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Post by: Renu Suresh in Income Tax
10 Benefits of Filing Income Tax Return (ITR) Tax payment becomes obligatory when income surpasses a certain threshold, facilitated by submitting an Income Tax Return (ITR). The ITR is a form detailing income from the previous financial year, from April…
Post by: Renu Suresh in Income Tax
A Guide to File ITR-4 Online for the AY 2024-2025 The ITR 4 Form, also known as the Sugam form, is tailored for taxpayers under the presumptive income scheme as per Sections 44AD, 44ADA, and 44AE of the Income Tax…
Post by: Renu Suresh in Income Tax
ITR 2 Filling In India, taxpayers are categorized based on Income, and specific Income Tax Return (ITR) forms are assigned to individuals according to their income sources. Among these forms, ITR-2 is designated for individuals and Hindu Undivided Families who…
Post by: Renu Suresh in Income Tax
How to File ITR 1 Sahaj Form Online for AY 2024-25 As you know, filing an Income Tax Return involves submitting the corresponding income tax form to the relevant tax department. The selection of the appropriate form depends on the…
Post by: Renu Suresh in Income Tax
ITR Filing in India: Your Complete Guide In India, Income Tax Return (ITR) filings are essential. They capture your financial activity during a fiscal year—income, investments, deductions, and taxes paid. ITR reflects your contribution to public services and infrastructure. Whether…
Post by: Sanya Warriar in Income Tax
How do I know if I have an Income Tax Notice? When a taxpayer files an Income Tax Return (ITR) with the department, the department processes the return. It may issue a notice to the taxpayer, which could…
Post by: Sanya Warriar in Income Tax
What happens if we do not respond to Income Tax Notice? Income Tax Notice is a correspondence sent by the Income Tax (IT) Department when they want to raise an inquiry against the returns filed by the taxpayer. There are…
Post by: Sanya Warriar in Income Tax
What is Income Tax Notice? An Income Tax (IT) Notice is a communication sent by the Income Tax Department when they have questions or need more information about a previously filed Income Tax Return(ITR). These notices may ask the taxpayer…
Post by: Chitria Chattaraj in Income Tax
Extension of income tax return filing deadline for FY-2018-19 The government has been taking several pro-active steps for taxpayers considering the unprecedented situations created by the pandemic. What comes as the most recent step for making compliance easier is the…
Post by: Renu Suresh in Income Tax
Extension of Due Date for Furnishing Income Tax Returns for AY 2020-21 The Central Board of Direct Taxation has further extended the due date for furnishing the income tax returns for the AY 2020-2021 because of the constraints being faced…