How do I submit my tax return online?
Step 1: Log in to the e-Filing portal using your user ID and password. Step 2: On your Dashboard, click e-File > Income Tax Returns > File Income Tax Return. Step 3: Select Assessment Year as 2021 – 22 and click Continue. Step 4: Select Mode of Filing as Online and click Proceed.
Taxpayer can file ITR 1 and ITR 4 online. Login to e-Filing portal by entering user ID (PAN), Password, Captcha code and click 'Login'. Click on the 'e-File' menu and click 'Income Tax Return' link.
What is e-filing portal?
Income Tax New e-filing 2.0 Portal is the official portal of the Income Tax Department, Ministry of Finance, and Government of India. The portal has been developed as a Mission Mode Project under the National E-Governance Plan.18-Jun-2021
Log on to the Income Tax Department portal (www.incometaxindiaefiling.gov.in) for filing returns online. Register using your Permanent Account Number (PAN), which will serve as the user ID. Under 'Download', go to e-filing under the relevant assessment year and select the appropriate Income Tax Return (ITR) form.
What happens if I dont File ITR?
Non-filing of ITR can lead to imprisonment, where the term can vary between 3 months and 2 years. Non-filing of ITR can lead to imprisonment, where the term can vary between 3 months and 2 years.
It is mandatory to file the income tax returns online for all the registered taxpayers whose taxable income. However, paper returns can be filed by those above 80 years of age who do not have any income from regular business or professional income.23-Jul-2022
Which ITR is for salaried person?
Thus, if a salaried individual has income from salary and capital gains, then he/she will be required to file an income tax return using the ITR-2 form.18-Aug-2022
No, you cannot file an ITR for the last three years together, that is, in one year.
Which ITR form should I fill?
Salaried people who earn money from the intraday stock exchange or futures and options trading should file Form ITR-3. Individuals may use ITR-3 to record revenue from jobs, real estate, capital gains, company or trade (including presumptive income), and other sources.
Who is eligible for e-filing?
According to Section 139 (1) of the Income Tax Act, 1961 of India, individuals whose total income during the previous year is more than the maximum amount not chargeable to tax, should file their ITR or income tax returns. When such individuals file their income tax returns online, the process is known as e-filing.
Tax Deductions under Section 80(C) Investments in PPF (Public Provident Fund) Investments in EPF (Employee Provident Fund) Investments in ELSS funds (Equity-Linked Savings Scheme) Investments in NSC (National Savings Certificates)09-Aug-2022
How can I file ITR for free?
It is nowhere mandatory to get your returns assisted with some legal professional or institution. You can file all your tax returns by yourself if you have the knowledge of all basic rules and procedures.
How do I file a zero income tax return?
Here's how it works if you do not have a tax filing requirement:
According to tax rules, filing of return of income is mandatory where an individual's gross total income is more than Rs 2,50,000 in a financial year. However, an individual who may not have taxable income is also required to file his income tax return if he meets some conditions.22-Jul-2022
Can I file ITR for last 2 years now?
Individuals can file returns for the previous years. This can only be done for the two years preceding the current financial year for which the returns have to be filed. Taxpayers are provided a two year period during which returns can be filed.
While it is advisable to file ITR on or before 31st July 2022 if one's annual income is above ₹2.5 lakh, it is also advisable for those whose annual income is below ₹2.5 lakh under certain circumstances. If an earning individual has incurred losses from the stock market, mutual funds, properties, etc.20-Jul-2022
What is the minimum limit for income tax?
If your income is below ₹2.5 lakh, you do not have to file Income Tax Returns (ITR).
But there are certain situations where the government provides exemptions to certain individuals, mainly senior citizens or super senior citizens. Starting FY 2021-22, super senior citizens aged 75 years and above are not required to file ITR if they meet certain criteria defined in the Income Tax Act, 1961.22-Jul-2022
Do I need to file ITR if income is less than 5 lakhs?
Under the new income tax regime, all individuals irrespective of age are required to file ITR if their income is above the Rs 2.5 lakh threshold; however, under the old regime, the threshold for mandatory filing of ITR is Rs 2.5 lakh for those below the age of 60; it is Rs 300,000 for senior citizens in the age bracket 17-Jul-2022
How do I submit my tax return online?