Income Tax For Salaried Person

Starting From ₹ 999 + Govt Fees

Start my registration

    Brand highlights

    $1 Million

    Raised to provide quality service to startups

    6000+

    Registered Every year

    5%

    Market Share in Trademark Registration

    5000+

    Startups and MSMEs Served

    About Income Tax Return For Salaried Person

    Any person falling under the purview of the Income Tax Act, of 1961 has to pay tax on the income earned in a certain financial year. The categorization of taxpayers has been accomplished to ease compliance. Each category of a taxpayer has to calculate the taxable income in the manner as laid down in the Income Tax Act, of 1961. Post computation, Income Tax Return for salaried person is filed in the Form applicable to that type of taxpayer.

    Advantages of Income Tax Return for Salaried Person

    To get a loan or a credit card

    If You Have Filed Your Income Tax Returns Regularly, It Is Proof That You Have A Regular Income And Have Paid Taxes On It And It Is Simpler To Obtain A Loan Or A Credit Card.

    Claim tax deductions

    To Claim Deductions Under Various Sections Of The Income Tax Act It Is Essential That You Have Filed Your Income Tax Returns Every Year.

    Claim Tax Refund

    Filing Your Returns Is Important If You Want To Be Eligible For A Refund And Want To Claim It.

    Adjust your capital gains and losses

    Capital Losses Can Be Modified Against Capital Gains. Also As A Taxpayer, You Can Guarantee That In Case You Have Any Capital Loss, You Can Take It Forward For The Next Eight Consecutive Financial Years If You File Your Income Tax Returns Regularly.

    Visa processing

    If You Are Applying For A Visa, The Foreign Consulate Would Need Proof Of Your Income, And Income Tax Receipts Are Needed.

    Income Tax For Salaried Person Process Flow

    1-2 HOURS

    Select Package
    Fill out the appropriate forms or speak to our experts online for assistance.

    2 WORKING DAYS

    Obtain Information and Documents
    We will collect the information and needed documents from the taxpayer manually.

    2 WORKING DAYS

    Computation Of Payable Income Tax
    We Will Compute The Payable Tax Based On The Information Given By The Applicant.

    2-3 WORKING DAYS

    Submission And Acknowledgement
    We Will Fill Out The ITR1 Form Online And Will Share Its Acknowledgment.

    2-3 WORKING DAYS

    Check Application Status
    Throughout The Process, We Will Keep You Informed About The Status Of Your Application.

    Documents required for Income Tax For Salaried Person

    Requirements for  Income Tax For Salaried Person

    pricing packages

    Basic Package

    ₹ 999

    Growth Package

    ₹ 2,999

    Premium

    ₹ 5,999

    Comparison

    Document
    Comparison Basis Private limited company Llp Sole proprietor
    Raising Fund
    Start-Up India Recognition
    Complince Cost
    Suited For Growing Startup Service Provider Small Business
    Taxation Benefit

    FAQs

    Yes, as long as agricultural income does not surpass INR 5,000, Form ITR-1 can be filed.

    Yes, Form ITR-1 can be filed if you hold a house loan.

    XML is a type of file format. Income details entered in the XML file get smoothly auto-entered in the online Form ITR-1.

    There is no need of attaching documents with Form ITR-1. However, the taxpayer should always keep the documents on the basis on which he/she fills the return. The tax authorities can ask the taxpayer to submit these documents to them at any time.

    The due dates for filing ITR online are mentioned below – let’s take an e.g. of  (F.Y. 2017 – 18 & A.Y. 2018 – 19)

    • Up to 31st July of next year (31st July 2018) – Individuals, HUF, BOI, and AOP (who do not fall under the audit provisions)
    • Up to 30th September of next year (30th September 2018) – Companies including other entities on which Audit provisions are applicable

    A late filing fee will be charged based on the date of filing a belated return. The late fee for filing relies on the period of filing:

    1. For return filed after the due date but till December – late filing fees of ₹ 5,000 will be set
    2. For return filed after 31st December – late filing fees of  ₹10,000 will be levied

    However, for small taxpayers with an income of up to ₹ 5 Lakh, the fees are limited to ₹ 1,000 only.

    In case you fail to file the return on a due date, there is a provision to file a return up to a certain date, however with a late filing fee and fewer benefits, the belated return can be filed before the end of the Assessment Year for the concerned financial year. That means for F.Y. 2017-18, belated returns can be filed till 31st March 2019.

    No, the income tax is paid during the financial year in which the income is earned. While filing ITR, if the tax liability is more than the already paid advance tax, the due amount must be paid with interest, if relevant.

    Get a Free Salah Today!

    Share with Us Your Queries, Doubts, and Questions Regarding This Service

      Blogs

      Form 3AA of the Income Tax Act

      Return filing is an essential part of managing income tax compliance in India. It is the process that kickstarts assessment procedures as assessees must file …

      Read More

      Tips to Save Taxes as a Salaried Individual

      Save tax on rent payment You may be operating outside your city and do not have company accommodation. Expenses on rent payment should be subtracted …

      Read More

      Income Tax e filing: Last Date is Knocking The Door

      There are two types of tax duty one is a direct tax, and the other one is an indirect tax. Income tax is a direct …

      Read More

      They trust us

      Scroll to Top