Tax filing FAQ's Is it mandatory for me to file an Income Tax Return if ...

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29 Οκτ 2013 (πριν από 3 χρόνια και 9 μήνες)

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Tax filing FAQ’s


Is it mandatory for me to file an Income Tax Return if I have a PAN?

No. The following points explain this clearly:



You need to file an Income Tax Return if your total taxable income exceeds the basic
exemption limit before taking into a
ccount deductions.



For the financial year 2008
-
2009, the basic exemption limit is Rs.1,50,000. For women,
the limit is Rs.1,80,000, while for Senior Citizens it is Rs.2,25,000.



You do not need to file an income tax return if your total taxable income doe
s not exceed
the basic exemption limit before taking into account deductions, even though you may have a
PAN.

Who can file an Income Tax Return using Taxsmile?

Any
Individual

havi
ng the following types of income can opt for Taxsmile's services:

1.

Income from Salary

2.

Rental Income from House Property

3.

Income from Sale of Investments (Shares, Mutual Fund units, Bonds) or Property

4.

Income by way of Interest, Dividend, Gifts, Family Pens
ion, Agricultural Income

Why is filing an Income Tax Return using Taxsmile a unique experience?

Taxsmile offers you a unique experience when filing your tax return. Find out how:

1.

You do not need to know Income Tax Laws.

2.

The tax computation is done absolu
tely FREE. You can also view it for free. You pay
only when ready to file.

3.

Taxsmile is itself an eReturn Intermediary, duly authorized by the Income Tax
Department. So we can file your return with the IT Department on your behalf.

4.

Taxsmile uses 128
-
bit e
ncryption Secure Sockets Layer (SSL) technology, used by banks
around the world. Our servers are the safest home for your data!

5.

Taxsmile is the only private efiling portal that allows you to include "Clubbing of
Income" details while preparing your return
.

6.

No advertisements or pop
-
ups on the Taxsmile website.

7.

You can prepare and file your return for all types of Income. Taxsmile has no restriction
on income types in its plan. So even if you earn Salary, Rental and all other types of
income, you can still

choose the basic Filing Plan. Also, you can choose the advanced
plan even if you earn only Salary Income.

After all we were awarded the Best efiling site by PC world in 2008

What are the steps for filing an Income Tax Return using Taxsmile?

1.

Sign up

with Taxsmile.

2.

Enter the relevant financial details. Taxsmile generates your return based on this data.

3.

Taxsmile will review the data you
entered, and let you know if any information is
missing

4.

View your tax computation absolutely FREE!

5.

Make a payment to Taxsmile based on the Filing Plan you chose.

6.

Authorise Taxsmile to efile your Income Tax Return.

7.

Receive via email the Acknowledgement
(if return is signed digitally) or the ITR
-
V (if
not)

Note:

You can download a copy of your Income Tax Return in PDF format and view it. If
required, you can make changes to your Income Tax Return online, at any time before filing it.

Does Taxsmile suppo
rt manual preparation and filing of Income Tax Returns?

No. Taxsmile does not support manual preparation and filing of income tax returns. All returns
are e
-
filed by Taxsmile with the Income Tax Department

Does Taxsmile calculate the Tax Refunds that I am
eligible for?

Yes. In fact, as you enter your details in the relevant sections, our system updates and remembers
your taxable income and tax payable figures.

Once you have entered all the required information, the tax payable by you or refund due to you
w
ill be displayed onscreen. So rest assured
-

the Taxsmile website is not just a tax estimating
tool, but a complete return preparation and filing portal!

What are the methods of e
-
filing an Income Tax Return using Taxsmile?

Taxsmile can help you e
-
file you
r return using 2 filing methods:

Efiling using a Digital Signature



Steps involved:



Register your Digital Signature with Taxsmile



Prepare your return on Taxsmile.



Review your Tax Calculation.



Get your Income tax Return generated in electronic format



Attach Digital Signature (if you don’t have a digital signature, subscribe for Taxsmile
-
Gold and get one).



Authorise Taxsmile to e
-
file your Return.



Get acknowledgment from Income Tax Department in your mail box. That concludes
your efiling.


Efiling w
ithout a Digital Signature



Steps involved:



Register with Taxsmile.



Prepare your return on Taxsmile.



Review your Tax Calculation.



Get your Income tax Return generated in electronic format.



Authorise Taxsmile to e
-
file your Return.



Get ITR
-
V from Inco
me Tax Department in your mail box.



Download and print ITR
-
V, sign it and enclose it in a A
-
4 size envelope.



Mail this envelope to
“Income Tax Department


CPC, Post Box No.1, Electronic
City Post Office, Bangalore


560100, Karnataka”

within 30 days of
e
-
filing.



Receive e
-
mail from Income Tax Department, acknowledging the receipt of ITR
-
V. That
is your final acknowledgement. That
concludes your efiling
.

What is Taxsmile Silver and Taxsmile Gold?

T
axsmile Silver

and
Taxsmile Gold

are names of filing plans offered by Taxsmile. Each filing
plan has its own features and benefits. You can choose your plan based on your unique
require
ment.

What is the difference between filing plans and filing methods that Taxsmile offers?

Filing Method refers to the mode of filing an Income Tax Return, e.g. e
-
filing using a digital
signature. Filing Plan refers to the different modes of service provi
ded by Taxsmile in order to
help you file your Income Tax return

Can you help me choose a plan that best suits my needs?

To chose a plan, you first need to select your filing method.



If you want to e
-
file without using a Digital Signature, Taxsmile
-
Silve
r is the best plan.



If you want to e
-
file using a Digital Signature, check whether you have a valid Digital
Signature




a. If you do not have a Digital Signature, go for Taxsmile
-
Gold. Taxsmile will provide you
Class
-
II digital signature with one yea
r


validity issued by e
-
Mudhra, on application.



b. However if you already have a Digital Signature, go for Taxsmile
-
Silver. You will be able
to e
-
file using your Digital Signature.

What steps are to be followed when I e
-
file without using a
Digital Signature?

When you e
-
file without using a Digital Signature, you receive ITR
-
V as an attachment in the e
-
mail sent by the Income Tax Department. Since the return you filed was not signed, your filing is
still incomplete. To complete the return fil
ing process, follow the below mentioned steps




Print and sign ITR
-
V.



Do not fold this signed ITR
-
V. Enclose the same in A
-
4 size envelope.



Mail the envelope within 30 days of e
-
filing to



Income Tax Department


CPC


Post Box No.1,



Electronic City Post Office,


Bangalore


560100, Karnataka.




Upon receipt of ITR
-
V, Income Tax Department will send an e
-
mail acknowledging the
receipt of signed copy of ITR
-
V. this is your acknowledgement.



Your filing is now complete.

What is a
n ITR
-
V?



ITR
-
V stands for ‘Income Tax Return


Verification’ form.



This form is received when you e
-
file without using a digital signature.



Income Tax Department needs to verify the authenticity of income tax return when filed
online without using a digi
tal signature.



On receipt of ITR
-
V you have to sign the copy and submit to the Income Tax Department
to complete the filing process.

Can I submit ITR
-
V anywhere else in India?

No, you cannot. From this year onwards, you have to compulsorily mail your ITR
-
V in a sealed
A
-
4 envelope to the address mentioned above.

Is there any time limit for submitting ITR
-
V to Income Tax Department?

Yes, you should mail your ITR
-
V within 30 days of e
-
filing your return.

What if I do not submit ITR
-
V within 30 days?

If you
miss submitting your ITR
-
V within 30 days, your e
-
filing will be considered as null and
void. It means that it will be considered that you have not yet filed your return. In such a case
you will have to re
-
file your return, get a new ITR
-
V and submit the s
ame within 30 days.

What is the Last Date for filing an Income Tax Return?

The Last Date to file your Income Tax Return is 31st July. Thus for financial year ended on 31st
March, 2009, the last date of filing return is 31st July, 2009.

Does that mean that

I cannot file return after the last date mentioned?

No, it does not mean so. You can file return after the last date also. However in such case you
will have to pay penal interest @ 1% per month for late filing.

What is Revised Return and can I file a Rev
ised Return using Taxsmile?

Revised return is filed when there were some mistakes when you originally filed your return and
now you want to rectify that mistakes and file a rectified return. With Taxsmile you can prepare
revised return and file.

Whom shou
ld I contact in case I have queries / difficulties?

Taxsmile's Customer Support team will be happy to help resolve all your doubts and queries.
You can either: Call us on 080
-
67821616 or Write to us at

info@taxsmile.c
om
.

I think online filing could be more complex than physical filing. Can Taxsmile help me if I
need guidance?

With Taxsmile, you can confidently prepare and file your Income Tax Return on your own. We
believe you can, because:



You are guided through simp
le interactive screens with online help available at each step.



If you have basic queries like navigating through the website, printing your return etc.,
you can contact us by phone or email us.



Your tax calculations are done by intelligent algorithms th
at are built into our website and
incorporate the latest updates. So you do not have to bother about tax laws and updates. Our
system does it all!

Actually, filing returns online is not at all difficult. Read the
feedback from other customers

just
like you about filing using Taxsmile.

How secure is my data with Taxsmile?

Taxsmile protects your data in several ways.



Taxsmile uses globally accepted 128
-
bit encryption Secure Sockets Layer (SSL)
technolo
gy to protect your data while being transmitted from your computer to its data servers.
This technology is used by banks globally, and offers the highest level of protection against any
third
-
party intrusion



Taxsmile servers are secured with firewalls to
safeguard your data from viruses and
unauthorized intrusion attacks. They are monitored around
-
the
-
clock for any denial of service or
intrusion attacks



As a registered user of Taxsmile, you can access your data through a unique password,
which you create
when you register for our service. Since your password is unique to you, only
you can access your data. We have implemented a stringent security policy to protect your data
against unauthorized access.