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Return of Income
(FILE INCOME TAX RETURN BE SAFE)
Tax Management
Roll No Team Member's
1 Amit Anekar2 Sachin Bhuwalka
3 Mohammed Abid Bijnori
4 Pravin Borghare
5 Vishal Chavan
6 Jyoti Chavan
Date of presentation: 14 January 2012
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Return of Income
What is Return of Income?
Benefit of Filing Return?
Where Can I get Return Form? Which Form is applicable for me?
What documents are to be enclosed?
Where & how to file return? Who is an Assessing officer?
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Voluntary Return of Income
Company or firm
Other than company or firm
CEO of every political party
Scientific Research Association
Hospital and Other Institution
University / Educational Institution
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How to File Return?
Paper
Electronic (compulsory for Companies & firms)
Time for filing ROI
Extension of Time
Return of Loss
Belated Return
Revised Return
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Defective or Incomplete Return [Sec 139 (9)]
Scheme to facilitate submission of Return [Sec
139B]
Power of Board to dispense with furnishing
documents[Sec 139C]
E-filing of return [Sec 139D] Return by whom to be signed [Sec 140]
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ITR Form ClassificationITR1 For Individuals having Income from Salary/ Pension/ family pension & Interest
ITR2 For Individuals and HUFs not having Income from Business or Profession
ITR3 For Individuals/HUFs being partners in firms and not carrying out business or
profession under any proprietorship
ITR4 For individuals & HUFs having income from a proprietary business orprofession
ITR5 For firms, AOPs and BOIs
ITR6 For Companies other than companies claiming exemption under section 11
ITR7 For persons including companies required to furnish return under section
139(4A) or section 139(4B) or section 139(4C) or section 139(4D)
ITR8 Return for Fringe Benefits
ITRV Where the data of the Return of Income/Fringe Benefits in Form ITR-1, ITR-2,
ITR-3, ITR-4, ITR-5, ITR-6 & ITR-8 transmitted electronically without digital
signature
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How to Fill the ITR Form
http://localhost/var/www/apps/conversion/current/tmp/scratch_1/2011_ITR1_r10%20Piyus%20shrivastava.xlshttp://localhost/var/www/apps/conversion/current/tmp/scratch_1/2011_ITR1_r10%20Piyus%20shrivastava.xls7/31/2019 Return on Income-Group 1
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Deductions
80 C LIC Premium, Contri to PF, Home loan etc..
80 CCC Contribution to Pension Fund80 CCD Contribution to Pension Scheme
80 CCF Infrastructure bonds up to Rs. 20k
80 DMedical Insurance premium Rs. 15k & Rs. 20k for Sr.
Citizen
80 DD Maintenance of handicap dependant50k ( >80% - 75k)
80 DDB Medical treatment 40k to 60k
80 E Higher Education loan
80 G Donation to Recognized Charitable trust
80 GG Deductions is respect of Rent Paid
80 GGA Scientific research or rural develoment
80 GGC Contribution given to political party
80 UDeduction in case of a person with disability
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References
Books
1. Singhania, 2011-12, Direct Taxes, 46th Edition
Pg.No.892-902, Taxmann Publications (P) Ltd, Haryana India.
2. Singhania, 2009, Corporate Tax Planning & Business Tax
Procedures, 13th Edition, Pg.No.319-324, TaxmannPublications (P) Ltd, Haryana India
Websites1. http://www.incometaxindia.gov.in/.
2. http://www.taxmann.com3. http://www.trpscheme.com
http://www.incometaxindia.gov.in/http://www.taxmann.com/http://www.trpscheme.com/http://www.trpscheme.com/http://www.taxmann.com/http://www.incometaxindia.gov.in/7/31/2019 Return on Income-Group 1
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Thank You