The Income Tax Return or ITR that most people refer to is actually the annual tax form that individuals file every April 15th of the following year. This form summarizes all of the income (or loss) you have incurred for the past year. With the new Tax Reform Laws (TRAIN), there are n...
Assessment Year: Income Tax return, ITR, is bound to an assessment year. For income earned in FY 2015-6 assessment year is AY 2016-17. Income Tax return forms(physical and excel) of AY 2016-17 and AY 2015-16 are different,. A revised return for the correct assessment year needs to b...
Even if, you are under taxable income, however, you should file zero-return filing. How to efile income tax return? Step 1 –Open www.incometaxindiaefiling.gov.in, It is easy to register. After registration, collect all income data with proof. And Login now… Step 2 –Click as shown...
The Income Tax Department has introduces 7 types ofITR forms:ITR1,ITR2,ITR3,ITR4, ITR5,ITR 6, andITR 7. Based on the type of income, people are required to file the ITR form that applies them. The sources of income could be the following: Salary Income from business and profession ...
After this time, you must file an Income Tax Return if you have not yet recouped the loss. Fortunately, it can carry the loss forward for up to eight years. Loss of Short-Term Capitals It is possible to utilise a short-term capital loss on the sale of stock shares to offset a long...
Claim tax saving deductions under section 80 in ITR We shall modify our example taken inFilling ITR 1-Formof Mr T Mehta. Let’s assume that Mr. Mehta did not submit any proof of tax saving investments to his employer. To recap details of Mr Mehta income, investments and TDS are as foll...
The sustainability improvements with this approach are a reduction of the total cost, thereby making it affordable for lower income users, and a decrease in energy consumption and pollutant emissions. The validated integrated approach offers start-up opportunities to develop and deliver more sustainable...
Option 1:Claim your TDS refund by filing the income tax return. One & the only way to get an income tax refund is to file ITR, income tax refund. Once any bank or deductor deducts TDS, they must deposit the amount with the Income Tax department. After verification, the income tax de...
to zero. But if a mutual fund holds 50 stocks, it’s very unlikely that all of them would become worthless.The flip side of this reduced volatility is that fund returns can be muted relative to individual stocks.Another disadvantage the professionals running mutual funds do not do so for ...
How to reset and change UAN password when you have your mobile number with UAN registered with you but you have forgotten your UAN password.