In India, the citizens are supposed to pay two types of taxes, they direct tax, and indirect tax. Income Tax is a direct that is directly paid to the Government by the taxpayer. It is mandatory for everyone to pay income tax in India, (you can go to the government income tax website for income tax login) who is earning an income. The income tax that you pay to the Government is used for the betterment and development of the society. To deposit Income Tax, you will have to file Income Tax Returns, by visiting the official government website. There are different tax brackets, which may or may not change after every union budget and taxpayers are supposed to file Income Tax Returns accordingly. AllIndiaITR offers an Income Tax App for you on both platforms: Android and iOS.continue reading
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File your Income Tax Returns in Six Simple steps: -
- Firstly, for online tax filing, you will have to register yourself to the Income Tax Department’s official website.
- Then you will have to choose how you want to e-file your returns, you will be given two choices.
- Select the appropriate ITR Form as per your requirements.
- Keep your documents like PAN, Aadhar etc ready before you start tax filing returns.
- You need to fill the ITR Form and generate XML, then you will have to upload your form.
- Once you submit your ITR form, an acknowledgment number will be generated. In case the return is submitted using a digital signature, you just need to preserve this number. If the return is submitted without a digital signature, an ITR-V is generated and is sent to your registered email ID. You will have to send this ITR-V to CPC Bangalore within 120days of ITR filing return.
Well, there are two types of taxes in India, they are Direct Tax and Indirect Tax. Income Tax is a direct tax, which is directly paid by the taxpayer to the government. Everyone who earns or receives an income must pay Income Tax, it is mandatory for every citizen of India and NRIs as well. Taxpayer’s income is divided into different tax brackets or tax slabs and accordingly, the taxpayers will have to pay their income tax depending on the Tax Slab the fall in. In order to Deposit Income Tax, the taxpayers will have to Efile income tax return or IT return by logging into the official Government website, before the due date that is 31st July 2018.
Form 16 is provided to you by your employer in the case of your earnings surpassing the minimum tax exemption limit. If it is the case, then tax deducted at source (TDS) is deposited with the income tax department by your employer.
AllIndiaITR helps you upload Form 16 and gives you further assistance via our tax experts.
When you upload Form 16, it means you are verifying your income-related details that are provided by your employer with the income tax department and the amount of tax already deposited. There are two parts here - Part A and Part B. Part A includes information about the employee and employer, such as name, address, PAN and TAN details, duration of employment, TDS deducted amount, etc. Part B covers details of salary paid, other earnings, permitted deductions, tax payable, etc.continue reading
Time to file ITR for previous years is almost up. EFile ITR with AllIndiaITR to experience a hassle-free tax return filing. We offer custom-made ITR filing plans based on your needs - salary, salary + house property, salary + capital gains, foreign income, and more.
File ITR soon to avoid any penalty and the last minute rush which often leads to committing mistakes on your tax return. It also helps you use tax exemption in the next year, in case you have incurred capital loss in the previous year.
Also, filing a nil ITR has its own benefits. Banks before sanctioning a loan, always ask for your previous years’ income tax returns for credibility-check.continue reading