Tax return india

Free for Simple Tax Returns. Maximum Refund Guaranteed. Industry-Specific Deductions. Get Every Dollar You Deserve. Is it mandatory to file income tax return in India?

How to file income tax returns in India? How is tax calculated in India? Do I have to pay tax both in India and US? Since from starting of online returns I am using the facility , it is always a better year after year. I am late to appreciate but the Portal is really awesome and very user friendly.

Nice initiative by Income Tax India ,this website saves lots of time and a great step towards Digital and Cashless India. Income tax return ( India ) Income Tax Return is the form in which assessee files information about his Income and tax thereon to Income Tax Department.

Various forms are ITR ITR ITR ITR ITR ITR and ITR 7. When you file a belated return , you are not allowed to carry forward certain losses. The Income Tax Return filling is the process of declaring the total income of an individual or a firm to the Income Tax Department of India , at the end of each financial year. The types of income include: Income from Salary, wage, commission, Interest on Bank Account, Dividend from Shares, Rent, Royalties on which no tax is deducte or any other part time income. The Income Tax Department NEVER asks for your PIN numbers, passwords or similar access information for credit cards, banks or other financial accounts through e-mail.

An individual’s tax return must be filed by July immediately following the end of the tax year on March. There is no concept of extended return in India. However, belated return (i.e. after due date) can be filed. Though filing ITR can be a tedious task, it comes with a number of advantages: Advantages of filing tax returns.

Filing IT returns makes you a responsible citizen of your nation. File Your Tax es Without Leaving Home. Prevent new tax liens from being imposed on you. Available Nights And Weekends. Connect With A Live Tax CPA.

Answer: Income Tax Return or ITR is a formal form by which the particulars of the income of an individual in one financial year and the taxes paid on that income are provided to the Income Tax Department of India.

This form also permits the transfer of loss and claim return from the Income Tax Department. What Is The Last Date For Filing Income Tax Returns in India ? The last date for paying income tax returns in India is July 31st. If you have a tax liability for more than INR 10for the current financial year, you may have to pay your income tax in advance.

It was a tax selectively imposed on the rich, royalty and Britishers, and hence was not liked by the powerful. This period in which the income is earned is known as the Financial Year or Fiscal Year. The income tax returns are filed and taxes for a company are usually paid in the next year after the end of the Financial Year. I live in US but I pay taxes and file returns both in US and India. The question is, can I claim tax deduction for mortgage interest both in India and US?

One CPA I talked to said there is. You should only call if it has been: days or more since you e-filed. Access IRS Tax Forms. Complete, Edit or Print Tax Forms Instantly.