ITR now come with astandard deduction, For Salaried and Pensioners. While filing ITR, the maximum amount ofstandard deductionthat can be claimed by asalaried individual/pensionerisRs 40,000for the financial year 2018-19, as shown in the image below (It was increased to 50,000 Rs for FY 201...
2 ) Choose the right Income Tax form– If you are salaried person and have no Income from Business & profession, then it is likely that you need to file return in ITR 1 or ITR 2 or ITR 2A. There are some conditions that who can file return in ITR 1 –( Read my post on Which ...
Explore the crucial role of income tax filing in personal and national development. Get a detailed guide on how to file your Income Tax Returns (ITR).
ITR What is ITR ITR for Salaried Employees My ITR Status How to get ITR ITR Quick Questions Not Filing ITR Get tax return online Tax Return Wrong Why Do We File ITR Check ITR When Should We File ITR Who Should File ITR Purpose of Filing IT Returns TDS TDS Calculation Check my TDS amou...
As the deadline to file your income tax returns draws closer, taxpayers are in the middle of a frantic search to get all the documents in time. For any salaried person, Form 16 is a basic document that is required to file ITR each year. However there are times when you don't have ...
or should I have to file ITR for those years now. I was not taxable during those years after deducting my deductions under 80C. Please advise me. Reply S.K Pradhanon December 30, 2016 at 10:22 AM I have filed the income tax return for the period A.Y-2016-17 in the form ITR 4,...
“How Income Tax is Calculated on Salary?”– Navigating the labyrinth of income tax calculation in India, particularly for salaried individuals, can be akin to solving a complex puzzle. Fear not, for it’s a crucial puzzle to unravel in the realm of personal finance. Income Tax Calculator ...
Do remember that as in case of other TDS, any TDS done with respect to your EPF withdrawal will also reflect in your Form 26AS. You have to show it in your ITR. EPF Form 15G – How to fill online for EPF withdrawal? Now you have understood the TDS rules applicable to EPF and als...
Forsalaried people, TDS is deducted by the employer from salary but if you have sources of income like interest on deposits and your tax liability for the year exceeds Rs 10,000 after your employer has deducted the TDS then you have to pay Advance Tax. Senior citizen (age of 60 years ...
the tax with the government before the seventh day of the following month. The TDS rules are very strict and the employer faces stringent penal provisions for non-deduction or non-deposition of tax. Employers also have to file the TDS returns at the end of every quarter of a financial ...