In India every year around 9 crore people file and pay taxes to the income tax department. But with the digitally changing world, everything has come over the internet, and people can e-file now. However, this shift online also presents new challenges, with identity theft and document misuse becoming growing concerns.
This is where digital signature comes in. It is an important tool approved by the Income Tax Department to protect you from fraud. This is an online stamp that makes sure your e-filings are safe and authentic.
Types of Income Tax Filings
• ITR-1 (Sahaj): For individuals with income up to ₹50 lakh from salary, one house property, and agricultural income up to ₹5,000.
• ITR-2: For individuals and HUFs with income from salary, more than one house property, capital gains, foreign assets, etc.
• ITR-3: Applicable to individuals and Hindu Undivided Families (HUFs) earning income from a business or profession.
• ITR-4 (Sugam): Designed for individuals, HUFs, and firms (excluding LLPs) with total income up to ₹50 lakhs from business and profession under Sections 44AD, 44ADA, or 44AE.
DSC for Income Tax
A Digital Signature Certificate (DSC) for income tax e-filing is a secure electronic verification tool issued by a licensed
Capricorn CA - Certifying Authority. It ensures the authenticity and integrity of documents submitted online to the Income Tax Department. By using a DSC, taxpayers can electronically sign income tax returns, tax audit reports, and other related documents.
Furthermore, it facilitates secure and legally binding transactions over the Internet. This is essential for ensuring compliance with electronic filing requirements under the Information Technology Act, of 2000.
Income Tax Pan Login
To log in for income tax e-filing in India, follow these steps:
1. Go to the official e-filing portal of the Income Tax Department.
2. Find the "Login Here" button on the homepage.
3. Enter your PAN in the "User ID" field. It serves as your User ID for login purposes.
4. Enter your password in the space provided.
5. Fill in the captcha code shown on the screen for security verification.
6. Click the "Login" button to sign in to your e-filing account.
7. Once logged in, you'll be directed to your e-filing dashboard where you can manage your taxes.
Track Aadhaar Status on Income Tax e-Portal
• Go to the official income tax e-portal.
• Login to your account by using your User ID and password.
• Go to profile settings under the “My Account” tab.
• Look for an option "Link Aadhaar" or "Aadhaar Linking Status".
• Click on it to see if your Aadhaar is linked to your PAN.
• The status will show "Linked" or "Successful" if it is linked.
Reset Income Tax Return (ITR) Login Password
Yes, you can reset your income tax return login password, by following these simple steps:
1. Go to income tax e-portal.
2. Below the login section, click on "Forgot Password".
3. Enter your permanent account number and click "Continue".
4. Select how you want to reset your password:
• Answer secret questions that were set up previously.
• Obtain OTP on your registered mobile number and email.
• Use Aadhaar OTP which was linked with PAN.
5. Depending on your choice, follow the on-screen instructions to complete the password reset process.
6. Create a new password for your e-filing account.
7. Use your new password to log in to the Income Tax e-filing portal.
What is TRACES?
TDS Reconciliation Analysis and Correction Enabling System (TRACES) is an online platform launched by the
Income Tax Department of India. It primarily deals with the administration of TDS (Tax Deducted at Source) and related activities.
What do TRACES do?1. TDS Administration:Allows deductors to verify TDS certificates (Form 16/16A) issued by them.
Enables correction of TDS returns filed with the Income Tax Department.
Provides details of tax deposited against TDS.
2. Services Available:Provides taxpayers with their annual consolidated tax statement, showing TDS details.
Facilitates verification of PAN details against the ITD database.
3. User Access:Access to TRACES is typically granted to deductors (employers, banks, etc.), taxpayers, and authorized intermediaries such as CA firms.
Benefits of TRACES:• Transparency: Provides real-time access to TDS-related information for deductors and taxpayers.
• Accuracy: Facilitates correction of errors in TDS returns, ensuring compliance with tax laws.
• Efficiency: Reduces paperwork and manual processing through online services.
How to Use TRACES?
• Register on the TRACES portal to access its services.
• After completing your registration, use the provided credentials to sign in.
• Navigate through View Form 26AS, Submit TDS Corrections, Download Certificates, etc.
• Download TDS certificates (Form 16/16A), Form 26AS, and other relevant documents.
• Use utilities to file corrections for TDS returns, verify PAN details, and view challan status.
Conclusion
Individual Digital signature for e-filing represents an important advancement in tax administration. It is a crucial step towards secure and efficient online tax fulfillment. This simplifies the digital signing process of
income tax returns and enhances data security.
