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Income tax return is the form in which assesses file information about his/her income and tax thereon to Income Tax Department. Various forms are ITR 1, ITR 2, ITR 3 , ITR 4, ITR 5, ITR 6 and ITR 7. When you file a belated return, you are not allowed to carry forward certain losses.
Pre-filled ITR: As part of efforts to popularise the electronic mode of filing Income Tax Returns (ITRs), the CBDT is planning to provide “pre-filled” return forms to filers which will have an automatic upload of data on income and other vitals of a taxpayer.
Form 10BA is a declaration form that is used by a certain section of assessees while filing income tax returns in India. The form is a declaration by the assessee. The format is specified by the Income Tax Department of India. Form 10BA applies to a certain section of assessees who are required to claim deductions under section 80GG.
Direct tax in the form of an income tax was introduced by the British in India in 1860 to overcome the difficulties created by the Indian Rebellion of 1857. [5] The organizational history of the Income-tax Department, however, starts in the year 1922, when the Income-tax Act, 1922 gave, for the first time, a specific nomenclature to various Income-tax authorities.
Direct tax in the form of an income tax was introduced by Sir James Wilson in India in 1860 to overcome the difficulties created by the Indian Rebellion of 1857. [12] The organisational history of the Income-tax Department, however, starts in the year 1922, when the Income-tax Act [4], 1922 gave, for the first time, a specific nomenclature to various Income-tax authorities.
The SUGAM ITR-4S Form is a Presumptive Income Tax Return Form and is part of the Income Tax Returns Filing process with the Income Tax Department of India. The Form is required to be filled out and submitted by those who are eligible to use it under the Income Tax Act, 1961, and the Income Tax Rules, 1962.
The Ministry of Revenue is a ministry of the Government of Maharashtra. It is responsible for preparing annual plans for the development of Maharashtra state. [1] [2] The Ministry is headed by a Cabinet level by Radhakrishna Vikhe Patil Current Minister of Revenue.
There are four types of income-tax returns: Normal return (§139(1)) – Individuals with an income above ₹ 250,000 (under age 60), ₹ 300,000 (age 60 years to 79 years), or ₹ 500,000 (over 80) must file a return. Due dates vary. A belated return, under §139(4), may be filed before the end of the assessment year.