Académique Documents
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• Salary Income:-
All income received as salary under Employer-Employee relationship is taxed
under this head.
• House property Income :-
Any type of income received on the house property like- Rent received,
Municipal Valuation, Fair Rent etc.
• Income from capital gain:-
Transfer of capital assets results in capital gains. Archaeological collection,
Drawings, Painting, Real estate, equity shares, bonds, jewellery. Thus, now any
surplus received from sale of these articles would be liable to tax under the head
capital gain.
• Business or profession income :-
Any type of income received from business or professions
• Income from other sources:-
Dividend, Commission, lotteries, crossword puzzles, races including horse races,
card games, any sort or from gambling or betting
What is income tax Returns?
• "Income Tax Return" is a term which is often used when we talk
about income tax. It is a way by which we pay this tax. When total
annual income of a person, including all sources, is more than
maximum unchangeable limitation ( At present it is Rs.1,60,000/-)
then that person is liable to pay income tax.
• According to Income Tax Act 1961, every person, who is an
assesse and whose total income exceeds the maximum exemption
limit, shall be chargeable to the income tax at the rate or rates
prescribed in the finance
Taxable act.(Rs.) Assessment year 2009-10
income slab Rate (%)
Up to 1,60,000 NIL
Up to 1,90,000 (for women)
Up to 2,40,000 (for resident individual of 65 years or above)
1,60,001 – 3,00,000 10
3,00,001 – 5,00,000 20
5,00,001 upwards 30*
TDS (Tax deducted at source)
This tax is deducted at the source of income, by the employer or the
payer and paid to the government. It includes salary, interest,
commission and contract fees, rent, professional fees, etc. This type
of deduction is popularly known as TDS.
For example if the earning up on fixed deposit is Rs. 5,000 in a
bank, TDS at 10%
i.e. a total of 10.2% will be deducted at the time of credit or at the
time of payment, whichever is earlier.
What is e-Filing
Generate
X
XML
Register and create a user id/password
Select the
Submit return assessment
year
Browse to select XML file and click on "Upload/ Continue
" button
• After successfully file the Xml file with in second they give the PDF Acknowledgement file final copy .and
they give the link to download this copy.
• On successful upload PDF file is lock on password. And this password is common for every on this is
PAN card number and birth date in small caps.
• Unlock the file acknowledgement details would be displayed.
• Click on "Print" to generate printout of acknowledgement/ITR-V Form.
Acknowledgement
After receive the Acknowledgement