{"id":5524,"date":"2018-03-19T15:32:12","date_gmt":"2018-03-19T10:02:12","guid":{"rendered":"https:\/\/www.hostbooks.com\/in\/?p=5524"},"modified":"2018-03-19T15:32:12","modified_gmt":"2018-03-19T10:02:12","slug":"rule-12-return-income-return-fringe-benefits","status":"publish","type":"post","link":"https:\/\/www.hostbooks.com\/in\/hb\/all-rules\/rule-12-return-income-return-fringe-benefits\/","title":{"rendered":"Rule – 12, Return of income and return of fringe benefits"},"content":{"rendered":"
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12.\u00a0<\/b>(1) The return of income required to be furnished under sub-section (1) or sub- section (3) or sub-section (4A) or sub-section (4B) or sub-section (4C) or sub-section (4D)\u00a0<\/a>34<\/sup>[<\/b>or sub-section (4E)<\/i>]\u00a0<\/b><\/a>34a<\/sup>[<\/b>or sub-section (4F)<\/i>]<\/b>\u00a0of section 139 or clause (i<\/i>) of sub-section (1) of section 142 or sub-section (1) of section 148 or section 153A\u00a0<\/a>35<\/sup>[***] relating to the assessment year commencing\u00a0<\/a>36<\/sup>[on the 1st day of April,\u00a0<\/a>64<\/sup>[<\/b>2017<\/i>]<\/b>] shall,\u2014<\/p>\n\n\n\n
<\/a>38<\/sup>[(a<\/i>)<\/td>\n<\/td>\nin the case of a person being an individual where the total income includes income chargeable to income-tax, under the head,\u2014<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n\n\n\n\n
(i<\/i>)<\/td>\n<\/td>\n“Salaries“<\/i>\u00a0or income in the nature of family pension as defined in the\u00a0Explanation<\/i>\u00a0to clause (iia<\/i>) of section 57; or<\/td>\n<\/tr>\n
(ii<\/i>)<\/td>\n<\/td>\n“Income from house property”, where assessee does not own more than one house property and does not have any brought forward loss under the head; or<\/td>\n<\/tr>\n
(iii<\/i>)<\/td>\n<\/td>\n“Income from other sources“<\/i>, except winnings from lottery or income from race horses\u00a0<\/a>39<\/sup>[and does not have any loss under the head],<\/td>\n<\/tr>\n
<\/td>\n<\/td>\nbe in Form\u00a0<\/a>40<\/sup>[SAHAJ] (ITR-1) and be verified in the manner indicated therein:]<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/a>41<\/sup>[Provided\u00a0<\/b>that the provisions of this clause shall not apply to a person who,\u2014<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
(I<\/i>)<\/td>\n<\/td>\nis a resident, other than not ordinarily resident in India within the meaning of sub-section (6)<\/a>*\u00a0of section 6 and has,\u2014<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n\n\n
(i<\/i>)<\/td>\n<\/td>\nassets (including financial interest in any entity) located outside India; or<\/td>\n<\/tr>\n
<\/a>41a<\/sup>[<\/b>(<\/i>ii)<\/i><\/td>\n<\/td>\nsigning authority in any account located outside India; or<\/i><\/td>\n<\/tr>\n
(<\/i>iii)<\/i><\/td>\n<\/td>\nincome from any source outside India;<\/i>]<\/b><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n\n\n\n\n
(II<\/i>)<\/td>\n<\/td>\nhas claimed any relief of tax under section 90 or 90A or deduction of tax under section 91;\u00a0<\/a>65<\/sup>[<\/b>***]<\/b><\/td>\n<\/tr>\n
<\/a>41b<\/sup>[<\/b>(<\/i>III)<\/i><\/td>\n<\/td>\nhas agricultural income, exceeding five thousand rupees;<\/i>]<\/b>]<\/td>\n<\/tr>\n
<\/a>66<\/sup>[<\/b>(IV)<\/i><\/td>\n<\/td>\nhas total income, exceeding fifty lakh rupees;<\/i><\/td>\n<\/tr>\n
(V)<\/i><\/td>\n<\/td>\nhas income taxable under section 115BBDA; or<\/i><\/td>\n<\/tr>\n
(VI)<\/i><\/td>\n<\/td>\nhas income of the nature referred to in section 115BBE<\/i>;]<\/b><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n\n\n\n\n
(b<\/i>)<\/td>\n<\/td>\n<\/a>67<\/sup>[<\/b>***<\/i>]<\/b><\/td>\n<\/tr>\n
(ba<\/i>)<\/td>\n<\/td>\n<\/a>68<\/sup>[<\/b>***<\/i>]<\/b><\/td>\n<\/tr>\n
<\/a>69<\/sup>[<\/b>(c)<\/i><\/td>\n<\/td>\nin the case of a person being an individual\u00a0<\/i>[not being an individual to whom clause (a) applies<\/i>]\u00a0of a Hindu undivided family where the total income does not include income derived from a proprietory business or profession, be in Form No. ITR-2 and be verified in the manner indicated therein;\u00a0<\/i>]<\/b><\/td>\n<\/tr>\n
<\/a>42<\/sup>[(ca<\/i>)<\/td>\n<\/td>\nin the case of a person being an individual or a Hindu undivided family\u00a0<\/a>42a<\/sup>[<\/b>or a firm, other than a limited liability partnership firm,<\/i>]\u00a0<\/b>deriving\u00a0<\/a>70<\/sup>[<\/b>“income under the head Profits or gains of business or profession” and such income is computed in accordance with special provisions referred to in section 44AD, section 44ADA and section 44AE of the Act for computation of such income, be in Form SUGAM (ITR-4)<\/i>]<\/b>\u00a0and be verified in the manner indicated therein:]<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/a>43<\/sup>[Provided\u00a0<\/b>that the provisions of this clause shall not apply to a person who,\u2014<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
(I<\/i>)<\/td>\n<\/td>\nis a resident, other than not ordinarily resident in India within the meaning of sub-section (6)<\/a>*\u00a0of section 6 and has,\u2014<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n\n\n
(i<\/i>)<\/td>\n<\/td>\nassets (including financial interest in any entity) located outside India; or<\/td>\n<\/tr>\n
<\/a>43a<\/sup>[<\/b>(<\/i>ii)<\/i><\/td>\n<\/td>\nsigning authority in any account located outside India; or<\/i><\/td>\n<\/tr>\n
(<\/i>iii)<\/i><\/td>\n<\/td>\nincome from any source outside India;<\/i>]<\/b><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n\n\n\n
(II<\/i>)<\/td>\n<\/td>\nhas claimed any relief of tax under section 90 or 90A or deduction of tax under section 91;\u00a0<\/a>71<\/sup>[<\/b>***<\/i>]<\/b><\/td>\n<\/tr>\n
<\/a>43b<\/sup>[<\/b>(<\/i>III)<\/i><\/td>\n<\/td>\nhas agricultural income, exceeding five thousand rupees;<\/i>]<\/b>]<\/td>\n<\/tr>\n
<\/a>72<\/sup>[<\/b>(IV)<\/i><\/td>\n<\/td>\nhas income taxable under section 115BBDA; or<\/i><\/td>\n<\/tr>\n
(V)<\/i><\/td>\n<\/td>\nhas income of the nature referred to in section 115BBE;<\/i>]<\/b><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n\n\n\n\n
(d<\/i>)<\/td>\n<\/td>\nin the case of a person being an individual or a Hindu undivided family other than the individual or Hindu undivided family referred to in clause (a<\/i>) or\u00a0<\/a>73<\/sup>[<\/b>***<\/i>]<\/b>\u00a0clause (c<\/i>)\u00a0<\/a>44<\/sup>[or clause (ca<\/i>)] and deriving income from a proprietory business or profession, be in\u00a0<\/a>74<\/sup>[<\/b>Form No.ITR-3<\/i>]<\/b>\u00a0and be verified in the manner indicated therein;<\/td>\n<\/tr>\n
(e<\/i>)<\/td>\n<\/td>\nin the case of a person not being an individual or a Hindu undivided family or a company or a person to which clause (g<\/i>) applies, be in Form No. ITR-5 and be verified in the manner indicated therein;<\/td>\n<\/tr>\n
(f<\/i>)<\/td>\n<\/td>\nin the case of a company not being a company to which clause (g<\/i>) applies, be in Form No. ITR-6 and be verified in the manner indicated therein;<\/td>\n<\/tr>\n
(g<\/i>)<\/td>\n<\/td>\nin the case of a person including a company whether or not registered under section 25 of the Companies Act, 1956 (1 of 1956), required to file a return under sub-section (4A) or sub-section (4B) or sub-section (4C) or sub-section (4D) ><\/a>44a<\/sup>[<\/b>or sub-section (4E)<\/i>]\u00a0<\/b><\/a>44b<\/sup>[<\/b>or sub-section (4F)<\/i>]<\/b>\u00a0of section 139, be in Form No. ITR-7 and be verified in the manner indicated therein;<\/td>\n<\/tr>\n
(h<\/i>)<\/td>\n<\/td>\n<\/a>45<\/sup>[***]<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

<\/a>46<\/sup>[(2) The return of income required to be furnished in Form SAHAJ (ITR-1) or Form No. ITR-2 or Form No. ITR-3 or\u00a0<\/a>75<\/sup>[<\/b>Form SUGAM (ITR-4)<\/i>]<\/b>\u00a0or Form No. ITR-5 or Form No. ITR-6\u00a0<\/a>47<\/sup>[or Form No. ITR-7] shall not be accompanied by a statement showing the computation of the tax payable on the basis of the return, or proof of the tax, if any, claimed to have been deducted or collected at source or the advance tax or tax on self-assessment, if any, claimed to have been paid or any document or copy of any account or form or report of audit required to be attached with the return of income under any of the provisions of the Act:]<\/p>\n

<\/a>48<\/sup>[Provided\u00a0<\/b>that where an assessee is required to furnish a report of audit specified under sub-clause (iv<\/i>), (v<\/i>), (vi<\/i>) or (via<\/i>) of clause (23C<\/i>) of section 10, section 10A<\/a>49<\/sup>[, section 10AA], clause (b<\/i>) of sub-section (1) of section 12A, section 44AB\u00a0<\/a>49<\/sup>[, section 44DA, section 50B], section 80-IA, section 80-IB, section 80-IC, section 80-ID, section 80JJAA, section 80LA, section 92E,\u00a0<\/a>50<\/sup>[section 115JB,\u00a0<\/a>50a<\/sup>[<\/b>section 115JC<\/i>]<\/b>\u00a0or section 115VW]\u00a0<\/a>51<\/sup>[or to give a notice under clause (a<\/i>) of sub-section (2) of section 11] of the Act, he shall furnish the same electronically.]<\/p>\n

<\/a>52-58<\/sup>[<\/b>(3) The return of income referred to in sub-rule (1) shall be furnished by a person mentioned in column (<\/i>ii) of the Table below to whom the conditions specified in column (<\/i>iii) apply, in the manner specified in column (<\/i>iv) thereof:\u2014<\/i><\/p>\n

TABLE<\/p>\n\n\n\n\n\n
Sl.<\/td>\nPerson<\/td>\nCondition<\/td>\nManner of furnishing return of income<\/td>\n<\/tr>\n
(i)<\/td>\n(ii)<\/td>\n(iii)<\/td>\n(iv)<\/td>\n<\/tr>\n
<\/a>76<\/sup>[<\/b>1<\/i><\/td>\nIndividual or Hindu undivided family<\/i><\/td>\n\n\n\n\n\n
(<\/i>a)<\/i><\/td>\n<\/td>\nAccounts are required to be audited under section 44AB of the Act;<\/i><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\nElectronically under digital signature;<\/i><\/td>\n<\/tr>\n
<\/td>\n<\/td>\n\n\n\n\n
(<\/i>b)<\/i><\/td>\n<\/td>\nWhere total income assessable under the Act during the previous year of a person,-<\/i><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n\n
(<\/i>i)<\/i><\/td>\n<\/td>\nbeing an individual of the age of 80 years or more at any time during the previous year; or<\/i><\/td>\n<\/tr>\n
(<\/i>ii)<\/i><\/td>\n<\/td>\nwhose income does not exceed five lakh rupees and no refund is claimed in the return of income,<\/i><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
<\/td>\n<\/td>\nand who furnishes the return in Form No. SAHAJ ITR-1 or Form No. SUGAM (ITR-4)<\/i><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n\n\n\n\n\n\n\n\n
(<\/i>A)<\/i><\/td>\n<\/td>\nElectronically under digital signature; or<\/i><\/td>\n<\/tr>\n
(<\/i>B)<\/i><\/td>\n<\/td>\nTransmitting the data electronically in the return under electronic verification code; or<\/i><\/td>\n<\/tr>\n
(<\/i>C)<\/i><\/td>\n<\/td>\nTransmitting the data in the return electronically and thereafter submitting the verification of the return in Form ITR-V; or<\/i><\/td>\n<\/tr>\n
(<\/i>D)<\/i><\/td>\n<\/td>\nPaper form;<\/i><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n\n\n\n\n
(<\/i>c)<\/i><\/td>\n<\/td>\nIn any other case<\/i><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n\n\n\n\n\n\n\n\n
(<\/i>A)<\/i><\/td>\n<\/td>\nElectronically under digital signature; or<\/i><\/td>\n<\/tr>\n
(<\/i>B)<\/i><\/td>\n<\/td>\nTransmitting the data electronically in the return under electronic verification code; or<\/i><\/td>\n<\/tr>\n
(<\/i>C)<\/i><\/td>\n<\/td>\nTransmitting the data in the return electronically and thereafter submitting the verification of the return in Form ITR-V;<\/i>]<\/b><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n
2<\/i><\/td>\nCompany<\/i><\/td>\nIn all cases.<\/i><\/td>\nElectronically under digital signature.<\/i><\/td>\n<\/tr>\n
3<\/i><\/td>\nA person required to furnish the return in Form ITR-7<\/i><\/p>\n

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 <\/td>\n

\n\n\n\n\n
(<\/i>a)<\/i><\/td>\n<\/td>\nIn case of a political party;<\/i><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\nElectronically under digital signature;<\/i><\/td>\n<\/tr>\n
<\/td>\n\n\n\n\n
(<\/i>b)<\/i><\/td>\n<\/td>\nIn any other case<\/i><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/td>\n

\n\n\n\n\n
(<\/i>A)<\/i><\/td>\n<\/td>\nElectronically under digital signature; or<\/i><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n
<\/td>\n\n\n\n\n\n
(<\/i>B)<\/i><\/td>\n<\/td>\nTransmitting the data in the return electronically under electronic verification code; or<\/i><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n\n\n\n\n\n
(<\/i>C)<\/i><\/td>\n<\/td>\nTransmitting the data in the return electronically and thereafter submitting the verification of the return in Form ITR-V<\/i><\/a>59b<\/sup>.<\/i><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n
4<\/i><\/td>\nFirm or limited liability partnership or any person (other than a person mentioned in Sl. 1 to 3 above) who is required to file return in Form ITR-5<\/i><\/p>\n

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 <\/td>\n

\n\n\n\n\n
(<\/i>a)<\/i><\/td>\n<\/td>\nAccounts are required to be audited under section 44AB of the Act;<\/i><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\nElectronically under digital signature;<\/i><\/td>\n<\/tr>\n
<\/td>\n\n\n\n\n
(<\/i>b)<\/i><\/td>\n<\/td>\nIn any other case.<\/i><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n\n\n\n\n\n
(<\/i>A)<\/i><\/td>\n<\/td>\nElectronically under digital signature; or<\/i><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n
<\/td>\n\n\n\n\n\n
(<\/i>B)<\/i><\/td>\n<\/td>\nTransmitting the data in the return electronically under electronic verification code; or<\/i><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n\n\n\n\n
<\/td>\n<\/td>\n(<\/i>C)<\/i>\u00a0Transmitting the data in the return electronically and thereafter submitting the verification of the return in Form ITR-V<\/i><\/a>59b<\/sup>.<\/i><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Explanation.\u2014For the purposes of this sub-rule “electronic verification code” means a code generated for the purpose of electronic verification of the person furnishing the return of income as per the data structure and standards specified by Principal Director General of Income-tax (Systems) or Director General of Income-tax (Systems).<\/i>]<\/b><\/p>\n

(4) The\u00a0<\/a>60<\/sup>[<\/b>Principal Director-General of Income-tax (Systems) or Director-General of Income-tax (Systems)<\/i>]<\/b>\u00a0shall specify the procedures, formats and standards for ensuring secure capture and transmission of data and shall also be responsible for evolving and implementing appropriate security, archival and retrieval policies in relation to furnishing the returns ><\/a>60a<\/sup>[<\/b>in the manners (other than the paper form) specified in column (<\/i>iv) of the Table in sub-rule (3)<\/i>]<\/b><\/a>61<\/sup>[and the report of audit\u00a0<\/a>62<\/sup>[or notice] in the manner specified in proviso to sub-rule (2)].<\/p>\n

(5) Where a return of income\u00a0<\/a>63<\/sup>[***] relates to the assessment year commencing on the 1st day of April,\u00a0<\/a>77<\/sup>[<\/b>2016<\/i>]<\/b>\u00a0or any earlier assessment year, it shall be furnished in the appropriate form as applicable in that assessment year.<\/i>]<\/p>\n<\/div>\n

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Reference: www.incometaxindia.gov.in<\/p>\n<\/div>\n<\/div>\n<\/div>\n

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12.\u00a0(1) The return of income required to be furnished under sub-section (1) or sub- section [\u2026]<\/span><\/p>\n","protected":false},"author":68,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1439,1440],"tags":[],"yst_prominent_words":[7790,7785,7795,7791,7789,7784,546,7765,1510,7796,4173,7786,7794,7793,2641,7797,458,7792,7764,7763],"_links":{"self":[{"href":"https:\/\/www.hostbooks.com\/in\/hb\/wp-json\/wp\/v2\/posts\/5524"}],"collection":[{"href":"https:\/\/www.hostbooks.com\/in\/hb\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.hostbooks.com\/in\/hb\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.hostbooks.com\/in\/hb\/wp-json\/wp\/v2\/users\/68"}],"replies":[{"embeddable":true,"href":"https:\/\/www.hostbooks.com\/in\/hb\/wp-json\/wp\/v2\/comments?post=5524"}],"version-history":[{"count":0,"href":"https:\/\/www.hostbooks.com\/in\/hb\/wp-json\/wp\/v2\/posts\/5524\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.hostbooks.com\/in\/hb\/wp-json\/wp\/v2\/media?parent=5524"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.hostbooks.com\/in\/hb\/wp-json\/wp\/v2\/categories?post=5524"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.hostbooks.com\/in\/hb\/wp-json\/wp\/v2\/tags?post=5524"},{"taxonomy":"yst_prominent_words","embeddable":true,"href":"https:\/\/www.hostbooks.com\/in\/hb\/wp-json\/wp\/v2\/yst_prominent_words?post=5524"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}