{"id":7425,"date":"2021-04-03T14:27:49","date_gmt":"2021-04-03T08:57:49","guid":{"rendered":"https:\/\/www.writeoffline.com\/?page_id=7425"},"modified":"2021-04-15T03:26:04","modified_gmt":"2021-04-14T21:56:04","slug":"income-tax-return-filing","status":"publish","type":"page","link":"https:\/\/www.tigercubs.co.in\/?page_id=7425","title":{"rendered":"Income Tax Return filing"},"content":{"rendered":"\t\t
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Income Tax return allows taxpayer to calculate their annual income, tax liability, schedule tax payments, or request refunds for the over-payment of taxes. This procedure of filing income tax return is referred to as income tax filing. It is required to file under section 139 of Income Tax Act.<\/p>

ITR acts as a proof of your declaration to the government regarding Income earned by you during the previous year and forms part of your financial directory. ITR filing ensures your credit worthiness in case you wish to apply for loans & credit cards.<\/p>

In case you have taxes deducted over & above your tax liability, you will need to file your ITR to claim back the refund. Sooner the ITR is filed, sooner your refund is processed. ITR for the last 2 to 3 years also forms a necessary document for visa application for most of the countries.<\/p>

Filing ITR in time ensures you avoid paying additional interest & a late fee upto Rs 10,000.<\/p>

Form No.<\/strong><\/p><\/td>

Particulars<\/strong><\/p><\/td>

Due date of filing return<\/strong><\/p><\/td><\/tr>

ITR-1 Sahaj<\/p><\/td>

For individuals being a resident (other than not\u00a0ordinarily\u00a0resident) having total income upto Rs.50 lakh, having Income from Salaries, one house property, other sources (Interest etc.), and agricultural income upto Rs.5 thousand<\/p><\/td>

31st<\/sup> July of Assessment Year<\/p><\/td><\/tr>

ITR-2<\/p><\/td>

For Individuals and HUFs not having income from\u00a0profits and\u00a0gains of business or profession.<\/p><\/td>

31st<\/sup> July of Assessment Year<\/p><\/td><\/tr>

ITR-3<\/p><\/td>

For individuals and HUFs having income from\u00a0profits and\u00a0gains of business or profession<\/p><\/td>

In case of Non- audit-31st<\/sup> July of Assessment Year.<\/p>

In case of Audit- 31st<\/sup> October of Assessment Year.<\/p><\/td><\/tr>

ITR-4<\/p><\/td>

For Individuals, HUFs and Firms (other than LLP) being a\u00a0resident having total income upto Rs.50 lakh and having income from business and profession which is computed under sections 44AD, 44ADA or 44AE<\/p><\/td>

31st<\/sup> July of Assessment Year<\/p><\/td><\/tr>

ITR-5<\/p><\/td>

For persons other than- (i) individual, (ii) HUF, (iii) company and (iv) person filing Form ITR-7<\/p>

\u00a0<\/p><\/td>

In case of Non- audit-31st<\/sup> July of Assessment Year.<\/p>

In case of Audit- 31st<\/sup> October of Assessment Year.<\/p><\/td><\/tr>

ITR-6<\/p><\/td>

For Companies other than companies claiming\u00a0exemption under\u00a0section 11<\/p><\/td>

31st<\/sup> October of Assessment Year<\/p><\/td><\/tr>

ITR-7<\/p><\/td>

For persons including companies required to\u00a0furnish return\u00a0under sections 139(4A) or 139(4B) or 139(4C) or 139(4D) only<\/p>

\u00a0<\/p><\/td>

In case of Non-Audit- 31st<\/sup> July of Assessment Year.<\/p>

In case of Audit- 31st<\/sup> October of Assessment Year<\/p><\/td><\/tr><\/tbody><\/table>\t\t\n\t\t<\/div>\n\t<\/div>\n<\/div>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t <\/div>\n <\/div>\n <\/div>\n <\/section>\n

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Income Tax return allows taxpayer to calculate their annual income, tax liability, schedule tax payments, or request refunds for the over-payment of taxes. This procedure of filing income tax return is referred to as income tax filing. It is required to file under section 139 of Income Tax Act. ITR acts as a proof of […]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"class_list":["post-7425","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/www.tigercubs.co.in\/index.php?rest_route=\/wp\/v2\/pages\/7425","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.tigercubs.co.in\/index.php?rest_route=\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/www.tigercubs.co.in\/index.php?rest_route=\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/www.tigercubs.co.in\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.tigercubs.co.in\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=7425"}],"version-history":[{"count":10,"href":"https:\/\/www.tigercubs.co.in\/index.php?rest_route=\/wp\/v2\/pages\/7425\/revisions"}],"predecessor-version":[{"id":8029,"href":"https:\/\/www.tigercubs.co.in\/index.php?rest_route=\/wp\/v2\/pages\/7425\/revisions\/8029"}],"wp:attachment":[{"href":"https:\/\/www.tigercubs.co.in\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=7425"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}