Efiling of your income tax return has become mandatory if your taxable income generated during the financial year 2012-2013 has crossed Rs. 5, 00,000. Earlier to this the limit was Rs. 10, 00,000. By doing this change central board of direct taxes has widened the scope of e filing of IT return. Due to this … Read More » "Debunking 5 common income tax return efiling Myths"
IT act provides two ways to file your income tax return and also provides different forms for different category of person. Before filing your ITR you need to first decide which provision of IT act is applicable to you. There two ways of filing your income tax return; Submitted electronically Submitted in paper format IT … Read More » "Format of Filing Your Income tax Return"
If you missed the deadline of filling your income tax return then don’t be panic. You can still file your IT return before 31st march of the assessment year. That means, if you are filling your ITR for the income earned in the year of 2012-2013 (i.e. from 1st April 2012 to 31st march 2013) … Read More » "What if I Missed the due date of filling income tax return"
Any person who has filled his income tax return online can rectify it within the rules and regulations of IT act, 1961. If there is any mistake in the income tax return which is apparent and the perosn or assessee has received an order under section 143 (1) of IT act 1961 then the changes … Read More » "How to raise a Rectification Request for your Income Tax Return Online"