A

PROJECT REPORT
ON

“INCOME-TAX RETURN AND E-FILING PROCESS IN ACCURATE

CONSULTANCY”

FOR
ACCURATE CONSULTANCY

SUBMITTED TO
SAVITRIBAI PHULE PUNE UNIVERSITY
IN PARTIAL FULLFILMENT OF TWO YEARS FULL TIME
MASTERS DEGREE IN BUSINESS ADMINISTRATION (MBA)

SUBMITTED BY
CHINMAY KAMBALE
(BATCH – 2021-23)

GUIDED BY
PROF._______________

JSPM’s
JAYAWANTRAO SAWANT COLLEGE OF ENGINEERING
MBA DEPARTMENT
HADAPSAR, PUNE- 411028
COLLEGE CERTIFICATE:
COMPANY CERTIFICATE:
 ACKNOWLEDGEMENT

It is my privilege to express gratitude & sincere thanks to JSPM’s Jayawantrao Sawant

College of Engineering, MBA Department, Hadapsar, Pune for giving me an opportunity to
undertake the summer internship project report on the topic “Income-Tax Return And E-
Filing Process In Accurate Consultancy.”

I express sincere thanks to my project guide, Mr./Dr./Ms./Mrs. …, (Designation)…………..

(Department), for guiding from the inception till the successful completion of the project.

I sincerely acknowledge him/her for extending his/her valuable guidance, support for
literature, critical reviews of projects & researches and above all the moral support he/she
provided to me at all stages of this project.

(Signature of Student)
Chinmay Kambale
MBA (Batch 2021-2023)
 DECLARATION

I, Chinmay Kambale, studying in the second year of Master of Business Administration

(MBA) at Jayawantrao Sawant College of Engineering (MBA Department), Hadapsar,
Pune, hereby declare that I have completed the Summer Internship Project titled “Income-
Tax Return And E-Filing Process In Accurate Consultancy” as a part of the course
requirements for Master of Business Administration (MBA) Program.

I also declare that the work undertaken by me is original and has not been copied from any
other source. I further declare that the information presented in this project is true and
original and has not been submitted to JSCOE or any other Institute for any other
examination, before this. It is based on the original research work and will be used only for
the academic purpose. It will not be produced in any condition as a source of information to
an industry.
Date: Signature
Place: Chinmay Kambale
MBA (Batch 2021-
2023)
 EXECUTIVE SUMMARY:
Chapter 1:
Chapter 1 is about Introduction on Income Tax Return and E-filing process.

Chapter 2:
Chapter 2 is about Research objectives & Scope of the study.

Chapter 3:
Chapter 3 included sector profile , company profile & product profile.

Chapter 4:
In this research project chapter 4 contains information about the review of literature. This
chapter is various past research of well-known researchers is included which gives and
frame work for project report.

Chapter 5:
Chapter 5 is about Research Methodology includes, Source of data collection, Research
design, Sample size, Sampling techniques & etc.

Chapter 6:
This chapter is all about Data Analysis and Interpretation.

Chapter 7, 8 & 9:
The Findings, Suggestions and Limitation of the study are presented in chapter 7, 8 & 9.

Chapter 10 & 11:

Chapter 10 & 11 presents the overall project's conclusion, bibliography, and annexure.
 INDEX:
Chapter Particulars Page No.
Chapter 1 Introduction
Chapter 2 Objectives & Scope of the project
Chapter 3 3.1 Sector Profile
3.2 Company Profile
3.3 Product Profile
Chapter 4 Theoretical Background
Chapter 5 Research Methodology
Chapter 6 Data Analysis & Interpretation
Chapter 7 Findings
Chapter 8 Recommendations / Suggestions
Chapter 9 Limitations of the project
Chapter 10 Conclusion
Chapter 11 Bibliography
Annexure

Chapter 1
 INTRODUCTION

Income Tax Return

India's Income Tax Laws are framed by the Government The Government imposes a tax
on taxable income of all persons who are individuals, Hindu Undivided Families (HUF's),
companies, firms, LLP, association of persons, body of individuals, local authority and any
other artificial juridical person. According to these laws, levy of tax on a person depends
upon his residential status. Every individual who qualifies as a resident of India is required
to pay tax on his or her global income. Every financial year, taxpayers have to follow
certain rules while filing their Income Tax Returns (ITRs).
An Income tax return (ITR) is a form used to file information about your income and tax
to the Income Tax Department. The tax liability of a taxpayer is calculated based on his or
her income. In case the return shows that excess tax has been paid during a year, then the
individual will be eligible to receive a income tax refund from the Income Tax Department.

As per the income tax laws, the return must be filed every year by an individual or business
that earns any income during a financial year. The income could be in the form of a salary,
business profits, income from house property or earned through dividends, capital gains,
interests or other sources.

Tax returns have to be filed by an individual or a business before a specified date. If a

taxpayer fails to abide by the deadline, he or she has to pay a penalty. 

Income Tax Returns, often known as ITRs, are forms used to declare net tax liabilities,
claim tax deductions, and report gross taxable income. Individuals who make a specific
amount of money are required to file IT returns.

Firms or corporations, Hindu Undivided Families (HUFs), and self-employed or salaried

individuals are required to file an ITR with the Income Tax Department of India.

Process for ITR Filing

You can file the ITR by going to the Income Tax Department's official website. However,
before you can file the IT Return online, you must first register. The Government of India's
Income Tax Department (ITD) has recently revised the web platform for the e-filing of
income tax returns.

The redesigned portal simplifies the e-filing process, which can be completed by following
the steps outlined below-

Step 1: Determine your income tax liability using the procedures outlined in the Income
Tax Rules.

Step 2: Refer to your Form 26AS for a summary of your TDS payment for each quarter of
the assessment year.

Step 3: Based on the eligibility requirements provided by the Income Tax Department
(ITD), you must determine which group you will fall into.

Step 4: Go to the income tax department's official e-filing portal at e-Filing Home Page,
Income Tax Department, Government of India
([Link]

Step 5: If you are a first-time user, you can register by clicking the 'Register' button.

Step 6: If you have previously registered on the site, you may simply click the 'Login'
option.

Step 7: Under the 'e-file' menu, select the 'File Income Tax Return' option.

Step 8: From the website's list, select the category that applies to you - individual, Hindu
Undivided Family (HUF), and so on.

Step 9: Select the appropriate ITR Form for your situation.

Step 10: You will also need to enter your bank account information. If you have previously
submitted the same information, you will be requested to pre-validate the information.
Step 11: You will then be transported to a new online page where you may see the pre-
filled details of your ITR. Check the details and make any necessary adjustments. Once you
are certain that all of the relevant data in the form is right, confirm and validate it.

Step 12: When the process is finished, verify the returns and mail a hard copy to the Income
Tax Department.

E-Filing:

E-filing is the short form of electronic filing of income taxes. E-filing is when you
electronically file your income tax returns online for a particular year. This means you no
longer need to visit the nearest Income Tax Department's office to file your returns
physically. Instead, you log onto the internet and do the job.

3 ways to do E-filing

There are three basic ways to file income tax returns electronically.

First option - You can use a Digital Signature Certificate (DSC) to e-file. A DSC is a useful
way of electronically signing documents, because it is the digital equivalent of physical or
paper certificates.

The second option - You can e-file without a DSC. In this case, 'Income Tax Return–
Verification' or ITR-V form is generated which is a one-page document. In case Aadhar
details are not updated on Income Tax site, the form should be printed, signed and
submitted to Central Processing Centre (CPC), Bangalore via post within 120 days from the
date of e-filing.

The third option - You can e-file income tax return without DSC and verify it with Aadhar
number or through a bank. In this case, ITR-V is not required be to submitted to CPC.

As per section 139(1) of the Income Tax Act, 1961 in the country, individuals whose total
income during the previous year exceeds the maximum amount not chargeable to tax,
should file their income tax returns (ITR).The process of electronically filing income tax
returns is known as e-filing. The filing of returns can be done in two ways – one is the
conventional offline route which requires you to visit the office of the Income Tax
Department and doing it manually, and the other is to file the returns on the internet. E-
filing has been gaining a lot of popularity in recent years thanks to advancements in
technology. E-filing is also relatively easier in comparison with offline filing as it doesn’t
involve tedious paperwork and can be done from the comfort of your home.
 Chapter 2
OBJECTIVES & SCOPE OF THE PROJECT:

2.1 Research Objectives:

 To assess the perception and awareness of tax-payers towards e-filing of income tax
returns. 
 To study the satisfaction level of tax-payers towards e-filing of income tax returns. 
 To know about the online process of filing ITR or e-filing.
2.2 Scope of the study:
The scope of a study explains the extent to which the research area will be explored in the
work and specifies the parameters within the study will be operating.
 All respondents may not give correct answers; the answer may vary according to their
mood and the technology given to them. 
 The answer given by the respondent can also reflect by accommodations given to them,
work load and other aspects. For example, if the respondent has been given good
accommodations to use like latest computer with comfortable chair with latest gadget
like computer and with 4g speed net in a comfortable environment, the respondent may
feel easy to file income tax return thus respondent will give positive response and vice
versa. 
 The respondents may not give answer what is actually in their mind due to shy or any
other feelings also the interviewee may not be interested in our questions or research.
 The respondent may not have detail knowledge about our topic which can affect our
research.
 Chapter 3

3.1 Sector/Industry Profile

3.1.1 Income Tax in India: Guide, IT Returns, E-filing Process

Taxes in India can be categorized as direct and indirect taxes. Direct tax is a tax you pay on
your income directly to the government. Indirect tax is a tax that somebody else collects on
your behalf and pays to the government such as restaurants, theatres and e-commerce
websites recover taxes from you on goods you purchase or a service you avail. This tax is,
in turn, passed down to the government. Direct Taxes are broadly classified as:
1. Income Tax – This is taxes an individual or a Hindu Undivided Family or any taxpayer
other than companies, pay on the income received. The law prescribes the rate at which
such income should be taxed.
2. Corporate Tax – This is the tax that companies pay on the profits they make from their
businesses. Here again, a specific rate of tax for corporates has been prescribed by the
income tax laws of India.

3.1.2 Income Tax Basics

Everyone who earns or gets an income in India is subject to income tax. (Yes, be it a
resident or a non-resident of India). Also read our article on Income Tax for NRIs. Your
income could be salary, pension or could be from a savings account that’s quietly
accumulating a 4% interest. Even, winners of ‘Kaun Banega Crorepati’ have to pay tax on
their prize money. For simpler classification, the Income Tax Department breaks down
income into five heads:
Head of Income Nature of Income covered
Income from Salary Income from salary and pension are covered under here
Income from salary and Income from savings bank account interest, fixed deposits,
pension are covered under winning KBC
here
Income from House This is rental income mostly
Property
Income from Capital Gains Income from sale of a capital asset such as mutual funds,
shares, house property
Income from Business and This is when you are self-employed, work as a freelancer or
Profession contractor, or you run a business. Life insurance agents,
chartered accountants, doctors and lawyers who have their
own practice, tuition teachers

3.1.3 Taxpayers and Income Tax Slabs

Taxpayers in India, for the purpose of income tax include: 
Individuals, Hindu Undivided Family (HUF), Association of Persons (AOP) and Body of
Individuals (BOI) 
Firms 
Companies

Each of these taxpayers is taxed differently under the Indian income tax laws. While firms
and Indian companies have a fixed rate of tax of 30% of profits, the individual, HUF, AOP
and BOI taxpayers are taxed based on the income slab they fall under. People’s incomes are
grouped into blocks called tax brackets or tax slabs. And each tax slab has a different tax
rate. In India, we have four tax brackets each with an increasing tax rate.
Income earners of up to 2.5 lakhs 
Income earners of between 2.5 lakhs and 5 lakhs 
Income earners of between 5 lakhs and 10 lakhs 
Those earning more than Rs10 lakhs

Income Range Tax rate Tax to be paid

Up to Rs.2,50,000 0 No tax
Between Rs.2.5 lakhs and 5% 5% of your taxable income
Rs.5 lakhs
Between Rs.5 lakhs and 20% Rs.12,500+ 20% of income
Rs.10 lakhs above Rs.5 lakhs
Above 10 lakhs 30% Rs.1,12,500+ 30% of income
above Rs.10 lakhs
This is the income tax slab for FY 2017-18 for taxpayers under 60 years. There are two
other tax slabs for two other age groups: those who are 60 and older and those who are
above 80.
A word of note: People often misunderstand that if they earn let’s say Rs.12 lakhs, they will
be paying a 30% tax on Rs.12 lakhs i.e. Rs.3, 60,000. That’s incorrect. A person earning 12
lakhs in the progressive tax system, will pay Rs.1, 12,500+ Rs.60, 000 = Rs.1, 72,500.

3.1.4 Exceptions to the Tax Slab

One must bear in mind that not all income can be taxed on slab basis. Capital gains income
is an exception to this rule. Capital gains are taxed depending on the asset you own and how
long you’ve had it. The holding period would determine if an asset is long term or short
term. The holding period to determine nature of asset also differs for different assets. A
quick glance of holding periods, nature of asset and the rate of tax for each of them is given
below.
Type of capital asset Holding period Tax rate
House Property Holding more than 24 20% Depends on slab rate
months – Long Term
Holding less than 24 months
– Short Term
Debt mutual funds Holding more than 36 20% Depends on slab rate
months – Long Term
Holding less than 36 months
– Short Term
Equity mutual funds Holding more than 12 Exempt (until 31 March
months – Long Term 2018) Gains > Rs.1 lakh
Holding less than 12 months taxable @ 10% 15%
– Short Term
Shares (STT paid) Holding more than 12 Exempt (until 31 March
months – Long Term 2018)Gains > Rs1 lakh
Holding less than 12 months taxable @ 10% 15%
– Short Term
Shares (STT unpaid) Holding more than 12 20% As per Slab Rates
months – Long Term
 Holding less than 12 months
– Short Term
FMPs Holding more than 36 20% Depends on slab rate
months – Long Term
Holding less than 36 months
– Short Term

3.1.5 Income Tax Return (ITR)

A tax return is defined as a form or different types of forms filed with a taxing authority
which reports income, expenses, and other pertinent tax information. Tax returns make it
simple for taxpayers to calculate their tax liability, schedule tax payments and request
refunds for the overpayment of taxes. All taxpayers who are filing their income tax returns
are required to determine the type of income tax return (ITR) form they need to fill before
actually filing their returns. The form to be filled is solely dependent on the income that the
taxpayer earns or in certain cases if the taxpayer holds assets in a country other than India or
earns any form of income from a country other than India.

Different types of ITR forms

In total, there are almost 9 types of ITR forms available for a tax payer to file his taxes.
However, only the following forms are to be taken into consideration by individuals when
filing returns as per the Central Board of Direct Taxes in India:
ITR-1 
ITR-2 
ITR-2A 
ITR-3 
ITR-4 
ITR-4S

The following income tax return forms are applicable only for companies and firms:
ITR-5 
ITR-6 
ITR-7
1. ITR-1
Also known as the Sahaj form, this income tax return form is to be filed solely by an
individual taxpayer. Any other assesse liable to pay tax is not eligible to avail of this form
for filing their returns. This form is applicable for the following people:
 A person who earns his income via salary or through other means such as pension 
 A person who earns his livelihood from a single housing property 
 An individual who has no income from no other business or who have no income from
the sale of any assets i.e. capital gains 
 Individuals who do not own any assets or property in countries apart from India  An
individual who has no source of income from any country outside India 
 A person whose income from agriculture is below Rs.5,000 
 A person whose source of income is from various investments or sources like
investments, schemes or fixed deposits etc. 
 Individuals who have not earned income from any windfall such as lotteries, horse
racing etc. 
 People who want to accumulate their spouse’s or underage child’s income with their
own, as long as the income to be clubbed is in accordance with the criteria mentioned
above.

2. ITR-2A
Introduced in the assessment year 2015-16, The ITR-2A form is a new income tax return
form. This form can be used by a Hindu Undivided Family (HUF) or an individual
taxpayer. The ITR-2A form is applicable for the following people:
 People whose source of income i through salary or through means such as pension 
 People who are also earning income from more than one housing property  A person
who has no income from any other business or who have no income from the sale of
any assets i.e. capital gains 
 People who tend to earn income from different investments or sources such as Fixed
Deposits, Investments, and Shares etc. 
 A person who does not own any property or assets in countries other than India 
 A person who does not have a source of income from any country outside India 
 A person whose income from agriculture is below Rs.5,000 
 Individuals who have not earned income from any windfall such as lotteries or horse
racing

3. ITR-2
The ITR-2 Form is a type of ITR form which is generally used by individuals who have
accrued income through the sale of assets or property. Also, this form is useful for
individuals who earn income from countries outside India. In most cases, individuals or
Hindu Undivided Families (HUF) can avail of this form to file their IT returns. This form is
applicable for the following persons:
 People who earn income through salary or through means such as pension
 A person whose source of income is through the sale of assets or property in India i.e.
capital gains 
 A person who tends to earn income from more than one housing property  People
who don’t earn money from any business venture 
 A person who own assets in countries outside of India 
 People who earn income from countries outside of India 
 A person whose income from agriculture is above Rs.5,000 
 A person who gets his income from any windfall like lotteries or horse racing

4. ITR-3
The ITR-3 Form is useful for an individual taxpayer or a Hindu Undivided Family, who
solely operates as a partner in a firm but who do not conduct any business under the firm.
This is also applicable for individuals who do not earn any income from the business
conducted by the firm. This form is usually filed by those taxpayers whose taxable income
earned from business is only in the form of the following:
 Salary 
 Commission 
 Bonus 
 Interest 
 Remuneration

5. ITR-4
This type of ITR form is useful for those individuals who conduct a business or who earn
income through a profession. This form is applicable for all types of businesses,
undertaking or profession, without any limit on the income earned. Taxpayers can also club
any income they receive from windfalls, speculation, salaries, lotteries, housing properties
etc., along with the income earned from their business. An individual with any profession,
right from shopkeepers, doctors or designers to agents, retailers and contractors, is eligible
to file their ITR using this form.

6. ITR-4S
Also known as Sugam form, the ITR-4S form can be used by any individual or Hindu
Undivided Family (HUF) for filing their income tax returns. This form is applicable for the
following persons: 
 Individuals who earn income from any business 
 Individuals who earn income from a single housing property 
 Individuals who do not earn income through the sale of assets or property in India i.e.:
capital gains 
 Individuals whose income from agriculture is below Rs5,000 
 Individuals who do not own any assets or property in countries other than India 
 Individuals who do not earn income from any country outside India

This form is useful in special circumstances and is applicable to businesses where any
income earned is based on a presumptive method of calculation.

7. ITR-5
The ITR-5 form is used only by the following bodies to file income tax returns: 
 Firms 
 Limited Liability Partnerships (LLPs) 
 Body of Individuals (BOIs) 
 Association of Persons (AOPs) 
 Co-operative Societies 
 Artificial Judicial Persons 
 Local Authorities

8. ITR-6
Except those companies or organisations that claim tax exemption as per Section 11, the
ITR-6 form is used only by all companies. Organisations that can claim tax exemptions as
per Section 11 are organisations in which the income received is accumulated from the
property used for the purpose of religion or charity. This particular income tax return form
is only available to be filed online.

9. ITR-7
Those individuals or companies that are required to submit their returns under the following
sections are required to file their income tax returns through ITR-7:
 Section 139(4A) - Under this section, returns can be filed by individuals who receive
income from any property that is held for the purpose of charity or religion in the form
of a trust or legal obligation 
 Section 139(4B) - Under this section, returns are to be filed by political parties provided
their total income earned is above the non-taxable limit Section 139(4C) - Under this
section, returns are to be filed by the following entities: 
 Any institution or association mentioned under Section 10(23A) 
 Any association involved with scientific research 
 Any institution mentioned in Section 10(23B) 
 Any news agency 
 Any fund, medical institution or educational institution 
 Section 139(4D) - Under this section, returns are to be filed by entities such as colleges,
universities or any other such institution wherein income returns or loss are not required
to be provided in accordance with other provisions outlined in this section.

3.1.6 E-Filing of Income Tax Returns:

What is E-Filing?
As per section 139(1) of the Income Tax Act, 1961 in the country, individuals whose total
income during the previous year exceeds the maximum amount not chargeable to tax,
should file their income tax returns (ITR).The process of electronically filing income tax
returns is known as e-filing. The filing of returns can be done in two ways – one is the
conventional offline route which requires you to visit the office of the Income Tax
Department and doing it manually, and the other is to file the returns on the internet. E-
filing has been gaining a lot of popularity in recent years thanks to advancements in
technology. E-filing is also relatively easier in comparison with offline filing as it doesn’t
involve tedious paperwork and can be done from the comfort of your home.
Types of E-Filing:
 Use Digital Signature Certificate (DSC) to e-file. It is mandatory to file IT forms using
Digital Signature Certificate (DSC) by a chartered accountant. 
 If you e-file without DSC, ITR V form is generated, which should then be printed,
signed and submitted to CPC, Bangalore by ordinary post or speed post within 120 days
from the date of e-filing. 
 You can file e-file IT returns through an E-return Intermediary (ERI) with or without
DSC.

Who should e-file income tax returns?

Online filing of tax returns is easy and can be done by most assessees. 
 Assessee with a total income of Rs.5 Lakhs and above. 
 Individual/HUF resident with assets located outside India. 
 An assessee required to furnish a report of audit specified under sections 10(23C) (IV),
10(23C) (v), 10(23C) (VI), 10(23C) (via), 10A, 12A (1) (b), 44AB, 80IA, 80IB, 80IC,
80ID, 80JJAA, 80LA, 92E or 115JB of the Act. 
 Assessee required to give a notice under Section 11(2) (a) to the assessing officer. 
 A firm (which does not come under the provisions of section 44AB), AOP, BOI,
Artificial Juridical Person, Cooperative Society and Local Authority (ITR 5). 
 An assessee required to furnish returns U/S 139 (4B) (ITR 7). 
 A resident who has signing authority in any account located outside India.
 A person who claims relief under sections 90 or 90A or deductions under section 91. 
 All companies.

Benefits of E-Filing
E-filing is preferred to offline filing among a large number of taxpayers in India. Here are
some of the major benefits of filing your income tax returns electronically:
 Quick Processing: When you file your returns online, they will be acknowledged
promptly by the Income Tax Department. One of the major benefits of e-filing is that if
there are any refunds, they will be processed much quicker in comparison with returns
that are filed on paper.
 Convenient: You can file your returns anytime, anywhere, as long as you have a mobile
device or a laptop and an internet connection. The e-filing facility is open 24/7, making
it a way more convenient option in comparison with manual filing of returns. 
 Accuracy: The software created for the e-filing of returns comes with built-in electronic
connectivity and validations that make it seamless. The software also reduces errors to
a considerable extent. Since filing your returns manually can leave the door open to
human errors, electronic filing of returns can ensure that there are no manual errors. 
 Confidentiality: Filing your returns on paper has the potential for your details to get
leaked. Online filing of returns, however, is much safer in comparison with manual
filing as your data will not be accessible by chance or design. 
 Easy to Use: The e-filing portal has been designed in a manner such that it is really easy
to file your returns. There are detailed instructions that you can follow to ensure that the
process is completed in a smooth and hassle-free manner. 
 Proof of Receipt: Filing your income tax returns online will mean that the confirmation
will be sent to you promptly through email on your registered email address. Since the
process is automated, there will be no wastage of time in getting your confirmation. 
 Electronic Banking: In case any refunds are due to you, they will be directly deposited
to your bank account. In case you have any tax payments to make, they too will be
directly debited from your bank account. You also have the choice to file your returns
now and pay the taxes later. You can accordingly choose to instruct your bank account
and enjoy the convenience offered by the facility. 
 Accessibility: All the information regarding your past data can be accessed with
relative ease when you file your returns online. The applications ensure that the data
has been stored securely, so that it is easy for individuals to access it when filing their
returns again.

3.1.7 Documents required to file income tax

When filing your income tax online or physically, it is always a good idea to be prepared.
The below mentioned details serve as a checklist to help you get started with the e-filing of
tax returns.

General details that would be required 

 Bank account details 
 PAN Number

Reporting salary income required 

 Rent receipts for claiming HRA 
 Form 16 
 Pay slips

Reporting House Property income required 

 Address of the house property 
 Details of the co-owners along with their share in the mentioned property and PAN
details 
 Certificate for home loan interest 
 The date when construction was completed, in case an under-construction property was
purchased 
 Name and the rental income of the tenant, if the property is rented

Reporting capital gains required 

 There is a requirement of a stock trading statement with purchase details, in case there
are capital gains from selling the shares 
 If a house or property is sold, you must sought sale price, purchase price, details of
registration and capital gain details 
 Mutual fund statement details, purchase and sale of equity funds, debt funds, SIPs and
ELSS

Reporting other income required 

 The income from interest is reported. In case of interest accumulated in savings
account, bank account statements are required 
 Interest income from tax saving bonds and corporate bonds must be reported The
income details earned from post office deposit must be reported
3.2 Company Profile
Accurate consultancy
Started by swapnil hole (owner)
Started in 2017
Provide tax advice to individual, business,and organisations on various tax issues.
Provide tax information, preparing and submitting tax return, representing clients in
disputes with the tax authorities .advising on tax planning.

Tax Slab Old Tax Rates New Tax Rates

0-2,50,000 0% 0%
2,50,000-5,00,000 5% 5%
5,00,000-7,50,000 20% 10%
7,50,000-10,00,000 20% 15%
10,00,000-12,50,000 30% 20%
12,50,000-15,00,000 30% 25%
15,00,000 & above 30% 30%
3.3 Product Profile
Section 80C – Deductions on Investments 
Section 80C is one of the most popular and favourite sections amongst the taxpayers as it
allows to reduce taxable income by making tax saving investments or incurring eligible
expenses. It allows a maximum deduction of Rs 1.5 lakh every year from the taxpayers total
income. 
The benefit of this deduction can be availed by Individuals and HUFs. Companies,
partnership firms, LLPs cannot avail the benefit of this deduction. 
Section 80C includes subsections
80CCC, 80CCD (1) , 80CCD (1b) and 80CCD (2).

Section 80CCC – Insurance Premium /Section 80CCD – Pension

Contribution

Eg- If an individual is earning 10 lakh , he will be eligible to save as per slab to save tax
on 250000 , rest on 750000 , 1.5 lakh he can save tax on investments , 50000 can be saved
on NPS. Remaining 6.5 lac , if the company provides Employers contribution he will be
eligible to
Take a benefit of 10% i.e 65000.
He will have to pay on the remaining 585000

Section 80GG – House Rent Paid

Deduction for House Rent Paid where HRA is not Received
a. Section 80GG deduction is available for rent paid when HRA is not received. The
taxpayer, spouse or minor child should not own residential accommodation at the place of
employment
b. The taxpayer should not have self-occupied residential property in any other place
c. The taxpayer must be living on rent and paying rent
d. The deduction is available to all individuals

Section 80E – Interest on Education Loan

Deduction for Interest on Education Loan for Higher Studies
A deduction is allowed to an individual for interest on loans taken for pursuing higher
education. This loan may have been taken for the taxpayer, spouse or children or for a
student for whom the taxpayer is a legal guardian.
80E deduction is available for a maximum of 8 years (beginning the year in which the
interest starts getting repaid) or till the entire interest is repaid, whichever is earlier. There is
no restriction on the amount that can be claimed.

Section 80D – Medical Insurance

Deduction for the premium paid for Medical Insurance

You (as an individual or HUF) can claim a deduction of Rs.25,000 under section 80D on
insurance for self, spouse and dependent children. An additional deduction for insurance of
parents is available up to Rs 25,000, if they are less than 60 years of age. If the parents are
aged above 60, the deduction amount is Rs 50,000, which has been increased in Budget
2018 from Rs 30,000.
In case, both taxpayer and parent(s) are 60 years or above, the maximum deduction
available under this section is up to Rs.1 lakh.

Example: Rohan’s age is 65 and his father’s age is 90. In this case, the maximum deduction
Rohan can claim under section 80D is Rs. 100,000.
From FY 2015-16 a cumulative additional deduction of Rs. 5,000 is allowed for preventive
health check.

Section 80DD – Disabled Dependent

Deduction for Rehabilitation of Handicapped Dependent Relative
Section 80DD deduction is available to a resident individual or a HUF and is available on:
a. Expenditure incurred on medical treatment (including nursing), training and rehabilitation
of handicapped dependent relative
b. Payment or deposit to specified scheme for maintenance of handicapped dependent
relative.
i. Where disability is 40% or more but less than 80% – fixed deduction of Rs.75,000.
ii. Where there is severe disability (disability is 80% or more) – fixed deduction of
Rs.1,25,000.
To claim this deduction a certificate of disability is required from prescribed medical
authority.
From FY 2015-16 – The deduction limit of Rs 50,000 has been raised to Rs 75,000 and Rs
1,00,000 has been raised to Rs 1,25,000.

Section 80U – Physical Disability

Deduction for Person suffering from Physical Disability
A deduction of Rs.75,000 is available to a resident individual who suffers from a physical
disability (including blindness) or mental retardation. In case of severe disability, one can
claim a deduction of Rs 1,25,000.
From FY 2015-16 – Section 80U deduction limit of Rs 50,000 has been raised to Rs 75,000
and Rs 1,00,000 has been raised to Rs 1,25,000.

Section 80G – Donations

Deduction for donations towards Social Causes
The various donations specified in u/s 80G are eligible for deduction up to either 100% or
50% with or without restriction.
From FY 2017-18 any donations made in cash exceeding Rs 2,000 will not be allowed as
deduction. The donations above Rs 2000 should be made in any mode other than cash to
qualify for 80G deduction.
 Chapter 4
THEORETICAL BACKGROUND

A literature review or narrative review is a type of review article. A literature review is a

scholarly paper, which includes the current knowledge including substantive findings, as
well as theoretical and methodological contributions to a particular topic. Literature reviews
are secondary sources, and do not report new or original experimental work. Most often
associated with academic-oriented literature, such reviews are found in academic journals,
and are not to be confused with book reviews that may also appear in the same publication.
Literature reviews are a basis for research in nearly every academic field. A narrow-scope
literature review may be included as part of a peer-reviewed journal article presenting new
research, serving to situate the current study within the body of the relevant literature and to
provide context for the reader. In such a case, the review usually precedes the methodology
and results sections of the work.
To find-out the gap in the literature, the following review of earlier works been done and
summarized as below:

 Anna A. CheAzmi and YusnizaKamarulzman, (2000),”Adoption of Tax E-filing: A

conceptual paper”, in their contribution towards providing useful input on the adoption
and evaluation of the E-filing system by users. It is predicted that many of these risks
facts will be significant. Among the risks that could possibly be significant are
performance risk, psychological risk, time risk and privacy risk. This study aims to the
relationship of perceptions of risk and its facts within the Technology Acceptance
Modal with the tax E-filing context. 

 Yi-shun Wang, (2002), “The Adoption of Electronic Tax Filing Systems: An Empirical
Study”. He explained that the benefits, treads and highlights (ITRs) of E-filing among
the residents of the country. E-filing Income tax return using internet is a gift to a tax
payers. Using the Technology Acceptance Model (TAM) as a theoretical framework,
this study introduces ‘perceived credibility’ as a new factor that reflects use of E-tax
filing system. 
 [Link] Kumar Sharma, [Link], (2011), “An Empirical Study on Tax
Payer’s Attitude towards E-return Filing in India”, in their opinion that study employed
factor analysis and multiple regression analysis to understand tax payers’ attitude
towards E-filing. The study found that perceived ease of use, perceived usefulness,
perceived credibility and computer awareness significantly influence the customer’s
acceptance of E-filing. 
 Geetha R. and Sekar M. (2012),”E-filing of IncomeTax: Awareness and Satisfaction
level of Individual Tax Payers in Coimbatore city, India”, This study reveals that the
existing users are satisfied with the E-filing facilities but most of the individual tax
payers are not awareness of the E-filing and E-payment procedures so sufficient steps
are required to create more awareness in the mind of tax payers regarding E-filing of
Income tax.

 Meenu Gupta, (2012), she analysed that the acceptance of E-filing of Tax Returns is
much better than traditional system of paying Income tax. The benefits of E-filing
heads up the importance of technological advancement. BrahmbhattMamta,
(2012),”Tax Payers Perception towards E-file Adoption: Empirical Investigation”, this
study attempts to develop an understanding of the factors that influence citizens
adoption of electronic tax filing services and to discuss taxpayer perception and
satisfaction with an online system for filling individual Income tax return. 

 Mukesh Kumar and Mohammed Anees (2014),”E-filing Creating New Revolution in

Taxation of India”, in their opinion that changing scenario in Income tax due to
implementation of E-filing. India is in the phase of revolutionary changes in
information technology which also gives great advancement in E-filing field of Income
tax department. 

 [Link] MazidbhaiVohra, (2015) “E-filing; New Revolution in Taxation of India”.

Analysed that the Income tax department has introduced E-filing of Income tax returns
to make the filing process easier for tax payers which will result into reduction of time
and paper work. India is in the phase of revolutionary changes in information
technology which ultimately gives more encouragement in E-filing of Income tax
return. The study shows that the E-filing is the new effective method of filing Income
tax return through online and make E-payment of tax. 
 JyothiArora, (2016), “E-filing of Income Tax Return in India”, he analysed in this
study, deals with the benefits, process, trends and highlights (ITRs) of E-filing among
the residents of country. In the current world new information technology is being
introduced very fast in all fields. Due to the facet of time, researchers could not review
more articles and books, but with the available literature, they found that a very few
works have been done on the area of this topic earlier, hence, it’s a small effort is put in
to fill-up the literature gap.
 Chapter 5
RESEARCH METHODOLOGY

The purpose of methodology is to describe the purpose involve in the research work. This
include the overall research design, the data collected method Research methodology refers
to the various sequential steps to be adopted by a researcher in studying a problem with
certain object or objective in view.

5.1 Sources of data collection:

Data was selected by using both primary and secondary method, in Primary method of data
collection questionnaire was used, in case of secondary data was collected by using
magazine, books and data available with the person working there.

Primary data:
Information obtained from the original source by research is called Primary Data. They
offer much greater accuracy and reliability. The data was collected from the respondents
through the questionnaire.

Secondary data:
It means data that are already available that is they refer to the data which has already been
collected and analysed by someone else. The data was collected from the websites and
journals.

Questionnaire:
A structure questionnaire was administered to the respondent for the collection of primary
data. Questionnaire consists of 10 questions.

5.2 Research Design

Research design is the arrangement of conditions for collection for collection and analyse of
data in a systematic manner that aims to combine relevance to research purpose with
economy in procedure. The research study applied here is purely descriptive.
5.3 Sample Size
50 Respondents are chosen as a sample size for the study.

5.4 Sampling Technique

The simple random sampling method was used for the primary data collection. Simple
random sampling is the basic sampling technique where we select a group of subjects (a
sample) for study from a larger group (a population). Each individual is chosen entirely by
chance and each member of the population has an equal chance of being included in the
sample. Every possible sample of a given size has the same chance of selection i.e, each
meqmber of the population is equally to be chosen stage in the sampling process.
 Chapter 6
DATA ANALYSIS & INTERPRETATION

A questionnaire was prepared for measuring the effectiveness of training and development.
The primary data collected by simple random sampling by using questionnaires was
tabulated, converted in to percentage and displayed both in table as well as by graphical
representation for analysis. Based on the data, Interpretations were made. The questionnaire
used for carrying out survey is included in the annexure.

Q 1: Who Does Your Tax Filing?

OPTIONS RESPONSE IN
PERCENTAGE
Own 32 64%
Employer 2 4%
Tax Advisor 14 28%
Others 2 4%
TOTAL 50 100%

Chart Title

4% Own
Employer
28% Tax Advisor
Others
4% 64%

Interpretation:-
From the survey conducted, the researcher has concluded that, 32 respondents will prefer to
pay their tax filing by their own, 14 respondents will prefer to pay through the tax advisor, 2
respondents will prefer through their employer and the rest 2 will prefer to pay their tax
through others sources.

Q 2: How would you rate the income tax department free e-filing service?

OPTIONS RESPONSE IN PERCENTAGE

Easy 23 46%
Difficult 8 16%
Can’t say 5 10%
I don’t use I-T 14 28%
department e-file
TOTAL 50 100%

Chart Title

Easy
Difficult
28% Can’t say
46% I don’t use I-T
department e-file
10%
16%

Interpretation:-
From the survey conducted, the researcher has conducted that, 23 respondents finds the e-
filing service easy while for the 8 respondents the following service is difficult, 5
respondents can’t say whether it is difficult or easy , and the rest 14 respondents don’t use I-
T department e-file service.

Q 3: How do you e-file?

OPTIONS RESPONSE IN
PERCENTAGE
 I.T. department’s free 40 80%
website
Paid e-filing site 6 12%
Others 4 8%
TOTAL 50 100%

Chart Title

8% I.T. department’s
12% free website
Paid e-filing site
Others

80%

Interpretation:
From the survey conducted, the researcher has concluded that, 40 respondents will prefer
[Link]’s free website to e-file their income tax return while 6 respondents’ e-file
through Paid e-filing site and the rest 4 respondents will prefer to use other sources for e-
filing.

Q 4: How would you rate the paid e-filing service?

OPTIONS RESPONSE IN-PERCENTAGE

Easy 10 20%
Difficult 3 6%
Can’t say 7 14%
I don’t use paid e- 30 60%
filing
TOTAL 50 100%
 Chart Title

Easy
20% Difficult
Can’t say
6% I don’t use paid e-
filing
60%
14%

Interpretation:
From the survey conducted, the researcher has conducted that, 10 respondents finds the e-
filing service easy while for the 3 respondents the following service is difficult, 7
respondents can’t say whether it is difficult or easy , and the rest 30 respondents don’t use I-
T department e-file service.

Q 5: Do you understand the tax calculations in your tax returns?

OPTIONS RESPONSE IN-

PERCENTAGE
Yes 42 84%
No 3 6%
Not sure 5 10%
TOTAL 50 100%

Chart Title

10% Yes
6% No
Not sure

84%
Interpretation:
From the survey conducted, the researcher has concluded that, 42 respondents understand
the tax calculations in their tax returns while, 3 respondents do not understand the
calculation in their returns and the rest 5 respondents are not sure whether they understand
or not.

Q 6: Have you looked at Form 26AS before filing tax returns?

OPTIONS RESPONSE IN-

PERCENTAGE
Yes 40 80%
No 8 16%
Not Sure 2 4%
TOTAL 50 100%

Chart Title

4% Yes
16% No
Not Sure

80%

Interpretation:
From the survey conducted, the researcher has concluded that, 40 respondents looked at
Form 26AS before filing tax returns while, 8 respondents do not looked at Form 26AS
before filing tax returns and the rest 2 respondents are not sure about whether they looked or
not at the time of their tax returns.

Q 7: Have you used online or offline tax calculator to verify your tax computation?
 OPTIONS RESPONSE IN-
PERCENTAGE
Yes 26 52%
No 19 38%
Sometimes 5 10%
TOTAL 50 100%

Chart Title

10% Yes
No
Sometimes
52%
38%

Interpretation:
From the survey conducted, the researcher has conducted that, 26 respondents are agreed
with the statement that they used online or offline tax calculator to verify their tax
computation while 19 respondents do not use it to verify their tax computation and the rest 5
respondents are sometimes use it or sometimes not to verify their tax computation.

Q 8: Do you easily get Form 16/16A from employer and banks?

OPTIONS RESPONSE IN-

PERCENTAGE
Yes 39 78%
No 8 16%
Not Sure 3 6%
TOTAL 50 100%
 Chart Title

6% Yes
16% No
Not Sure

78%

Interpretation:
From the survey conducted, the researcher has conducted that, 39 respondents agreed on the
statement that they easily get Form 16/16A from employer and banks while, 8 respondents
do not easily get Form 16/16A from employer and banks and the rest 3 respondents are not
sure about whether they easily get it or not from employer and banks.

Q 9: If you were eligible for refund, did you get it within six months of tax filing?

OPTIONS RESPONSE IN-

PERCENTAGE
Yes 19 38%
No 18 36%
Not Sure 5 10%
Not Applicable 8 16%
TOTAL 50 100%

Chart Title

Yes
16% No
38% Not Sure
10%
Not Applicable

36%
Interpretation:
From the survey conducted, the researcher has concluded that, 19 respondents will get the
refund within six months of tax filing while, 18 respondents will not get the refund , 5
respondents are not sure whether they will get their refund or not and the rest 8 respondents
are not applicable for the refund.

Q 10: If you had to make tax payment, did you find e-tax payment easy?

OPTIONS RESONSE IN-

PERCENTAGE
Yes 32 64%
No 3 6%
Not Sure 5 10%
Not applicable 10 20%
TOTAL 50 100%

Chart Title

Yes
20% No
Not Sure
10% Not applicable
6% 64%

Interpretation:
From the survey conducted, the researcher has concluded that, 32 respondents find e-tax
payment easy, while 3 respondents find it difficult, 5 respondents will not sure about the e-
tax payment, whether it is easy or difficult and the rest 10 respondents will not applicable
for the e-tax payment.
 Chapter 7
FINDINGS

E-Filing survey: 80% use I-T department's free facility for filing returns
Over 70% feel satisfied with free e-filing facility provided by the Income Tax department.
However, only half are using tax calculators to verify.
 Our online survey on “Do you e-file of your tax returns” received 688 responses. At
first glance, the survey shows that an overwhelming 65% are doing their own e-filing,
while 26% are using the services of a tax advisor or a chartered accountant (CA). Only
13% are using paid e-filing sites when compared to nearly 80% using I-T department’s
free e-filing website. 
 Over 70% of the respondents, who have used free e-filing feel that it is easy or
somewhat easy. It means I-T department e-filing services have come a long way and
still dominate, even though paid e-filing services claim to provide easy filing and better
support. Six out of 10 respondents who have used paid e-filing are also satisfied and
hence e-filing services are providing value for the charges. Those who file by visiting
the I-T office to submit should consider e-filing for convenience and ease. 
 A good 87% claim to understand the calculations in tax returns. But, only one in two
respondents have used online or offline tax calculator to verify tax computation. Tax
calculators do help to catch any error in your tax returns preparation before it is e-filed.

 Two out of 10 respondents have not looked at Form 26AS before filing tax returns.
This is a matter of concern as you are overlooking the critical information that can even
help to reduce taxes. For example, you may have missed the credits for TDS. On the
other hand, the I-T department will catch you, if you failed to report the bank interest
for which TDS was deducted. 
 Over 78% have easily got Form 16/16A from employer and banks, which means the
process is now smooth. Only 44% out of those who were eligible for refund have
received it within six months of tax filing. It means the majority of consumers are still
struggling to get their tax refund even after six months delay. Nearly eight out of 10
respondents who were required to pay taxes found e-tax payment easy. It means you
don’t have to visit banks to pay taxes. Tax payers are doing it online.
 Chapter 8
SUGGESTIONS

• It is suggested that the income tax department can give information about e-filing through
media and Newspapers because only 4% of respondents know about e filing through Media.
• From the above study it is found that there has been extensive advertisement in national
newspaper. It is suggested that it can extended to local newspapers and also using radio
stations and local channels through local languages.
• It is suggested that the awareness can be increased by organizing awareness programs in
office/workplaces for the tax payers so that they are aware about e filing and file their
income tax returns easily by saving their cost and time.
• The researcher also intends to suggest to the income tax department upgrade its
technologies in e-filing of returns(e-filing website) because many respondents find reasons
for their unsuccessful attempt for e filing their income tax returns like e filing website not
responding half way etc. • Knowledge about convenience of e-filing should be given to
those who do not have any motivation towards e-filing.
• Campaigns on e-filing should be taken up in certain places, so that all are aware of its
flexibility.
• Awareness towards correct ITR forms should be given to the tax payers.
 Chapter 9
LIMITATIONS OF THE STUDY

 All respondents may not give correct answers; the answer may vary according to their
mood and the technology given to them. 
 The answer given by the respondent can also reflect by accommodations given to them,
work load and other aspects. For example, if the respondent has been given good
accommodations to use like latest computer with comfortable chair with latest gadget
like computer and with 4g speed net in a comfortable environment, the respondent may
feel easy to file income tax return thus respondent will give positive response and vice
versa. 
 The respondents may not give answer what is actually in their mind due to shy or any
other feelings also the interviewee may not be interested in our questions or research.
 The respondent may not have detail knowledge about our topic which can affect our
research.
 Chapter 10
CONCLUSION

In the present world, new technologies are introduced and improved very fast in all fields.
Now new technology is gifted to tax payers for filing their income tax returns through
online i.e. through efiling. The e-filing is the new effective method of filing income tax
return through online and make epayment tax. It saves time, energy and cost and also
reduces tension. So the tax– payers are requested to use e-filing and e payment facilities.
This study reveals that the existing users are satisfied with the e-filing facilities but most of
the individual tax payers are not aware of the e-filing and e-payment procedures. Therefore
through this research adequate steps to create more awareness in the minds of tax payers
regarding e-filing of income tax are provided. This study is carried out to determine the tax
payer’s perception towards e-filing of income tax returns. One of the main challenges in e-
filing is the risk of security. As individual tax payers are the most important end users,
sufficient understanding of tax payers acceptance and usage of e-filing system should be
made to reduce the risk of user rejection, preventive and predictive measures ought to be
taken on a timely basis to ensure further acceptance among the non-users of e-filing.
 Chapter 11
BIBLIOGRAPHY
• [Link]

• [Link]

 [Link]
freefacility-for-filing-returns/[Link]
 ANNEXURE

1. Who does your tax filing?

a) Own
b) Employer
c) Tax advisor
d) Others

2. How would you rate the Income tax department free e-filing service?
a) Easy
b) Difficult
c) Can’t say
d) I don’t use I-T department e-file

3. How do you e-file?

a) I-T department’s -free website
b) Paid e-filing site
c) Others

4. How would you rate the paid e-filing service?

a) Easy
b) Difficult
c) Can’t say
d) I don’t use paid e-filing

5. Do you understand the tax calculations in your tax returns?

a) Yes
b) No
c) Not Sure

6. Have you looked at Form 26AS before filing tax returns?

a) Yes
b) No
c) Not Sure

7. Have you used online or offline tax calculator to verify your tax computation?
a) Yes
b) No
c) Sometimes

8. Do you easily get Form 16/16A from employer and banks?

a) Yes
b) No
c) Not Sure

9. If you are eligible for refund, did you get it within six months of tax filing?
a) Yes
b) No
c) Not Sure
d) Not applicable

10. If you had to make tax payment, did you find e-tax payment easy?
a) Yes
b) No
c) Not Sure
d) Not applicable