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Getting Rid of "StoreCertificate - ClassNotFoundException" error in Java

Online eFiling facility of Indian IncomeTax Department utilizes Java to enable core functionality of the website, including upload and signing of eReturns using digital signatures. Unfortunately, due to lack of update to support the most current Java 7 version, a user is shown the error as below when trying to digitally-sign and upload there XML return files. Things get even more mysterious when proper reason for the error is not available, although not without some work the error can be bypassed as instructed next.

StoreCertificate Error
ClassNotFoundException error
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