Page 5 - Income Tax Return

Confused about income tax returns? Here are 5 easy steps to file your ITR

If your total income for the financial year 2017-18 is more than Rs 250,000, you must file your income tax return by 31st August 2018

File your income tax return before August 31 to avoid paying penal fees

If you fail to file the return by March 31, 2019, you will never be able to file the return

CBDT to add 13 mn new income tax filers this year; UP sees highest target

CBDT intends to add a sizeable number of new taxpayers in the current financial year

Filing income tax return can be a bit tricky if you have shifted jobs

Since you will have more than one Form 16, you need to check whether you have an outstanding tax liability

File your income tax returns and keep these dos and don'ts in mind

File on time and keep your documents safe even after filing in case your ITR is scrutinised later on

Miss March 31 date to file belated tax return for FY16, risk an I-T notice

This is the last chance you have to file your returns for that year; you will not be able to do so later

Made a mistake while filing tax returns? Here's how you can fix it

While filing these returns, there is always the possibility of an unintentional or arithmetic error or an omission of details creeping into the return

Apply on condition

If the tax due is zero, there is no case for imposing a penalty for a technical failure of non-submission of income tax return within the stipulated time

Income-tax department identifies 30,000 cases for scrutiny

E-filing of tax returns jumps 21% till August 1

Income tax returns made easy: Step-by-step guide to filling the 1-page form

Only salaried individuals having an income up to Rs 50 lakh can use this form

Top 5 common mistakes to avoid while filing your income tax returns

Here is a list of things to help you sail through

Do meet the extended deadline of August 5 for filing ITR

Only those who file it can revise returns, carry forward losses, avoid interest on unpaid taxes

Need to file I-T Returns? Know the steps, benefits of doing it online

Here is all you need to know to help you e-file your income tax return on your own

The many benefits of filing your income tax returns on time

You not only create a record of your income but need it when taking a loan, applying for a visa

Ban on BS-III vehicles, easier I-T returns & more: Rules that changed today

With effect from today i.e. 1 April, 2017, many new rules have come in to effect

New ITR form: Taxman seeks details of deposits made during demonetisation

The government today notified a simplified Income Tax Return form for individuals which will be available for filing ITR for Assessment Year 2017-18 from tomorrow. Currently, SAHAJ (ITR 1) is filed by salaried employees and ITR 2 by individuals and HUFs whose income does not include income from business. The government has done away with two forms ITR 2A (used by individuals & HUFs not having income from business or profession and capital gains and who do not hold foreign assets). Only 6 crore out of 29 crore persons holding permanent account number (PAN) file income tax returns at present. The e-filing facility for ITR-1 is enabled from April 1 and ITRs can be filed till the stipulated deadline of July 31. At the time of filing the form, the taxpayer has to fill in PAN, Aadhaar number, personal information and information on taxes paid. TDS will be auto-filled in the form. Post July 1, as per amendments to the Finance Bill 2017 as passed by the Lok

More banks to follow e-verification

After Punjab National Bank (PNB) and United Bank of India (UBI), more banks are likely to start a facility wherein an account holder can verify his income tax return on the e-filing site even without having a netbanking account.A Electronic Verification Code (EVC) can be generated by pre-validating the bank account on the e-filing portal of the income tax department.Other banks are expected to launch this facility," the Central Board of Direct Taxes (CBDT) said.It also said EVC can be generated by pre-validating a demat account on the portal.Customers of State Bank of India, Axis Bank and Canara Bank can generate an EVC through the bank's ATMs.Other banks are expected to offer this facility soon, the department said.The e-verification facility of IT returns was used by over 7.5 million taxpayers till August 5, as compared to 3.2 million last year till September 7.Of these, Aadhaar based e-verification was used by 1.7 million taxpayers during the current year as against 1.04 million tax