All India ITR - Your Personal Tax Expert

Relief For Taxpayers: CBDT Extends PAN, Aadhaar linking by 3 Months to 31 December'19

2019-10-03T16:22:00.000+05:30

In a relief to taxpayers, the Central Board of Indirect Taxes has extended the deadline to link PAN with Aadhaar to December 31, 2019. Earlier, the last date was September 30, 2019. This notification is issued for the taxpayers who have not linked their PAN with their Aadhaar. As per the Tax Administration, the PAN which will not be linked with the Aadhaar by 31.12.019 shall become inoperative and therefore, it cannot be used for any financial transaction. However, the government is yet to notify the implications of inoperative in case PAN is not linked with Aadhaar.

"The CBDT granted another 3 months extension to link the Aadhaar with PAN. As per the recent amendment by the Finance (No. 2) Act, 2019, if a taxpayer does not link his PAN with Aadhaar number by the due date then the PAN of the taxpayer shall be deemed to be inoperative. A taxpayer will not be able to quote his PAN if it becomes inoperative. The dept. has not yet prescribed how an inoperative PAN shall be made operative again. Thus, to avoid any inconvenience which may cause to the taxpayer, the board has extended the cut-off date, says CA Naveen Wadwa.

If the individual's PAN becomes 'inoperative' it will be treated as if the person is not holding the PAN and he would be not entitled to conduct and financial transactions where it is mandatory to enter the PAN details.

How to link PAN with Aadhaar?

In the last Union Budget in July 2019, the government has proposed a law making necessary for every individual to link PAN with Aadhaar while filing income tax return online. Here are three ways to link your PAN with Aadhaar-

As per the income tax department, you can link PAN with Aadhaar by using either online mode or through SMS service-

Link Aadhaar with PAN through income tax e-filing website

To link a PAN with Aadhaar online, the assessee is required to log in to the e-filing portal, according to the Income Tax Department.

Link Aadhaar with PAN through SMS service

The Income Tax Department also provides an SMS-based facility to enable the linking of Aadhaar with PAN online.

Thus, every individual must link the PAN with the Aadhaar. As section 139 AA (2) of the Income Tax Act, every person having PAN as on July 1, 2017, must intimate his or her Aadhaar number to tax authorities. Moreover, Aadhaar linked with PAN enables taxpayers to verify their returns through OTP sent to their phone number at the time of ITR Filing. Meanwhile, this is the seventh time that the government has prolonged the deadline for individuals to link their PAN with Aadhaar.

For more details about efiling of income tax return online visit our website: https://www.allindiaitr.com

CBDT extends ITR filing deadline for Audit Cases by a month to 31 October 2019

2019-10-01T14:40:00.000+05:30

The Central Board of Direct Taxes (CBDT) has extended the Income Tax Return filing deadline for audit cases from 30^th September 2019 to 31^st October 2019. As per the Income Tax Act Rule, the ITR should be file by those entities who are assessed under section 44AB of the income tax such as companies, partnership firms & proprietorship. In addition, those businesses whose total sales, turnover or gross receipts exceed Rs 1 crore in the financial year is eligible for Tax Audit.

The income tax department took to microblogging site Twitter and shared the post, saying "on consideration of representations received from across the country, CBDT has decided to extend the due date for ITR Filing & Tax Audit Reports from 30th Sep 2019 to 31st of Oct, 2019 in respect of persons whose accounts are required to be audited," the CBDT said in a late-night statement.

Look at the applicability in Tax Audit under the following conditions-

Must be a person under the Income-tax Act
Must carry on business or profession
Must maintain books of account
Object to earn profit or gain
Profit or gain comparable under Chapter IV
Income is Taxable or Loss allowable under Act

Who is required to get their accounts audited?

Individual/Proprietorship
HUF
Company
Partnership Firm
AOP/BOI
Local Authority
Co-operative

Objective of Tax Audit

As the name suggests, the Tax Audit specifies the proper analysis or audit of accounts of any business or profession carried out by taxpayers from an income tax perspective. Even though it makes the process of income computation for filing of return of income easier. Here are the objectives of a tax audit-

· Ensure proper analysis and correctness of books of accounts and certification of the same by a tax auditor.

· Checks frauds and malpractices in filing income tax returns.

· To note down any discrepancies while reporting observations of books and accounts by a tax auditor.

· To report prescribed information such as tax depreciation, compliance various provision of Income Tax Act law.

Penalty for Non-Compliance of Tax Audit

· Non-compliance of tax audit regulations by taxpayers attracts a penalty of whichever is lower from the following:

· 0.5% of total sales

· Turnover or

· Gross receipts

· Rs. 1,50,000

For more details about efiling of income tax return online visit our website: https://www.allindiaitr.com

Finance Minister reduces Corporate Tax to stimulate economy growth

2019-09-30T11:03:00.000+05:30

The Finance Minister, Mrs. Nirmala Sitharaman on 20th September has taken a new decision for the Indian economy by unveiling a tax bonanza for Indian Companies. As per the historic move, Nirmala Sitharaman announced a deduction in the country's corporate tax rate to 22% (effective rate of 25.17% including cess and surcharge) for existing firms, and to 15% (effective rate 17.01%) for new domestic firms in the manufacturing sector. The recent measure has aimed to pull the economy out of a six-year low growth and to address a 45-year high unemployment rate by reviving private investments with a Rs 1.45-lakh crore tax break.

Alternatively, this is one of the major policy reforms since 1991. However, the companies who do not avail any additional incentive or commission, the effective tax rate would be just 22%. Meanwhile, many of India's prominent equity markets applauded the decision, the bond market stuck in between the fear that the government may now have to borrow more to meet its liabilities.

The reduction in corporate taxes could stimulate growth, which will depend on what the companies do with the taxes they have accumulated. There are many IT companies which are likely to benefit from a reduction in corporate tax rates, as per the economic analyst.

Here are the two new provisions petitioned by the Finance Minister to promote growth and investment-

Ø A domestic company has to pay a reduced corporate tax of 22% with effect from the financial year 2019-20. Besides, the reduced corporate tax can be availed on the condition that companies should not claim any exemptions or under the income tax law. For now, the effective corporate tax rate is 25.17% including surcharge ad cess. This provision is not mandatory and domestic companies may either pick the benefits or pay the applicable tax rate and claim the exemptions.

Ø The second reason for the incorporation of such amendment has been introduced to encourage manufactures and boost make in India which will be implemented on or after 1 October 2019. The benefit is available with effect from the FY 2019-20

Corporate Tax in India

According to the Income Tax Act Rule, the Domestic, as well as foreign companies, are liable to pay corporate tax. While a domestic company is taxed on its universal income, a foreign company will be taxed on the income earned within India. The Corporation tax is imposed on the net income of the company, both private and public which are registered in India under the companies act 1956. In addition to that, surcharge at the rate of 5% is levied if net income is in the range of Rs 1 crore to Rs 10 crore. If the net income exceeds Rs 10 cr, surcharge at the rate of 10% is levied.

At last, it would be exhilarating to see this tax cut will give companies a bit more financial space to maintain operations, create more employment and the growth of the economy.

For more details about corporate tax and efiling of income tax return visit our website : https://www.allindiaitr.com

Not Got Your Income Tax Refund Yet? Here's What You Should Do

2019-09-26T10:58:00.000+05:30

Once your income tax return is processed, it almost takes 30-45 days for you to receive the refund. Taxpayers who have filed their income tax return before July 31 might have received the refund by now. On the other hand, Tax assesses who have filed the ITR around August 31 for the financial year 2018-19 are still waiting for the refunds to credit in their account. Well, this time is an appropriate time for the individuals applied for ITR filing to check if they received the refund by the income tax department or not. Moreover, there could be many reasons for a delay in refund process like mistakes in the income tax return filing, discrepancy in income, incorrect bank account details, wrong address, and others.

If you are also among those who still have not received the tax refund, here we've discussed some of the reasons for the delay in getting your refund and what you should do in case of delay-

Mistakes in the Tax-filing

If you haven't received the refund, there are possibilities that you made blunders while ITR filing likes misspell critical personal information or put in wrong details. In such cases, the taxation authority will take time to confirm and verify the same. In addition to this, there could also be mismatches in the figures that you had provided previously and what you did this year. The tax department will check the records thoroughly to confirm if you need to share additional information.

Discrepancy in income or tax amount

This occurs when your form 16 details do not match with the details mentioned in form 26 AS. If there is any discrepancy in the income from various sources, the refund process may get interrupted. Refund also gets delayed where ITR couldn't be processed due to proposed adjustment under section 143(1)(A). Although, in this case, you will be intimated with the new tax demand due to which the process may take a little longer.

Incorrect bank account details

Even if you completed all the formalities and do not give accurate bank details, then it will be difficult for the income tax department to process your refund. The wrong details like a wrong bank account number or IFSC Code, bank account mentioned for refund not being linked with PAN or not pre-validated at the e-filing portal could delay the refund process due to which the taxpayers may have to wait till the time they receive the refund in their account. The taxpayer will be asked by the authority to submit updated bank account details through their income tax India e-filing login on the e-filing portal.

How to check the Income Tax Refund Status?

According to income tax departments e-filing website, there are several steps through which you may know about how to check refund status-

Taxpayers simply log in to the income tax department's e-filing website with registered user id and password. Click on 'View Returns and Forms' on the page. From the drop-down menu, go to select 'Income Tax Returns' and then select the last assessment year after which the income tax refund status will be shown to you.

CBDT Cautions Taxpayers Not to Share PAN Details on Microblogging Sites

2019-09-23T11:08:00.000+05:30

In the recent statement by the Income Tax Department, it has cautioned all the taxpayers who are holding Permanent Account Number to not to disclose their ten-digit alphanumeric number PAN publicly on the internet and social media. The income tax administration stated that sharing personal information on the micro-blogging such as Facebook, Twitter, and other websites can lead to its misuse.

The warning, that also acts as an advisory, comes at a time after noticing that a lot of taxpayers have been asking a question and raising concerns about the processing of Income-tax Returns, ITR refund, etc on Twitter.

Thereafter, the income tax department responded on the same posts or interrogations, warning all such tax assesses to not to mention their details on Twitter. They said that Sharing of personal data, including PAN, can lead to cases of identity theft where villains can make transactions in your name without your knowledge.

May we also request you not to share personal details like PAN on social media to avoid it being misused!" is the standard response of the Income Tax department on Twitter in a reply to all taxpayers who reveal their PAN on the social media site?

However, the Income Tax department has come out with an online inquiry form where if any taxpayers who have any query regarding the income tax returns can ask tax-related questions on the income tax department website. There, individuals can ask questions and get it answered directly from the I-T department officials.

In the form, you will be asked to provide the basic details such as your full name, PAN, assessment year for which the issue is reported, mobile no, email id, your detailed query, and social media user ID. Besides, the form's basic criteria are to answer issued related to e-filing ITR, ITR filing process, and claiming income tax refund status. Once you fill-up the form the income tax department will soon answer your queries or address your concerns.

What happens if someone is using my PAN number for their transactions?

If you share your information at social media then there are chances of suspicious activity. Some people who may try to register on the Income tax website and try to efile income tax return by using your PAN number. In order to register on the site, the person should have to know your surname and date of birth correctly. This can be easily traced by your social profile. So, it is always advisable to be very careful while sharing your details publicly on social media.

For more details about efiling of income tax return online visit our website https://www.allindiaitr.com

Alert: File your GSTR-3B Before 20th Sep '19' and Avoid Penalty

2019-09-20T12:24:00.000+05:30

The last date to file GSTR-3B for the month of August 2019 is 20th September '19'. In case you miss the deadline for GSTR-3B, you will be legally responsible to pay a late fee and penalty charges. As per the Central Board of Indirect Taxes and Customs, the delay will impose a fine of Rs 50 per day whereas Taxpayers with Nil Tax Liability will be fined Rs 20. The application will be auto filing by nature. The taxpayers just need to provide the sales and purchase value for the same. Furthermore, the GSTR-3B must be filed every 20th of the subsequent month.

On top of that, in a major relief move, the taxpayers who file nil returns now need to file a simple return form with minimum details. Before this implementation of new functionality, nil return taxpayers are relieved of the erstwhile extra details that had to be provided.

Reconciliation of GSTR-1 with GSTR-3B is needed to:

Rs. 50 per day of delay
Know if any invoice is missed out or duplicated
Rs. 20 per day of delay for taxpayers having a Nil tax liability for the month
Interest @ 18% per annum is payable on the amount of outstanding tax to be paid.

Who should file GSTR 3B?

GST mandates that every individual who has registered for Goods and Services Tax (GST) is eligible to file the return GSTR-3B including nil returns. However, the following registrants do not have to file GSTR-3B

Supplier of OIDAR
Non-resident Taxable person
Input services Distributors & Composition Dealers.

Details to be mentioned in GSTR-3B Form

GSTR-3B is divided into six categories and each section contains particular fields which should be mention by the person applied for filing of GSTR-3B-

Here's what you need to mention under GSTR-3B-

Primarily, provide GSTIN in case you do not have a GSTIN than you can use your provisional id as your GSTIN.
The next field is to enter the legal name of the registered person. Moreover, the field is auto-populated after entering GSTIN
Outward supplies and inward supplies on reverse charge i.e. Details where tax is payable by you

ITR Filing: Know All About Intimation Notice by the Income Tax Department U/S 143(1)

2019-09-13T12:34:00.000+05:30

After the Income Tax Department has processed the income tax return, it will send an intimation notice to taxpayers under section 143(1) of the Income Tax Act 1961. The individuals who have filed their Income Tax Return for the financial year 2018-19 will receive the intimation on the registered e-mail Address same as registered in the e-filing account. The notice will inform you whether the income tax computation in the ITR filed by you matches as per the record.

This process includes the estimation of any errors, internal and external inconsistencies, tax & interest calculation and verification of tax payment, etc. Therefore, it is more like a prima facie valuation by the tax officials to check whether the information is accurate or not. This whole process is called an assessment, in such cases, if there is any mismatch or the department is unable to verify the content and information, it may issue a notice. Previously, these notices were sent by post but currently, they are mailed and also uploaded on the e-filing portal.

If any taxpayers who have applied for ITR filing and do not receive the intimation notice, it means, your tax return acknowledgment will serve as the department’s acceptance of your return.

What to do when you receive an intimation notice?

You might be wondering about what you should do when you receive intimation notice. Well! First, the tax assessee should check if there is any difference in the reports or whether the department has accepted the income and tax numbers filed by you. There are certain steps through which you can check the faults. In case you haven't found any difference then no action required. However, if the figures do not watch, you should carefully check the line in which you have entered the amount considered by the department differs from what you have submitted.

Here are the steps about how to get the intimation notice-

Step 1: Visit income tax india efiling login (www.incometaxindiaefiling.gov.in)

Step 2: Log in to your account. The user ID is your PAN number.

Step 3: In the 'My Account' tab select, the service request option

Highlights of what intimation notice will show under section 143(1)-

Intimation notice received by you under section 143(1) will show some of the discussed points in the below-

· Your income details, deductions claimed and tax calculations match with the tax department's assessments and calculations: In this case the notice will show both tax payable and refundable as zero.

· Additional tax demand notice: When, as per the tax department's assessment, you have not added a particular

· As per the income tax department's assessment, if you have paid additional taxes compared to your actual tax liability, a income tax refund is due to you.

Meanwhile, in case you have not received the intimation by the tax department, the taxpayers can file a complaint on the efiling of income tax return website. Likewise, if your ITR is processed but you can't find the intimation notice in your email, then you can raise a service request for the same.

Don’t forget to Verify your Returns after E-filing

2019-09-11T10:36:00.000+05:30

After you have filed your Income Tax Return it is necessary to e-verify your return. As the ITR filing deadline was August 31, 19 for the financial year 2018-19 thus, all the taxpayers who have furnished ITR should e-verify ITR within 120 days of filing. Because if you do not e-verify the returns than your application for ITR filing will be rejected by the Income Tax Department. Besides this, there are many chances that you may suffer consequences for not verifying your returns.

The Income Tax Administration will only accept the process of income tax return after it is successfully verified by you or else it would be declared invalid. According to the CBDT guidelines, the ITR return needs to be verified within 120 days of the efiling of income tax return. So, it is advisable that you must verify the return as soon as possible.

For verifying your return there are multiple ways in which you can e-verify ITR, you can either choose an online mode or offline. Under the offline procedure, you have to print ITR-V documentwhich you'll receive on the registered email ID and post it to CPC, Bangalore. Whereas, the next option is to e-verify your ITR using Aadhaar-based OTP, net banking, electronic verification code or log in directly to your account on the income tax of India website.

How to send ITR-V to CPC, Bangalore?

Once you filed your return you will receive an ITR V at www.incometaxindiaefiling.gov.in. Hence, to send ITR V to CPC Bangalore, you are required to follow these steps enumerated below:

· You can download a printable copy of your ITR-V from the income tax login portal. To open the document, you must use a password that is a combination of your PAN and date of birth without special characters.

· Before sending it by speed postyou must sign the document in original. If the taxpayer is a company or a firm, then the signature of the authorised signatory must accompany the form.

· Make sure the paper printed on is of A4 sizedoes not have any folds or any other document for that matter.

What documents can I use to e-verify my ITR form?

You can use any of the following:

· AADHAAR number

· Your personal Netbanking account login.

· Digital Signature

· OTP on mobile

If you wish to know more about the process of the e-verifying your return then you can visit our website at www.allindiaitr.com.

Did You Miss the ITR Filing Deadline? Here's what you need to know

2019-09-09T16:56:00.003+05:30

In the tumultuous period of income tax return filing session, numerous taxpayers missed the August 31 deadline for Income Tax Return filing. Did you also miss it? Relax! If you missed the tax deadline you do not need to feel panic about this as there is still a choice to file a belated ITR with penalty fee ranging from 5000 to 10,000. After Income Tax Department has furnished the new rule, from 2019 onwards, those individuals filing returns after the last date is obligated to pay a late fee under section 234EIncome Tax Act 1961. However, the amount of penalty will depend on the tax assesses earned income and the delay of filing ITR.

So, if you also missed the deadline for ITR filing, here's the key point that one should keep in mind before filing a late ITR return-

According to Income tax administration website incometaxindia.gov.in, any taxpayer who has not filed ITR before the due date of the income tax return can furnish the return of their income at any time before 31.03.2020 or the end of the relevant assessment year 2019-20.
A penalty will be imposed for every belated income tax return filing under section 234F.
As per the income tax rule, a fine of Rs. 5000 will be levied on individuals if they file ITR after the due date but before December 31 2019.
The penalty increases to Rs 10,000 if the taxpayers file the return next year between January 1 2020 to March 31 2020.
Those who have Gross Total Income belowRs 5 lakhare required to pay Rs 1,000 for filing ITR after the due date.

What is belated income tax return?

If any individual fails to file their ITR before the due date can efile ITR under sector 139(4) of the Income tax act. The belated return can be filed before the end of the relevant assessment. This means that you can file a belated return for Financial Year 2018-19 by March 31, 2020, i.e., before the end of the current assessment year 2019-20.

As per CBDT, those taxpayers whose annual income is up to Rs. 5 lakh or below is liable to pay a penalty of Rs. 1000. This late will be imposed in addition to any tax liabilities. This decision has been taken by the Income Tax Department with a motive to encourage taxpayers to file their taxes on time.

Meanwhile, this year the efiling of Income Tax Return department has made a tremendous world record as over 5.65 crore income tax returns were filed by the taxpayers. It has shown a 4 percent rise in ITR Filing over the previous year.

Income Tax Department creates a new record with filing of 49 lakh ITRs

2019-09-04T12:13:00.000+05:30

A day after the income tax return filing session has been completed, it has created a new world record of online e-filing ITRs in a single day and that too so easily. As per the Central Board of Direct Taxes, nearly 49 lakh income tax return was filed by the taxpayers on August 31st, 2019 for the assessment year 2019-20. Therefore, the income tax filers boundaries have extended to 4 percent for the financial year 2018-19 compared to the previous year statistics

"The department made history with an all-time high record of 49 lakh 29 thousand ITRs filed in a single day on August 31," Central Board of Direct Taxes (CBDT) said in a statement.

According to live mint research, filing of tax return surged 41% on the last date to 4.9 million filings. Since 27 August e-filing of income tax returns has risen 32-63% as comparison to the last year.Also, in the last five days, the tax department saw 14.7 million e-filing, thus, has made history with a majorfence in the e-filing of ITRs.

CBDT said that out of the 5.65 Cr ITRs filed so far, 3.61 Cr ITRs have been verified. A large number of taxpayers about 2.86 Cr (79%) have opted for e-verification, mostly using Aadhaar OTP.

Highlights of ITR Filing for the AY 2019-20

· Nearly 50 lakh people filed their tax returns online on 31 August, the last date for ITR filing and the peak filing rate per second was at 196 ITRs per second

· Around 5.65 crore ITRs filed whereas, 3.61 crore have been verified

· From August 27 to 31, 1,47,82,095 people filed online ITRs, asurge of 42%as compared to the same period of AY 2018-19

In the last date of ITRs submission, the income tax administration has steadily interacted with taxpayers on social media to help them to resolve their hindrances and e-filing ITR queries and getting acknowledgment in return

Meanwhile, the individuals who haven't filed their returns this financial year could file the ITR after the due date till the end of the fiscal in which the return is to be filed comprising of a penalty and the final figure could go up further.

Income Tax Return Filing Process Becomes Easy like never before

2019-08-14T11:45:00.000+05:30

The Income Tax Department has made income tax return filing process easier like never before. Now, the taxpayers can e-file their returns without any hurdles. A few days back, the Income Tax Authority has implemented newincome tax return filing relief to individuals by facilitating the lite e-filing facility and quick procedure for ITR verification. The facility will be operationalized on the official portal of the department income tax efiling login website in India www.incometaxindiaefiling.gov.in

"Lite e-filing" facility for Taxpayers

This is the lighter version of e-filing portal to make ITR filing quick and easy for taxpayers. The registered users can access this by clicking 'e-filing Lite' option in the home page of income tax e-filing login website. After logging in, the taxpayers will be provided essential links that will enable e-filing of ITRs and get Form 26AS. Apart from this, the taxpayers can also download pre-filled or XML forms and view their past filed returns, among others.

Alert: The Due Date of ITR Filing Extended to August 31st, 2019

The Central Board of Direct Taxes has already granted additional time for taxpayers by extending the deadline for ITR Filing to August 31, 2019, the tax filers have enough time to take necessary measures while filing ITR for the assessment year 2019-20. Hence, before filing the return, it would be prudent to check Form26AS and the details of overseas incomes (in case of resident and ordinarily resident) like overseas bank statements, payslips, etcand ensure that all incomes reflecting therein are disclosed in the return of income.

In case, you fail to accumulate imperative details and disclosing your income, then, the income tax department will send you a notice for non-disclosure of income. So, to avoid such major interruptions, it is important to act intelligent and file income tax return online with all your proper consideration.

Know your tax slab

At times, the E-filing ITR due date is almost around, one should know the income tax slab in India that has been divided into categories, based on age and income. The first category of taxpayers is those who are below 60 years of your age and their total annual gross income exceeds Rs 2,50,000. The second category is the senior citizen i.e. 60 years and above but below 80 years and total annual gross income exceeds Rs 3,00,000. And the third being those above 80 years with a total income exceeding Rs 5,00,000.

For more details about efiling of income tax return online visit our website : https://www.allindiaitr.com

HOW TO VERIFY ITR WITHOUT LOGIN TO YOUR E-FILING ACCOUNT?

2019-08-08T17:49:00.000+05:30

To make Income Tax Return efiling procedure more relaxed, the income tax department has launched e-verify Return for e-verification of ITR without login. According to this, the ITR filing can be accessed by clicking e-verify return button in the home page under quick links without logging-in to your account. Before this update, the CBDT has launched the lighter version of e-filing ITR, which is known as "efiling Lite” with a focus on to make income tax return filing easier for the taxpayers.

This is one of the many steps that has been taken by the income tax authority to make ITR filing process easier for individuals. Under Income Tax provisions, the ITR verification is one of the last steps at the time of filing ITR process. After the tax return is filed, it is, therefore, mandatory to verify it within 120 days. In case your ITR has not been verified, it will be not considered as valid ITR to be taken up for further processing.

Here's a step-by-step guide on how you can verify ITR without login to your e-filing account-

Step-1 Visit Income Tax India Efiling Login Website (www.incometaxindiaefiling.gov.in)

Step-2 Under the 'Quick Links' tab, select the 'e-verify return' option.

Step-3 Enter the details as needed such as PAN, acknowledgment number. Once you have entered all the information, click on 'continue'

Step-4 Three options will appear on your screen: You can pick any of the options stated above and verify your tax return. If you want to verify your return through Aadhaar OTP, then ensure that your mobile number is registered with the Aadhaar as well. Likewise, if you don't have to EVC (Electronic Verification Code), then you can generate your pre-validated bank account or Demat account.

Meanwhile, with the extension of the tax filing due date for the financial year 2018-19, tax filers can complete the process within August 31 to avoid any tax department's attention or legal notice.

A Complete Guide on Income Tax Refund Status

2019-08-06T13:11:00.000+05:30

If any individuals have filed their income tax return and have paid more tax than what was outstanding is eligible to receive a refund. Usually, refund arises when taxes paid by the taxpayer are more than their actual liability including interest. It could be in the form of advance tax, self-assessment tax, tax deducted at source, foreign tax credit. However, any tax assessee can claim tax refund by simply filing their ITR. Besides, once you have filed e-file ITR, the next step is to verify your ITR, the income tax refund will be automatically become due if a surplus tax was deducted.

When the procedure for income tax return filing gets completed make sure that your ITR is electronically verified through Aadhar number OTP and EVC generated through Aadhar number OTP. Moreover, EVC generated through a bank account or physically verified by posting the signed ITR-V to CPC within 120 days of filing the ITR.

After the ITR process completed by the Income Tax Department, the tax claim is accepted and the due amount will be credited directly to the taxpayers bank account. Although, keep in mind that for income tax refund the taxpayers bank account should be linked with the PAN card. This step has been taken to eliminate the traditional way of sending tax refund cheque by speed post.

How to check the Income Tax Refund Status?

If you want to check your refund status, the tax filers can easily check by logging in to the income tax department's e-filing login website with their user ID and password. In the next step, you will be required to locate view return and forms on the display page and from the drop-down menu, just choose the options income tax returns. Select your assessment year and once you complete the process the tax refund status will be accessible.

Meanwhile, the ITR filing due date has been already extended to 31st August ‘19’ and now taxpayers have enough time to file their ITR without any hustle and bustle. Also, the CBDT has recently launched the lighter way of e-filing website called as e-filing 'Lite' portal to make tax filing process easy for the taxpayers who are preparing to file their return for the financial year 2018-19.

This new benefit will help taxpayers who don’t want to do any other activity on the income tax department website apart from e-filing of income tax return. Now, all registered users on the e-filing website have two ways to access the e-filing facility.

Income Tax Department Launches 'Lite' E-filing facility for Taxpayers

2019-08-03T11:32:00.000+05:30

Income Tax Department has launched the 'Lite' e-filing website to to help taxpayers file returns quickly. And more efficiently. The facility was operationalised on the official portal of the department income tax India efiling login www.incometaxindiaefiling.gov.in.The home page has a new 'Quick ITR Filing' link that users can click on to continue to 'e-Filing Lite', which offers services only for registered e-Filing PAN users

"The Income Tax department is launching 'e-Filing Lite', a lighter version of e-Filing portal with a focus on filing of Income Tax Return (ITR) by the taxpayers," the department said in a public advisory.

Meanwhile, the income tax officials said that a new tab for lite will be provided on the web portal and once the registered taxpayers login efiling website, they will only be provided essential links that enable e-filing of ITRs and Form 26AS. Although, the tax assesse can download pre-filled or XML forms and view their past filed returns. Other regular tabs like e-proceeding, e-nivaran, compliance, work list and profile setting were taken off from the 'lite version' but retained in the standard version of e-filing facility, he said.

As per the tax authority reports, the 'lite' version is aimed to enable easy and quick ITR filing by all categories of taxpayers, the official said. The tax the government extended the due date for filing income tax returns by individuals for the financial year 2018-19 by a month till August 31. Initially, the last date was July 31. The July 31 deadline was set for most individuals and HUFs.

"The Central Board of Direct Taxes (CBDT) extends the 'due date' for filing of Income Tax Returns from July 31, 2019 to August 31, 2019 in respect of the said categories of taxpayers," the finance ministry said in a statement.This extension comes after the government was appealed by many entities to extend the efiling of income tax return date so as to allow sufficient time to tax payers to file their returns.

Here's why Govt has extended due date for filing ITR to August 31

2019-07-29T13:44:00.000+05:30

After the income tax department has extended the deadline to 31st August from 31st July ‘19’, the taxpayers have now adequate time to file their returns. Reportedly, the extension notice came as a relief for individuals who have been facing multiple snags while filing returns. Meanwhile, as per some tax professionals, the Tax Department has examined and understood the hassle that taxpayers were facing some issues while filing ITR due to changes in the ITR form, utility software, late issuance of form 16 reason because of the extension in Corporate TDS Return filing deadline to June 30, 19 and others.

With the extension in ITR filing, there is no pressure on tax assessee. But this time, the taxpayers should act attentively while filing returns. Likewise, all the information needs to be properly filled so that any legal consequences can be evaded. Avoiding so can land you in trouble and you can get a notice from the income tax department for many reasons. These could include not filing income tax return (ITR) on time, calculation errors, not reporting income correctly or even claiming excessive losses. The move by the tax authority is part of an effort to reduce vagueness in filing returns and to make assessment easier by taking accurate details.

How to claim Income Tax Refund?

Here are the steps with the help of which you can claim income tax refund -

· The first step is to file your income tax return by log-in to income tax e-filing website.

· After successfully login-in, you will get acknowledgement number for filing the return online with the digital signature.

· Income Tax Department will check and process the refund, if any.

· Mode of payment of refund will be created on the details submitted by you in income tax return file.

· It can be through ECS (electronic clearing system) or through demand draft /cheque.

· If you choose to get the refund credit through ECS, it’s important to provide all the necessary details such as bank account number, bank branch and IFSC code appropriately in the income tax return file.

· If you choose to receive the refund through demand draft or cheque, it will be sent to your address which you’ve mentioned in the ITR file.

· Generally, it takes about 3-6 months to get the refund from the date of e-filing of income tax return.

· In case youhave paid in excess, then the extra amount paid has to be claimed as refund separately.

· It’s important to ensure that the excess tax paid reflects in your Tax credit statement Form 26AS to get the tax refund.

How to E-verify Income Tax Return using Aadhaar Card?

2019-07-24T13:30:00.000+05:30

E-verify income tax return is the most important and last step of filing ITR. Once the individuals file their income tax return they can easily apply for e-verification either by online mode or offline. In an offline method, you get around 120 days to e-verify your income tax returns. But now, this step has been eliminated from the process of filing returns, as the Income Tax Department is allowing individuals to verify their ITR online through various methods. Also, in case anyone forgot to e-verify income tax return, the income tax department will not accept income tax return process and hence, you will not be able to claim the income tax refund status.

Under online e-verify ITR, there are definite procedures to e-verify return such after efiling of income tax return taxpayer can e-Verify the return by using net banking, bank ATM, using bank account number, Demat Account number, e-verify Return using registered mobile number & mail id or through Aadhaar OTP. But in this blog, we will discuss about how you can e-verify return using Aadhaar OTP. However, as per the Aadhaar Act, 2016, section 139AA of the Income Tax Act, it will not be applicable for individuals who do not reside in India.

Here are the steps to E-verify your income tax return using the Aadhaar card.

Step 1: To verify your return, the first step is to log on to income tax e filing website.

Step 2: The pop up will be shown on your website, asking to link your Aadhaar number with your e-filing account. In case you don't see the popup, go to the profile settings top menu and click on the ‘Link Aadhaar’ button.

Step 3: Next step, check your PAN details and enter your Aadhar number. Make sure that you are saving the details on clicking save option.

After your Aadhar has been linked to your PAN, follow these steps to e-verify your returns:

Step 1: The foremost step is to upload the ITR on Income Tax e-Filing website.

Step 2: After it's done, you will be asked for the mode of verification for your returns. From multiple of options showing on the website select the 3rd-option that says – generate Aadhaar OTP. A one-time password will be sent to the mobile number registered with your Aadhaar; this OTP will be valid only for 10 minutes.

Step 3: Lastly, enter the OTP number on the page and hit ‘Submit.’

You will then receive a message of Return successfully e-Verified. You can download the Acknowledgement. Once it’s done the same acknowledgment will be sent to your registered email id.

For more details about file income tax return visit us at https://www.allindiaitr.com

CBDT extends the Due Date for filing Income Tax returns to 31st Aug '19'

2019-07-24T12:14:00.000+05:30

The income tax authority has extended the due date for income tax return filing to 31st August from 31st July '19'. The CBDT took this decision on Tuesday to provide a relief for taxpayers who were facing difficulties while filing the income tax return. With the extension of the deadline, there is a sufficient time for the people to file their returns on time without worrying about any late charges or penalty. Although, according to the income tax department, the extension applies to all assessees other than corporate taxpayers and a few non-corporate entities.

Taking to Twitter, the Income Tax Department said the due date for filing of ITR for the assessment year 2019-20 was July 31 for certain categories of taxpayers but upon consideration of the matter, the CBDT extended the deadline.

Before this notice, the CBDT had extended the deadline for employers to file their TDS returns, i.e., Form 24Q, from May 31, 2019 to June 30, 2019 and consequently deadline of issuing Form 16 by the employer was also extended from June 15, 2019 to July 10, 2019. Subsequently, employees waiting to get their Form 16 to file their ITRs were left with only 21 days to file their tax return by the earlier deadline of July 31.

Moreover, in case the tax assessee do not file their returns before the due date i.e. 31st August '19', they will be liable to pay penalty and other procrastination charges by the Authorised department. Therefore, it is necessary to file your returns despite of facing any legal statements or notices.

Whereas, if individuals do not file income tax returns on or before the due date, they would be obligatory to pay interest at the rate of 1% for every month, or part of a month, on the amount of tax remaining unpaid as per section 234A.

A taxpayer is liable to pay late ITR filing fees of:

a) Rs 5,000 if the tax return is filed after the deadline but on or before December 31 of the assessment year. For small taxpayers whose total income does not exceed Rs. 5 lakh, the maximum late fee amount will not exceed Rs 1,000 irrespective of when it is filed that is before March 31, 2019.

b) If your total income exceeds Rs 10,000 if the tax return is filed after December 31 but before the end the relevant assessment year, i.e., before March 31.

Hurry up! Just a few days left to File Income Tax Return for the FY 2018-19

2019-07-23T11:43:00.000+05:30

As only nine days left for the income tax return filing and the clock is ticking for taxpayers who are still waiting to file their income tax return for the assessment year 2019-20. Generally, if individuals would not fileincome tax return will be responsible to pay penalty for not filing ITR before the deadline. Therefore, to avoid a last-minute rush, it is necessary to pay your taxes on time or before 31^st July ’19’.

With the due date hovering around, the central board of Taxes has been continuously notifying the updates to make taxpayers aware and support them go through a seamless filing process without facing any last-minute glitches. Meanwhile, the income-tax authority has been saying to all taxpayers across India that delaying in ITR is something that one should always evade. The department said, “File your income tax return on or before July 31.” Adding the department also emphasized that, “Avoid Last Minute Rush!”

How to file Income Tax Return Online-

Online filing is one of the easiest process to get your return filed without stressing yourself. Simply, the process depends on the source of your income, for this, you have to put details in different forms for your income tax, hence, this is important that you file Income tax return accurately with the correct form. There is a total of seven ITR form that will be filed according to the eligibility of the taxpayers. Like, if you're getting income from salary, pension, or from interest on investment need to fill-up the form ITR 1. Simultaneously, if you are earning income from capital gains or house or property and other sources, you have to fill-up the form ITR-2 and so on. Thus, one should be careful when it comes to filing ITR.

For the online process of ITR filing, you first have to log in to income tax department e-filing login portal. Download the returns software available on the website. Keep all your income details and documents with you which includes your income, deductions and Form 16.

In case you've already operated online software, you can log in and pre-fill some of the fields on the form by clicking on ‘Pre-Fill’ option. Make sure that you are entering correct details so that form could be completed. After you have filled out all information, click on the calculate button, although you also take help of the income tax calculator to find out your tax liability. The final amount is either refundable to you or payable by you. If it is owed, make the payment immediately and fill in the details in the returns form. Save and generate the tax return file on your computer. Visit the income tax website and log in using your ID. Once logged in, you can upload your ITR and submit the same.

Once you submit the ITR file, the ITR-V form will be generated. Tax assesses can choose to digitally sign it and complete your ITR process or print out the ITR-V form, sign it and send ITR V to CPC Bangalore address by post.

CBDT Rejects Social Media Rumours on ITR Filing, Says No Change in Income Tax Return Forms

2019-07-19T15:08:00.000+05:30

The Central Board of Direct Taxes (CBDT) on Tuesday refuted reports in social media about changes being executed in ITR forms 2 and 3. The income tax department stated that only the utility software has been updated which is not going to hamper the filing of returns. Meanwhile, there were reports in social media that the taxpayers were facing difficulties in efiling of income tax return in ITR-2 and ITR3 for the financial year 2018-19 due to wide-scale amendments in the ITR form for the AY 2019-20

“No changes have been made in any of the Income-tax Return (ITR) forms including ITR-2 and ITR-3 since the notification made on April 1 2019, i.e. on the 1st day of the Assessment Year 2019-20,” CBDT said.

The income tax authority has clarified that the software utility for e-filing of all the ITR forms has been released long back on 2nd May and on 10th May 2019 respectively. However, the software utility update is a dynamic process and is continuously taken up as per the feedback received from the users/filers to ease their experience in electronic filing of returns.

Besides with this, it has further clarified that the updating of utility does not hamper filing of return as the taxpayers are allowed to file ITR using the utility which is available at that point of time. Even though the utility is being updated regularly to provide ease to taxpayers, the returns filed by using the previous version of utility will continue to be valid. It is pertinent to state that the updation in the utility of ITR forms is based on feedback and mainly aimed at easing the compliance burden of the taxpayers by facilitating easier e-filing. For instance, this year, the facility of pre-filling of return forms has been provided based on the information furnished in the TDS statements.

This facility has been updated in the utility subsequently. This would substantially reduce the efforts of taxpayers in filling of return forms. It is reiterated that there are no changes in the notified ITR forms; only the utility has been updated to facilitate the taxpayers. Therefore, the assertion that numerous changes have been made in ITR-2 and ITR-3 on July 11, 2019, does not give a correct picture.

For more details about file income tax return visit us at https://www.allindiaitr.com

Pre-validate Bank Account to Get Income Tax Refund Amount

2019-07-18T12:31:00.000+05:30

If any taxpayers mistakenly calculated the income tax paid in surplus or have an excess tax deducted at sources, no worries. Now, individuals who are yet to be prepared for ITR filing can get a refund of the estimated amount by claiming a refund while filing an income tax return. Although, the income tax department will confirm and verify your returns and will process a refund. However, the refund will only be transferred electronically to your bank account which has to be linked with your PAN, this rule has been implemented and is in effect from 1 March, 2019. Ultimately, if you want your refund to be successful, you must pre-validate your bank account on the income tax e-filing portal at the time of return filing.

Here is a step-by-step guide on pre-validating your bank account for a hassle-free and secure e-refund-

How to pre-validate your bank account

Step 1: Go to www.incometaxindiaefiling.gov.in and log in to your account. The user ID to enter your account is your PAN number.

User-ID-Logging

Step 2:Second step after logging in is to click on Profile Settingstab in your account and then select 'Prevalidate your bank account' option.

Step 3: In case any of your bank accounts is already pre-validated, you can see it on your screen. Likewise, if you don't have a pre-validated account or you if you want to receive the income tax refund in a different bank account, then click on 'Add'.

Step 4: A fresh page will open and you will have to enter basic details: bank account number, account type, IFSC, bank name, bank branch and your mobile number and email ID.

The mobile number and email ID to be provided here must be the same as mentioned in your bank records.

Step 5: Click on 'Pre-validate'. Once clicked, this message will appear on your screen&Status of your request will be sent to your registered email id and the mobile number".

For more details about efiling of income tax return visit www.allindiaitr.com

Here's how to report income from investments

2019-07-17T11:11:00.000+05:30

When you prepare for income tax return filing, form 16 is one of the most imperative documents which is issued by the employer of the company. Many of us contemplate Form 16 as the only vital document which is actually may not be enough, thus, there are other sources of income as well that you have to submit while filing ITR such as the income from capital assets, house property and interest on deposits need to be disclosed in your ITR Form.

Meanwhile, in case you missed any of the documents then there is a chance that you may receive the notice from the income tax department. Therefore,taxpayers should know which incomes are taxable. Moreover, they cannot even find a way to avoid misreport of any income. However, in this financial year 2018-19, the tax officials have already hardened the knot around tax offenders, now individuals are not permitted to avoid the legal notices from IT department.

So, it has to be kept in mind, every tax assesses must disclose the gains whether the income from investments is tax-free or not, it has to be declared in the ITR. Here is how you can calculate capital gainsfrom different assets and how to disclose them while ITR filing-

Disclose Capital Gains-

If you have earned profit or gains from capital assets such as property, gold, shares and bonds are considered as income from capital gains and taxed under the income head of capital gains. These gains are of two types- short term and long term. The capital gains are calculated by deducting the cost of acquiring the asset from its sale value.

Report Gains from property-

Taxpayers have to report capital gains in schedule Capital Gains of the ITR forms. Taxpayers who do not have a taxable income but have booked long term capital gains (LTCG) over the basic exemption limit must file income tax return.

Report stocks and funds-

From this year onwards, if LTCG exceeds the limit of Rs 1 lakh on sale of equity investments will be taxed.

Reporting Rent Income-

As per income tax guidelines, income from rent from house property aside from self-occupied house has to be considered under income from house property head. In case the second house is not occupied, it is declared as ‘deemed to be let out’ and you will have to disclose rent in your ITR returns.

Thus, the pressure is already high on the taxpayers as the due date for filing tax return is almost approaching, just a few days left for the ITR filing. If you e-file ITR after the deadline, thenyou will be responsible for the consequences. For more information related to income tax efiling, visit us at www.allindiaitr.com .

Penalty you will pay for missing ITR filing deadline

2019-07-15T18:06:00.000+05:30

31st July is the last date to file an income tax return for the financial year 2018-19. If any taxpayers fail to pay the taxes on time, then he will be liable to pay the additional charges for not compensating the taxes on time. Moreover, as per the new rule’s the penalty for late filing under section 234F of the income tax act which came into effect from 1 April 2017, filing ITR after the deadline can make tax assessee to pay a maximum penalty of Rs 10,000.

Meanwhile, the due date of itr filing has almost approached and if you want to break down the extra charges, just file ITR before the deadline ends.Besides, after the filing of ITR has transformedinto the modest platform, where you are no more allowed to wait for prolonged hours in the queue, now you can easily login to efiling login website.

It’s one of the simplest ways to file your returns without any hassle. But if you file income tax returns post 31 July but before December of this year (i.e. 2019), a penalty of Rs 5000 will be levied. For returns filed after December 2019, the penalty limit will be increased to Rs 10,000. However, as a relief to small taxpayers, the IT department has specified that if your total income is not more than Rs 5 lakh, the maximum penalty levied for adjournment will only be Rs 1000.

Whereas, if individuals do not file income tax returns on or before the due date, they would be obligatory to pay interest at the rate of 1% for every month, or part of a month, on the amount of tax remaining unpaid as per section 234A.

A taxpayer is liable to pay late ITR filing fees of:

a) Rs 5,000 if the tax return is filed after the deadline but on or before December 31 of the relevant assessment year (in this case December 31, 2019).

b) Rs 10,000 if the tax return is filed after December 31 but before the end the relevant assessment year, i.e., before March 31 (in this case between 1 January 2020 and March 31, 2029).

Step-by-step guide to download Pre-filled XML of ITRs 1, 2, 3 &4 for AY 2019-20

2019-07-13T10:44:00.000+05:30

The Income Tax Department has recently stated that Pre-filled XML of ITR 1, 2, 3 and 4 for AY 2019-20 are now available at Income tax efiling website. On the other hand, Prefilled XML of other ITRs are expected to be available shortly.With all the forms available on the income-tax website and the deadline for ITR filing less than a month away, you may be in a hurry to file your returns.However, the downloading is available for those who are eligible to file ITR forms as per their eligibility and choose to file it online on e-filing website www.incometaxindiaefiling.gov.in.

Meanwhile, if you file your ITRs using Excel or Java utility, then you will have to manually fill in these details.

Step by Step procedure to download pre-filled XML of Income Tax Return from efiling website is as under:

Step 1: Login to Income Tax e-filing Portal

Step 2: Go to My Accounts > Download Pre-filled XML

Step 3: Fill the required details and click “continue”

Step 4: Download Pre-filled XML

The following details are prefilled in the ITR form:

· PAN, Name, Date of Birth shall be prefilled from PAN database.

· Address, Aadhaar Number, mobile number and e-mail ID shall be prefilled from e-Filing Profile (Please update e-Filling Profile before proceeding).

· Tax Payment, TDS and TCS details shall be prefilled from Form 26AS.

· Details of Salary Income, allowances and deductions shall be prefilled from Annexure II of Form 24Q.

· Type of House Property shall be prefilled from last filed ITR.

· Details of Income from House Property shall be prefilled from Form 26AS.

· Details of Interest income details (u/s 244A) from Income Tax Refund.

· Tax relief u/s 89 shall be prefilled from Annexure II of Form 24Q.

· Details of Interest income from Term Deposit shall be prefilled from Form 26AS.

· Bank account details shall be prefilled from last filed ITR and e-Filing Profile.

· Verification Details – Self/Representative PAN details as applicable based on Logged in PAN.

An individual should keep in mind that before, downloading pre-filled form the users are required to check all the pre-filled information carefully. In case the prefilled data doesn’t match the personal information, income, deductions and tax credit details, users should make necessary corrections.

For more details about file income tax return visit : https://www.allindiaitr.com/

The Most Important things taxpayers must know before filing returns

2019-07-11T15:57:00.000+05:30

Do you know the late date to file Income Tax Return is 31^st July 2019, for the financial year 2018-19. It is essential to file your Income Tax Return as timely as possible, to avoid the last-minute hassle. Here are things you must keep in mind before you file your Income Tax Return for Financial Year 2018-19: -

· Your Tax Deducted at Source and the Form26AS are the things you should take into consideration. Taxpayers must have an idea about the tax credit or the tax that has been deducted on his/her behalf in the form of TDS, that is Form 26AS. While filing Income Tax Return, you must consider your Form 16 and Form 26AS, for the details of your income and TDS deducted from various sources.

· You must keep in mind your Income from House Property, in case you have two house properties, then according to Provisions of Income Tax Act, 1961, you will have to keep your second property on rent. In that case, you must provide the details for the rent received and received and receipts of municipal taxes paid during the financial year, would be required.

· The first and the foremost thing you need to do is to collect your Form 16 from your Employer as it is the withholding certificate and it contains the details of taxpayer’s income and tax deducted at source. In case, taxpayers have switched jobs during the financial year, then they must make sure that they have received the Form 16 from their previous employer.

Many taxpayers are quite adamant about their Income Tax Refund and in the middle of the process they forget to check their Income Tax Refund Status. Once you claim Income Tax Refund, you should check your Income Tax Refund Status. The tax refund is generally provided in two different ways: -

· Refund in form of RTGS / NECS: To get direct credit of the refund amount to the bank account of the taxpayer, the taxpayer’s correct bank A/c (at least 10 digits), MICR / IFSC code of the bank branch and required communication address is mandatory.

· Refund in Paper cheque: The standard paper cheques whenever issued require the current bank account no and the correct address of the taxpayer as mandatory information.

Verify pre-filled details carefully before filing ITR for the FY 2018-19

2019-07-09T12:03:00.000+05:30

As per the recent announcement by the income tax authority, the taxpayers who fall under the category of ITR 1 and ITR 4 is eligible to carefully verifypre-filled ITR for the financial year 2018-19. However, the CBDT has already declared that soon they will pre-filled information in Income Tax Return forms. Whereas, it may be noted that for the assessment year 2019-20, ITR-1 and ITR-4 forms have previously filled basic details about the assessee.

Besides, some employers are yet to issue form 16 because the CBDT had extended the last date for employers to issue the form to 10 July. Keeping in mind the fact that pre-filled information will only be accessible on ITR 1 and ITR 4 if you file the return completely online on the department’s e-filing website. Also, the form will not have pre-filled information if it is downloaded in Excel or Java format.

What is pre-filled income tax return form?

Earlier, the tax department has made an announcement to simplify the procedure of filing the income tax return. Basically, pre-filled XML is a utility provided by the department through which taxpayers personal information for TDS will be automatically filled in ITR such as Name, PAN details, DOB, status, TDS on Salaries, TDS on other than Salaries, TCS Details. Moreover, there is a fundamental step starting from identifying the ITR form as per your eligibility to file income tax return, after this, you can download the offline XML utility of the chosen form from the income tax e-filing website.

How to download the pre-filled ITR XML data?

Follow these steps to download the pre-filled XML data from income tax efiling site-

· Login at income tax India e-filing portal

· Go to download tab and click on “download pre-filled XML.

· Select the Assessment year in a new screen and click submit button.

· Save the XML file in your computer

Once you download the pre-filled XML file, open the earlier chosen ITR offline XML utility (Remember to Enable macro in Excel utility and click all the pop-ups one by one).

Though this is one of the most necessary actions taken by the CBDT authority. It has made ITR filing easy for the citizens of India, and hence, there are fewer it rerun there are fewer chances to make any mistakes or put any wrong information in the return. However, one should have the accountability to properly verify the information before submitting it. Thus, before filing the tax returns make sure that you've rechecked all the pre-filled information, mainly TDS as per form 26AS.