5/16/2017 AllITRformsarenowavailableonlineValueResearch:TheCompleteGuidetoMutualFunds

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AllITRformsarenowavailableonline
Allincometaxreturn(ITR)formsareavailableonlineattheincometaxdepartment'sefilingwebsite

ByAshwiniKumarSharma|May15,2017

Since1April,theincometaxdepartmenthasbeenuploadingthevariousincometaxreturn(ITR)formsforassessmentyear(AY)
201718.Andnow,allofthemareavailableonlineattheincometaxdepartment'sefilingwebsitewww.inometaxefiling.gov.in.Ifall
yourdocumentsareinplace,youcannowefilethetaxreturns.AlsonotethatthenumberofITRformshasbeenreducedtosevenfor
thisassessmentyear,comparedtonineformsinthepreviousone.Nowlet'sreadmoreaboutefilingtaxes.

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Almosteverybodyhastoefilethetaxreturn
Allincometaxassesseescanfiletheirreturnsonline,howeverthereareexemptionforveryseniorcitizens(individualabove80years,
atanytimeduringthepreviousyear)oranindividualorHinduundividedfamily(HUF)havingincomeoflessthanRs5lakhandwho
havenotclaimedanyrefundinthereturnofincome,canalsofiletheirreturnsinphysicalforms.Restallarecompulsoryrequiredto
efiletheirITRs.

RationalisedITRForms
Inordertosimplifythefilingoftaxes,theCentralBoardofDirectTaxes(CBDT)hasmadesomeamendmentstotheITRforms.For
thecurrentassessmentyear,thenumbersofformshavebeenreducedtoseven,fromnine,becauseinplaceofthreeITRformsITR2,
ITR2AandITR3asingleITR2hasbeennotified.Consequently,ITR4hasbeenrenumberedasITR3andITR4S(Sugam)asITR
4(Sugam).

Further,somemorechangeshavealsobeenmadeinthedesignandformatofthenotifiedformsforthecurrentassessmentyear.

Forinstance,aonepagesimplifiedITRForm1(Sahaj)canbeusedtofilereturnsbyindividualshavingincomeofuptoRs50lakha
yearandwhoarereceivingincomefromsalaryandonehousepropertyor'otherincome'.AccordingtoCBDT,"VariouspartsofITR
Form1(Sahaj)viz.partsrelatingtotaxcomputationanddeductionshavebeenrationalizedandsimplifiedforeasycompliance.This
willreducethecomplianceburdentoasignificantextentontheindividualtaxpayer.Thisinitiativewillbenefitmorethan2crore
taxpayerswhowillbeeligibletofiletheirreturnofincomeinthissimplifiedform."

ThewaysofEfilingyourtaxreturn
Therearenochangesintheefilingprocessofreturnsforthecurrentyear.TherearetwowaysyoucanfiletheITR.Oneismostly
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5/16/2017 AllITRformsarenowavailableonlineValueResearch:TheCompleteGuidetoMutualFunds

onlinebutpartiallyoffline,andtheotherisfullyonline.Inthepartiallyofflineprocess,youneedtodownloadtherelevantITRform
whichisintheformofanXMLfileandsaveittoyourcomputer.Ifyouwant,youcangoofflinewhileyoufillit.Afteryoufillandsave
theform,youneedtosubmititbygoingonlineagain.TodothisyouwillneedauserIDandpasswordtologintotheincometaxfiling
website.Ifyoudon'talreadyhaveauserID,youcangenerateitonthesamewebsiteusingyourPermanentAccountNumber(PAN).

Afteryoulogin,selecttherelevantformfromtheleftpanelandclick'SubmitReturn'.BrowsetoselecttheXMLfilethatyouhadfilled
andsavedonyourcomputer,and'Upload'it.Afteryouuploadthefile,acknowledgementdetailswouldbedisplayedonyourscreen.In
thefullyonlineprocess,youdon'thavetodownloadanyform.Youfillitonline,andsubmititonline,afteryoulogintotheefiling
websitewithyouruserIDandpassword.

Theduedate
TheduedateforfilingITRsforAY201718is31July2017.However,incaseyoufileitafter1July,rememberthatyouwillhaveto
quoteyourAadhaarnumberortheenrolmentIDofAadhaarapplicationform.Thiswasmandatedbythefinanceministerinthe
FinanceAct,2017,althoughthismovehasbeenchallengedintheSupremeCourt.
InarrangementwithHTSyndication|MINT

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