ITR Filing is Mandatory Income tax return (ITR) filing is mandatory in several situations in India. Here are ten common scenarios where individuals are required to file their ITR: ITR filing is mandatory in 10 situations: 1. Income above Basic Exemption Limit: If your total income before claiming any deductions exceeds the basic exemption… Read More »
ITR for Salaried Person For salaried individuals, the applicable Income Tax Return (ITR) form in India is typically ITR-1 (Sahaj) or ITR-2. The choice between these forms depends on certain factors such as the level of income, the presence of other sources of income, and the eligibility for specific ITR forms. Here’s a… Read More »
Types of ITR filing Types of ITR filing, In India, there are several types of Income Tax Return (ITR) forms available for different categories of taxpayers. The selection of the appropriate ITR form depends on the nature of income, source of income, and the individual’s or entity’s status. As of my knowledge cutoff in… Read More »