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Our representative will get in touch with you shortly. Iyytr Saving Plan. Aggressive Growth. Child's Future. Learn about which Income Tax Return to file? Updated on: Jul 21, - PM. CBDT has issued a circular on 20th May extending the timelines for iyytr direct tax compliances for AY ITR Filing: i. The due date for filing ITR by taxpayers not covered under audit is extended from 31st July 21 to 30th Sep 21, for Tax audit cases it is extended to 30th Nov and for transfer Pricing cases, the due date is extended to 31st December.

Furnishing Audit Report: i. The due date to furnish the audit report is extended to 31st Octthe audit report for transfer pricing cases is extended to 30th Nov Union Budget Update: Exemption from ITR filing to senior citizens aged 75 years and above, earning only pension and interest income. Income Tax Return ITR is a form in which the taxpayers file information about his income earned and tax applicable to the income tax department.

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The department has notified 7 various forms i. Every taxpayer should file his ITR on or before the specified due date.

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The applicability of ITR forms varies depending on the sources of income of the taxpayer, the amount of the income earned and the category the taxpayer like individuals, HUF, company, etc. It is mandatory to file income tax returns ITR in India if any iyytr the conditions mentioned below are applicable to you: 1. If your gross annual income is more than the basic exemption limit as specified below.

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Also, you are mandatorily required to file ITR even if your income is below the basic exemption limit but you meet one of the following conditions:. The following infographic will help you find out which type of income tax return is applicable to you for FY as well as year FY Still, you have any doubts about ITR-1 in your mind?. Read our comprehensive guide on ITR-1 to get answers to all your questions.

This Return Form should not be used by an individual whose total income for the AY includes Income from Business or Profession. The Current ITR3 Form is to be used by an individual or a Hindu Undivided Family who have income from proprietary business iyytr are carrying on profession. The persons having income from the following sources are eligible to file ITR 3 :.

Please note that any individual earning income from the above-mentioned sources as a freelancer can also opt for a presumptive scheme if their gross receipts are not more than Rs. Presumptive income scheme under sections 44AD, 44AE and 44ADA is when an individual or an entity opts to derive its income on a presumptive basis, i. However, if iyytr business turnover exceeds Rs 2 crore, the taxpayer will have to file ITR For Companies other than companies claiming exemption under section 11 Income from property held for charitable or religious purposesthis return has to be filed electronically only.

For persons including companies required to furnish returns under section 4A iyytr section 4B or section 4C or section 4D or section 4E or section 4F. Thank you for your response.

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Invest Now. Income Tax Raid. How to e-file your Income Tax Return? your Form Tax Saving Investments Made Simple. Start Tax Saving.

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Best Tax Saving Funds - Returns Axis Long Term Equity Fund. Was this article helpful? Have a query? ITR Resources. Terms Privacy Legal.


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Income Tax Return filing: 10 important things individual taxpayers must know before filing ITR