Income Tax Returns for FY 2016-17

Income Tax Returns for FY 2016-17

India is now on path of becoming Digital India and it is evident from the way our government works.

  • For FY 2016-17, new ITR forms have been released by Income Tax Department on 31st March, 2017 itself.

From ITR of FY 2016-17 for filing returns of Income:

  • Aadhar number is must
  • Mobile Number and e-mail id of the person is to be shared
  • Income tax department has started to do communication with individuals through e-mail primarily, thus everyone needs to give e-mail id of their own and which is being used on regular basis

EVC (electronic verification code)

  • It is a 10 digit alphanumeric code which can be generated through e-Filing portal and is valid for 72 hours).
  • An EVC code can be generated through Net Banking,Bank Account number and now through NSDL Demat account
  • EVC code reduces the requirement of signing the acknowledgement and sending the same to CPC.

Due Dates for filing of returns

  • Audit cases – 30th September, 2017
  • Non Audit cases – 31st July, 2017