Changes in ITR Forms A.Y. 2018-19 CA PRERNA PESHORI
Obligation to file ROI Who is obliged? Who is not obliged? Company Firm a person other than a company or a firm, if his total income (without giving effect to Sec. 10(38)/Sec.10A/B/BA/ Chapter VIA) or the total income of any other person in respect of which he is assessable under this Act during the previous year exceeded the maximum amount which is not chargeable to income-tax ROR who at any time during the previous year, (a) holds, as a beneficial owner or otherwise, any asset (including any financial interest in any entity) located outside India or has signing authority in any account located outside India; or (b) is a beneficiary of any asset (including any financial interest in any entity) located outside India NR if having only dividend and interest income [Sec. 115A/AC] NRI having only investment income or LTCG or both [Sec. 115G] NR foreign citizen or NR sports association [Sec. 115BBA(2)]
Due Date for Filing ROI Assessee Company a person (other than a company) whose accounts are required to be audited under this Act or under any other law for the time being in force a working partner of a firm whose accounts are required to be audited under this Act or under any other law for the time being in force in the case of an assessee who is required to furnish a report referred to in section 92E Due date any other assessee July 31 September 30 November 30 Belated/revised ROI Before the end of the relevant AY (March 31)
Key Changes by FA 2017 having impact in ITR Tax Slabs Individual/HUF/AOP & BOI/ Artificial juridical person Taxable Income upto Rs. 2.5 Lakhs (Senior citizen Rs. 3 Lakhs) Rs. 2.5 Lakhs Rs. 5 Lakhs (Super Senior Citizen Nil upto Rs. 5 Lakhs) Tax rate Rs. 5 Lakhs Rs. 10 Lakhs 20% Rs. 10 Lakhs 30% Surcharge Taxable Inc > Rs. 50 Lakhs Taxable Inc > Rs. 1 Cr. Nil 5% 10% 15% Rebate Rs. 2500 if Resident individual s TI < Rs. 3.5 Lakhs
Snapshot Nature of income ITR 1 (RESIDENT) ITR-2 ITR-3 ITR -4 Income from salary/pension (for ordinarily resident person) Income from salary/pension (for RNOR & NR person) - Income or loss from one house property (excluding brought forward & carried forward losses) - Income or loss from more than one house property - - Agricultural income exceeding Rs. 5,000 - Total income exceeding Rs. 50 lakhs -
Snapshot Nature of income ITR 1 (RESIDENT) IFOS (other than winnings from lottery and race horses or losses under this head) IFOS (including winnings from lottery and race horses or losses under this head) ITR-2 ITR-3 ITR -4 - - Capital gains/loss on sale of Capital assets - - Interest, salary, share of profit, etc. received by a partner from a partnership firm. - - - Income from business or profession (Non Speculative) - - - Income from presumptive business - -
Snapshot Nature of income ITR 1 (RESIDENT) ITR-2 ITR-3 ITR -4 Income from Speculative Business and other special incomes - - - Income from an agency business or income in the nature of commission or brokerage - - - Income from foreign sources/assets/any account outside India - - Claim of relief of tax under sections 90, 90A or 91 - - Dividend income exceeding Rs. 10 lakhs taxable under Section 115BBDA Voluntary offer of income under Sections 68, 69, 69A, etc. [taxable at 60% u/s 115BBE) - - - - Adjustments of Brought Forward Losses of earlier years - -
Snapshot Status of assessee ITR -4 ITR-5 ITR - 6 ITR -7 Firm (excluding LLPs) opting for presumptive taxation scheme Firm (including LLPs) Association of Persons (AOPs)/Body of Individuals (BOIs)/Local Authority/Artificial Juridical Person Companies other than companies claiming exemption under Sec. 11 Persons including companies required to furnish return u/s 139(4A)/(4B)/(4C)/(4D)/(4E)/(4F)
Key Changes by FA 2017 having impact in ITR Corporate tax rate for the A.Y. 18-19 for companies with annual turnover up to Rs.50 crores (in F.Y. 2015-16) is reduced to 25%. In case of IND-HUF carrying on non-specified business / profession, turnover limit u/s 44AA (2) for non-maintenance of books of accounts, the turnover limit is increased to Rs 25 Lacs and income limit increased to Rs. 2.5 Lacs and for others the turnover limit is increased to Rs 10Lacs and income limit increased to Rs. 1.2 Lacs Loss under the head House Property can be set off against income under other heads of income to the extent of Rs. 2 lakhs only. Holding period in respect of Land and Building: reduced to 2 years. Base year has been shifted from 01/04/1981 to 01/04/2001 with new CII from year 2001-2002. Sec. 194-IB requires tax to be deducted on rent > Rs. 50,000 p.m.
Key Changes by FA 2017 having impact in ITR Applicability of Sec. 115BBDA extended to all resident taxpayers except a domestic company, funds or institutions as referred to in Section 10(23C) (iv)/(v)/ (vi)/(via) and a trust registered under Section 12A or 12AA Section 10(38) has been amended to provide that exemption on LTCG on listed shares/units would be available only when STT paid both at the time of purchase as well as sale [Class of acquisition transactions which are not chargeable to STT and to which the section applies has been notified by Not. No. 43/2017 dt. 05.06.17]. A new section 115BBG has been introduced ~ income from transfer of carbon credits - taxable @ 10% (plus applicable surcharge and cess). No expenditure or allowance shall be allowed from such income. Increase in time limit to carry forward MAT and AMT credit to 15 years Cash payment in excess of Rs. 10,000 would be disallowed
Key Changes by FA 2017 having impact in ITR Penalty u/s 234F Assessees shall now be required to pay the late filing fees u/s 234F along with interest u/s 234A/B /C before filing of return of income. A new field under computation of tax liability has been added where late filers need to provide the details of late filing fees paid. [ITR-1 to 7] Particulars Amount Income below Rs. 5 Lakhs Rs. 1,000 Other cases Return filed on or before Dec 31 Rs. 5,000 Return filed after Dec 31 Rs. 10,000
Key Changes by FA 2017 having impact in ITR Changes Depreciation Remarks & relevant changes CBDT has restricted highest rate of depreciation to 40% ~ all block of assets which were eligible for depreciation at the rate of 50%, 60%, 80% or 100% would be eligible for depreciation at the rate of 40%. new ITR Forms [ITR 3,5,6] have replaced the depreciation column of 50/60/80/100 percent with 40% in case of plant & machinery columns have also been inserted to enable the entities to claim proportionate depreciation in the event of business reorganisation, i.e., demerger, amalgamation, etc. New disallowance to be made in respect of depreciation under section 38(2) if an asset is not exclusively used for business purpose.
Key Changes by FA 2017 having impact in ITR Changes Sec.50CA CG on unquoted shares - consideration for transfer of such unquoted shares shall be deemed to be the fair market value calculated as per Rule 11UA and 11UAA as on the valuation date if the sale consideration is less than its Fair Market Value Remarks & relevant changes New ITR requires following information [ITR 2,3,5,6 and 7] Actual sales consideration FMV determined as per Rule 11UA Deemed full value of consideration (higher of A or B)
Key Changes by FA 2017 having impact in ITR Changes Sec.56(2)(x) Expanded scope of gifts -Finance Act, 2017 has widened the scope of provisions dealing with the taxability of gifts extending to all taxpayers [Sec. 56(2)(x)]. However, certain sums of money have been kept out of the scope of Sec. 56(2)(x). Remarks & relevant changes new columns have been inserted in all ITR forms except ITR 1 and ITR 4 under 'Schedule OS' to report any income as specified in Sec. 56(2)(x). Aggregate value of sum of money received without consideration. In case immovable property is received without consideration, stamp duty value of property. In case immovable property is received for inadequate consideration, stamp duty value of property in excess of such consideration In case any other property is received without consideration, fair market value of property. In case any other property is received for inadequate consideration, fair market value of property in excess of such consideration.
Key Changes by FA 2017 having impact in ITR Changes Remarks & relevant changes Capital Gains Info relating to capital gains exemption to be furnished in detail [ITR 2,3,5 and 6]: Details of each capital gains exemption under Sections 54, 54B, 54D, 54EC, 54EE, 54F, 54G, 54GA, 54GB and 115F shall be reported in its applicable column now. Date of transfer of original capital asset In case of section 54GB, the amount utilised for subscription of equity shares of eligible company, the date of subscription, cost of new plant and machinery purchased by the eligible company, the date of purchase of new plant and machinery also need to be given. Section 58 now provides for disallowance u/s 40(a)(ia) on nondeduction of tax or where tax is deducted but not deposited on or before the due date for filing of return of income New column introduced [ITR 2,3,5,6 and 7]
Key Changes by FA 2017 having impact in ITR Changes Sec. 59 - Profit chargeable under Section 59 relating to cessation of liability under Section 41(1) ICDS Remarks & relevant changes new column introduced (ITR-2, ITR-3, ITR-5, ITR-6 & ITR-7) In earlier ITR Forms, net impact of ICDS on the profit or loss of the assessee was required to be reported in Part A of OI. The new ITR Forms require separate reporting of both profit and loss (and not on net basis) in Schedule OI, Schedule BP (Computation of income from business or profession) and Schedule ICDS. [ITR 3, 5 and 6]
General Changes in ITRs The information on TDS of current financial year has to be bifurcated into deducted in own hands and deducted in the hands of spouse or any other person as per Rule 37BA(2) claiming of TDS credit as per rule 37BA (details of Income, TDS, PAN of the person has to be furnished in this case). Likewise, detailed information on similar lines is required in respect of TDS credit claimed ~ allow Dept. to easily correlate the PAN, amount of income and TDS thereon as disclosed by both the parties in their respective return of income (ITR 2-7) Removal of 'Gender' from personal information [ITR 2, 3 and 4]
General Changes in ITRs Income from transfer of carbon credits under Section 115BBG chargeable at special rates ~ reporting of such income and tax in ITR (ITR-2, ITR3, ITR-5, ITR-6 & ITR-7) Also following additional information needs to be given for the assessees registered with GST (ITR-3, ITR-5 & ITR-6): Detailed analysis asked with respect to business transactions with registered and unregistered suppliers under GST. Details of GST paid and refunded. Schedule PL has been modified to include GST related details; Income: GST Received or receivable in respect of Goods Sold or supplied - (Part A- P&L, Point 1C) Expenses: GST paid or payable in respect of Goods and service purchased - (Part A-P&L, Point 7) Expenses: GST paid or payable to Government (excluding taxes on income) - (Part A- P&L, Point 36) Refund of GST not credited to Profit and loss account - (PART A-OI, 5) Amount of credit outstanding in account in respect of GST - (Part A-OI, 12)
General Changes in ITRs In case of non-residents, the requirement of furnishing details of any one foreign Bank Account has been included for the purpose of credit of refund. This will ensure that the Non Resident Assessees can get the refund directly to their account ~ For this purpose, SWIFT Code and IBAN needs to be reported Assessee claiming DTAA relief is required to report more details in case of CG/IFOS [ITR 2,3,5 and 6]
General Changes in ITRs As per section 115B, where the total income of an assessee includes any profits and gains from life insurance business, the profits of life insurance business is taxable at a special rate of 12.5%. The profit u/s 115B is taxable in the Schedule SI of ITR-5 & ITR-6. The change is made in ITR 3, 5 & 6 now the assessee has one more option of payment i.e. electronic clearing system and the limit of 20,000 is decreased to Rs. 10,000. Now, the deduction is allowed u/s 43B to the assessee for interest payment to the co-operative bank other than a primary agricultural credit society or a primary co-operative agricultural and rural development bank also. Therefore, this particular payment is added to both the clauses if debited but disallowable and disallowed but allowable in Part A- OI (Other Information) and the assessee have to fill the column whichever is applicable. (Applicable for ITR 3, 5 and 6).
ITR 1 Applicability ROR Individual Salary, One House Property (no b/fwd or c/fwd of loss), Other Income (i.e. Interest) Total income upto Rs 50 Lakhs In case of clubbing of income, return in ITR-1 can be filed only when such income falls in any of the above categories. Non applicability Non-resident or RNOR Income from more than 1 HP Total income exceeds Rs. 50 Lakhs Foreign income/assets Capital gain/loss Winnings from lottery/race horses Agriculture inc > Rs.5,000 Unexplained income Dividend inc > Rs. 10 Lakhs
Key Changes in ITR-1(Sahaj) 1 page form Up to last year, an assessee was required to mention only the taxable figure of salary income and income from house property in these ITR forms. Detailed break-up of salary i.e. basic salary, exempt allowances, profit in lieu of salary, deductions u/s 16 Detailed break-up of income from house property i.e. annual value, municipal taxes paid, standard deduction and interest on borrowed capital.
ITR - 2 Individual/HUF not having income from profits and gains of business or profession Earlier partners having income from firm could use ITR-2, now, they can file in ITR-3 Applicability ROR/RNOR/NR Salary/pension/ IFOS (incl. winnings from lottery/race horses) Income from more than 1 HP/ b/fwd/c/fwd losses from HP TI > Rs. 50 Lakhs Agriculture inc > Rs. 5,000 Capital gains/losses Foreign income/assets Claim of FTC B/fwd losses Dividend > Rs. 10 Lakhs u/s 115BBDA Unexplained investment/income u/s 115BBE Non-Applicability Business/Profession Income Partner of firm having share in profit/interest/salary/commission from firm`
ITR - 3 Individual and HUF All incomes including business income
ITR - 4 Individual, HUF and Firm (other than LLP) Applicability Presumptive Income computed as per provisions of Sections 44AD, 44ADA and 44AE Salary, One House Property (no b/fwd or c/fwd of loss), Other Income (i.e. Interest) Total income upto Rs 50 Lakhs In case of clubbing of income, return in ITR- 1 can be filed only when such income falls in any of the above categories. Non applicability Non-resident or RNOR Income from more than 1 HP Total income exceeds Rs. 50 Lakhs Foreign income/assets Capital gain/loss Winnings from lottery/race horses Agriculture inc > Rs.5,000 Unexplained income Dividend inc > Rs. 10 Lakhs
ITR -4 Key Changes Information relating to GST is required to be given, if the assesse is registered with the Goods & Service Tax Authorities. The details sought are as under: Detailed disclosure of salary and IFHP GST Number and the Turnover/Gross Receipt as per GST return filed. It should be ensured that the details provided are verified correspondingly with GST Returns, if applicable and also with Form 26AS. New ITR 4 for A.Y.2018-19, as against previous form wherein only Sundry Debtors, Sundry Creditors, Stock-in-trade and Cash Balance, seeks additional information details of partners/ members own capital, secured and unsecured loans, advances and other liabilities. Fixed assets Inventories balance with banks, loans and advances and other assets. However Explanation (f) to section 139(9) mandates reporting of only turnover/ gross receipts, gross profit, expenses, net profit, total debtors, creditors, stock in trade and cash balance as at the end of financial year, for the return to treated as valid return of income.
ITR -4 Key Changes
ITR 4 Key points You can declare presumptive income at 6% for credit sales while filing your income tax return. The benefit of reduced rate of 6% will be available even if the proceeds of credit sales are received after the previous year but before due date of filing return under Section 139(1).
ITR -5 Firms, LLP, AOP, BOI All Income other than income claimed exempt under Section 11 E-filing mandatory Yes DSC Mandatory in audit cases
ITR - 6 Companies other than those claiming exemption u/s 11 All incomes E-filing mandatory Yes DSC Mandatory
ITR 6 - Key Changes For Ind AS Compliant companies, Part A General info seeks whether compliant with IND-AS new Part A-BS-Ind AS and Part A-P& L Ind AS. A new Schedule FD has been added requiring for break-up of payments/ receipt in foreign currency (to be filled up by an assessee who is not liable to get accounts audited u/s 44AB), in the following format A new column has been inserted in ITR 6 to provide details of apportionments made by the companies from the net profit for the CSR activities. It needs to be ensured that the sums reported reconciles with the Financial Statements
ITR 6 - Key Changes MAT Adjustments for Ind-AS Compliant companies, adjustments for permissible deductions/allowances, have now been provided. Changes have also been made in the Schedule MAT wherein information relevant to Ind AS Compliant companies as per sub-section (2A) to (2C) to section 115JB has to be furnished. This will enable correct computation of profits under section 115JB. The new ITR 6 requires every unlisted company to provide details of all beneficial owners who are holding 10% or more voting power (directly or indirectly) at any time during the year 2017-18 (if available). These companies are required to provide the name, address, percentage of shares held and PAN of the beneficial owners.
ITR 6 - Key Changes New Schedule for company, who is not required to get its accounts audited under Section 44AB, to provide following details in respect of all transactions entered into during the year with a registered or unregistered supplier under GST:
ITR - 7 Trust, Political parties Persons including companies required to furnish return u/s 139(4A)/139(4B)/139(4C)/139(4D)/139(4E)/139(4F) E-filing mandatory DSC mandatory for political parties
ITR 7 Key Changes Section 12A registered trusts to loose exemption u/s 11, if ROI filed after due date u/s 139(4A) Cash donations made to charitable trusts/institutions exceeding Rs.2000 will not be eligible for deduction under section 80G. Any corpus donation made out of its income by section 12AA registered trust to another section 12AA registered trust shall not be treated as application of income for charitable or religious purposes A political party will lose its tax exemption if donation exceeding Rs. 2,000 is received other than by an account payee cheque or draft or ECS or electoral bonds. Further, political parties filing return u/s 139(4B) are required to file the same on or before due date specified u/s 139 of the Act.
ITR 7 Key Changes Under Details of the projects/institutions run by you Following additional details are now required to be disclosed : - : Aggregate annual receipts of the projects/institutions run by the trust. Date of registration or approval granted to the trust Amount utilized during the year for the stated objects out of surplus sum accumulated during an earlier year. In Schedule TI(Statement of Income) all the corpus donations made by a trust to another registered trust shall be added back to the taxable income of the donor trust.
ITR 7 Key Changes The additional information relating to the compliance of other sections have now been incorporated in the return form. The same are summarized as under: Form 9A requires trust to confirm if it has filed Form 9A (in case application of Income of trust falls short of 85% ) and the date of filing of such form. Additional Declaration required in case of political parties - to confirm if cash donations exceeding Rs 2000/- are received [Section 13A]. Details of fresh registration upon change of objects [Section 12A(1) (ab)] Date of change in objects. Whether application for fresh registration has been made within stipulated time period? Whether fresh registration has been granted? Date of such fresh registration. d. Amount utilized during the year for the stated objects out of surplus sum accumulated during an earlier year. All dividends in excess of Rs. 10 lakhs which are taxable under Section 115BBDA shall be disclosed in the Schedule OS (Income from other sources) and Schedule SI (Income chargeable to tax at special rate).
ITR 7 Key Changes Following additional disclosure is now required under point:- Party 4) Whether any donation exceeding two thousand rupees was received otherwise than by an account payee cheque or account payee bank draft or use of electronic clearing system through a bank account or through electoral bond? 7) Whether the return of income for the previous year as per provisions of section 139(4B) was furnished within the due date under section 139? A political party is now required to disclose more information about the auditor who is signing the audit report of the political party.
Requirement of E-filing & DSC Particulars ITR-1 ITR-2 ITR-3 ITR-4 ITR-5 ITR-6 ITR-7 E-Filing Mandatory Yes Except: Super Senior Citizens, Income below Rs. 5 Lakhs and No Refund Yes Yes Yes Except: Super Senior Citizens, Income below Rs. 5 Lakhs and No Refund Yes Yes Yes DSC Mandatory Optional Optional Optional Optional Mandatory in Audit Cases Mandatory Mandatory for political parties
Manner of verification Note: The options available for e-verification of the ITRs where digital signature is not mandatory are:- a) Through Net Banking or Demat Account, if the bank account is linked with mobile and the bank is scheduled or nationalized bank; b) Through Aadhar OTP; c) Those assessees who have income below Rs. 5 Lacs, has the option to e-verify through email OTP and Mobile OTP; d) By sending the ITR-V signed physically through Post at CPC, Bengaluru within 120 days either by ordinary post or by speed post only: Income Tax Department - CPC, Post Bag No.-1, Electronic City Post Office, Bangalore -560100, Karnataka
Manner of verification
Certain Concerns Claim of Foreign Tax Credit u/s 90/91 especially when credit u/s 115JB/JAA is claimed ~ levy of Surcharge & Cess Carry forward of TDS Credit Inter-head set-off of losses ~ since no priority of losses is defined Difference in accounting systems by deductor & deductee Carry forward of losses within time limit disallowance of expenditure indicated in the audit report but not taken into account in computing the total income in the return;
Checklist Form 16 ~ITR form-1 requires salaried taxpayers to provide the salary break-up ~ Part-B of Form 16 would enable reconciliation and Salary slips for HRA, transport allowances Form 16-A/B/C Form 26AS Tax saving investment proofs Details for CG Whether a tax audit is required? DSC requirement Details of foreign assets Details of personal assets if TI>Rs. 50 Lakhs
Precautions to be taken Reconciliation of disclosed Income with Form 26AS. Claims for TDS of earlier years on account of difference in method of accounting i.e. deductor following mercantile and deductee follows cash system. There should not be under reporting / mis-reporting of Income in Return or claims to avoid penalty u/s 270A. Deductions claimed from Capital Gains in earlier years on account of investments (i.e. Capital gains investments in capital gains scheme account for subsequent investment) and no subsequent investments made thereafter in the time specified. Claims and deductions under Chapter VIA should not be made out of exempt income/non-taxable income. Voluntary disallowance u/s 14A, if applicable may be computed and shown in the return Voluntary offer of income u/s 68, 69, 69A, 69B, 69C, 69D in ITR to get immunity from penalty u/s 271AAC, etc
How to file return electronically? 1. Visit https://incometaxindiaefiling.gov.in; 2. Choose the applicable ITR form (Refer to FAQ No. 1) and download excel utility or java utility. Assessees, who are required to file ITR-1 or ITR-4, may also file the return directly from e-filing portal without downloading the Excel or Java utility. 3. Prepare the ITR in Excel utility or Java utility and generate XML file. 4. f you don't have an account on the website of incometaxindiaefiling.gov.in, you need to create the account first from the following link: https://portal.incometaxindiaefiling.gov.in/e-filing/registration/registrationhome.html?lang=eng 5. After creation of account, you need to login in and then click on link of 'Filing of Income Tax Return' given on the Dashboard. 6. Select the 'Assessment Year', and 'Form Name' and Submission Mode. 7. Select 'Upload XML' under submission mode and then click on the option to verify Income-tax return. If you don't want to verify return later on then just select 'I don't want to verify this Income Tax Return ' and click on continue to upload generated XML file. 8. Click on Choose file to select the generated XML file and Submit it 9. On successful submission of ITR form, a pop-up menu will be displayed on the screen to e-verify uploaded return.
Aadhaar-PAN linking 1. Login to e-filing portal https://www.incometaxindiaefiling.gov.in 2. Go to 'Profile Settings' and click on 'Link Aadhaar' 3. Enter your 'Aadhaar number', 'Name as per Aadhaar' and click on 'Link Aadhaar'. In case you Aadhaar Card is carrying just year of birth then you have to check on the option on 'I have only year of birth in Aadhaar Card' 4. You are also required to give consent to validate Aadhaar details with UIDAI in order to complete process of linking. 5. If the details as per PAN and Aadhaar are same, the linking shall be done automatically.
Aadhaar-PAN linking Different modes to link Aadhaar with PAN (a) SMS: Send SMS to 567678 or 56161 from your registered mobile number in the following format: UIDPAN <SPACE> <12 Digit Aadhaar Number><SPACE><10 Digit PAN> For E.g., UIDPAN 123456789000 EPOPE1234E (b) Online (c) Paper mode: File one page Form along with minimal fee with the designated PAN centre. Copies of PAN card, Aadhaar card are to be furnished. Aadhaar number cannot be linked with PAN if there is any mismatch in the name entry in the records of Aadhaar and PAN. Taxpayers are required to rectify either of the documents, PAN or Aadhaar, so as to complete the process of linking these two records.
Why am I not able to link my Aadhaar with PAN, though my name as per Aadhaar and PAN is same? Phone number of taxpayer is not updated in Aadhaar database Gender Mismatch Date of birth As per proviso to Sec 139AA(2), in case assessee fails to intimate the Aadhaar Number, the PAN allotted to the person shall be treated as invalid and the other provisions of this Act shall apply, as if the person had not been allotted PAN. In the case of Binoy Viswam v. Union of India [2017] 82 taxmann.com 211, the Supreme Court has partially stayed the operation of Proviso to Section 139AA(2). It held that if the assessee does not have the Aadhaar number then PAN should not be considered as invalid. E-filing website doesn't allow filing of ITR without linking Aadhaar number with PAN. However, recently, the Kerala and Gujarat High Courts in the cases of Prasanth Sugathan v. UOI [2017] 84 taxmann.com 73 (Kerala) and Bandish Saurabh Soparkar v. UOI [2017] 87 taxmann.com 48 (Gujarat)respectively allowed taxpayers to file their returns manually without furnishing the Aadhaar number or enrollment ID of Aadhaar application form. The Courts held that taxpayers who do not have Aadhaar have to be allowed to file their returns before department in hard copy for relevant year as an interim measure. Therefore, it is suggested that you should file the ITR manually by visiting jurisdictional income-tax office by relying on the above judgement. A covering letter should also be attached with the ITR mentioning that the taxpayer has opted to file the return manually relying on the aforesaid High Court Cases. You are also required to mention the reason why Aadhaar number couldn't be obtained before the end of due date of filing of ITR.
Aadhar-PAN linking The Govt. has notified June 30, 2018 as the last date for linking of Aadhaar with PAN. Taxpayers may not be allowed to file the return post 30th June without linking the PAN and Aadhaar. Also, if they have already filed the return it may not get processed by the tax authorities.
Refund on incorrect account number You can submit your correct bank account number after selecting option of refund reissue. Procedure to apply for refund reissue is outlined hereunder: 1. Login to https://incometaxindiaefiling.gov.in 2. Go to 'My Account' and select 'Service Request'. 3. Select Request Type as 'New Request' and then choose 'Refund Reissue' under request category. 4. Update bank account details. 5. Click on submit.
Outstanding demand on processed returns Now a facility has been made available to taxpayers on the E-filing website (i.e., www.incometaxindiaefiling.gov.in) to provide online responses to such demands. The actions required to be performed by the taxpayer are prescribed as under: 1. Login to https://incometaxindiaefiling.gov.in then go to e-file menu and click on 'Response to Outstanding Tax Demand". 2. Select one option out of the following: (a) Demand is correct; (b) Demand is partially correct; (c) Disagree with demand 3. If option of "Demand is correct" is selected then a pop up is displayed as "If you confirm "Demand is correct" then you cannot 'Disagree with the demand'. If any refund is due to assessee then outstanding demand along with interest will be adjusted against refund. If no refund is due to assessee then taxpayer has to immediately pay the demand. 4. If an option of "Demand is partially correct" is selected then taxpayer is required to enter the "Amount which is correct" and "Amount which is incorrect". After selecting amount which is incorrect taxpayer should mandatorily fill up reasons from the specified list. 5. If an option of "Disagree with demand" is selected then taxpayer is required to furnish the details of disagreement with demand along with the reasons from the specified list.
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