Individuals can file ITR-1 either by downloading excel utility from e-filing website or by 'Prepare and Submit Online' option without downloading any software.
In this article, we explain the quickest way to file the return in Form ITR-1 using illustrations.
It is now easier to claim HRA exemption- you just need to copy details from Form-16 and paste them in ITR-1.
LTCG on transactions in listed equity and equity mutual fund units in FY 2018-19 is to be calculated as per a new tax regime introduced in Budget 2018.
As per the Income Tax Act, a person is required to file his/her return in the relevant assessment year by July 31 (unless deadline extended) to claim the refund.
Mistakes while filing ITR can fetch you a tax notice. Here's how you can respond to such tax notices.
CBDT has clarified that only foreign assets acquired as per the relevant accounting period of the foreign country have to be reported while filing ITR for FY 2018-19.
During processing the department checks if there are any discrepancies between the income declared and the tax paid by you and the data available to them.
Documents such as rent receipts, section 80C tax saving documents etc. which prove the claims made by you in your tax-return are advised to be kept safely.
While most tax payers are aware that interest income is taxable, there are a few types of interest income that they are likely to forget to include.
The income tax department has tweaked the process of claiming the tax refund from this year.
For more than one Form 16, prepare a revised statement of income and tax liability to make sure that the tax is calculated as per the correct slab.
The deadline to file income tax returns has been extended to August 31, 2019.
While depositing self-assessment tax or advance tax during the year, you may have selected the wrong assessment year which could lead to a discrepancy.
If you have filed your income tax returns with a refund request, here is a step by step guide for you to track the refund status due to you.
Here are three common TDS-related queries answered by the income tax department.
Pre-filled forms will soon be able to pick salary breakup directly from an individual’s Form 16.
Every taxpayer should verify and validate the TDS certificate before claiming any tax deduction.
As per income tax rules, you should claim credit for TDS on income that is paid or accrues to you in the same financial year as the TDS is deducted.
Here's a short quiz to help you understand if you are on the right track to file your income tax return.
E-filing Lite is a lighter version of the e-filing portal of the tax department, which enables quick access to the portal and faster filing of ITR.
In Budget 2018, LTCG was made taxable. This rule applies for transactions made on or after April 1, 2018, and will be applicable for FY 2018-19 onwards.
Given here are some queries answered by the tax department for filling up ITR forms for FY 2018-19.
You can get an 'invalid XML error' message if you have altered or edited the XML file generated from the ITR utility/form before uploading the same to the portal.
Form 26AS is a statement containing details of all the taxes that are deducted during the FY from your income and deposited against your PAN to the government.
It is mandatory for the taxpayer to verify ITR within 120 days of filing the tax return.
All the personal and tax details available with tax e-filing portal will be prefilled into the appropriate ITR excel form.
"The Income Tax department is launching 'e-Filing Lite', a lighter version of e-Filing portal with a focus on filing of Income Tax Return (ITR) by the taxpayers," the I-T department said in a public advisory.
The changes have been made in the ITR form to ensure no penal interest is payable by the taxpayer under section 234A if he files ITR before the deadline.
Confused about how TDS is deducted from your salary? Here's everything you need to know about it.
Your salary structure is of utmost importance; as you would always seek to maximise your take-home salary
Follow these seven simple steps to download Form 26AS via the income tax department's e-filing website.
To file ITR, you must first register yourself on the e-filing website of the income tax department.
Confused about what figures to check in the revised Form 16? Here's all that you need to know.
Here is the list of documents you must collect and things you must do before filing your income tax return for FY 2018-19.
Taxpayers should keep in mind these tips to avoid penalties and ensure a smooth return filing process.
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