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In the Income Tax Return (ITR), documents vary based on the source of income of the taxpayer. However, certain documents are mandatory for every taxpayer, regardless of how much they earn. The following ITR documents are required in FY 2021-22 (AY 2022-23). Card PAN When filing your income tax return, this is your first and … Read More “For ITR filing, what documents are required?” »
It will only take a little over a week for individuals to file their income tax returns without incurring any penalties. It is important that you file your income tax return by the end of this month if you wish to avoid paying any penalty charges. For assessment year 2018-19 (financial year 2017-18), individuals have … Read More “Tax Returns Must Be Filed by the End of the Month” »
How does an ITR work? Taxpayers like you and I declare our tax liabilities, claim tax deductions, and report gross taxable income via an Income Tax Return. Your Income Tax Department handles that as an assessee. In a financial year (1 April through 31 March), if you earn more than a certain amount, you must … Read More “What Are the Reasons for Filing an ITR?” »
An individual is required to file an income tax return by July 31 of each assessment year. In the case of income that is chargeable under the heading-Income from business or profession, and whose accounts are undergoing an audit, the due date to file the return is September 30th. Modes of filing the return of … Read More “How to File Your Income Tax Return?” »
Those taxpayers who are subject to audit must file their income tax returns by October 31, 2022 for fiscal year 2021–2022. The amount of revenue generated each year and the source of income, such as a salary, business profit, investment profit, etc., determine how an income tax return is filed. In order to complete this … Read More “Checklist of Important Documents Required for ITR Filing” »
