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@Rs. 775 (including taxes) | @Rs. 2499 (including taxes) | @Rs. 3499 (including taxes) |
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Applicable for resident individuals having salary and interest income | Applicable for residents having Capital Gains and Presumptive Income | Applicable for Non-Residents having all sources of Income with Annual Turnover of upto Rs. 5 lakhs | |
Salary Income (Form 16/Salary Certificate) | ![]() | ![]() | ![]() |
Interest Income (Fixed Deposit or Savings Bank Interest) | ![]() | ![]() | ![]() |
Rental Income from House Property | ![]() | ![]() | ![]() |
Capital Gains/Losses | ![]() | ![]() | ![]() |
Presumptive Business/Professional Income (Section 44 AD, 44 ADA) | ![]() | ![]() | ![]() |
Additional Tax Investments not shown in Form 16 | ![]() | ![]() | ![]() |
Tax Calculation+XML+ITR Form Provided | ![]() | ![]() | ![]() |
Detailed Interest Calculation | ![]() | ![]() | ![]() |
Reviewed and Prepared by Tax Experts | ![]() | ![]() | ![]() |
CA Assisted Filing | ![]() | ![]() | ![]() |
26 AS Verification | ![]() | ![]() | ![]() |
Consult with Tax Expert | ![]() | ![]() | ![]() |
Revised Return Filing | ![]() | ![]() | ![]() |
Salaried Employees with ESOP in Domestic Companies | ![]() | ![]() | NA |
Tracking of Refund of the Return | ![]() | ![]() | ![]() |
Tracking of Assesment of the Return | ![]() | ![]() | ![]() |
ITR Rectifications | ![]() | ![]() | ![]() |
Chat, WhatsApp, Phone, Email Support in return preparation & filing | ![]() | ![]() | ![]() |
The Income Tax Return Filing portal is running a bit slow owing to the overhaul of the existing portal by the department. Hence, the ITR filing process is expected to see some delay.
We are constantly keeping a watch on the website and your emails and would file the same as soon as the site permits.
Income tax is the taxes paid on the total income earned during the relevant financial year at the rates prescribed.
It is a prescribed form through which particulars of income earned during a financial year and taxes paid thereon is communicated to the Department.
The return form can be downloaded from the site http://www.incometaxindia.gov.in or http://incometaxindiaefiling.gov.in
The table below gives a brief overview of all forms and its applicability:
Return Form | Brief Description |
---|---|
ITR – 1 (Also known as SAHAJ) | It is applicable to an individual having –
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ITR – 2 | It is applicable to an individual or a Hindu Undivided Family having income from any source other than “Profits and gains of business or profession” |
ITR – 2A | It is applicable to an individual or a Hindu Undivided Family having income from Salary, more than one House Property but does not have Capital Gain or PGBP. |
ITR – 3 | It is applicable to an individual or a Hindu Undivided Family who is a partner in a firm and income chargeable to income-tax in his/its hands under the head “Profits or gains of business or profession” does not include any income except the income by way of any interest, salary, bonus, commission or remuneration, by whatever name called, due to, or received by him from such firm. |
ITR – 4S | Also known as SUGAM is applicable to individuals and HUFs who have opted for the presumptive taxation scheme of section 44AD/ 44AE. |
ITR – 4 | It is applicable to an individual or a Hindu Undivided Family who is carrying on a proprietary business or profession. |
ITR – 5 | It is applicable to a person being a firm, LLP, AOP, BOI, artificial juridical person, co-operative society and local authority. However, a person who is required to file the return of income under section 139(4A) or 139(4B) or139(4C) or 139(4D) shall not use this form (i.e., trusts, political party, institutions, colleges, etc.) |
ITR – 6 | It is applicable to a company, other than a company claiming exemption under section 11 (charitable/religious trust can claim exemption under section 11). |
ITR – 7 | It is applicable to a person including companies who are required to furnish return under section 139(4A) or139(4B) or 139(4C) or 139(4D) (i.e., trusts, political party, institutions, colleges, etc.). |
ITR – V | It is the acknowledgement of filing of return of income |
Now the processing of return filed will be through Aadhaar Number, where, you can link your Aadhaar Number with your PAN and get rid of sending ITR V to CPC, Bangalore
For electronic verification of return, a code (EVC) is generated. EVC will be a unique number linked to assessee’s PAN. One EVC can be used to validate one return, irrespective, of assessment year or type of return.
Note: EVC generated via Aadhaar Card will be valid only for 10 minutes and in any other case, it will be valid for 72 hours.
Taxpayers can generate EVC by any of the four ways given below:
Many Individuals assume that filing of return is a harrowing experience. But nowadays an individual can file a return very easily and even faster. Filing of Income tax return helps an individual in many ways. It helps an individual to manage his financial affairs effectively. The benefits of filing of income tax return are as follow:
With e-filing income tax return, the processing speed is kicked up and secures personal information, get instant notification of Income Tax Return receipt, check the status of tax return or tax refund and get acknowledgment receipt immediately.
Online income tax return allows to pay taxes at any time and from anywhere through the net-banking account without being in the long queue at the Bank.
Any Individual or group of Individual or artificial bodies who have earned income during the previous years are required to pay Income tax on it. These are Individuals, Hindu Undivided Family [HUF], Association of Persons [AOP], Body of individuals [BOI], Firms, Companies, Local authority, Artificial juridical person.
| 31st July |
| 30th November |
| 30th September |
| 30th September |
| 30th September |
The loss sustained shall be eligible for carry forward to subsequent years and set off against profit earned in subsequent years only if, a loss return is filed before due date.
Interest on tax due shall be paid. If the return is not filed up to the end of the assessment year, in addition to interest, a penalty of Rs. 5,000 shall be levied under section 271F.
There is an option to file Belated Return. It shall be filed within a period of one year from the end of the assessment year or before completion of the assessment, whichever is earlier. It is to be noted that Belated Return can be filed but interest and penalty shall be levied.
Interest and penalty is followed by prosecution if, tax not paid. The prosecution can lead to rigorous imprisonment from 3 months to 2 years (when the tax sought to be evaded exceeds Rs. 25,00,000 the punishment could be 6 months to 7 years).
Revision of return filed is possible if, original return is filed within due date and Department has not completed the assessment relevant to that year. Mistake shall be genuine and bona fide and shall not be any deliberate mistake.
If the income tax liability in any financial year is more than Rs. 10000 then, advance tax shall be paid in installments during the year itself.
Due Date of Installment | Amount Payable |
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On or before 15th September | Not less than 30% of the advance tax liability |
On or before 15th December | Not less than 60% of the advance tax liability |
On or before 15th March | 100% of the advance tax liability |
Due Date of Installment | Amount Payable |
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On or before 15th June | Not less than 15% of the advance tax liability |
On or before 15th September | Not less than 45% of the advance tax liability |
On or before 15th December | Not less than 75% of the advance tax liability |
On or before 15th March | 100% of the advance tax liability |
If advance tax is not paid or paid less the mandate amount then, interest shall be paid @ 1 per cent simple interest per month on the defaulted amount.
If the income is below exemption limit then it is not mandatory to file the return but you may file the return as you cannot file the return for past years once the due date lapses. In addition, ITR is valid document for bank credit, housing loan etc.
It is mandatory to file your income tax return if your income is above the maximum exemption limit. Non-filing of income tax return attracts penalty of Rs 5000 and interest u/s 234A, 234B, and 234C accordingly. Further, if the original return not filed within the due date then an individual cannot file a revise return u/s 139(5) of the IT act. In addition, losses such as business loss, capital loss and loss in owning and maintenance of racehorse cannot be carried forward as per section 80 of the IT act.
Mere deduction of TDS does not give you exemption from filing of IT return. Even if your employer has deducted TDS from your income, you must file your return. To claim the TDS amount,filing of IT return is mandatory.
Refund can be claimed only by filing the income tax return timely. The amount of refund will be deposited in the Bank Account provided by you while filing your return of income. The refund amount will be processed by IT department once the return is processed and 143(1) Intimation is received by you.
The e-filing portal has 2 options of filing the return with DSC and without DSC. If you opt for filing return without DSC then you must also physically submit the printed copy of ITRV Acknowledgment by speed Post or Normal Post to CPC Bangalore. But for certain entities/individuals, e-filing of return is mandatory with DSC: