The income tax department has determined the taxpayers into different groups based on earning sources. Individuals
whose total income does not exceed 50 lakh per year are in the category of ITR-1, or Sahaj form. To make the process
easier and simpler the department makes the defined categories to provide ease in filing the ITR.
Income tax laws in India are regulated under the Income tax act, 1961 rules. The department of Income tax
categorizes the different types of ITR form applications.
The central government of the Income tax department has an online portal for filing the ITR. For filing the ITR
taxpayer has to report the income for a particular financial year with losses, claiming TDR, tax deduction, etc.
1. Help in Visa Processing
When you apply for a visa, the foreign embassy would require proof of income. The ITR helps you in that
process and helps you in getting the visa.
2. Refund of claim TDS
The employee receives the income after the reduction of TDS. Any person who filed ITR can claim the TDR.
TDR is nothing but a tax liability that is lower than the actual TDR.
3. Claim for tax deductions and refund
If the person or taxpayer files the ITR under the Income tax act every year is eligible for a refund and can also
claim fax reduction in selected criteria under the Income tax act.
4. Easy to get loans and credit cards
Filing the ITR helps you in getting loans and credit cards easily because you have the evidence for your
Title of the invention
Form-16
Salary Slips
Interest certificates from Post Offices & Banks
Form 16A/16B/16C
Form 26AS
Tax-Savings Investment Proofs
Deductions under Section 80D to 80U
Home Loan statement from NBFC/Bank
Capital Gains
Aadhar Card
1. Selection of Package
According to the client’s requirements, we made the packages, so in this step, clients need to select the
appropriate package or take expert team advice and consultation.
2. Documents and Information Collection
We will take the details and documents from you to fill out the ITR and related other forms.
3. Calculation of ITR
We will calculate the total tax based on the previous step and documentation provided by the taxpayer and
also discuss once with the applicant.
4. Submission and Receipt
We will fill out the form on the official website of the Income-tax department online and share the receipt
and acknowledgment with you.
Legal24by7 is here to make everything easy for you. If you have any doubts about how to start with the procedure,
we are here to resolve this confusion for you. We will enlighten you about what are the different criteria you must
fulfill & what is the best possible way you can do everything smoothly. For convenient Income Tax for Salaried
persons, we have a team of highly skilled professionals and a large network of people who can assist you with every
service that you will need.
ITR-XML is a file format type. When a person mentions his income-related details in the XML file, it will enter the details in the online ITR-1 form automatically.
The taxpayer needs to always be ready with the document which is the basis of his return filing. The legal authority anytime can ask it for. Other than that, no such special document needs to be attached to ITR-1.
The person has to pay the late fees based on the date of filing his belated returns. Rs. 5000 will be charged if the person filed the return after the due date but till December. Filing returns after the 31 st of December will charge a penalty of Rs. 10,000.
Small businesses with an income up of to Rs. 5 lacs have to pay Rs. 1000 as a penalty.
Yes, some provisions permit filing ITR after the due date with a late fee and low benefits. The person can file the ITR before the end of the assessment year of a financial year.
Yes, if a salaried person is eligible for filing an ITR under the norms of the income tax act.
The income tax department invites taxpayers to file their income tax online through the online portal of the department. The consultant at legal24by7 will support you in filing your ITR on time.
Yes, absolutely. You are eligible to file the ITR with a house loan.
