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Income Tax Return

 Income Tax Return

Salaried Basic Package for Salaried, House Property and Other Source Income

Rs 500/- all-inclusive

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Income Tax Return
Income Tax Return with Salary, House Property, Capital Gain and Other Source Income

Rs. 1,000/- all-inclusive

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Income Tax Return PGBP
Income Tax Return with Salary, House Property, Capital Gain, Other Source and Business Income (Turnover less than 20 Lakhs)

Rs 2000/- all-inclusive

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How to choose ITR Form for A Y 2016-17

ITR-1: (Only Individual)
1. Salary
2. Only one House Property – No B/F losses
3. Other Sources – No B/F lossesException:-Ordinary Resident &
(1) Asset located o/s India; or
(2) Relief/Deduction U/s 90, 90A and/or 91; or
(3) Agricultural Income (Substituted for has any income not chargeable to tax), exceeding Rs. 5000/-

ITR-2: (Individual/HUF)
1. Salary2. More than one House Property or B/F Losses under the head3. Capital Gains4. Other Sources-B/F LossesException:- No PGBP Income

ITR-2A (New Form): (Individual/HUF)
1. Salary
2. More than one House Property or B/F Losses under the head
3. Other Sources – B/F LossesException:-No PGBP Income No Capital Gains Exception:- Ordinary Resident &
(1) Asset located o/s India; or
(2) Relief/Deduction u/s 90,90A and/or 91.

ITR-3: [(Individual / HUF (who is partner in firm)]
1. PGBP income includes only Interest/Salary/Bonus/Commission remuneration from partnership firm in which the Individual or HUF is a partner.
2. Salary
3. More than one house property – B/F Losses
4. Capital Gains.

ITR-4S (SUGAM): (Individual/HUF)
1. PGBP:-Presumptive income u/s 44AD or 44AE
2. Salary
3. More than one House Property -B/F Losses
4. Other Sources – B/F Losses
5. Capital Gains
Exceptions:- Ordinary Resident &    (1) Asset located o/s India; or
(2) Relief/Deduction u/s. 90,90A and/or 91;or
(3) Agricultural Income (Substituted for has any income not chargeable to tax), exceeding Rs. 5000/-

ITR-4: (Individual/HUF)
1. Proprietary PGBP
2. Salary
3. More than one HP- B/F Losses
4. Other Sources – B/F Losses
5. Capital Gains.

ITR-5: (Firm/AOP/BOI/Local Authority/ Artificial Juridical Person)
Any Income

ITR-6: [Company (Except Section 25 companies)]
Any Income

ITR-7: (Trust/Political Party/Section 10 Exempt Institutions/Section 35 college/institutions)
Any Income

5th August 2016 is the last date to file your Tax Return

DOCUMENT REQUIRED TO FILE INCOME TAX RETURN

1. Copy of your PAN Card
2. Form 16 – received from your employer
3. Form 16A – for any Income other than salary ( if available)
4. Bank Interest ( Interest upto Rs. 10,000 from saving bank is exempt from tax u/s 80TTA)
5. Bank Statement ( Only for Business Entrepreneurs)

PROCESS INVOLVED FOR FILE INCOME TAX RETURN ONLINE –

1. We will check your form 26AS and check if any TDS is reflecting or not.
2. We will advise you on Income tax Refund or payable Amount.
3. We will guide you about the best possibilities to take Income Tax exemptions and Save Taxes.
4. We will file your Income tax Return and mail you the acknowledgement.

These steps are to be followed when we e-File without using a Digital Signature

When you e-File without using a Digital Signature, you receive ITR-V as an attachment in the e-mail sent by the Income Tax       Department. Since the return you filed was not signed, your filing is still incomplete. To complete the return filing process,       follow the below mentioned steps –

  •  Print and sign ITR-V.
  •  Do not fold this signed ITR-V. Enclose the same in A-4 size envelope.
  •  Mail the envelope within 120 days of e-Filing to:

Income Tax Department CPC
Post Box No.1,
Electronic City Post Office,
Bangalore 560100, Karnataka.

Upon receipt of ITR-V, Income Tax Department will send an e-mail acknowledging the receipt of signed copy of   ITR-V. This is  your acknowledgement.

Your filing is now complete.


MyBizz Consultants Customer Support team will be happy to help resolve all your doubts and queries. You can write to us at info@mybizzconsultants.com