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Salaried Individual                                                                         

Every Individual having Gross Total Income above Rs 200,000 has to compulsory file Income Tax return.
Exemption for salaried Individual- Income Tax department has exempted the Return filing for salaried person if their net taxable Income does not exceed Rs 500,000 however the exemption is available only in the case where the total Income includes Income only from Salary and saving Bank A/c interest up to Rs 10000.

If Total Income Includes :

    Total Income If Includes                   Return Filing Compulsory
    Business income Yes, (Even if the Total Income does not exceed    
Rs 500,000)
    Capital Gain Yes, (Even if the Total Income does not exceed    
Rs 500,000)
    Interest Other than saving bank
   Interest (i.e.) interest On Fixed
   Deposits, Interest on Bonds etc.
Yes, (Even if the Total Income does not exceed    
Rs 500,000)
    House Property Yes, (Even if the Total Income does not exceed    
Rs 500,000)
    Winning form lottery, Card games Yes, (Even if the Total Income does not exceed    
Rs 500,000)

Due date of filing return of Salaried Individual is 31 July 2014, for the financial
year (2013-14)

   Means of Filing Tax Return
   Paper Form   Optional at the option of the assessee, If Income does not exceed
  Rs 5 Lacs.
   E-Form   Optional at the option of the assessee upto income of Rs 5 Lacs.Madatory
  E-filing if the Income exceed Rs 5 Lacs.
 
   ITR Form Prescribed by the Income Tax Department
   ITR Form 1   Individual/HUF only (Income from Salary, Income from House Property and   income From other Sources)
   ITR Form 2   Individual/HUF only (who cannot file ITR 1 and their total income does not   include any income chargeable to Income Tax under the head “Profit   & Gains   From Business and Profession”
 

SUBMIT REQUEST let we assist you in filing your Income Tax Return.

 
 
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