#itr 1 filing online 2021-22

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ITR फाइल कर चुके हैं तो इन 6 तरीकों से कर लें वेरिफाई ताकि जल्द मिल सके आपके रिफंड का पैसा

ITR फाइल कर चुके हैं तो इन 6 तरीकों से कर लें वेरिफाई ताकि जल्द मिल सके आपके रिफंड का पैसा

ITR Filing Process: असेसमेंट ईयर 2022-23 के लिए 5 करोड़ 82 लाख 88 हजार 962 लोगों ने अभी तक इनकम टैक्स रिटर्न दाखिल किया है। इनमें से 3.01 करोड़ आईटीआर सत्यापित होने की प्रक्रिया में हैं। आईटीआर भरने की लास्ट डेट निकल चुकी है। अब इसे लेट फीस के साथ ही भरा जा सकता है। इनकम टैक्स डिपॉर्टमेंअ की वेबसाइट पर दिए गए आंकड़ों के मुताबिक 10.54 करोड़ इंडिविजुअल रजिस्टर्ड यूजर हैं। असेसमेंट ईयर 2022-23 के…

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ITR Filing FY 2021-22: How to check tax Refund, Demand Status online, step by step guide

ITR Filing FY 2021-22: How to check tax Refund, Demand Status online, step by step guide

The Income Tax department had on August 1 tweeted that about 5.83 crore ITRs for AY 22-23 were filed till 31st July, 2022.  source https://zeenews.india.com/personal-finance/itr-filing-fy-2021-22-how-to-check-tax-refund-demand-status-online-step-by-step-guide-2494688.html

[babatax]

Income Tax: Which ITR form is applicable to you for FY 2021-22? and what's the due date?

#itr #incometaxreturn #itrfiling #itrform #incometax

On March 30, 2022, the Central Board of Direct Taxes (CBDT) announced income tax return (ITR) forms for the fiscal year (FY) 2021-22 (assessment year or AY 2022-23) and enabled the filing option for ITR 1, ITR 2, ITR 3 and ITR 4 forms on its website http://www.incometaxgov.in. ITR-1, ITR- 2 & ITR-4 offline & online both, ITR-3-only offline. Taxpayers can download ITR Offline Utility through…

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Income tax return filing: List of required documents

The last day for filing your income tax return (ITR) for the financial year 2020-21 is on December 31, 2021. This year, the Central Board of Direct Taxes (CBDT) has extended the last date for filing ITR for FY2020-21 (AY2021-22) to December 31, 2021. Generally, taxpayers are required to file ITR by July 31 of any year unless extended by the government.

The Income Tax Department is urging the taxpayers to file their ITR for the financial year 2020-21 or assessment year 2021-22 without any further delay. The department has been issuing reminders as the deadline to file a return is December 31.

In this post, we will discuss the list of documents required to file ITR online for the assessment year 2021-22.

Documents in case of salaried employees

Salaried employees need to gather the following documents to file income tax returns in India.

PAN

Form-16 issued by employer

Month wise salary slips

Form 16/ 16A is the certificate of deduction of tax at source and issued on deduction of tax by the employer on behalf of the employees. These certificates provide details of TDS / TCS for various transactions between deductor and deductee. It is mandatory to issue these certificates to taxpayers.

Salary slip consists of all the basic details related to the salary of an individual including basic salary, Dearness Allowance (DA), TDS amount, House Rent Allowances(HRA), Travelling Allowances (TA), standard deductions, etc.

Interest income certificates

The interest earned by an individual from a savings bank account, fixed deposits, recurring deposits, and post office savings account is considered to be ‘Income from Other Sources’ and is taxable.

Thus, it is important to collect the interest certificates pertaining to these, in order to furnish the details of the total interest earned during the financial year.

Investment proofs

Taxpayers can reduce tax liability by claiming exemptions on the investments and expenditures that are eligible for exemption under Section 80C/ 80CCC, and Section 80CCD(1) of the Income Tax Act.

A few common tax-saving investments and expenses are as follows:

Employees Provident Fund

National Pension Scheme

Life insurance premiums paid

Investments in ELSS schemes of mutual funds

Public Provident Fund etc

Form 26AS

Form 26AS reflects the details of every tax deducted from taxpayer income by any deductor and deposited on his behalf. This is provided by the Income Tax Department. This form can be accessed from the I-T Department’s website

Capital gain statement

If the taxpayer invested in shares, mutual funds, etc., he is required to collect a capital gain statement. This statement will be issued by the broking house. It contains the details of all the short-term capital gains.

Even though taxes may not be required to pay on long-term capital gains, the details of the same are to be mentioned in capital gain statement.

Aadhaar number

There is a stay order on the Aadhaar and PAN linking mandate, as the judgment is pending in the Supreme Court. However, it is recommended to keep the Aadhaar card ready as you are needed to provide your Aadhaar number in the ITR form. Aadhaar number makes the e-verification process simpler as you would just have to use the One Time Password (OTP) that is sent to your phone number which is registered with your Aadhaar.

Source: https://www.taxgyata.com/ap/income-tax-return-filing-list-of-required-documents/

[easyquickreturns]

New IT Rules Of 2021 You Must Need To Know

Filing income tax returns or ITR can be an irritant for many who do not have the proper knowledge of rules governing income tax in India. Adding misery to that, many of these rules change or frequently update with the presentation of the annual union budget.

However, with the introduction of the e-filing system, filing income tax return is no longer a tedious process. You don’t have to be a tax wizard to file your returns successfully. A little awareness on your part is all that is needed to sail through the complete process of filing your tax returns.

Check this post to know the basic income tax rules and why you should consider e-Filing your income tax return.

Basic Terms Related to Income Tax

Following are some basic terms that you need to understand before delving deeper into rules of income tax return and e-filing:

● Financial year and assessment year

A financial year (FY) starts from April 1 and ends on March 31. The assessment year (AY) is the year following the financial year.

For example, all income earned between the period April 2020 to March 2021 falls under the FY 2020-21 and the AY 2021-22. Hence, filing ITR for FY2020-21 and AY2021-22 is the same.

● Income

The total earnings of any individual or firm from any sources in a financial is considered as income from that financial year. This may include income from salary, rent, selling of property, dividends from shares, bank interests, pensions, profits from businesses, or any other legitimate source.

● Income tax

Income tax is one of the primary sources of revenue for the government. Every person in India whose taxable income exceeds the tax-exemption limit requires paying income tax and filing income tax returns. However, individuals whose collective income from all sources in a financial year does not exceed the tax-exemption limit must not pay income tax.

● Income tax slabs

Depending upon their income in a financial year, taxpayers are categorized under different tax slabs with varying income tax rates.

● Income tax return (ITR)

An income tax return is a form that an individual or a firm is supposed to submit to the Income Tax Department of India for each financial year. The ITR contains information about the income and the corresponding taxes to be paid, if any, by that person or firm.

New Income Tax Rules of 2021:

Read More About New Rules…

Contact Us For Online ITR Filing 2021

Solar Costa Campos, 31 Jan road, Panjim, Goa   

+91 9764194196

info@easyquickreturns.com

Easyquickreturns.com

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ITR-1 form is for resident individuals having total income up to Rs 50 lakhs from income from salaries, one house property, other sources. File ITR1 online for AY 2021-22

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File Income Tax Return for Army Person or Defence Personnel

Filing ITR can be a tough task and there are times when taxpayers forget to mention certain details, among these details are your income from other sources. There are incomes that you may forget while filing Income Tax Return for army person, defence personnel, salaried person, and government employees but if the Income Tax Department traces the income that you have not disclosed then there are chances that you will be penalised.

Income Tax Return (ITR) filing services for all the Army Person or Defence Personnel. It is a completely online process wherein soldiers don’t need to go anywhere, they just need to upload the required documents and then our team of qualified CA’s will evaluate & file accurate Income Tax Return for Army Person according to the information you provide the earliest. As per the income tax laws, ITR must be mandatorily filed if a resident individual's total income during the financial year exceeds the basic exemption limit. Remember, the basic exemption limit for an individual depends on his age.

Which ITR form should I file?

The type of ITR ‘ll depend upon your sources of income. ITR has been prescribed for Indian Army personnel. If your income is from Salaries, Other Sources (Interest etc.), and Agricultural Income upto Rs.5 thousand, if you don’t have more than one House Property, and your total income is not more than Rs. 50 lakh, then use ITR-1. Otherwise use ITR -2.

Income Tax Return Slab

By knowing the income tax slab, our subscribers like Military Personnel i.e. (Indian Army, Indian Navy and Indian Air Force), Paramilitary Personnel(CISF, CRPF, BSF, ITBP, Indian Coast Guard & Assam Rifles) and Ex-servicemen will be able to calculate the total tax they need to pay to the government this financial year 2020-21.

New Income Tax Slab for FY 2020-21 (AY 2021-22)

New Income Tax Slab for Senior Citizens in 2020-21

Hence, we urge army person,  defence personnel, salaried person, government employees, para-military soldiers & Ex-servicemen to file income tax return (ITR) every year & not only file it when you are getting refunds. How to filing income tax return online, file ITR online, ITR Filing, Filing IT Return online income tax website Visit: https://www.loan4fauji.com/file-itr

[sunshineweb]

Atmanirbhar Bharat – 5 Benefits for Individuals

Yesterday Finance Minister Nirmala Sitharaman announced many measures to fight the economy due to COVID 19 under the Atmanirbhar Bharat. Let us see what are the five major benefits for individuals.

There are many economical measures were announced. However, in this post, I am concentrating on major points that will benefit individuals.

Atmanirbhar Bharat – 5 Benefits for Individuals

In many ways these benefits were accounced. But implementing the same is the biggest task for the Government.

1. Deadline for filing FY 2019-20 Income Tax Return has been extended

The deadline for filing FY 2019-20 Income Tax Return has been extended from 31st July 2020 to 30th Nov 2020. This I think benefits to many as its postponing your tax payment from the last date of 31st July 2020 to 30th November 2020. Big relief to those who have to pay the tax from their own pocket while filing the IT Returns.

Similarly, the tax audit due date will be extended to 31 October 2020. Also, the date for making payment without additional amount under the “Vivad Se Vishwas” scheme will be extended to 31 December 2020.

2. Reduction in TDS (Tax Deduction at Source) and TCS (Tax Collected at Source)

The TDS rates for all non-salaried payments to residents and tax collected at the source rate will be reduced by 25% of the specified rates for the remaining period of FY 20-21. This will provide liquidity to the tune of Rs 50,000 Crore.

I have already written a post on this. You can refer for the latest TDS rates at “Latest TDS Rate Chart for FY 2020-21 (AY 2021-22) – Effective from 14th May 2020“.

Do remember few things here:-

Slashing TDS or TCS will not reduce your tax outgo. You have to pay the applicable tax at the time of filing the ITR. You are just postponing your tax payment during this TDS or TCS process. Hence, it is not a rejoicing point for many individuals. AVOIDING OR POSTPONING YOUR TDS/TCS IS NOT AVOIDING TAX.

There is no change in TDS rates for Salaried.

This reduction in TDS rates will not be applicable to NRIs.

3. EPF Contribution by Government

Under the PM Garib Kalyan Yojana, earlier the Government announced that it will contribute both employer and employee contribution for the months of March, April, and May. It is now extended by another 3 months for salary months of June, July, and August 2020.

It is not that all employees are eligible for this beenfit. There are certain conditions to it. They are as below.

# You must be a member of EPF.

# Your salary (Basic+DA) must be less than Rs.15,000.

# Your company must be employed up to 100 employees.

# Under such total employees, 90% or more than such employees earning monthly salary of less than Rs.15,000 (Basic+DA).

# This Scheme will be valid for wage months- March, 2020, April, 2020 and May 2020. Now it is extented for the months of June, July and August 2020.

# Your UAN should be seeded with Aadhaar Card.

# Your EPF and EPS contributions are at least from last 6 months i.e September 2019 to February 2020.

# EPF members who are not EPS members due to completion of 58 years shall be eligible provided other conditions are fulfilled and the contribution from Central Govt. will be credited to his EPF account.

# Even the exempted eshtablishments are also eligible for this (provided, they are fulfilling above eligibility).

# If you are Aadhaar is not seeded with UAN, an Online e-KYC facility is available to the member on EPFO Portal as well on UMANG mobile App to self-validate their UAN with Aadhaar without any intervention by Employer. This is in addition to Online Aadhaar validation in member’s UAN by the employer. Since the validation is Online, the seeding of Aadhaar in UAN can be completed now also.

Refer the FAQs in this regard at EPFO Website.

I have written a detailed post on how to avail this benefit. Refer the same at “EPF Subscriber – Govt credit 3 months contribution to EPF account.

4. EPF Contribution reduced for Employers and Employees for 3 months

Statutory PF contribution of both employer and employee reduced to 10% each from the existing 12% each for all establishments covered by EPFO for the next 3 months.

If you not falling under the eligibility of what I have explained in the above point 3, and if your EPF contribution is statutory EPF contribution, then instead of regular 12% contribution from both employer and employee, now it reduced to 10%.

Assume that your salary (Basic+DA) is Rs.15,000. Earlier you used to contribute Rs.1800 and your employer also used to contribute Rs.1,800 (from both ends 12% of Basic+DA). From now onwards, for the next three months, it is at the rate of 10%. Hence, your EPF deduction will be Rs.1,500 and it saves your Rs.300 contribution. The same way from the employer contribution.

Hence, your take home will increase to Rs.300.

5. Tax Relief for Business and Professionals

The pending income tax refunds to charitable trusts and non-corporate businesses and professions including proprietorship, partnership, and LLPs and cooperatives shall be issued immediately.

Conclusion:-If you noticed all the above 5 benefits, you realized that even though they are not so big game changer but gives you certain small relief. Let us hope for the betterment of our future in fighting against the Corona Virus.

Refer our latest posts:-

SBI WeCare Deposit Vs Senior Citizens Savings Scheme (SCSS) – Which is the best?

Who is eligible for Pradhan Mantri Awas Yojana (PMAY) 2020 – 2021?

Atmanirbhar Bharat – 5 Benefits for Individuals

State Bank Of India 9.95% (SBIN-N5) Bond – Should you invest 9% Yield Bond?

How to correct/update Bank details in EPF/UAN online?

Know your UAN Status online link – Using Member Id, PAN or Aadhaar

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