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: articles on VAT and GST in India :: VAT RATES :: ACCOUNTING STANDARDS :: ARTICLES ON INPUT TAX CREDIT IN VAT :: TDS :: VAT Audit :: Central Excise rule to resale the machines to a new company :: ACCOUNTING STANDARD :: TAX RATES - GOODS TAXABLE @ 4% :: empanelment :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: cpt :: form 3cd :: due date for vat payment :: list of goods taxed at 4%
 
 
« Indirect Tax »
 How it affects long-term capital gains tax calculations
 Should you opt for 'consultant' status to lower tax outgo?
 Income Tax department to issue ‘non-statutory’ letters in case of no reply
 E-commerce majors seek removal of tax at source on sellers
 New direct tax regime would benefit state
 Indirect tax collections increase by 16.9 per cent in January
 Tax officers to file self-appraisal report on e-assessment
 How are you saving tax this season? 10 funds saved tax & delivered 30% returns too
 Increase in taxpayer base will help bring down tax rate, says Arun Jaitley
 There is inconsistency in filing income tax, says CBDT Chairman
 Data analytics to help income tax dept catch evaders

Online Verified Tax Returns Cross Over 1 Crore Mark
July, 05th 2016

The Income Tax department's ambitious plan to verify ITRs electronically through an internet-based system by using the Aadhaar and banking database has crossed the one crore mark.

As per the latest data, over 1.02 crore Income Tax Returns (ITRs) have been verified by the internet-based electronic filing system of the department.

"The figures for e-verified ITRs stand at 1,02,08,715 as of now. The one crore mark was achieved recently and the department wants this to grow by leaps and bounds so that e-filing becomes more popular with taxpayers," a senior official said.

The Central Board of Direct Taxes (CBDT), the policy-making body for the I-T department, had first launched the initiative of linking the two databases-- Permanent Account Number and Aadhaar-- late last year to start a hassle-free and quick electronic filing regime for taxpayers with the help of a One Time Password (OTP) via SMS or email.

The e-filing system allows online verification of a person's ITR by using either the Aadhaar number, internet banking or bank account along with email and mobile number, thereby ending the practice of sending paper acknowledgment to the Centralised Processing Centre (CPC) of the department located in Bengaluru.

The online ITR filing portal of the department is available at https://incometaxindiaefiling.gov.in.

According to the rules notified in this regard by CBDT in July last year, any taxpayer whose income is Rs. 5 lakh or below per annum and has no refund claims can straightaway generate the Electronic Verification Code (EVC) for e-filing and validating their ITR through their registered mobile number and e-mail ID with the department.

They get a system generated one-time password (OTP) to validate their ITRs with the help of the Aadhaar number, e-banking facility and through the ATM-link in certain cases.

This new measure has eliminated the need of sending the paper acknowledgment called ITR-V through post to the CPC. Under the same initiative, over 65 lakh linkages have been achieved till now between the Aadhaar and PAN databse.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Multi-level Marketing MLM India Affiliate Marketing Affiliate Marketing Software MLM Software MLM Solutions Multi level marketing solutions MLM Servi

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