Playlist Title - How to generate , fill and send the acknowledgement ( ITR V )for filed income tax return ?
Playlist Link - https://www.youtube.com/playlist?list=PL_16BSQMjAHMB9GumSzhSuig178VAf0SD
Most people nowadays file the income tax return online using either excel/java Utility or the online ITR ....Especially the fact that it is being made compulsory makes it good knowing a few things
Firstly , Depending on person type and income head , the person selects the income tax return
The return selected is for the purpose of declaring the income , the savings so that total income and taxes thereon is arrived at
Again using the TDS and IT schedule , the tax paid declaration in the return needs to be made
Now , after doing all this hard work when the return is uploaded , the acknowledgent( ITR V ) is generated for the filed return
Most of us dont have digital signatures to upload the return digitally
In such a case , the acknowledgement for the filed return needs to be filled and signed and sent to the income tax department
If this step is skipped , the return filed (ITR 1/2/3/4/5/6/7 as the case may be ) will never be assessed and the entire effort of selecting , filling and uploading the return will go in drain
For example ---i being a individual and having income from sdalary and FD interest income select and fill ITR 1 declaring my income , savings etc so that the total income and applicable taxes are computed and then using the return TDS schedule i declare the taxes paid ...subsequently after filling the return , i upload it and get the acknowledgement
If i dont send this acknowledgement to the department , then all my hard work of filling and uploading the return goes waste because my entire return filed under whatever section will never get assessed ---Voila ---that is sad,isn't it
So , please don't forget this very very crictical step of sending the acknowledgement to the income tax department
Also , since the acknowledgement is bar coded , please don't fold the ITR V along the lines of the bar Code
Peace ,
Amlan Dutta
Playlist Link - https://www.youtube.com/playlist?list=PL_16BSQMjAHMB9GumSzhSuig178VAf0SD
Most people nowadays file the income tax return online using either excel/java Utility or the online ITR ....Especially the fact that it is being made compulsory makes it good knowing a few things
Firstly , Depending on person type and income head , the person selects the income tax return
The return selected is for the purpose of declaring the income , the savings so that total income and taxes thereon is arrived at
Again using the TDS and IT schedule , the tax paid declaration in the return needs to be made
Now , after doing all this hard work when the return is uploaded , the acknowledgent( ITR V ) is generated for the filed return
Most of us dont have digital signatures to upload the return digitally
In such a case , the acknowledgement for the filed return needs to be filled and signed and sent to the income tax department
If this step is skipped , the return filed (ITR 1/2/3/4/5/6/7 as the case may be ) will never be assessed and the entire effort of selecting , filling and uploading the return will go in drain
For example ---i being a individual and having income from sdalary and FD interest income select and fill ITR 1 declaring my income , savings etc so that the total income and applicable taxes are computed and then using the return TDS schedule i declare the taxes paid ...subsequently after filling the return , i upload it and get the acknowledgement
If i dont send this acknowledgement to the department , then all my hard work of filling and uploading the return goes waste because my entire return filed under whatever section will never get assessed ---Voila ---that is sad,isn't it
So , please don't forget this very very crictical step of sending the acknowledgement to the income tax department
Also , since the acknowledgement is bar coded , please don't fold the ITR V along the lines of the bar Code
Peace ,
Amlan Dutta
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