Frequently asked questions
What is form 16?
1. Form 16 is a certificate issued by an employer evidencing the TDS which is deducted from your salary and deposited with the authorities. It contains the information you need to prepare and file your income tax return.
2. It is issued annually, on or before 15th June of the next year, immediately following the financial year in which tax is deducted.
The company has already deducted tax from my salary. Do I still need to file tax returns?
Even if the tax is deducted at source (TDS), and you’re not liable to pay any more tax to the government, it is compulsory to file returns if your income exceeds the basic exemption limit. Filing tax returns is a way to declare to the government that you have earned income only from the sources revealed by you.
What is the Last Date for filing an Income Tax Return for individuals?
The due date for filing your Income Tax Return for the financial year 2017-2018 is 31st July, 2018.
However belated return for F.Y. 2017-2018 can be filed upto 31st March 2019.
What is Form 26AS?
Form 26AS is a statement that shows the details of tax credit in a tax-payer’s account as per the I-T Department’s records. The tax credit will include all the different taxes like TDS, self-assessment tax, advance tax etc.
Can I file a revised return to correct mistakes made that I make in the original return?
It is possible to file a revised return if the original return has been filed before the due date and the Department has not completed the assessment. However, a revision is not possible for a return filed after the due date.
IT Return can be revised within a period of one year from the end of the relevant assessment year or before completion of the assessment whichever is earlier.
What is ITR V (Acknowledgement) Verification?
Once Income Tax Returns are filed, you need to verify it. It is not treated as valid until it is verified by the taxpayer. There are different ways of verification such as:
1. It can be printed, signed and sent to Centralised Processing Centre, Bengaluru.
2. It can be e-verified using an electronic verification code (EVC), Aadhar, ATMS, netbanking or bank account based validation.
ITR Filing-Salaried Individuals (Corporate Package upto 10 returns)
Want to get income tax return filed of your employees? Your are at the right platform. Get this plan to file income tax return of your employees
- Assistance on income tax queries like issues relating to deduction, tax saving etc
- Filing of Income Tax return (Maximum 10 returns)
- Assist in payment of challan for discharging tax liability
- Review of Computation of tax and file return once approved by you
- In case of more than 10 returns, you can mail us at support@taxgoal.in or contact us on +91-9899693838 for better offers.
- Organisations who want to get income tax return filed of their employees
- Individuals having income from salary, house property rental income, other sources income only, Long term capital gain from shares & securities
- Not eligible for income from business or profession and capital gains form sale of house property or short term capital gains on intra day transactions
- Form 16 (one or multiple)
- Details such as PAN card no, AADHAAR CARD
- Bank details such as account no, IFSC code
- Bank account statement
- Proofs of Investments such as LIC premium paid, fees of children etc
- Details of any Advance Tax deposited
- Any other detail as required
| Plan Charges | 3990 |
| Goods & Services Tax (GST) | 718 |
| Total Cost | 4708 |
* Estimate Time for Service Completion
5-6 Days
What is form 16?
1. Form 16 is a certificate issued by an employer evidencing the TDS which is deducted from your salary and deposited with the authorities. It contains the information you need to prepare and file your income tax return.
2. It is issued annually, on or before 15th June of the next year, immediately following the financial year in which tax is deducted.
The company has already deducted tax from my salary. Do I still need to file tax returns?
Even if the tax is deducted at source (TDS), and you’re not liable to pay any more tax to the government, it is compulsory to file returns if your income exceeds the basic exemption limit. Filing tax returns is a way to declare to the government that you have earned income only from the sources revealed by you.
What is the Last Date for filing an Income Tax Return for individuals?
The due date for filing your Income Tax Return for the financial year 2017-2018 is 31st July, 2018.
However belated return for F.Y. 2017-2018 can be filed upto 31st March 2019.
What is Form 26AS?
Form 26AS is a statement that shows the details of tax credit in a tax-payer’s account as per the I-T Department’s records. The tax credit will include all the different taxes like TDS, self-assessment tax, advance tax etc.
Can I file a revised return to correct mistakes made that I make in the original return?
It is possible to file a revised return if the original return has been filed before the due date and the Department has not completed the assessment. However, a revision is not possible for a return filed after the due date.
IT Return can be revised within a period of one year from the end of the relevant assessment year or before completion of the assessment whichever is earlier.
What is ITR V (Acknowledgement) Verification?
Once Income Tax Returns are filed, you need to verify it. It is not treated as valid until it is verified by the taxpayer. There are different ways of verification such as:
1. It can be printed, signed and sent to Centralised Processing Centre, Bengaluru.
2. It can be e-verified using an electronic verification code (EVC), Aadhar, ATMS, netbanking or bank account based validation.