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The presumptive scheme of taxation under the Income-tax Act has been beneficial to a lot of taxpayers who have limited income from business or profession. Under the presumptive taxation scheme, taxpayers declare their income as a percentage of turnover when the books of accounts are not maintained. The income tax return filing process is also … Read moreITR-4
Income Tax Return (ITR) is a return form in which a taxpayer reports his gross taxable income, tax deductions and declare his tax liability to the income tax authority. We will cover all the aspects regarding Income Tax filing in this article. Table Content What is Income Tax Return? Who is required to file ITR? … Read moreIncome Tax Return (ITR) Filing
Many taxpayers find the income tax return filing procedure to be tedious and time taking. Moreover, late filing of Income Tax Return attracts fines and penalties. So to avoid these consequences let us see if you are required to furnish Income Tax Return in India for Financial Year 2018-2019 or not. 1. Mandatory Filing … Read moreIncome Tax Return Filing – F.Y. 2018-2019 (A.Y. 2019-2020)