What is E Filing of Income Tax Return (ITR)?
E-filing or electronic filing is submitting your income tax returns online.
There were two ways to file income tax returns.
1.The traditional way is the offline way, where you go the Income Tax Department’s office to physically file your returns. Now this way is no more in use.
2.The other way is when which is in use now is you e-file through the internet. Over the past few years, e-filing & E-verification has become popular because it is easier, doesn’t require physical documents and can be done in most user friendly manner through Navkar Digital Tax.
You are not required to sign the ITR also as all things can be done using modern technology and Navkar Digital Tax makes all these arrangements in most reasonable rate with Professional approach.
Am I Required to File Income Tax Returns?
It is mandatory to file income tax returns in India if any of the below conditions are applicable to you (as per the Income Tax Act – 1961):
If your Gross annual income more than the following basic exemption limits.
For Resident individuals below 60 years of age & HUF – Rs 250000
For Resident individuals above 60 years but below 80 years of age – Rs 300000
For Resident individuals above 80 years of age – Rs 500000
For Non- Resident Individuals (any age group) – Rs. 250000
Apart from this…
If you are Earning income other than salary like house property, etc.
If you want to claim income tax refund from the department.
If you are Earning from or have invested in foreign assets.
If you Wish to apply for visa or loan applications.
If you are a Company or a firm, irrespective of profit or loss.