Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: VAT RATES :: form 3cd :: empanelment :: due date for vat payment :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ACCOUNTING STANDARD :: ARTICLES ON INPUT TAX CREDIT IN VAT :: TAX RATES - GOODS TAXABLE @ 4% :: ACCOUNTING STANDARDS :: VAT Audit :: cpt :: list of goods taxed at 4% :: TDS :: Central Excise rule to resale the machines to a new company :: articles on VAT and GST in India
 
 
Direct Tax »
 No change in gold seizure norms in proposed I-T Law amendments
 Direct tax collection will get a long-term boost, Franklin Templeton says
 I-T Act amendments upset calculations of cash hoarders
 Claim tax benefit on costs incurred to evict tenants
 The Integrated Goods And Services Tax Act, 2016
 Here’s what Income Tax Department did leading up to demonetisation
 I-T department asks IDS declarants to pay tax by November 30
 Cash trove tax drive dilemma
  CBDT halves Income Tax refunds issue timeline to 15 days for this fiscal
 CBDT signs four unilateral advance pricing agreements
 Central Board of Direct Taxes allowed Rs 4,500 crore of irregular benefits to infrastructure companies: CAG

End of paper trail in e-filng of Income Tax returns; Aadhaar added
April, 18th 2015

In a major step aimed at easing taxpayer grievances, CBDT on Friday announced that assessees filing I-T returns online will no longer have to send the paper acknowledgement by post as a new Aadhaar-based electronic verification code has been launched to authenticate this document.

The Central Board of Direct Taxes (CBDT), the apex policy making body of the I-T department, has introduced a new column in the ITRs for 2015-16 where an e-filer can provide his Aadhaar number which will have to be authenticated on the official website of the department via a One Time Password (OTP).

“A new EVC, ie. Electronic Verification Code, has been included as the new mode to verify e-returns. The facility will soon be hosted on the website of the e-filing link of the department. The taxpayers no longer need to send the ITR-V paper document to the CPC in Bengaluru, thus ending the cumbersome process which was robbing the e-filing of its ease and fun,” a senior I-T officer told PTI.

The procees, as explained by the officer, will require the e-filer to register his Aadhaar number in the ITR after which the UIDAI database will send an OTP to the registered mobile number of the taxpayer which subsequently will have to be authenticated on the e-filing website.

The I-T Systems Directorate, the officer said, is also in the process of validating net banking identity as the verifier of e-filed I-T returns “very soon.”

The I-T department, through CBDT, had recently decided to completely do away with the “cumbersome” procedure undertaken currently by a taxpayer to send his or her ITR-V (Verification) form to the department’s Central Processing Centre (CPC) based in Bengaluru through post.

A number of taxpayers have earlier complained to the department that despite sending the hard copy of ITR-V by “speed or registered post” their forms were being acknowledged by CPC as “not received” and hence the department has since long been looking at options to do away with this system altogether.

As per existing rules, a person who files his or her tax return online has to send a copy of the ITR-V to CPC within 120 days for processing of the return.

CBDT had in October last year amended the provisions of the I-T Act and made it easy for the department to undertake these new methods for “validation” of e-returns.
The new measure will ease the process of quick generation of refunds of taxpayers.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
System Testing Solution Manual Software Testing Solutions Automation Software Testing Solutions System Workflow Testing System Manual Testing

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions