• Skip to main content
  • Skip to secondary menu
  • Skip to primary sidebar
  • Skip to footer
  • About Us
  • Executive Team
  • Investors
  • Privacy Policy
  • Terms Of Use
  • Contact Us

  • Blog
  • Tax Services
    • E-file ITR for Salaried
    • E-file ITR for Business
    • TDS E-file for Business
    • Manage Tax Practice
  • Tax Optimizer
    • Optimize Tax – Salaried
    • Optimize Business Tax
  • Help
    • FAQs
    • Glossary
    • Resources
    • Product Tour
    • Tax Calculator
  • Efiling
  • Income & Investments
  • Tax Compliance
  • Tax Optimization
  • Tax Refunds

Earning More than 5 Lakhs? E-filing is compulsory

June 24, 2016 by Sudhir Kaushik

Out of the 4 crore income tax returns (ITRs) filed during the financial year 2011-12, 1.64 crore and 2.15 crore in 2012-13 were filed online. Majority of these were voluntary e-filers. This acceptance of the facility has made the government confident to make it mandatory for people with more than Rs. 5 lakh of total income (includes income from salary, professional, rental, capital gain on shares/property etc., business, interest on deposits or any other source).
Although e-filing has been made mandatory for individuals having total income above Rs. 5 lakh, they are not required to use digital signature.

What’s your status for Assessment Year 2013-14

Source
of
income

Total Income
Efiling
mandatory

DSC
required

Opt
for

Salary, interest, capital gain, rental income, professional or business income
Rs. 5 lakh
and above
Yes
No
Salary
TaxOptimizer

Salary, interest, capital gain, rental income, professional or business income
below
Rs. 5 lakh
No
No
Salary
eFile Plus

Professional or contract employees
Rs. 25 lakh
and above
Yes
Yes
Business
TaxOptimizer

Professional or contract employees
below
Rs. 5 lakh
No
No
Business
eFile Plus

Business income
or F &O
Gross receipts below
Rs. 100 lakh
No
No
Business
eFile Premium

Business income
or F &O
Gross receipts above Rs. 100 lakh
Yes
Yes
Business
TaxOptimizer

Efiling Mandatory for 5 Lakh+ Earners

If we analyze the reasoning of the government around this measure, this step can be seen as a pilot run for making online filing of ITR mandatory for all taxpayers. The I-T Department may have started with the section of people earning more than Rs. 5 lakh as the amount of refund claimed by them is high. Hence, making them efile mandatorily will prevent any delay in paying back this amount. That way, government will save on the interest amount paid by it to taxpayers who have paid more tax than due.
Moreover, the general direction of the Income Tax Department indicates that the complete process of filing ITR and after-filing procedures will be made electronic. The department has already mandated for TDS deductors, the download of Form 16 and 16A from NSDL website.
From assessment year 2013-14, e-filing with digital signature has been mandatory for:

  • individuals having business income with receipts of Rs. 100 lakh
  • professionals with income of Rs. 25 lakh

Why Efile?

Efiling is anyway the simplest way to file your ITR. All you need to do is visit http://www.taxspanner.com/ts/ebe/, fill in your personal details and attach your digital form 16. All electronically filed returns are processed on priority basis at the I-T Department’s Centralized Processing Centre at Bangalore. Thus, refunds are issued faster on efiled returns. E-filing is a much more streamlined process than paper-filing and is also more environment-friendly.

Filed Under: Tax Refunds

Primary Sidebar

E-mail Newsletter

  • Facebook
  • Instagram
  • LinkedIn
  • RSS
  • Twitter
  • YouTube

More to See

TDS RETURN FILING: know law, software process and benefits of outsourcing

September 21, 2022 By Aastha Sharma

How Salary Restructuring Helped in Saving Tax?

August 17, 2022 By Sudhir Kaushik

Tags

advance tax black money budget 2017 claims tax benefits CTC Direct Tax Burden e-file tax return elss ultimate returns form 16 gratuity hard earned money home loan nps HRA income expenses income tax declaration income tax department income tax return income tax saving investment declaration Investment tax saving investor financial needs long-term capital gains medical leave encashment National Pension System NPS plan your investments presumptive taxation scheme retirement benefits return filing deadline save tax section 80c self assessment tax service tax short-term capital gains Suggestions Budget 2017 tax tax-free tax details salaried taxpayers tax efficiency tax optimization tax return filing tax saving tax saving tips taxspanner undeclared income

Footer

Services

  • E-file Tax Returns
  • Tax Optimizer
  • Respond To ITD
  • Consult Experts
  • Tax Practitioners
  • TDS Returns

Help

  • Product Guide
  • FAQs
  • Tax Calculators
  • Glossary
  • Contact Us
  • Forget Password

Taxspanner logo
TaxSpanner is India’s largest and most trusted website that offers online preparation and filing of individual Income Tax Returns (ITR).

Read More

Copyright © 2023 · Span Across IT Solutions Private Limited.