Income Tax e-filing: Simple Things to Keep in Mind

The Central Board of Direct Taxes (CBDT) has made e-filing of income tax returns mandatory for all assessees whose annual earnings exceeded Rs 5 lakh.

However, one needs to be careful while e-filing and few rules to be followed to ensure trouble-free processing.

Nearly 10% of assessees have failed to send the ITR V to CPC after E-filing.

It is mandatory that all tax payers must have a valid contact details registered in the e-Filing portal.

Make sure that your details are filled correctly such as email address, mobile no correctly to ensure appropriate communication from the Income Tax Department.

The assessee should make sure the correct (latest) address, bank account, MICR no. is filled.

The assessee should verify tax credits available in Form 26AS/NSDL websites. Mismatches are the single largest cause of incorrect tax computation. Non credits may be taken up with the TDS deductor and/or the banker as soon as they are noticed

Personal details filled should be appropriate and should match the data.

• Name: Has to match the PAN database 
• Date of Birth: Mistakes here will result in computation of higher taxes in case of senior citizens 
• Address: House/Flat no, City, PIN Code, are mandatory fields. Non filling will result in refund delays 
• E mail Address: Needs to be filled correctly, is the basis of all communication from CPC. The mistake will result in non-receipt of all intimations from CPC. Use of Auditor/Tax practitioner's ID may be avoided 
• Mobile No: Full Mobile No without the use of +91 needs to be entered. This is essential for all SMS based communication 
• Sex: Should match the PAN database. If PAN database is wrong, it results in mistakes in computation 
• Status: Should be correctly filled 
• Residential Status - the status of NOR and NRI should be mentioned only where applicable as they are not eligible for certain benefits available to resident assessee.

In electronic filing it has been noticed that most of the errors are due to data errors as filed by the assessee .

This includes non-filling of key schedules, wrong details etc resulting in rectification requests etc which delay closure of processing.

One needs to follow simple steps so that they directly receive communication from the Department about status of processing and issue of refunds etc.