FAQs

Yes,
but condition applied You require filing an Income Tax Return if your total taxable income exceeds the basic exemption limit before taking into account deductions. For the financial year 2009-2010, the basic exemption limit is Rs.1, 60,000. For women, the limit is Rs.1, 90,000, while for Senior Citizens it is Rs.2, 40,000. You do not need to file an income tax return if your total taxable income does not exceed the basic exemption limit before attractive into account deductions, even though you may have a PAN.

It is mandatory to quote PAN on return of income, all correspondence with any income tax authority. From 1 January 2005 it will be mandatory to quote PAN on challan for any payments due to Income Tax Department. Permanent Account Number (PAN) is a ten-digit alphanumeric number, issued in the form of a laminated card, by the Income Tax Department.

A typical PAN is AABPS1205E
It is also compulsory to quote PAN in all documents pertaining to financial transactions notified from time-to-time by the Central Board of Direct Taxes. Some such transactions are sale and purchase of immovable property or motor vehicle or payments in cash, of amounts exceeding Rs. 25,000/-to hotels and restaurants or in connection with travel to any foreign country. It is also mandatory to mention PAN for obtaining a telephone or cellular telephone connection. Likewise, PAN has to be mentioned for making a time deposit exceeding Rs. 50,000/- with a Bank or Post Office or depositing cash of Rs. 50,000/- or more in a Bank.

Yes,
Yes, it is compulsory to quote PAN on return of income.

Copy of school leaving certificate or matriculation certificate or degree of a recognized educational institution or depository account or credit card or bank account or water bill or ration card or property tax assessment order or passport or voter identity card or driving license or certificate of identity signed by a MP or an MLA or a Municipal Councilor or a Gazette Officer;

In case the PAN applicant is a minor, any of above documents of any of the parents or guardian of such minor shall serve as proof of Identity; In case PAN application is made on behalf of a HUF, any of above documents in respect of Karta of the HUF will serve as proof of Identity.

If an application for allotment of PAN is submitted through Internet and payment made through a 'nominated' credit card, the PAN is allotted on priority and communicated through email.

Permanent Account Number (PAN), as the name suggests, is a permanent number and does not change during lifetime of PAN holder. Changing the address or city, though, may change the Assessing Officer. Such changes must, therefore, be intimated to nearest IT PAN Service Center or TIN Facilitation Center for required correction in PAN databases of the Income Tax department. These requests will have to be made in a form for 'Request For New PAN Card Or/ And Changes In PAN Data'

Please, get in touch with Taxeworld.com team on oninfo@taxeworld.com
Tel :+91-22-27556677 Fax : +91-22-27556600. Toll Free :1800-22-6670

Any Individual having the following types of income can opt for Taxeworld.com services:

1. Income from Salary
2. Income from House Property
3. Income from capital gain (Shares, Mutual Fund units, Bonds) or Property
4. Income from other sources ( way of Interest, Dividend, Gifts, Family Pension, Agricultural Income)
5. Income  from business and profession

1. Income from:
   • Rendering Professional Services
   • Consultancy Services other than Professional
   • Trading in Shares as Trader
   • Trading in Futures and Options
   • Speculation Transactions
   • Contract Employment
   • Commission / Brokerage
2. Individual who are not liable to Tax Audit (Gross Income is within the specified limit for Tax Audit),
3. Individual whose books of accounts for previous financial year were not subject to Tax Audit,
4. Individual does not maintain books of account,
5. Individual whose not liable to maintain books of account under section 44AA,
6. Individual is not a partner in any partnership firm
7. Individual does not want to file IT Return as per Presumptive Taxation under Sec 44AD, Sec 44AE or Sec 44AF or Sec 44BB or Sec 44BBB or any other provision
8. Brought Forward Losses (Except Loss from Activity of owning and maintaining Race Horses)
9. Clubbing of Income.

You have two options to E-file your return:

1. Procedure to E-file at Taxeworld.com through E-Return Intermediary
   • Authorize upload of your E-return
     Click the "E-file My Return" button on the last screen of Taxeworld.com application.
   • Receive ITR-V in email.
     You will receive one-page acknowledgment of your e-filing (named ITR-V) in your email.
     You have to sign and post/mail a signed copy of ITR-V to the income tax PO Box.
2. Procedure to E-file Yourself
   • Download your E-return
     Download your electronic return (XML file) from Taxeworld.com and save it on your computer.
   • Upload your E-return
     Upload the saved XML file on Income Tax department website (www.incometaxindiaefiling.gov.in). If you have DSC (Digital Signature Certificate), attach DSC along with your XML file.
     If you already have a username/password on Income Tax department website, login using that. Else, create your login using your name, date of birth and PAN.
   • Receive ITR-V in email.
     You will receive one-page acknowledgment of your e-filing (named ITR-V) in your email. If you attached your DSC with the e-return, simply save your ITR-V. You do not need to do anything else.
     If you did not attach your DSC with the e-return, then you have to sign and post/mail one copy of ITR-V to the income tax PO Box.

Taxeworld.com can help you e-file your return using 2 filing methods:

E-filing using a Digital Signature- Steps involved:

• Prepare your return on Taxeworld.com
• Review your Tax Calculation.
• Get your Income tax Return generated in electronic format
• Attach Digital Signature (if you don’t have a digital signature, subscribe for Taxeworld.com DSC).
• Authorize Taxeworld.com to e-file your Return.
• Get acknowledgment from Income Tax Department in your mail box. That concludes your e-filing.

without a Digital Signature– Steps involved:

• Prepare your return on Taxeworld.com
• Review your Tax Calculation.
• Get your Income tax Return generated in electronic format
• Authorise Taxeworld.com to e-file your Return.
• Get ITR-V from Income Tax Department in your mail box.
• Get ITR-V from Income Tax Department in your mail box.
• Download and print ITR-V, sign it and enclose it in an A-4 size envelope.
• Mail this envelope to “Income Tax Department – CPC, Post Box No.1, Electronic City Post Office, Bangalore – 560100, Karnataka” within 120 days of e-filing.
• Receive e-mail from Income Tax Department, acknowledging the receipt of ITR-V. That is your final acknowledgement. That concludes your e-filing.

• ITR-V stands for ‘Income Tax Return – Verification’ form.
• This form is received when you e-file without using a digital signature.
• Income Tax Department needs to verify the authenticity of income tax return when filed online without using a digital signature.
• On receipt of ITR-V you have to sign the copy and submit to the Income Tax Department to complete the filing process.

No, you cannot. You have to compulsorily mail your ITR-V in a sealed A-4 envelope to the address mentioned above.

Yes, you should mail your ITR-V within 120 days of e-filing your return. The Income Tax Department has extended the time limit for filing of ITR-Vs e-filed without digital signature, on or after 1st April 2009 to 31st March 2010 or within period of 120 days of from date of e-filing, whichever is later.

If you miss submitting your ITR-V within 120 days, your e-filing will be considered as null and void. It means that it will be considered that you have not yet filed your return. In such a case you will have to file revised return, get a new ITR-V and submit the same within 120 days.

The Income Tax Department has extended the time limit for filing of ITR-Vs e-filed without digital signature, on or after 1st April 2009 to 31st March 2010 or within period of 120 days of from date of e-filing, whichever is later.

The Last Date to file your Income Tax Return is 31st July. Thus for financial year ended on 31st March, 2009, the last date of filing return is 31st July, 2009.

No, it does not mean so. You can file return after the last date also. However in such case you will have to pay penal interest @ 1% per month for late filing

Revised return is filed when there were some mistakes when you originally filed your return and now you want to rectify that mistakes and file a rectified return. With Taxeworld.com you can prepare revised return and file.

Taxeworld.com Customer Support team will be happy to help resolve all your doubts and queries. You can either: Call us on 022-27556677 or Write to us at info@taxeworld.com. Toll Free :1800-22-6670

With Taxeworld.com, you can confidently prepare and file your Income Tax Return on your own. We believe you can, because:

• You are guided through simple interactive screens with online help available at each step.
• If you have basic queries like navigating through the website, printing your return etc., you can contact us by phone or email us.
• Your tax calculations are done by intelligent algorithms that are built into our website and incorporate the latest updates. So you do not have to bother about tax laws and updates. Our system does it all!

Actually, filing returns online is not at all difficult. Read the feedback from other customers just like you about filing using Taxeworld.com

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• Taxeworld.com uses globally accepted 128-bit encryption Secure Sockets Layer (SSL) technology to protect your data while being transmitted from your computer to its data servers. This technology is used by banks globally, and offers the highest level of protection against any third-party intrusion
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Keeping financial and personal information about you secure and confidential is one of our most important responsibilities. We take the following steps to protect our systems and their interaction with you:

• All your data is located in secure servers, which can only be accessed by Taxeworld.com staff.
• Encrypting the transmission of data makes it difficult to intercept sensitive information as it travels between two parties. We encrypt the dedicated lines that connect our systems, and we use Secure Socket Layer (SSL) technology to encrypt the connection that we make with you over the Internet.
• Time-out Feature. As an added precaution, sessions will timeout if they are inactive for 20 minutes or more. Note: Please note that e-mail sent over the Internet may not be secure. When sending e-mail, do not include sensitive information such as your password.