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...
Using a variety of factors to ensure easy compliance with income taxes, the income-tax department categorizes taxpayers based on their income and source of income; and subsequently, lets them file their Income Tax Returns (ITR). Since taxpayers have different income categories, they have to fill...
A belated income tax return refers to an income tax return that is filed after the due date specified by the Income Tax Department. The due date for filing income tax returns (ITR) is July 31st of the assessment year. If you miss the due date for filing your ITR, you can still file ...
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 ...
Our study contributes to the research domain of self‐initiated repatriation, focusing on the drivers of self‐initiated expatriates' intention to repatriate (ITR). We examine the impact of selected individual characteristics (gender, ethnicity, international experience), conte...
By understanding these options and adhering to the relevant tax and compliance regulations, you can maximize your tax refund and optimize your financial gains. Timely Filing of Income Tax Returns Filing within the Due Date: Ensure you file your income tax return (ITR) within the stipulated due ...
after uploading the return, the assessee had to take a printout of ITR-V, sign it and send it to the Income Tax authorities at Bengaluru. No, the system has changed. The assessee no longer required to send ITR-V by post. The return can be e-verified by the following five methods:...
After getting the address, you should visit the AO’s office to get the correction done. In Case of an Income Tax Return (ITR) Filed via a Bank Branch If the payment of advance tax or self-assessment tax has been made via a bank branch, the bank has the authority to correct certain...
How to responsd to Income Tax Notice on Non Filing of ITR Preliminary Response Under the ‘Preliminary Response’ section, the taxpayer is expected to respond to relevant questions. The queries under the Preliminary Response section are based on campaign type (non-filing of return/certain high-va...
The BIR requires that your Annual Income Tax Return must be filed on or before the 15th day of April each year. We do recommend that you file your annual ITR as soon as possible to avoid any unforeseen problems. What are the attachments required for filing ITR?