Tuesday 11 June 2013

FIle it Yourselves......

Generally People Have paid CA’s or TRP’s to file their Income Returns. With the help of my suggestion I think you will learn to do it yourself and save some bucks as well... This isn’t Rocket Science but require full attention of the reader....
THIS MAIL IS JUST TO HELP AND NOT CONCLUSIVE, READERS DISCRETION IS SOUGHT. READ A LOT OF ARTICLES ABOUT HOW TO FILE RETURNS YOUR SELF, BECOZ ACCOUNTING/TAXATION PROCEDURES ARE SUBJECT TO DIFFERENT OPINIONS RATHER THAN RULES...
YOU CAN WRITE TO ME TO MY EMAIL ID AND PLEASE NO CALLS ....
Now,
If you have Income from Salary, ask your employer for FORM 16 for the full Financial Year see that all tax deductions have been credited to your Pan Number. If your income is other than salary seek FORM 16A, you can also cross check this with your form 26AS which is available to you in your internet banking.
Keep ready the following:
-Last year’s Returns if any
- Your PAN CARD (Of Course)
- Your Savings Certificates
- Your bank details (don’t close your bank account until you receive your refund)
(Carefully fill details coz. to change them will be difficult...) After successful registration an activation link will be sent to your email.
After Activation login to this website and navigate through pages just to have a feel of the site. Here you can also view your form 26 AS

Under download section, you can acquire your relevant forms, those individuals having Income from salary or income other than salary can use form ITR4, after downloading it, read the instructions (it is boring & majority will not understand), then carefully start filling it (these forms get updated each year so, check the latest version in the above link)



In this file, the sheets which you have to use are as follows:
Sheet Name                                       Description
Home                                                where you check/uncheck the filled sheets
Part A General                                              Where you give your Name, Pan details, your ITO ward,  & your Return should be filed under section 11 - u/s 139(1),
Nature of Business                                        Here select your Designation Profession/Industry
PARTB - TI – TTI                                        Fill your bank details in which you want your refund & you have to put your employer’s details (extreme below)
TDS-TCS                                                       Here you have to fill the details of Tax deducted mentioning Certificate Numbers of your FORM 16 & 16A’s
                                                After completing form validate each sheet, if you have entered data in wrong cells an error message will appear.
After Validating the file generates XML File and save it.
(Both validate & Generate XML options can be seen in every sheet)
Now go to the link mentioned above, log in and under E File you can upload this XML File, after you do this an email will be sent to your id with ITR Form which you have to take a print, sign it and send to CPC Bangalore. The address is mentioned at the below of the form.
(Note that this form will be password protected, and it is the combination of your Pan Card Number & Date of Birth.)
The Stipulated time to get your refund is 90 days if you file it online.
If you file manually, Even God doesn’t know when you will get your Tax Returns.
The INCOME Tax Slabs have not changed this year,
A rebate of Rs.2000/- is given to every Individuals in the Bracket of Income above Rs.200000/- to Rs.500000/-, but this credit is applicable from the next Financial year i.e. 2013-2014 (AY 2013-2015)
Good Luck & Happy Filing...

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