Last date for filing the returns and the forms to be filled out in this process | Procedure of E-Filing of returns

July 31st, 2010| In India.

Last date for filing the returns and the forms to be filled out in this process | Procedure of E-Filing of returns

31.07.2010 is the last date to file returns.  Do not worry about non availability of time.  One can always file e-Returns.

People who has to show losses for the financial year 2009-2010 have to file returns before 31st of July.  Saral II and ITR 2 forms are sufficient for most of the people.  Income Tax Consultants can be of great help if there are any profits on the capital or other adjustments to be made.  People who get income from rents, interests or salary can file the returns easily without anybody’s help.  Income tax department has made it very simple.  If a person is not in a position to file the returns personally, the returns can be uploaded in an electronic form thereby discharging the legal duties.

The total income of a person is to be calculated keeping all the related documents like form 16 for salaried people, form 16 A for people who get income from rents etc. Bank deposit Interest proof, interest paid on a home loan, principal amount paid, interest paid on education loans also to be considered before calculating the total income.  If the total income is confirmed to be loss returns has to be filed before 31.07.2010.

How to do E-filing

Prepare an income statement after keeping all the proofs of income through different sources.  This income statement has to be converted in to XML file using the utility option in the Income tax department web site (www. incometaxind.gov.in). Returns can be uploaded after registering through the PIN number as shown in the Income Tax web site.  If you have a digital signature, attach it before uploading the returns.  An acknowledgement will be sent immediately.  Keep the acknowledgement for records.  If digital signature if not attached, send the acknowledgement form(Form V) within 20 days to CPC, Post bag 1, Electronic City Post, Bangalore – 560 100 through speed post or courier.  Do not send it through private courier.  There is no need to attach any additional information along with the acknowledgement.

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