Is it mandatory to file tax return in India?
In any of the following situations (as per the Income Tax Act), it is mandatory for you to file an Income Tax Return in India. Your gross total income (before allowing any deductions under section 80C to 80U) exceeds Rs 2.5 lakhs in FY 2020-21.
When can we file income tax return in India?
The due date to file income tax return by individuals (Non-audit cases) for FY 2020-21 is 31st December 2021. If you file return after 31st December 2021, interest and late fees up to Rs 10,000 will be levied.
Who is the Director of Income Tax Department?
Income Tax Department is headed by the apex body Central Board of Direct Taxes (CBDT)….Income Tax Department.
| Agency overview | |
|---|---|
| Agency executive | Jagannath Bidyadhar Mahapatra, IRS, Chairman, Central Board of Direct Taxes |
| Parent department | Government of India |
What happens if I dont file ITR?
What happens if you do not file your ITR by December 31? In the event you miss out on filing your returns today, you will have to pay a maximum fine of Rs 5,000, a substantial reduction from the earlier levy of Rs 10,000. This is applicable in case your income is above Rs 5,00,000.
Is it mandatory to file income tax return below 2.5 lakhs?
2.5 lakh are not required to file ITR. For taxpayers aged above 60 years but less than 80 years, this exemption limit is Rs. 3 lakh and for taxpayers aged above 80 years, the exemption limit is Rs. 5 lakh.
How to file Income Tax Online in India?
Go to the Income Tax e-Filing portal, www.incometaxindiaefiling.gov.in Login to e-Filing portal by entering user ID (PAN), Password, Captcha code and click ‘Login’. Click on the ‘e-File’ menu and click ‘Income Tax Return’ link.
How do I file my income tax return?
The user can file the Income Tax Return (ITR) in two ways: 1. Offline: Download the applicable ITR, fill the form offline, save the generated XML file and then upload it. To e-File the ITR using the upload XML method, the user must download either of the
How to file Income Tax Return (ITR)?
Click on the ‘e-File’ menu and click ‘Income Tax Return’ link. Read the Instructions carefully and Fill all the applicable and mandatory fields of the Online ITR Form.
How to file ITR online using CAPTCHA?
Login to e-Filing website with User ID, Password, Date of Birth /Date of Incorporation and enter the Captcha code. Go to e-File and click on “Upload Return”. Select the appropriate ITR, Assessment Year and XML file previously saved in Step 2 (using browse button).