A date with IT Returns
Tomorrow is the last day to file your IT Returns. Last week I was in the office of a leading MNC tax consulting firm in Bangalore, and I asked a few friends there whether they had filed their Income Tax returns and they said, they were waiting for the announcement of extension of last date. I warned them that this year there may not be any extension and they better file their returns by 31st July 2007. My good friend Suresh Nair who was with me in the Central Excise Department and who is now with a leading consulting firm believed that when he can crack complex indirect tax issues, just filling up an ITR form would not be very difficult and he started on this mission yesterday but realized that it was not his cup of tea and finally sought the help of a CA.
As for me, I simply handed over all my accounts to my CA and signed wherever he wanted me to sign. He took originals of all the documents including deeds of the properties I sold and bought, TDS certificates, investments, advance tax receipts etc,. I told him the Board Circular says, no enclosures with the Returns and he told me, "you are filing the return with the ITO, not the Board."
After paying Income Tax on every rupee, I earn, I am not really sure whether I am an offender or a tax compliant citizen. Only my CA, AO and God will know for sure!
Today we bring you in our Top Special Column Suresh's experiences in filing the returns.
Bhagavan Srikrishna said in Bhagavat Gita, "anubhavadharajeevitham" - "life is a series of experiences - filing IT return is one!