Income Tax Deduction to save taxes

income tax deductions in India

 

There are many legal income tax deduction options offered by the government of India to save taxes or to reduce the tax burden of taxpayer.

Here are the details of various income tax deductions which every taxpayer should know while filing income tax returns.

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E-filing income tax returns for salary individuals and business

The due date for e-filing income tax returns for salary individuals is 31st July, 2017.

The due date of filing income tax returns for business is 30th Sept,2017.

The government has made various changes in income tax return forms this year which every individual should know while filing income tax returns.

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E-filing Income Tax Return-ITR form 1(Sahaj)

e-filing income tax returns in India

 

There have been several changes in income tax filing rules in the past one year which every individual should know before e-filing income tax returns.

Individuals having PAN have to link it to their Aadhaar number from July to complete the process of filing income tax returns.

The last date of filing income tax returns is 31st July. Take advantage of this time to file your income tax returns as soon as possible.

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Income tax rules and changes to know while filing ITR-2017

e-filing income tax returns in India

 

The income tax department has made various changes in income tax return filing process this year to make it simpler and less complicated for taxpayers. The due date for filing income tax return is 31st July which is approaching.

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ITR-1 Form details to know while e-filing income tax return

e-filing income tax returns

 

The government has notified a simpler one page for e-filing income tax returns for salaried individuals and made Aadhaar mandatory for filing income tax returns.

This ITR form also known as Sahaj is used by salaried individuals for filing income tax returns which is easy, less complicated and done away with some columns to make it very simple.

The last date of e-filing income tax returns is 31st July,2017.

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8 mistakes to avoid while e-filing your income tax returns

e-filing income tax returns

The last date for e-filing income tax returns notified by the income tax department is 31st July for individuals.

When you file your income tax returns try to avoid the common mistakes which can results in losing refund, paying the penalty and face prosecution. We are discussing 8 common mistakes which should be avoid by taxpayers while e-filing income tax returns.

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ITR forms changes and guide to fill the forms

income tax returns filing online

Income tax returns filing process has been started and last date for filing income tax returns is 31st July.

The government has made Aadhaar number mandatory for filing income tax returns after 1st July. This year government has made important changes in ITR forms which every taxpayer should know to avoid any problems in future.

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Claim benefits on reimbursements while filing income tax return.

e-filing income tax return

 

The due date for filing income tax return is 31st July which is round the corner and it is essential for everyone to file their income tax returns on time to avoid any penalty.Before filing your income tax return do not forget to claim benefits on your reimbursements.

To claim the benefits on reimbursements and deductions, you need to submit the tax proof to your employer.If you fail to do this within a deadline then you won’t be able to claim this benefits and our employer deducts tax which results in an extra deduction of tax from your salary.

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5 Important points for easy e-filing income tax returns:

e-filing income tax returns

 

The due date for filing income tax return is  31st July and people are busy in collecting every details or documents required for filing taxes online.There are huge benefits of filing income tax returns online rather than doing it manually like rectification of errors, quick refund,e-verification, access to the records etc.

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5 reasons to file your income tax returns early

file income tax early

 

Has your employer handed over your form 16 for income earned and tax deducted during 2016-17 for which you need to file your tax returns this fiscal?

In case you have not handed over Form 16 it is time to remind your employer since already a few weeks of the new financial year has elapsed.

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