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TMI BlogNew Return Forms for Assessment Year 2009-10 - matters connected thereto - regarding.X X X X Extracts X X X X X X X X Extracts X X X X ..... out business or profession under any proprietorship; (iv) ITR-4 return of income for individual and HUFs having proprietory business or profession; (v) ITR-5 combined form for return of income and fringe benefits for Firms/ Association of Persons / Body of Individuals; (vi) ITR-6 combined form for return of income and fringe benefits for companies (other than companies claiming exemption under section 11; (vii) ITR-7 combined form for return of income and fringe benefits for persons including companies required to furnish return under section 139(4A) or section 139(4B) or section 139(4C) or section 139(4D); (viii) ITR-8 stand alone form for return of fringe benefits for persons who are not required to furnish return of income but are required to furnish return of fringe benefits. The above return forms are available at http//www.incometaxindia.gov.in. 2. Rule 12 of the Income Tax Rules, 1962 (hereinafter referred to as ' the said rule' ) provides for the form and the manner in which the income tax return is required to be furnished. 3. Sub-rule (3) of the said rule provides that return of income/ fringe benefits can be furnished in any of the fol ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... wing clarifications are also issued in respect of certain issues arising from furnishing the returns in the above mentioned forms: (i) An assessee should obtain the report of audit from an accountant under section 44AB of the Act on or before the due date of the furnishing of the return and should fill out the relevant columns of the return forms on the basis of such report. However, the report of audit should not be attached with the return or furnished separately any time before or after the due date. The assessee should retain the report with himself. If called for by any income-tax authority during any proceeding under the Act, it shall be incumbent upon the assessee to furnish/produce the same in original. No penalty under section 271B shall be initiated or levied for not furnishing the tax audit report on or before the due date. However, if the audit report has not been obtained before the due date, provisions of section 271B shall continue to be attracted. (ii) These returns are not to be accompanied with any other document including any statutory form or report of audit (other than the report under section 92E ), which is otherwise required to be furnished before ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the date of transmitting the data electronically. In case, Form ITR-V, is furnished after the above mentioned period, it will be deemed that the return in respect of which the Form ITR-V has been filed was never furnished and it shall be incumbent on the assessee to electronically re-transmit the data and follow it up by submitting the new Form ITR-V within thirty days. 10. Since the Form ITR-V is bar-coded, assessee is advised not to fold the same and post it in A4 size envelope. The assessee shall furnish the Form ITR-V to the Income-tax Department by mailing it to "Income Tax Department - CPC , Post Box No - 1, Electronic City Post Office, Bangalore - 560100, Karnataka" within thirty days after the date of transmitting the data electronically. The Post Box shall deliver all the Form ITR-V to the Centralized Processing Centre (CPC) of the Income-tax Department in Bangalore. Upon receipt of the Form ITR-V, the CPC shall send an e-mail acknowledging the receipt of Form ITR-V. The e-mail shall be sent in due course to the e-mail address furnished by the tax-payers in his return. No Form ITR-V shall be received in any other office of the Income-tax Department or in any oth ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... pository Limited (NSDL) shall assign an UTN for every TDS and TCS transaction record in Financial Year 2007-08 and 2008-09 reported in the quarterly returns received by it. (b) NSDL will create a facility to e-mail the UTN file to the deductor if the e-mail address of the deductor is available with them. In addition, they will also create a facility for the deductor to download the UTN file. (c) Upon receipt of the UTN, the deductor will inform the UTN to the deductee. In cases where the UTNs are available to the deductor before the issue of the TDS/TCS certificate to the deductee, the deductor will indicate the UTNs on the certificate. However, if the UTNs are not available to the deductor before the issue of TDS/TCS certificate, the deductor shall, subsequently, send a consolidated statement of all TDS/TCS transactions indicating the UTNs. (d) NSDL will also create a facility to allow independent viewing of the UTNs by the deductee. As a result, even if the UTNs are not received by the deductee from the deductor, they can be directly obtained from the NSDL database and quoted while making claims of TDS and TCS in the return of income. 14. In the past, instances have come ..... X X X X Extracts X X X X X X X X Extracts X X X X
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