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Can the computer replace your chartered accountant?
Can the computer replace your chartered accountant? Yes, says a software firm, which is aiming its only product at the small-time taxpayer who can't afford the hassles of finding a person to help file tax returns.
Who should file income tax return?
Every individual has to furnish the return of his income tax if his/her total income before allowing deduction under Chapter VI-A (i.e., if his gross total income in the return form) exceeds the maximum amount which is not chargeable to income tax
Due date of filing income tax return
Due date is the date prescribed by the department as the last date of filing return. For Individuals who are not liable to be audited the due date prescribed for filing return is 31st July 2008 unless extended further by a separate notification
Forms to be used for filing return
The forms Saral, Naya Saral, 2D, 2E are now outdated and can not be used to file returns.
Obtain your Form 16 early
Form 16 is a certificate issued by the employer at the end of the year and provided to the employee. This certificate provides details of the salary income of the employee and the TDS deducted from the employee's income.
* Form 16 is all you need to file ITR if you have reported all your income to your employer
How to file income tax return (E-filing)
E-filing is essentially another mode of filing your income tax return, in addition to the popular mode of printing and submitting your return at the income tax counters. It is a two step process
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