Income Tax Challan for IDS: Income Declaration Scheme Challan No ITNS 286

Download the Income Tax Challan for IDS, Tax Payer i.e. Declarant can deposit Income Tax liability under Income Tax Declaration Scheme using Income Tax Form ITNS 286

Total Tax Liability under IDS is 45% of Income Declare under IDS (30% Tax + 15% Penalty) Those who have declare Income under IDS have to deposit tax and penalty in following ratio or Schedule for Payment of Tax & Penalty under IDS

  1. 25% of Tax, Surcharge & Penalty by 30th November 2016
  2. 25% of Tax, Surcharge & Penalty by 31st March 2017
  3. Remaining 50% of Tax, Surcharge & Penalty by 30th September 2017

For IDS separate challan has to be used in ITNS FORM 286 Download the Income Tax

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Form 286

 

How to Pay or Deposit Outstanding Income Tax Demand Online or Offline through Challan 280

Income Tax Demand or Refund is issued once your assessment for that year is completed and Income tax officer i.e. Assessing Officer issues Income Tax Assessment order under section 143 (Summary assessment and Scrutiny assessment), Section 144 (Best judgment assessment), Section 147(Income escaping assessment). But Once Assessment is completed there can three outcome

1. No Demand or Refund for that Assessment Year

2. Refund Issued for that Assessment Year

3.  Demand Payable

So Assessee has two option or alternate in relation to that assessment year he accepts it or rejects is in case no acceptable then he can file Appeal Against that Assessment year with Income Tax Appeal with 30 days of receipt of Income tax Assessment order. In case accepts that Assessment order he has the option to pay outstanding  Income Tax Demand either online or offline through challan no 280. Basic Information required for Depositing Income Tax Demand or Normal Income Tax is PAN Number and Year for which you want to deposit income tax.

Process for Deposit Online Outstanding Income Tax Demand (Click on Link for Payment of Income Tax ) or Download the Challan No 280

Opening Page for tax Information System

Select Challan No 280 :Payment of Income Tax & Corporation Tax 

Challan No 280 Online Payment Screen

Tax Applicable: select code 21 for any Person other than Companies

PAN Number: 

Assessment for Year: Year for which Demand is Outstanding (Note Asst Year for Financial Year 2011-12 will be 2012-13, 2012-13 will be 2013-14, 2013-14 will be 2014-15 and So on)

Name of Person: As Given on PAN Card (it will be displayed once you fill all details and click on proceed link given at the end of form 280)

Address of the Assessee

Mobile No and Email id

Type Of Payment: Select 400(TAX ON REGULAR ASSESSMENT) for Income Tax Demand Deposit and 300 (SELF ASSESSMENT TAX) for Deposit of Tax Before filing Income tax return after year ending and 100 (ADVANCE TAX) for deposit of Income Tax Before year ending for FY 2015-16 (Assessment Year 2016-17) upto 31st March 2016.

Select Bank: Bank for which Net Banking Facility is activated

Once Proceed is Selected Confirmation Screen will be opened

CONFIRMATION PAGE FOR TAX PAYMENT

If All the Details Correct Select Submit to Bank Option.

In Case if Assessee wants to Deposit Income Tax Offline then he can download Challan No 280 and Fill the Above details

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Extension of Due Date of Returns of Income and Audit reports u/s 44AB to 31st Oct 2015

Central Board of Direct Taxes (Income Tax Dept) has extended the due date of Filing Income Tax Return and Audit Report from 30th Sept 2015 to 31st Oct 2015.

F.No.22S/207 /201S/1T A.II

Government of India

Ministry of Finance

Department of Revenue

Central Board of Direct Taxes

North Block, ITA.rr Division

New Delhi dated the 1 st of October, 2015

Order under Section 119 of the Income-tax Act, 1961 In supersession of orders under Section 119 of the Income-tax Act, 1961 (‘Act’) dated 30th September, 20 15 vide file of even number, the Central Board of Direct Taxes, in exercise of powers conferred under Section 119 of the Act, hereby orders that the returns of income and audit reports u/s 44AB due for e-filing by 30th September, 20 15 may be filed, across the country, by 3 1 st October, 2015.

(Rohit Garg)

Deputy Secretary to the Government of India

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DUE DATE FOR FILLING INCOME TAX RETURN FOR FY 2014-15 i.e. AY 2015-16 is 31st August 2015

CBDT has extended the due date for filing income tax return for FY 2014-15 i.e. AY 2015-2016 from 31st July 2015 to 31st August 2015. Due date is for all the assessee whose accounts are not required to be audited under this Act or under any other law for the time being in force. Again Same has been extended to 7th Sept for tax payers required to efile the return

Section 139: Income Tax Return 

(1) Every person,—

(a)  being a company or a firm; or

(b)  being a person other than a company or a firm, if his total income or the total income of any other person in respect of which he is assessable under this Act during the previous year exceeded the maximum amount which is not chargeable to income-tax,

shall, on or before the due date, furnish a return of his income or the income of such other person during the previous year, in the prescribed form and verified in the prescribed manner and setting forth such other particulars as may be prescribed :

In this sub-section, “due date” means,—

(a) where the assessee other than an assessee referred to in clause (aa) is—

 (i)  a company; or

(ii)  a person (other than a company) whose accounts are required to be audited under this Act or under any other law for the time being in force; or

 (iii) a working partner of a firm whose accounts are required to be audited under this Act or under any other law for the time being in force,

the 30th day of September of the assessment year;

(aa) in the case of an assessee who is required to furnish a report referred to in section 92E, the 30th day of November of the assessment year;

(b) in the case of a person other than a company, referred to in the first proviso to this sub-section, the 31st day of October of the assessment year;

(c) in the case of any other assessee, the 31st day of July of the assessment year.

F.No.225/154/201511TA.II
Government of India
Ministry of Finance
Department of Revenue
Central Board of Direct Taxes
North Block, !TAM Division

New Delhi, the 10m June, 2015.

Order under section 119 of the Income-tax Act 1961

Subject:- Extension of due date of filing return of income for Assessment Year 2015-16 — regarding.
The Central Board of Direct Taxes, in exercise of powers conferred under section 119 of the Income-tax Act, 1961, hereby extends the ‘due-date’ for filing Returns of Income, in terms of clause (c) of Explanation 2 to sub-section (1) of section 139 of the Income-tax Act, 1961, for Assessment Year 2015-16 from 31 July, 2015 to 31 August, 2015 in respect of income tax assessees concerned.

(Richa Rastogi)
Under secretary to the Government of India Copy to:-
1. PS to F.M. / OSD to FM / PS to MOS(R) / OSD to MOS(R).
2. PS to Secretary (Revenue).
3. Chairperson (DT), All Members, Central Board of Direct Taxes
4. All PCCsIT / PDGsIT
5. All Joint Secretaries / CsIT, CBDT
6. Directors / Deputy Secretaries / Under Secretaries of Central Board of
Direct Taxes.
7. DIT (RSP&PR) / Systems, New Delhi, for appropriate publicity by
putting it on departmental website.
8. The C&AG of India (30 copies).
9. The JS & Legal Advisor, Ministry of Law & Justice, New Delhi
10. The DG, NADT, Nagpur
11. The Institute of Chartered Accountants of India, IP Estate, New Delhi-
110003
12. All Chambers of Commerce
13. CIT(OSD) Official Spokesperson of CBDT
1/4….,14( Addl. CIT, Data Base Cell for putting it on irsofficersonline.govin

 

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Income Tax Challan Correction, Rectification of Challan Details

Process of Income Tax Challan Correction and Rectification of Challan Details. One of the most common problem related to payment of income tax is wrong details filed in Income Tax Challan,  So how to rectify or correct the Income Tax challan or how to transfer the   income tax paid to correct PAN Number or how to correct assessment year in IT Challan. So to solve the challan correction problem income tax Income Tax Department has introduced OLTAS (On Line Tax Accounting System), the physical challans of all Direct Tax payments received from the deductors / taxpayers are digitized on daily basis by the  collecting banks and the data transmitted to TIN (Tax Information Network) through link cell. At present, the banks are permitted to correct data relating to three fields only i.e. amount, major head code and name.

The other errors can be corrected only by the assessing officers. So if person want to correct the PAN number or  Assessment Year in Income tax Challan can do so within 7 days by filing application with Bank of Deposit but after 7 days he has to contact assessing officer for any correction in Income Tax Challan.

New Procedure of challan correction by banks (for physical challans):
To remedy this situation, a new Challan Correction Mechanism for physical challans has been put in place. Under this mechanism, for income tax payments made on or after  1.9.2011, the following fields can be got corrected through the concerned bank branch:

  • Assessment Year,  TAN/PAN,  Total Amount  can be corrected with in 7days from challan deposit date
  • Nature of payment (TDS Codes),  Major Head Code  Minor Head Code can be corrected with 3 months from challan deposit date.

Conditions for correction of Income Tax Deposit Challan by Bank
The changes can be made by the banks, subject to following conditions:

  1. Correction in Name is not permitted.
  2. Any combination of correction of Minor Head and Assessment Year together is not allowed.
  3. PAN/TAN correction will be allowed only when the name in the challan matches with the name as per the new PAN/TAN.
  4. The change of amount will be permitted only on the condition that the amount so corrected is not different from the amount actually received by the bank and credited to Govt. Account.
  5. For a single challan, correction is allowed only once. However, where 1st correction request is made only for amount, a 2nd correction request will be allowed for correction in other fields.
  6. There will be no partial acceptance of change correction request, i.e. either  all the requested changes will be allowed, if they pass the validation, or no change will be allowed, if any one of the requested changes fails the validation test.

Format of application to bank for challan correction to be requested by the taxpayer

To
The Branch Manager,
————————— (Address of Branch)
Taxpayer Details :
Taxpayer Name :
Taxpayer Address :
Taxpayer TAN/PAN :
Name of Authorized Signatory :
(in case of non-individual taxpayer)
Sub : Request for Correction in Challan No: 280/281/282/283 [Strike out which ever is not applicable]
Sir/Madam,
I request you to make corrections in the challan data as per following details :
Challan Details:
BSR Code Challan Tender Date (Cash/Cheque Deposit Date) Challan Sl. No.
Sl. No. Fields in which correction required Please Tick Original Details Modified Details
1. TAN/PAN (10 digit)
2. Assessment Year (YYYY)
3. Major Head code (4 digit)
4. Minor Head code (3 digit)
5. Nature of Payment (3 digit)
6. Total Amount (13 digit)
Note: Please tick against the relevant fields where changes are required.

Tax payer/Authorized Signatory

Date
Note:
1. Attach copy of original challan counterfoil.
2. In case of correction to challan 280, 282, 283 attach copy of PAN card.
3. In case of a non-individual tax payer, attach the original authorization with seal of the
non-individual tax-payer.
4. The request form for correction is to be submitted in duplicate to the bank branch.
5. A separate request form is to be submitted for each challan.

Form B, Download Income Tax Form B In PDF Format

Form B for Declaration to Be Submitted To the Depository Participant. Under the Rajiv Gandhi Equity Saving Scheme only Individual those are investing first time into the listed equity share and whose total income is less than Rs 10lakhs are eligible for deduction of Rs 50000/- for new investment made in the BSE-100 or CNX-100 by the Bombay Stock Exchange and the National Stock Exchange, equity shares of public sector enterprises, Units of Exchange Traded Funds (ETFs), Mutual Fund Scheme those investing into Initial Public Offer of a public sector undertaking wherein the government shareholding is at least fifty-one per cent and Public offer of BSE-100 or CNX-100 & public sector enterprises.

The new retail investor shall submit a declaration in Form B indicating that such securities are not to be included within the investment limit of Rs.50,000/-

Declaration to be submitted by the new retail investor to the depository participant on purchase of eligible securities.

To

Depository participant

Address

It is hereby informed that I have demat account no _________________ in ____________________ depository participant and the following securities

(a)

 

(b)

(c)

(d)

(e) purchased in the aforesaid demat account on ______________are not to be included as investment for the purpose of the Rajiv Gandhi Equity Savings Scheme.

 

Signature

Name of the Investor:

(first holder)

Address of the investor:

Permanent Account Number (PAN):

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Form A, Download Income Tax Form A In PDF Format

Form A for Declaration to Depository Participants for Availing the Benefits under the Rajiv Gandhi Equity Savings Scheme. Under the Rajiv Gandhi Equity Saving Scheme only Individual those are investing first time into the listed equity share and whose total income is less than Rs 10lakhs are eligible for deduction of Rs 50000/- for new investment made in the BSE-100 or CNX-100 by the Bombay Stock Exchange and the National Stock Exchange, equity shares of public sector enterprises, Units of Exchange Traded Funds (ETFs), Mutual Fund Scheme those investing into Initial Public Offer of a public sector undertaking wherein the government shareholding is at least fifty-one per cent and Public offer of BSE-100 or CNX-100 & public sector enterprises.

The new retail investor shall submit a declaration in Form A to the depository participant who will forward the same to the depository for verifying the status of the new retail investor.

 

Declaration to be submitted by the investors to the depository participants for availing the benefits under the Rajiv Gandhi Equity Savings Scheme.

Name of the Investor:

(first holder)

Address of the investor:

Permanent Account Number (PAN):

1. It is hereby certified that* —

 

(a) I do not have a demat account and I have not traded in any derivatives.

(b) I have demat account no _________________ in ____________________ depository participant but I have not traded in any equity shares or derivatives in this account.

(c) I have a joint demat account no _________________ in ____________________ depository participant but I am not the first account holder.

2. I hereby declare that I have read and understood all the terms and conditions of the Rajiv Gandhi Equity Savings Scheme.

3. It is hereby verified that I am an eligible new retail investor for availing the benefits under the Rajiv Gandhi Equity Savings Scheme.

4. I undertake to abide by all the requirements and fulfill all obligations under the Scheme, and will comply with all the terms and conditions of the Scheme.

5. I understand that, in case I fail to comply with any condition specified in the Scheme, the benefits availed there under will be withdrawn and the tax shall be payable by me accordingly.

 

Signature of the Investor

Place:

Date:

* Tick whichever is appropriate.

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Amendment in Income Tax Form 15G, 15H, 16, 16A, 24Q, 26Q, 27C, 27D, 27Q & 27EQ

Amendment in Income Tax Form 15G, 15H, 16, 16A, 24Q, 26Q, 27C, 27D, 27Q & 27EQ and Introduction New Income Tax Form 26B

Read TDS Rates on Salary and Interest Income 

Notification: 11 Date of Issue: 19/2/2013

In exercise of the powers conferred by section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules, 1962, namely:-

1. (1) These rules may be called the Income-tax (2nd Amendment) Rules, 2013.

(2) They shall come into force on the date of their publication in the Official Gazette.

2. In the Income-tax Rules, 1962, (hereinafter referred to as the said rules) in rule 31A,-

(a) in sub-rule (3),-

(A) in clause (i), for item (b), the following items shall be substituted, namely:-

“(b) furnishing the statement electronically under digital signature in accordance with the procedures, formats and standards specified under sub-rule (5);

(c) furnishing the statement electronically along with the verification of the statement in Form 27A or verified through an electronic process in accordance with the procedures, formats and standards specified under sub-rule (5)”;

(B) in clause (ii), for the words, brackets and letters “item (b) of clause (i)”, the words, brackets and letters “item (b) or item (c) of clause (i)” shall be substituted;

(C) in clause (iii), for the words, brackets and letters “item (b) of clause (i)”, the words, brackets and letters “item (b) or item (c) of clause (i)” shall be substituted;

(b) after sub-rule (3), the following sub-rule shall be inserted, namely:-

“(3A) A claim for refund, for sum paid to the credit of the Central Government under Chapter XVII-B, shall be furnished by the deductor in Form 26B electronically under digital signature in accordance with the procedures, formats and standards specified under sub-rule (5).”;

(c) in sub-rule (4), after clause (vii), the following clause shall be inserted, namely:-

“(viii) furnish particulars of amount paid or credited on which tax was not deducted in view of the notification issued under sub-section (1F) of section 197A.”;

(d) for sub-rule (5), the following sub-rule shall be substituted, namely:-

“(5) The Director General of Income-tax (Systems) shall specify the procedures, formats and standards for the purposes of furnishing and verification of the statements or claim for refund in Form 26B and shall be responsible for the day-to-day administration in relation to furnishing and verification of the statements or claim for refund in Form 26B in the manner so specified.”.

3. in rule 31AA of the said rules,-

(a) in sub-rule (3),-

(A) in clause (i), for item (b), the following items shall be substituted, namely:-

“(b) furnishing the statement electronically under digital signature in accordance with the procedures, formats and standards specified under sub-rule (5);

(c) furnishing the statement electronically along with the verification of the statement in Form 27A or verified through an electronic process in accordance with the procedures, formats and standards specified under sub-rule (5);”;

(B) in clause (ii), for the words, brackets and letters “item (b) of clause (i)” the words, brackets and letters “item (b) or item (c) of clause (i)” shall be substituted;

(C) in clause (iii), for the words, brackets and letters “item (b) of clause (i)”, the words, brackets and letters “item (b) or item (c) of clause (i)” shall be substituted;

(b) in sub-rule (4), after clause (iv), the following clause shall be inserted, namely:-

“(v) furnish particulars of amount received or debited on which tax was not collected in view of the furnishing of declaration under sub-section (1A) of section 206C by the buyer. “;

(c) for sub-rule (5), the following sub-rule shall be substituted, namely:-

“(5) The Director General of Income-tax (Systems) shall specify the procedures, formats and standards for the purposes of furnishing and verification of the statements and shall be responsible for the day-to-day administration in relation to furnishing and verification of the statements in the manner so specified.”.

4. For rule 31ACB of the said rules, the following rule shall be substituted, namely:-

“31ACB. Form for furnishing certificate of accountant under the first proviso to sub-section (1) of section 201.—(1) The certificate from an accountant under the first proviso to sub-section (1) of section 201 shall be furnished in Form 26A to the Director General of Income-tax (Systems) or the person authorised by the Director General of Income-tax (Systems) in accordance with the procedures, formats and standards specified under sub-rule (2), and verified in accordance with the procedures, formats and standards specified under sub-rule (2).

(2) The Director General of Income-tax (Systems) shall specify the procedures, formats and standards for the purposes of furnishing and verification of the Form 26A and be responsible for the day-to-day administration in relation to furnishing and verification of the Form 26A in the manner so specified.”.

5. For rule 37J of the said rules, the following rule shall be substituted, namely:-

“37J. Form for furnishing certificate of accountant under the first proviso to sub-section (6A) of section 206C.—(1) The certificate from an accountant under the first proviso to sub-section (6A) of section 206C shall be furnished in Form 27BA to the Director General of Income-tax (Systems) or the person authorised by the Director General of Income-tax (Systems) in accordance with the procedures, formats and standards specified under sub-rule (2) and verified in accordance with the procedures, formats and standards specified under sub-rule (2).

(2) The Director General of Income-tax (Systems) shall specify the procedures, formats and standards for the purposes of furnishing and verification of the Form 27BA and be responsible for the day-to-day administration in relation to furnishing and verification of the Form 27BA in the manner so specified.”.

6. In Appendix-II of the said rules,-

(a) for Form No. 15G, the following Form shall be substituted, namely:-

FORM NO. 15G

[See section 197A(1), 197A(1A) and rule 29C]

Declaration under section 197A(1) and section 197A(1A) of the Income-tax Act, 1961 to be made by an individual or a person (not being a company or firm claiming certain receipts without deduction of tax

(b) for Form No. 15H, the following Form shall be substituted, namely:-

FORM NO. 15H

[See section 197A(1C) and rule 29C(1A)]

Declaration under section 197A(1C) of the Income-tax Act, 1961 to be made by an individual who is of the age of sixty years or more claiming certain receipts without deduction of tax.

(c) for Form No. 16, the following Form shall be substituted, namely :—

FORM NO. 16

[See rule 31(1)(a)]

Certificate under section 203 of the Income-tax Act, 1961 for tax deducted at source on salary

(d) for Form No. 16A, the following Form shall be substituted, namely :—

FORM NO. 16A

[See rule 31(1)(b)]

Certificate under section 203 of the Income-tax Act, 1961 for tax deducted at source

(e) for Form No. 24Q, the following Form shall be substituted, namely :—

FORM NO. 24Q

[See section 192 and rule 31A]

Quarterly Statement of deduction of tax under sub-section (3) of section 200 of the Income-tax Act in respect of salary for the quarter ended ………….. (June/September/December/March) …………….. (Financial Year)

(f) after Form No. 26A, the following Form shall be inserted, namely :—

FORM NO. 26B

[See rule 31A(3A)]

Form to be filed by the deductor, if he claims refund of sum paid under Chapter XVII-B of the Income-tax Act, 1961

(g) for Form No. 26Q, the following Form shall be substituted, namely :—

FORM NO. 26Q

[See sections 193, 194, 194A, 194B, 194BB, 194C, 194D, 194EE, 194F, 194G, 194H, 194-I, 194J, 194LA, and rule 31A]

Quarterly statement of deduction of tax under sub-section (3) of section 200 of the Income-tax Act in respect of payments other than salary for the quarter ended …………….. (June/September/December/March) ………. (Financial year)

(h) for Form No. 27C, the following Form shall be substituted, namely :—

FORM NO. 27C

[See rule 37C]

Declaration under sub-section (1A) of section 206C of the Income-tax Act, 1961 to be made by a buyer for obtaining goods without collection of tax

(i) for Form No. 27D, the following Form shall be substituted, namely :—

FORM NO. 27D

[See rule 37D]

Certificate under section 206C of the Income-tax Act, 1961 for tax collected at source

(j) for Form No. 27EQ, the following Form shall be substituted, namely :—

FORM NO. 27EQ

[See section 206C and rule 31AA]

Quarterly statement of collection of tax at source under section 206C of the Income-tax Act, for the quarter ended ………. (June/September/December/March) ………. (Financial year)

(k) for Form No. 27Q, the following Form shall be substituted, namely :—

FORM NO. 27Q

[See sections 194E, 194LB, 194LC, 195, 196A, 196B, 196C, 196D and rule 31A]

Quarterly statement of deduction of tax under sub-section (3) of section 200 of the Income-tax Act in respect of payments other than salary made to non-residents for the quarter ended …………….. (June/September/December/March) ………. (Financial Year)

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Format of Certificate to be obtained by Auditor, under clause 17(h) of Form CD of the Tax Audit Report

To

 

PQR & Associates/Co.
Chartered Accountants
XYZ City

 

CERTIFICATE

 

UNDER CLAUSE 17(h) A OF FORM 3CD

(Read With Section 40a (3) Read With Rule 6dd Of The Income Tax Act, 1961)

 

1. Name of the Assessee                       :_______________________________________
2. Address                                               :_______________________________________
3. Permanent Account Number          :__________________
4. Status :__________________
5. Previous year ended                         :__________________
6. Assessment year                                :__________________

 

I/We (the above named assessee/ partner or director of the above named assessee) do hereby certify, for and on behalf of the assessee, that the following expenditure  is incurred by the assessee during the previous year ended as stated above, in excess of Rs. 20,000/- otherwise than by account payee cheque drawn on a bank or by account payee bank draft, and is therefore not allowable under the provisions of Section 40A(3) read with Rule 6DD of the Income Tax Act, 1961 read with Rule 6DD and accordingly 100% of the following expenditure is added back as income while computing the total income of the assessee for the above said assessment year Viz.:

 

DateParticularsAmountAllowanceDisallowance
Total          Rs.

I/We (the above named assessee/ partner or director of the above named assessee) do hereby further certify, for and on behalf of the assessee, that all other expenditure  incurred by the assessee during the previous year ended as stated above, in excess of Rs. 20,000/- is incurred by account payee cheque drawn on a bank or by account payee bank draft only and not otherwise, except in such cases and in such circumstances (having regard to the nature and extent of banking facilities available. considerations of business expediency and other relevant factors) as prescribed under Rule 6DD of the Income Tax Act, 1961.

 

Place:_____________

                     ________________

                                                   Proprietor / Partner / Director

Date:______________