FAQs

Is it mandatory for me to file an Income Tax Return if I have a PAN?

No. The following points explain this clearly:

  • You need to file an Income Tax Return if your Total Taxable Income exceeds the basic exemption limit before taking into account deductions, i.e., tax saving investments.
  • The basic exemption limit for financial year 2015-2016 is as under: -

    Gender, Age & Residential Status Basic Exemption Limit
    Resident Female & Others Rs.2,50,000
    Resident Senior Citizen
    (Age > = 60 yrs and < 80 yrs as on 31st March of Financial year)
    Rs.3,00,000
    Resident Very Senior Citizen
    (Age > = 80 yrs as on 31st March of Financial year)
    Rs.5,00,000

  • You do not need to file an Income Tax Return if your total taxable income does not exceed the basic exemption limit before taking into account deductions, even though you may have a PAN.

What steps are to be followed when I e-File without using a Digital Signature?

When you e-File without using a Digital Signature, you receive ITR-V as an attachment in the e-mail sent by the Income Tax Department. Since the return you filed was not signed, your filing is still incomplete. To complete the return filing process, follow the below mentioned steps -

  • Print and sign ITR-V.
  • Do not fold this signed ITR-V. Enclose the same in A-4 size envelope.
  • Mail the envelope within 120 days of e-Filing to –
    Income Tax Department CPC
    Post Box No.1,
    Electronic City Post Office,
    Bangalore 560100, Karnataka.
  • Upon receipt of ITR-V, Income Tax Department will send an e-mail acknowledging the receipt of signed copy of ITR-V. This is your acknowledgement.
  • Your filing is now complete..

I think online filing could be more complex than physical filing. Can Neo Tax Online help me if I need it?

With Neo Tax Online, you can confidently prepare and file your Income Tax Return on your own. We believe you can, because:

  • You are guided through simple interactive screens with online help available at each step.
  • If you have basic queries like navigating through the website, printing your return etc., you can contact us by email.
  • Your tax calculations are done by intelligent algorithms that are built into our website and incorporate the latest updates. So you do not have to bother about tax laws and updates. Our system does it all!