23 Common Questions on Salary Income – Answers with Examples

Q.1) What is considered as salary income? section 17​​ of the Income-tax Act defines the term ‘salary’. However, not going into the technical definition, generally whatever is received by an employee from an employer in cash, kind or as a facility [perquisite] is considered as salary. Q.2) What are allowances? Are all allowances taxable?| What … Read more

27 Common Questions on Presumptive Taxation Scheme A.Y.2018-19

Q.1) What is the meaning of presumptive taxation scheme? As per sections 44AA of the Income-tax Act, 1961, a person engaged in business is required to maintain regular books of account under certain circumstances. To give relief to small taxpayers from this tedious work, the Income-tax Act has framed the presumptive taxation scheme under sections … Read more

8 Common Questions for Income Tax on Senior Citizens

Q.1) What are the benefits available to a senior citizen and very senior citizen in respect of tax rates? Senior citizens and a very senior citizen are granted a higher exemption limit as compared to normal tax payers. Exemption limit is the quantum of income up to which a person is not liable to pay … Read more

19 Common Questions on Gifts Received by an Individual or HUF

Q.1) Are monetary gifts received by an individual or Hindu Undivided Family (HUF) taxable? If the following conditions are satisfied then any sum of money received (i.e, monetary gift may be received in cash, cheque, draft, etc.) by an individual/ HUF will be charged to tax (*): Sum of money received without consideration. The aggregate … Read more

10 Most Common Questions on Clubbing of Income

Q.1) What is the meaning of clubbing of income? ​​​​​​Normally, a person is taxed in respect of income earned by him only. However, in certain special cases income of other person is included (i.e. clubbed) in the taxable income of the taxpayer and in such a case he will be liable to pay tax in … Read more

ITR 7 Form | Instructions | Download PDF, e-Filing Utility A.Y.2018-19

Here you will find the complete guidance of ITR-7 form like download PDF, e-filing utilities (Excel & Java), instructions for A.Y. 2018-19. Download ITR 7 – PDF, Excel & Java Utility A.Y.2018-19 Utility Version Date Download Excel PR4 09-08-2018 Download Java PR5 09-08-2018 Download PDF Download Who can use ITR – 7 Form? This Form … Read more

ITR 6 Form | Instructions | Download PDF, e-Filing Utility A.Y.2018-19

Here you will find the complete guidance of ITR-6 form like download PDF, e-filing utilities (Excel & Java), instructions for A.Y. 2018-19. Download ITR 6 (A.Y.2018-19) Utility Version Date Download Instructions Excel PR5 01-09-2018 Download Instructions Java PR6 01-09-2018 Download Instructions Excel PR5 14-08-2018 Download Instructions Java PR5.1 14-08-2018 Download Instructions Recommended Read: 40 Most … Read more

43 Most Important Questions on Filing Income Tax Return A.Y. 2018-19

FAQ on Filing Income Tax Return for A.Y.2018-19 Q.1) What is Income Tax Return? ​ITR stands for Income Tax Return​. It is a prescribed form through which the particulars of income earned by a person in a financial year and taxes paid on such income are communicated to the Income-tax Department. It also allows carry … Read more

View e-Filed Income Tax Return – Link & Steps

To view e-Filed Returns/ Forms, please follow the below steps: Step 1 : Login to e-Filing website with User ID, Password, Date of Birth /Date of Incorporation and Captcha. Visit Here -> https://incometaxindiaefiling.gov.in/e-Filing/UserLogin/LoginHome.html Step 2 : Go to My Account and click on “e-Filed Returns/Forms”. Step 3: All the Returns/Forms e-Filed are displayed. The following details … Read more

How to File Income Tax Return Online for A.Y. 2018-19

Assessee who are required to file income tax return online must e-file their return. Otherwise it is your choice to file income tax return online or offline. In previous article we have given detail guidelines about how to file income tax return online, offline or TRP schemes. You can file income tax return online for … Read more

9 Precautions to be Taken While Filing of ITRs A.Y.2018-19

PRECAUTIONS TO BE TAKEN AT THE TIME OF FILING OF ITR TO ENSURE CORRECT AND TIMELY PROCESSING OF RETURNS Keep monitoring Form 26AS online over TRACES on periodic intervals for  early trapping of the inconsistencies therein, if any due to fault of deductor. Follow the procedural guidelines prescribed by Rule 37BA, wherever necessary. Reconciliation of … Read more

ITR 4 Sugam A.Y.2018-19 | Procedure to File | Download Utility

ITR 4 Sugam is an Income Tax Return form to be filed by Individual/HUF/Partnership Firm who has the following income for A.Y. 2018-19:- Business income where such income is computed under section 44Ad and 44AE Income from profession computer under section 44ADA Salary/Pension Income from one house property (excluding cases where there is brought forward … Read more

ITR 2 Form AY 2018-19 | How to efile ITR -2 | Filing ITR 2 Procedure

which itr form to use

In this article, we will discuss in detail about ITR 2 form i.e. procedure to fill, procedure to file online and answer your all queries related ITR-2 form. You can download ITR-2 form in Excel and Java utility along with instructions. Who can File ITR-2?  If you have the following incomes then you need to … Read more

Due Dates to File Income Tax Return for A.Y.2018-19

The due dates to file income tax return for A.Y.2018-19 year ending 31st March 2018 i.e. A.Y.2018-19/F.Y.2017-18 is given as follow. Due Dates for Income Tax Return for A.Y. 2018-19 Type of Assessee Due Date Company 30-09-2018 Assesee who is required to furnish TP Report in Form No.3CEB 30-11-2018 Assesee whose account are required to … Read more

ITR-5 Form 2018-19 | eFile ITR 5 | Download Utility & PDF

Here you can find the complete detail about ITR-5 for A.Y. 2018-19. You can check here the simple guide about ITR-5 like who can file ITR-5, changes (A.Y.2018-19), download link and more. Confused! Which ITR form to file? Check here Who can use ITR-5 Form? ITR-5 can be filed by the follower persons. Firm LLPs … Read more

ITR 3 Form 2018-19 | How to fill and e-file ITR-3 Form?

ITR-3 is income tax return form application to Individuals and HUFs having income from business and Profession. You will get here complete detail about ITR 3 like how to fill ITR-3 form, how to e-file ITR-3, download link of ITR-3 excel utility, ITR-3 java utility and instructions to file ITR-3 form for A.Y. 2018-19. The … Read more

Which ITR Form to File for A.Y.2018-19?

Which ITR Form to File for A.Y. 2018-19 Calculator Download Ultimate Guide on Which ITR Form to File for A.Y. 2018-19 in PDF Format – Here You come at right place if you have confusion over which ITR form to file, which ITR form to fill and which ITR form to use while filing income … Read more