Any individual earning an income above minimum exempted amount is liable to pay income tax.
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Any individual earning an income above minimum exempted amount is liable to pay income tax. The income can be earned from any source like salary, rental income, interest income from savings, income from mutual funds, agriculture income, sale of property or business or professional income.
Income Tax Return is a form required to be filed with Income Tax Department. The format and applicability of these forms are defined by Income Tax Department. All forms have separate disclosure requirements according to the Incomes Reported.
As per The Income Tax Act 1961, eligible individuals need to file their income tax returns once a year. Filing of Income Tax Return legitimates your earnings and investments whereas in case of non-filing of Income Tax Return if the income is required to be disclosed becomes BLACK MONEY. If you File Income Tax Return Individual Online on time you can get an income tax refund as well, if you have paid excessive taxes to the government.
Legal Window will provide you all the necessary services and legal advice related to File Income Tax Return Individual Online and also guide for other compliances. You may get in touch with our team on 072407-51000 or email [email protected] for your Personal ITR Filing in Jaipur.
Government has given option to choose between the new and old tax regimes to the taxpayers. The basic concept behind these regimes is that if you do not have investments to claim various deductions/exemptions under Sec. 80 then you can opt for new tax regime and pay taxes at lower rates. A person who choose to opt for new tax regime cannot claim following deductions-
Certain allowances like LTA, HRA, allowances granted to meet expenses in performance of duties of office.
Deductions under salary like Standard Deduction, Entertainment allowance and Professional tax.
Interest payable on borrowed capital for self-occupied property.
Standard Deduction in case of family pension.
Several deductions available under Sec. 80 like life insurance, health insurance premium, pension funds, provident fund, donation etc.
The option to avail the option can be taken while filing the Income Tax Return. Our Team will help you assess the beneficial option for you so that you can get maximum tax benefits.
Most of the banks and NBFCs ask for ITR receipts from Individuals for the last three years when you apply for high-value loans like home and car loans. Hence, you should regularly file income tax returns if you want to take a loan in the future.
ITR Acknowledgement form is the best proof of Income or ascertaining the net worth of the individual. By having a look at the ITR Form, you can analyze the type of income and the taxes paid by an individual.
By File Income Tax Return Individual Online you can avoid penalty levied on taxpayers who don’t file an Income Tax Return within the due date.
In case you have already paid advance tax or any TDS has been deducted by your employer or any investments by the authorities, then you can claim for the refund if excess tax has been paid by any concerned authority.
For those who have a desire to shift abroad, ITR is the most important document that any foreign embassy asks for. It is really important to regularly file Income Tax Returns.
*This year government has announced that Senior citizens aged 75 years and above need not file ITR if the source of income is only pension and interest from banks. However, it is advised to keep filing ITRs due to above benefits and uses.
Individuals can file following Income Tax Return Form written below according to their eligibility:
| ITR FORM | Type of TaxPayer | Residential status | Who can file? |
|---|---|---|---|
| ITR 1 | Individuals having total income up to 50 lakhs |
| Income from:
|
| ITR 2 | Individuals having total income of more than 50 lakhs |
| Income from:
|
| ITR-3 | Individuals or Hindu Undivided Family who have income from proprietary business or are carrying on any profession |
| Income from:
|
| ITR-4 | Individuals, HUFs and Firms (other than LLP) |
| Income from:
|
Fill the simple questionnaire provided by our team.
Provide us all the necessary documents as per the category of your income as mentioned above.
We will analyse all the details and after verification from client we will file your income tax return before the due date and protect you from any penalty.
We will further inform you after filling your Income Tax Return and also provide you the return form and computation.
For Taxpayers not eligible to get Tax audit: Due date for Personal ITR Filing in Jaipur for Taxpayers not falling under tax audit limit or who opt for presumptive taxation for F.Y 2026-27 i.e. A.Y. 2027-28 is 31st July, 2027. Option to avail presumptive taxation is available to business having turnover less than Rs. 2 crores.
For Taxpayer eligible to get Tax audit: Due date for filing Income tax Return for Taxpayers falling under tax audit or who do not opt for presumptive taxation for F.Y 2026-27 i.e. A.Y. 2027-28 is 30th October, 2027.
Taxpayer can file belated Return up to 31st December, 2027 for Assessment year 2027-28.
Where a person is required to file Income Tax Return u/s 139(1) fails to file the return within prescribed limit u/s 139(1) shall pay prescribed late fee in following manner:
For non-residents, rates as applicable to an individual aged upto 60 years will apply. New Tax Regime (Applicable for F.Y. 2026-27) Under New Tax Regime uniform rates are there for all the taxpayers.
| Income | Upto 60 yrs (Rs.) | Between 60 yrs-80yrs (Rs.) | More than 80 yrs(Rs.) |
|---|---|---|---|
| Basic Exemption Limit | 2,50,000 | 3,00,000 | 5,00,000 |
| Above Basic Limit - ₹5,00,000 | 5% | 5% | Nil |
| Between ₹5,00,001 – ₹10,00,000 | 20% | 20% | 20% |
| Above ₹10,00,000 | 30% | 30% | 30% |
| Income | Tax Rates |
|---|---|
| Up to ₹2,50,000 | Nil |
| Between ₹2,50,001 – ₹5,00,000 | 5% |
| Between ₹5,00,001 – ₹7,50,000 | 10% |
| Between ₹7,50,001 – ₹10,00,000 | 15% |
| Between ₹10,00,001 – ₹12,50,000 | 20% |
| Between ₹12,50,001 – ₹15,00,000 | 25% |
| Above ₹15,00,000 | 30% |
Talk to our team before you begin.