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Procedure for Filing Income Tax Return

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Procedure for Filing Income Tax Return

The purpose of this article is to explain the procedure for filing an income tax return for different types of taxpayers.

Individuals and Hindu Undivided Family

Manner of filing income tax return for individuals and HUFs will depend upon the conditions specified, which are as follows:

If Accounts are Audited under Section 44AB

Individuals or Hindu Undivided Family whose accounts must be audited under Section 444AB of the Income Tax Act needs to furnish returns electronically under a digital signature.

Super Senior Citizen

Where the total assessable income during the previous year of a person being an individual of the age of 80 years or more; or whose income doesn’t exceed 5 lakh rupees, where no refunds are claimed in the returns of income, as well as those who furnished the return in Form ITR-1 or Form ITR-4, may file their returns in any of the following manner:

  • Electronically under digital signature.
  • Transmission of data in the return through electronic means under an electronic verification code.
  • Transmission of data in the return through electronic means followed by verification of the return in Form ITR-5.
  • Paper form.

All Other Cases

In any other cases, the filing of income tax returns in case of individuals and HUFs can be done through the following means:

  • Electronically under digital signature.
  • Transmission of data in the return through electronic means under an electronic verification code.
  • Transmission of data in the return through electronic means followed by verification of the return in Form ITR-5.

Firm/Limited Liability Partnership/Companies

Let us now review the provisions of filing of income tax returns of a firm/limited liability partnership (LLP)/companies other than those mentioned thus far who must file returns in Form ITR-5. Corporate taxpayers should note that all types of companies including private limited company, one person company and limited company must file income tax returns electronically using a digital signature.

Accounts audited under Section 44AB

If accounts are required to be audited under Section 44AB, then income tax return must be filed electronically under a digital signature.

Other Cases

In any other case, any of the following methods can be adopted by the assessee for filing an income tax return:

  • Electronic filing under a digital signature.
  • Transmission of data in the return through electronic means under an electronic verification code.
  • Transmission of data in the return through electronic means followed by verification of the return in Form ITR-5.

Furnishing of Returns in Form ITR-7

Let us now examine the various aspects of ITR-7, those factors which determine its methodology.

Political Party

Political parties shall file their returns electronically under a digital signature.

Other Cases

In any other cases related to Form ITR-7, any of the following methods may be accepted.

  • Electronic filing under a digital signature.
  • Transmission of data in the return through electronic means under an electronic verification code.
  • Transmission of data in the return through electronic means followed by verification of the return in Form ITR-5.

Duties of an Authorized Representative in relation to Filing of Returns

Every assessee would have an authorized representative, who prepares the returns of income furnished by the assessee. He/She shall, either before making his appearance to a specified jurisdictional officer or immediately after making an appearance, furnish to the particular officer:

  • Particulars of accounts, statements or other documents supplied to him by the assessee for the purpose of preparation of return of income.
  • Any examination of accounts, statements or documents; as well as reports on the scope and result of the examination.

Other Related Guides

Form 64A Form 64A - Income Tax Statement of income distributed by a business trust to be furnished under section 115UA of the Income-tax Act,1961.
What is Income From Other Sources? What is Income From Other Sources? Income from Other Sources is the fifth head of income-classification under the Income Tax Act. Income from other s...
Form 45D Form 45D - Income Tax Information to be furnished to the income-tax authority under section 133B of the Income-tax Act, 1961
Form 2E Form 2E - Income Tax Form 2E is a type of income tax return for resident individual/Hindu undivided family not having income from business or profess...
Form 10C Form 10C - Income Tax Audit report under section 80HH of the Income-tax Act, 1961

Post by Sreeram Viswanath

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