TITLE OF THE PROJECT

COMPUTARISED ACCOUNTING AND E-FILING OF TAX RETURNS

(Submitted for the Degree of B.Com. Honours in Accounting & Finance under the
University of Calcutta)

SUBMITTED BY

NAME OF THE CANDIDATE : Arnob Das

SECTION : B.Com Honours
SUBJECT : Computerized Accounting System
REGISTRATION NO : 144-1111-0743-20
ROLLNO : 201144-21-0185
COLLEGE ROLL NO. : BH0301

SUPERVISED BY

NAME OF THE SUPERVISIOR: Debasis Biswas,

Dipika Das

NAME OF THE COLLEGE: Bangabasi Morning

College

MONTH & YEAR OF SUBMISSION

MAY, 2023
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 SUPERVISOR’S CERTIFICATE

This is to certify that Mr. Arnob Das student of B.com Honours in

Accounting & Finance of Bangabasi Morning College under University
of Calcutta has worked under my supervision and guidance for the title
E-FILING which she is submitting. Her Genuine and original work to
the best of my knowledge.

Place : Kolkata Signature:

Date: Name: Debasis Biswas, Dipika Das

Name of College: Bangabasi
Morning
College.

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 STUDENT DECLARATION

I hereby declare that this project E-FILING submitted by me for the partial
fulfillment of the degree B.Com honours in accounting and finance under
University of Calcutta is my original work and has notbeen submitted earlier
under any other University or institution for fulfillment the requirement of other
course of study.

I also declared that no chapter of this manuscript or part has

been incorporated in this report from any earlier work done
by others or by me.
However, extracts of any literature which has been used for this report has
beenduly acknowledge providing details of search literature in this reference.

Place : Kolkata Signature:

Date: Name: Arnob Das
Address : 8/A, Mahendra

Chatterjee Lane, Kolkata 700046

Name of College: Bangabasi Morning College.
CU. Reg. No.144-1111-0743-20

CU. Roll No.: 201144-21-0185

College Roll No.: BH0301

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 Introduction
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.
Filing income taxes doesn't need to be a challenging task. If you are worried that
filing taxes is about carrying hundreds of papers and organising everything like
students do before an exam, let us tell you right away that income tax filing
today is nothing like that. With India embracing the digital world and the many
conveniences it offers, electronic filing (e-filing) makes it possible to file income
tax returns (ITRs) in a matter of few clicks. The best part is you can e-file your
taxes right from the comfort of your home or workstation in your office. There
are no long queues where time is wasted or human interactions that complicate
matters. Just register on the Income Tax efiling website.

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 Features

Electronic Filing systems might have many different features but the two
most important ones are the ability to retrieve information and capture it in
the first place.

 Capture information from scanned documents- A good filing

software ought to be able to scan digital documents directly. Features
like automatic document separation, optical character recognition are
quite handy.
 Capture information from printed documents- Electronic filing
software usually has a virtual printer that captures the document and
stores it in the filing system. However, you won’t be able to edit these
documents.
 Save Function- A good filing software ought to be able to tie into the
Save As a function of other programs. This makes it much easier to
capture documents.
 Document Retriever- A good filing software should allow you
complete access to the files and folder. As a result, opt for a filing
software that stores the files in a regular folder. Many filing software
makes it quite difficult and cumbersome to access the files

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 Advantage of E-Filing
E-file is faster, easier and more accurate than filing a paper return.
E-file makes compliance with reporting and disclosure requirements easier by
eliminating the need to make copies, assemble all of the appropriate schedules
and attachments, and pay for postage. Organizations can comply with public
disclosure requirements by posting electronic forms on the web.
E-file results in benefits for both IRS and taxpayers, including:

 More explicit error conditions – New error code explanations pinpoint the
location of the error in the return and provide complete information in
the Acknowledgement File.
 Faster acknowledgements – Transmissions are processed upon receipt
and acknowledgments are returned in near real-time, but no longer than
24 hours. No more waiting for once or twice daily system processing
cycles.
 Built-in accuracy checks – Paper Form 990 returns have an average error
rate of more than 25 percent. Built-in accuracy checks in electronic return
preparation software catch the majority of taxpayer errors before the
return is submitted.

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 Disadvantage of E-Filing
While there are innumerable benefits to electronic filing, it also comes with
certain limitations, such as:

1. Complicated software

E-filing is an easy task for trained professionals or tax agents. However, the use
of e-filing software is not taught everywhere and hence can be complicated to
use for tax-paying units that file their own taxes without using the services of a
tax agent or a trained professional.

Additionally, since it is a relatively new process, the knowledge of e-filing is not

widespread. Not many individual tax-paying units are aware of the knows-and-
hows of the e-filing process.

2. Security

E-filing involves a tax filer to put their faith in the security of their internet
connection, the software, the hard disk with data, etc.. Still, electronic systems
are not short of security breaches.

The process involves the storage of highly sensitive financial data electronically.
A hard disk crash could lose all data; an unethical hack could potentially make
one incur massive losses, and so on. Security is one of the biggest concerns that
come with e-filing.

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1. PROJECT WORK ON REGISTRATION MY PAN

Step - 1
 Click Link https://www.incometaxindiaefiling.gov.in/home
 Click Register yourself
 Select User Type as Indivisual and Press Continue
 Fill the Registration form Indivisual – Enter Basic Details and
Press Continue

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Step – 2
 Fill The Registration Form
 Enter Password Details
 Select Secret Question Form The Drop Down List
 Fill The Contact Details
 Fill The Address of Indivisual and Click Continue

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Step – 3
 Registration Varification
 Enter E-mail OTP
 Enter Mobile OTP
NOTE – OTP Sent to Your E-mail and Mobile Number

Step – 4
 Registration Sucessful
 Open My Transaction ID and User ID

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 2. PROJECT WORK ON 26AS FORM
Step – 1
 Click Link https://www.incometaxindiaefiling.gov.in/home
 Click on the Log in Here
 Fill The Log In Details – [User ID Your PAN No.]
 Enter Your User Id
 Enter Password
 Enter Captcha Code And Click on Log In Tab

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Step – 2
 Click On Profile Setting
 Select My Profile
 Cliclk On Contact Details
 Click On PAN Details

5
Step – 3
 Click On My Acoount
 Select Veiw Form26AS (Tax Credit)
 Click Confirm
 Click Proceed

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Step – 4
 Click View Tax Credit (Form 26AS) to view your Form 26AS.
 Put Assesment Year( Current Year) in the Box
 Put HTML in the Veiw as Box
 Click View/Download { SeeThe Next Page}

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3. PROJECT WORK ON CHALLAN 280

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 BIBILIOGRAPHY

The study material to complete this project it takes from the

books provided by the University of Calcutta.

Sources:
Learn E-Filing

 www.ebiztehnix.com
 www.aspringyouths.com
 www.javatpoint.com
 www.simplilearn.com