Table of contents
Q.1) Can revised return be filed with a different Form no. than original return form?
A person can revise his return of income under section 139(5) with correct applicable ITR Form, if he has not furnished return of income with correct ITR Form under section 139(1) in pursuance of notice issued under section 142(1).
Q.2) What are the modes of verify Income Tax Forms?
|S.No.||Form Name||Mode of Verification
|1.||Form 3CA 3CD||DSC|
|2.||Form 3CB 3CD||DSC|
|7.||Form 10||EVC/DSC/Aadhaar OTP|
|26.||Form 15G (Consolidated)||DSC|
|27.||Form 15H (Consolidated)||DSC|
|28.||Form 24Q||EVC/DSC/Aadhaar OTP|
|29.||Form 26Q||EVC/DSC/Aadhaar OTP|
|30.||Form 27EQ||EVC/DSC/Aadhaar OTP|
|31.||Form 27Q||EVC/DSC/Aadhaar OTP|
|32.||Form 35||EVC/DSC/Aadhaar OTP|
|41.||Form 9A||EVC/DSC/Aadhaar OTP|
|42.||Form 1- IDS||EVC/DSC/Aadhaar OTP|
|43.||Form 3- IDS||EVC/DSC/Aadhaar OTP|
|47.||Form 1- PMGKY||EVC/DSC/Aadhaar OTP|
|48.||Form V- PMGK Deposit reporting||DSC|
|50.||Form 1- Equalization Levy||EVC/DSC/Aadhaar OTP|
|51.||Form 3- Equalization Levy||EVC/DSC/Aadhaar OTP|
|56.||Form 3CFA||EVC/DSC/Aadhaar OTP|
|57.||Form 10IB||EVC/DSC/Aadhaar OTP|
|60.||Form 67||EVC/DSC/Aadhaar OTP|
Q.3) What are the consequences of late filing of income tax return of A.Y 2018-19?
Return of income which is filed after the specified time period prescribed under section section 139(1) is called belated return. Belated return of income is furnished under 139(4).
From A.Y 2018-19 and onwards , a belated return attracts late filing fees under section 234F.
As per section 234F, late filing fees of Rs.5,000 shall be payable if return is furnished after specified time period prescribed under 139(1), but on or before 31st December of the assessment year. In other cases, late filing fees of Rs. 10,000 is payable. However, amount of late filing fees to be paid cannot exceed Rs.1,000, if the total income of the person does not exceed Rs.5 lakhs.
Q.4) How to verify ITR-V?
E verification of ITR can be done through various modes by login at www.incometaxindiaefiling.gov.in . Various modes of e-verification are as follows:
- E-verification using e-filing OTP ( whose total income is less than 5 lakh and no refund is due)
- E-verification using net banking, demat account or bank account
- E-verification using Aadhaar OTP
Enter the OTP received and then click submit to e-verify the ITR .