Electronic Furnishing of Return of Income Scheme was launched by the Income Tax Department (ITD) to enable assessees to electronically file their returns of income through authorised e-Return Intermediary on their behalf. The registered e-Return Intermediaries are allowed to file an income tax return under this scheme electronically. In this article, we look at the Electronic Furnishing of Return of Income Scheme in detail.
Any person, except an Association of Persons/ Body of Individuals which possesses a PAN (permanent account number) or assessable to tax. The below following are the eligible entities who can file their return of income under the Electronic Furnishing of Return of Income Scheme scheme.
- A Public Sector Company as determined in clause (36A) under section 2 of the Act or any other company in which the public are substantially interested within the meaning of clause (18) under section 2 of the Act and any subsidiary of those companies.
- A Company incorporated in India includes Bank that is having a net worth of rupees one crore or more
- A Firm of Chartered Accountants
- A Firm of Advocates
- A Firm of Company Secretaries
- A Chartered Accountant
- An Advocate
- A Company Secretary
- Tax Return Preparers (Income Tax)
- A Disbursement Officer (DDO) of a Government Department
- A Cost Accountants
- A Firm of Cost Accountants
The below following are the proofs that have to be submitted for the electronic filing of Income Tax Returns.
- Due Diligence Certificate in the prescribed format
- Proof of Memorandum Of Association
- Proof of certificate of registration issued by Registrar of Companies
- Proof of PAN Card issued to the applicant
- Proof of Memorandum of Association of Holding Company
- Proof of Certificate of Registration issued by Registrar of Companies to Holding Company
- Proof of PAN Card issued to Holding Company
- Proof of Declaration from Holding company
- Proof of Registration Certificate issued to the firm by The Institute of Chartered Accountant of India
- Copy of Networth Certificate ( In case of companies incorporated in India)
- Proof of RBI approval (In case of Banks)
- Proof of Registration Certificate issued to the firm by Bar Council of India
- Proof of Registration Certificate issued to the firm by the Institute of Company Secretaries of India
- Proof of Certificate of Practice granted to the applicant by the Institute of Chartered Accountant of India
- Proof of Certificate of Bar Council of India
- Proof of Certificate of Practice granted to the applicant by the Institute of Company Secretaries of India
- Copy of Tax Return Preparers Course Completion Certificate issued by Income Tax Department
- Proof of Tax Return Preparers Identity Card issued by Income Tax Department
- Letter from the concerned Officer in case of Government Department
- Proof of Tax Deduction / Collection Account Number (TAN) allotment letter
- Proof of Certificate of Practice issued to the applicant by the Institute of Cost Accountant of India
Note: These requisite documents and payment should be sent to NSDL in 15 days from the date of online application.
Pre-requisites for e-Return Intermediaries
All the entities are required to be in possession of the following:
- An entity must have a Digital Signature Document (Class II or Class III) from any of the authorised Certifying Authorities for the purpose of digitally signing the application and the returns uploaded online.
- The digital document must be in the name of the applicant. If the digital certificate is with the name of an employee or partner of the aspirant, then an authorisation letter by the aspirant should be provided on the letterhead of the applicant to NSDL.
- The entity must submit a due diligence certificate from certified experts in the prescribed form that it has the specific computing infrastructure.
Kindly follow the below procedure to register for the e-Return Intermediary online.
Step 1: An eligible entity shall access the official NSDL website for the registration of e-Return Intermediary online.
Step 2: Then fill out the registration form as per the instructions that are given in the website. (Physical applications are entertained)
Step 3: Upon finishing the application form, submit it online. On confirmation of the application, an acknowledgement number will be received that is displayed on the screen. Make a print or save the same for future reference.
Step 4: The acknowledgement slip must be duly signed. In case of entities except for Chartered Accountant, an Advocate, a Company Secretary or Tax Return Preparers (Income Tax), the authorised official shall sign the acknowledgement slip and affix with the appropriate seal or stamp.
Step 5: The duly signed acknowledgement slip along with all the above-mentioned documents, due diligence certificate and requisite payment must be sent to NSDL.
Step 6: The payment for the processing of registration can be made either by Cheque or Demand Draft (DD) in favour of ‘NSDL – ERI’ for the amount of Rs. 4,600.
Note: The Demand Draft (DD) shall be payable at MUMBAI. In case of cheque (drawn on any bank) with any HDFC Bank branch across the country (except Dahej).
Step 7: On receipt of required documents and the realisation of payment, the NSDL will assign with the user id and password. NSDL will also notify a URL provided to access the ITD website specified for upload of data in the prescribed form. Now the user will be notified with the user id and password via the e-mail address that has been provided in the application form.
Step 8: Now login with the login credentials and conduct the data transmission test as directed in the official site.
Step 9: On successful completion of this test, ITD will enable the applicant for the filing of e-Returns as per the scheme.
Step 10: For this purpose, ITD will provide a unique e-Return Intermediary Identification Number (ERIIN) and password to the applicant.
Status of Application
The status of the application will be notified via e-mail. Also, the user will be notified in the case of rejection of the application. For any future correspondence with NSDL, quote the 15-digit acknowledgement number.