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: Central Excise rule to resale the machines to a new company :: ARTICLES ON INPUT TAX CREDIT IN VAT :: ACCOUNTING STANDARD :: cpt :: due date for vat payment :: TAX RATES - GOODS TAXABLE @ 4% :: VAT RATES :: form 3cd :: VAT Audit :: ACCOUNTING STANDARDS :: empanelment :: TDS :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: articles on VAT and GST in India :: list of goods taxed at 4%
 
 
« General »
 Tax breather for foreign investors: All you need to know
 What the increase in tax collections does not tell us about Indian economy post demonetisation
 India’s crazy retrospective tax on foreign funds will tarnish country’s reputation
 How tax related, PAN grievances can be resolved through E-Nivaran
 Tackling income tax exemptions for equities and agriculture
 Amfi wants tax benefits for retirement plans
 Top five factors which could chart market direction in the coming week
 Tax rate hikes boost shadow economy
 Tax mop-up may decline in new amnesty scheme
 Weeks before Budget, Finance Minister Arun Jaitley lists out benefit of low tax rates
 Second home loan tax benefits

Past years tax returns can now be verified online
May, 10th 2016

In a taxpayer-friendly move, the income tax department has allowed electronic verification of tax returns even for previous years in cases where the returns may have remained incomplete due to failure of the taxpayers to post physically signed tax return acknowledgement forms to the central processing centre in Bengaluru.

Till last year, all taxpayers who filled the tax return form online had to follow it up by sending a signed copy of the acknowledgement form to the central processing centre of the tax department in Bengaluru or opt for the more expensive option of getting a digital signature.

If the signed copy does not reach the tax department for any reason, then the return was not considered as valid. This led to refunds of taxpayers getting stuck.

However, last year, the tax department introduced electronic verification of the tax return. It provided taxpayers a choice of either verifying their return by logging into their bank account or through electronic verification using the Aadhaar unique identity number. With this, taxpayers did not have to go through the hassle of posting their signed tax returns.

Hoping to reduce the backlog, the central board of direct taxes (CBDT) has now proposed to extend this facility to all incomplete tax returns uploaded online from assessment year 2009-10 to 2014-15. The tax department has set a deadline of 31 August for completion of the verification process.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Quality Assurance Services Testing and Re-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