ITRS
![ITR filing: How to file income tax return when you have more than one Form 16 due to job change](https://img.etimg.com/thumb/msid-111771730,width-100,height-75,resizemode-4/wealth/tax/itr-filing-how-to-file-income-tax-return-when-you-have-more-than-one-form-16-due-to-job-change.jpg)
ITR filing: How to file income tax return when you have more than one Form 16 due to job change
Form 16 is a TDS certificate that provides information on the salary paid and tax deducted by an employer. Employers must issue Form 16 to employees by June 15. This allows individuals to file their ITR by July 31, 2024 for the financial year 2023-24. Those who change jobs in a year need Form 16 from each employer.
![Will ITR filing deadline be extended beyond July 31, 2024? ICAI writes to tax department with 9 issues regarding Form 26AS, TIS, AIS, e-filing income tax return forms](https://img.etimg.com/thumb/msid-111756904,width-100,height-75,resizemode-4/wealth/personal-finance-news/will-itr-filing-deadline-be-extended-beyond-july-31-2024-icai-writes-to-tax-department-with-9-issues-regarding-form-26as-tis-ais-e-filing-income-tax-return-forms.jpg)
Will ITR filing deadline be extended beyond July 31, 2024? ICAI writes to tax department with 9 issues regarding Form 26AS, TIS, AIS, e-filing income tax return forms
Will the ITR filing deadline be extended? Various associations of chartered accountants have contacted the tax department to highlight the challenges faced by taxpayers and professionals when using the e-filing ITR portal.
![Last date to file ITR is July 31; Taxpayers take to social media to complain about issues with e-filing portal](https://img.etimg.com/thumb/msid-111654192,width-100,height-75,resizemode-4/wealth/personal-finance-news/last-date-to-file-itr-is-july-31-taxpayers-take-to-social-media-to-complain-about-issues-with-e-filing-portal.jpg)
Last date to file ITR is July 31; Taxpayers take to social media to complain about issues with e-filing portal
Glitches on e-filing ITR portal: It's important to keep in mind that if you wait until closer to the deadline to file, you may experience technical difficulties on the e-filing portal and encounter other issues. Therefore, it's advisable to complete your filing well before the due date to avoid potential problems.
![How to file ITR online: A step-by-step guide](https://img.etimg.com/thumb/msid-111745881,width-100,height-75,resizemode-4/wealth/tax/how-to-file-itr-online-a-step-by-step-guide.jpg)
How to file ITR online: A step-by-step guide
How to file ITR: The deadline for filing your income tax return (ITR) for the financial year 2023-24 is July 31, 2024. Many individuals will likely be busy completing the filing process. If you haven't filed your ITR yet, it's important to understand all the necessary details and steps to meet the deadline. Here is all you need to know about the ITR filing process according to the Income Tax Department's website.
![Save income tax with medical expenses: Claim deduction while filing ITR u/s 80DD and 80U on treatment cost of a disabled person](https://img.etimg.com/thumb/msid-111685622,width-100,height-75,resizemode-4/wealth/tax/save-income-tax-with-medical-expenses-claim-deduction-while-filing-itr-u/s-80dd-and-80u-on-treatment-cost-of-a-disabled-person.jpg)
Save income tax with medical expenses: Claim deduction while filing ITR u/s 80DD and 80U on treatment cost of a disabled person
Income tax return filing: You are eligible to claim a tax refund for expenses incurred for a disabled person including medical treatment. These deductions can be claimed either under section 80DD or 80U. However if the disability is autism, cerebral palsy or multiple disability then Form-10IA needs to be filed. The deadline to file Form-10IA is July 31, 2024.
![Dividend received from shares and MF is taxable; Here’s how to reduce your tax outgo from dividend income in your ITR](https://img.etimg.com/thumb/msid-111655050,width-100,height-75,resizemode-4/wealth/tax/dividend-received-from-shares-and-mf-is-taxable-heres-how-to-reduce-your-tax-outgo-from-dividend-income-in-your-itr.jpg)
Dividend received from shares and MF is taxable; Here’s how to reduce your tax outgo from dividend income in your ITR
Dividend from shares and MF: You have to pay income tax on all dividend received, however there is a way using which you can reduce the net tax outgo on dividend income. "Only interest expenses are allowed as a deduction from dividend income," says Neeraj Agarwala, Partner, Nangia & Co LLP.
Reporting foreign income in income tax return: How to report foreign income, equity share in ITR form
Reporting foreign income in ITR: Individuals who have assets and income from overseas sources are mandated to utilize either ITR 2 or ITR 3 forms when filing their tax returns. This is because Schedule FA, which is specifically designed for reporting foreign assets and income, can be found in these forms.
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.
Filing a nil ITR: 6 unexpected benefits from getting a travel visa, loan, scholarship and more
Benefits of filing an ITR: There are multiple benefits of filing an income tax return (ITR). As per Swapnil Bhaskar, Chief of Strategy, Niyo, "Filing an ITR can significantly help an individual secure a travel visa. ITR provides proof of income and hence many embassies ask for the last three years' ITR to evaluate applicant's financial stability and history."
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.
You won’t get any income tax refund unless you verify your ITR; here’s how to verify ITR online, offline
Income tax return verification: You filed income tax return will be cancelled if you don't verify it within 30 days of filing of ITR. There are multiple ways to verify an filed ITR including a offline process. Read below to find out various ways of verifying a income tax return (ITR) online and offline.
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
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 not appearing in your Form 16, provided you have legitimate proof for it."
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 international credit cards are currently exempt from TCS, and accordingly, banks do not collect TCS. However, banks report all remittances under LRS through TCS filing, irrespective of whether TCS is collected or not."
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 e-verification: How to e-verify ITR, timelimit, other important FAQs
The ITR is deemed invalid or will not be regarded as filed if the assessee does not validate it within the allotted period. e-Verification is the most convenient and instant way to verify your ITR.
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