Discussion in 'Tax' started by Tarun, Aug 22, 2015.
Whether e-Filing is mandatory for A/Y 2015-16, where salary income is within Rs. 5 lakh ?
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.
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.
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.
It is really helpful.
Taking time for some another points (TDS) regarding E-filing. Thanking you,
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.
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.
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
You are a good teacher for bad student.
@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".
pls,clarify,in which head HBL INTEREST in ITR-I( e-fillling)calculate or deducted,as HBL principal come under 80 C
@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.
that means in ITR -1 Form ,
Income from Salary / Pension =Gross Salary---(P.Tax+HBL interest)
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.
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