Income Tax department launches new facility to link Aadhaar with PAN

Income Tax department launches new facility to link Aadhaar with PAN

New Delhi: The Income Tax department has launched a new e-facility to link a person's Aadhaar with the Permanent Account Number (PAN), a mandatory procedure for filing IT returns now.

The department's e-filing website https://incometaxindiaefiling.gov.in/ has created a new link on its homepage making it easy" to link the two unique identities of an individual.

The link requires a person to punch in his PAN number, Aadhaar number and the exact name as given in the Aadhaar card".

After verification from the UIDAI (Unique Identification Authority of India), the linking will be confirmed. In case of any minor mismatch in Aadhaar name provided, Aadhaar OTP (one time password) will be required," the department said in its advisory to taxpayers and individuals.

The OTP will be sent on the registered mobile number and email of the individual.

It urged them to ensure that the date of birth and gender in PAN and Aadhaar are exactly the same, to ensure linking without failure.

There is no need to login or be registered on e-filing website (of the I-T department). This facility can be used by anyone to link their Aadhaar with PAN," it said.

The government, under the Finance Act 2017, has made it mandatory for taxpayers to quote Aadhaar or enrolment ID of Aadhaar application form for filing of income tax returns (ITR).

Also, Aadhaar has been made mandatory for applying for permanent account number with effect from July 1, 2017.

The department, till now, has linked over 1.18 Aadhaar with its PAN database.

While Aadhaar is issued by the UIDAI to a resident of India, PAN is a ten-digit alphanumeric number issued in the form of a laminated card by the IT department to any person, firm or entity.

PTI

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Income tax reduced by 5% for Income upto Rs. 5 lakh: Budget 2017

Income tax reduced by 5% for Income upto Rs. 5 lakh: Budget 2017

Finance Minister announced in the budget speech for 2017-18 today in Lok Sabha, there were legitimate expectations of the salary class after demonetization to reduce the tax burden. He proposed reducing the present rate of income tax from 10 to 5 percent for the first slab of income from 2.5 lakhs to 5 lakh rupees

NEW INCOME TAX RATES 2017-18 (ASSESSMENT YEAR 2018-19)

Total Income	Normal Rates of Income Tax
Up to Rs.2,50,000 to Rs.5,00,000	5%

• All taxpayers above 5 lakh rupees to get benefit of 12,500 rupees across the board
• 10% Surcharge on individuals with income between 50 lakh to 1 Crore
• Surcharge of 10% for individuals earning between Rs 50 lakh- 1 crore; Surcharge for incomes > Rs 1 crore at 15% to continue
• A single one-page form for filing IT returns for taxable income up to 5 lakh rupees
• Tax on income from 2.5 lakh to 5 lakh reduced from 10 per cent to 5 per cent
• Time period of revising tax return to be reduced to 12 months

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Revised Norms of IT Returns; Electronic Verification of Income Tax Returns For A.Y. 2015-16 Introduced

Revised Norms of IT Returns; Electronic Verification of Income Tax Returns For A.Y. 2015-16 Introduced

As per rule 12 of the Income-tax Rules, in case of individuals and certain other specified taxpayer, returns may be filed electronically followed by submission of signed paper copy of ITR-Verification form (ITR-V). However, to provide end-to-end enabled services to the tax payers, a facility has been introduced for electronic verification of the Income-tax Returns for A.Y. 2015-16 in these cases.

Under this, a taxpayer may verify his return through Internet Banking or through Aadhaar based authentication process.

For the convenience of small taxpayers having total income of Rs. 5 lakhs or below without any claim of refund, facility for generating Electronic Verification Code (EVC) has also been provided on the E-filing website of the Department. In such cases EVC will be sent to the Registered Email ID and Mobile Number of the taxpayer. Persons using this facility will not be required to submit a signed paper copy of ITR-V to the Income-tax Department.

Taxpayers are permitted to use Digital Signature Certificate (DSC) to verify their e-filed Income-tax return. The electronic signature is a type of DSC and can be used to verify e-filed Income-tax return. As mentioned above, the taxpayers can use their Aadhaar number for e-filing of return as per the Aadhaar based authentication process.

This was stated by Shri Jayant Sinha, Minister of State in the Ministry of Finance in written reply to a question in Rajya Sabha today.

PIB

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Income Tax: E-filing of newly notified ITRs to begin soon

Income Tax: E-filing of newly notified ITRs to begin soon

New Delhi, Jun 24 (PTI) Taxpayers wanting to file online I-T returns for assessment year 2015-16, using the newly notified ITR-2 or ITR-2A forms, will have to wait for few more days as the tax department is in the process of launching the facility on its official website.

While two other ITRs, ITR-1 and ITR-4S, are ready to be filed and submitted at the official e-filing website– https://incometaxindiaefiling.gov.in– proper links for the two forms used by a majority of taxpayers will be enabled shortly.

Officials said the links for the rest of the ITRs will be available very soon.

The department notified the new set of ITR forms early this week, including a three-page simplified form.
The e-filing of ITR can be done upto till August 31, the new deadline set in this regard by the government after it had dropped the earlier forms which had attracted criticism for seeking numerous additional details like that of filers’ foreign travel and about dormant bank accounts.

The most simplified form, ITR-2A, to be filled by those individuals and HUFs who do not have income from either business, profession or by way of capital gains and do not hold foreign assets, only asks for the passport number of the tax-filer, with the words “if available”.

The ITR-2 is meant for individuals and HUFs having income from business or profession.

Beginning this season, it is expected, that online filers will be given a One-Time Password (OTP) on their mobile phones to validate their returns in order to end the system of sending a paper acknowledgment (ITR-V) of the filed return.

For the same reason, the I-T department has asked taxpayers to provide their Aadhaar number in the ITR so that it can do a back-end validation of the same and successfully process the returns.

PTI

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Salaried Tax Payers With Income Upto Rs. 5 Lakh to file IT Return: Special IT Return Counters

Special IT Return Receipt Counters for Salaried Tax Payers With Income Upto Rs. Five Lakh

Press Information Bureau
Government of India
Ministry of Finance

22-July-2013 18:22 IST

Special IT Return Receipt Counters for Salaried Tax Payers With Income Upto Rs. 5 Lakh

The CBDT has, vide notification dated 1-05-2013, made E-filing of Return compulsory for Assessment Year 2013-14 for persons having total assessable income exceeding Five lakh rupees.

The CBDT vide its earlier notifications had exempted salaried employees having total income upto Rs. 5 lakhs including income from other sources upto Rs. 10,000/- from the requirement of filing return of income for assessment year 2011-12 and 2012-13 respectively. The exemption was available only for the assessment year 2011-12 and 2012-13. The exemption was giving considering ‘paper filing of returns’ and their ‘processing through manual entry’ on system.

However, this year the facility for online filing of returns has been made user-friendly with the advantage of pre-filled return forms. These E-filed forms also get electronically processed at the central processing centre in a speedy manner. Hence, the exemption provided during the last two years is not being extended for assessment year 2013-14. Taxpayers are encouraged to file their returns electronically. E-filing is an easy, fast and secure method of filing of income tax return. Moreover, Digital signature is not mandatory for these taxpayers and they can transmit the data in the return electronically by downloading ITRs, or by online filing and thereafter submit the verification of the return in From ITR-V acknowledgement after signature to Central Processing Centre. The processing for E-filed returns is faster.

From 25th July to 31st July 2013 (Except 27th and 28th July being holidays), Special Return Receipt Counters (FOR SALARIED TAX PAYERS) will operate at Pratayakshar Bhawan, Civic Centre, Minto Road, New Delhi this year. (Instead of Pragati Maidan and Mayur Bhavan as were done in the past).

The special counters have been set up jurisdiction wise as follows:

• For CIT-XIV Charge (Govt. Salary) at ‘B’ Block, Ground Floor in Civil Centre,

• For CIV-XV Charge (PSUs/Schools/Colleges/Bank Salary) at ‘C’ Block, Ground Floor in Civic Centre,

• For CIT-XVI Charge (Private Salary) at ‘C’ Block, Ground Floor in Civil Centre,

• In addition special counters separately will function at ‘B’ and ‘C’ Block in Civic Centre for Senior Citizens and Differently abled persons.

As Returns of Income above Rs. 5 lakhs have to be e-filed online mandatorily, the same will not be received at any of these special counters. Only paper return of income upto 5 lakhs can be filed at these counters. Other facilities like Helpdesk, Tax Return Preparers (TRPs), UTI/NSDL counters, Bank, tax payment facility, PAN facilitation counter etc. Will be also available at Civic Centre, New Delhi during the same period.

Source: http://90paisa.blogspot.in
Via from CG News

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