The Income Tax Act, 1961, and the Income Tax Rules, 1962, require citizens to file their tax returns with the Income Tax Department at the end of every financial year and this form is a part of the filing process as specified by the Government of India. The due date for filing return with the Income Tax Department of India is 31 July every year.
Nice initiative by Income Tax India ,this website saves lots of time and a great step towards Digital and Cashless India. 03-07-2018. Ever since CPC was established, submitting returns online has become much easier. Particularly for those like me who are seniors can sit at home and do it. Also processing and getting refund is quicker.
I am sure this will encourage a lot more people to fill income tax return. Satisfied with current system. "" e filling updated one is excellent thank you ""Speedy disposal of limited scrutiny cases - Both the CA and tax payers fraternity are feeling that the Acche Din has come for us." " Income tax return processed in record time. Excellent.
The Income Tax Department NEVER asks for your PIN numbers, passwords or similar access information for credit cards, banks or other financial accounts through e-mail.. The Income Tax Department appeals to taxpayers NOT to respond to such e-mails and NOT to share information relating to their credit card, bank and other financial accounts.
For income tax return of financial year 2017-18 and onwards there is a late fee of Rs 5,000 if the return is furnished after July 31st but on or before December 31, 2018. ... India WebPortal ...
Income tax return & steps for filing income tax return online in India. Know - who should file ITR, ways to file income tax return & benefits of online income tax return filing. Calculate Income tax deductions & how to fill ITR forms etc.
Tax is a central element to the revenue generation system of the Indian government. Among the multitude of taxes present in the system, income tax is the one that deals with the taxation of the earning of every individual, firm or organisation in a financial year.
The Income Tax department has notified I-T return forms for individuals and companies for the assessment year 2019-20. While there has been no change in ITR-1 or Sahaj, which is to be filled by ...
The Constitution of India → Schedule VII → Union List → Entry 82 has given the power to the Central Government to levy a tax on any income other than agricultural income, which is defined in Section 10(1) of the Income Tax Act, 1961. The Income Tax Law consists of Income Tax Act 1961, Income Tax Rules 1962, Notifications and Circulars issued by Central Board of Direct Taxes (CBDT ...
Irrespective of whether your residential status, any individual who has generated an income of more than INR 2,50,000 in the current financial year is required to file tax returns in India. For an NRI, if your income generated in India falls outside the minimum slab prescribed by the government, you should file a tax return.