It is applicable on all person their income more than exemption limit, here person means Individual, HUF, Partnership Firm, LLP, Private Limited Company , other companies, trust, society, AOP,NRI etc. Every person require to file Income tax return before due date
Return can be files e-file or manually, Letsfiling provide free consultancy on fiiling the income tax return
Every person should file the income tax return before due date , due date of income tax return is 31st July except those entity have turnover more than tax audit limit or companies these type entity file income tax return up to 30th September
ITR 1– Income Tax Form ITR-1 (SAHAJ) is for individuals having income from salaries, one house property and other sources like interest, etc.,
ITR 2– Income Tax Form ITR-2 is for individuals and HUF having income other than business and profession Income
ITR 2A– Income Tax Form ITR-2A is for individuals and HUF having income other than business and profession Income , capital gain and do not hold foreign Assets
ITR 3– Income Tax Form ITR-3 is for individuals and HUF are being partner in firm but not carrying out any business and profession under proprietary concern
ITR 4– Income Tax Form ITR-4 is for individuals and HUF having income business and profession Income
ITR 4S– Income Tax Form ITR-4S is for individuals and HUF having income business and profession Income and those want to show presumptive income
ITR 5– Income Tax Form ITR-5 is for person those are other than individuals , HUF, Company, person filing ITR-7 ITR-5 file firms , LLP, BOIs , AOPs, Co-operative Society, Artificaial Judicial person,Local Authoriety
ITR 6– Income Tax Form ITR-6 form is to be used only by companies except those companies or organisations that claim tax exemption as per Section 11
ITR 7– Income Tax Form ITR 7 is used by persons, political parties, news agencies, universities and entities in receipt of income from property held under trust for charitable or religious purposes.
Those person having income exceed the exemption limit require to pay income tax to tax authority through banks online or manually at the time of fling the income tax return , if income tax more than Rs 10000 in a financial year have to pay as advance tax four time in year otherwise impose interest and penalties levied on advance tax.
|Due Date||For corporate taxpayers||For individual taxpayers|
|On or before 15th June||15% of advance tax||15% of advance tax|
|On or before 15th September||45% of advance tax||45% of advance tax|
|On or before 15th December||75% of advance tax||75% of advance tax|
|On or before 15th March||100% of advance tax||100% of advance tax|
Letsfiling.com help to file your Income Tax Return at time , we require following Documents
After receive the all documents(Documents mail at firstname.lastname@example.org), our representative prepare return and verify and approve by you than our Income Tax expert will file your Income Tax return with the Income Tax department.