Sunday, May 26, 2013

File your TAX Return online

For online filing of  e-tax return.get resister with your valid PAN card on https://incometaxindiaefiling.gov.in/
After registration follow these steps:



Step 1: On homepage of  https://incometaxindiaefiling.gov.in/ GO TO 'Downloads' section and select applicable Income Tax Return Form of the relevant Assessment Year OR Login to e-Filing application and GO TO 'Downloads'.'Income Tax Return Forms' and select applicable Income Tax Return Form of the relevant Assessment Year.

Step 2: Download the excel utility of the Income Tax Return (ITR).

Step 3: Fill the excel utility and Validate. (You can pre-fill the Personal and Tax Information in your Income Tax Return. To pre-fill, Login to e-Filing application and GO TO  Download Pre-filled XML to the desired path/destination in your desktop/system. Open the Excel utility (ITR) and click the "Pre-fill" button. This will require you to select the path/destination where you have saved the XML and click OK. The details will be uploaded into your utility. You may edit the tax details, if needed).

Step 4: Generate an XML file and save in desired path/destination in your desktop/system.

Step 5: LOGIN to e-Filing application and GO TO  e-File and Upload Return
Step 6: Select the Income Tax Return Form and the Assessment Year.

Step 7: Browse and Select the XML file
Step 8: Upload Digital Signature Certificate, if available and applicable.
Step 9: Click 'SUBMIT'
Step 10: On successful upload, Acknowledgement details would be displayed. Click on the link to view or generate a printout of Acknowledgement/ITR-V and send it to CPC, Post Bag No. 1, Electronic City Post Office, Bangalore - 560100 by Ordinary Post or Speed Post (without Acknowledgment) ONLY, within 120 days from the date of e-Filing.



Yet there is another option for taxpayer has the option of submitting ITR 1 by way of Uploading XML OR by Online submission

Step 1: Login to e-Filing application
Step 2: GO TO 'e-File'  'Prepare and Submit Online'
Step 3: Select the Income Tax Return Form ITR 1 and the Assessment Year.
Step 4: Fill in the details and click the SUBMIT button
Step 5: On successful submission, Acknowledgement detail is displayed. Click on the link to view or generate a printout of Acknowledgement/ITR-V Form.

If the return is not e-Filed with a DSC (digitally signed), an ITR-V Form will be generated. This is an Acknowledgement cum Verification form. A duly verified ITR-V form should be signed and submitted to CPC, Post Bag No. 1, Electronic City Post Office, Bangalore - 560100 by Ordinary Post or Speed Post (without Acknowledgment) ONLY, within 120 days from the date of e-Filing.
On receipt of the ITR-V at CPC, the return will be further processed and the Assessee will be notified accordingly by email or SMS


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Wednesday, May 22, 2013

No More Queue for TAX payment: PAY TAX by ATM :Union Bank of bank

Government has made tax payment a convenient way to pay your income taxes using  nearest ATM. You don't need to fill lengthy forms or stand in queues. It will be available 24x7 and is also saves paper. Currently the scheme has been launched to Union Bank of India customers but it will be extended to other banks soon.


How does it work?
 1) For a Union bank  debit card holder, you will register at the bank's website
2)This site is in turn linked to the National Securities Depositories Ltd which will help validate the permanent account number (PAN) of individuals and the Tax Deduction Account Number (TAN) provided to taxpayers.
3)On successful registration you can go to the ATM (currently Union Bank ATM only) and access Income Tax menu
4) It will display his PAN number and ask for the tax amount that is to be paid along with item-wise details of any other amount the assessee may want to include in the tax payment.
5)Select the relevant challan no. and amount of tax, interest amount (if any)
6)On confirmation, the tax amount will be debited from the customer's account and the ATM will generate a receipt with a special number. After 24 hours, customers can log on to the bank's website, submit the special number and print a challan.

Individuals can make payments related to income tax, advance tax, self-assessment tax. If all your taxes are being paid through TDS and you don’t have anymore to pay then you need not worry it. A lot of people have to pay self assessment and advance tax by the end of every quarter. Presently they go to banks before the deadline, stand in queue, fill up relevant form and pay up the taxes.
 More banks are expected to follow this method soon.

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Friday, May 17, 2013

Send and Receive money using GMAIL : Google Wallet


Till now E-mail attachment were used to send photos, videos and files but now you can  send money Google launched its e-mail service Gmail has plans to launch such a service. It is now being introduced in the U.S. When will it happen in India, will just have to wait for it. Earlier this service was mainly used on mobile device but now they have come to desktop version

Google has named this as  Google Wallet. This will act as your  vallet  which be will link with the user's bank account. If desired, users can link your account with a debit or credit card, but in that case 2.9 per cent on every transaction fee will be charged. The U.S. roll out this service for users above 18 years of age and have it be able to use it. If you want to receive the money in your account to activate this feature. However, before such a service had started some websites, but they did not become Popular. When will it happen in India, is not known yet. Meet it by RBI norms.

How to send money
For this, a user should have a e-mail account with Google . Click on on Compose button in your inbox
Currently this feature is only available on New version of composing email of gmail Here you will find dollar sign. Click on the account or card to determine the amount you can send and thall all your money will be get transferred. Refer the Video for more detail

What is Google Wallet
The feature is in your Google Wallet account. India currently visiting, you can put your credit card or debit card details. Before buying any products from the App Store or Google may pay.

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