DOWNLOAD INCOME TAX EXCEL UTILITY F.Y. 2012-13 A.Y. 2013-14

GENERATE XML FILE DIRECTLY FROM EXCEL

S.No.	Return Form	Applicable to	Download Excel Utility
1.	ITR-1 (SAHAJ)	For Individuals having Income from Salary/Pension or Income from One House Property (excluding cases where loss is brought forward from previous year) or Income from Other sources (excluding winning from lottery and Income from race horses)	ITR-1
2.	ITR-2	For Individuals and HUFs not having Income from Business or Profession	ITR-2
3.	ITR-3	For Individuals/HUFs being Partners in firms and not carrying out business or profession under any proprietorship	ITR-3
4.	ITR-4	For Individuals and HUFs having Income from  a proprietory business or profession	ITR-4
5.	ITR-4S (SUGAM)	For Individuals and HUFs whose Income includes Business Income computed in accordance with the provisions of Section 44AD or 44AE (Presumptive Business Income)	ITR-4S
6.	ITR-5	For Firrms, AOPs and BOIs	ITR-5

New Income Tax Return Forms for the F.Y.2012-2013 A.Y.2013-2014

S.No.	Return Form	Applicable to	Download
1.	ITR-1 (SAHAJ)	For Individuals having Income from Salary/Pension or Income from One House Property (excluding cases where loss is brought forward from previous year) or Income from Other sources (excluding winning from lottery and Income from race horses)	ITR-1 Instructions Acknowledgement
2.	ITR-2	For Individuals and HUFs not having Income from Business or Profession	ITR-2 Instructions Acknowledgement
3.	ITR-3	For Individuals/HUFs being Partners in firms and not carrying out business or profession under any proprietorship	ITR-3 Instructions Acknowledgement
4.	ITR-4	For Individuals and HUFs having Income from  a proprietory business or profession	ITR-4 Instructions Acknowledgement
5.	ITR-4S (SUGAM)	For Individuals and HUFs whose Income includes Business Income computed in accordance with the provisions of Section 44AD or 44AE (Presumptive Business Income)	ITR-4S Instructions Acknowledgement

CBDT INSTRUCTION - PROCESSING OF RETURNS FOR THE A.Y. 2011-12

CBDT Instruction No. 01/2012 [F.NO.225/34/2011-ITA.II], dated 2-2-2012

Due to the TDS verification problem (i.e, mismatch of TDS claim with 26 AS) CBDT has issued following directions for easier processing of returns for the A.Y. 2011-12

 

i)            In all returns (ITR-1 to ITR-6), where the difference between the TDS claim and matching TDS amount reported in 26-AS data does not exceed Rs. One Lac, the TDS claim may be accepted without verification.

ii)          Where there is zero TDS matching, TDS credit shall be allowed only after due verification. However, in case of returns of ITR-1 and ITR-2, credit may be allowed in full, even if there is zero matching, if the total TDS claimed is Rs. Five thousand or lower.

iii)      Where there are TDS claims with invalid TAN, TDS credit for such claims are not to be allowed.

iv)              In all other cases, TDS credit shall be allowed after due verification.

Source : Internet

TDS RATE CHART as on 01.04.2011

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New Section 44AD – Presumptive Income Scheme

Section 44AD has been modified w.e.f A.Y.2011-12 and a brief descriptive chart of the new provisions of the section is as under

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New Income Tax Return Forms for the F.Y.2010-2011 A.Y.2011-2012

New Income Tax Return Forms for the F.Y.2010-2011 A.Y.2011-2012

 

S.No.	Return Form	Applicable to	Download
1.	ITR-1 (SAHAJ)	For Individuals having Income from Salary/Pension or Income from One House Property (excluding cases where loss is brought forward from previous year) or Income from Other sources (excluding winning from lottery and Income from race horses)	ITR-1 Instructions Acknowledgement
2.	ITR-2	For Individuals and HUFs not having Income from Business or Profession	ITR-2 Instructions Acknowledgement
3.	ITR-3	For Individuals/HUFs being Partners in firms and not carrying out business or profession under any proprietorship	ITR-3 Instructions Acknowledgement
4.	ITR-4	For Individuals and HUFs having Income from  a proprietory business or profession	ITR-4 Instructions Acknowledgement
5.	ITR-4S (SUGAM)	For Individuals and HUFs whose Income includes Business Income computed in accordance with the provisions of Section 44AD or 44AE (Presumptive Business Income)	ITR-4S Instructions Acknowledgement
6.	ITR-5	For Firrms, AOPs and BOIs	ITR-5 Instructions Acknowledgement
7.	ITR-6	For Companies other than companies claiming exemption under section 11	ITR-6 Instructions Acknowledgement
8.	ITR-7	For persons including companies required to furnish return under section 139(4A) or section 139(4B) or section 139(4C) or section 139(4D)	ITR-7 Instructions Acknowledgement

Income Tax Rates for the A.Y.2012-13

From April 1, 2011 new tax slabs apply, which are as follows:

F.Y.2011-12 (A.Y.2012-13)

a) Individuals, HUF’s, AOPs, BOIs

For Resident Women (Age limit = below 60 years)
Up to Rs 1,90,000	NIL
Rs 1,90,001 to Rs 5,00,000	10 per cent
Rs 5,00,001 to Rs 8,00,000	20 per cent
Rs 8,00,000 and above	30 per cent
For Resident Senior Citizens (Age limit =  60 years or more at any time during the year but not more than 80 years on the last day of the year)
Up to Rs 2,50,000	NIL
Rs 2,50,001 to Rs 5,00,000	10 per cent
Rs 5,00,001 to Rs 8,00,000	20 per cent
Rs 8,00,000 and above	30 per cent
For Resident Super Senior Citizens (Age Limit = 80 years or more at any time during the  year)
Up to Rs 5,00,000	NIL
Rs 5,00,001 to Rs 8,00,000	20 per cent
Rs 8,00,000 and above	30 per cent
For any other individual, every HUF /AOP / BOI artificial juridical person
Up to Rs 1,80,000	NIL
Rs 1,80,001 to Rs 5,00,000	10 per cent
Rs 5,00,001 to Rs 8,00,000	20 per cent
Rs 8,00,001 and above	30 per cent

 

b) Partnership Firms

                        Income Tax Rate = 30 %

                        Education Cess @ 3%

c) Corporate Income Tax

            1. For Domestic companies

                        Income Tax Rate = 30 %

                        Surcharge @ 5% (If gross turnover of company exceeds Rs. 1 Crore)

                        Education Cess @ 3%

            2. For Foreign Companies

                        Income Tax Rate = 40 %

                        Surcharge @ 2% (If gross turnover of company exceeds Rs. 1 Crore)

                        Education Cess @ 3%

 d) Co-operative Societies

             The Following rates are applicable to a co-operative society

Net Income Range	Rate of Income Tax
Up to Rs 10,000	10 per cent
Rs 10,000 to Rs 20,000	20 per cent
Rs 20,000 and above	30 per cent

Education cess @ 3% on total tax is also payable.

 

e) Local Authorities

For Local authorities, Income is taxed at a flat rate of 30%. An education cess of 3% is payable on the tax, yielding effective tax rate of 30.90%.