When Are LLP Tax Returns Due Limited Liability Partnerships (LLPs) have become a popular business structure for entrepreneurs and professionals due to their flexibility and limited liability protection. However, like any other business entity, LLPs must comply with tax regulations, including filing income tax returns. Understanding when LLP tax returns are due is crucial… Read More »
ITR for non-salaried person For non-salaried individuals in India, the Income Tax Return (ITR) form to be filed depends on the nature and source of income. Here are the common ITR forms applicable to different types of non-salaried individuals: ITR-1 (Sahaj): This form is applicable if you have income from salary, one house property,… Read More »
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 »
Where to file ITR Where to file ITR, Income Tax Returns (ITR) in India can be filed electronically through the official website of the Income Tax Department of India, known as the e-Filing website. Here are the steps to file ITR in India: 1. Visit the e-Filing website: Go to the official e-Filing… Read More »
ITR Filing Last Date What is the Last Date for Filing ITR? Filing your Income Tax Return (ITR) on time is crucial for avoiding penalties and ensuring compliance with tax regulations. Understanding the last date for ITR filing helps you manage your finances and avoid last-minute stress. Here’s a quick guide to the… 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 »
ITR filing of individual ITR filing of individual: To file your Income Tax Return (ITR) as an individual, you can follow these steps: Gather your documents: Collect all the necessary documents, including your PAN (Permanent Account Number), Aadhaar card, bank statements, Form 16 (if applicable), investment statements, and other relevant financial documents. Determine the… Read More »
ITR with form 16 ITR with form 16, to file your Income Tax Return (ITR) using Form 16, which is a certificate issued by your employer summarizing your salary income and tax deductions, you can follow these steps: 1. Gather your documents: Collect all the necessary documents, including your Form 16 and other relevant… Read More »
ITR Without Form 16 Yes, you can file an Income Tax Return (ITR) without Form 16. Form 16 is a TDS certificate issued by your employer that provides details of the salary paid to you and the taxes deducted at source (TDS). However, if you have the necessary information regarding your income and deductions, you… Read More »
ITR Filing Without Tax Payment: Filing an Income Tax Return (ITR) is a legal obligation for individuals and entities whose income exceeds the prescribed limit under the Income Tax Act. However, not everyone who files an Income tax return is required to pay tax. Many people believe that filing an Income tax return… Read More »
