Sunday 4 August 2013

Role of Digital Signature in Income tax- FAQ’s

What is The Digital Signature?
A digital signature verifies electronic documents in a comparable way a written by hand signature confirms printed documents. This signature can't be fashioned and it states that a named individual composed or overall consented to the document to which the signature is attached. The beneficiary of a digital signed message can check that the message started from the individual whose signature is joined to the document and that the message has not been changed either deliberately or inadvertently since it was signed. Additionally, the underwriter of a document can't later repudiate it by guaranteeing that the signature was produced. In different words, digital signatures empower the "confirmation" and "non-disavowal" of digital messages, assuring the beneficiary of a digital message of both the identity of the sender and the respectability of the message.

A digital signature is issued by a Certification Authority (CA) and is signed with the CA's private key. A digital signature normally holds the: Owner's public key, the Owner's name, Expiration date of the public key, the Name of the backer (the CA that issued the Digital ID), Serial number of the digital signature, and the digital signature of the issuer. Digital signatures convey the Public Key Infrastructure (PKI) technology.

In the event that you file electronically utilizing digital signature you don't have to submit a physical duplicate of the return. Regardless of the possibility that you don't have a digital signature, you can at present e-File the returns. Nonetheless, you should additionally physically submit the printed duplicate of the topped off Form on top of the duplicate of the Provisional Acknowledgement Number of your e-Return

How legal is The Digital signature?
India is one of the select bands of nations that have the Digital Signature Legislation in place. This Act grants digital signatures that have been issued by a licensed Certifying Authority in India the same status as a physical signature. Digital signatures deploy the Public Key Infrastructure (PKI) technology.

India is one of the select bands of countries that have the Digital Signature Legislation set up. This Act stipends digital signature that have been issued by an authorized Certifying Authority in India the same status as a physical signature. Digital signatures send the Public Key Infrastructure (PKI) technology.

I do not have a Digital Signature. Does this mean I can’t file online?
On the off chance that you don't have a Digital Signature, you can in any case e-File the returns. Be that as it may, you should likewise physically submit the printed duplicate of the filled up Form in addition to the duplicate of the Provisional Acknowledgement Number of your e-Return.

Do I require a new digital signature in the event that I as of recently have one?
A person/company who as of recently has the specified Digital Signature for whatever possible provision can utilize the same for filings for the Income tax return and is not needed to get a new Digital Signature.

What amount of does a digital signature cost? 
The Digital Signature certificates are regularly issued with one year validity and two year validity. It incorporates the cost of medium (a UBS token which is a one time require), the expense of issuance of Digital Signature and the renewal cost after the time of validity. The issuance costs in admiration of every Certification Agency differ and are business driven.
Read more... Digital Signature Certificate, Digital Signature Certificate for E-Tendering


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