IT RETURN FORMS FOR ASSESSMENT YEAR 2008-09 NOTIFIED<\/p>\n
The Forms for Return of Income are assessment year specific. Central Board of Direct Taxes have prepared and notified following eight Return Forms for assessment year 2008-09. The changes made by the Finance Act 2007 have been incorporated.<\/p>\n","protected":false},"excerpt":{"rendered":"
(i) ITR-1 – For Individuals having salary and interest income and no other income.<\/p>\n
(ii) ITR-2 – For Individuals and HUFs, having income from any source except from business or profession.<\/p>\n
(iii) ITR-3 – For Individuals and HUFs being partners in firms and not having proprietory business or profession.<\/p>\n
(iv) ITR-4 – For Individuals and HUFs having proprietory business or profession.<\/p>\n
(v) ITR-5 – Combined Form For return of income and fringe benefits for Firms\/AOP\/BOI.<\/p>\n
(vi) ITR-6 – Combined Form for return of income and fringe benefits for Companies.<\/p>\n
(vii) ITR-7 – Combined Form for return of income and fringe benefits for Charitable \/ religious trusts, political parties and other non- profit organizations.<\/p>\n
(viii) ITR-8 – Stand alone form for return of fringe benefits for persons who are not liable to file return of income but are liable to file return of fringe benefits<\/p>\n
The return of income has to be filed by using the applicable form without any annexure (except for Form ITR-7) so as to facilitate electronic filing. <\/p>\n
E-filing initiative of the Department has been received well and for Assessment Year 2007-08 over 20 lakh E- Returns have been filed, out of which more than 64% E-<\/p>\n
Returns have been filed voluntarily by the tax payers. In terms of the taxes paid, these returns account for over 65% of total taxes collected. <\/p>\n
Electronic filing of returns for assessment year 2008-09 is compulsory for corporate tax-payers and for firms liable to tax audit u\/s 44AB. These tax-payers may either file their return electronically under digital signature or may transmit the data of the return electronically and thereafter submit a one page verification Form which contains a summary of the return transmitted electronically. <\/p>\n
All other categories of taxpayers (other than charitable trusts, institutions, etc.) will have the option to file the return in a paper form or electronically, as mentioned above, or in a bar-coded return form. <\/p>\n
The new forms will be available on the Income Tax Department\u2019s website http:\/\/www.incometaxindiaefiling.gov.in .The Government would urge taxpayers to use the e-filing option, since it will help the Department to serve them better.<\/p>\n
SK\/LK\/30.3.08<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[5],"tags":[],"class_list":["post-251","post","type-post","status-publish","format-standard","hentry","category-business"],"_links":{"self":[{"href":"https:\/\/citynews.co.in\/index.php?rest_route=\/wp\/v2\/posts\/251","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/citynews.co.in\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/citynews.co.in\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/citynews.co.in\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/citynews.co.in\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=251"}],"version-history":[{"count":0,"href":"https:\/\/citynews.co.in\/index.php?rest_route=\/wp\/v2\/posts\/251\/revisions"}],"wp:attachment":[{"href":"https:\/\/citynews.co.in\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=251"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/citynews.co.in\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=251"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/citynews.co.in\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=251"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}