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Step-by-Step Guide for online income tax return filing

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Income Tax Returns Income Tax is subjected to everyone and every business that earns an income in India through any services, products, pensions, savings account, businesses, etc. NRIs are also to pay taxes in India but only for the income generated with services they worked for in India and not in their resident country. Income Tax returns are taxes that re - funded to the tax payers in case the tax sheet shows that an excess amount has been paid in taxes by the tax payer. The income tax paid by the individual has to be shown on a sheet and filed within a particular date. If the income tax paid is higher than the required amount, then a tax refund shall be provided. For the online income tax return filing, there are certain steps set by the Income Tax Department which each and every person going through the online income tax return filing needs to follow to have a smooth process. E-Filing Income Tax Returns There are 2 processes one needs to go through for the online incom...
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Did you file returns? Income Tax offices to remain open from Mar 29-31

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New Delhi: Income Tax offices and Ayakar Seva Kendras (ASKs) will remain open during holidays from March 29-31 to facilitate taxpayers in filing returns before the end of the current financial year. The last date for filing belated returns for Assessment Years 2016-17 and 2017-18 and revised returns for Assessment Year 2016-17 is March 31, 2018. "To facilitate filing of Income Tax returns and completion of associated work, all income tax offices throughout India shall remain open from March 29-31, 2018, " a finance ministry statement said. While March 29 and March 30 are government holidays on account of Mahavir Jayanti and Good Friday respectively, March 31, the last day of 2017-18 financial year, is a Saturday. Banks too will be shut from March 29-30. "The ASK centres will also be kept open on these days. All efforts will be made to provide assistance to taxpayers and to facilitate filing of returns by them," the statement added. Read more: Latest Busin...
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How to File Income Tax Returns Online for Salaried Employee?

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Who is required to file income tax returns? If your income for the financial year 2016-17 has been more Rs 2.5 lakhs in India excluding the deductions from Section 80C and 80U, you have to file income tax returns (ITR). Even if you are an NRI, your income in India needs to be filed for ITR. If you are over 60 years old but less than 80 years, you are you required to file ITR if your income for 2016-17 is over Rs 3 lakhs before deductions. If you are over 80 years of age, then you have to file ITR if your income is over Rs 5 lakhs before deductions. If you want an income tax refund or want to carry forward your losses under any head of income (like loss from sale of equity shares). If you have had any long term capital gains during the financial year, you need to file tax even if your income is tax-free. If you are planning to apply for a loan or visa, you may be asked for proof of income tax filing. Register or Login Visit www.incometaxindiaefiling.gov.in. If have just started ea...
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