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File Income Tax Return Delhi

ITR shows gross taxable income for the fiscal year. Taxpayers disclose income, deductions, exemptions, and taxes on the form. Therefore, it determines your fiscal year net income tax liability. Income Tax has issued 7 ITR kinds. Income and taxpayer type determine the applicability of ITR-1, ITR-2, ITR-3, ITR-4, ITR-5, ITR-6, and Forms. Confused about filing the appropriate form? No worries! One-click gets our tax specialists on your side!

Income Tax Return (ITR) is a form that an assessee/man or woman has to submit to the Income Tax Department of India. It contains information about the income of the person and the taxes payable on it at any stage of the year. The information filed in ITR should pertain to the selected financial year, i.e. Starting on 1st April and ending on 31st March in the next 12 months. CA Near By Me is one of the leading and most trusted online CA services for businesses that provide you with the facility of online income tax returns in Delhi at very nominal charges in Delhi India. For more details talk to our professional on 7011665073

There are several heads under which profits can be taxed:

  • salary income
  • Income from various sources which include dividends, interest, lottery winnings and many more
  • Income from house property
  • Income from capital gains
  • Profit and gains from business and profession

The Income Tax Department has issued 7 types of ITR documents. The applicability of ITR-1 / ITR-2 / ITR-3 / ITR-4 / ITR-5 / ITR-6 / ITR-7 and Forms depends on the nature and amount of income and the type of taxpayer. The applicability of ITR forms is as follows:

ITR-1: Total income during the relevant financial year does not exceed Rs.50 lakh.

  • The income is from income, one house property, family pension benefits, agricultural income (up to ₹5000/-) and other sources, which include:
  • Interest from savings accounts.
  • Interest from Deposits (Bank/Post Office/Cooperative Society)
  • Interest from income tax refund
  • Accrued interest on enhanced compensation
  • any different interest income
  • family pension

The income of the spouse (except income covered under the Portuguese Civil Code) or of the minor is added (only if the source of profit is within the limits specified above).

ITR-1 cannot be used by a person who:

  • is a director in an organization
  • Have held undisclosed possession in any equity share at any point within the previous year.
  • Whether any asset (along with financial interest in any entity) is located outside India?
  • Has signing authority on any account located outside India.
  • Income from any source outside India.
  • Is there anyone in whose case tax has been deducted from America194N?
  • Refers to a character for whom the payment or tax deduction related to ESOP has been postponed.
  • Who has carried forward the loss or losses to be carried forward under any head of income?
  • This return is applicable for Individuals and Hindu Undivided Families (HUFs) who do not have income under the head ‘Profits and gains of business or profession’ and who are not eligible to report ITR-1.

  • This return is relevant to individuals and Hindu Undivided Families (HUFs) whose income is under the head profits and gains of business or profession and who are not eligible to record ITR-1,2& 4.

  • This return is relevant to individuals and Hindu Undivided Family (HUF), who are not ordinarily residents or are residents of an organization (other than LLP), have a total income of up to Rs 50 lakh and have income from enterprise or career which The calculation is made on the presumptive basis (usa44AD/44ADA/44AE) and on income from any of the following sources:

    • Salary/Pension.
    • property of a house.
    • Other sources (interest, family pension, dividend).
    • Agricultural income up to Rs.5,000
  • All companies, AOPs, LLPs, cooperative societies, BOIs, Nearest Government and artificial judicial men and women other than taxpayers filing returns under sections 139(4A), 139(4B), 139(4C), or 139(4D). ITR five forms should be submitted for income tax return.

  • ITR 6 form is an income tax form to be used by organizations other than corporations that declare exemption under section XI.

  • Return under section 139(4A) is required to be filed by any person deriving income from property held under trust or other legal duty wholly for charitable or spiritual purposes or partly for such purposes.

    At CA Near By Me, we help you with TDS Returns Filing Services Delhi and provide advice for Tax Deducted at Source.

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