E-filing For Income Below Rs. 5 Lakh

Discussion in 'Tax' started by Tarun, Aug 22, 2015.

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  1. Tarun

    Tarun Member

    Whether e-Filing is mandatory for A/Y 2015-16, where salary income is within Rs. 5 lakh ?
     
  2. sourishjal

    sourishjal Staff Member

    Yes, it is mandatory if you have any Refund claim in your ITR then you have to file your taxes online (e-file). I suggest you to follow the webpages:
    1. Income Tax Returns Filing for FY 2014-2015 : Tax Slabs & new ITR Forms
    2. MANDATORY E FILING OF INCOME TAX RETURN WITH or WITHOUT DIGITAL SIGNATURE AY 2015-16 | SIMPLE TAX INDIA.

    Also, please follow the posts in the following threads by @gpgarain in the following links for the clarification:
    1. E-Verification of Income Tax Return - User Manual
    2. Due Date of Filing Income Tax Return for AY 2015-16 is extended up to 31st Aug.,2015
    3. Income tax query
    4. TDS-Tax Deduction at Source.
     
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  3. Tarun

    Tarun Member

    Pl. guide regarding some points of E-filing data entry page.
    1) A7. What will be the Income Tax Ward/Circle of Birbhum District?
    2) A19. Employer Category of Pry. Teacher - Gov. / Others ? (where pry. teachers are ADHA SHARKARI )
    3) A23. Whether Person Governed by Portuguese Civil Code under Sec 5A - Yes / No. What should I select? Pl. explain.
    4) B1. Income from salary - ( Gross Pay - Tax on employment ) ? Pl. explain.

    Waiting for advice.
     
  4. gpgarain

    gpgarain Following You. Staff Member

    1. Go to Income Tax Jurisdiction and find your ward/circle by entering your PAN No.
    2. Employee Category : Others
    3. A23 (Portuguese Civil Code): No
    4. Income from Salary= Gross Pay - P.Tax

    Hope this will help you. Thanks.
     
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  5. Tarun

    Tarun Member

    It is really helpful.
    Taking time for some another points (TDS) regarding E-filing. Thanking you,
     
  6. gpgarain

    gpgarain Following You. Staff Member

    If your accounts are not liable to audit and your income exceeds the taxable limit (Rs.2,50,000/-), then you must file Income Tax Return/ e-return by 31-08-2015.
    But I would suggest those whose income does not exceeds the taxable limit also to file income tax return, for e-filing your return has many positive sides and no negative ones.
     
  7. Tarun

    Tarun Member

    Pls. clarify Tax Details page of ITR 1 (E-filing) -
    1. Income under salary.
    2. Tax deducted.
    It will be helpful for new one if you explain these points with real example.
    Waiting ...
     
  8. gpgarain

    gpgarain Following You. Staff Member

    1. Income form Salary : Your Gross Pay (BP+DA+MA+HRA+Bonus, if any+Arrear, if any) of 12 months - Total P.Tax for 12 months - exempt u/s 10 (HRA Exempt etc., if any)
    2. Tax Deducted at Source (TDS) : Toatl Tax deducted by your DDO (from Salary) in that financial Year
     
  9. Tarun

    Tarun Member

    You are a good teacher for bad student.
    Thanks.
     
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  10. gpgarain

    gpgarain Following You. Staff Member

    @Tarun I really appreciate your comments above. But I suggest all here to "Like" the post which he/she finds helpful instead of saying "Thanks".
     
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  11. pls,clarify,in which head HBL INTEREST in ITR-I( e-fillling)calculate or deducted,as HBL principal come under 80 C
     
  12. gpgarain

    gpgarain Following You. Staff Member

    @Arunavaaa nandy There is no head to show your HBL Interest Amount in ITR-I for efiling. The Gross Total Income is calculated after deducting the PTax (u/s 10) and HBL Interest (u/s 24b). See the Format of Form 16 to understand it clearly.
     

    Attached Files:

  13. that means in ITR -1 Form ,
    Income from Salary / Pension =Gross Salary---(P.Tax+HBL interest)
     
  14. mihiracharya

    mihiracharya Staff Member

    Yes. Follow this ......
    Gross salary _ PT _ HBL interest (if any) _ HRA exempted( if any) _ Mediclaim (if any) = INCOME, _ Savings including GPF,PPF,LIC,HBL Principle, Tution fees of children etc (up to Rs. 150,000/-) _ 250000/- (SD) = Taxable income.
    First up to 250000/-@10%, Second 500000/- @20%, Rest 30% ( we can not get much salary so that we have to pay /calculate second and third phase). Now _2000/- as rebate for 15-16 FY. Now calculate 3% Cess of the balance. that is your payable tax.