Income Tax Return: You can take various routes to file your Income Tax Return (ITR). These include filing your ITR on your own through the e-filing website of the Income Tax Department, using the services of a chartered accountant or using online third-party websites.
Income Tax Return Filing: Filling income tax return is very important. Those people whose income is more than the taxable limit, they have to file ITR. At the same time, the ITR portal has been made so simple by the government that people can easily file income tax returns themselves. On the other hand, if your income is only from salary, then income tax return can be filed even more easily. However, if your income is from salary and you want to file income tax return yourself, then you have to take care of one important thing.
Income tax return
There are various routes you can take to file your Income Tax Return (ITR). These include filing your ITR on your own through the e-filing website of the Income Tax Department, using the services of a chartered accountant or using online third-party websites. However, if you want to file your income tax return yourself, then you have to be careful in selecting your ITR form.
Income Tax:
Filing your ITR using the Income Tax Department’s portal is free, whereas you will be charged for contacting a CA or using the online income tax filing website. In such a situation, while filing income tax return, keep in mind that through which means your income is being received.
Wrong ITR form
If your income is coming only from salary, then you have to choose the right form while filing ITR. Taxpayers should note that there are seven ITR forms depending on the income and type of taxpayer. If you select the wrong form, your return may not be processed. If the Income Tax Department finds wrong form selection, you are likely to get a notice.
ITR 1
Individuals resident in India with total income up to Rs 50 lakh are eligible for ITR Form 1. ITR-1 can be filed by any person who earns money from job, house or other outlet. An NRI is unable to file ITR-1. ITR can be filed by using Form 16 through salaried taxpayers.
