indian income tax computation software free download

On Income Tax Return Page, select your ITR Form Number and file your income tax return online. Login to the Income Tax e-Filing portal, using PAN and login details. Here are the steps involved in online mode: There are two different ways to file the Income Tax Returns for the FY 2020-21: Ways in Which a User Can File Income Tax Returns However, the new Income Tax Portal is very easy and convenient to use.Ĭurrently, there are different to file your income tax returns on the new Income Tax Portal. For taxpayers, the major concern is income tax return filing on the new Income Tax Portal. As we know, the government has introduced a new portal for income tax return filing. The due date for filing your income tax returns is 30th December 2021. Senior Citizens aged 75 years and above with only pension income and interest income are not required to file return of income. In case of resident senior citizens (aged between 60 to 80 years), this limit is Rs.3 lakh and Rs.5 lakh for super senior citizens (aged above 80) resident in India.ģ. For individuals below 60 years of age with gross total income of less than Rs 2.5 lakhs (before claiming any deductions), do not require filling an ITR.Ģ. Filing your ITR post the due date may attract a penalty and also become a deterrent in getting a loan or visa approved in the future.įiling Income Tax Return is a compulsory or everyone, with a few exceptions:ġ. Income Tax rules dictate that if you earn more than the limit that is exempted from being taxed by the Government, you are compulsorily required to file your tax return according to the tax slabs for each year. Is Filing ITR Compulsory for all Indians? If you have paid tax in excess during a year, the money is refunded back to you by the Income tax Department. Each taxpayer has to pay tax on the basis of the yearly income. This includes income from salary, profit in business, sale of house or property, dividend or capital gains and interest received among others. Income Tax Return simply involves a form which you utilize to enter information of your yearly earning and other details and submit to the department.

Indian income tax computation software free download