A form that is used to declare the net tax liability, claiming of tax deductions, and to report the gross taxable income is called Income Tax Returns. It is mandatory for individuals who earn a certain amount of money to file ITR. Firms or companies, Hindu Undivided Families (HUFs), and self-employed or salaried individuals must file ITR to the Income Tax Department. Income tax filing can be defined as the procedure by which ITR is filed. The process by which taxpayers file their returns online is called efiling or ITR filing.
Income Tax e-filing checklist for Salaried Employees
Return filing mainly depends on the type of business structure for example:
Senior citizens will be charged for pension along with the following income tax rates:
Super-senior citizens aged 80 and above will be levied the following income tax rates on pension:
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