Applicability of ITR forms for AY 2018-19

 Applicability of ITR forms for AY 2018-19  Uncategorized
Jul 262018
 

Applicability of ITR forms for AY 2018-19

With the 31st July, 2018 is approaching nearby you are rushing behind your consultant for completing self-assessment process and filling your ITR. As you are aware that forms you submit to the department plays an important role in the assessment procedure and correct filing of forms saves you from needless penalties action. Under section 139(4) a return filed in wrong ITR can be treated as defective and you would returned to the consequences as if you have not filed the return. Hence, here we are trying to explain applicability of ITR in very simple manner.

Applicability of income tax return (ITRs’) forms based on nature of income:

  ITR 1        
NATURE OF INCOME (only ITR 2 ITR-3 ITR-4  
Resident  
  IND)        
Income from salary/pension (for ordinarily resident person) YES YES YES YES  
Income from salary/pension (for RNOR & NR person) – YES YES YES  
Income or loss from one house property (excluding brought forward & carried forward losses) YES YES YES YES  
Income or loss from more than one house Property – YES YES –  
Agricultural income exceeding Rs. 5,000 – YES YES –  
Total income exceeding Rs. 50 lakhs – YES YES YES  
Income from other sources (other than winnings from lottery and race horses or losses under this head) YES YES YES YES  
Income from other sources (including winnings from lottery and race horses or losses under this head) – YES YES –  
Capital gains/loss on sale of Capital assets – YES YES –  
Interest, salary, share of profit, etc. received by a partner from a partnership firm. – – YES –  
Income from business or profession (Non Speculative) – – YES –  
Income from presumptive business – – YES YES  
Income from Speculative Business and other special incomes – – YES –  
Income from an agency business or  income in the nature of commission or brokerage – – YES –  
Income from foreign sources/assets/any account outside India – YES YES    
Claim of relief of tax under sections 90, 90A or 91 – YES YES    
Dividend income exceeding Rs. 10 lakhs taxable under Section 115BBDA – YES YES    
Voluntary offer of income under Sections 68, 69, 69A, etc. [taxable at 60% u/s 115BBE) – YES YES    
Income to be apportioned under Section 5A (Relating to clubbing of Income for Portuguese Citizens) – YES YES YES  
Adjustments of Brought Forward Losses of earlier years – YES YES    

 

Change of Email ID and mobile nos in GSTN

 Change of Email ID and mobile nos in GSTN  GST
Jul 262018
 

Change of Email ID and mobile nos in GSTN

Significance of E-mail ID and phone number in GSTN:

E-mail ID and mobile nos. are media to communicate with GSTN instantly for different purposes. These are required for the following purposes:

  1. At the time of registration to generate TRN and GST user ID and first time login password
  2. At the time of filling GST return
  3. At the time submitting query, complaints etc
  4. At the time of cancellation
  5. To receive orders etc

Thus, e-mail ID and mobile number is required at every time while doing work with GSTN.

Change of email and mobile number of the authorized signatory by taxpayers with assistance from the jurisdictional tax officer:

Complaints are being received from taxpayers that the intermediaries who were authorized by them to apply for registration on their behalf had used their own email and mobile number during the process. They are now not sharing the user credentials with the taxpayer on whose behalf they had done the registration in the first place and the taxpayer is at their mercy.

With a view to address this difficulty of the taxpayer, a functionality to update email and mobile number of the authorized signatory is available in the GST System.

The email and mobile number can be updated by the concerned Jurisdictional tax authority of the taxpayer as per the following procedure:

  1. Taxpayer is required to approach the concerned jurisdictional Tax Officer to get the password for the GSTIN allotted to the business.
  2. Taxpayer would be required to provide valid documents to the tax officer as proof of his/her identity and to validate the business details related to his GSTIN.
  3. Tax officer will check if the said person is added as a Stakeholder or Authorized Signatory for that GSTIN in the system.
  4. Tax officer will upload necessary proof on the GST Portal in support to authenticate the activity.
  5. Tax officer will enter the new email address and mobile phone number provided by the Taxpayer.
  6. After upload of document, Tax officer will reset the password for the GSTIN in the system.
  7. Username and Temporary password reset will be communicated to the email address as entered by the Tax Officer.
  8. Taxpayer need to login on GST Portal https://www.gst.gov.in/ using the First time login link.
  9. After first time login with the Username and Temporary password that was emailed to him, system would prompt the taxpayer to change username and password. The said username and password can now be used by the taxpayer.