“INDIVIDUAL ASSESSEE E-TAX FILING”

Submitted in Partial Fulfillment of the Requirement for

Master of Management Studies (MMS)

Name of the Faculty Guide Name of the Company Guide

Prof. JYOTI SINGHAL Mr. HAROLD DIAS

Submitted By Day and Date

RUPESH VARPE August 2013

Roll No. C-81

Batch of 2012-2014

STERLING INSTIUTE OF MANAGEMENT STUDIES

AFFILIATED TO UNIVERSITY OF MUMBAI

Plot No. 93/93A, Sector19, Nerul (East), Navi Mumbai 400706.

Tel: 022-27702282 Fax: 022-27722290

CERTIFICATE BY THE INSTITUTE

This is Certified that Mr.______________________________________ a student of MMS FINANCE from University Of Mumbai has done his semester project at ____________________________________________ From ______________ to ______________under my guidance.

The Project work entitled “_____________________________________” embodies the original work done by _________________________during his above full semester project training period.

CERTIFICATE OF ORIGINALITY

I. MR. ____________________________ Roll No._______ of 2012, a full time bonafide student of first year of Master of Management Studies (MMS) Programme of NCRD’S Sterling Institute of Management Studies, Nerul, Navi Mumbai, affiliated to University of Mumbai. I hereby certify that this project work carried out by me at Invest Ascent Wealth Advisors Pvt. Ltd. The report submitted in partial fulfillment of the requirements of the programme is an original work of mine under the guidance of the industry mentor__________________________________________________ and faculty mentor Prof. ___________________________ and is not based or reproduced from any existing work of any other person or on any earlier work undertaken at any other time or for any other purpose, and has not been submitted anywhere else at any time.

Prof. JYOTI SINGHAL RUPESH VARPE

Date :-

ACKNOWLEDGEMENT

I have taken efforts in this project. However, it would not have been possible without the kind support and help of many individual and organization. I would like to extend my sincere thanks to all of them.

I am highly indebted to honorable Director Prof. HENRY BABU of NCRD’S Sterling Institute Of Management Studies for giving an excellence opportunity to undergo this training.

I would like to express my special gratitude and thanks to industry person for giving me such attention and time. My particular thanks to my industry mentorMr. HAROLD DIAS, VICE PRESIDENT (MUMBAI OFFICE), for having me in his team and providing me with a wholesome experience.

I would like express thanks to Prof. JYOTI SINGHAL (Project Guide) for their guidance and constant supervision as well as for providing necessary information regarding the project and also for their support in completing the project.

My thanks and appreciations also go to my colleague in developing the project and people who have willingly helped me out with their abilities.

RUPESH VARPE

Date :-

PREFACE

The successful completion of this project ws a unique experience for me because by visiting many place and interacting with various corporate person, I achieved a better knowledge about the income tax filling and financial services perspective. The experience which I gained by doing this project was essential at this turning point of my career. This project is being submitted which content detailed information of income tax with respect to individual assessee filling his/her income under the income tax department under taken by me.

The research provides an opportunity to the student to devote his/her skill knowledge and competencies required during the technical session.

The report on the topic of “Individual Assessee E-tax filing”.

CHAPTER 1

EXECUTIVE SUMMARY

This report contains all the details of Income Tax with respect to individual assessee who is having Income from Salaries, Income form House Property, Income from Capital Gains and Income from Other Sources. This means it includes individuals who will use ITR-1 and ITR-2 from and the various supporting documents which are required for IT returns filling.

This report covers the various deductions which will reduce the overall taxable income of individual assesse and it also covers the various set off and carry forward of losses to subsequent years. It includes the various tax saving instruments which will reduce tax liabililty and will also generate better returns in future.

It covers all the important concepts and procedures under income tax act and the various advantages of online income tax return filing. It was a great exposure to learn about income tax return and online transaction, and solving the client queries with our best knowledge.

TABLE OF CONTENTS

Particulars Page No.CHAPTER 1

Executive Summary VII

CHAPTER 2

Industry Overview 2

CHAPTER 3

Company overview3.1 Introduction3.2 Company Profile3.3 Products3.4 Services3.5 Leading Competitors In E-Filing Returns3.6 Competitors Analysis

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CHAPTER 4

Introduction to Project4.1Tax Filing With InvestAscent4.2 Introduction to Income Tax4.3 Rates of Income for A.Y. 2013-20144.4 E- Filing Process4.5 Advantages of E-Filing

Three types of E-Filing Return Common Process for E-Filing Selecting Appropriate Form Steps for E=Filing Return Supporting Document Important Terms in Income Tax How to file your return through InvestAscent

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CHAPTER 5

Objective. Methodology, Scope, and Limitation 51

CHAPTER 6

Conclusion Bibliography Annexure

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