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E-filing For Income Below Rs. 5 Lakh

Home Forums Tax E-filing For Income Below Rs. 5 Lakh

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  • #70201
    unknown
    Spectator

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

      #80970
      unknown
      Spectator

        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.

        #80980
        unknown
        Spectator

          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.

          #80981
          unknown
          Spectator

            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.

            #80982
            unknown
            Spectator

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

              #80996
              unknown
              Spectator

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

                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.

                #81035
                unknown
                Spectator

                  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 …

                  #81036
                  unknown
                  Spectator

                    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

                    #81043
                    unknown
                    Spectator

                      You are a good teacher for bad student.
                      Thanks.

                      #81044
                      unknown
                      Spectator

                        @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”.

                        #81806
                        unknown
                        Spectator

                          pls,clarify,in which head HBL INTEREST in ITR-I( e-fillling)calculate or deducted,as HBL principal come under 80 C

                          #81809
                          unknown
                          Spectator

                            @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.

                            #81812
                            unknown
                            Spectator

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

                              #81815
                              unknown
                              Spectator

                                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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