“ WAKE UP !!! 31/07/2013 DUE DATE FOR INDIVIDUAL INCOME TAX RETURN FILING “
Is your income tax return complete for a.y 2013-2014 ( due date 31/07/2013) ? & Here given some extremely important points for error free return filing …
Friends,
It’s a time for wake up because of only few days to go ( as due date 31/07/2013).
As we are again at the tax filing time of the year, some caution points would ensure an error free tax return filing.
1) Correct ITR Return form for a.y 2013-2014 extremely important ITR forms by CBDT depends on the various kinds of income.
2) Ensure your Correct PAN number on ITR-FORM.
3) Ensure Correct Address of the assessee with pin no.
4) Ensure full digit savings bank a/c number.
5) IFSC CODE OF THE ABOVE BANK NUMBER.
6) ALWAYS OPT FOR ECS IN CASE OF REFUND.
7) Correct Email id & mobile phone number.
8) In Balance sheet , check cl. Balance of bank a/c with actual statement.
9) All bank a/c transactions should be properly disclosed in your p&l & balance sheet.
10) If choose sec 44AA, then fill up all p&l and balance sheet items , otherwise, fill only “ Gross receipts, Gross profit , exp & net profit ( i.e, smaller part option ).
11) Correct Deduction under Chapter VI.
12) Few of us have started investing in the overseas markets or receive some income abroad; the same should be included in the return as well.
13) Ensure correct TAN NO. in case of refund .
14) Correct TDS amount as per 26AS.
15) For Self assessment tax , challan no, BSR Code, amount, date.
16) We should always check whether any losses carried forward to the current assessment year is considered as it may reduce the income chargeable to tax .
17) Correct Jurisdiction code no.
18) On-line filing can be done with or without digital signature. But, for those filing it without using the digital signature, it is mandatory to submit the ITR-V form within 120days from upload to theincome tax officials at Bangalore.
19) Speed post only & don’t mention ‘ post bag no. 1 ) in case of speed post only.
Thanks ..
PALASH RAKSHIT.
CAclubindia
