Krishna (Fictional Character): Arjuna, there are many practical difficulties that a senior citizen may face while claiming an exemption for ITR filing. Senior citizen generally have FD/RD/saving bank interests as their major incomes. The interest rate for banks differ at times, so it is ...
Super senior citizens (above 80 years of age)Above ₹ 5,00,000 There are certain scenarios where ITR filing is mandatory for individuals even if their gross total income is below the basic exemption limit. You have to file a return if: ...
An Income Tax Return (ITR) is a form that taxpayers use to report their income details and tax payments to the income tax department. There are seven different ITR forms available for ITR e filing: ITR 1 through ITR 7. The appropriate form for a taxpayer depends on various factors, includ...
1. Aadhar Card Details:A column has been added to furnish aadhar card details if you have one. This would be used for EVC verification system as described above. 2. Details of Foreign Travel:You would need to furnish details of foreign travel made (For resident and nonresident both) includi...
Changes in ITR for FY 2018-19 or AY 2019-20 Online filing of ITR mandatory: In a departure from the previous year, all individuals (except for super senior citizens i.e above 80 years of age) will be required to file their ITRs electronically. The ITR-1 for FY 2018-19 cannot be fil...
Login to File Income Tax Returns (ITR) for FY 2023-24 (AY 2024-25) online with ClearTax. ClearTax is fast, safe and easy for ITR E-Filing. ClearTax handles all cases of Income from Salary, Interest Income, Capital Gains, House Property, Business and Prof
Education is not cheap. Most of us have opted for an education loan. One of the benefits of ITR filing is that we can claim a deduction oninterest paid on education loans HRA (House Rent Allowance) Salaried individuals living in a rented house can claim HRA, if not included in salary, ...
your e-filing will be considered invalid.It will be considered that you have not yet filed your return. You then have to file a revised return, get a new ITR-V and submit the same within 120 days. So far Income Tax Department has been extending the last date for submission of ITRV ...
Filing of schedule FA is mandatory if an individual is owner of any foreign asset like foreign stocks, foreign mutual funds, other foreign assets. Failing to file schedule FA along with ITR would mean violation of Black Money Act which would mean...