses, fashions and trends, reputation of different media etc. Location  - A major factor to be considered while selecting ad-agency is location of office of agency. A considerable amount of communication is required at diffe
Read more

Sale of Goods Act- Conditions and Warranties

Image
The Sale of Goods Act, identifies the terms, ‘Conditions’ and ‘Warranties’ as being of a prime significance in a contract of sale. Both the terms imply a promise that is made by the seller. However, the difference between Conditions and Warranties arises due to the nature of the promise that is made in each case. In the case of ‘Condition’ the impact is on the very essence of the contract; whereas, in the case of ‘Warranty’, the promise is in the nature of a collateral to the main purpose of the contract. It is thus evident that if there is a breach of either, a condition or a warranty, the effects will be different. Illustration 1:   Sita bought a wet grinder from an electric shop. The purpose for which the grinder was to be used was known to the seller. The grinder was unfit for the purpose. In this case there is a breach of an express condition by the electric shop and Sita is entitled to return the grinder and be refunded the money paid. Illustration 2:   Varuna bought a
Read more