INCOME TAX RETURN SALARIED PERSON / PENSIONER
Every Salaried Individual Has to file income tax return who has income more than Below taxable limit.e Rs 250000 in Financial Year. Salaried Person, Retired Pensioner, Women Who earns only from the Interest, Army Peron, The person who does the job and earns more the Basics exemption limit U/s 250000. Salaried people get Form 16 which gives information of salary earned and advance taxes paid.
Besides the basic salary there are other components being benefits which are wholly or partially taxable. Further, there are tax saving options like eligible investments under SEC 80C , donations made etc. You are required to upload Form-16 and Form-26 AS (mandatory) to get a CA assigned on your order. We request to upload these documents within hours of plan purchase to help us assign a CA and file your returns on time.
Taxfiling For -
- Salaried individual with single or multiple Form 16
- Individuals with house property Rented or Salaried Individual Both
- Tax filing for Salaried individual with Other Sources like interest Income Casual income etc.
- Form 16 from your company
- Additional Form 16
- PAN Card
- Aadhar card
- All Bank statement
- Details of House Property
- Other Documents
FAQ (Frequently Asked Questions)
As per new ITR Forms, every assessee is compulsorily required to furnish details regarding all bank accounts whether they are operative or not.
The returns can be e-Verified by logging in to e-Filing account through Net Banking login. This facility is available for account holders who have linked their PAN with account number in leading banks in India.
All the business entities (Company, LLP, Firm) must file ITR even if their total income or tax payable is zero. In case of an individual, when income exceeds the basic exemption limit, it is recommended to file ITR to avoid scrutiny from the Income Tax Department. Also, if your tax liabilities is zero and have filed the ITR before, it is necessary to be filed. The same can be provided as a proof of income whenever required.
Yes, filing ITR in case of loss would be in your interest itself. With online ITR filing, you can carry forward the losses to a certain upcoming financial year to set off losses against the future profits.
No, the income tax is paid during the financial year in which the income is earned. While filing ITR, if the tax liability is more than the already paid advance tax, the due amount must be paid with interest, if applicable.
In case you fail to file the return on a due date, there is a provision to file return up to a certain date, however with a late filing fee and reduced benefits, the belated return can be filed before the end of Assessment Year for the concerned financial year. That means, for F.Y. 2018-19, belated returns can be filed till 31st March, 2020.
Late filing fee will be levied based on the date of filing belated return. The late fee for filing depends on the period of filing:
1. For return filed after due date but till December – late filing fees of ₹ 5,000 will be charged
2. For return filed after 31st December – late filing fees of ₹10,000 will be charged
However, for small taxpayers with an income up to ₹ 5 Lakh, the fees are limited to ₹ 1,000 only.
To revise the filed ITR, the deadline is 1 year from the end of the next financial year. Therefore, in the case of F.Y. 2018-19, the last date of filing would be 31st March, 2020.