Advocate Akhilesh Kumar Sah

LAUNCH OF THE NEW ITR FORMS FROM THE START OF THE ASSESSMENT YEAR 2017-18

Right from the beginning there have been emphasis on the changing and incorporating the suitable provisions in respect of Income Tax Return (ITRs) forms. Going are the days for the manual filling and filing of the ITRs. There is continuous emphasis on the e-filing of the ITRs. Now, taxpayers are also realising the utility in e-filing of ITRs. Government, also realising the need of simplification of the forms, is providing simpler forms like Form 1, 2A, 4S. Looking to the practical working at present for the Assessment Year 2016-17, following ITR Forms are available:

Income Tax Return Forms

ITR No. Class/type of assesses/persons
ITR – 1 (Sahaj)
For Individuals having Income from Salary & Interest.
ITR – 2
For Individuals & HUFs not having Income from Business or Profession.
ITR – 2A
For Individuals & HUFs not having Income from Business or Profession and Capital Gains and who do not hold foreign assets.
ITR – 3
For Individuals/HUFs being partners in firms and not carrying out business or profession under any proprietorship.
ITR – 4
For Individuals & HUFs having income from a proprietory business or profession.
ITR – 4S (Sugam)
For Individuals/HUF/Partnership Firm having income from presumptive business.
ITR – 5
For the persons other than:
(i) individual,
(ii) HUF,
(iii) company and
(iv) person filing ITR-7.
ITR – 6
For the Companies other than companies claiming exemption under section 11 of the Income Tax Act, 1961.
ITR -7
For the persons including companies required to furnish return under sections 139(4A) or 139(4B) or 139(4C) or 139(4D) or 139(4E) or 139(4F) of the Income Tax Act, 1961.

It has been seen since the incorporation of e-filing system of ITRs, Forms are introduced on the internet/e-filing site of the Income Tax Department in the last of April or May, which should not be the case. Even if forms are launched early they were of no use if department do not release e-filing utility with the same. Timely release also become important considering the fact that in Budget 2017 government has provide Stringent Late Filing Fees for Late Filing of Income Tax Return. Further Many taxpayers have to file according to their urgent needs e.g. for taking loans or for taking Visas, etc.

Therefore, there should be planning well in advance by Government agencies so that ITRs with e-filing utility are launched in the first week of the start of the Assessment Year 2017-18 (relevant to Financial Year 2016-17) i.e. in first week of April, 2017.

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14 responses to “Launch ITR with e-filing utility for AY 2017-18 in First week of April”

  1. HARI OM VIJ says:

    The banks are giving 16/16A, certificate upto 15th of June every year how we could file ITR before this pl.

  2. GANDHI MOHAN BHARATI says:

    R.Venkatraman is RIGHT. It only helps developers and NOT Tax Payees. Either Last date for filing should be delayed to 31 August or Form 16/16A & 26 AS Final should be made available before 15 April.
    The Govt is lenient to Deductors by extending the date till May 30th; whereas penalise the genuine Tax Payer for delay.

  3. shrawan kumar says:

    income from goat farming is taxable or not?
    and how can I file ITR

  4. Rajendran says:

    It is correct that the IT dept. is inefficient in releasing the forms in April itself if not in March. But they stick on to the last date for filing returns. Funny , this happens only in India. You have to bear it or you are not patriotic.

  5. URKRao says:

    Forms should be available in the last week of March and acceptance from April 1.

  6. V.k.dadoo says:

    The forms should be available before 31.03.2017 online filing of Income Tax Return. Why not?

  7. rajesh ittina says:

    Manual filingup of ITR`s should be reintroduced. Because, all senior ITP`s nor public don`t e-filing up process. Few senior ITP`s have been sitting idle after inroduction of e-filing process because they are not perfect in e-filing process. In this regard the government has to give option for filing the manual filing in the concerned jurisdiction. Because, to e-file it they loose the money out of there feeses. if they charge e-filing fee they will loose their clients.

  8. NAND KISHORE says:

    R VENKATARAMAN IS RIGHT

  9. CA. S.C.Podder says:

    start early is good.

  10. ASSESSEE says:

    correct. LATE RELEASE OF FORMS MEANS THE DEVELOPERS R NOT UPTO THE MARK. EVERY YEAR THERE R ONLY ONE OR TWO MINOR CHANGES FOR WHICH THE DEVELOPERS REQUIRE 2-3 MONTHS AFTER PASSING OF BUDGET. HV ALL THE EFFICIENT SOFTWARE DEVELOPERS FLED BHARATH AND GONE TO ” TRUMP-LAND ” I WONDER.

  11. R VENKATARAMAN says:

    but TDS as well as 26AS will be available only after May 15th. then what is the use of early launching of ITR?

    • VSTANEJA says:

      FORM 26AS SHOULD BE AVAILABLE FIRST TO DEPOSIT ADVANCE TAX CORRECTLY INSTEAD OF CLAIMING REFUNDS
      FORMS SHOULD BE FURTHER SIMPLIFIED.
      TDS CERTIFICATE NO. COLUMN IN FORM SHOULD BE REMOVEDAAS INFO IS AVAILABE IN
      26AS. ALL BANK A/Cs ARE LINKED TO PAN, BANK NAMES AND OTHER DETAILS SHOULD BE DONE AWAYWITH

    • sunil says:

      Thats really true Govt should change Due dates of filing itax returns once for all after taking this into consideration.The present due dates have been devised during old TDS REGIME

    • ram babu says:

      ? to link with 26AS. Whoever do not want OR
      need not wait OR
      confident of their deductors
      filing their returns properly OR
      want to file under any OR all circumstances in April itself will file.
      Last a client of mine who want to go for housing loan, could not do so till May ending as ITR 4 was released very lately..
      The dept. ALL-ways want to DERIVE SADISTIC PLEASURE (just as they derive when assessees / practitioners visit the offices)

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