A Simplified Guide To ITR Filing In India

A Simplified Guide to ITR Filing in India

As per the Income tax rules and laws, every Indian citizen must pay tax on their income to the Indian government. Income Tax laws say that your income is taxed every year, no matter if you are an individual, an association, a company, an LLP, a local government, or a Hindu undivided family. Because of this, it is important to file your Income Tax return (ITR) every year. It's up to you whether you want to file your income tax report online or in person. For all qualified Indian taxpayers, filing ...

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A Simplified Guide to Income Tax Return (ITR) Filing Process in India

As per the Income tax rules and laws, every Indian citizen must pay tax on their income to the Indian government. Income Tax laws say that your income is taxed every year, no matter if you are an individual, an association, a company, an LLP, a local government, or a Hindu undivided family. Because of this, it is important to file your Income Tax return (ITR) every year. It's up to you whether you want to file your income tax report online or in person. What is an Income Tax Return? An person of ...

A man in a suit stands next to a poster featuring a laptop displaying a hand with a coin, and an income tax return document. The text reads, “Easy Guide To Verifying Your Income Tax Return.” The company name, "Kompany Services," is in the bottom left corner.

Easy Guide to Verifying Your Income Tax Return

When you file your income tax return, the Department of Income Tax receives it but does not immediately begin processing or reviewing it. Processing starts only after the return has been confirmed through a procedure known as ITR verification. According to new regulations, the deadline for submitting an ITR online for verification is now thirty days from the date of submission, reduced from the previous one hundred and twenty days. This new regulation applies to returns submitted on or after ...

A man in glasses and a dark suit smiles while holding documents. In the background, an illustration shows a tax form and an envelope. Text above reads, "Income Tax Returns for Salaried Individuals - Simplified Guide." The "Kompany Services" logo is in the lower left.

Simplified Guide to Income Tax Returns for Salaried Individuals

Filing income tax returns is an important financial responsibility for salaried employees. As per the Income Tax Act, 1961, ITR filing is mandatory wherein a taxpayer reports his total income in a financial year and net tax liability and claims tax deductions using an ITR form. The ITR filing process has been simplified by the Income Tax Department through its e-filing portal. In this article, we explain how salaried employees can file their income tax returns online. Who should file ITR? Peop ...

Illustration showing a laptop with an "Income Tax Refund" webpage on its screen, a large question mark, a magnifying glass, a calculator, a pen, and a stack of coins. The text at the top reads "How to Check Income Tax Refund Status?" with the website www.kompanyservices.com.

How to check income tax refund status?

Filing Income Tax Return (ITR) is an annual obligation for taxpayers, and for many, a welcome outcome is the anticipation of an income tax refund. Generally, ITR refunds get credited to the connected account automatically, but sometimes, they get delayed. Amit Gupta, founder and CEO of SAG Infotech, says, “To simplify this process, taxpayers must stay informed about their ITR refund status. Understanding the steps to check the status of your ITR refund can bring clarity and peace of mind d ...

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Explore the Benefits of Filing Your Income Tax Return

Recently, the Government has introduced an 'Annual Information Statement' that summarizes all financial transactions, including bank interest, share market transactions, and real estate transactions, in a single document. This statement captures all transactions that have come to the Government's attention, making it advisable for NRIs who conduct financial transactions in India to file their tax returns annually to prove their 'non-resident' status in India for each tax year. Income Tax Law ...