Filing a nil return is similar to filing a regular money tax return. Taxpayers are necessary to pay a visit to the official tax Web site and enter the main points of income and deductions. The money tax will probably be computed and shown as a single without having dues.

I did not file my revenue tax returns for the last 3 decades. I've utilized to get a visa now and happen to be requested to furnish my revenue tax return. What do I do?

evidence of Income: ITR serves for a proof of earnings of somebody for a selected monetary yr. it is actually regarded as a sound revenue evidence through the fiscal establishments while making use of to get a financial loan and It is additionally helpful though applying for any foreign nation visa.

For those who have incurred expenditure of the quantity or mixture in the amounts exceeding two lakh rupees for himself or some other individual for vacation to some international region; or

for the people which has a Internet taxable cash flow of Rs five lakh or fewer, the maximum penalty is Rs one,000. even so, When your taxable cash flow is beneath The fundamental exemption limit and you simply file an ITR entirely to claim a refund, you might be exempt from these penalties.

The higher Court is stunned and dismayed being an interfaith couple's marriage was falsely declared to have taken area in the mosque, when it basically transpired in an car-rickshaw.

Is 234F relevant for nil return? No, service fees u/s 234F shall not be relevant within your circumstance Should your earnings is underneath exemption Restrict or nil therefore you are filing the belated money tax return.

sports activities'We have now a cluster of rapid bowlers which have got exposure in white-ball cricket and therefore are not far-off (from take a look at call-up)', says Paras Mhambrey

ITRs serve as authenticated proof of earnings, simplifying the entire process of getting loans and Credit Cards from financial institutions and money establishments.

Filing cash flow tax returns is mandatory for all those whose complete money is greater than The fundamental exemption Restrict. read more We recommend that you choose to file your profits tax return, Though It is far from necessary In the event your overall profits isn’t around The essential exemption Restrict, to benefit from the previously mentioned Added benefits.

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A Nil ITR refers to an income tax return wherever there is absolutely no tax liability to the taxpayer. it truly is an profits tax return (ITR) filed to tell the tax authorities that no taxes were paid during the appropriate money calendar year.

"every single day I wake up aggressively to work and set the target of filing so many cash flow Tax Returns, although the IT Internet site just fails my goal. Time to increase the because of day of filing ITR," Jain, a CA by occupation, said on X.

The income-tax Section permits an assessee to mention The main reason for mismatch in the online portal in solution into a detect sent by them.