How to Use Pre-Filled Income Tax Return Forms?
PrintListen to this Article
Pre-filled Income Tax Return Forms
To simplify the procedure of efiling of income tax return, department has come up with new facilities this year, one of which is Pre-filled income tax return forms.
What is a Pre-filled I-T return form?
Pre-filled XML is a utility provided by department through which your personal information and tds details get automatically filled in ITR. Details which get automatically imported into the ITR are:
First Name
Middle name
Surname
PAN
DOB
Status
TDS on Salaries
TDS other than salaries
TCS details
How to download the pre-filled ITR XML data?
First you have to decide the applicable ITR to file your tax return, now download the offline XML utility of the chosen form from income tax efiling website.
Now next step would be to download the pre-filled XML data from income tax efiling site by driving through the following steps:
1. Login at income tax India efiling portal
2. Go to download tab and click on “download pre-filled XML.
3. Select the Assessment year in new screen and click submit button.
4. Save the XML file in your computer
Once you download the pre-filled XML file, open the earlier chosen ITR offline XML utility (Remember to Enable macro in Excel utility and click all the pop-ups one by one).
Click on the button having text “Import your personal details from xml“, given on the right side of your main page of Excel utility to browse and submit the downloaded pre-filled I-T return forms.
As soon as you hit the submit button, your above mentioned details gets automatically imported in the ITR.
Although, pre-filled I-T return form facility reduces the chances of putting wrong information in the return, but still the accountability of verifying the information remains on you. Thus before filing the tax return you should first recheck all the pre-filled information, mainly TDS as per form 26AS.
Category : Income Tax | Comments : 0 | Hits : 1083
Income Tax Alert - Here Are 5 High-Value Transactions That May Come Under Scrutiny. Large Cash Deposits: Any cash deposit exceeding Rs 10 lakh in a financial year across savings accounts draws the attention of the income tax department. Even if deposits are spread across multiple accounts, the cumulative amount beyond the threshold triggers scrutiny. Fixed Deposits: Surpassing the Rs 10-lakh limit in fixed deposits within a financial year prompts inquiries regarding the source of f...
Delhi Court Sentences Woman to 6 months Jail for not filing the return of income (ITR) discussed. Accordingly, the accused is held guilty of not filing the return of income for the assessment year 2014-15 under Section 276CC of The Act. Accordingly, the accused is convicted for an offence punishable under Section 276CC of the Act," the court said in the judgement. "The convict is awarded a sentence of simple imprisonment for six months with a fine of Rs 5,000 and in default to unde...
Corporates, Non-corporates or government department all are procuring major part of services or goods from the MSMEs. There are provision under the Micro, Small, and Medium Enterprises Development (MSMED) Act, to ensure that businesses make payments to MSMEs within a specified time frame, and failure to which can impact the deduction claims for such payments. To facilitate timely payments to micro, small, and medium enterprises (MSMEs) and address the challenges faced by these businesses in rec...
In the Income tax act, the words “Turnover”, “Gross receipts” and Sales are used at many places. In the common business parlance, the terms sales and turnover are used interchangeably. However, as per Income Tax law, guidelines are available on the question of what constitutes turnover. Understanding the concepts of these words is necessary for the purpose of the tax audit. An audit is mandatory for corporate assessees, irrespective of the amount of turnover. In ...
Very Important Income Tax Update regarding Micro and Small Enterprises Section 43B-any amount remains unpaid on year end to creditors, being micro/small entity, beyond 45 days or less, as agreed or 15 days if no agmt, shall be added to taxable Income resulting in huge additional tax liability. Keeping such creditors unpaid is risky. If payment for purchases made from *Micro and Small units* remains outstanding on 31st March, there may be huge tax liability. Therefore...
Comments