Filing your taxes can be hard, but it’s even harder if you’re not sure where to start. Most of the taxpayers are not tech/computer savvy and they depend on CA’s to file their IT return every year. The Income Tax Department has launched a new mobile app that is easy to use and can help you file your taxes. The mobile app provides various features such as locating a tax return preparer near you, tools for calculating your taxes or ASK IT – A Chatbot. You can also play the game “Tax Gyaan ” using this free tool!.
To meet the needs of the people during this pandemic, the central government recently extended tax return filing deadlines for 2021-22 by two months. As of the new deadline, taxpayers can file their ITR until 30 September 2021 instead of 31 July.
The App is called “Aay?k?ar Setu” – Mobile Application for Tax Payer Services Module.
1. Locate a Tax Return Preparer near you (TRP Scheme)
Using this feature, you can find a tax return preparer in your area easily. This service is available on Android and iOS.
To assist small and medium taxpayers, the Indian government has put into place a tax return preparer scheme. TRP Scheme- a government program that allows tax professionals called the Tax Return Preparer (TRPs) to help individuals with their taxes. The Government’s Tax Return Preparer Scheme (TRPS) offers training for unemployed or partially employed graduates in select disciplines such as Law, Economics, Statistics, Mathematics, Commerce, and Management/Business Administration. The Income Tax Department manages the TRP Scheme.
2. Calculate your taxes with the tools provided by the Income Tax Department
It has a section called ‘calculate your tax, which is basically a tax calculator provided by the Income Tax Department. You can calculate your tax liability using this tool.
3. ASK IT – A Chatbot to answer your questions about income tax returns
You can ask questions to the bot and it will answer your queries related to income tax or general issues, like GST rates.
4. Play a game to learn more about income tax returns and how they work
You can play a fun game and increase your knowledge about income tax through this game called “Tax Gyaan”.
This game is specially designed to teach the basics of income tax in an interactive format. You learn as you play!.
5. File your return with mobile app from Income Tax Department
You can file your IT return using the mobile app. To help you file your income tax return, the Income Tax Department has launched this app which is available on Android and IOS platforms. The app is secure & safe to use.
The new Income Tax Mobile App Aaykar setu is the best way to file your taxes. The mobile app provides various features such as locating a tax return preparer near you, tools for calculating your taxes or ASK IT – A Chatbot. You can also play the game “Tax Gyaan” using this free tool!.
Download the “Aaykar Setu” app today and get started on filing your income tax return! It’s fast, easy and best of all FREE!
To use the Income-tax e-filling service first you need to register for it. In the era of digitalization, you can easily get the benefits of this facility. Through this article, we are offering you some instructions and guidelines to register for e-filing Income Tax Returns. To register for the e-filing Income Tax Return service you must have a PAN card without a PAN card and its details you cannot register for these beneficial services. Make sure while registering for it you have all essential details such as PAN card details, Contact Details, and others. After the registration procedure, you can easily avail of online tax service and much more
Procedure to register for e-filing Income Tax Return
To avail, all online facility-related Income tax returns you must have to register for e-filing Income Tax Returns. Otherwise, you can’t avail of this beneficial facility. Here we are offering you an easy tutorial that will help you to register for e-filing Income Tax Return:-
Visit the e-filing website of the Income Tax Department which is gov.in
Then click on the “Register Yourself” link and Select User Type (Individual/HUF/Other than Individual/HUF and other) by click on the radio button.
Click on Continue Button.
After that User, the Registration page will directly flash and start filling in mandatory details such as PAN, Surname, First Name, Middle Name, and Date of Birth.
Check all the details you field to click on the “Continue” button.
Then in the next step start filling the registration form like entering a User ID, Password, Confirm Password, Primary Secret Answer, and Secondary Secret Answer all this information is mandatory to be a field.
In the Persona Deals section, your details will already populate by previously entered basic details
Then In the Contact detail section start entering your contact details make sure you entered the correct contact details because your registration regarding information will be sent to these contact numbers. Enter Landline Number, Mobile number, Alternate Mobile number, Email Id, Alternate Email Id, and Fax number.
In next enter your Current Address details for example – Flat/Door/Building, Road/Street, Area/Locality, Town/City/District State, Pin Code, and alt last select you Country.
At last Enter Captcha Code and click on Submit button.
If the registration process successfully completes the user will receive a confirmation e-mail with an activation link to the registered Email ID and OTP is also sent on your registered mobile number.
The tax credit is the type of tax boost which allows some taxpayers to deduct the amount of the credit from the total amount of tax. Taxpayers can now check or view this facility online. Tax credit statement or Form 26-AS is such an important document while you are doing e-filling. Instead of manually process the online process is too easy and fast. You can view your tax credit through the TRACE web portal online. Here we are providing some simple steps through which you can easily view your Tax Credit Online.
Procedure to view your tax Credit online
Follow the given steps to check your tax credit online. Make sure that while checking the 26 AS form you need to follow provided steps:-
Visit the official website of e-filling which is gov.in
Then click on the “Login Here” button
Enter User ID, Password, and code. Then click on the Login button.
After that in “My Account” section click on “View Form 26AS (Tax Credit)”
Then hit the “Confirm” button
Later you will redirect to the TRACES website
Then in TRACES portal chose the box on the screen and click on the “Proceed” button
Then click on the link provided at the bottom “View Tax credit (Form 26AS)”
Now you need to select and enter some important information like Assessment Year and format
Click on “View or Download button”
Then to open the document enter the asking password.
At last, you’re Tax Credit or 26AS form will be displayed on your computer screen.
View your Tax Credit Online through Net Banking of your Bank Account
This facility can be availed by only a PAN cardholder having a net banking facility with an authorized bank. You can View Tax Credit Statement (Form 26AS) only if you have PAN number is mapped to that particular account. Login to net banking website and select the option of view Form 26 AS. You can view this facility only select banks which are provided below:-
eFilling: File your Income return online. This is a complete Online Guide for Filing Income Tax returns, Complete information is given below. You can file your ITR yourself without paying anything to third-party service providers or Chartered accountants.
What is the Income Tax?
An income tax is a tax which is imposed on individual or taxpayers accordingly the income or from taxable income. This tax is imposed by the government on the taxable income of an individual, companies, association of persons, firms, the body of individuals, local authority, and any other artificial judicial person.
Income tax is one of the important wellsprings of government funds which use to serve the public for the better. So in case, you are also income taxpayers and you are finding some kind of difficulties to calculate your income tax we are here to helping you. As we all very well known about who important to pay income tax and it is a legal subject as well. With the help of the income Tax Calculator, you can simply calculate your net income tax liability for the current Assessment Year. That’s mean you would paying tax for the income earned during the last Financial Year (1 April to 31 March).
In simple word Income, Tax Calculator is a simple web-based tool that helps one to get the exact and correct amount of payable tax.
Steps to Calculate Income Tax Online
Here we are offering you some simple steps with the help of these steps you can easily calculate your income tax. Follow the steps which are provided below:-
In Tax Information and Services you will find the Income and Tax Calculator link click on that
After clicking on the Income and Tax Calculator link Income and Tax Calculator form will flash.
Start filling the information such as-Select Assessment Year, Select Tax Payer (Individual/ HUF/ Firms/ AOPs/BOI/ Domestic Company/ Foreign Company), Select (Male/ Female/ Senior Citizen), Income from House Property, Capital Gains, Income from Other Sources and many other details.
At last: Click on Calculate button
How to file an Income Tax Return (ITR) online :
Here are the complete steps to file an income tax return (ITR) online
Visit the official site of the e-filling income tax department at incometaxindiaefiling.gov.in
Then click on submit returns/ forms then the login page will be open.
Provide the user ID and password for login. (If You don’t have login details, you might want to reset your password or create a new user account if this is your first time of e-filling.
After log in dashboard page will be open. Here click on the “My pending action” tab.
Then online ITR form will be open. There need to provide the PAN, ITR form name, select the assessment year, etc and click on the submit button.
Next, click on personal information on the assessment page.
Provide the personal; information and click on submit’.
Then click on income details and provide the income details. Then click on submit’.
Next, click on tax details and provide the tax details then click on submit’.
Next, click on taxes paid and verification and provide the details and verify the provided details. Then click on submit.
Then click on my account and select the e-filled/returns forms. After that verify your ITR and click on it.
Download the ITR-V/acknowledgment. After that click on e-file and select the e-verify return.
Then verify your ITR which means ITR file is completed.
Important things to remember to file an income tax return (ITR) online Fill in the details without mistakes otherwise file will not be accepted. Verify the details carefully in the section of verification.
Help To File ITR
If you need help in filing your ITR, you can also take the help of professionals who charges about Rs.500 per filing.
Standard deduction of Rs 40,000 allowed for transport, medical reimbursement for salaried class.
Section 80D limit proposed to be hiked to Rs 50,000 for senior citizens
Proposals and Announcements:
All trains will soon have Wifi and CCTV.
All railways stations with a footfall of more than 25,000 to have escalators
PAN a must for transactions above Rs 2.5 lakh or more
Govt health scheme to cover 10 crore poor families is the world’s largest government-funded health protection scheme.
Electronic IT assessment will be rolled out across the country,
Kisan credit card facility extended to fisheries and animal husbandry sectors.
2 crore more toilets will be built under Swachh Bharat Mission.
1 crore houses to be built under Pradhan Mantri Awas Yojana (PMAY) in rural areas.
Rs 4.6 lakh crore sanctioned under MUDRA Scheme to target 3 lakh crore for lending under PM Mudra Yojana
99 cities selected for smart cities project with an outlay of Rs 2.04 lakh crore.
5 lakh WiFi hotspots will be set up in rural areas to provide easy internet access
Cash payments of more than Rs 10,000 by trusts and institutions will not be allowed.
Companies with turnover of up to Rs 250 crore to be taxed at 25 percent:
60 crore bank accounts under the Jan Dhan Yojana to be opened.
Bitcoins, not a legal tender, and Govt. will identify it as an illegitimate transaction.
Govt will bring a scheme to provide a unique ID to every enterprise similar to Aadhaar.
Health and education cess has been increased to 4% from 3%
Rs 600 crore allotted to Tuberculosis patients undergoing treatment.
Amrut program to focus on the water supply to all households in 500 cities.
Government to contribute 12 percent of EPF contribution for new employees in all sectors
proposed to introduce a tax on distributed income by equity-oriented mutual funds at 10 percent.
proposed to tax long-term capital gains exceeding Rs 1 lakh at 10% without indexation.
Specialized railway university to be set up at Vadodara.
Pradhan Mantri Vaya Vandana Yojana (PMVVY), to be increased to Rs 15 lakh from the present Rs 7.5 lakh. Airport capacity to be hiked to handle 1 billion trips every year.
Some Tax Changes:
Customs duty on dental hygiene, perfumes, after-shave, room deodorizers, deodorants, preparations for use on hair increased to 20%.
Import duty on fruit juice increased from 30% to 50%.
Customs duty on mobile increased to 20% from existing 15%
Import duty on LCD/LED/OLED panels, parts of TVs hiked to 15%, duty on smart watches, wearable devices, footwear increased to 20%.
proposed revising salary of:
Rs 5 lakh for the President of India
Rs 4 lakh for the Vice President
Rs 3.5 lakh for the Governors
In short, the budget 2018-19 is a balanced budget for every sector. There is no change in the Salaried class but 1% extra in form of cess to be an extra burden. Let us know in the comments if you are happy with the budget.