ITR1
How to file ITR-2 form: 10 documents you need to file ITR-2
How to file ITR-2 form: ITR-2 can be filed using the income tax department's Excel or Java programs, or online through the e-filing portal. Let's look closer at who should file ITR-2 and the important documentation required for filing.
How to file ITR-2 online with salary, capital gains and other incomes for FY 2023-24 (AY 2024-25)?
ITR-2 can be filed using the Excel or Java utilities provided by the income tax department, or online directly through the e-filing portal. This guide outlines the most effective way to file ITR-2 online, including examples of reporting salary, capital gains, and other incomes in the tax return form.
What is the difference between ITR-1 and ITR-2 forms?
ITR forms to use: When you file your income tax return, it is imperative to select either ITR 1 or ITR 2, based on your income sources for the fiscal year. Utilizing an incorrect form may prompt correspondence from the tax authority, necessitating rectification. Therefore, it is crucial to use the appropriate form to avert this situation.
ITR filing 2023-24: Types of income not part of ITR-1 form
Individual taxpayers must file different income tax returns (ITR) based on their source of income and residence status. From AY 2024-25, the new tax regime will be the default option. Every year, you must select between the old and new tax regimes for that particular assessment year. Here is a look at a few important FAQs regarding ITR-1 form available on the Income Tax Department’s website.
Income Tax Return Filing 2024: Steps to file ITR without form 16
ITR filing: Some employees who receive a salary and self-employed individuals may not get Form 16. This can cause confusion when filing their Income Tax Return (ITR) because Form 16 is an essential document for this process.
How to file ITR for FY23-24: Claim deductions, exemptions carefully while filing income tax return or you may end up in jail
Two out of three respondents in our survey believed honest people pay more tax, while one out of five respondents felt that the tax authorities were lenient with dishonest people. “Taxpayers feel they are not getting anything in return for the tax paid. They use this belief as a justification for evading tax,” says Kaushik of TaxSpanner.com. Be careful while fining income tax return for the financial year 2024-25 or assessment year 2024-25.
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ITR filing FY 2023-24 FAQs: Name of taxpayer in ITR does not match with name in PAN database; here’s what you can do
ITR filing FY 2023-24: The Income Tax Department has recently published a set of commonly asked questions (FAQs) to assist taxpayers with their return filings for the Assessment Year 2024-25. These FAQs cover a range of important topics and are now available on the tax department's official website.
ITR-1 (Sahaj) can be filed if your income is below Rs 50 lakh; Check if you are eligible or not
ITR filing: As per CA Shreya Jaiswal you can file ITR-1 only if your total income does not exceed Rs 50 lakh during FY 2023-24 (AY 2024-25) and provided you have satisfied certain other conditions as prescribed. However if you even have Re 1 of capital gains or loss you won't be able to file ITR-1
Income tax return processing status: How much time it takes for tax department to process ITR
Processing of ITR: The income tax return (ITR) filing deadline for for the financial year 2023-24 (assessment year 2023-24) is July 31, 2024. It's crucial to file the ITR by the specified deadline to avoid penalties and late fees. Additionally, it's important to ensure that the Income Tax Department promptly processes the filed ITR.
How 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 salary, house property, interest and dividend incomes can use ITR-1 to file income tax return.
ITR filing FY2023-24: Did you get your Form 16? How to download Form 16
It is that time of the year when you probably hear your colleagues discussing whether the employer has issued Form 16. If you have recently joined the workforce, you may get a little confused about what is a Form 16 and how to get it. Don't worry. Here is all you need to know about Form 16 and how to download your Form 16.
New 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 the automatic choice for the fiscal year 2023-24.
ITR 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 correct tax return form applicable to your incomes.
Moonlighting and ITR filing: Why moonlighters should file income tax return, form to use, other details
Moonlighting, driven by side hustles and remote work opportunities post Covid-19, requires moonlighters to carefully choose the right ITR form, consider the presumptive tax regime, and submit Form 10-IEA online for tax benefits under the old regime.
Income tax return: Who is not eligible to file ITR-1 form in AY2024-25
This income tax return (ITR) can be filed by a Resident (other than Not Ordinarily Resident) Individual with total income from any of the following sources up to Rs 50 lakh. Sources Salary / Pension One House Property Other sources (Interest, Family Pension, Dividend etc.) Interest from Savings Accounts; Interest from Deposits (Bank /Post Office / Cooperative Society); Interest from Income Tax Refund; Interest received on Enhanced Compensation; Any other Interest Income
Income tax return: My wife is a homemaker who earns interest income below Rs 2.5 lakh from FDs, RDs. Should she file her ITR?
Our panel of experts will answer questions related to any aspect of personal finance. If you have a query, mail it to us right away.
Income tax filing: 3 updated utilities available for filing this ITR form for AY 2024-25; find out which one works best for you
Income tax filing: Are you an individual or Hindu Unidivided Family who have income from business or profession and do not want to opt for presumptive taxation scheme? Then you may need to file ITR-3. To help you file ITR-3 easily, the income tax department has launched online, offline using Java and Excel based utilities. But which one is better?
ITR-1, ITR-2, ITR-4 forms for FY 2023-24 (AY 2024-25) available now on e-filing income tax portal
ITR filing forms for FY 2023-24 (AY 2024-25): As of April 1, 2024, the online ITR forms have been enabled on the e-filing website. This means that taxpayers who are eligible to file their tax returns using these forms can now proceed to file their ITR for the financial year 2023-2024.
CBDT enables ITR filing for FY 24; 23,000 returns filed in 4 days
ITR Form 1 (Sahaj) and ITR Form 4 (Sugam) are simpler forms that cater to a large number of small and medium taxpayers. ITR-2 is filed by people having income from residential property).
Offline ITR-1,4 forms: Income tax department releases JSON utilities for FY 2023-24 (AY 2024-25)
Offline ITR forms for AY 2024-25: The JSON utility ITR forms have been released by the income tax department. The offline forms are released for ITR-1 and ITR-4. The last date to file ITR for FY 2023-24 (AY 2024-25) is July 31, 2024. This deadline is applicable on taxpayers whose accounts are not required to be audited (usually those who file income tax return using ITR 1, 2 and 4).
Rich taxpayers will now need to give more details, ITR-2, ITR-3 for FY 2023-24 notified by CBDT
Taxpayers earning over Rs 50 lakh or owning multiple houses must provide additional information when filing income tax returns (ITR). The Central Board of Direct Taxes (CBDT) has released ITR-2 and ITR-3 forms for the FY 2023-24 (AY 2024-25), with a deadline of July 31, 2024. ITR-2 and ITR-3: Income tax return (ITR) forms have been notified by the central board of direct taxes (CBDT) via an notification in e-gazette. ITR-2 is to be filed by those who have capital gains income and are ineligible to file ITR-1. Do note that ITR-3 is to be filed by those entities who have income from business or profession.
New ITR forms: Taxpayers will have to disclose cash receipts, all bank accounts
New ITR forms: Resident individuals with income up to Rs 50 lakh, deriving earnings from salary, a single house property, other sources (interest), and agricultural income up to Rs 5,000, can file ITR 1, or Sahaj. In this filing, individuals will be required to furnish details of all Indian bank accounts active in the previous financial year, specifying the type of account.
ITR-1,4 for income tax return filing FY2023-24 notified by CBDT; last date to file July 31, 2024
The Central Board of Direct Taxes (CBDT) has notified the income tax return forms for current financial year i.e. FY 2023-24 (AY 2024-25). The ITR forms have been issued more than three months before the current financial year ends. The last date to file ITR for FY 2023-24 is July 31, 2024.
Who can and cannot file income tax return using ITR-1 for FY 2022-23?
Not everybody can file ITR-1 (Sahaj) especially if they have any income from capital gains or income from cryptocurrencies or virtual digital assets (VDA), multiple house property incomes. Apart from this, there are other transactions which might make someone ineligible for filing ITR-1. Read on to find more about this.
How to file ITR-1 for FY 2022-23 with salary, income from house property and other sources
The income tax return filing season is upon us. Most salaried individuals are eligible to file their tax returns using ITR-1 form. This tax return form is also known as 'Sahaj'. However, not many people know the steps to file ITR-1 on the income tax e-filing portal. Here is a step by step guide of filing ITR-1 on the income tax e-filing portal.
Income tax return filing FY2022-23 (AY2023-24): Who can use ITR 1, who cannot?
The last date for income tax return (ITR) for FY2022-23 (AY2023-24) will be July 31, 2023. It is important to consider various factors such as sources of income, residential status, asset/liability reporting requirements, etc. to decide which ITR form applies to you.
Income tax return filing: Online ITR 1, 4 forms for FY 2022-23 (AY 2023-24) available on e-filing website
The income tax department has enabled ITR forms 1 and 4 on the e-filing website. The forms have been enabled almost one month after the tax department released the excel utility of the forms. The last date for filing income tax return for FY 2022-23 (AY 2023-24) is July 31, 2023 unless the date is extended by the government.
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