Easiest way of Efiling and Saving Income Tax in India

Easiest way of Efiling and Saving Income Tax in India http://taxmitr.net Comprise taxation on income earned in a financial year a part of which is taxable as per rates prescribed for that year. With the financial year running from 1 April …

What is ITR?

First, let us understand what filing ITR means. When you file your Income Tax Return, it is a proof that you have an income for which you have paid tax. According to the Income Tax Act, 1961, you have to …

Who should file ITR?

Any individual who has income should file Income Tax Return. Currently, if you are below the age of 60 and have an income up to Rs.2.50 lacs, you are exempt from tax. Any income above Rs.2.50 lacs is taxable. And you have …

Filing of Income Tax Return

Every individual having income exceeding rupees 5 lacs is obliged to file his ITR electronically. Likewise any ITR where any refund is claimed is to be filed electronically. However ITR having taxable income less than rupees 5 lacs may also …