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Filing ITR helps in ensuring compliance with the Income Tax Act and entities one to report their income accurately, avail tax benefits, and fulfill their tax obligations. Failure to file ITR or filing incorrect information may result in penalties or legal repercussions.
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INDIVIDUAL/HUF
₹ 500 PLUS TAXES(18%)
SALARY
OTHER SOURCES (LIKE BANK INT., FD INT. DIVIDEND)
INDIVIDUAL/HUF
₹ 1000 PLUS TAXES(18%)
SALARY
HOUSE PROPERTY
OTHER SOURCES (LIKE BANK INT., FD INT. DIVIDEND)
INDIVIDUAL/HUF
₹ 2000 PLUS TAXES(18%)
SALARY
OTHER SOURCES (LIKE BANK INT., FD INT. DIVIDEND)
HOUSE PROPERTY
BUSINESS INCOME
CAPITAL GAIN
COMPANY/PARTNERSHIP FIRM/TRUS/AOP/BOI
₹ 3500 PLUS TAXES (18%)
BUSINESS INCOME
HOUSE PROPERTY
CAPITAL GAIN
OTHER SOURCES (LIKE BANK INT., FD INT. DIVIDEND)
HOUSE PROPERTY
Form | |||||
---|---|---|---|---|---|
ITR-1 | Salaried individuals | July 31, 2023 | |||
ITR-2 | Other than business income | July 31, 2023 | |||
ITR-3 | Income from a business or profession | September 30, 2023 | |||
ITR-4 | Presumptive taxation scheme. | July 31, 2023 | |||
ITR-5 | (LLPs) (AOPs), and partnership firms. | September 30, 2023 | |||
ITR-6 | Companies | October 31, 2023 | |||
ITR-7 | Exemption claiming trust or AOP’s. | September 30, 2023. |