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May 9, 2024 · 7 reasons to file your ITR on time. In this article, we will discuss seven reasons why you must file your ITR and what benefits you can get from filing ITR. Helps with loan applications ; Regular ITR filing can increase your loan eligibility. The ITR is considered by banks and other financial institutions as evidence of income and financial ...
Oct 20, 2021 · ITR is essentially a type of self-declaration by the taxpayer of their income, assets and applicable taxes paid. While it is mostly filed in the electronic mode, there is an option for senior...
May 15, 2023 · Filing an Income Tax Return (ITR) is an important annual obligation for individuals in India. It helps in reporting and assessing their income, ensuring compliance with tax laws, and determining the tax liability or refunds owed to them.
E-filing refers to the process of filing an Income Tax Return (ITR) online, using the Internet. By accessing the new income tax portal using PAN-based login credentials, individuals can take advantage of a range of features that simplify the tax filing process.
2 days ago · Taxpayers eligible to file ITR for FY 2023-24 can now file their ITR as the income tax department has opened ITR filing for 2023-24 online. It is important to note that the last date to file ITR for FY 2023-24 is 31st July 2024.
Jul 11, 2024 · Why Should You File ITR? If you want to claim an income tax refund from the department. If you have earned from or have invested in foreign assets during the FY. If you wish to apply for a visa or a loan. If the taxpayer is a company or a firm, irrespective of profit or loss.
1. Who is eligible to file ITR-1 for AY 2024-25? ITR-1 can be filed by a Resident Individual whose: Total income does not exceed ₹ 50 lakh during the FY. Income is from salary, one house property, family pension income, agricultural income (up to ₹5000/-), and other sources, which include: Interest from Savings Accounts.
The pre-filling and filing of ITR-1 service is available to registered users on the e-Filing portal. This service enables individual taxpayers to file ITR-1 either online through the e-Filing portal or by accessing the offline excel and html utility. This user manual covers the process for filing ITR-1 through the online mode.
Overview. The pre-filling and filing of ITR-2 service is available to registered users on the e-Filing portal. This service enables individual taxpayers and HUFs to file ITR-2 through the e-Filing portal. This user manual covers the process for filing ITR-2 through online mode. 2. Prerequisites for availing this service. General.
Jul 29, 2023 · As per the income tax laws, filing of ITR is mandatory if an individual has done certain specified transactions or has a gross total income above the basic exemption limit for FY 2022-23 (AY 2023-24). If an individual’s taxable income exceeds the basic exemption limit, then ITR filing becomes mandatory.
