{"id":23198,"date":"2022-09-07T20:38:52","date_gmt":"2022-09-07T15:08:52","guid":{"rendered":"https:\/\/carajput.com\/blog\/?p=23198"},"modified":"2024-04-05T12:42:12","modified_gmt":"2024-04-05T07:12:12","slug":"ifaq-on-income-tax-return-filling-forms","status":"publish","type":"post","link":"https:\/\/carajput.com\/blog\/ifaq-on-income-tax-return-filling-forms\/","title":{"rendered":"FAQs on Income Tax Return Filling Forms"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_58 counter-hierarchy ez-toc-counter ez-toc-light-blue ez-toc-container-direction\">\n<p class=\"ez-toc-title\">Page Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-69dc546093f6b\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #000000;color:#000000\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #000000;color:#000000\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-69dc546093f6b\"  aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/carajput.com\/blog\/ifaq-on-income-tax-return-filling-forms\/#FAQs_on_Income_Tax_Return_Filling_Forms\" title=\"FAQs on Income Tax Return Filling Forms\">FAQs on Income Tax Return Filling Forms<\/a><ul class='ez-toc-list-level-3'><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/carajput.com\/blog\/ifaq-on-income-tax-return-filling-forms\/#Q1_Does_an_individual_being_an_NRI_or_resident_but_not_ordinary_resident_RNOR_required_to_disclose_details_of_their_directorship_in_a_foreign_company_not_having_any_income_accruing_or_arising_in_India\" title=\"Q.1:\u00a0 Does an individual, being an NRI or resident but not ordinary resident (RNOR)), required to disclose details of their directorship in a foreign company not having any income accruing or arising in India?\">Q.1:\u00a0 Does an individual, being an NRI or resident but not ordinary resident (RNOR)), required to disclose details of their directorship in a foreign company not having any income accruing or arising in India?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/carajput.com\/blog\/ifaq-on-income-tax-return-filling-forms\/#Q2_In_case_unlisted_equity_shares_is_acquired_or_transferred_by_way_of_gift_will_amalgamation_merger_demerger_or_bonus_issue_etc_how_to_report_the_%E2%80%9Ccost_of_acquisition%E2%80%9D_and_%E2%80%9Csale_consideration%E2%80%9D_in_the_relevant_column\" title=\"Q.2: In case unlisted equity shares is acquired or transferred by way of gift, will, amalgamation, merger, demerger, or bonus issue etc., how to report the \u201ccost of acquisition\u201d and \u201csale consideration\u201d in the relevant column?\">Q.2: In case unlisted equity shares is acquired or transferred by way of gift, will, amalgamation, merger, demerger, or bonus issue etc., how to report the \u201ccost of acquisition\u201d and \u201csale consideration\u201d in the relevant column?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/carajput.com\/blog\/ifaq-on-income-tax-return-filling-forms\/#Q3_Where_a_person_hold_shares_in_an_unlisted_foreign_company_which_has_been_duly_reported_in_the_Schedule_FA_shall_be_required_to_report_the_same_again_in_the_column_requiring_information_of_unlisted_shared_held_during_previous_year\" title=\"Q.3: Where a person hold shares in an unlisted foreign company which has been duly reported in the Schedule FA, shall be required to report the same again in the column requiring information of unlisted shared held during previous year?\">Q.3: Where a person hold shares in an unlisted foreign company which has been duly reported in the Schedule FA, shall be required to report the same again in the column requiring information of unlisted shared held during previous year?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/carajput.com\/blog\/ifaq-on-income-tax-return-filling-forms\/#Q4_I_have_held_unlisted_equity_shares_as_stock-in-trade_of_business_during_the_previous_year_Whether_I_have_to_report_the_same_in_the_column_requiring_information_of_unlisted_shared_held_during_previous_year\" title=\"Q.4: I have held unlisted equity shares as stock-in-trade of business during the previous year. Whether I have to report the same in the column requiring information of unlisted shared held during previous year?\">Q.4: I have held unlisted equity shares as stock-in-trade of business during the previous year. Whether I have to report the same in the column requiring information of unlisted shared held during previous year?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/carajput.com\/blog\/ifaq-on-income-tax-return-filling-forms\/#Q5_what_is_the_reporting_requirement_as_to_equity_shares_of_a_Co-operative_Bank_or_Credit_Societies_that_are_unlisted\" title=\"Q.5: what is the reporting requirement as to equity shares of a Co-operative Bank or Credit Societies, that are unlisted?\">Q.5: what is the reporting requirement as to equity shares of a Co-operative Bank or Credit Societies, that are unlisted?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/carajput.com\/blog\/ifaq-on-income-tax-return-filling-forms\/#Q6_Does_sale_of_land_and_building_to_a_non-resident_require_reporting_of_PAN_of_buyer_in_the_table_A1B1_in_Schedule_CG\" title=\"Q.6: Does sale of land and building to a non-resident require reporting of PAN of buyer in the table A1\/B1 in Schedule CG?\">Q.6: Does sale of land and building to a non-resident require reporting of PAN of buyer in the table A1\/B1 in Schedule CG?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/carajput.com\/blog\/ifaq-on-income-tax-return-filling-forms\/#Q7_whether_a_resident_required_to_report_the_details_of_sale_of_property_held_outside_India_and_identity_of_buyer_in_Schedule_CG\" title=\"Q.7: whether a resident required to report the details of sale of property held outside India, and identity of buyer in Schedule CG?\">Q.7: whether a resident required to report the details of sale of property held outside India, and identity of buyer in Schedule CG?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/carajput.com\/blog\/ifaq-on-income-tax-return-filling-forms\/#Q8_Whether_details_of_assets_held_as_stock-in-trade_of_business_be_reported_by_an_unlisted_company_along_with_the_details_of_assets_and_liabilities_in_the_Schedule_AL-1_of_ITR-6\" title=\"Q.8: Whether details of assets held as stock-in-trade of business, be reported by an unlisted company along with the details of assets and liabilities in the Schedule AL-1 of ITR-6?\">Q.8: Whether details of assets held as stock-in-trade of business, be reported by an unlisted company along with the details of assets and liabilities in the Schedule AL-1 of ITR-6?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/carajput.com\/blog\/ifaq-on-income-tax-return-filling-forms\/#Q9_Where_the_foreign_assets_held_during_the_previous_year_has_been_reported_in_the_Schedule_FA_whether_same_be_reported_again_in_the_Schedule_AL\" title=\"Q.9: Where the foreign assets held during the previous year has been reported in the Schedule FA, whether same be reported again in the Schedule AL?\">Q.9: Where the foreign assets held during the previous year has been reported in the Schedule FA, whether same be reported again in the Schedule AL?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/carajput.com\/blog\/ifaq-on-income-tax-return-filling-forms\/#Q_10_Does_an_unlisted_foreign_company_required_to_furnish_details_of_shareholding_in_the_Schedule_SH-1_of_ITR-6\" title=\"Q 10: Does an unlisted foreign company required to furnish details of shareholding in the Schedule SH-1 of ITR-6?\">Q 10: Does an unlisted foreign company required to furnish details of shareholding in the Schedule SH-1 of ITR-6?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/carajput.com\/blog\/ifaq-on-income-tax-return-filling-forms\/#Q11_Does_an_unlisted_foreign_company_required_to_furnish_details_of_assets_and_liabilities_in_the_Schedule_AL-1_of_ITR-6\" title=\"Q.11: Does an unlisted foreign company required to furnish details of assets and liabilities in the Schedule AL-1 of ITR-6?\">Q.11: Does an unlisted foreign company required to furnish details of assets and liabilities in the Schedule AL-1 of ITR-6?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/carajput.com\/blog\/ifaq-on-income-tax-return-filling-forms\/#Q12_Does_a_farmer_producer_company_defined_under_section_581A_of_Companies_Act_1956_required_to_furnish_details_of_shareholding_in_the_Schedule_SH-1_of_ITR-6\" title=\"Q.12: Does a farmer producer company defined under section 581A of Companies Act, 1956, required to furnish details of shareholding in the Schedule SH-1 of ITR-6?\">Q.12: Does a farmer producer company defined under section 581A of Companies Act, 1956, required to furnish details of shareholding in the Schedule SH-1 of ITR-6?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/carajput.com\/blog\/ifaq-on-income-tax-return-filling-forms\/#Q13_does_a_company_required_to_disclose_break-up_of_only_payments_and_receipts_during_the_year_in_foreign_currency_as_per_Schedule_FD_of_ITR-6\" title=\"Q.13: does a company required to disclose break-up of only payments and receipts during the year, in foreign currency, as per Schedule FD of ITR-6?\">Q.13: does a company required to disclose break-up of only payments and receipts during the year, in foreign currency, as per Schedule FD of ITR-6?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/carajput.com\/blog\/ifaq-on-income-tax-return-filling-forms\/#Q14_what_is_the_important_of_filing_income_tax_returns\" title=\"Q.14: what is the important of filing income tax returns?\">Q.14: what is the important of filing income tax returns?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/carajput.com\/blog\/ifaq-on-income-tax-return-filling-forms\/#Q15_what_is_the_procedure_for_filing_ITR_online\" title=\"Q.15: what is the procedure for filing ITR online?\">Q.15: what is the procedure for filing ITR online?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-17\" href=\"https:\/\/carajput.com\/blog\/ifaq-on-income-tax-return-filling-forms\/#Q16_What_is_the_procedure_for_getting_the_copy_of_income_tax_return_filed\" title=\"Q.16: What is the procedure for getting the copy of income tax return filed?\">Q.16: What is the procedure for getting the copy of income tax return filed?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-18\" href=\"https:\/\/carajput.com\/blog\/ifaq-on-income-tax-return-filling-forms\/#Password_Format_for_Deductor_and_Tax_Payer_for_Various_Services_on_TRACES_Portal\" title=\"Password Format for Deductor and Tax Payer for Various Services on TRACES Portal\">Password Format for Deductor and Tax Payer for Various Services on TRACES Portal<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-19\" href=\"https:\/\/carajput.com\/blog\/ifaq-on-income-tax-return-filling-forms\/#Q17_You_have_are_6_way_how_you_can_e-verify_your_Income_tax_return\" title=\"Q.17:\u00a0 You have are 6 way how you can e-verify your Income tax return ?\">Q.17:\u00a0 You have are 6 way how you can e-verify your Income tax return ?<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h3><a href=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2019\/07\/FAQs-On-ITR-Filling-Forms...jpg\"><img loading=\"lazy\" decoding=\"async\" class=\" wp-image-12933\" src=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2019\/07\/FAQs-On-ITR-Filling-Forms...jpg\" alt=\"FAQs On ITR Filling Forms\" width=\"990\" height=\"289\" srcset=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2019\/07\/FAQs-On-ITR-Filling-Forms...jpg 965w, https:\/\/carajput.com\/blog\/wp-content\/uploads\/2019\/07\/FAQs-On-ITR-Filling-Forms..-300x88.jpg 300w, https:\/\/carajput.com\/blog\/wp-content\/uploads\/2019\/07\/FAQs-On-ITR-Filling-Forms..-768x224.jpg 768w, https:\/\/carajput.com\/blog\/wp-content\/uploads\/2019\/07\/FAQs-On-ITR-Filling-Forms..-800x234.jpg 800w\" sizes=\"(max-width: 990px) 100vw, 990px\" \/><\/a><\/h3>\n<h2><span class=\"ez-toc-section\" id=\"FAQs_on_Income_Tax_Return_Filling_Forms\"><\/span><span style=\"color: #ff0000;\">FAQs on Income Tax Return Filling Forms<\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3><span class=\"ez-toc-section\" id=\"Q1_Does_an_individual_being_an_NRI_or_resident_but_not_ordinary_resident_RNOR_required_to_disclose_details_of_their_directorship_in_a_foreign_company_not_having_any_income_accruing_or_arising_in_India\"><\/span><span style=\"color: #000080;\">Q.1:\u00a0 Does an individual, being an NRI or resident but not ordinary resident (RNOR)), required to disclose details of their directorship in a foreign company not having any income accruing or arising in India?<\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Ans:\u00a0Yes.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Q2_In_case_unlisted_equity_shares_is_acquired_or_transferred_by_way_of_gift_will_amalgamation_merger_demerger_or_bonus_issue_etc_how_to_report_the_%E2%80%9Ccost_of_acquisition%E2%80%9D_and_%E2%80%9Csale_consideration%E2%80%9D_in_the_relevant_column\"><\/span><span style=\"color: #000080;\">Q.2: In case unlisted equity shares is acquired or transferred by way of gift, will, amalgamation, merger, demerger, or bonus issue etc., how to report the \u201ccost of acquisition\u201d and \u201csale consideration\u201d in the relevant column?<\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>In such a case, provide zero value or the appropriate value against \u201ccost of acquisition\u201d or \u201csale consideration\u201d. It is provided that the details of unlisted equity shares held during the year are required only for the purpose of reporting.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Q3_Where_a_person_hold_shares_in_an_unlisted_foreign_company_which_has_been_duly_reported_in_the_Schedule_FA_shall_be_required_to_report_the_same_again_in_the_column_requiring_information_of_unlisted_shared_held_during_previous_year\"><\/span><span style=\"color: #000080;\">Q.3: Where a person hold shares in an unlisted foreign company which has been duly reported in the Schedule FA, shall be required to report the same again in the column requiring information of unlisted shared held during previous year?<\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Yes.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Q4_I_have_held_unlisted_equity_shares_as_stock-in-trade_of_business_during_the_previous_year_Whether_I_have_to_report_the_same_in_the_column_requiring_information_of_unlisted_shared_held_during_previous_year\"><\/span><span style=\"color: #000080;\">Q.4: I have held unlisted equity shares as stock-in-trade of business during the previous year. Whether I have to report the same in the column requiring information of unlisted shared held during previous year?<\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Yes.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Q5_what_is_the_reporting_requirement_as_to_equity_shares_of_a_Co-operative_Bank_or_Credit_Societies_that_are_unlisted\"><\/span><span style=\"color: #000080;\">Q.5: what is the reporting requirement as to equity shares of a Co-operative Bank or Credit Societies, that are unlisted?<\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>The taxpayer is required to report the details of equity shares held in any entity which is registered under the Companies Act, and is not listed on any recognised stock exchange.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Q6_Does_sale_of_land_and_building_to_a_non-resident_require_reporting_of_PAN_of_buyer_in_the_table_A1B1_in_Schedule_CG\"><\/span><span style=\"color: #000080;\">Q.6: Does sale of land and building to a non-resident require reporting of PAN of buyer in the table A1\/B1 in Schedule CG?<\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>It is mandatory for every taxpayer, to quote the PAN of buyer, provided the said transaction requires deduction of TDS under section 194-IA\u200b or is mentioned in the documents.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Q7_whether_a_resident_required_to_report_the_details_of_sale_of_property_held_outside_India_and_identity_of_buyer_in_Schedule_CG\"><\/span><span style=\"color: #000080;\">Q.7: whether a resident required to report the details of sale of property held outside India, and identity of buyer in Schedule CG?<\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>It is provided that reporting of details of property and name of buyer is mandatory to be mentioned. However, PAN of buyer be mandatorily quoted, where the same is subject to deducted of TDS under section 194-IA\u200b or is mentioned in the documents.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Q8_Whether_details_of_assets_held_as_stock-in-trade_of_business_be_reported_by_an_unlisted_company_along_with_the_details_of_assets_and_liabilities_in_the_Schedule_AL-1_of_ITR-6\"><\/span><span style=\"color: #000080;\">Q.8: Whether details of assets held as stock-in-trade of business, be reported by an unlisted company along with the details of assets and liabilities in the Schedule AL-1 of ITR-6?<\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>In case jewellery\/motor vehicle etc. constitutes the stock-in-trade of business, the drop-down value \u201cstock-in-trade\u201d be selected and reported \u201cpurpose for which used\u201d. However, the aggregate values be provided.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Q9_Where_the_foreign_assets_held_during_the_previous_year_has_been_reported_in_the_Schedule_FA_whether_same_be_reported_again_in_the_Schedule_AL\"><\/span><span style=\"color: #000080;\">Q.9: Where the foreign assets held during the previous year has been reported in the Schedule FA, whether same be reported again in the Schedule AL?<\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Yes.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Q_10_Does_an_unlisted_foreign_company_required_to_furnish_details_of_shareholding_in_the_Schedule_SH-1_of_ITR-6\"><\/span><span style=\"color: #000080;\">Q 10: Does an unlisted foreign company required to furnish details of shareholding in the Schedule SH-1 of ITR-6?<\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Not required.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Q11_Does_an_unlisted_foreign_company_required_to_furnish_details_of_assets_and_liabilities_in_the_Schedule_AL-1_of_ITR-6\"><\/span><span style=\"color: #000080;\">Q.11: Does an unlisted foreign company required to furnish details of assets and liabilities in the Schedule AL-1 of ITR-6?<\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Not required.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Q12_Does_a_farmer_producer_company_defined_under_section_581A_of_Companies_Act_1956_required_to_furnish_details_of_shareholding_in_the_Schedule_SH-1_of_ITR-6\"><\/span><span style=\"color: #000080;\">Q.12: Does a farmer producer company defined under section 581A of Companies Act, 1956, required to furnish details of shareholding in the Schedule SH-1 of ITR-6?<\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>No, however, the applicant shall place a tick for the option \u2018Yes\u2019 against the particular \u201cwhether the company is a producer company as defined in section 581A of Companies Act, 1956?\u201d in Part-A.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Q13_does_a_company_required_to_disclose_break-up_of_only_payments_and_receipts_during_the_year_in_foreign_currency_as_per_Schedule_FD_of_ITR-6\"><\/span><span style=\"color: #000080;\">Q.13: does a company required to disclose break-up of only payments and receipts during the year, in foreign currency, as per Schedule FD of ITR-6?<\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Yes, the taxpayer is required to furnish the break-up of receipts and payments in foreign currency in Schedule FD, only in respect of business operations in India.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Q14_what_is_the_important_of_filing_income_tax_returns\"><\/span><span style=\"color: #000080;\">Q.14: what is the important of filing income tax returns?<\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>The IT department made it mandatory for all the assessee to file their return, provided their income exceeds the basic exemption limit applicable or where they meet with certain criteria in the form of expenditure on foreign travel being more than Rs 2 lakh or electricity consumption of Rs 1 lakh or more, or deposit of an amount\/aggregate of an amount above Rs 1 crore in one or more current accounts and the same be applicable from FY 2019-20 onwards.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-18092\" src=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2019\/07\/BENEFITS-OF-FILING-INCOME-TAX-RETURN.jpg\" alt=\"SOME BENEFITS OF FILING INCOME TAX RETURN\" width=\"832\" height=\"462\" srcset=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2019\/07\/BENEFITS-OF-FILING-INCOME-TAX-RETURN.jpg 720w, https:\/\/carajput.com\/blog\/wp-content\/uploads\/2019\/07\/BENEFITS-OF-FILING-INCOME-TAX-RETURN-300x167.jpg 300w\" sizes=\"(max-width: 832px) 100vw, 832px\" \/><\/p>\n<p>Some other benefits of fling ITR are \u2013<\/p>\n<ul>\n<li>Properly filed ITR acts as a valid proof of income.<\/li>\n<li>It also helps in getting loans from banks and financial institutions.<\/li>\n<li>ITR is mandatory documents for applying for credit cards in banks.<\/li>\n<li>It is also a required document in VISA applications etc.<\/li>\n<\/ul>\n<h3><span class=\"ez-toc-section\" id=\"Q15_what_is_the_procedure_for_filing_ITR_online\"><\/span><span style=\"color: #000080;\">Q.15: what is the procedure for filing ITR online?<\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>The taxpayer is required to pay self-assessment tax before filing of their ITR. In case of salary income, the tax liability is generally deducted from the salary in the form of TDS and the same is paid by the employer to the government.<\/p>\n<p>Where the person is liable to pay advance tax, then an amount equal to 90% of tax liability is required to be paid before the 31<sup>st<\/sup> March of the relevant financial year. Once the tax filing window opens, the taxpayer can login into IT portal and can file their return before the applicable due date. However, the due date is extended, the IT department will notify the same by sending a notification.\\<\/p>\n<p>For filing return the taxpayer is required to log in to the IT portal https:\/\/www.incometaxindiaefiling.gov.in\/home and download the excel or java utilities of the ITR form applicable.<\/p>\n<p>After this, a ZIP file will get downloaded and the person can enter their details in that file. After completing the form, the person is required to validate the form, so that the amount of tax gets calculated. Then, the person shall generate and save the XML utility and the said save file be again uploaded on the IT portal for e-filing. Once the form is successfully uploaded, the person is required to verify the same using the options available on the platform.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Q16_What_is_the_procedure_for_getting_the_copy_of_income_tax_return_filed\"><\/span><span style=\"color: #000080;\">Q.16: What is the procedure for getting the copy of <a href=\"https:\/\/www.caindelhiindia.com\/blog\/file-your-income-tax-return-itr\/\">income tax return<\/a> filed?<\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ul>\n<li>The person is required to log in to\u00a0comusing the credentials provided to them.<\/li>\n<li>Under this, select View Returns\/ Form.s<\/li>\n<li>In that, select the option of \u201cIncome tax returns\u201d and choose the relevant assessment year and click submit.<\/li>\n<li>The portal will redirect to a page, containing the list of ITR filed by the said person.<\/li>\n<li>On this page, select the ITR-V acknowledgement number and download the file.<\/li>\n<li>ITR V PDF file will get downloaded and the same will act as the copy of ITR filed.<\/li>\n<\/ul>\n<h3><span class=\"ez-toc-section\" id=\"Password_Format_for_Deductor_and_Tax_Payer_for_Various_Services_on_TRACES_Portal\"><\/span><span style=\"color: #000080;\"><strong>Password Format for Deductor and Tax Payer for Various Services on TRACES Portal<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-25557\" src=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2022\/09\/passward-.jpg\" alt=\"Password Format for Deductor and Tax Payer for Various Services on TRACES Portal\" width=\"875\" height=\"1231\" srcset=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2022\/09\/passward-.jpg 875w, https:\/\/carajput.com\/blog\/wp-content\/uploads\/2022\/09\/passward--213x300.jpg 213w, https:\/\/carajput.com\/blog\/wp-content\/uploads\/2022\/09\/passward--728x1024.jpg 728w, https:\/\/carajput.com\/blog\/wp-content\/uploads\/2022\/09\/passward--768x1080.jpg 768w, https:\/\/carajput.com\/blog\/wp-content\/uploads\/2022\/09\/passward--800x1125.jpg 800w\" sizes=\"(max-width: 875px) 100vw, 875px\" \/><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Q17_You_have_are_6_way_how_you_can_e-verify_your_Income_tax_return\"><\/span><span style=\"color: #000080;\">Q.17:\u00a0 <strong>You have are 6 way how you can e-verify your Income tax return <\/strong>?<\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>You have 6 way how you can e-verify your Income tax return :<\/strong><\/p>\n<ul>\n<li><strong>EVC generated through e-filing portal:<\/strong><\/li>\n<li><strong>EVC generated through Demat Account:\u00a0<\/strong><\/li>\n<li><strong>Sending signed ITR-V\/Acknowledgement receipt through post: <\/strong>send it to address -CPC, Post Box No \u2013 1, Electronic City Post Office, Bangalore \u2013 560100, Karnataka, India.<\/li>\n<li><strong>EVC generated through ATM:<\/strong><\/li>\n<li><strong>EVC generated through Net Banking:\u00a0<\/strong><\/li>\n<li><strong>Aadhaar based OTP:\u00a0<\/strong><\/li>\n<\/ul>\n<p>It&#8217;s worth mentioning that you don&#8217;t needed to send any supporting documentation with your ITR-V. Once the tax department receives your ITR, you will receive an SMS to your mobile number and an email to your email address. This notification is solely for ITR-V receipt. When your tax return is processed, you will receive a separate intimation.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-24727\" src=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2022\/09\/ITR-last-date.jpg\" alt=\"ITR last date 31.07.2023\" width=\"1080\" height=\"852\" srcset=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2022\/09\/ITR-last-date.jpg 1080w, https:\/\/carajput.com\/blog\/wp-content\/uploads\/2022\/09\/ITR-last-date-300x237.jpg 300w, https:\/\/carajput.com\/blog\/wp-content\/uploads\/2022\/09\/ITR-last-date-1024x808.jpg 1024w, https:\/\/carajput.com\/blog\/wp-content\/uploads\/2022\/09\/ITR-last-date-768x606.jpg 768w, https:\/\/carajput.com\/blog\/wp-content\/uploads\/2022\/09\/ITR-last-date-800x631.jpg 800w\" sizes=\"(max-width: 1080px) 100vw, 1080px\" \/><\/p>\n<p><iframe loading=\"lazy\" title=\"Differences &amp; Uses of ITR-1 &amp; ITR-2 | How to choose ITR Form? |\u091c\u093e\u0928\u093f\u092f\u0947 \u0915\u094c\u0928 \u0938\u093e ITR \u092b\u0949\u0930\u094d\u092e \u0906\u092a\u0915\u0947 \u0932\u093f\u090f \u0938\u0939\u0940?\" width=\"640\" height=\"360\" src=\"https:\/\/www.youtube.com\/embed\/JPf9bPyv7bY?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe><\/p>\n<p>&nbsp;<\/p>\n<p><strong>Popular Article :<\/strong>More read for related blogs are:<\/p>\n<ul>\n<li><strong><a href=\"https:\/\/carajput.com\/publications\/all-the-provision-of-taxation-of-income-from-capital-gains.pdf\">All about the Income taxation on capital gain<\/a><\/strong><\/li>\n<li><strong><a href=\"https:\/\/carajput.com\/archives\/summary-of-provision-of-capital-gains-charts-under-the-income-tax-1961.pdf\">Provision-of-capital-gains-charts<\/a><\/strong><\/li>\n<li><strong><a href=\"https:\/\/carajput.com\/blog\/govt-needed-to-introduce-changes-in-nps-in-budget-2021\/\">Govt\u00a0 needed to introduce\u00a0 changes\u00a0 in NSP Budget 2021<\/a><\/strong><\/li>\n<li><strong><a href=\"https:\/\/carajput.com\/publications\/all-the-provision-of-taxation-of-income-from-capital-gains.pdf\">All about the Income taxation on capital gain\u00a0<\/a><\/strong><\/li>\n<li><strong><a href=\"https:\/\/carajput.com\/learn\/deductions-under-section-80ccd-of-income-tax-act.html\">Deduction u\/s 80CCD of Income Tax Act, 1961<\/a><\/strong><\/li>\n<li><strong><a href=\"https:\/\/carajput.com\/publications\/all-the-provision-of-taxation-of-income-from-capital-gains.pdf\">All about the Income taxation on capital gain\u00a0<\/a><\/strong><\/li>\n<li><strong><a href=\"https:\/\/carajput.com\/blog\/delay-in-the-deposit-of-employer-provident-fund-during-lock-down-will-not-levy-any-penalty\/\">Delay in the deposit of Employer provident fund during the lockdown<\/a><\/strong><\/li>\n<li><strong><a href=\"https:\/\/carajput.com\/blog\/get-aware-for-penalty-of-section-234f-for-late-filing-of-itr\/\">Aware of the penalty of Section-234f for late filing of ITR<\/a><\/strong><\/li>\n<li><strong><span style=\"text-decoration: underline;\"><em><a style=\"color: #0000ff; text-decoration: underline;\" href=\"https:\/\/carajput.com\/blog\/what-is-the-process-of-applying-instant-free-pan-through-aadhaar-e-kyc-fm-launches\/\">What is the process of applying instant free pan through adhaar e-KYC<\/a><\/em><\/span><\/strong><\/li>\n<li><strong><em><a href=\"https:\/\/carajput.com\/blog\/basic-of-aadhar-card-significance-process-aadhaar-linking-with-pan\/\"><span style=\"color: #0000ff;\">Basic of aadhar card significance process aadhaar linking with PAN<\/span><\/a><\/em><\/strong><\/li>\n<li><strong><a href=\"https:\/\/www.caindelhiindia.com\/blog\/3926-2\/\">Tax Audit<\/a><\/strong><\/li>\n<li><strong><a href=\"https:\/\/www.caindelhiindia.com\/blog\/implication-of-cash-transaction-under-income-tax-act\/\">Implication of cash transaction under income tax Act<\/a><\/strong><\/li>\n<li><strong><a href=\"https:\/\/carajput.com\/press-releases\/how-to-file-revised-return-of-income-tax-efiling-income-tax-department.pdf\">How to file Revised Return of Income Tax E-Filing: Income Tax Department <\/a><\/strong><\/li>\n<li><strong><a href=\"https:\/\/carajput.com\/blog\/popular-errors-when-filing-an-income-tax-return\/\">Prevent popular errors while filing an income tax return<\/a><\/strong><\/li>\n<li><strong><a href=\"https:\/\/carajput.com\/learn\/needed-to-file-income-tax-returns-for-your-bitcoin-profits-earn.html\"><span style=\"color: #0000ff;\">Needed to file Income Tax return of Bitcoin profit earned<\/span><\/a><\/strong><\/li>\n<\/ul>\n<p><strong>Contact Us<\/strong><\/p>\n<p>For query or help, <em>You may find us via email at singh@carajput.com or by phone at +91 9555 555 480, <\/em>Get in touch with us today to find out more about the services we offer! Call us at +91-9555 555 480. <em>You can contact our NRI tax consultant in India or <\/em>NRI tax filing services in India,\u00a0 We also offer Taxation compliance &amp; <a href=\"https:\/\/carajput.com\/services\/permanent-account-number-pan.php\">Registration<\/a> services!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>FAQs on Income Tax Return Filling Forms Q.1:\u00a0 Does an individual, being an NRI or resident but not ordinary resident (RNOR)), required to disclose details of their directorship in a foreign company not having any income accruing or arising in India? Ans:\u00a0Yes. Q.2: In case unlisted equity shares is acquired or transferred by way of &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10055],"tags":[10086],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/23198"}],"collection":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/comments?post=23198"}],"version-history":[{"count":5,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/23198\/revisions"}],"predecessor-version":[{"id":26389,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/23198\/revisions\/26389"}],"wp:attachment":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/media?parent=23198"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/categories?post=23198"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/tags?post=23198"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}