The latest notification of the Income tax department says that persons with more than Rs. Five lac income have to file their Income tax returns online. What are the implications?.
1. They have to register with the Income with the E Filing Website and get a Password. The user I'd is always the PAN number. It is a tedious job for which persons do not have previous experience in computer operations need the help of a Chartered Accountant. Of course you need to pay for it.
2. The assessee, need to get a digital signature for filing the returns. The Chartered Accountant will help you in getting a digital signature. He will also help and teach you how to sign with the digital signature.
3. Despite the promise of the Govt, that the income tax return filed online, will be processed faster and refunds granted earliest, in practice it does not happen. Many returns filed for the earlier year are still pending for disposal with the Central Processing Centre at Bangalore.
4. Let us hope that all the glitches at CPC will be sorted out and returns processed faster this year.
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