Income Tax Return Filing

Calculating and filing income tax in time by understanding all the nuances associated with it is not just difficult but also tricky considering the sections, deadlines and subtleties surrounding them. I have been through this recently and was able to learn a lot of things along the way. …

If you miss the deadline to file your income tax return (ITR) for FY 2020–21, don’t worry, you can still file your ITR till 31st March 2022! An ITR filed after the due date is called a ‘Belated Return’ under Section 139(5) of Income Tax Act 1961. …

E-filling portal, taxpayers are well aware of this word. Tax is like a fuel that runs the entire nation. And the collecting source of it is called the e-filling portal. But constant change is the universal rule. That’s why some changes also occurred in this portal for its betterment. After…

As per the Income Tax laws, any individual whose primary source of income is salary has to file Income Tax Return-1 or ITR-1 form, commonly known as SAHAJ form. In order to file ITR-1, the salaried individual must fulfil the following conditions: – He is a resident of India – His income…

Have You Heard Of The Free File Alliance? Created in 2001, the Free File Alliance, LLC is a group of tax software companies who entered an agreement with the IRS to provide free federal tax return electronic filing and free assistance with tax preparation. These services are free to individuals who meet certain criteria such as income, age…

Since last few years, a java based utility to prepare and file ITR is made available by the IT department of India. I find this utility very simple to use (once you have collected all the required data w.r.t. your ITR). However, there are some technical issues I faced while…