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Which ITR form to be filled if Not getting Payslips and Form-16 from the employer?

Asked on 30-07-2018 by babu sahu

Answered by NewsBytes

You can still file your ITR even when you do not have payslips and form no-16. Calculate your income and check form 26AS for any TDS deductions. File the return using ITR1.

What about the exemption of FD interests for the 17-18 financial year for senior citizens?

Asked on 25-07-2018 by Janardhanan Ananth

Answered by NewsBytes

The government has announced an increase in exemption limit on interest on Fixed Deposit. This is for the benefit of senior citizens. The exemption has been increased from Rs.10,000 to Rs.50,000. The financial bill proposed in the year 2018 mentioned this change.

How to upload form no.16 issued by the employer for filing the ITR?

Asked on 25-07-2018 by Rajendra Wadi

Answered by NewsBytes

You can upload your Form 16 using MyITreturn or through Income Tax website. These are the authorised websites which will make your work easy and quick.

How can I fill ITR by smartphone?

Asked on 25-07-2018 by Chintamani Baby

Answered by NewsBytes

You can download the Income Tax Filing Portal like All India ITR and ClearTax for filing ITR easily through your smartphones. It will take hardly five minutes to complete the process.

After calculations and accounting of TDS, if I need to pay IT, how do I make the payment?

Asked on 25-07-2018 by Dhandapani TL TL

Answered by NewsBytes

You can pay your income tax online via Challan 280. It is a form which you should fill and submit to pay tax. Visit tax information network and select the form of Challan 280. Fill the necessary details and personal information. Submit the form and then check the receipt. Download the receipt for further reference.

If a taxpayer is not having Aadhaar Card, can he file his tax return through Income Tax site?

Asked on 25-07-2018 by Sunshine S

Answered by NewsBytes

It is compulsory to have Aadhaar Card to file your income tax through online portal. You have to link your PAN with Aadhaar and provide the Aadaar details in IT form.

How much tax is on the sale of property?

Asked on 25-07-2018 by Nitya Shetty (nityas2012)

Answered by NewsBytes

There are several taxes on the sale of a property. These taxes are Capital gain tax(on the profit generated by the property), TDS(@1% on the amount payable to the seller by the buyer), service tax( 3.75% to 4.5% according to the size of property) and VAT( paid by the buyer to seller).

Which ITR form for Agriculture income, Dairy income?

Asked on 25-07-2018 by Shaihnaaz Setia

Answered by NewsBytes

The income generated from agriculture is exempted from income tax. However, the income generated from dairy farming is not considered a part of agriculture that is why one has to pay tax on dairy farming. You have to file Form 4 for income from dairy farming.

How to claim insurance paid for the niece?

Asked on 25-07-2018 by Julluri Aruna

Answered by NewsBytes

In India, you can not claim insurance on any payments you did for your relatives such as niece. Though in the US, if your niece or nephew is claimed as dependent by you and they have lived for one year with you, then you can claim for the return on insurance paid for them.

Which IT form should an MCX trader use?

Asked on 25-07-2018 by Gururaj Badami

Answered by NewsBytes

The type of Itr form which a trader should use is ITR3. If you are using trading as business income, you have to fill ITR3. If you are an investor or trader, you can still show your income and investment under Form 3.