Mujhe Meri personal & family members ki Income Tax Return file karni hai

[arjungoyal12]

Kya mai Income tax return khud file kr sakta hu, agar eska process mujhe koi bata sake?

 

[Kartik Mahajan]

If you are an individual whose turnover in previous years does not exceeds 1 crore in case you are engaged in business or 50 lakhs if your in a profession then the last day of filing the return was 31st july , however if you are covered in any of above scenarios then the due date is 31st October . In case of late filing you have to pay the prescribed late fees of 1000 or 5000 as the case may be and interest under section 234A,B,C may also be levied. However if your income doesnt exceed basic exemption limit or no tax liability arises then no such interest or penalty shall be levied
You have to file different forms depending upon the kinds of income you are earning .
In case you want to file the return yourself do it with much care because any data you provide to government will be considered as right (self assessment) or you can approach any consultant. Dont forget to verify your return using aadhar linked otp or as the case may be.
After that department will send you an intimation of filing of the return in your registered mail .

In case you wish to revise return it can be revised only until 31december 2023.

 

[arjungoyal12]

If you are an individual whose turnover in previous years does not exceeds 1 crore in case you are engaged in business or 50 lakhs if your in a profession then the last day of filing the return was 31st july , however if you are covered in any of above scenarios then the due date is 31st October . In case of late filing you have to pay the prescribed late fees of 1000 or 5000 as the case may be and interest under section 234A,B,C may also be levied. However if your income doesnt exceed basic exemption limit or no tax liability arises then no such interest or penalty shall be levied
You have to file different forms depending upon the kinds of income you are earning .
In case you want to file the return yourself do it with much care because any data you provide to government will be considered as right (self assessment) or you can approach any consultant. Dont forget to verify your return using aadhar linked otp or as the case may be.
After that department will send you an intimation of filing of the return in your registered mail .

In case you wish to revise return it can be revised only until 31december 2023.

Thank you for the information. Helped a lot!

 

[Manoj Kohli]

If you are an individual whose turnover in previous years does not exceeds 1 crore in case you are engaged in business or 50 lakhs if your in a profession then the last day of filing the return was 31st july , however if you are covered in any of above scenarios then the due date is 31st October . In case of late filing you have to pay the prescribed late fees of 1000 or 5000 as the case may be and interest under section 234A,B,C may also be levied. However if your income doesnt exceed basic exemption limit or no tax liability arises then no such interest or penalty shall be levied
You have to file different forms depending upon the kinds of income you are earning .
In case you want to file the return yourself do it with much care because any data you provide to government will be considered as right (self assessment) or you can approach any consultant. Dont forget to verify your return using aadhar linked otp or as the case may be.
After that department will send you an intimation of filing of the return in your registered mail .

In case you wish to revise return it can be revised only until 31december 2023.

I think this is specific for small businesses. The query was for Individual Taxation if i'm not wrong

 

[Kartik Mahajan]

I think this is specific for small businesses. The query was for Individual Taxation if i'm not wron

 

[Kartik Mahajan]

Sir this was a friendly advice if you want to be specific i suggested to approach a CA, and i think i am not wrong as the above applies to the individual taxation the only thing is i told the things to take care in tax filing process, individuals are required to file the return if there income exceeds basic exemption limit.
And how do you think they earn such income ?
There are five heads of income i.e.
income from salary ,
income from business and profession, income from capital gains ,
income from house property and
income from other sources
How to file an income return will depend upon the forms of income earned and the form of business the assessee is engaged in.

Every letter of word written above applies to the individual irrespective of the scale of business they are engaged in . Moreover there are different provisions for different forms of businesses like firms are taxed on flat rate of 30 percent without any basic exemption .

 

[Manoj Kohli]

Sir this was a friendly advice if you want to be specific i suggested to approach a CA, and i think i am not wrong as the above applies to the individual taxation the only thing is i told the things to take care in tax filing process, individuals are required to file the return if there income exceeds basic exemption limit.
And how do you think they earn such income ?
There are five heads of income i.e.
income from salary ,
income from business and profession, income from capital gains ,
income from house property and
income from other sources
How to file an income return will depend upon the forms of income earned and the form of business the assessee is engaged in.

Every letter of word written above applies to the individual irrespective of the scale of business they are engaged in . Moreover there are different provisions for different forms of businesses like firms are taxed on flat rate of 30 percent without any basic exemption .

Thanks for the clarification

 

[rudraksh]

Kya mai Income tax return khud file kr sakta hu, agar eska process mujhe koi bata sake?

I will train you through anydesk. You can record all types of your family transaction and at the end of the year you can ready to prepare the itr filing through online.