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  New e-Filing Portal www.incometax.gov.in launch on June 7th -  existing e-filing portal unavailable from  June 1st to June 6th, 2021 - Plan your work accordingly

  Income Tax refunds worth Rs.1.29 Lakh crore issued to over 39 Lakh taxpayers. CBDT issued refunds of over 1.29 Lakh Crore to more than 39.49 lakh taxpayers between 1st Apr'20 to 3rd Nov'20. Income Tax refunds of Rs. 34,820 crore issued in 37,55,428 cases. Corporate Tax refunds of Rs.94,370 crore issued in 1,93,059 cases.

Five benefits of Income Tax Return Here are the five unique benefits of filling Income Tax Return. It is necessary to file ITR if your salary is above 2.5 lakhs, a nd it is very much beneficial to file ITR even your salary is less than 2.5 lakh a year,  1. With the help of ITR you can easily get loan and credit cards easily from banks. Income Tax return is a yearly process to submit the statement of your income and expenditure towards saving.

Essential About Income Tax forms ITR- 1(SPONTANEOUS) IT CAN BE FILLED BY ONLY  THOSE INDIAN CITIZENS WHOSE ANNUAL INCOME (COMBINING SALARY AND OTHER RESOURCES SUCH AS PROPERTY OR INTEREST) IS 50 LAKH OR LESS. FOR THE FINANCIAL YEAR 2017-2018 NRI CANT FILL THIS FORM. IN THIS INTUITIVE FORM,FULL INFORMATION ON THE SALARY HAS BEEN SOUGHT. IN THIS YOU WILL HAVE TO GIVE INFORMATION RELATED TO ALLOWANCE,BENEFIT APART FROM SALARY,THE COST OF THE FACILITY AND DEDUCTION INFORMATION UNDER SECTION 16. HOWEVER ALL THIS INFORMATION ARE GIVEN IN FORM 16,BUT NOW IT WILL ALSO BE GIVEN IN THE RETURN FORM. ON PAYMENT OF RENT MORE THAN 50 THOUSAND TDS FACILITY IS THERE. NOW TO GET THIS TDS A SPECIAL COLUMN IS GIVEN IN WHICH YOU CAN GIVE  ITS NOTICE. IN THIS INFORMATION OF INCOME FROM PROPERTY LIKE RENT ,TAX GIVEN TO LOCAL AUTHORITY ,ANNUAL VALUE,INTEREST PAID ON BORROWED CAPITAL WILL BE GIVEN