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PERSONAL FINANCE FINANCIAL PLANNING TAX PLANNING BANK ACCOUNTS CREDIT CARDS INSURANCE DEPOSITS STOCKS MUTUAL FUNDS
INCOME TAX RETURNS FOR FY 2015-16 |
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WHO HAS TO FILE RETURNS AND WHO HAS TO E-FILE IT RETURNS ?
Dated 08.03.2017 : Have you submitted your IT Returns for FY 1015-16 ? If not ,you have time to submit without penalty till 31.03.2017 .
HURRY UP AND SUBMIT RETURNS AND AVOID PENALTY . BREAKING NEWS dated 29.07.2016 : Last date for filing IT Returns for Financial Year 2015-16 has been extended up to 05.08.2016 through out India . For state of Jammu and Kashmir , the last date has been fixed at 31.08.2016 . IT RETURNS FOR FY 15-16 |
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If you are an individual (other than a company or a firm) than you will have to file your return if your Gross Total Income before any deductions is more than the exemption limit. Deductions in this case will be the usual 80C to 80U deductions. In case you are an NRI and you have earned any taxable income or any taxable income has accrued in India then you have to file an income tax return in India. If you are an individual or HUF having total Income exceeding Rs 5.00 Lakhs or claiming any refund in the return ( Except one who is of the age of 80 years or more furnishing ITR Forms 1 or 2 only ) ) ,you have to necessarily e-file your IT Return . You also have to e-file your IT Returns if you are an individual or HUF , being Resident of india having any Foreign asset /income or claiming any foreign tax relief .
There are four types of simplified returns ITR1 - SAHAJ , ITR2 , ITR2A and ITR4S- SUGAM , among others
FOR THE FINANCIAL YEAR 2015-16 ( ASSESSMENT YEAR 2016-17 ) , FOLLOWING FORMS ARE AVAILABLE ON LINE :
ITR 1 ( SAHAJ ) , ITR 2 , ITR 2A , ITR 3 AND ITR 4S ( SUGAM) TO DOWN LOAD CLICK below :
CLICK HERE TO DOWNLOAD ITR 1- SAHAJ CLICK HERE TO DOWNLOAD ITR 2 CLICK HERE TO DOWNLOAD ITR 2A CLICK HERE TO DOWNLOAD ITR 4S -SUGAM
FOR INSTRUCTIONS TO FILL ITR 1 SAHAJ , CLICK HERE
FOR INSTRUCTIONS TO FILL ITR 2 , CLICK HERE
FOR INSTRUCTIONS TO FILL ITR 2A , CLICK HERE
FOR INSTRUCTIONS TO FILL ITR 4S ( SUGAM ) , CLICK HERE
For obtaining Fillable Forms of above return , visit Income Tax Department website ( To access the site CLICK HERE )
PDF FORMS FOR FINANCIAL YEAR 2014-15 ( ASSESSMENT YEAR 1015-16 ):
CLICK HERE TO DOWNLOAD ITR 1- SAHAJ CLICK HERE TO DOWNLOAD ITR 2 CLICK HERE TO DOWNLOAD ITR 2A CLICK HERE TO DOWNLOAD ITR 4S -SUGAM
For obtaining Fillable Forms of above return , visit Income Tax Department website ( To access the site CLICK HERE )
FOR KNOWING ABOUT TAXABLE INCOME , EXEMPTION LIMIT , DEDUCTIONS ALLOWED ETC CLICK TAX PLANNING
Who can use Return Form ITR1 - SAHAJ ?
This Return Form is to be used by an individual whose total income for the assessment year includes:-
(a) Income from Salary / Pension; or
(b) Income from One House Property ( excluding cases where loss is brought forward from previous years ) ; or
(c) Income from Other Sources ( excluding Winning from Lottery and Income from Race Horses).
Further , in a case where the Income from spouse , minor child etc is to be clubbed with the case of the assessee ,this return form can be used only if the income from the clubbed falls in to the above mentioned categories
Who can not use this Return Form ITR1 - SAHAJ ?
This Return Form should not be used by an individual whose total income for the assessment year includes
(a) Income from more than One House Property or
(b) Income from Winning from Lottery and Income from Race Horses or
(c) Income from Capital Gains ( Short term capital gains or long term capital gains from sale of house , plot or shares etc ) ; or
(d) Income from Agriculture / exempt income in excess of Rs 5,000 or
(e) Income from Business or Profession or
(f) Loss from the head –“ Income from Other Sources “ or
(g) Person claiming relief under section 90 and /or 91 or
(h) Any resident having any asset ( including financial interest in any entity ) located outside India or signing authority in any account located outside India or
(i) Any resident having Income from any source outside India
FOR FULL INSTRUCTIONS FOR FILLING ITR1-SAHAJ FORM , CLICK HERE
Who can use this Return Form ITR2 ?
This Return Form is to be used by an individual or a Hindu Undivided Family whose total income for the assessment year 2015-16 includes:-
(a) Income from Salary / Pension; or
(b) Income from House Property; or (
c) Income from Capital Gains; or
(d) Income from Other Sources (including Winning from Lottery and Income from Race Horses).
Further, in a case where the income of another person like spouse, minor child, etc. is to be clubbed with the income of the assessee, this Return Form can be used where such income falls in any of the above categories.
Who cannot use Return Form ITR 2 ?
This Return Form should not be used by an individual whose total income for the assessment year 2015-16 includes Income from Business or Profession.
FOR FULL INSTRUCTIONS FOR FILLING ITR 2 FORM FOR AY 2016-17 , CLICK HERE
Who can use this Return Form ITR 2A ?
This Return Form is to be used by an individual or a Hindu Undivided Family whose total income for the assessment year 2015-16 includes:-
(a) Income from Salary / Pension; or
(b) Income from House Property; or
(c) Income from Other Sources (including Winning from Lottery and Income from Race Horses).
Further, in a case where the income of another person like spouse, minor child, etc. is to be clubbed with the income of the assessee, this Return Form can be used where such income falls in any of the above categories.
Who cannot use Return Form ITR 2A ?
This Return Form should not be used by an individual or a Hindu Undivided Family whose total income for the assessment year 2015-16 includes,-
(a) Income from Capital Gains; or
(b) Income from Business or Profession; or
(c) Any claim of relief/deduction under section 90, 90A or 91; or
(d) Any resident having any asset (including financial interest in any entity) located outside India or signing authority in any account located outside India; or
(e) Any resident having income from any source outside India.
FOR FULL INSTRUCTIONS FOR FILLING ITR 2A FORM FOR AY 2016-17 , CLICK HERE .
There are four types of simplified returns ITR1 - SAHAJ , ITR2 , ITR2A and ITR4S- SUGAM , among others
FOR THE FINANCIAL YEAR 2015-16 ( ASSESSMENT YEAR 2016-17 ) , FOLLOWING FORMS ARE AVAILABLE ON LINE :
ITR 1 ( SAHAJ ) , ITR 2 , ITR 2A , ITR 3 AND ITR 4S ( SUGAM) TO DOWN LOAD CLICK below :
CLICK HERE TO DOWNLOAD ITR 1- SAHAJ CLICK HERE TO DOWNLOAD ITR 2 CLICK HERE TO DOWNLOAD ITR 2A CLICK HERE TO DOWNLOAD ITR 4S -SUGAM
FOR INSTRUCTIONS TO FILL ITR 1 SAHAJ , CLICK HERE
FOR INSTRUCTIONS TO FILL ITR 2 , CLICK HERE
FOR INSTRUCTIONS TO FILL ITR 2A , CLICK HERE
FOR INSTRUCTIONS TO FILL ITR 4S ( SUGAM ) , CLICK HERE
For obtaining Fillable Forms of above return , visit Income Tax Department website ( To access the site CLICK HERE )
PDF FORMS FOR FINANCIAL YEAR 2014-15 ( ASSESSMENT YEAR 1015-16 ):
CLICK HERE TO DOWNLOAD ITR 1- SAHAJ CLICK HERE TO DOWNLOAD ITR 2 CLICK HERE TO DOWNLOAD ITR 2A CLICK HERE TO DOWNLOAD ITR 4S -SUGAM
For obtaining Fillable Forms of above return , visit Income Tax Department website ( To access the site CLICK HERE )
FOR KNOWING ABOUT TAXABLE INCOME , EXEMPTION LIMIT , DEDUCTIONS ALLOWED ETC CLICK TAX PLANNING
Who can use Return Form ITR1 - SAHAJ ?
This Return Form is to be used by an individual whose total income for the assessment year includes:-
(a) Income from Salary / Pension; or
(b) Income from One House Property ( excluding cases where loss is brought forward from previous years ) ; or
(c) Income from Other Sources ( excluding Winning from Lottery and Income from Race Horses).
Further , in a case where the Income from spouse , minor child etc is to be clubbed with the case of the assessee ,this return form can be used only if the income from the clubbed falls in to the above mentioned categories
Who can not use this Return Form ITR1 - SAHAJ ?
This Return Form should not be used by an individual whose total income for the assessment year includes
(a) Income from more than One House Property or
(b) Income from Winning from Lottery and Income from Race Horses or
(c) Income from Capital Gains ( Short term capital gains or long term capital gains from sale of house , plot or shares etc ) ; or
(d) Income from Agriculture / exempt income in excess of Rs 5,000 or
(e) Income from Business or Profession or
(f) Loss from the head –“ Income from Other Sources “ or
(g) Person claiming relief under section 90 and /or 91 or
(h) Any resident having any asset ( including financial interest in any entity ) located outside India or signing authority in any account located outside India or
(i) Any resident having Income from any source outside India
FOR FULL INSTRUCTIONS FOR FILLING ITR1-SAHAJ FORM , CLICK HERE
Who can use this Return Form ITR2 ?
This Return Form is to be used by an individual or a Hindu Undivided Family whose total income for the assessment year 2015-16 includes:-
(a) Income from Salary / Pension; or
(b) Income from House Property; or (
c) Income from Capital Gains; or
(d) Income from Other Sources (including Winning from Lottery and Income from Race Horses).
Further, in a case where the income of another person like spouse, minor child, etc. is to be clubbed with the income of the assessee, this Return Form can be used where such income falls in any of the above categories.
Who cannot use Return Form ITR 2 ?
This Return Form should not be used by an individual whose total income for the assessment year 2015-16 includes Income from Business or Profession.
FOR FULL INSTRUCTIONS FOR FILLING ITR 2 FORM FOR AY 2016-17 , CLICK HERE
Who can use this Return Form ITR 2A ?
This Return Form is to be used by an individual or a Hindu Undivided Family whose total income for the assessment year 2015-16 includes:-
(a) Income from Salary / Pension; or
(b) Income from House Property; or
(c) Income from Other Sources (including Winning from Lottery and Income from Race Horses).
Further, in a case where the income of another person like spouse, minor child, etc. is to be clubbed with the income of the assessee, this Return Form can be used where such income falls in any of the above categories.
Who cannot use Return Form ITR 2A ?
This Return Form should not be used by an individual or a Hindu Undivided Family whose total income for the assessment year 2015-16 includes,-
(a) Income from Capital Gains; or
(b) Income from Business or Profession; or
(c) Any claim of relief/deduction under section 90, 90A or 91; or
(d) Any resident having any asset (including financial interest in any entity) located outside India or signing authority in any account located outside India; or
(e) Any resident having income from any source outside India.
FOR FULL INSTRUCTIONS FOR FILLING ITR 2A FORM FOR AY 2016-17 , CLICK HERE .
Who can use Return Form ITR4S - SUGAM ?
This Return Form is to be used by an individual or a Hindu Undivided Family whose total income for the assessment year 2016-17 includes:-
(a) Business Income where such Income is computed in accordance with special provisions referred to in Section 44AD and 44AE of the act for computation of business income ; or (b) Income from Salary / Pension; or (c) Income from One House Property ( excluding cases where loss is brought forward from previous years ) ; or (d) Income from Other Sources ( excluding Winning from Lottery and Income from Race Horses). The income computed will be presumed to have been computed after giving full effect to every loss, allowance , deduction or depreciation under the Income Tax Act . Further , in a case where the Income from spouse , minor child etc is to be clubbed with the case of the assessee , this return form can be used only if the income from the clubbed falls in to the above mentioned categories Who can not use this Return Form ITR4S - SUGAM ? This Return Form should not be used by an individual whose total income for the assessment year 2016-17 includes (a) Income from more than One House Property or (b) Income from Winning from Lottery and Income from Race Horses or (c) Income from Capital Gains ( Short term capital gains or long term capital gains from sale of house , plot or shares etc ) ; or (d) Income from Agriculture / exempt income in excess of Rs 5,000 or (e) Income from speculative business or special incomes : or (f) Income from a profession as referred to in sub section (1) of section 44AA or Income from agency business or income in the nature of commission for brokerage ; or (g) Person claiming relief of foreign tax paid under section 90 , 90A or 91 ; or (h) Any resident having any asset ( including financial interest in any entity ) located outside India or signing authority in any account located outside India or (i) Any resident having Income from any source outside India FOR FULL INSTRUCTIONS FOR FILLING ITR 4S - SUGAM FORM , CLICK HERE In case any one finds he / she is not eligible to file any of the above simplified forms , or he is not sure of the form that applies to him / her , one may contact Qualified Tax consultant / chartered accountant to get guidance about submission of returns . TO KNOW ABOUT VARIOUS PROVISIONS OF INCOME TAX CLICK HERE |
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IT RETURNS IN ONLINE
submission of it returns on line
Income Tax returns can be filed on line on the Income Tax Department 's e-filing website :https://incometaxindiaefiling.gov.in/
One may log on to the site and register there by making one's PAN Number as User ID . Under Download Menu , one may select appropriate ITR form and use the Downloaded Return Preparation Software utility and enter the required data following the instructions therein . Then compute tax payable by clicking 'calculate ' . Verify the data to confirm total tax payable . Pay taxes if the total of tax deducted and paid falls short of the calculated amount . Enter the challan details of tax paid already . Finally validate the return and submit .
Tax payers can also utilise the service of Tax Return Preparers ( TRPS ) authorised by Income Tax Department ., if they are not confident of using the on -line services themselves . TRPS are trained to help Income Tax payers and certified by the department. The service is available now at around 400 cities across India.TRPS Return preparation is free for new Income Tax payers as advised by the department .Otherwise , they charge a nominal fee of Rs 250/- for others . Home visit request can also be made to get the preparation done at home . To locate the nearest TRP ,one can call Toll free Telephone number 1800-102-3738 between Monday to Saturday from 9.00 am to 6.00 pm . Details of the scheme including the nearest TRP can be got on their website www.trpscheme.com
Apart from the site of Income tax Department , there are websites like https://cleartax.in/ who facililitate submission of ITRs without any charges for its basic usage . However it charges fee for its " CA assisted e-filing " service . Other websites like https://www.hrblock.in/ also facilitate for a payment of fees . We have not independently verified the quality and usefulness of such sites .
One may log on to the site and register there by making one's PAN Number as User ID . Under Download Menu , one may select appropriate ITR form and use the Downloaded Return Preparation Software utility and enter the required data following the instructions therein . Then compute tax payable by clicking 'calculate ' . Verify the data to confirm total tax payable . Pay taxes if the total of tax deducted and paid falls short of the calculated amount . Enter the challan details of tax paid already . Finally validate the return and submit .
Tax payers can also utilise the service of Tax Return Preparers ( TRPS ) authorised by Income Tax Department ., if they are not confident of using the on -line services themselves . TRPS are trained to help Income Tax payers and certified by the department. The service is available now at around 400 cities across India.TRPS Return preparation is free for new Income Tax payers as advised by the department .Otherwise , they charge a nominal fee of Rs 250/- for others . Home visit request can also be made to get the preparation done at home . To locate the nearest TRP ,one can call Toll free Telephone number 1800-102-3738 between Monday to Saturday from 9.00 am to 6.00 pm . Details of the scheme including the nearest TRP can be got on their website www.trpscheme.com
Apart from the site of Income tax Department , there are websites like https://cleartax.in/ who facililitate submission of ITRs without any charges for its basic usage . However it charges fee for its " CA assisted e-filing " service . Other websites like https://www.hrblock.in/ also facilitate for a payment of fees . We have not independently verified the quality and usefulness of such sites .
IMPORTANCE OF FILING RETURNS WITHIN LAST DATE
The last date for submission of above returns fixed for the Financial Year 2015-16 is 31.07.2016 . However , it is advisable to file as early as possible to avoid last moment scramble to get relevant papers / details for filing the same .Though one can file returns belatedly within the period of one year from the end of assessment year , there are disadvantages associated with such belated submission . If return is not submitted within due date ,loss incurred under the heads " PROFIT AND GAINS OF BUSINESS " and " CAPITAL GAINS " cannot be carried forward for the next year . A penalty of Rs 5,000 may be levied for submission beyond the end of the assessment year . Where the return is filed after the `due date’, interest on refund is paid only for the period from the month of filing the return to the date of refund. In other words, no interest is paid for the period from April 1 of the assessment year to the date of filing the delayed return. The advantage of filing returns in time is that one can submit Revised return within one year from the end of the assessment year or before completion of assessment , in case one wants to amend the return submitted ,
only if original return was submitted in time .
only if original return was submitted in time .
E-VERIFICATION OF RETURNS FILED THROUGH E -FILING
One can verify electronically the IT Return submitted through e-filing facility of income tax department . There are four means of verifying .
1. E- VERIFICATION USING NET - BANKING
Some banks are registered with Income Tax department for the purpose . If your bank is registered , you can go to the internet banking facility of the bank , go to the section related to tax payment and generate Electronic Verification Code ( EVC ) , a 10 Digit alpha- numeric code . Then using EVC ,verify the return submitted electronically .
2. E- VERIFICATION USING ATM CARD ( DEBIT CARD )
If you have ATM Card ( Debit Card ) issued for your savings bank account which is linked to your PAN Number , and the bank is registered with income Tax department for providing this service , you may access ATM of the bank and generate EVC for the income tax return you have filed .
3. E- VERIFICATION USING AADHAR NUMBER
An income tax assessee can provide his Aadhar Number for linking with his PAN Number on e-filing site which will be verified on the basis of his name , Date of birth and gender . If Aadhar card has been successfully linked to PAN Number , then UIDAI will generate OTP for verification .
4. E- VERIFICATION USING E-FILING WEBSITE
When total income as per income Tax return is Rs 5,00,000 or less and no refund claim , one can generate Electronic verification code on e-filing site itself which will be sent to the registered e-mail and mobile number . Using the code , one can e-verify the return submitted .
For notification of Income tax department on the subject CLICK HERE For User manual of e- verification , CLICK HERE
1. E- VERIFICATION USING NET - BANKING
Some banks are registered with Income Tax department for the purpose . If your bank is registered , you can go to the internet banking facility of the bank , go to the section related to tax payment and generate Electronic Verification Code ( EVC ) , a 10 Digit alpha- numeric code . Then using EVC ,verify the return submitted electronically .
2. E- VERIFICATION USING ATM CARD ( DEBIT CARD )
If you have ATM Card ( Debit Card ) issued for your savings bank account which is linked to your PAN Number , and the bank is registered with income Tax department for providing this service , you may access ATM of the bank and generate EVC for the income tax return you have filed .
3. E- VERIFICATION USING AADHAR NUMBER
An income tax assessee can provide his Aadhar Number for linking with his PAN Number on e-filing site which will be verified on the basis of his name , Date of birth and gender . If Aadhar card has been successfully linked to PAN Number , then UIDAI will generate OTP for verification .
4. E- VERIFICATION USING E-FILING WEBSITE
When total income as per income Tax return is Rs 5,00,000 or less and no refund claim , one can generate Electronic verification code on e-filing site itself which will be sent to the registered e-mail and mobile number . Using the code , one can e-verify the return submitted .
For notification of Income tax department on the subject CLICK HERE For User manual of e- verification , CLICK HERE
Intimation under section 143(1) of Income Tax Act 1961
INTIMATION U/S 143(1) OF THE INCOME TAX ACT will be received by you if you file the IT Return online directly or through your Tax Consultant. Under Section 143 ( 1) , the income tax department completes the assessment , based on returns filed by you , without requiring your presence . The department checks , through its computers , for the arithmetical inaccuracies and or any incorrect claims made . You will receive the INTIMATION U/S 143(1) OF THE INCOME TAX ACT by emails to the email addresses provided by you. The intimation will have two columns viz tax determined as per return filed by you and secondly tax determined by the department after making necessary corrections . The intimation may have NET AMOUNT DEMAND/ NET AMOUNT REFUNDABLE .On receiving the intimation , if there are any discrepancies , one may file rectification of the return submitted after paying any tax demanded . If one is not satisfied with the claim made by the department , one can go on line to the portal of the department and file Response to the intimation received . The department will send the notification within one year from the date of filing return . However , now a days , the notifications are received much faster , some times within a week due to computerisation of system in the department . Normally notification received is treated as completion of assessment by the department.
E-SAHYOG
Income Tax Department (ITD) has launched a new initiative e-Sahyog with a view to reduce compliance cost, especially for small taxpayers. Traditionally, when Income Tax Department (ITD) found mismatch in information shown in the Income Tax Return with the information submitted from third parties in the form of Annual Information Return (AIR), TDS Statement etc., the cases were selected for scrutiny. E-sahyog is a Pilot Project to provide an online mechanism to resolve mismatches in income Tax return without requiring taxpayers to attend the Income Tax Office. Under the scheme an assessee can submit on line response to demand made by the department ,instead of visiting Office of the department and submit a manual reply .An assessee can login to e-filing portal,view pending action where outstanding demands are given and can give a response to the demand if he is not satisfied with the demand made .For step by step guide for filing the response , click here
TIPS FOR FILING IT RETURNS
1. Estimate total income including salary , interest or any other income for the current year April 2015 to March 2016
2. Take stock of payments like Provident Fund already paid by your employer , Insurance Premium you have paid or any other instrument you have purchased which is eligible for Tax concession .
3. Collect the details of Housing loan and education loan instalments paid during the year and interest paid / payable forthem for the year .
4. Go to Income Tax Department , Govt of India website
http://www.incometaxindia.gov.in/Pages/tools/income-tax-calculator-234ABC.aspx
and calculate the estimated income tax liability for the current year .
5. Verify Taxes paid already in Form 26AS and confirm that all tax deducted for you by your employer / bank as given in form16 or Salary receipt is credited to your account with income tax department . You can view 26 AS ( Tax Credit ) in the income tax department's website by logging in .
6. If your taxable income is more than Rs 5, 00,000 , it is mandatory to submit the return electronically . Otherwise you may submit the return manually also .
7. If you are filing your Return manually and your Total taxable income does not exceed Rs.5, 00,000 , then claim relief under section 87A.
8. If you are Indian Resident , your income is taxable even if your income has emanated outside India . If Income Tax has been deducted outside India on Income earned there, you can claim relief u/s 90 or 91 of Income Tax Act.
9. Before preparing the return , hold following documents with you for easy filling .
a. Copy of last year's return
b. Bank statements
c. TDS Certificates
d. Interest certificates /details of eligible deductions
e ' Aadhar Card Number and IFSC codes of your bank accounts
f. Form 16 issued by your employer
g. Balance sheet / P & L statements if so required
10. Find out the ITR Form applicable to you from the eligibility criteria above and fill the appropriate form .
11. The last date for filing the return for AS 2016-167 is 31st ,July , 2016 and submit well before dead line to avoid last minute errors while submitting the return .
12 . For details on tax rates , eligible deductions visit our TAX PLANNING PAGE . in case of doubt , consult a qualified tax consultant / chartered accountant to avoid mistakes
2. Take stock of payments like Provident Fund already paid by your employer , Insurance Premium you have paid or any other instrument you have purchased which is eligible for Tax concession .
3. Collect the details of Housing loan and education loan instalments paid during the year and interest paid / payable forthem for the year .
4. Go to Income Tax Department , Govt of India website
http://www.incometaxindia.gov.in/Pages/tools/income-tax-calculator-234ABC.aspx
and calculate the estimated income tax liability for the current year .
5. Verify Taxes paid already in Form 26AS and confirm that all tax deducted for you by your employer / bank as given in form16 or Salary receipt is credited to your account with income tax department . You can view 26 AS ( Tax Credit ) in the income tax department's website by logging in .
6. If your taxable income is more than Rs 5, 00,000 , it is mandatory to submit the return electronically . Otherwise you may submit the return manually also .
7. If you are filing your Return manually and your Total taxable income does not exceed Rs.5, 00,000 , then claim relief under section 87A.
8. If you are Indian Resident , your income is taxable even if your income has emanated outside India . If Income Tax has been deducted outside India on Income earned there, you can claim relief u/s 90 or 91 of Income Tax Act.
9. Before preparing the return , hold following documents with you for easy filling .
a. Copy of last year's return
b. Bank statements
c. TDS Certificates
d. Interest certificates /details of eligible deductions
e ' Aadhar Card Number and IFSC codes of your bank accounts
f. Form 16 issued by your employer
g. Balance sheet / P & L statements if so required
10. Find out the ITR Form applicable to you from the eligibility criteria above and fill the appropriate form .
11. The last date for filing the return for AS 2016-167 is 31st ,July , 2016 and submit well before dead line to avoid last minute errors while submitting the return .
12 . For details on tax rates , eligible deductions visit our TAX PLANNING PAGE . in case of doubt , consult a qualified tax consultant / chartered accountant to avoid mistakes
We value your opinions , comments and suggestions. We shall be happy to your feedback on the contents of the Article . For Feedback form , CLICK HERE
THIS ARTICLE CARRIES INFORMATION ON VARIOUS TAX PROVISIONS WHICH ARE GENERALLY USEFUL . YET IT DOES NOT CARRY ALL THE PROVISIONS AND HENCE YOU ARE ADVISED TO GO THROUGH INCOME TAX DEPARTMENT WEBSITES FOR AUTHENTIC COMPLETE INFORMTITION .ESPECIALLY THOSE WHO HAVE GOT MULTIPLE STREAMS OF INCOME OR COMPLEX INVESTMENTS MAY CONSULT A QUALIFIED TAX CONSULTANT / CHARTERED ACCOUNTANT FOR ANY CLARIFICATION. READERS ARE ALSO WELCOME TO SEND FEEDBACK . YOU CAN DOWNLOAD THE FORM HERE . WE ARE OPEN FOR CORRECTION IF NEEDED
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ONLINE RESOURCES FOR E- FILING AVAILABLE ON YOUTUBE
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