Income Tax Return (ITR) Filling for FY 2023-24
AapnaCA has simplified Online Income Tax Return Filing! Begin your ITR filing by selecting all your income sources for accurate e-filing,
then click “Continue” to enjoy Aapnaca’s tailored and effortless tax filing process..
then click “Continue” to enjoy Aapnaca’s tailored and effortless tax filing process..
Looking for a dedicated eCA to handle your taxes?
- All-Round Aid
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- Affordable Filing Fees
Streamline Your Income Tax Return Filing with Our Comprehensive Solution
Our platform offers extensive features for ITR filing that streamline the entire process, ensuring accuracy and efficiency in income tax filing.
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Maximize Your Tax Benefits with Strategic Income Tax Return Filing at AapnaCA
One-Stop Destination for Comprehensive Income Tax Filing One-Stop Destination for Comprehensive Income Tax Filing
Expert Guidance on Tax-Efficient Investments to Minimize your Tax Burden
AI-integrated software Auto-Selects the Right ITR Form for effortless filing
Tax Computation Assistance to Determine which Regime to Choose From
File Your Tax Return FAQs
E-filing of income tax returns refers to the process of filing ITR (Income Tax Return) online. In other words, it is the process of submitting your tax returns electronically.
Following are the documents required for filing ITR:
- Form 16
- Aadhar and PAN Card
- Salary Slips
- Bank interest certificates
- TDS certificate issued by banks and others
- Annual Information Statement
- Proofs of tax-saving investment
- Capital gains statement
- Details of foreign assets and investments
- Form 26AS
Apart from staying compliant, there are various other benefits of filing income tax return online.
Some of them are listed below:
- Easy loan approval
- Income and Address Proof
- Quick Visa Processing
- ITR filing online ensures speedy income tax refund
- Acts as proof of income and address
- Losses can be Carried Forward
- For buying term insurance
- Avoid penalty on non-filing of income tax returns
here are 7 ITR forms in India; each served to different taxpayer profiles:
- ITR 1 (Sahaj): For residents with an income up to Rs 50 lakh from salary, a single house property, or other sources (excluding lottery and racehorses). NRIs cannot use this form.
- ITR 2: For individuals and HUFs with income above Rs 50 lakh and income from agriculture exceeding Rs 5,000. Suitable for those earning from salary, home, capital gains, or other means. Can also be used by NRIs.
- ITR 3: For individuals and HUFs earning from a profession or sole proprietorship, including income from business, employment, real estate, capital gains, trades, and dealing in futures and options.
- ITR 4: (Sugam): For individuals with income from a business with turnover up to Rs 2 crore or a profession with income up to Rs 50 lakh. Suitable for freelancers in notified professions.
- ITR 5: For entities like Investment Funds, Business Trusts, Cooperative societies, LLPs, AOPs, BOIs, etc. to declare profits and other sources of income.
- ITR 6: For companies, except those seeking Section 11 exemption. Requires disclosure of housing property rental revenue, business income, and multiple sources of income.
- ITR 7: For individuals or entities required to furnish returns under Sections 139(4A) to 139(4F), which include trusts, political parties, scientific research associations, medical institutions, universities, business trusts, and investment funds.
Yes, taxpayers can file their ITR themselves either through the income tax department’s website or through AapnaCA website. Filing your Income Tax Return (ITR) with AapnaCA offers a convenient and user-friendly experience. All you have to do is enter some basic information about your salary and personal details, and the AI-integrated DIY ITR filing software automatically extracts your personal details and employment details, selects the appropriate ITR form, computes the tax liability, and files your ITR.
Filing the Income tax return late can result in various penalties and consequences. The penalty is Rs 5000 for individuals with a total income exceeding Rs 5 lakh, while it is Rs 1000 for those with income up to this limit.
Yes, e-filing of Income Tax Returns (ITR) is mandatory if the gross total income of an individual taxpayer exceeds the basic exemption limit. Under the old tax regime, individuals under 60 years old needed to file an Income Tax Return (ITR) if their income exceeded Rs. 2.5 lakhs, while individuals over 60 years old needed to file if their income exceeded Rs. 3 lakhs.
In the new tax regime, the income threshold for individuals under 60 years old has been raised to Rs. 3 lakhs. Other Scenarios Where it is Mandatory to File ITR.