Nearly 45,000 people file their returns on Monday
BANGALORE: It is that time of the year again. No, no, not Deepavali or Christmas but the time to calculate your income and see how much you owe the State or vice-versa.
The scene at the Central office of the Income Tax (IT) department resembled a mela on Monday, a day before the deadline for filing tax returns. In the midst of the crush, people sat around under trees, on chairs, on their haunches, on the ground even, filling up forms. Some impatiently waited in long queues while others anxiously milled around trying to find the right counter.
“Most people do not get their Permanent Account Number (PAN) card, which is why they have to stand in two queues, to get their PAN number verified and then to file the returns,” S. Gayathri, Public Relations Officer, IT Department.
Do not forget to fill in your employer’s Tax Deduction Account number (TAN), which makes it easier to access the tax credits due to you.
If you are claiming a refund, then quote your bank account number and if you want the refund through Electronic Clearing System (ECS), then you must fill in that nine digit MICR code (Magnetic Ink Character Recognition), says Ms. Gayathri.
But of course, the most important requirement is having a PAN number, without which you cannot even file your returns. If you do not have this unique national identity number, get one through UTI or NSDL.
You can file your tax returns online too. Started with the purpose of targeting the ubiquitous software professional, nearly 3,000 people have availed themselves of the facility, says Ms. Gayathri. Click on www.incometax-
While it is mandatory for firms and corporate enterprises with a turnover of Rs. 40 lakh to file the returns online, individuals can also access the facility. Once you have filed it online, you need to go to the IT office and file an ITR-verification form within the next 15 days, which can be even after July 31.
“The most number of questions relate to which form must people fill in. This is because we have eight different kinds of forms this year. People must use a form based on the category they fall under,” says Ms. Gayathri.
As many as 1.95 lakh people filed their returns till Sunday, starting April 1, 2007. But on Monday, nearly 45,000 people filed the returns, she says. More than a lakh are expected to file their returns on Tuesday.