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Documents that should be handy when filing ITR

As the Government of India has already notified the ITR Forms for the Financial Year 2018-19, thereby to ensure easy and convenient filing of the return, it is necessary to collect all the required documents in advance and keep in hand to make the process of ITR filing easier and fast. Filing the Income Tax Return before the due date will also help an assessee to avoid any penalties and interest that would otherwise be levied.

As per the directions of the Income Tax Department, for the Assessment Year 2019-20, all the below-mentioned documents and details related to these documents must be available with the assessee while filing his ITR in order to file his Income Tax Return appropriately:

  1. Bank Statement:

Summary of bank statement/Passbook copy of all the bank accounts of the assessee from the previous fiscal year will be needed.

  • Permanent Account Number of the assessee:

This is required as an individual is identified in his ITR form by his PAN number.

  • Form 16 (if you are a salaried person):

Form 16 is a crucial document as it is a TDS certificate issued by the employer that contains almost all the details about an employee’s salary and TDS deducted on the same, if any.

  • Form 16 A/16 B/16 C :

Form 16 A is issued by the bank in respect of TDS deducted on payments other than salaries such as interest received from fixed and recurring deposits etc. if the amount received exceeds the specified exemption limit.

Form 16 B is issued by the buyer to the seller whenever he buys any property and deducts any TDS on the amount paid as consideration for the property.

Form 16 C is issued by the tenant to the landlord whenever he pays a monthly rent of amount exceeding Rs. 50,000 and deducts TDS on it.

  • Loan statement(if any):

To file your Income Tax Return, it is mandatory to provide details of any loan taken from a bank or any other financial statement during the last financial year.

  • Capital gains:

ITR forms will also require complete details of sale or purchase of any property, mutual funds or equity shares made by the assessee in the last financial year.

  • Aadhaar Card:

From April 1, 2019, to successfully file an ITR, it is essential to provide Aadhaar details and quote Aadhaar number of an individual.

  •  Investment in Unlisted shares:

 ITR-2 requires details of any holding shares of an unlisted company like opening and closing balance, shares acquired and transferred during the preceding financial year, along with the name and PAN details of the company.

  •  Salary slips:

To file ITR 2, an employee also needs salary slips that provides complete details of salary including basic pay, dearness allowance, house rent allowance, etc.

Also, as per the notification issued recently by the Income-tax Department income tax refund will now be credited only to such bank accounts that are linked with the PAN. Therefore, make sure to link your bank account with your Permanent Account Number and pre-validate it at income tax e-filing website before filing your ITR.

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GST Practitioner – Which exam should you pass to become one


The examination of Goods and Service Tax Practitioners (GSTPs) is a computer based examination conducted by The National Academy of Customs, Indirect Taxes and Narcotics (NACIN) for confirmation of enrollment of GSTPs. Every person who has enrolled as GST practitioner under the current regime for not less than 5 years on the GST common portal is required to clear this exam otherwise their enrolment ID will not be held as a valid ID.

A look at the Registration Process

All the eligible GST Practitioners can register for the examination by submitting an online application on the registration portal. The link of registration portal is provided on the official websites of NACIN and CBIC. A help desk is also provided on the registration portal for the convenience of various candidates.

To submit an application, the eligible candidate shall log in on the registration portal by entering the GST enrolment number and PAN number. After successfully logging in, application form will appear on the screen and the most of the data on application form will be automatically filled according to the information available with the GST network as per the GST enrolment number and PAN provided by the user. The applicant can choose a designated test center across the nation to appear for the exam. A softcopy of passport sized photo and signature will also be required to fill the online application form.

After submission of the online application form, the user will be redirected to a page requesting payment of examination fee whereby, the candidate shall pay the nominal amount of 500 INR. The payment is to be made electronically by any online source.

After the successful completion of online payment procedure, user can have access to ‘Candidate’s Dashboard’. From the candidate’s dashboard, the applicant can download his application and admit card to appear for the exam. The dashboard also allows the candidate to download Score card and Examination Certificate. For better practice and idea of exam, mock test of 15-20 questions is available on the Candidate’s Dashboard.  

Examination Pattern

Usually, the examination is held twice in a year according to the guidelines and schedule published by NACIN. The exam can be given any number of times by a candidate. The examination will have multiple choice questions with maximum marks as 200 and to qualify the exam, the candidate is required to score at least 50 % marks. Negative marking is not applicable to the GSTPs examination.

The syllabus covers the CGST Act 2017,State Goods and Services Tax Acts 2017, Union Territory GST act 2017, GST compensation states amendment act 2017, All State Goods and Services Tax Rules 2017 and any other Notifications, Circulars and orders that may be issued by NACIN from time to time.

The result of the examination is published by NACIN on the official site and the candidate may accordingly apply for re-valuation if he has failed in the exam and if not satisfied by his result may even send a representation to the assistant or deputy director of examination head of   NACIN. However, the representation is to be made within 7 days of the declaration of result. Looking for assistance in cracking this exam ?? join Gst training conducted by www.gsttrainingbangalore.com

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DIR-3 KYC Filing Date Extended – How to file the form?

The government has extended due date of filing DIR-3 KYC without any late fee till 15th September. As a part of updating the registry, the Ministry of Corporate Affairs as is conducting KYC of all Directors of all companies annually through DIR-3 KYC form. This form is compulsorily required to be filed by every director who has been allotted a Director Identification Number on or before 31st March of a financial year and whose DIN is in Approved status. It is mandatory for Disqualified directors also. Late filing after 15th September would attract the penalty of RS 5000.

There are no filing Fees for DIR-3 KYC within the due date of the respective financial year, however, if the form is filed after the due date, a fee of Rs.5000 shall be payable and in addition, the DIN of the director will be deactivated with the reason shown as Non-filing of DIR-3 KYC. In future, if the director is looking to re-activate his DIN, the same can be done after paying a late fee of Rs 5000.

Documents required for filing the DIR-3 KYC e-form:

The following documents are required to file DIR 3 KYC e-form. It is necessary to ensure the correctness of all the required documents.

  • Digital signature certificate of Director
  • Self-attested PAN card;
  • Self Attested Aadhar Card or any one of the following: Passport, Election (Voter Identity) Card, Ration Card, Driving License, Electricity bill, Telephone bill.
  • If You have a passport, then self-attested passport also;
  • Permanent residential address of the individual.
  • Unique Mobile No and E-Mail ID and OTP will be required from the same.
  • It is mandatory to get the form attested by a practicing company secretary, chartered accountant or cost accountant.

Steps for filing your DIR – 3 KYC form:

Step 1:  Download the form from the MCA website.

DIR-3 KYC

Step 2: The KYC should have the DIN which should be approved. Once you click the “DIR-3 KYC Form Download, a Zip folder would be downloaded with two PDF. One would be a help PDF and other would be the form.

Step 3: Enter your relevant personal details such as nationality, age, name, address, PAN number, contact details, etc. But the following points should be considered while submitting personal details.

  1. a) The name and address entered should match with the PAN details
  2. b) The person should be at least 18 years old to file the application.
  3. c) The PAN should be verified and the one given in the form should match the one given in the DSC.
  4. d) Foreign nationals who serve as company directors should select nationality as declared in the passport.

Step 4: Upload all the necessary documents as mentioned above. Before uploading, make sure all the documents are attested by the respective authority.

Step 5: Thoroughly proofread all the details and click on the submit button for submitting the form.

Once the eForm  DIR-3 KYC is submitted, the user would get a service request number. Through this SRN, one can check the approval status of the transaction and can use it for future correspondence with the MCA. Also, an email will be received by the applicant regarding the approval of the receipt of the form.

Looking for DIR-ekyc filing help or Digital signature for DIR3-ekyc contact S.kumar  @09902977233 or visit www.saidigitalsignature.com 

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Here is how to check ITR refund status online ?

The refund banker scheme was started in 2007 under which the refunds generated on processing of Income tax Returns by the Assessing officers/ CPC-Bangalore are transmitted to State Bank of India, CMP branch, Mumbai (Refund Banker) on the next day of processing for further distribution to taxpayers. You can also check the refund status through the process mentioned below.

Modes of refund

There are two modes of refund:-

  • RTGS / NECS: To enable credit of refund directly to the bank account, Taxpayer. Bank A/c (at least 10 digits), MICR code of bank branch and correct communication address is mandatory.
  • Paper Cheque: Bank Account No, Correct address is mandatory.

How to view status of refund?

The taxpayer would be able to pay the refund 10 days after their refund has been processed by the assessing officer to the refund banker. The taxpayer would have to fill in his PAN number and assessment year. Here is the link to the page https://tin.tin.nsdl.com/oltas/refundstatuslogin.html

Additionally, refund paid status would also be available in the ‘Tax credit statement’ in Form 26AS.

Process

Step 1 – Go to the Income tax e-filing website by clicking here https://www.incometaxindiaefiling.gov.in/home

Refund Status Home Page

Refund Status Home Page

Step 2 – Click on the option on the left hand side reading – Check refund dispatch Status

Step 3 – Enter the PAN number , assessment year and captcha in the space given

Refund Status page

Refund Status page

Step 4 – Click on Submit to get the status of your refund

Remember that the last date for filing the Income tax return is 31st July 2018. Post this date, under the new rule you would be charged penalty for late filing.

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Here is how to withdraw 75% corpus from EPFO account?

Under the new rule Employee Provident Fund Organization has given green signal to the employees to withdraw 75% of the fund corpus, one month after the unemployment. The 75% of the total amount in the EPFO account can be withdrawn as advance according to the authorities.

Why the decision?

An individual is eligible for the pension on his EPFO account if the account is active for 10 years. However, after losing the job, the common trend is to close the account after two months and in that case an Individual loses the provision of pension. To make sure that the account remains active even after the person is out of job, 75% of the corpus can be withdrawn.

EPFO

EPFO

There is a set procedure allowing an individual to draw the corpus. Here are the steps.

Step 1- Login to the UAN member portal with your UAN credentials

Step 2 – Click online services on the top menu bar and select ‘Claim (Form-31, 19 & 10C)’ from the drop-down menu.

Step 3 – The following page will have Member details, KYC details and service details. Click the tab ‘Proceed for online claim’.

Step 4 – Once, you are redirected to the claim section, there would be more details such as PAN number, UAN, mobile number and so on. You need to select the type of claim-withdraw PF only or withdraw pension only.

Step 5 – You would need to fill the claim and upon the completion, the OTP would be sent to the registered mobile number. The OTP should be entered in the form to initiate the claim. Once the claim form is submitted, an intimation through the message would be sent on the registered mobile number. After the claim is processed, the amount would be transferred to the bank account.

There would be two claim forms when an individual must

fill the form.

  • Only PF withdrawal form 19
  • Only Pension withdrawal form – 10 C

Checking balance

If you are just looking to check the balance of EPFO before deciding on withdrawing the fund, then there are three ways in which you can do it.

Through an SMS

An SMS should be sent to 7738299899 with message EPFOHO UAN ENG. ENG implies that preferred language is English. The other languages are – Hindi, Gujrati, Punjabi, Marathi, Kannada, Tamil, Bengali, Malyalam, Telugu.

Through missed call

  • Give missed call on registered mobile number 011-22901406
  • You will receive an SMS providing the PF details

Through EPFO app

  • Download the app and click on ‘Member’ and then on ‘Balance/Passbook.
  • Enter the registered mobile number and UAN
  • On entering the details, the system would match the details and when matched, the EPF details can be viewed.

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How to check ITR status through acknowledgement number and credentials

After filing the Income tax return, the income tax department starts the verifying and processing the return. In case, the tax payer is looking entitled to refund, same would be credited in his account after the ITR is successfully verified. Once the processing is complete, the individual would be able to see the ITR status as ‘ITR processed’.

Once the complete information is processed and the IT department would inform the tax payer if there is some tax payable or the individual is entitled to the refund. The notice under section 143(1) would be sent in case the individual needs to pay more tax.

You would want to monitor the ITR status on regular basis after filing it. There is a due process that an individual has to follow. Below is the step wise process that should be followed.

Acknowledgement Number

Step 1. On the home page of the e-filing, under the heading services, there is an option for ITR status.

ITR Status 1

ITR Status 1

Step 2. After clicking the option, the individual would be directed to the next page to fill the PAN number, ITR acknowledgement number and the captcha code.

ITR Status 2

ITR Status 2

Step 3 – Once the details has been filled in, the status would be displayed on the screen.

ITR Status 3

ITR Status 3

ITR Status 4

ITR Status 4

Credentials

In case the tax payer has the login credentials, he can check the status through that also.

Step 1 – Login with the valid credentials and there would be an option of ‘View Returns/Forms’.

Login Credentials 1

Login Credentials 1

Step 2 – Go to the ‘View Returns/Form’ option, select the income tax return and assessment year from the dropdown menu and click submit.

Login Credentials 2

Login Credentials 2

Step 3 – Once, you have submitted the details, the status would show on the stating if the ITR is only verified or has to be processed.

Login credentials 4

Login credentials 4

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Employee Provident Fund – How to check the Balance

Employee Provident Fund is one of the biggest benefits that the companies offer us to ensure that we part ways with a little portion of the salary and save it in Provident Fund which becomes a huge corpus and serves us after retirement. However, not everyone knows that all the EPF functionalities have now been made available online and everything from withdrawing the fund to checking the passbook online has become easier.

For those who are not aware on how to access their Passbook online, here are the steps that would help you out:

Step 1 – Go to the EPFO website epfindia.gov.in. Click on e-Passbook towards the right. There would be prompt to enter the UAN number, password and captcha code. Unique Account Number is important as it is inclusive of all the IDs provided to an individual by different firm.

Employee Provident Fund UAN Page

Employee Provident Fund UAN Page

Step 2 – Click on the member-id to view the e-passbook and know the Employee Provident Fund balance.

Employee Provident Fund Balance Page

Employee Provident Fund Balance Page

Checking the Balance Through Missed Call

Over time it has become more convenient to know the balance of the Employee Provident Fund account as the employees can now get to know the balance through a missed call. Subscribers who have registered UAN portal can dial 011-22901406 from their registered mobile number. However the pre-requisite for getting the balance on the phone is that the number must be activated with UAN at the official website of EPFO. Also, if the subscriber is looking to receive details about the last contribution and PF balance, the UAN must be linked with any one of the bank account numbers, Aadhaar and permanent account numbers (PAN) This service is available for free.

Checking Balance Through SMS

It is also possible now to know the latest Employee Provident Fund contribution and balance by sending an SMS to 7738299899 from the registered mobile number. An Individual just needs to type “EPFOHO UAN” to 7738299899. Also, to make it simpler, the facility is offered in 10 languages:

English

Hindi

Telugu

Punjabi,

Marathi

Gujarati

Malayalam

Bengali

Tamil

Kannada

If you want to get the SMS in any other language other than default English, first three characters of the preferred language should be added after UAN. For instance, to get the message in Tamil, the message should be “EPFOHO UAN TAM” to 7738299899.

Umang App

Apart from the above three methods, it is also possible to check the balance through Umang app by clicking on EPFO. Members would land on the page of employee centric services, employer centric services, general services, Jeevan Praman, eKYC services. Tap on the ‘employee centric services and would transfer you to the page that enables passbook view and raise and track claim.

Employees should always track the contribution made by the employer and the latest balance. In the past, there have been scandals where the employers deduct the amount from salary but do not deposit it to the account, therefore employee bearing the tax burden.

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Pan Deactivation- Steps to Reactivate before ITR filing

Just last year, the income tax department deactivated the PAN of those who were allotted more than one PAN at a time. Every Individual is allotted just one pan card and having more than that is illegal therefore leading to Pan Deactivation. Therefore, the drive which was conducted by income tax department last year swept of over 11 lakh Pan cards. However, most the individuals had hardly any idea of such a massive campaign going on across the nation and they got to know only at the time of starting the process of ITR.

How To Check?

To know whether the Pan Deactivation has affected you also, first the status should be checked.

In order to know if the PAN you have been using to file the ITR  is blocked, there are certain steps to be followed.

Step 1 – Assess  https://incometaxindiaefiling.gov.in/e-Filing/Services/KnowYourPanLinkGS.html

Pan Deactivation Status check Detail Page

Pan Deactivation Status check Detail Page

Step 2- Enter Surname, Name, DOB and other information asked along with the Mobile Number. After doing so, you would get OTP on the registered mobile.

Pan Deactivation Final Status Window

Pan Deactivation Final Status Window

Step 3- Result Page would display the PAN and jurisdictional officer address along with active or inactive status.

Pan Status

Pan Status

Pan Deactivation – How To Reactivate?

It is important to know the procedure of getting the Pan reactivated again. Here it is:

  • First of all the individual whose Pan has been deactivated needs to write a letter addressed to their jurisdiction AO in the Income Tax Department asking to reactivate the Pan.
  • All the required documents should be attached which can establish that the PAN which was blocked is being used to file the return. Documents that can be submitted include:
  1. Indemnity Bond in favor of the Income Tax Department
  2. Copy of the Pan which has been used to file the income tax returns regularly.
  3. Copies of Income tax return filed by the assessee over the past three years using the blocked PAN card.

Once, the request has been sent, it would take somewhere around 10-15 business days for the Income Tax department to reactivate the blocked PAN.

Surrendering the Additional Pan Cards

In case you have an additional PAN Card, now is the time to surrender before the Pan Deactivation drive kicks, the procedure of which is quite simple.

Step 1 – Visit the official NSDL Site

Step 2- Select Pan Correct option from the Application type dropdown.

Step 3 : Fill the Details in the page

Step 4- A token would be generated and would be sent on the registered emaili-id. A new page would appear where you would need to mark the option, ‘Submit scanned images through e-Sign’ and below that feed in the PAN number that you want to keep activated. Fill the details asked for

Step 5- The next page would ask for the additional Pan that has been allotted to you and click Next

Step 6- The next page would appear where you would need to upload the scanned images, signature and other documents.

Step 7- Payment to be made for the Pan application within India – 110 INR

For Outside India – 1020 INR

Step 8 – Acknowledgement Window – Make sure to save the window for the future references.

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No more uploading Forms 49 A& 49B post Incorporation

MCA has underwent drastic changes post recent development which has taken place recently. The way of working of MCA and Incorporation has underwent drastic changes in terms of approval of name availability, e-forms for MOA and AOA.

The ease of doing business in India has really ranked up across globe.

As part of its continuous efforts for simplifying Incorporation related process for providing Ease of Doing Business to stakeholders, MCA will be dispensing with the requirement of separately uploading Forms 49 A& 49B after filing SPICe e-forms. Accordingly, With effect from 6PM of 4th November 2017, stakeholders will NOT be required to upload signed 49A/49B using “Submit application for PAN/TAN” service, in respect of any fresh SPICe submission or Re submission cases. PAN and TAN will continue to be issued as before based on the details submitted in the SPICe form itself.

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Format for ID and address proof of Gazetted Certificate for pan purpose

Most of us have issue with changing or applying for new pan using existing address and DOB proof. Name given in ID proof and address proof should be same and should be expanded. If the name is in Initial in proof either in ID proof or Address proof , it will not be accepted as proof. So even if you apply online and submit such documents PAN will not be issued. And you will be asked to get some proof where name should be expanded.

Address proof for pan card

Address proof for pan card

In such case letter from Gazetted officer on their letterhead with seal and sign stating name, full address and DOB will act as Valid ID and Address proof.

                                                                                Format for Gazetted officer for PAN

Many of us would be looking for such fill able format. I here with enclosing such format in fill able PDF for download and use.

Now there is a big waiting for pan .. thanks to Demonetization drive and new debit and credit limit on savings accounts without pan. If you send documents in wrong format you will end up waiting for months together to response as your documents sent for pan applications are not in order. Make sure pan applicant name has to be expanded and same will apply for both ID and address proof.

If any one proof lacks the expansion of last name you need to produce above mentioned letter in original along with application form.

There is one provision to apply for pan using Aadhar but name if not expanded it will not accept for e-sign. You have to manually submit the pan application. For e-sign you should have valid mobile number mapped in aadhar.

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