Income Tax Return Registration
Income Tax Return Registration

Income Tax Return Filing in Agra

For each penny that you earn, the central government of India levies a tax on that income. On your total income, there is a specific tax levied and you need to pay the required sum. In order to save yourself from giving the taxes, you can file for income tax returns. With the services of income tax return filing in Agra by Legal Bajar, you can be sure to get complete returns for all the expenses and savings against taxes. We help you fill the income tax returns before the due date to make sure you are exempt from the taxes and can provide complete proof of your income and expenses.

Income-tax is a tax levied and collected by the Central Government on an income of a person. Income-tax is calculated at specified rates on total income of a person and paid directly to the Central Government. The provisions relating to the income-tax are governed by the Income-tax Act, 1961.

Income Tax Return is the form in which an assessee files information about his Income and tax thereon to the Income Tax Department. The Income Tax Act, 1961, and the Income Tax Rules, 1962, obligates citizens to file returns with the Income Tax Department at the end of every financial year. These returns should be filed before the specified due date. Every Income Tax Return Form is applicable to a certain section of the Assessees. It is imperative to know which particular form is appropriate in each case. Income Tax Return Forms vary depending on the criteria of the source of income of the Assessee and the category of the Assessee.

Due dates of filing income tax return for FY 2017-18(AY 2018-19) are as under :

1. 31 July 2018 for Individuals not requiring audit under any law.

2. 30 September 2018 for Companies or a working partner of a firm or Individuals requiring audit under any law.

3. 30 November 2018 for any person (corporate/ non-corporate) who is required to furnish a report in Form No. 3CEB u/s 92E.

ITR-1

This income tax return form is also called a Sahaj form. The ITR-1 form is to be filed solely by an individual taxpayer. Any other assessee liable to pay tax will not be eligible to avail of this form for the purpose of filing their returns. This form is applicable for the following:

 Individuals who earn income through salary or through means such as a pension.

 Individuals who earn income from a single housing property.

 Individuals who have no income from any other business or who have no income from the sale of any assets ie: capital gains.

 Individuals who do not own any assets or property in countries other than India.

 Individuals who do not earn income from any country outside India.

 Individuals whose income from agriculture is below Rs 5,000.

 Individuals who earn income from various investments or sources such as Fixed Deposits, Investments, Shares etc.

 Individuals who have not earned income from any windfall such as lotteries or horse racing.

 Individuals who wish to club the income of their spouse or underage child with their own income, so long as the income to be clubbed is in accordance with the criteria mentioned above.

ITR-2

The ITR-2 Form is generally used by individuals who have accrued income through the sale of assets or property as well as individuals who earn income from countries outside India. Individuals or Hindu Undivided Families (HUF) can avail of this form to file their returns. This form is applicable for the following:

 Individuals who earn income through salary or through means such as a pension.

 Individuals whose total income exceeds Rs. 50 lakhs.

 Individuals who earn dividend income exceeding Rs. 10 lakhs taxable under Section 115BBDA.

 Unexplained credit or unexplained investment taxable at 60% under Sections 68, 69, 69A, etc.

 Individuals who earn income through the sale of assets or property in India ie: capital gains.

 Individuals who earn income from more than one housing property.

 Individuals who do not earn income from any business venture.

 Individuals who own assets in countries outside of India.

 Individuals who earn income from countries outside of India.

 Individuals whose income from agriculture is above Rs 5,000.

 Individuals who earned income from any windfall such as lotteries or horse racing.


ITR-3

The ITR-3 Form is to be used by a taxpayer who is either an individual or a Hindu Undivided Family (HUF) who solely operate as a partner in a firm but who do not conduct any business under the firm or who do not earn any income from the business conducted by the firm. This form can be filed by those taxpayers whose taxable income earned from business is only in the form of the following received as a partner:

 Salary

 Total income exceeding Rs. 50 lakhs

 Dividend income exceeding Rs. 10 lakhs taxable under Section 115BBDA.

 Unexplained credit or unexplained investment taxable at 60% under Sections 68, 69, 69A, etc.

 Commission

 Bonus

 Interest

 Remuneration


ITR-4

The ITR-4 form is to be used by those individuals who conduct a business or who earn income through a profession. This form is applicable to any type of business, undertaking or profession, with no limit on the income earned. Along with the income earned from business, taxpayers can also club any income they receive from windfalls, speculation, salaries, lotteries, housing properties etc with their business income. Any individual ranging from shopkeepers, doctors, designers, agents, retailers, contractors etc is eligible to file their income tax returns using this form.


ITR-5

The ITR-5 form is to be used by only by the following entities for filing income tax returns.

 Firms

 Limited Liability Partnerships (LLPs)

 The body of Individuals (BOI’s)

 Association of Persons (AOPs)

 Co-operative Societies

 Artificial Judicial Persons

 Local Authorities


ITR-6

The ITR-6 form is to be used only by companies except for those companies or organisations that claim tax exemption as per Section 11. Those organisations that claim tax exemptions as per Section 11 are organisations wherein the income received is accumulated from the property used for the purpose of religion or charity. This particular income tax return form can only be filed online.


ITR-7

 Section 139(4A) – Under this section, returns can be filed by those individuals who receive income from any property that is held for the purpose of charity or religion in the form of a trust or legal obligation.

 Section 139(4B) – Under this section, returns are to be filed by political parties provided their total income earned is above the non-taxable limit.

 Section 139(4C) – Under this section, returns are to filed by the following entities:

    i. Any institution or association mentioned under Section 10(23A).
    ii. Any association involved with scientific research.
    iii. Any institution mentioned in Section 10(23B).
    iv. Any news agency.
    v. Any fund, medical institution or educational institution.

 Section 139(4D) – Under this section, returns are to be filed by entities such as colleges, universities or any other such institution wherein income returns or loss is not required to be provided in accordance with other provisions outlined in this section.

 Section 139(4E) and Section 139(4F) – Returns are to filed by Business Trusts and Investment Funds.

Income Tax Slab for Individual who are below 60 years :

INCOME TAX SLAB

INCOME TAX SLAB

Up to Rs. 2.5 lakh

Nil

From Rs. 2,50,001 to Rs. 5,00,000

5 % of the total income that is more than Rs. 2.5 lakh + 4% cess

From Rs. 5,00,001 to Rs. 10,00,000

20 % of the total income that is more than Rs. 5 lakh +Rs. 12,500 + 4% cess

Income a above Rs. 10 lakh

30 % of the total income that is more than Rs. 10 lakh +Rs. 1,12,500 + 4% cess

How to Apply for TAN?

A TAN application can easily be made by depositing a duly filled form 49B at any of the TIN Facilitation centers. One can simply locate the nearest TIN facilitation center to their location, having the biometric-based facility.

New PAN Card OR Change/Correction in PAN data

The application form is useful for applicants who are PAN holders and either require a new PAN card or a change/update in their personal details such as, name, date of birth or address and contact information in the IT Department records. 

New PAN Card OR Change/Correction in PAN data

The application form is useful for applicants who are PAN holders and either require a new PAN card or a change/update in their personal details such as, name, date of birth or address and contact information in the IT Department records. 

To Upload ITR Filling steps:

1. Download the ITR preparation software for the relevant assessment year to your PC / Laptop from the “Downloads” page.

2.  Prepare the Return using the downloaded Software.

3.  website with User ID, Password, Date of Birth /Date of Incorporation and enter the Captcha code.

4.  Go to e-File and click on “Upload Return”.

5.  Select the appropriate ITR, Assessment Year and XML file previously saved in Step 2 (using browse button).

6.  Upload Digital Signature Certificate (DSC), if applicable.

7.  Click on “Submit” button.

8.  On successful submission, ITR-V would be displayed (if DSC is not used). Click on the link and download the ITR-V. ITR-V will also be sent to the registered email. If ITR is uploaded with DSC, the Return Filing process is complete.

Pay Tax Online​​

  1. To pay taxes online, login to http://www.legalbajar.com > Services > e-payment : Pay Taxes Online or click here on the tab “e-pay taxes” provided on the said website. Provide proper link of e-payment
  2. Select the relevant challan i.e. ITNS 280, ITNS 281, ITNS 282, ITNS 283, ITNS 284 or Form 26 QB demand payment (only for TDS on sale of property) as applicable.
  3. Enter PAN / TAN (as applicable) and other mandatory challan details like accounting head under which payment is made, address of the tax payer and the bank through which payment is to be made etc.
  4. On submission of data entered, a confirmation screen will be displayed. If PAN / TAN is valid as per the ITD PAN / TAN master, then the full name of the taxpayer as per the master will be displayed on the confirmation screen.
  5. On confirmation of the data so entered, the taxpayer will be directed to the net-banking site of the bank.
  6. The taxpayer has to login to the net-banking site with the user id / password provided by the bank for net-banking purpose and enter payment details at the bank site.
  7. On successful payment a challan counterfoil will be displayed containing CIN, payment details and bank name through which e-payment has been made. This counterfoil is proof of payment being made.