Financial year and Assessment year
Financial year: The Financial year is the time period which you have earned/received an income in a time period. Any income earned in the period...
Penalty for not Paying Taxes
The government can impose penalties on any individual or legal entity who evades taxes. The penalty is dependent on the category of the tax that...
Income Tax Slab Rates
Old Tax Regime GENERAL CATEGORY NON – SENIOR CITIZENS AGE BELOW 60 YEARS NET INCOME TAX RATES BELOW 2.5L NIL 2.5L TO...
Advantages of Paying Taxes:
Loan approvals: Filing taxes will help you to get easy loan approvals (Home loans, vehicle loans etc ITR copies are mandatory to get loans. Visa...
4. ITR-4 (SUGAM) – Applicable for Individual, HUF and Firm (other than LLP)
This return is applicable for an Individual or Hindu Undivided Family (HUF), who is Resident other than Not Ordinarily Resident or a Firm (other than...
3. ITR-3- Applicable for Individual and HUF
This return is applicable for Individual and Hindu Undivided Family (HUF) Having Income under the head Profits and Gains of Business or Profession Who is not...
2. ITR-2 – Applicable for Individual and HUF
ITR-2 IS APPLICABLE FOR This return is applicable for Individual and Hindu Undivided Family (HUF) Not having Income under the head Profits and Gains of Business...
IT Returns and Forms Applicable for Salaried Individuals for AY 2022-23
ITR-1 (SAHAJ) – Applicable for Individual This return is applicable for a Resident (other than Not Ordinarily Resident) Individual having Total Income from any of...
Income Tax Return Filing for AY 2022-23- Know about deadlines Click here to Know more….
Income Tax Department has already notified various ITR forms starting from ITR-1 to ITR-7? Filing of ITR on or before the due date is very...