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) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
Latest Expert Exchange
« Direct Tax »
 Filing your income tax returns? Here are four challenges that you may face
 Filing your income tax returns? Here are four challenges that you may face
 Here's a list of things to remember while filing income tax returns this year
 How to fill salary details in ITR1 for FY 2017-18
 Filing income tax returns? You need to disclose these assets to the taxman
 Here's why you should not delay filing your income tax returns
 Six changes in ITR 1 form that you must know ITR 2018-19
 Here are top 5 ways to save money, and you won’t even feel the pinch
 Why checking Form 26AS is necessary Income tax return (ITR) filing
 Central Board of Direct Taxes signs three more unilateral Advance Pricing Agreements with taxpayers
 5 different ways to e-verify Income Tax Return

All Income Tax Returns Activated For E-filing
April, 21st 2016

E-filing of income tax return for all category of filers for the assessment year 2016-17 has been operationalised.

"All ITRs including ITR 6 and ITR 7 for AY 2016-17 are available for e-Filing," the Income Tax Department said. The different category of ITRs were operationalised in a phased manner starting April 2.

The Central Board of Direct Taxes (CBDT) had notified the new forms on March 30 and ITRs can be filed till the stipulated deadline of July 31.

A total of nine ITRs have been notified which include the Sahaj (ITR-1), ITR-2, ITR-2A, ITR-3, Sugam (ITR-4S), ITR-4, ITR-5, ITR-6, ITR-7 and an acknowledgement form called the ITR-V.

People with an income of more than Rs 50 lakh per annum and who own luxury items like yacht, aircraft or valuable jewellery will have to disclose these expensive assets with the IT department in the new ITRs under the new scheme.

A 'tax calculator' was also launched by the department for filers which acts as an online computer-based programme, hosted on the website of the tax department, and is meant to help taxpayers or filers assess their tax liability.

Last year, the e-filing commenced on July 1 as there was delay in finalisation of the forms because of the controversy generated over a 14-page form requiring assesses to disclose bank account and foreign travel details.

Later, the form was simplified and the number of pages was reduced to three.

ITR-6 can be used by a company, other than those claiming exemption under section 11 for charitable and religious purposes.

ITR-7 is filed by trusts, political party, institutions, and colleges, among others.

In the financial year 2015-16, a total of 4,33 crore returns were e-filed, about 26.83 per cent more than the previous year.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Achievements

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