10 Benefits of Filing Income Tax Return (ITR)

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…

ITR 4 – Online Filing Procedure

ITR 4 - Online Filing Procedure 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 Act. This form is…

ITR 2: Your Guide to Income Tax Return Filing

ITR 2: Your Guide to Income Tax Return Filing 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…

ITR 1 Filing:  Guide to File Income Tax Returns Online

ITR 1 Filing: Guide to File Income Tax Returns Online 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 nature…

ITR Filing in India: Your Complete Guide

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…

How do I know if I have an Income Tax Notice?

    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…

What happens if we do not respond to Income Tax Notice?

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…

What is Income Tax Notice?

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…

Extension of income tax return filing deadline for FY-2018-19

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…

Extension of Due Date for Furnishing Income Tax Returns for AY 2020-21

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…