File Tax Refund With Easy Steps

What is Income Tax Retun ?

ITR 2
INCOME TAX RETURN
2018-19

ITR 1

SAHAJ

INCOME TAX RETURN
2018-19

ITR 3
INCOME TAX RETURN
2018-19

ITR 1 SAHAJ
INCOME TAX RETURN
2018-19

Income Tax Return is a form where individual (assesses) file their information about his income and Tax and submit the form to Income tax Department . These form help the individual to calculate his/her tax liability, or shedule tax payment or request refund for the overpayment of taxes from the Income Tax Department


The Income Tax Act 1961 and 1962 bounds the Indians Citizen to file their income tax return after the Financial Year (F.Y.) and before the endig of the Assessment Year(A.Y.)


For filling of Income Tax Return in Respect of preceding Financial Year (i.e. ongoing Assessessment Year ) following form have been prescribed by Income tax Department

  • ITR 1 SAHAJ
  • ITR 2
  • ITR 3
  • ITR 4
  • ITR 5
  • ITR 6
  • ITR 7

Benefits Of Filling Return Every year ?

Every individual taxpayer is mandatorily required to file the Income tax Return whose gross taxable income of all heads exceeds the basic exemption( i.e. 2,50,000) limit before claiming the exemption's . And there are several benefits of filling the Income tax return

  • Easy Processing Of Loan :

    The Income Tax Refund reflect the income and tax liability of the assessee which act as a financial certificate of the assessee and creates the finacial credibility of the assessee which in turn is very helpul for processing of loan from the banks . That is the reason all major banks ask the copy of the income tax refund

  • Claim Tax Refund :

    If the Tax laid upon you is less then the Tax paid by you then individual can claim for the Refund from the Income Tax Department (ITC) for that they have to file return without which you have to forgo the refund . Taxpayer can also have some exemption under diffrent section of Income Tax Act 1961 while filling the return .

    Some taxpayer also primarily investing through fixed deposit . On such investment Tax is deducted at Source (TDS) at 10 per cent . If the Individual total taxable income is less then the 2,50,000 then he can claim for full refund .

  • Foreign Travel/Visa Processing :

    Since ITR Reciepts shows that the individual have some Source of income in india thus strenghtning your case as individual will not leave the Country for good but will return. So if you wish to travel overseas then you must have ITR copy Since foreign consulates askk for the ITR receipt of the last couple of years at the time of the visa interview or maybe three years receipt. So it is important to file your return

  • Buying A High Life Cover :

    Having a high live cover has become trendy in todays era . However these cover are only availabel against your ITR documents to verify the anual income of individual Insurance company always ask for the ITR copy if you tend to buy policy with sum insured of 50,00,000 or more . These policy will only be provided when your ITR meets certain annual income of yours and others factor also

Steps To File Income Tax Return ?

ITR 1

2018-19

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Why Us

  • Because We have 10 years of experience In this field
  • Because Selection of right ITR and preperation are done by Our Expert Ca/Cs/Advocate
  • Because we have Expert Taxation Advocate and CA from all over India who will always guide you for maximum tax saving
  • Becasue Provident Action are taken By our team in order to optimize your deduction
  • Because We provide every services to you on time and with perfection
  • Becasue we provide cash back gurantee if You have satisfied the T&C
  • Because provide full assistance until the ITR is filled and also asssit you with any notice form Income Tax Department
  • Becasue when you join with us you just have to relax and all the work will be completed with perfection and within the given time frame

Document Requred To file Income Tax Return

You Must Procure All Listed Doccument Before Filling Income Tax Return

  • Permanent Account Number (pan)
  • Addhar Number
  • For Salaried Person

  • Form 16 or Form 16A issued By your Employer
  • Form 26As From the IT department
  • For Business Person

  • Profit ad Loss Account and Balance Sheet
  • Books Of account(if Required)
  • Bank Statement
  • Sales Register or details of all purchases (including Capital Asset) and Expanses during the Financial Year
  • Registration certificate
  • GST Return
Note*  If You fill Income Tax Reutrn with Us then only Document Required is form 16

Document Requried to claim Deduction Under Certain Heads

Any Of the following Document is Required
    All Investment and Donation
  • Investment Made under PPF (Public Provident Fund), NSC(National Savings Certificate) , ULIP(Unit Linked Insurance Plan)
  • Investment made in LIC(life Insurance Policy)
  • Contribution Made In NPS( National Pension Scheme )
  • Tution School Fees Of 2 Children
  • Interest paid On Loan For Higher Studies
  • Stamp Duty and Registeration Charges Paid
  • Donation For Scientific research or Rural development
  • Donation to any Political Parties recognised by electoral Department of India
  • Interest Paid on Housing loan this relief is allowed for self occupied property or deemed let out property . The amount of relief is 2,00,000
  • Income Received From Interest
  • Bank Statement For income earned from Interest
  • Income statement for the interest earned from Fixed deposit
  • Certificate Received from the bank or from the other's

What is Form 26AS

Form 26AS is Just a summary of all the tax paid on behalf of you By the employer ,bank or by any other person or department .In the form of advanced Tax , Tax Deducted at soure Or Tax Collected at Source.This document is very usefull since this tells how much tax is deducted by the deductor.
Form 26AS reflects all the advance tax or Self - Assessment Tax that you may have paid in Current Financial Year along with the date of such Credit .And it Also reflect TDS OR TCS i.e. Tax Dedected at source or Tax Collected at Source
It also Refect the Annual Information Return(AIR), which if filled by bodies based on what an assesse has invested or spent ,high-valued transaction are mostly undertaken in AIR . So if the Total amount in savings account cross the 10 Lakh the bank will send an Air To the Income Tax Department or The investement made on mutual fund exceed 2 lakh or investment on a credit card exceed 2 lakh
From 26As also reflect refunds received from the Income Tax Department along with the interest amount with the date of credit in the bank account
Details of Taxes in the form 26As are based on data submitted by the employer or other parties as deductor ,after the confirmation from the bank that the tax have been collected from assesse
It is always adviced to Go through the form 26AS before filling the Income Tax Return Because any discrepancy could lead to the tax notice by the Department . Alwasy Go through the form 26As that any income that is reflected in the From 26AS match the income received by you .If it dosn't match then ask your deductor for revised TDS return.

What is Form 16

Form 16 is TDS(Tax Deducted At Source) Certificate issued by an employer for a previous Financial Year at the beginning of the Assessment Year or end of Financial Year. If stated in Simple Language form 16 is just a salary or Income certificate issued by employer for all his employees .This certificate contains all infomation about your salary ,tax deduction etc which will help the taxpayer to file their income tax return with the income tax department

Form 16 Comes under section 203 of Inocome Tax Act 1961 which states that every person being an employer should furnish the certificate to the person on whose income the tax is collected. Which specifies the income of the taxy payer and also states that the tax is paid to the central goverment i.e. Income Tax Departement

Form 16 basically contains two part i.e. Part A and Part B.

Part A reflects as the proof of the tax deducted by the employer and contains all the Tds information it is also know as Form 16A.Part A also reflects the TAN (Tax Deduction Account Number) of the employer & PAN (Permanent Account Number) details of bothe the employer and employee . The name and address of both the employee and employer is mentioned

Part A reflect the following details

  • Certificate Number
  • Your name and address and also that of your employer
  • Your Permanent Accouunt Number (PAN) and that of your employer
  • Tax Deduction Nubmer (TAN) of your employer
  • Range of Commissioner of Income Tax (CITDS)
  • Assessment Year
  • Period For which the Certificate belongs too
  • Quater wise information of the amount of salary paid to you. Receipt numbers of the quarterly TDS retruns filed by employer , TDS amount deducted and deposited in Indian Treasury Department by your employer in your name
  • Status of Matching with OTLAS if reflect `f` (indicating Final) if reflecting `u`(indicating Unmatched) . If in your case OTLAS verification shows `u` then tell your employer as fast as possible
  • Verificateion Details of Employer

Part B is an important part of your Form 16 since it has a cosolidated detail of salary paid to you during the year .It also reflects your detailed salary components , taxability of the same and the total amount of tax payable by you for the year against which TDS had been deducted. The breakup of your Salary as well as detail of deduction claimed by you under diffrent heads and section

Part A reflect the following details

  • Gross Salary
  • Exempted allownces under Section 10 of the Income Tax Act 1961 i.e. Conveyance allownace, house rent etc.
  • Deduction allowable from the salary income - entertainment allowance and prefessional tax
  • Total Income chargeable under the head 'Salaries ' based on the above figures
  • Tax saving deductions that your are eligible for like PPF , LIC ,Mediclaim etc
  • Tax on total income payable by you - This is the amount that the employer have deducted from the salary which is provided to you by him
  • If TDS deducted by employer is greater then the total taxable income your salary then you can claim for return while filling your return
  • Verification details of Employer

Testimony

Aksha Baksha
If TDS deducted by employer is greater then the total taxable income your salary then you can claim for return while filling your return If TDS deducted by employer is greater then the total taxable income your salary then you can claim for return while filling your return
Aksha Baksha
If TDS deducted by employer is greater then the total taxable income your salary then you can claim for return while filling your return If TDS deducted by employer is greater then the total taxable income your salary then you can claim for return while filling your return
Aksha Baksha
If TDS deducted by employer is greater then the total taxable income your salary then you can claim for return while filling your return If TDS deducted by employer is greater then the total taxable income your salary then you can claim for return while filling your return
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