13 points to consider in filing correct income tax return and its processing at CPC, Bangalore.

As the due date for filing the Income Tax Return for Assessment year 2015-16 is approaching ie 31st August 2015, please find below certain important points which will be helpful in submitting a correct return and its processing at CPC, Bangalore.

  1. Electronic filing of income tax return is mandatory for the taxpayer if the total income is more than Rs. 5 lakh or if there is a claim of refund except for super senior citizen (Age above 80 years) or if ITRs 3, 4, 5, 6 or 7 have to be filed (Rule 12 (3) of the Income Tax Rules, 1962 as amended).
  1. Details regarding how to file the income tax return is available at incometaxindiaefiling.gov.in-> Help tab -> ‘How to e-file’ and for any other queries on e-filing -> Please go to -> Help tab -> FAQ.
  1. New functionality of electronic verification code (EVC) of the Income Tax return has been introduced vide Notification No. 2/2015, dated 13/07/2015. You can use this facility as an alternative for submission of ITR-V to CPC- Bangalore. [ Read: How to e-file return using EVC without sending signed copy of ITR-V? ]
  1. For the Assessment year 2015-16, all form types have been notified vide Notification No. 49/2015 dated 22/June/2015 and vide Notification No. 16/2015 dated 29/July/2015. The e-return preparation utility is already available in the e-filing website for filing of return.

To ensure early processing of the electronically filed Income Tax Return and issue of refund by CPC, the following aspects may be taken care of

  1. Please ensure all the information like PAN/ Name/ Date of birth/ Date of incorporation etc. are filled correctly in the Income Tax Return. You are requested to use the appropriate form type while filing the income tax return.
  1. Regularly update the Address/ Email Address/ Mobile number by logging into the e-filing website (incometaxindiaefiling.gov.in) with your user id and password under profile tab. This is essential as CPC uses these details for sending all the communications.
  1. Tax credits: Due care may be taken to avoid any input error of TAN number/ Challan number/ amount and date while entering the tax credits details in the Income Tax Return. To check the details of tax credits visit incometaxindiaefiling.gov.in -> Form 26AS.
  1. Refund: For refund payments, the bank account details along with the correct IFSC code should be mentioned to enable faster refund payment through ECS.
  1. Outstanding demand: Timely action should be taken for all outstanding demand as reflected in the e-filing website. To know the outstanding demand and to furnish your response to each demand, login incometaxindiaefiling.gov.in -> e-file tab -> Response to outstanding tax demand.[ Read: Steps to be taken in case of outstanding tax demand ]
  1. Correctness and Completeness of Income Tax Return: Non-filing of the relevant schedules or incomplete data in the return is the most common reason for difference in the Income/ Tax computation by the department. To know further details, login incometaxindiaefiling.gov.in -> Help tab -> e-filing check points.
  1. Removal of defects: Any defects flagged in course of the preparation of the e-return or while uploading the XML at e-filing website should be corrected so that your return will be processed accurately.
  1. The complete details of processing of income tax return including issue of mandatory notices/ failed refunds/ demand outstanding/ rectification status etc are available at e-filing website after login under My Account tab -> ‘e-Filed Returns/Forms’ on selecting the Acknowledgement number.
  1. The “Work list” on the “Home” page of the e-filing website may please be checked periodically to verify pending proceeding/ actions from the taxpayers end.


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About CA Prakash Chartered Accountant Bangalore

CA Prakash is a practicing chartered accountant and partner in Bangalore -based CA Firm. For further information or query, please email it to team@simplifiedlaws.com

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