ASSISTANCE FOR FILING INCOME TAX RETURN

A person who has to file income tax returns , can file using e-filing portal of the income tax department . ( Read the next paragraph to know who has to file the IT returns ) . In case you are unable to file income tax returns directly on the e-filing portal , you may use the services of a chartered accountants or ERIs

CHARTERED ACCOUNTANTS :

A 'Chartered Accountant' (CA) is a person who is a member of the Institute of Chartered Accountants of India (ICAI) constituted under the Chartered Accountants Act, 1949 (38 of 1949).

ERI :

e-Return intermediaries (ERIs) are authorized intermediaries who can file income-tax returns (ITR) and perform other functions on the behalf of taxpayers. There are three types of e-Return Intermediaries:

Type 1 ERIs: File Income Tax Returns / Forms using Income Tax Department utility / Income Tax Department approved utilities through e-filing portal.

Type 2 ERIs: Create their own software application/portal to file Income Tax Returns / Forms on the e-Filing portal through Application Programming Interface provided by Income Tax Department

Type 3 ERIs: Develop their own offline software utilities instead of using Income Tax Department utility available on the e-Filing portal to enable the users to file Income Tax Returns / Forms.

AUTHORIZED REPRESENTATIVES

Further if one is unable to file income tax returns for the following reasons , one can appoint another person as authorized representative to file income tax returns in the following circumstances :

1. Legal heir will be authorized representative for the Deceased
2. Guardian / Manager who is managing the affair will be authorized representative for the Lunatic or idiot
3. Guardian / Manager who is managing the affair will be authorized representative for the mentally incapitated
4. Guardian will be authorized representative for the minors
5. A Resident can be authorized representative for the Non-residents

​To read Income tax department's guide on the subject , CLICK HERE

WHO HAS TO FILE IT RETURNS ?

Every individual or Hindu Undivided Family ( HUF ) is obliged to submit Income Tax returns if they meet following criterion .

1. Income exceeding Rs 2,50,000 in case of individuals below 60 years
2. Income exceeding Rs 3,00,000 in case of individuals above 60 years and below 80 years
3. Income exceeding Rs 5,00,000 in case of individuals above 80 years

Note : Income means total income in the financial year 2023-24 before allowing deductions under chapter VI -A of Income tax act .

Further you have to submit your IT Return if you have

1. expended more than Rs. 2 lakh on foreign travel or
2. paid more than Rs. 1 lakh on electricity consumption in a year
3. deposited more than Rs. 1 crore in a current account in a year,
even if your income is less than the threshold limit .
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Note : 1. If TDS / TCS has been collected from your account , you have to file your IT Returns to claim refund , even when you are not taxable for the year . If TDS or TCS collected is more than Rs 25,000 ( Rs 50,000 for the senior citizens ) , submission of IT Returns is mandatory .
2. If your income exceeds basic exemption limit , you have to submit your IT Returns even though you are not liable for any income tax . For example your income is below Rs 7.00 lakhs and you are not liable to pay tax on the basis of section 87A
3. You have filed your audit report , but not filed your IT Returns . You have to complete the process by filing the returns .
4. If you hold any asset outside India or beneficiary of any asset outside India or a signing authority for an account outside India , you have to submit IT Returns if you are a resident Indian .

Income tax Return Filing with the help of chartered accountants

Some of the services that a CA can assist with through e-Filing portal are:

• File Statutory Forms (once the person is added as a CA by the taxpayer and has has accepted the request)

• e-Verify the forms assigned by taxpayer

• Upload bulk form (Form 15CB)

• View filed Statutory Forms

• View & Submit Grievances

• Set higher security Login options through Profile

• Register DSC

Filing Income Tax returns through ERIs

Type 1 and Type 2 ERIs can execute the following services on behalf of their client:

• File Returns & Statutory Forms

• Add Client (Registered & Unregistered Users)

• Activate Client

• Extend Client Validity

• Extend Service Validity

• Add Service

• Condonation Request for delay in submission of ITR-V

• Add Authorized Representative

• Authorize another person to act on behalf of self

• Register as representative Assesse

• Register to act on behalf of other person

• File Income tax forms

• Refund re-issue request

• Rectification request

• Condonation request for filing ITR after time barred

• Update Primary Contact details as per Bank Account verified contact details

• Update Primary Contact details as per Demat Account verified contact details

HOW TO AUTHORIZE CA TO ACT ON YOUR BEHALF ?

1. Step 1: Log in to the e-Filing portal using user ID and password
2. Step 2: Click Authorized Partners > My Chartered Accountant(s).
3. Step 3: The My Chartered Accountant(s) page appears. It displays the active and inactive CAs under the respective tabs.
​4. Step 4: Enter name in the Search by Name textbox to view all matching records.
5. Step 5: Click View Assigned Forms to display the status and details of all forms assigned to a specific CA.

How to add CA ?

Step 1: For assigning forms to a CA, the CA must be added and authorized by you in your profile. If you want to add a CA, click Add CA.
Step 2: The Add Chartered Accountant(s)(CA) page appears. Enter the Membership Number of the CA. The CA name is filled automatically from the database. CA will be required to accept the request, after which you can assign the form to the CA.
Step 3: Select the validity period for the CA and click Add.
Step 4: Click Confirm to add the CA.

How to assign Forms to CA ?

Step 1: On the My Chartered Accountant(s) page, click Assign Form(s) against the required CA under the Active tab
Step 2: Click Add Form on the Assign Form(s) page. You can assign any form to a CA only after he / she accepts your request to add CA on the e-Filing portal.
Step 3: Select the required Form Name, Assessment Year and Filing Type and click Add.
Step 4: The Assign Form(s) page will appear with the selected form added. Review the information displayed and click Submit.

For further guidance , continue with IT department's guide

HOW TO AUTHORIZE ERI TO ACT ON YOUR BEHALF ?

1. Step 1: Log in to the e-Filing portal using user ID and password
2. Step 2: Click Authorized Partners > My e-Return Intermediary (ERI)
3. Step 3: Then "My e-Return Intermediary (ERI) " page appears. It displays the active and inactive ERI under the respective tabs.
​4. Step 4: Enter name in the Search by Name textbox to view all matching records.
5. Step 5: Click View Assigned Forms to display the status and details of all forms assigned to a specific ERI

​For the list of approved ERIs , CLICK HERE

Portals that assist Income tax return Filing :

There are various portals services under ERIs category which can be used to file IT Returns .

1. https://www.incometax.gov.in/iec/foportal/ ​The first and foremost website of income tax department of government of India . The website is authentic , official and absolutely free of charge . Website also supplies pre-filled forms which can be used for filing the returns

2. https://cleartax.in/ : The website facilitates submission of ITRs ITR1 , ITR2 , ITR3 & ITR4 . The services are chargeable .
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​3. https://tax2win.in/ : Self filing on the website may attract fees and assisted filing starts with a price of Rs 899 + tax
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4. https://myitreturn.com/ : The assisted services for Income tax return filing starts with of fee Rs 199 + tax onward .

5. https://eztax.in/ : Services on the website starts from Rs 999 + tax

6 . https://www.taxspanner.com/ : The fee starts from Rs 499 onward .

7. https://www.indiafilings.com/learn/file-income-tax-return/ : The fee starts from Rs 2,899 .


Many of the websites boast of fast and reliable submission . We have not independently verified the quality , efficiency and data security of such private websites

TAX PLANNING FOR FY 2023-24 ( AY 2024-25 )
Comprehensive Article on Income tax changes in Rules, Rates , Slabs , Rebates and Estimation

CLICK HERE TO READ

THIS ARTICLE CARRIES INFORMATION ON VARIOUS TAX PROVISIONS WHICH ARE GENERALLY USEFUL .YET IT DOES NOT CARRY ALL THE PROVISIONS AND HENCE YOU ARE ADVISED TO GO THROUGH INCOME TAX DEPARTMENT WEBSITES FOR AUTHENTIC COMPLETE INFORMATION . ESPECIALLY THOSE WHO HAVE GOT MULTIPLE STREAMS OF INCOME OR COMPLEX INVESTMENTS MAY CONSULT A QUALIFIED TAX CONSULTANT / CHARTERED ACCOUNTANT FOR ANY CLARIFICATION. READERS ARE ALSO WELCOME TO SEND FEEDBACK . YOU CAN DOWNLOAD THE FORM HERE . WE ARE OPEN FOR CORRECTION IF NEEDED
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