Process of Income Tax Reurn (ITR)

 Process To File E-TDS Return 

First To Collect the All the Document to file. Main Detail is As follow

}1.  Copy of Pan Card

}2.  TDS Certfiate recived from Deductee

}3.  Annual Income Detail and there Source

}4.  Computation of Annual Income

     5.  Bank A/c No , Bank MICR Code
 

Registration of Pan Card in Income Tax Website.

}Registration your Pan No in Income Tax Website : https://incometaxindiaefiling.gov.in/portal/register.do?screen=registerPage1

}Enter Your Pan No.

}Message show if Wrong Pan No Enter or Pan no all ready Registered.

}Fill your Personal Detail Name , Father Name , Date of Birth, Security Question or Enter Phone No and Email ID, for registration Verfify Link send your ID

Download Template from Income Tax Website as per your requirement

 

}1.Fill the ITR Excel sheet as per your information enable the macros. Enter bank account No, MICR Code, your all Deduction and income Detail and TDS Detail given by deductee.and Generate the XML File.

}Login the Income Tax wesite enter your user Id and Password,

Check you 26 AS in Account Detail.

Enter You Date of Birth and Image Mention and Confrom View 26 AS

}Check and Reconsilation of Your TDS Detail and 26 As

}Return income Tax Efiling Website enter Submit Buttion Select the Assessment Year

}Select the File and Upload it.

}Message show the successfully return and recepit send your ID. It is password procted and password is your Pan No and Date of Birth Like Your Pan No is BBBPD7581k and Date of Birth 02/08/1980 password is bbbpd7581k02081980

Take Print Out and Send it to Income Tax Department – CPC, Post Bag No - 1, Electronic City Post Office, Bengaluru - 560100, Karnataka, ” BY ORDINARY POST OR SPEED POST ONLY   within 120 days of transmitting the data electronically.

Download PPT Click Below Link  

https://docs.google.com/open?id=0B-3nCySoSp-ASk40Zk01aDE3SG8

For Filing *Free Income Tax Return* Contact : 9996480619  

New Provission of Service Tax under Notification No.15/2012-Service Tax,

[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB-SECTION (i)]

Government of India

Ministry of Finance

(Department of Revenue)

New Delhi, the 17th March 2012

Notification No.15/2012-Service Tax

            GSR. (E).—In exercise of the powers conferred by sub-section (2) of section 68 of the Finance Act, 1994 (32 of 1994), and in supersession of the notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 36/2004-Service Tax, dated the  31st  December, 2004, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R 849 (E), dated the 31st December, 2004, except as respects things done or omitted to be done before such supersession, the Central Government hereby notifies the following taxable services and the extent of service tax payable thereon by the person liable to pay service tax for the purposes of the said sub-section, namely:—

I.    The taxable services,—

(A) (i)   provided or agreed to be provided  by an insurance agent to any person carrying on the insurance business;

(ii)   provided or agreed to be provided  by a goods transport agency in respect of  transportation  of goods by road, where the consignor or the consignee  is,—

(a)  any factory registered under or governed by the Factories Act, 1948 (63 of 1948);

(b)  any society registered under the Societies Registration Act, 1860 (21 of 1860) or under any other law for the time being in force in any part of India;

(c)  any co-operative society established by or under any law;

(d)  any dealer of excisable goods, who is registered under the Central Excise Act, 1944 (1 of 1944) or the rules made thereunder;

(e)  any body corporate established, by or under any law; or

(f)  any partnership firm whether registered or not under any law including association of persons;

(iii) provided or agreed to be provided by way of sponsorship,  to anybody corporate or partnership firm located in the taxable territory;

(iv) provided or agreed to be provided by an arbitral tribunal or an individual advocate or the support service provided or agreed to be provided by Government or local authority, to any business entity located in the taxable territory;

  (v) provided or agreed to be provided by way of renting or hiring any motor vehicle designed to carry passenger or supply of manpower for any purpose or  works contract by any individual, Hindu Undivided Family or  proprietary firm or  partnership firm, whether registered or not, including association of persons;  located in the taxable territory to any company formed or registered under the Companies Act, 1956 (1 of  1956) or a business entity registered as body corporate located in the taxable territory;

(B) in relation to any taxable service provided or agreed to be provided by any person who is located in a non-taxable territory and received by any person located in the taxable territory;

(II) the extent of service tax payable by the person who receives the service and the person who provides the service for the taxable services specified in (I) shall be as specified in the following Table, namely:-

Table

Sl.No.	Description of a service	Percentage of  service tax payable by the person providing service	Percentage of service tax payable by the person receiving the service
01	In respect of  services  provided or agreed to be provided  by an insurance agent to any person carrying on insurance business	Nil	100%
02	In respect of  services  provided or agreed to be provided  by a goods transport agency in respect of  transportation  of goods by road	Nil	100%
03	In respect of  services  provided or agreed to be provided  by way of sponsorship	Nil	100%
04	In respect of  services  provided or agreed to be provided  by an arbitral tribunal	Nil	100%
05	In respect of  services  provided or agreed to be provided  by individual advocate	Nil	100%
06	in respect of  services  provided or agreed to be provided  by way of support service by Government or local authority	Nil	100%
07	(a)   in respect of  services  provided or agreed to be provided  by way of renting or hiring any motor vehicle designed to carry passenger on abated value. (b)   in respect of  services  provided or agreed to be provided  by way of renting or hiring any motor vehicle designed to carry passenger on non abated value.	Nil 60%	100 % 40%
08.	in respect of  services  provided or agreed to be provided  by way of supply of manpower for any purpose	25%	75 %
09.	in respect of  services  provided or agreed to be provided  by way of works contract	50%	50%
10	in respect of  any taxable services  provided or agreed to be provided  by any person who is located in a non-taxable territory and received by any person located in the taxable territory	Nil	100%

2. Person who pays or is liable to pay freight either himself or through his agent for the transportation of goods by road in goods carriage, located in the taxable territory shall be treated as the person who receives the service for the purpose of this notification.

3. This notification shall come into force from the date on which section 66B of the Finance Act, 1994 comes into effect.

 [F.No. 334/1/2012- TRU]

(Samar Nanda)

Under Secretary to the Government of India

[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB-SECTION (i)]

Government of India

Ministry of Finance

(Department of Revenue)

New Delhi, the 17th March 2012

Notification No.15/2012-Service Tax

            GSR. (E).—In exercise of the powers conferred by sub-section (2) of section 68 of the Finance Act, 1994 (32 of 1994), and in supersession of the notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 36/2004-Service Tax, dated the  31st  December, 2004, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R 849 (E), dated the 31st December, 2004, except as respects things done or omitted to be done before such supersession, the Central Government hereby notifies the following taxable services and the extent of service tax payable thereon by the person liable to pay service tax for the purposes of the said sub-section, namely:—

I.    The taxable services,—

(A) (i)   provided or agreed to be provided  by an insurance agent to any person carrying on the insurance business;

(ii)   provided or agreed to be provided  by a goods transport agency in respect of  transportation  of goods by road, where the consignor or the consignee  is,—

(a)  any factory registered under or governed by the Factories Act, 1948 (63 of 1948);

(b)  any society registered under the Societies Registration Act, 1860 (21 of 1860) or under any other law for the time being in force in any part of India;

(c)  any co-operative society established by or under any law;

(d)  any dealer of excisable goods, who is registered under the Central Excise Act, 1944 (1 of 1944) or the rules made thereunder;

(e)  any body corporate established, by or under any law; or

(f)  any partnership firm whether registered or not under any law including association of persons;

(iii) provided or agreed to be provided by way of sponsorship,  to anybody corporate or partnership firm located in the taxable territory;

(iv) provided or agreed to be provided by an arbitral tribunal or an individual advocate or the support service provided or agreed to be provided by Government or local authority, to any business entity located in the taxable territory;

  (v) provided or agreed to be provided by way of renting or hiring any motor vehicle designed to carry passenger or supply of manpower for any purpose or  works contract by any individual, Hindu Undivided Family or  proprietary firm or  partnership firm, whether registered or not, including association of persons;  located in the taxable territory to any company formed or registered under the Companies Act, 1956 (1 of  1956) or a business entity registered as body corporate located in the taxable territory;

(B) in relation to any taxable service provided or agreed to be provided by any person who is located in a non-taxable territory and received by any person located in the taxable territory;

(II) the extent of service tax payable by the person who receives the service and the person who provides the service for the taxable services specified in (I) shall be as specified in the following Table, namely:-

Table

Sl.No.	Description of a service	Percentage of  service tax payable by the person providing service	Percentage of service tax payable by the person receiving the service
01	In respect of  services  provided or agreed to be provided  by an insurance agent to any person carrying on insurance business	Nil	100%
02	In respect of  services  provided or agreed to be provided  by a goods transport agency in respect of  transportation  of goods by road	Nil	100%
03	In respect of  services  provided or agreed to be provided  by way of sponsorship	Nil	100%
04	In respect of  services  provided or agreed to be provided  by an arbitral tribunal	Nil	100%
05	In respect of  services  provided or agreed to be provided  by individual advocate	Nil	100%
06	in respect of  services  provided or agreed to be provided  by way of support service by Government or local authority	Nil	100%
07	(a)   in respect of  services  provided or agreed to be provided  by way of renting or hiring any motor vehicle designed to carry passenger on abated value. (b)   in respect of  services  provided or agreed to be provided  by way of renting or hiring any motor vehicle designed to carry passenger on non abated value.	Nil 60%	100 % 40%
08.	in respect of  services  provided or agreed to be provided  by way of supply of manpower for any purpose	25%	75 %
09.	in respect of  services  provided or agreed to be provided  by way of works contract	50%	50%
10	in respect of  any taxable services  provided or agreed to be provided  by any person who is located in a non-taxable territory and received by any person located in the taxable territory	Nil	100%

2. Person who pays or is liable to pay freight either himself or through his agent for the transportation of goods by road in goods carriage, located in the taxable territory shall be treated as the person who receives the service for the purpose of this notification.

3. This notification shall come into force from the date on which section 66B of the Finance Act, 1994 comes into effect.

 [F.No. 334/1/2012- TRU]

(Samar Nanda)

Under Secretary to the Government of India

Leave Travel Concession/Assitance LTA/LTC u/s 10(5) exemption

Leave Travel Concession/Assitance LTA/LTC u/s 10(5) exemption

Leave Travel Concession (LTC)/Leave Travel assistance (LTA) received from employer to proceed on leave to any place on India for himself and his family is exempted.

1.    LTC/LTA received from employer or former employer received in connection with proceeding to any place in India after retirement/termination for himself and his family is also exempted

2.    The exemption is allowed only if actual expenses has been incurred.

Family Meaning :

1.    The spouse and children of Individual.

2.    Parents,Brothers,sister of individual who are wholly or mainly dependent on Him.

Two Journey in a Block of Four Years is exempted:Exemption is allowed on two journey in block of four years.present block is running from 2006-09 .The block of four year is taken on the basis of Calender year.

Carry forward of LTC In next block:if assessee has not availed LTC exemption in Last block of four years (single or both) than he can carry forward single(one)  exemption in first year of next four year block and can perform journey in first year of the next four year block.(single journey of the old block period can be carry forward and exemption can be availed in first year of next block of four year) .It is also clarified here that two journey actually belongs to next /new block of four years have no impact of carry forward of the old Journey performed in new block period of four years.


Amount Exempted.

A) Journey performed by Air

amount exempted:Economy Air fair of National carrier by the shortest route or the amount spent which ever is less.

B) Journey performed by Rail

Amount exempted: A.C. first class rail fare by shortest route.or amount spent which ever is less.

C) Place of origin and destination place of journey connected by rail but journey performed by other mode of transport.

Amount exempted :A.C. first class rail fare by shortest route.or amount spent which ever is less.

D) Place of origin& destination not connected by rail(partly/fully) but connected by other recognised Public transport system.

Amount exempted:First class or deluxe class fare by shortest route or amount spent which ever is less.

E) Place of origin& destination not connected by rail(partly/fully) and not connected by other recognised Public transport system also.

Amount exempted:AC first class rail fare by shortest route (as the journey had been performerd by rail) or the amount actually spent ,which ever is less.

Exemption On actual Expenses Only:The amount of exemption is Limited to actual expenses only .Means allowed only if actual journey is performed.

Exemption Of Fare Only:Exemption is allowed only for fare Only as explained above .Other expenses like Local conveyance charge ,taxi charges,lodging ,boarding charges is not exempted.

Exemption is allowed only for Two children if born after October 1,1998: This restriction does not apply to multiple birth after birth of first child and birth before October 1,1998.

On the basic of above answer to your quires is that a employee can perform jouncy in first year of employment as far as Income Tax act is concerned ,no bar on it .Moreover if he satisfy above condition of block period than he can claim exemption on amount actual spent and allowed as stated above which ever is less.

Secondly as DDO(drawing and disbursing Officer) /employer we should collect enough evidence /reasonable evidence to establish that the journey has actually been performed and amount offered for exemption has actually been spent by the employee.Mere certificate ,received from the employee that he has spent so much amount on LTC is not enough to allow exemption u/s 10(5) while calculating salary income for TDS(tax deducted at source) u/s 192.So we should collect Ticket photocopy where ever practicable or Ticket Number or agent bill etc as a proof that journey has actually performed to avoid complication at later stage.

Participate In Discussion

Three-month validity of cheques, drafts from April 1

NEW DELHI: The life of your cheques and bank drafts has just been halved to three months. 

In a notification issued on Friday evening the Reserve Bank of India said that from April 1, 2012, banks, drafts, pay orders and bankers' cheques will have to be presented within three months of the date of issue of these instruments. So, the next time you issue a cheque or get a draft prepared, make sure it is presented quickly. 

The change has been prompted by instances of misuse of the payment instruments. "It has been brought to the notice of Reserve Bank by Government of India that some persons are taking undue advantage of the said practice of banks of making payment of cheques/drafts/pay orders/banker's cheques presented within a period of six months from the date of the instrument as these instruments are being circulated in the market like cash for six months," the notification said. 

Kamal Sharma

Ph.No - 9996480619

The Hindu : Today's Paper News : Increase in DA for government staff

The Hindu : Today's Paper News : Increase in DA for government staff

Penalty for failure of pay the tax deducted at source

276B. 4[ Failure to pay the tax deducted at source' If a person fails to pay to the credit of the Central Government, the tax deducted at source by him as required by or under the provisions of Chapter XVIIB, he shall be punishable with rigorous imprisonment for a term which shall not be less than three months but which may extend to seven years and with fine.


276BB. 1[ Failure to pay the tax collected at source If a person fails to pay to the credit of the Central Government, the tax collected by him as required under the provisions of section 206C, he shall be punishable with rigorous imprisonment for a term which shall not be less than three months but which may extend to seven years and with fine.]