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Old 14th July 2014, 15:20   #526
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Why Cant I just upload it without a digital signature, and how on earth do I get a digital signature?
As for the first question, that would be tantamount to submitting an unsigned document - one which you can disown at a later date. Obviously they don't want you to be able to do that. :-)

How to get a certificate that you can use to digitally sign - go to the CCA's FAQ page: http://cca.gov.in/cca/?q=faq-page and check out the last question. You can get your certificate from any of the vendors listed there. e-Mudra, for example, sells individual use certificate for about Rs. 1200 or so.

Having said that, this hit my mailbox a week or so ago:

https://technet.microsoft.com/en-us/...y/2982792.aspx
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Old 14th July 2014, 15:23   #527
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sells individual use certificate for about Rs. 1200 or so.
It is far cheaper to send them through snail mail. Rs. 2 for print out, Rs. 5 for the envelop and probably Rs.30 in fuel cost for the nearest post office.
I don't know where else would I use the Digital signature apart from this once in a year activity.
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Old 14th July 2014, 15:25   #528
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If your primary source of income is salary, then ITR1, else you need to chose the others accordingly.

I just filed mine, and it took all of 10 minutes to fill it. One illogical thing is, if I cannot digitally sign, I need to take a print out and post it to them through mail. Why Cant I just upload it without a digital signature, and how on earth do I get a digital signature?
Every incometax return should be filed along with the signature. That's the rule.
If you file using your Class II digital signature , it applies that you have signed the return electronically and hence you will get the acknowledgement immediately. If you don't have digital signature , then you will get a from called ITR-V and you need to sign and send to the Bangalore CPC via ordinary mail or speed post and they will send you the acknowledgement separately to your email.
There are lot of DSC providers in India. But it will be a costly thing and wont be useful other than signing the return once a year. But still if you wish to buy digital signature , I will help you .
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Old 14th July 2014, 15:30   #529
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Default Re: All Income Tax Queries (refunds, disputes, rates etc...)

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It is far cheaper to send them through snail mail. Rs. 2 for print out, Rs. 5 for the envelop and probably Rs.30 in fuel cost for the nearest post office.
I don't know where else would I use the Digital signature apart from this once in a year activity.
For certain types of IT returns and corporate regulatory filings, this digital signing is compulsory. Don't be surprised if the ambit of this rule is widened in coming years, so much so that a large part of regular taxpayers are covered. From the IT department's perspective, digital signatures allow them to automate the entire process.

Also, the IT Amendment Act of 2008 provides legal recognition for digital signatures which means that you can sign a lot many documents digitally.
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Old 14th July 2014, 22:19   #530
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Default Re: All Income Tax Queries (refunds, disputes, rates etc...)

For people who want to buy digital signatures, take a look at this one:

https://www.esign.in/digital-signature-certificate

I have no experience from this site, I came across them when I was looking at how to register a company last week If anyone has used their services, pl. post a review.
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Old 14th July 2014, 23:12   #531
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Default Re: All Income Tax Queries (refunds, disputes, rates etc...)

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Every person who made a payment after 1/6/13 (when this rule of TDS @1% for property purchases > 50L was implemented) is facing this issue. The advice currently being circulated on my apartment owners' mailing list is to simply edit this TDS field and set it to 0 so that no refund is computed.
Thanks for the reply. This amount does not show up anymore. May be IT Dept fixed this.

Another query I have is that I missed claiming medican reimbursement and LTA from my employer and as a result they do not show up on my form 16. Can I claim both of them while filing ITR?
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Old 14th July 2014, 23:47   #532
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Another query I have is that I missed claiming medican reimbursement and LTA from my employer and as a result they do not show up on my form 16. Can I claim both of them while filing ITR?
Hi, If you had not claimed the medical reimbursement & LTA then the employer would have included it in taxable salary and paid you too. Didn't you receive the amount from the Company? In any case you cannot claim it while filing in the ITR, because these have to be reimbursed by the company.
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Old 16th July 2014, 18:47   #533
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I have a quick question.
My employer does not 'show' NPS contribution in Form 16.

Under 80CCD, I can get benefits while filing returns, but the way my Form 16 is, since there is no reference to that component, I don't think that IT department will be happy about this.

How are other companies doing this?
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Old 16th July 2014, 19:20   #534
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Another question (mods please merge as I missed the window for editing)

I had invested in IFCI long term Infra bond a few years ago.
I have been getting Rs. 1600 as interest once per year. Somehow I don't remember how this was handled last year, but now when I am trying to file my return it struck me that this interest is perhaps going to be treated as "capital gains".
Can someone confirm this?

I can just put this as "interest from other sources" and pay 30% tax on it, in which case I can file the simpler ITR-1 form.
If this is indeed capital gains, then I have to fill in the ITR2, just for this bond. :(
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Old 17th July 2014, 02:13   #535
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I can just put this as "interest from other sources" and pay 30% tax on it, in which case I can file the simpler ITR-1 form.
(
Yes S_U_N you can do that. The amount earned is interest only and not capital gains.

Regarding NPS please read this : http://articles.economictimes.indiat...ctor-employees

Last edited by spookey : 17th July 2014 at 02:17. Reason: made addition to original post.
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Old 17th July 2014, 11:37   #536
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Default Re: All Income Tax Queries (refunds, disputes, rates etc...)

I am into a weird situation. I usually file my returns through a team (Third party service provider CAs) that comes to my office and employees can submit their form 16 and initiate the process.

This has been working for many years now.

This year, I initiated the returns filing process as usual. However, due to an error on their side, my returns was filed with ITR-1 form instead of ITR-2 form.

Now I've received a confirmation from IT CPC that my returns are filed and ITR V is generated. I should now sign and mail them the ITR V.

I consciously know that the wrong ITR form has been used to file my returns.

What should I do now?

1) Go ahead and submit the ITR V for ITR 1 returns
2) Is there an option to resubmit my return with ITR 2
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Old 17th July 2014, 11:49   #537
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Default Re: All Income Tax Queries (refunds, disputes, rates etc...)

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This year, I initiated the returns filing process as usual. However, due to an error on their side, my returns was filed with ITR-1 form instead of ITR-2 form.
You can file a revised return (make sure you mention it is a revised one and the acknowledgement number of the original return) on the correct form.
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Old 17th July 2014, 13:02   #538
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Yes S_U_N you can do that. The amount earned is interest only and not capital gains.

Regarding NPS please read this : http://articles.economictimes.indiat...ctor-employees
Thanks spookey.

After posting yesterday, I was pointed out to a very important piece of information missing in the ITR page on the income tax website.
If your exempt income exceeds Rs. 5000, you cannot file ITR1 and have to go with ITR2.
This is documented in the ITR1 java application.

Since my exempt income is above that, I have to go the longer method of filling in ITR1. Nevertheless, I don't have capital gains, so I will just club the income from infrastructure bond to "income from other sources".

About NPS, I am hoping that the new government sees some sense and does not really do that. NPS will die even before it becomes popular.
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Old 18th July 2014, 09:21   #539
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Originally Posted by A.R View Post
I am into a weird situation. I usually file my returns through a team (Third party service provider CAs) that comes to my office and employees can submit their form 16 and initiate the process.

This has been working for many years now.

This year, I initiated the returns filing process as usual. However, due to an error on their side, my returns was filed with ITR-1 form instead of ITR-2 form.

Now I've received a confirmation from IT CPC that my returns are filed and ITR V is generated. I should now sign and mail them the ITR V.

I consciously know that the wrong ITR form has been used to file my returns.

What should I do now?

1) Go ahead and submit the ITR V for ITR 1 returns
2) Is there an option to resubmit my return with ITR 2
Why is that you need to file ITR2 . Was any income ommitted ?
Resubmittion can be done. But not advisabel unless you have omitted any taxable income .
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Old 18th July 2014, 13:47   #540
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Default Re: All Income Tax Queries (refunds, disputes, rates etc...)

Finally filed my ITR2 using the Java application.
What I liked about it is that it gives you option to pre-fill information such as personal information, TDS that your employer has deducted and the self-assessment tax that you have paid so far.
The tax calculation tool is also pretty good. I no longer need Nithya's tax calculator (which has been very useful for the last so-many years).
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