ITR Filing: 11 Frequently Asked Questions on Income Tax Return Filing

When it comes to filing Income Tax Return (ITR), most of us get scared. We have created an air of fear around the whole concept of income tax. This fear is nothing but lack of knowledge & guidance related to income tax return filing. With the aim to relieve everyone of this fear & reluctance.… Continue reading ITR Filing: 11 Frequently Asked Questions on Income Tax Return Filing

How do I Fill Salary Details in ITR 1 Sahaj Form for FY 2017-18

Do you earn income from salary? Then you must be worrying about filing your ITR 1 form FY 2017-18. Well, it’s a topic worth worrying coz of new salary details asked by the Income Tax Department. Till FY 2016-17, while filing income tax return (ITR), the only details required were of gross salary/ pension income.… Continue reading How do I Fill Salary Details in ITR 1 Sahaj Form for FY 2017-18

How To Fill Deductions In ITR 1 Sahaj Form

Do you want to save money? The answer to this question is an obvious YES! Who doesn’t want to? We’ve got some good news for you. If you are filing your ITR using form ITR-1 or Sahaj Form then you can save lot of money. You must be aware that income tax return is required… Continue reading How To Fill Deductions In ITR 1 Sahaj Form

7 Must Have Documents While Filing ITR 1 Sahaj Form

Imagine you are in middle of something important like filing ITR & all of a sudden you realize that a document is missing. It feels frustrating right?That’s why we bring to you some last minute must have documents while filing your income tax return.Although, there are many different ITR forms and the requirement of documents… Continue reading 7 Must Have Documents While Filing ITR 1 Sahaj Form

How To Calculate House Property Income for ITR 1

Do you own a house? Or do you earn income from rent? If yes, then you need to take care while selecting which ITR form to use while filing your return.As income from house property needs to be considered in your ITR. Failing to which can invite troubles for you.There are basically 2 situations for… Continue reading How To Calculate House Property Income for ITR 1

Fees for Delay in Filing Income Tax Return u/s 234F

In the wake of increasing the tax payers base multifold and ensure a strong control over compliance in the country. The income tax department has been putting lot of efforts for last couple of years by constantly spreading the awareness on a mass scale via different mediums like TV, radio, newspaper ads, social media etc.,… Continue reading Fees for Delay in Filing Income Tax Return u/s 234F

Missed filing income tax return for FY 2015-2016 & FY 2016-2017

We come across a lot of people, some are always late for everything and some are bang on time. Laziness, unawareness or busy schedule whatever the reason maybe if you are one of those defaulters who missed the last date (March 31, 2018) to file income tax returns (ITR) for the financial year 2015-16 and… Continue reading Missed filing income tax return for FY 2015-2016 & FY 2016-2017

How To Check If My ITR Is Filed With Income Tax Department

Income tax return filing, this one term has so much embedded in it. There are a series of activities which take place after filing ITR. The return shall be submitted, verified and processed. How to be sure that the return you filed has actually reached to the Income Tax Department? Being income tax filers we… Continue reading How To Check If My ITR Is Filed With Income Tax Department

Is NRI having Interest income from NRO account required to file Income Tax Return in India?

NRI comes with a bundle of increased responsibilities. You need to comply with both Indian and international taxation laws. After leaving India, many people do not have any income source in India other than Interest Income from NRO account. The next question that comes to one’s mind is “Is NRI having Interest income from NRO… Continue reading Is NRI having Interest income from NRO account required to file Income Tax Return in India?

Revise your income tax return u/s 139(5) before 31st March

With 31st March 2018 ending in next 168 hrs , it is very important to have knowledge of Revised Returns. Its comprehension becomes even more vital  because “ ITR FOR AY 2016-17 COULD NEVER BE FILED & REVISED LATER THAN 31ST MARCH 2018” What is Revised Return? When you have already filed an income tax… Continue reading Revise your income tax return u/s 139(5) before 31st March