I-T department issues FAQs on ITR filing

NEW DELHI: Taxpayers with cell numbers not linked to Aadhaar can reset password on revenue tax e-filing portal utilizing a sound digital signature certificates or by logging into web banking, the I-T division has mentioned.
With the deadline for submitting revenue tax returns by these having enterprise revenue and corporates approaching, the revenue tax division has issued a set of FAQs (Incessantly-Requested Questions) on high 10 clarifications sought by taxpayers whereas submitting their ITRs. It additionally mentioned {that a} taxpayer ought to test his e book of data and supply data within the I-T return as per the knowledge accessible with him.
To a question on self-assessment tax paid however not reflecting in pre-filled particulars on the portal, the I-T division mentioned it takes 3 to 4 days for various banks to supply data to the division. Submit that, it will get up to date within the tax-returns/pre-filled information.
“Taxpayer might decide to attend for required time-period for auto reflecting particulars of the taxes paid in ITR.
“Alternatively, in such instances the place taxpayer has already crammed in extra particulars over and above the pre-filled particulars, such fee particulars might be entered manually after clicking on ‘Add Particulars’ hyperlink for advance tax and self-assessment tax fee particulars below schedule ‘Taxes Paid’,” the I-T division mentioned.
To a question on resetting password with out e-filing OTP (in instances the place registered cell quantity has modified)/Aadhaar OTP (the place cell will not be linked to Aadhaar or if Aadhaar will not be linked to PAN), consumer can reset password utilizing a sound Digital Signature Certificates (DSC) or can login instantly by way of web banking into e-filing account.
“The DSC must be linked to the PAN of the taxpayer and consumer can reset password even when DSC will not be registered on the portal,” it mentioned.
In cases of distinction between revenue as proven in AIS and 26AS, the I-T division clarified that revenue mirrored in AIS and 26AS are primarily based on data obtained from completely different sources and tax compliance made by completely different stakeholders. These are made accessible to the taxpayer for reference objective.
“If there’s variation between the TDS/TCS or tax funds as offered in Type 26AS and the TDS/TCS or tax funds offered in AIS, the taxpayer might depend on the TDS/Tax fee data offered in 26AS for the aim of submitting of tax return and for computing pre-paid taxes,” it mentioned.
AKM International Head of Tax Markets Yeeshu Sehgal mentioned the FAQ clarifies on time by which self-assessment tax will get mirrored, the way to register as a authorized inheritor, the way to reset password with out Aadhaar OTP which may be very helpful for NRIs as they aren’t mandated to acquire Aadhaar.
Different FAQs relate to deductions for saving financial institution curiosity, the way to change tax regimes since there are two tax regimes — outdated and new — now and the way to file return by way of offline utilities.
As per I-T Act, the due date for submitting I-T returns varies primarily based on taxpayer’s class. Salaried people are required to file their revenue tax returns by July 31, whereas corporates or those that are required to audit their books of accounts can file their returns by October 31 of the evaluation yr.