Services (Begusarai)

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A taxpayer may want to file his income tax return for reporting his income for a financial year, carrying forward losses, claiming an income tax refund etc. An income tax return is a form which enables a taxpayer to declare his income, expenses, tax deductions, investments, taxes etc. The Income Tax Act, 1961 makes it mandatory under various scenarios for a taxpayer to file an income tax return. The Income Tax Department provides the facility for electronic filing (e-filing) of an income tax return. Before discussing the steps involved in the e-filing of income tax return, it is essential for a taxpayer to have the necessary documents at the ready. E-filing compulsory for a certain section of Income Earners The due date for filing return with the Income Tax Department of India is 31 July every year. This is subject to change only if a directive to this effect is issued by the Income Tax Department or the Ministry of Finance, India. The Financial Year ends on 31 March every year so Assessees have a period of four months to prepare their Income Tax Returns. Earning Income through a salary or pension Income through House Property. An individual who is designated as a partner in a Partnership Firm is not eligible to fill the ITR-2 Form. Special concession for salaried personnel Salaried personnel who earn an income of Rupees Five Lakh or less are exempted from filing Tax Returns as per the directive of the Income Tax Department of India. This rule however is only applicable to those who earn less than Rupees Ten Thousand as Income by way of Interest earned through their Savings Bank Accounts. Those who earn Rupees Ten Thousand or more are required to file their Tax Returns. Contact us Kinfo Spectrum Services Abha Cottage , Gachhi Tola Station Road Near Champa Bawan Begusarai Bihar 851101 8676859933 kundan.service@yahoo. com https:/ / www.kinfobusiness.in/