Electronic Filing of Income Tax Returns for 2015-16 Commences
Listen to this Article
ITR 4S - SUGAM can be Used by an Individual or an HUF Whose Income Includes Business Income Assessable on Presumptive Basis; Taxpayers Requested to E-File Their Returns Early to Avoid the Rush Closer to the Last Date of Filing.
ITR 1-SAHAJ, 2 and 2A can be used by individual or HUF whose income does not include income from business. ITR 4S - SUGAM can be used by an individual or HUF whose income includes business income assessable on presumptive basis. The elaborate details of the persons who can use these forms are available in the instructions for filling the forms.
The facility for pre-filling of information for these return forms is available in the software for preparing the return forms. When the taxpayer exercises this option and just fills in his PAN, then personal information and information on taxes paid and TDS will be auto-filled in the form. Taxpayers are requested to use the return preparation software available free of cost under the ‘Downloads’ section on the home page of the Income Tax Department’s e-filing website-https://incometaxindiaefiling.gov.in. The use of Departmental software will ensure preparation of error-free returns thereby avoiding any need for future rectification due to data validation mistakes.
Taxpayers are requested to e-file their returns early to avoid the rush closer to the last date of filing.
Category : ITR | Comments : 0 | Hits : 928
The Central Board of Direct Taxes (CBDT) has notified Income-tax Return Form 2 and 3 for the Assessment Year 2024-25. Rule 12 has been amended to allow individuals and HUF, who are liable to tax audit under section 44AB, to verify return of income through electronic verification code. The Central Board of Direct Taxes (CBDT) has notified the income tax return (ITR) forms, ITR-2 and ITR-3. Many entities, including individuals, who have certain specific types of income are required to file thei...
A record eight crore 18 lakh Income Tax Returns, ITRs were filed in the current financial year till Sunday. This is nine per cent more than the total ITRs filed in the last fiscal. According to Central Board of Direct Taxes, around 7.5 crore ITRs were filed last year during the same period. Finance Ministry said, to encourage taxpayers to file their ITRs and forms early, over 103 crore outreaches were made through targeted e-mail, SMS and other creative campaigns. The e-filing Helpdesk team h...
Average processing time of Income Tax Returns (ITR) has reduced to ten days in the Assessment Year 2023-24. Average processing time of ITR was 82 days in the Assessment Year 2019-20, and 16 days in Assessment Year 2022-23. Income Tax Department said, it is committed to process the ITR in a speedy and efficient manner to the taxpayers. According to the Department, six crore 98 lakh ITRs for Assessment Year 2023-24 were filed, out of which 6 crore 84 lakh ITRs have been verified. ...
The Income Tax Department has processed refunds of over Rs 2.45 crore for 6.84 crore verified Income tax returns (ITRs), bringing down the average processing time to 10 days for the assessment year 2023-24 “The department’s efforts to provide seamless and expeditious taxpayer services are being continuously strengthened. In line with the same, the average processing time of ITRs (after verification) has been reduced to 10 days for Returns filed for AY 2023-24 compared to 82 days f...
More than four crore income tax returns (ITRs) for the 2022-23 financial year have been filed so far and about 7 per cent of these are new or first-time filers, CBDT chairperson Nitin Gupta said on Monday. He said that more than half of these ITRs have been processed leading to 80 lakh refunds till now. The "shortage of manpower at every level was impeding our efforts to give even better results", Gupta said and urged Union Finance Minister Nirmala Sitharaman for a "quick ap...


Comments