ITR FILE
ITR filing FY23-24: Want to reduce tax outgo? Know which deductions you can claim in old and new tax regime Income tax return: While filing ITR you can claim certain tax deductions to reduce your total income tax outgo and increase the tax refund amount. According to CA Shreya Jaisal, "You can still claim additional deductions in your ITR even if they are...
04 Jul, 2024, 04.54 PM ISTWhat is Form 16? How to download Form 16 to file income tax return (ITR) How to download Form 16: The Form 16 is an important document that is provided by the employer to the employee annually, after the end of the financial year. It contains comprehensive details of the salary paid to the employee, including allowances,...
04 Jul, 2024, 12.00 PM ISTCan you carry forward losses while filing ITR under the new tax regime? Read the fine print Carry forward and set off of losses in new tax regime: The income tax laws under the old tax regime allow carrying forward and set off of losses from capital assets. However, the question arises if the same benefit is available for all capital asset...
04 Jul, 2024, 10.13 AM IST
ITR filing: Credit card and forex spend reported separately by banks in AIS, know the impact and what you can do Income tax return: While filing your ITR make a note that banks are now reporting total forex spends as a separate category in addition to total credit card spends. According to Gopal Bohra, Partner, N.A. Shah Associates, "Transactions through inter...
02 Jul, 2024, 03.01 PM ISTITR filing for FY2023-24: Latest full list of authorised banks for tax payments available at e-Pay Tax service Taxpayers are offered wide range of modes for payment, including Net Banking, Debit card, Pay at Bank Counter. List of banks for tax payments available at e-Pay Tax service, as per the Income Tax Department’s website:
02 Jul, 2024, 02.35 PM ISTHow to file ITR-1 with salary, income from house property and other sources for FY 2023-24 (AY 2024-25) File ITR-1 online: Here is a step by step guide on how salaried individuals can file their income tax return using ITR-1 form easily on the income tax department's e-filing website. ITR-1 form is also known as Sahaj. Individuals having income from s...
02 Jul, 2024, 01.24 PM ISTHow to claim income tax refund online when filing ITR for FY 2023-24 How to claim income tax refund online: You may be eligible for a tax refund if you have paid more taxes than you owe. You can claim the refund when filing your income tax return (ITR) by the deadline of July 31, 2024 for FY 2023-24 (AY 2024-25).
02 Jul, 2024, 01.18 PM ISTGot Form 16 from your employer? Check these points before filing ITR Form 16 has all the essential information to file your income tax return easily. It's crucial to double-check that the information in Form 16 is accurate. The income tax department currently provides pre-filled ITR forms on its e-filing website. The...
01 Jul, 2024, 11.25 AM ISTPenalty for missing ITR filing last date: Who has to pay and who doesn't Penalty for late filing ITR: Under the Income-tax Act, 1961, a penalty or a late filing fee is levied when a taxpayer misses the last date to file income tax return. The late filing fee must be paid or else final submission of income tax return form...
29 Jun, 2024, 11.39 AM ISTITR filing: Comparison of ITR filing charges across different websites: Cleartax, TaxBuddy, Tax2Win, KoinX, TaxNodes, TaxSpanner ITR filing charges: This article compares the price of filing ITR across different third party websites like Clear, TaxBuddy, Tax2Win, KoinX, TaxNodes, Quicko and others. Filing of ITR is always free on the income tax department's e-filing ITR porta...
28 Jun, 2024, 11.18 AM ISTNew tax regime to old tax regime: How to choose old income tax regime when filing ITR for FY2023-24 New tax regime to old tax regime: Starting from April 1, 2023, if a taxpayer has not opted for the old tax system, their employer will deduct tax from their salary according to the new tax system. This change is because the new tax system will be th...
28 Jun, 2024, 11.18 AM ISTWhat is AIS, how to download it and how it helps taxpayers in ITR filing? What is AIS, how to download AIS: Annual Information Statement (AIS) is a statement introduced by the income tax department in 2021. This statement is a comprehensive which help individuals and other taxpayers to get access of most of their financia...
26 Jun, 2024, 05.20 PM ISTITR filing FY2023-24: How to register online on e-filing portal to file income tax return; a step-by-step guide How to register on e-filing portal to file ITR: To file your income tax return online, new taxpayers must first sign up online. Signing up on the e-Filing website enables you to utilize the various features and tax services offered by the portal. Be...
26 Jun, 2024, 05.12 PM ISTF&O addiction: CA discovers BTech student lost Rs 46 lakh in trading, shares another shocking fact In light of the escalating retail trading activity, regulatory bodies like Sebi and the RBI have formed an early warning group to monitor the situation closely, emphasizing the need for caution in F&O trading. In a recent post on social media, a CA ...
25 Jun, 2024, 03.14 PM ISTWho needs to file income tax return (ITR) in India for FY 2023-24 Who is required to file ITR mandatorily: The Income-tax Act, 1961 defines the situations where income tax return filing is mandatory for individuals. Under the income tax laws, ITR filing is mandatory if total taxable income exceeds the basic exempt...
21 Jun, 2024, 11.20 AM ISTShould you file ITR if your income is less than Rs 7 lakh with nil income tax? Income tax return: Taxpayers have to file ITR if their income level exceeds the basic exemption limit or they have conducted certain specified transactions. Experts say that most taxpayers have a misunderstanding that if tax is not payable then fili...
18 Jun, 2024, 01.11 PM ISTDocuments required for ITR filing: 10 documents you need to file income tax return Documents required for ITR filing: An individual should collect all the required documents such as Form 16, bank account statements, capital gains statement, depending on the incomes they have to make the ITR filing process easier. Here is the list ...
15 Jun, 2024, 04.36 PM ISTWhat is Form 26AS? How to download Form 26AS to file Income Tax Return (ITR) ITR filing for FY2023-24: Form 26AS is an important document for filing your income tax return (ITR). It shows the dates and amounts of advance tax payments and consolidates all your financial transactions.
12 Jun, 2024, 05.19 PM ISTITR filing forms for FY 2023-24 (AY 2024-25): Which income tax return form applies to you? ITR forms: The important part of ITR filing process is to identify the correct the income tax return form applicable to their incomes. Filing income tax return using wrong ITR form will make the filed ITR as defective ITR. Read on to know the correc...
10 Jun, 2024, 02.41 PM ISTITR filing: This is essential to get income tax refund credited to your bank account Income tax refund: The income tax department will scrutinise your filed returns and handle the refund once received. Note that having a validated bank account is essential for receiving of refunds.
05 Jun, 2024, 12.14 PM IST