Income tax e-filing portal https //www.incometax.gov.in/iec/foportal/

Facebook Tweet Pin LinkedIn Email Shares 0 A document known as an income tax return (ITR) is used to submit data to the income tax division regarding your earnings and taxes. If the ITR reveals that too much tax was paid in a given year, the person will be entitled to an income tax refund from the income tax department. Electronically submitting your ITR is known as “e-filing.” E-filing, which stands for electronic filing, is possible through the income tax website. All taxpayers can use e-filing. Key Takeaways • An income tax return (ITR) is a document to report earnings and taxes, with e-filing being the electronic submission method. • Timely ITR filing avoids penalties, interest, and Income Tax Department inspections. • Filing ITR on time allows for claiming refunds, building financial history, and improving credit scores. • Gather necessary documents, check eligibility, and choose the appropriate ITR form. • Understand income tax slab rates and deductions applicable for the assessment year. • Follow the step-by-step process on the income tax e-filing portal to register, enter details, choose the form, compute taxes, validate, and submit the ITR. • Verify the return through e-verification or by sending a physical copy to CPC Bengaluru. • After successful upload, an income tax acknowledgement will be sent to your email address. Why is a Timely ITR Filing so Important? One of the primary justifications for Filing an ITR on time is to avoid penalties and interest. If your ...

Income Tax Return (ITR) filing online for AY 2023-24: As many as 14,65,641 ITRs for income earned in FY 2022-23 were filed till May 28, of which over 12 lakh returns by verified while 3834 verified ITRs were processed, according to data on the Income Tax e-filing website at the time of writing. Salaried employees will be soon able to file their returns for AY 2023-24 after receiving Form 16 from their employers by June 15. As the Most of the salaried employees would be eligible for ITR-1 (Sahaj), which is applicable when the total income of the taxpayer is not more than Rs 50 lakh during the financial year and his/her income is only from salary, one house property, family pension income, agricultural income up to Rs 5000 and other sources such interest from bank deposits (including savings account interest) interest from Income Tax Refund, any other interest income etc. Deductions under Chapter VI A of Income Tax Act: Know how much tax may be saved Steps to file ITR online for salaried Step 1: Visit Income Tax e-Filing portal, https://www.incometax.gov.in/iec/foportal/ Step-2: Login to e-Filing portal by entering user ID (PAN), Password, Captcha code and click ‘Login’. Step 3: Click on the ‘e-File’ menu and then click the ‘Income Tax Return’ link. Also Read: Step 4: According to information on the Income Tax website, PAN will be auto-populated on the Income Tax Return page. You need to select ‘Assessment Year’, ‘ITR Form Number’, ‘Filing Type’ as ‘Original/Revised Return’ ...

Income Tax Return 2023: Check ITR Filling Last Date, How to e-File Income Tax Returns Online - all you need to know detail process Income Tax Return 2023: Last year, the Government extended ITR filing due dates for various reasons from July 31 to September 30. However, for this year, no extension date has been announced so far. • • • • • Income Tax Return 2023: The last date for filing the Income Tax return for the Financial Year 2022-23 is July 31. The new ITR forms for the assessment year 2023-24 will start on April 1. Citizens who have income above the basic exemption limit of Rs 2.5 lakh per annum are required to file ITR before the due date. However, thanks to exemptions, citizens having taxable income up to Rs 5 lakh have to pay no tax. Below is the procedure, the documents, and the steps to file ITR: Income Tax Return 2023: How to file return of income? As stated by the Income-tax department official portal, a return of income can be filed either in hard copy at the local office of the Income-tax Department or can be electronically filed at Income Tax Return 2023: How to file return of income online? Step 1: Visit the Income Tax e-Filing portal, Step 2: Using your username, password, date of birth, and Captcha Code log in to your account. Step 3: Click on the 'e-File' menu and click the 'Income Tax Return' link and tap on 'continue'. Step 4: Read the Instructions carefully and fill all the applicable and mandatory fields of the Online ITR Form. Step 5: Once you sele...

Paying advance tax can help you better manage your taxes and also avoid interest on outstanding dues. Here’s all you need to know. The ITR-filing season can be stressful for many taxpayers, given the time and effort it takes to collate all the information required, organise it and then fill up the return form. Advance tax payment is an effective strategy that can reduce this hard work. Advance tax is a tax-collection system in which you can pay your tax liability in instalments rather than in a lump sum for the full financial year. In this blog, we will understand advance tax, how it is calculated, and how and when to pay it. What Is Advance Tax? Advance tax is the income-tax amount a taxpayer pays in advance for a particular financial year. Generally, taxpayers pay the outstanding tax at the end of the financial year. Because of this one-time payment, they must pay substantial amounts in a single go. But in the case of advance tax, taxpayers can pay the estimated tax in four instalments in the current year only, which helps reduce their financial burden. Advance tax is applicable to individuals, self-employed professionals, and businesses whose estimated tax liability for the financial year exceeds a certain threshold. Let’s find out who is required to pay advance tax. Who Should Pay Advance Tax? As per Section 208 of the Income Tax Act, individuals with an estimated tax liability of Rs. 10,000 or higher for a financial year must make advance tax payments. Also, taxpayers...

Income Tax Return (ITR) filing online for AY 2023-24: As many as 14,65,641 ITRs for income earned in FY 2022-23 were filed till May 28, of which over 12 lakh returns by verified while 3834 verified ITRs were processed, according to data on the Income Tax e-filing website at the time of writing. Salaried employees will be soon able to file their returns for AY 2023-24 after receiving Form 16 from their employers by June 15. As the Most of the salaried employees would be eligible for ITR-1 (Sahaj), which is applicable when the total income of the taxpayer is not more than Rs 50 lakh during the financial year and his/her income is only from salary, one house property, family pension income, agricultural income up to Rs 5000 and other sources such interest from bank deposits (including savings account interest) interest from Income Tax Refund, any other interest income etc. Deductions under Chapter VI A of Income Tax Act: Know how much tax may be saved Steps to file ITR online for salaried Step 1: Visit Income Tax e-Filing portal, https://www.incometax.gov.in/iec/foportal/ Step-2: Login to e-Filing portal by entering user ID (PAN), Password, Captcha code and click ‘Login’. Step 3: Click on the ‘e-File’ menu and then click the ‘Income Tax Return’ link. Also Read: Step 4: According to information on the Income Tax website, PAN will be auto-populated on the Income Tax Return page. You need to select ‘Assessment Year’, ‘ITR Form Number’, ‘Filing Type’ as ‘Original/Revised Return’ ...

Facebook Tweet Pin LinkedIn Email Shares 0 A document known as an income tax return (ITR) is used to submit data to the income tax division regarding your earnings and taxes. If the ITR reveals that too much tax was paid in a given year, the person will be entitled to an income tax refund from the income tax department. Electronically submitting your ITR is known as “e-filing.” E-filing, which stands for electronic filing, is possible through the income tax website. All taxpayers can use e-filing. Key Takeaways • An income tax return (ITR) is a document to report earnings and taxes, with e-filing being the electronic submission method. • Timely ITR filing avoids penalties, interest, and Income Tax Department inspections. • Filing ITR on time allows for claiming refunds, building financial history, and improving credit scores. • Gather necessary documents, check eligibility, and choose the appropriate ITR form. • Understand income tax slab rates and deductions applicable for the assessment year. • Follow the step-by-step process on the income tax e-filing portal to register, enter details, choose the form, compute taxes, validate, and submit the ITR. • Verify the return through e-verification or by sending a physical copy to CPC Bengaluru. • After successful upload, an income tax acknowledgement will be sent to your email address. Why is a Timely ITR Filing so Important? One of the primary justifications for Filing an ITR on time is to avoid penalties and interest. If your ...

Paying advance tax can help you better manage your taxes and also avoid interest on outstanding dues. Here’s all you need to know. The ITR-filing season can be stressful for many taxpayers, given the time and effort it takes to collate all the information required, organise it and then fill up the return form. Advance tax payment is an effective strategy that can reduce this hard work. Advance tax is a tax-collection system in which you can pay your tax liability in instalments rather than in a lump sum for the full financial year. In this blog, we will understand advance tax, how it is calculated, and how and when to pay it. What Is Advance Tax? Advance tax is the income-tax amount a taxpayer pays in advance for a particular financial year. Generally, taxpayers pay the outstanding tax at the end of the financial year. Because of this one-time payment, they must pay substantial amounts in a single go. But in the case of advance tax, taxpayers can pay the estimated tax in four instalments in the current year only, which helps reduce their financial burden. Advance tax is applicable to individuals, self-employed professionals, and businesses whose estimated tax liability for the financial year exceeds a certain threshold. Let’s find out who is required to pay advance tax. Who Should Pay Advance Tax? As per Section 208 of the Income Tax Act, individuals with an estimated tax liability of Rs. 10,000 or higher for a financial year must make advance tax payments. Also, taxpayers...

Income Tax Return 2023: Check ITR Filling Last Date, How to e-File Income Tax Returns Online - all you need to know detail process Income Tax Return 2023: Last year, the Government extended ITR filing due dates for various reasons from July 31 to September 30. However, for this year, no extension date has been announced so far. • • • • • Income Tax Return 2023: The last date for filing the Income Tax return for the Financial Year 2022-23 is July 31. The new ITR forms for the assessment year 2023-24 will start on April 1. Citizens who have income above the basic exemption limit of Rs 2.5 lakh per annum are required to file ITR before the due date. However, thanks to exemptions, citizens having taxable income up to Rs 5 lakh have to pay no tax. Below is the procedure, the documents, and the steps to file ITR: Income Tax Return 2023: How to file return of income? As stated by the Income-tax department official portal, a return of income can be filed either in hard copy at the local office of the Income-tax Department or can be electronically filed at Income Tax Return 2023: How to file return of income online? Step 1: Visit the Income Tax e-Filing portal, Step 2: Using your username, password, date of birth, and Captcha Code log in to your account. Step 3: Click on the 'e-File' menu and click the 'Income Tax Return' link and tap on 'continue'. Step 4: Read the Instructions carefully and fill all the applicable and mandatory fields of the Online ITR Form. Step 5: Once you sele...

Income Tax Return (ITR) filing online for AY 2023-24: As many as 14,65,641 ITRs for income earned in FY 2022-23 were filed till May 28, of which over 12 lakh returns by verified while 3834 verified ITRs were processed, according to data on the Income Tax e-filing website at the time of writing. Salaried employees will be soon able to file their returns for AY 2023-24 after receiving Form 16 from their employers by June 15. As the Most of the salaried employees would be eligible for ITR-1 (Sahaj), which is applicable when the total income of the taxpayer is not more than Rs 50 lakh during the financial year and his/her income is only from salary, one house property, family pension income, agricultural income up to Rs 5000 and other sources such interest from bank deposits (including savings account interest) interest from Income Tax Refund, any other interest income etc. Deductions under Chapter VI A of Income Tax Act: Know how much tax may be saved Steps to file ITR online for salaried Step 1: Visit Income Tax e-Filing portal, https://www.incometax.gov.in/iec/foportal/ Step-2: Login to e-Filing portal by entering user ID (PAN), Password, Captcha code and click ‘Login’. Step 3: Click on the ‘e-File’ menu and then click the ‘Income Tax Return’ link. Also Read: Step 4: According to information on the Income Tax website, PAN will be auto-populated on the Income Tax Return page. You need to select ‘Assessment Year’, ‘ITR Form Number’, ‘Filing Type’ as ‘Original/Revised Return’ ...

Income Tax Return 2023: Check ITR Filling Last Date, How to e-File Income Tax Returns Online - all you need to know detail process Income Tax Return 2023: Last year, the Government extended ITR filing due dates for various reasons from July 31 to September 30. However, for this year, no extension date has been announced so far. • • • • • Income Tax Return 2023: The last date for filing the Income Tax return for the Financial Year 2022-23 is July 31. The new ITR forms for the assessment year 2023-24 will start on April 1. Citizens who have income above the basic exemption limit of Rs 2.5 lakh per annum are required to file ITR before the due date. However, thanks to exemptions, citizens having taxable income up to Rs 5 lakh have to pay no tax. Below is the procedure, the documents, and the steps to file ITR: Income Tax Return 2023: How to file return of income? As stated by the Income-tax department official portal, a return of income can be filed either in hard copy at the local office of the Income-tax Department or can be electronically filed at Income Tax Return 2023: How to file return of income online? Step 1: Visit the Income Tax e-Filing portal, Step 2: Using your username, password, date of birth, and Captcha Code log in to your account. Step 3: Click on the 'e-File' menu and click the 'Income Tax Return' link and tap on 'continue'. Step 4: Read the Instructions carefully and fill all the applicable and mandatory fields of the Online ITR Form. Step 5: Once you sele...