Income Tax : Bulk PAN Verification

Saturday, April 12, 2014 | comments

Steps for Bulk PAN Verification User Registration
  1. Click on ' Register Yourself' on the homepage.
  2. Select the user type as 'Bulk PAN Verification User'
  3. Provide Password details, PAN and TAN details of the Organization (if applicable), PAN details of the Principal contact,
  4. Contact details- Principal contact's and Organization's ; and Digital Signature Certificate (if applicable).
  5. Click 'SUBMIT'
  6. User to send an authorization letter from the Head of the Organization. The request is evaluated and approved post receiving the documents.
  7. On successful registration, an e-mail is sent to the registered e-mail ID alongwith the activiation link and the User ID.
  8. Click on the Activation link to activate the e-Filing account.
  9. LOGIN with the User ID and Password.
Detail required in Registration From is given below :-

Second Step for Bulk PAN registration form -External Agency 

Upload Bulk PAN Query
  1. PAN query can be done in bulk through e-Filing application OR web-service. Upload XML in prescribed schema with the
  2. PANs. Once processed, view the details.
  3. You can query for multiple PAN in e-Filing application or through Webservices

Steps to upload Bulk PAN query through e-Filing application
  1. LOGIN to e-Filing application and GO TO 'Bulk PAN Query' --> 'Upload Query'.
  2. Upload the XML containing the PANs, in the prescribed schema.
  3. Click on the 'SUBMIT' button.
  4. On successful upload, a Token Number is generated. Use this Token Number to know the PAN details.

Steps to upload Bulk PAN query through Webservices
  1. Establish a connectivity with e-Filing application through Webservice.
  2. Provide the XML containing the PANs, in the prescribed schema.
  3. On successful upload, a Token Number is generated. Use this Token Number to know the PAN details.

To know more on Webservices, please refer to help section in the e-Filing application.

Income Tax :- Submit button in Java Based Income Tax Return Utility

Thursday, April 10, 2014 | comments

Friends,    Income Tax Department has issued off-line java based income tax return utility like on-line.  It has already informed in last post that two excellent features have been added in utility  named Pre-fill and Instant Validation errors.   Now "Submit"  button is also similar to them.   After preparation all data in Java Based Income Tax return and while validation errors are nil, then submit button will be pressed and ITR-V will be generated on using e-filing User Id, e-filling Password and Date of Bire/Date of Incorporation.  Basic requirement is internet connection to avail this feature. 

Submit -Click this button to upload the XML in e-Filing portal. You'll be prompted to provide your e-Filing credentials, User ID, Password and DOB/DOI. Post submission, the success message and the acknowledgment number will be displayed. You will be able to download ITR-V. Please make sure you're connected to the internet to avail this feature. (if the return is submitted without a DSC) as well.

Income Tax :- Excellent Features in Java Based Income Tax Return Utility.

Wednesday, April 9, 2014 | comments

                    Today, I have checked new Java Based Income Tax Return Utility issued by Income Tax department for the Financial Year 2013-14.  The two new excellent features have been added in it. 

1.       Pre-Fill 
2.       Instant Display of Validation Errors 

                  The above two features can be viewed in below screen shoots.
                    In case you are not able to view the validation errors showing in right top of  the screen.  You may click on view near with file & tool button (available in left top) and enable Show Validation or press Alt+D button for getting validation error messages. 

Pre-Fill Data
           This function is too much easy & simple that can not imagine by anyone.   Just click the button and enter e-filing User ID and e-filing Password.  There is no need of  download & upload function as used in earlier excel based utility. 

Income Tax :- Income Tax Return Utility for Assessment Year 2014-15

Tuesday, April 8, 2014 | comments

                Income Tax Department has released following Income Tax Return Utility for assessment year 2014-15.  These income tax utilities are java based.  

              To know how to install/configure and run java, please Click Here 
How to use this ITR Form? 
These ITR Forms are developed using the latest in JAVA technology and effort has been made to  make it user friendly, simpler and faster preparation of tax returns. This utility can be run on operating  systems like Windows 7.0 or above and latest Linux, where Java Runtime Environment Version 7  Update 6 (jre 1.7 is also known as jre version 7) or above is installed. 
i.Please make sure you have the latest version of the utility before you start filling the information into  the utility. 
ii. Please make sure you're connected to the internet for submission of the ITR Form. 
The following are features available in the ITR Form. 

1. New - On click of this button, a new copy of the ITR form will be available. If you have already  opened the ITR form, you will be prompted to save the earlier copy. 

2. Open -This option is for importing the XML (successfully generated earlier) of a particular A.Y.  Select the path and import the XML. You should check/validate the contents before finalizing  upload/submission. 

3. Save - You can save your completed XML in the desired path/location of your desktop. 

4. Save Draft - This option can be used to save your XML. Please note you cannot upload an  XML which was saved using the ‘Save draft’ option. Only a complete XML generated using  the ‘Save’ option can be uploaded successfully. 

5. Prefill -This option can be used to auto-fill your Personal, Address and Tax details. You will be  prompted to provide your User ID, Password and DOB/DOI to fetch the data. It is advisable to  complete this activity before you start entering other data. Please check/validate the contents.  Please make sure you're connected to the internet to avail this feature. 

6. Re-Calculate - On clicking this button, the data in the utility will be re-calculated. This is to  provide with the utility based calculation/validation. 

7. Submit -Click this button to upload the XML in e-Filing portal. You'll be prompted to provide  your e-Filing credentials, User ID, Password and DOB/DOI. Post submission, the success  message and the acknowledgment number will be displayed. You will be able to download  ITR-V. Please make sure you're connected to the internet to avail this feature. (if the return is  submitted without a DSC) as well. 

8. Help - This option will let you know the shortkeys, instructions, settings and how to use this 
ITR form. 

9. Previous/Next- These will help you to navigate to the various tabs of the ITR form. 
 Shortcut keys 
1 Alt + N Opens a new ITR 
2 Alt + S Saves the ITR in the user desired path 
3 Alt + F4 Closes the utility 
4 Alt + I Imports the XML file 
5 Alt + F Pre-fills the ITR 
6 Alt + C Clears the validation errors 
7 Alt + D Hides/Shows the validation window 
8 Alt + G Opens the SUBMIT screen to submit the ITR 
9 Alt + R Re-calculates the tax details as per the Utility 
Following are the recommended settings to use the ITR Utility : 
Java Run time Environment Version 7 Update 6 (jre 1.7 is also known as jre version 7) or above 
Any Zip Software to unzip the utility 
Internet Connection: 
Minimum bandwidth of 256 kbps and above 

Checklist of documents and pre-requisites
1. A copy of last year's tax return.
2. Bank Statement
3. TDS certificates
4. Savings certificates/deductions. 
5. Interest statement showing interest paid t you throughout the year.
6. Balance Sheet, P&L Account statements and other Audited reports wherever applicable . 

1.  Download ITR-1 Sahaj   for Individuals having income from Salary & Interest
2.  Download ITR-4 Sugam for Individuals/HUF having income from presumptive business. 

Income Tax :- Major Updation in Excel Based Income Tax Calculator for the Assessment Year 2014-15

Sunday, April 6, 2014 | comments

Friends,  The following updations have been done in Excel Based Income Tax Calculator for the Assessment Year 2014-15
  1. PAN validation has been inserted.  In case wrong pan structure, next column will display as False or otherwise it will display as True. 
  2. Amount in Column 80C is restricted to greater than Rs. 1,00,000.00
  3. New column 80CCG has been added. 
Download updated Excel Based Income Tax Calculator (Click Here)

Income Tax :- Documents required while file Income Tax Returns

Wednesday, April 2, 2014 | comments

Typically, as a salaried tax payer you'll need to have the following items at hand for filing your Income Tax Return. This might vary on a case by case basis.

Here’s a quick guide to the documents you will need for the Assessment Year 2014-15 that will help you prepare and file your Income Tax Return.

PAN number
Verify your PAN number online with the Income Tax Department before filing your Income Tax Return by going to this link:

Form-16 issued by your employer
A Form-16 is a statement issued by your employer which has details of your Salary, the taxable salary amount after various perks and allowances, the TDS deducted by your employer, the deductions you have claimed and the overall tax due. TDS is Tax Deducted at Source. Your employer will have already deducted some portion of your salary and deposited it with the Income Tax Department.

This is a good starting point to start preparing your tax return.

Bank statements / passbook for Interest Income on bank deposits.
Note that you have to declare all Interest Income earned in the Financial Year 2013-14 in your Income Tax Return. A lot of people forget to do this, so please go through your bank statements and find out the Interest received.

Statements of Interest Income besides Bank deposits
Sometimes you may have fixed deposits which may have matured, debentures which yield interest. Take a look and make sure to declare this income on your Tax Return.

TDS certificates issued to you by your bank and others
TDS may have been deducted on your Interest Income by your bank. Check whether any TDS was deducted. You can ask the Bank to issue you a TDS statement. Declare these TDS entries in your Tax Return to reduce your tax liability.

Form 26AS
This is one of the most important documents that you should look at while preparing and filing your Income Tax Return.

Form 26AS reflects all the Income Tax received by the Income Tax Department with respect to you. This is a tax credit statement which shows TDS payments, voluntary tax payments made by you.

This Form-26AS should match all your TDS certificates issued to you by your employer, your bank etc.
If there is a mismatch you may have a tough time getting your tax refund. In case there is a mismatch between your TDS certificates and Form-26AS, you should contact your employer or your bank. They might have to inform the Income Tax Department of the TDS they have deducted.

Proof of investment under Section 80C
Investments done under LIC, NSC, PPF, school fees of your children qualify for Section 80C deductions.
Payment towards the principal of your Housing Loan also qualifies for deductions under Section 80C. The maximum limit for claim under section 80C is Rs. 1 Lakh.

Charitable donation statements
Donations that can be claimed for tax deductions under Section 80G.

Typically the receipt issued by the charitable organization you donate to mentions the eligibility under Section 80G.

For making sure you can avail of your tax deduction, make sure you quote the PAN number of the charitable organization.

Interest paid on housing loan.
If you pay EMI towards housing loan for a house that you live in: The Interest paid on housing loan is eligible for tax saving. The upper limit for tax saving is Rs 1,50,000.

If you pay EMI towards housing loan for a property that you rent out to others: The Interest paid on housing loan is eligible for tax saving. There is no upper limit for Interest paid exemption on rental property.

Other (less common) documents:

Proof of investment under Section 80E:
Interest Paid on Education loan is tax deductible and can be claimed under Section 80E.

Proof of investment under Section 80D:
Medical Insurance payments for your family and your parents can be claimed here.

Proof of Disabilities
If you have disabilities, you might want to check up on Section 80U. If you have dependents with disabilities then check on Section 80DD.

Stock trading statement:
If you have sold any stock in the Financial year 2013-14, then you might have had Capital Gain or Capital Loss. This has to be declared in your Income Tax Return. Take a look at your brokerage account and then declare your Capital Gain.

Capital gain on sale of property
In case you sold any property or house or land or anything of value, you may have had a Capital Gain or Capital Loss. You have to declare this in your Income Tax Return.

Overall the key take away is - Look at your Form-26AS to ensure that your records match those of the Income Tax Department.

Income Tax :- Last date for filing of Income Tax Return 31.03.2014

Monday, March 31, 2014 | comments

Friends     In case you have not filed your Income Tax Return you may file your Income Tax Return for the Assessment Year 2013-14 on today, i.e. 31-03-2014.  Nationalised  banks were also open on Sunday to collect he income tax  in the interest of Assessee.  After that taxable return will be submitted on deposit of Penalty of Rs. 5000.00.   This penalty will be charged under section 271F which detail is given as under :- 

7[Penalty for failure to furnish return of income.

271F. If a person who is required to furnish a return of his income, as required under sub-section (1) of section 139 or by the provisos to that sub-section, fails to furnish such return before the end of the relevant assessment year, the Assessing Officer may direct that such person shall pay, by way of penalty, a sum of five thousand rupees.]

e-TDS :- "Invalid Details in Part 1 and/or Part 2" error message while downloding NSDL Conso. File

Tuesday, March 25, 2014 | comments

                On inquiry from TDS(CPC), the following solution has been received for solution of error message "invalid Details in Part 1 and/or Part 2" for downloading  NSDL consolidated file.  It may be helpful for deductors for submitting TDS correction statement.  

1. This is to inform you that the issue related to “Invalid details in Part 1 and/or Part 2” while downloading Consolidated file in your case has been acknowledged.

2. Particulars in Part 1 and Part 2 of downloading Consolidated file are required to be exactly the same as reported in the TDS statement. Please enter the challan details and unique PAN-Amount combination as reported in the regular statement. However if challan details and the unique amount combination reported in the regular statement have been modified in the correction statement, then use the modified particulars of challan details and unique PAN -Amount combination.

3. A) Challan Identification Number (CIN) – gets generated on payment of tax through Bank Challan. It consists of:-
               a) BSR Code
               b) Date of Payment
               c) Challan Serial Number

   B) Book Identification Number (BIN) / Transfer voucher details – gets generated on filing of Form No. 24G by Pay & Account Officer (PAO)/ District Treasury Officer (DTO)/ Cheque Drawing & Disbursing Officer (CDDO). It consists of:-
              a) 24G Receipt Number
              b) Date of Transfer voucher
              c) DDO Serial Number

4. Please enter a Challan with at least three distinct valid PAN-Amount combinations corresponding to the statement mentioned above in point 2. If there is no such Challan, mention a challan with at least two valid PAN-Amount combinations. If there is no such challan, mention a challan with at least one valid PAN-Amount combination. If you do not have any such challan, mention a challan with no valid PAN-Amount combination and also select the checkbox (no valid PAN Dedcutee row) in the PAN Details section in Part 2, where you are suppose to enter the unique PAN-Amount combination.

5. Downloading process requires you to input “Token No. of your regular Statement. 

6. A) Following could be the reasons for getting “Invalid details in Part 1 and/or Part 2” message in Downloading Consolidated file:

      a. You might have not entered the token no. of your regular Statement. 
      b. Challan details entered are not as mentioned in Point no.2.
      c.Incorrect unique PAN Amount combination. 

7. B) However, if the problem still exists after following the above said rules, please provide screen shot of the same with the complete details, like Token No., Challan Details & Unique PAN Amount combination on email ID‎.

8. You may also access the E-tutorials published on our website for any assistance/guidance using the following link:

9. Further for your information, guide to identify a suitable challan option (Guide 1) and guide to identify the unique PAN-amount combinations (Guide 2) have been attached with this mail.

Income Tax :- 89(1) Relief Calculator for the Financial Year 2014-15 or Assessment Year 2015-16

Wednesday, March 19, 2014 | comments

As the Financial Year 2013-14 is going to close.   Therefore 89(1) relief calculator is required for the Financial Year 2014-15.  We have uploaded Calculator to calculate relief Under section 89(1) of the Income Tax Act, 1961 in respect of Arrears of salary received during the financial year 2014-15.  The Calculator will calculate relief if any which Assessee can claim U/s. 89(1) in respect of salary received in Financial Year 2014-15 pertaining to prior years. This Calculator will calculate the Relief for Arrears received pertaining to the period from from 01.04.2005 to 31.03.2015 The Calculator also automatically Fills Form 10E with its annexure with the help of  Table A Automatically. We have already uploaded  calculators which will calculate relief U/s. 89(1) in respect of arrears of Salary Received  pertaining to financial year 2010-2011, 11-12 to 2013-14.

Please visit at here to download the latest or earlier calculators. 

Income Tax :- Extension in Due Date for Payment of Advance Income Tax in March 2014

Saturday, March 15, 2014 | comments

Friends,    Central Board of Direct Taxes has extended due date of payment of advance tax to be made on 15th March, 2014 to 18th March, 2014 for the Financial Year 2013-14 for all the assessees (Corporate and other then Corporates).  This extension has been done vide CBDT order No. F.No. 385/8/2013-IT(B) dated 14th March, 2014.

Copy of orders are given below for the satisfaction :-

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