It's tax filing season. You have to e-file your income tax returns for FY 2017-18 (AY 2018-19) by July 31st. The Income Tax Department is watching you, so make sure you file Income Tax Returns (ITR) in time.
The income tax department has made tax e-filing really easy. The Tax Department has opened an e-filing portal and you and other citizens who are eligible to file ITR Form-1 popularly called Sahaj can easily e-file tax returns.
Want to know more on Tax Planning? We at IndianMoney.com will make it easy for you. Just give us a missed call on 022 6181 6111 to explore our unique Free Advisory Service. IndianMoney.com is not a seller of any financial products. We only provide FREE financial advice/education to ensure that you are not misguided while buying any kind of financial products.
If you are a resident Indian with income up to Rs 50 Lakhs a year from your salary and also one house property, then you have to file ITR Form -1 also called Sahaj.
So, when do you file ITR Form-1 (Sahaj)? You file ITR Form-1 if your total income for the Financial Year 2017-18 (AY 2018-19), includes:
You cannot file ITR Form-1 if you have agricultural income more than Rs 5,000; you own foreign assets, capital gains from a business, or income from more than one house property.
You can easily e-file ITR Form-1 on the income tax department’s tax e-filing portal. You must link Aadhaar with PAN before you e-file ITR Form-1. The deadline to link Aadhaar Card with PAN has been extended till March 31st 2019.
Before Filing ITR Form-1, make sure you have Form-16 and Form 26AS handy. Form 16 is an income certificate which gives details on TDS (Tax Deducted at Source) from under the head, “salaries”. Form 26AS is a form which shows that TDS deducted from your salary, has been deposited with the Government.
There are 2 ways of filing ITR Form-1 online:
SEE ALSO: How To Pay Zero Tax?
Keep your Financial Cognizance up to date with IndianMoney App. Download NOW for simple tips & solutions for your financial wellbeing.
Have a complaint against any company? IndianMoney.com's complaint portal Iamcheated.com can help you resolve the issue. Just visit IamCheated.com and lodge your complaint. If you want to post a review on any company you can post it on Indianmoney.com review and complaint portal IamCheated.com.
Be Wise, Get Rich.
This is to inform that Suvision Holdings Pvt Ltd ("IndianMoney.com") do not charge any fees/security deposit/advances towards outsourcing any of its activities. All stake holders are cautioned against any such fraud.