Transcript Presentation-1 - ICAI | Online Web TV

Presentation on e-Filing of Audit Reports
Webcast to ICAI Members 29th August , 2013
New E-Filing Portal
Went LIVE on 9th Nov 2012
New Features of E-filing Portal
Online Filing: ITR 1 online is new. ITR 4S is under development and will
be implemented soon
Pre-Fill- Personal and Tax Information can be pre-filled in the Income
Tax Return.
e-Filing History – Assessee can view all the ITRs filed by him
electronically. Assessee can view (take a print) of XML, ITR-V/ITR-V
receipt and the Return itself
Forms Other than ITR – can be filed by tax payer/CA/Deductor as the
case may be ICAI a stake holder
Additional Web Services – ERIs /External Agencies (MCA, CBEC,
DGFT, CBI, FIU)
Call Center
SMS and email alerts
Opt for Higher Security - for additional secured login
Helpdesk Module for raising queries relating to e-Filing
e-filing: Year Wise Growth
Growth of e-returns
F.Y.
Number of e-Returns
(in lakhs)
2006-07
3.62
2007-08
21.7
2008-09
48.31
2009-10
50.74
2010-11
90.50
2011-12
164.33
2012-13
218.86
Total
3.45 crore taxpayers are now
registered for e-filing.
Total 2.14 crore e-Returns filed in FY
2012-13 compared to 1.64 crore in FY
2011-12, and increase of 30.7%.
So far 1.38 Crore returns received in FY
2013-14 an increase of 65%
In FY 2012- 13 78% of e-returns are from
voluntary category.
Summary on e-Returns submitted
FY 2012-13
increase over FY
2011-12
(In Lacs)
FOR
M
AY
201213
<AY
201213
TOTA
L
FY
TOTA
L DSC
TOT
AL
44A
B
cases
ITR-1
58.16
5.94
64.10
0.25
ITR-2
19.88
2.53
22.41
ITR-3
5.61
0.65
ITR-4
64.52
ITR4S
TOT
AL
RET
DSC
-
44.4%
43.0%
0.42
-
26.3%
37.5%
6.26
0.59
-
19.8%
25.1%
13.21
77.73
13.28
12.06
15.8%
15.0%
23.69
5.79
29.48
0.17
-
80.9
%
77.6%
ITR-5
7.83
0.69
8.51
4.78
4.23
11.3%
13.7%
6.1%
ITR-6
5.93
0.45
6.38
6.20
6.21
7.6%
8.0%
7.9%
TOT
AL
185.62
29.25
214.87
25.68
22.50
30.7
%
14.0%
8.1
%
44A
B
8.9%
e-Filing - Background
This is the New Portal
Went LIVE on 9th Nov 2012
Uploads –
1. Income Tax Returns (ITRs)
2. Forms Other than ITRs
3. TDS Statements - To be developed
4. Annual information Returns (AIR) - To be developed
e-Filing - Background
Front end for CPC
a) Status of returns – Processing/Demand/Refund
b) Rectification uploads and status after processing
c) Refund Re-issue Request
d) Request for Intimation u/s 143(1) and 154
e) Outstanding Tax Demands
f) Tax Credit Mismatch Summary
g) View Form 26AS
h) ITR-V Receipt Status
e-Filing - Additional Services
Offline Filing – Tax Payer can submit tax returns using excel utility
preparation (All ITRs except ITR 7, which is yet to be developed)
Online Filing – ITR 1 and ITR 4S are online.
Pre-Fill- Personal and Tax Information can be pre-filled in the Income
Tax Return.
e-Filing History – Assessee can view all the ITRs filed by him
electronically. Assessee can view (take a print) of XML, ITR-V/ITR-V
receipt and the Return itself
Forms Other than ITR – can be filed by tax payer/CA/Deductor as the
case may be
e-Filing - Additional Services
contd…
Additional Web Services –
1. ERIs
2. External Agencies (MCA, CBEC, DGFT, CBI, FIU)
Call Center - Toll free number for calls, emails on e-Filing
queries/Reset of password
a)64 agents operational 24/7 during peak months
b)45 agents operational 9am to 8pm (Monday to Saturday) during nonpeak months
SMS and email alerts
Opt for Higher Security - for additional secured login
Helpdesk Module for raising queries relating to e-Filing
e-Filing – New User s Practicing Members of ICAI
Issues Raised by ICAI (General)
Issue
Date of Receipt of Audit
Report (Whether Date of
filing by CA or date of
Acceptance by Assessee)
Mismatch between PAN
date of Birth and Date of
Birth in ICAI database
DSC May be dispensed with
Resolution
While Audit Report will
become valid on acceptance
by Assessee, Date of upload
would be treated as date of
filing
PAN Correction is the
correct resolution
Not acceptable.
10/19/1
Issue
As per ICAI’s Council
Guidelines the Firm
Registration Number (FRN)
and the name of the firm
with which he/she is
associated, has to be
mentioned in all audits.
However, there is no such
requirement in Form No.
3CA/3CB & 3CD
Resolution
The field for Capturing FRN
will be added in the
verification for the CA.
In Reports filed so far where
the FRN was not captured
procedure shall be intimated
10/19/1
Issues
Resolution
Guidance Note on tax audit ICAI had suggested that
u/s 44AB of the Income-tax
separate column may be
Act, 1961” requires
the tax
created with the clause
in Para 3 of Form No. 3CA/ Para 3(a) of Form
auditor to mention
itself; this would require a
No.3CB, his
observations/reservations, if change in the form by TPL.
any, in respect of various
More space is being created.
clauses of Form No.3CD in
A sub Committee of ICAI
Form No.3CD itself for the
and ITD examining the
ease of the AOs
additional space in Para 3
of Form No. 3CA/ Para
3(a) of Form No.3CB,
10/19/1
Issues
Resolution
Word limit has been fixed for More space is being created.
reporting in the e-filing
A sub Committee of ICAI
schema like under
each
and ITD examining the
in Para 3 of Form No. 3CA/ Para 3(a) of Form
clause of Form
no. 3CD limit additional space
No.3CB,
is set at 100, for observations requirements
and comments the limit is
fixed at 1000/2000, for
ratios and computation
thereof the limit is 30
10/19/1
Issues
Resolution
Capturing Signatures of
ICAI pointed out that only
More than one CA in the
in the case of disagreement
Capturing Signatures of More than one CA in
instance of joint
Audits.
would two separate reports
the
instance
of joint
in Para
3 of Form
No.Audits.
3CA/ Para 3(a) of Form
be
required to be filed. Thus
According
to the
in case joint Auditors
Revised AuditNo.3CB,
Reports
to institute
be
more
audit report
disagree there may be more
than than
one Audit
enabled
under DSC of different CAs
are enabled
Revised Reports can be filed
10/19/1
Issues
Resolution
ICAI wanted validations to
be built in into various fields
such as limits under Chapter
VI A or where certain
deductions can be claimed by
Assessees of certain status.
While the general feeling is
that the CA's should
themselves exercise caution,
certain validations are being
developed based on the
recommendations of the
sub-committee
10/19/1
Issues
Resolution
In the Java format of e-filing While print option
tax audit reports, it is
available post
observed thatinthe
user is not upload/approval of
Para 3 of Form No. 3CA/ Para 3(a) of Form
able to take print
out of the
Forms. The XML can be
No.3CB,
filled in forms before or after imported into the
uploading the same in the e- Forms to check the
filing portal
correctness of the
particulars keyed in
before upload. The
suggestion is being
examined
10/19/1
Issues
Resolution
The facility of import of data For ITD to Provide
form multiple formats (Excel import facility for
etc) should beincreated
to
multiple formats may
Para 3 of Form No. 3CA/ Para 3(a) of Form
prevent tedious
data entry/
not be viable. ICAI/
No.3CB,
dta entry errors especially
ERIs can consider
with regards to depreciation working on such
schedule and other large
Utilities. However a
schedules
standard CSV format
for Depreciation
schedule shall be made
available to permit
import
10/19/1
Issues
Resolution
• CA s could not view clients
Have been resolved
•There were issues with regards
in Para 3 of
to upload of 20MB/
50Form
MBNo. 3CA/ Para 3(a) of Form
No.3CB,
•Erasure of certain clauses
particularly, the data entered in
clauses 7(b), 8(b), 9(a) & 10 after
saving
•Special characters disabling
•Companies prior to 1913
10/19/1
Issues
Resolution
In case of partnership firm,
Consciously a decision
the total of profit sharing
has been taken not to
ratio of all partners
is equal
put any validation in
in Para 3 of Form No. 3CA/ Para 3(a) of Form
to 100%. The No.3CB,
user should not the Audit Report as it is
be allowed to fill in further
not being processed.
information if the total of
profit sharing ratio is less
than 100%
10/19/1
Issues
Resolution
17- Separate disclosure
While a change in the
for different nature of
form is being suggested
disallowance
is not
to TPL
in Para 3 of Form No. 3CA/ Para 3(a) of Form
possible
No.3CB,
Increasing space for
Under this clause only single remarks at the end of
amount of disallowance can the form is being
be specified in sub-clauses
worked out subject to
17(a)/ (b)/ (c)/ (d)/ (e)/ (f).
overall limit of 50MB
10/19/1
Issues
Resolution
•PAN to not be a mandatory
field in the 206A cases
These issues stand
resolved.
in Para in
3 ofcase
Form No.
•No order number
of 3CA/ Para 3(a) of Form
No.3CB,
brought forward
loss
reference order
PDF documents/ Text or
•Difficulty in uploading
Excel documents can be
scanned P&L accounts and
uploaded. Working on
balance sheets
convergence with MCA
10/19/1
Thank You
e-Filing Team