Income Tax Return

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FILE YOUR INCOME TAX RETURN EFFORTLESSLY

File tax pay returns effortlessly with the guidance of our ITR experts. Don’t let the fear of taxes ruin your financial goals.

steps for filing the ITR online.

  • Calculate your Income
  • Calculate the total tax deduction
  • Claim the allowances
  • Provide the information regarding other sources of income
  • Net taxable Income
  • Calculate tax
  • Pay the extra tax if necessary
  • File the ITR without form 16

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    Online Income Tax Return Filing

    Before filing the income tax it is important to understand what income tax is? Income Tax Return i.e., ITR is a form that is submitted by a person that contains all the information regarding one of the people's income and the taxes that need to be paid during the financial year. Various types of forms are used for filing the ITR are such as:

    • Profit and gains from business and profession
    • Income from salary
    • Income from capital gains
    • Income from house property
    • Income from other sources that includes interest, dividend, royalty income, etc.

    With the evolving time, the Government has also adopted technology and started online income tax return filing. It has saved lots of time and cost of the people who used to wait in ques for longer periods for filing the ITR. Now filing ITR through onlines is very here are some of the steps for filing the ITR online.

    • Calculate your Income
    • Calculate the total tax deduction
    • Claim the allowances
    • Provide the information regarding other sources of income
    • Net taxable Income
    • Calculate tax
    • Pay the extra tax if necessary
    • File the ITR without form 16

    Benefits of Income-tax Return Filing

    There are so many benefits of doing income tax return filing that are:

    • It works as a proof of the investment and income you have.
    • There is no notice of penalties and taxes.
    • It helps get the refunds if extra amount has been deducted as income tax
    • It helps in compensating the previous year's loss in the current year ITR filing.

    Frequently Asked Questions

    Why does ITR need to be filed?

    ITR is filed for reporting the income earned in the financial and what are the losses that are carried forward.

    What is the eligibility of filing the ITR?

    For filing the ITR it is mandatory to have an income that exceeds 2.5 Lakhs. For senior citizens that are above 60 years of age but less than 80 they need to file 3 lakh and the senior citizens above the age of 80 their limit is 5 lakhs.

    At what time ITR is filed?

    An ITR is filed in every financial year that is 1st April to 31st March according to the business calendar.

    Is filing of the ITR mandatory?

    ITR filing is mandatory for the people if they cross the exemption limit that varies according to the age.

    Who is not eligible for filing the ITR?

    In case your income falls out of the taxable limit that has been decided by the central government then you don't need to file the ITR. You can file a nil return that works as a proof for the income or profits you earn.