What are the Modes of Filing Return of Income

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  • Last Updated on 18 December, 2020

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Return of income can be filed in paper mode or in e-filing mode. If return of income is filed through electronic mode, then the assessee has following three options:
 
(1) E-filing using a Digital Signature
 
(2) E-filing without a Digital Signature
 
(3) E-filing under electronic verification code
 
If return of income is filed using a digital signature or under electronic verification code, then there is no requirement of sending the signed copy, ITR V (i.e., acknowledgement of return filed electronically) to Bangalore CPC. 
 
However, if the return is filed without using digital signature or without electronic verification code, the assessee shall send the signed copy of ITR V on the following address within 120 days of uploading the return either by ordinary post or by speed post only:
 
Income Tax Department – CPC, Post Bag No.-1, Electronic City Post Office, Bangalore -560100, Karnataka 
 

Read also: Link Aadhaar with your PAN for e-Filing Income Tax Return 

When Is It Mandatory to File Return of Income?

It is mandatory for a company and a firm to file its return on income. However, for an individual, HUF, association of persons and body of individuals it is mandatory to file return of income if his/its gross total income (without giving effect to provisions of section 10(38)1 section 10A or section 10B or section 10BA or Chapter VI-A deduction) exceeds the maximum exemption limit. 
 
The maximum exemption limit and the slab rates for Assessment Year 2017-18 are given in the following table:
 

Class of persons

Tax slab (Amount)

Tax rate

Resident senior citizen (aged 60 years and above but less than 80 years)

Up to Rs. 3,00,000

Nil

Rs. 3,00,000 to Rs. 5,00,000

10%

Rs. 5,00,000 to Rs. 10,00,000

20%

Above Rs. 10,00,000

30%

Resident super senior citizen (aged 80 years or above)

Up to Rs. 5,00,000

Nil

Rs. 5,00,000 to Rs. 10,00,000

20%

Above Rs. 10,00,000

30%

Any other individual or HUF (i.e., other than above)

Up to Rs. 2,50,000

Nil

Rs. 2,50,000 to Rs. 5,00,000

10%

Rs. 5,00,000 to Rs. 10,00,000

20%

Above Rs. 10,00,000

30%

 

 
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