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Income tax return 2024 ITR Return Filing last date
How to you file an ITR for a salary person? यहां Form 16 पे इशू होने लग गया है. Assessment Year 2024 & 2025 की ITR फाइलिंग कैसे होगी? क्योंकि नवीनतम कर प्रणाली में बदलाव होने वाला है, आपको कौन सी प्रणाली देखनी चाहिए? क्या आप इसे कितनी बार कर सकते हैं? क्या आप इसे कर सकते हैं? अगर आप पहली बार यहां फाइल कर रहे हैं, तो आप फॉर्म 16 के बिना भी ऐसे आईटीआर फाइल कर सकते हैं? क्या बातें आपको याद रखनी चाहिए? क्या आप सब कुछ जानेंगे?
How to calculate income tax on salary with example ?
Assuming you have made investments of ₹1,00,000 under Section 80C and are eligible for an HRA exemption of ₹1,50,000 per year. Income tax return 2024 ITR Return Filing last date
Compute Taxable Income
You get your taxable income after deducting exemptions and deductions from your gross salary. This is the amount on which you will need to pay tax and it will be applicable to income tax slab rates.
For Example:
1) Your taxable income would be ₹8,00,000 – ₹1,50,000 (HRA exemption) – ₹1,00,000 (Section 80C deductions) = ₹5,50,000
2) You will get your taxable income. hence after deducting exemptions and deductions from your gross salary. This is the amount on which you will be paying at the applicable income tax slab rate.
3) So lets suppose the exemptions and deductions from the previous steps. your taxable income would be ₹8,00,000 – ₹1,50,000 (HRA exemption) – ₹1,00,000 (Section 80C deductions) = ₹5,50,000.
4) Calculate Tax Liability | Income tax return 2024
Once you have found your taxable income. Now you can use the applicable income tax slab rates to figure out your tax liability. India has different tax slabs and different tax rates for different income ranges.
Example: Assuming you fall under the following tax slabs for the financial year:
- 0% for income up to ₹2,50,000
- 5% for income from ₹2,50,001 to ₹5,00,000
- 20% for income from ₹5,00,001 to ₹10,00,000
- 30% for income above ₹10,00,000
Your tax liability would be calculated based on these rates.
5) Consider Discounts and Charges
Once you find out what is your tax liability ? you can now apply any rebates (discount) and surcharges that are applicable to reach your final tax payable. Rebates, like Section 87A rebate, can further reduce your tax Amount. However, surcharges may apply for certain income levels.
For Example:
Assuming that you are eligible for Section 87A’s rebate of ₹12,500.
6) Calculation of Education
Finally, figure out education cess, which is a hike applied to your tax liability to finance educational initiatives.
For Example: Assuming a 4 percent education cess rate on your tax liability.
7) Final Conclusion
In India, income tax on salary calculation involves a number of steps. It adds to calculating your gross salary and reducing exemptions. Also, deductions, computing taxable income, calculating tax liability, and taking into account rebates. Surcharges and making a calculation of education cess. Individuals can calculate their income tax liability. And they can ensure compliance with Indian tax laws by following these steps. Income tax return 2024 ITR Return Filing last date
Income tax login | Income tax return 2024
Please click on the below link to directly login to official website of Indian Income tax E – Filing
Register on the Income tax portal:
- Enter your details like if you are tax payer or other user?
2). Enter your Pan Number and Validate the details.
3). Once you Pan is Validated than confirm if you want to login as a Individual tax payer? “Yes” and then click on continue.
4). Enter your Middle name and other personal information.
5) Enter your contact details, Phone number, Email address, and select self and address which is same as Aadhar card.
6). Once you click on continue it will ask you to enter your OTP. You need to verify both the OTP from mobile number and email address. Once you click on continue it will ask you to verify your details. “Income tax return 2024 ITR Return Filing last date’
Once you confirm all the details are correct and updated. You need to click on continue.
7). In the lest step it will ask you to setup a strong password to make your account secure.
While setting up the password make sure it should be
password between 8 to 14 characters long
use upper and lower case
use a number in your password
use a special character in your password
Once you are Registered successfully on the Income tax portal.
Now please click on “Proceed to Login” if you would like to fill your income tax e filing.
Income tax e filing | Income tax return 2024 ITR Return Filing last date
1). Login to Income tax E-portal
Now you will get another login page. To login on portal you can enter your- Aadhar number, PAN number or user ID. and click on continue
It will ask you to enter your password. now you will see that you are successfully logged in to the e-portal of Income tax
On this portal you can check the last date of return filing or Income tax and important information related to your income tax.
Also you can check the total return amount which you will be getting after the income tax filing 2024.
2). File Income tax return 2024
To File the Income tax, please click on Blue option “File Now”
than click on “Proceed with ITR 1”
Once you proceed you need to enter your income details and other investment under all the sections
like: House rent, Home lone, Mutual funds, Insurance plans, Tuition fees, Sukanya Samriddhi Yojana for girl child. Check what is TDS in income tax ? also check if you have paid or received any TDS money in the same financial year 2024.
Make sure you check the 87a in income tax benefits.
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3). Also you can check the estimate of your income tax.
This will give you estimated details that if you are going to get some return amount or you still need to pay some money as a income tax to government.
