E-filing of audit report and return mandatory with 5 lakh or more income


CBDT mandates e-filing of audit report and return with 5 lacs income; no more ITR 1 if Sec 10 benefit exceeds 5k
Income-tax (3rd Amendment) Rules, 2013 redefine the conditions and eligibility to choose from a variety of Income-tax return forms. In addition, certain important amendments have also been made in, which are as follows:

Form
Existing position
New Position
Form Sahaj
Return in ITR 1 can't be filed if assessee incurs losses under the head 'Income from other sources'
(ITR 1)
An individual if his total income includes:
An individual if his total income includes:

(a)  Salary and family pension;
(a)  Salary and family pension;

(b)  Income from one house property (excluding losses);
(b)  Income from one house property (excluding losses);

(c)  Income from other sources but does not include:
(c)  Income from other sources but does not include:

•  Winnings from lottery; and
•  Winnings from lottery;

•  Winnings from horse races.
•  Winnings from horse races; and


 Loss under this head.
Form Sahaj
 Return in ITR 1 can't be filed if assessee claims tax relief or has any income which is exempt under Chapter III
(ITR 1)
Return in ITR 1 cannot be filed by a resident person (other than not ordinarily resident in India), if he has:
Return in ITR 1 cannot be filed by a resident person (other than not ordinarily resident in India), if he has:

(a)  Any asset (including financial interest) located outside India;
(a) Any asset (including financial interest) located outside India;

(b)  Signing authority in any account located outside India.
(b) Signing authority in any account located outside India;


(c) Claimed any relief of tax under Section 90, 90A or 91;


(d) Incomme exceeding Rs. 5,000 which is not chargeable to tax. In other words, if assessee claims exemption in respect of any income under Section 10, 10A, 10AA, etc.
Form Sugam
Return in ITR 4S can't be filed if assessee claims tax relief or has any income which is exempt under Chapter III
(ITR 4S)
Return in ITR 4S cannot be filed by an Individual or a HUF deriving income as referred to in Sections 44AD or 44AE, if it has:
Return in ITR 4S cannot be filed by an Individual or a HUF deriving income as referred to in Sections 44AD or 44AE, if it has:

(a)  Any asset (including financial interest) located outside India;
(a)  Any asset (including financial interest) located outside India;

(b)  Signing authority in any account located outside India.
(b)  Signing authority in any account located outside India;


(c)  Claimed any tax relief under Section 90, 90A or 91;


(d)  Income exceeding Rs. 5,000 which is not chargeable to tax. In other words, if assessee claims exemption in respect of any income under Section 10, 10A, 10AA, etc.
Audit Report
Mandatory e-filing of audit reports
No such requirement
E-filing of following audit reports shall be mandatory in following cases:
(a)  Audit report under Sec. 44AB in respect of books of account;
(b)  Audit report under Sec. 92E in respect of international transaction; or
(c)  Audit report under Sec. 115JB in respect of MAT computation.
Mandatory e-filing of return
Mandatory e-filing of return if income exceeds Rs. 5,00,000 or assessee claims tax relief
It is mandatory for an individual or an HUF to e-file the return of income if its total income exceeds Rs. 10,00,000
(a)  It is mandatory for every person (not being a co. or a person filing return in ITR 7) to e-file the return of income if its total income exceeds Rs.5,00,000
(b)  Every person claiming tax relief under Section 90, 90A or 91 shall file return in electronic mode.
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