What is The Process of Income Tax Return?

How Online Legal India Can Help You For Income Tax Return?

Filling return is necessary who earned an over 4 Lakh they must fill the income tax file of pre-determined due dates to avoid penalty. For the financial year, 2020-21 CBDT extended the due date to September 30, 2021. Income tax returns in India nowadays make it easier for the Government of India if you have to know the process.

Who are the Pertain of Income Tax Taxpayers?

It may be individual or salaried or Proprietor if they have not paid in deadline they should fill up the penalty 10000 INR. Private Limited Company, Limited Liability Partnership, and Any kind of partnership business. Online Legal India delivered ITR filing hassle-free.

Which Documents do We Need to Provide for Income Tax Filing?

You need to provide a pan card and an Aadhaar card. Need to provide all bank statements. TDS certificate for form 16 for all salary beneficial employees and form 16 A for all nonsalary beneficial people. This is applicable to all individuals or salaried people.

If you have a private limited company then you need a director pan and Aadhaar card, must have Company pan card, You must have Profit and loss statement, all bank statements must have investment evidence, LLP company all are approx same but little bit difference address, date of registration proof apart from this all others remaining same. Income Tax Filing must-do of all Indians.

Is It Mandatory to File Income Tax Return?

According to the tax supplying, filing income tax returns is necessary where the gross total income of an individual is more than Rs 2,50,000. It is the same knowledge that each Indian citizen whose gross total income overwhelmed the taxable limit in an annual year is necessary to file his/her inheritance tax return. IT return filing is the way to prove that you are a genuine Indian.

There are various ITR like ITR1, ITR2, ITR3, ITR4, ITR6, etc. you need to consult CA who can legally guide you on how to do.

What is The Minimum income When A Person Should Filled Tax of Income Tax Return?

2.5 lakhs (for FY 2018-19) is necessary to file an income tax return in India

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