Filing an Income Tax Return is not just a legal obligation, but also a financial responsibility. It applies to individuals and entities across various categories and income levels. Below is a clear overview of who must e-file their income tax return in India: ...
Visit the Income Tax Department’s official e-Filing portal (https://www.incometaxindiaefiling.gov.in/) and log in using your user ID and password. If you are a first-time user, you may need to register on the portal before proceeding. Once logged in, go to the “e-Verify Return”...
Income Tax Return filing is mandatory for Taxpayers whose income exceeds the prescribed income limit. ITR Filing process is regulated under the Income Tax Act 1961.
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Net Income (Before Tax) 90,000 The multi-step statement allows the business owner, as well as outsiders such as lenders and investors, to analyze the business’s operating efficiency by showing gross profit, operating profit, and net income. These profit figures allow quick analysis of a compa...
Section 90 (1) of the Income Tax Act is associated with relief measures for assesses involved in paying taxes twice i.e., paying taxes in India as well as in Foreign Countries or territory outside India. Section 90(2) also contains provisions which will certainly enable the Central Governme...
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e-filing website of the department, viz: https://incometaxindiaefiling.gov.in/ , or by logging on to their personal email. By doing so as most of the proceedings will be completed online, the assesse won’t need to visit the department’s office and in this way cases of harassment ...