Home > Financial > Procedure of Income Tax Filing India

Procedure of Income Tax Filing India

Added: (Wed Sep 25 2019)

Pressbox (Press Release) - Author Name: Ms. Aisha Garg
Email Id: aishagarg805@gmail.com
Website: https://www.taxolawgy.com/income-tax-filing-india/
Phone No :- +91- 89611 01101
Title:- Procedure of Income Tax Filing India

Press Release Body:-

Filing for income tax returns in India can be confusing for some. Since it is a mandatory process this article will explain you the ITR filing procedure under taxation policy in India in the simplest way.

To begin with the basics, an income tax return is the tax form utilized ITR filing with the Income Tax Department. The tax return is normally in a predefined worksheet format where the income figures used to determine the tax liability are transcribed into the documents.

The law states that individual or business that receive income during the year must file ITR annually, whether through regular income (wages), bonuses, interest, capital gains or other sources. Tax returns, of an individual or a business, must be filed by a specific date without any fail.

In any of the subsequent cases, the Income Tax Department has made it compulsory to e-file your Return. Paper returns can only be filed by those who are above 80 years of age. Individuals or HUF whose income does not exceed 5,00,000 INR and who haven’t claimed a refund in the return of income can also file paper returns.

Who is required to file income tax returns?
Mandatory Filing of Return in case of assets stationed outside India
What is the Due Date for Income Tax Filing India? The fiscal year 2018-19, AY 2019-20
Documents Needed for Filing Income Tax Returns

Every year it is important to file ITR on time as there exists a late filing fee on overdue ITR filing.

One can fill the ITR form online. This step by step guide will help you file your ITR on time at the ease of your house

Visit the e-filing website: https://incometaxindiaefiling.gov.in/

If you are a first-time user or filing your returns for the first time then click on the ‘New Registration’ tab and register yourself by providing important details and creating your profile and password. While creating your user ID, you must ensure that you have an active e-mail id and mobile number and it is cited correctly.

Submitted by:8961101101
Disclaimer: Pressbox disclaims any inaccuracies in the content contained in these releases. If you would like a release removed please send an email to remove@pressbox.com together with the url of the release.