ITR Filing | AZO

Frequently Asked Questions:

How do I pay tax to the government? - You can pay tax to the government directly on the Income Tax Department website using your netbanking account with challan 280.

Can I file income tax returns for years I missed? - Yes, you can file income tax returns for the years you have missed. However, you can file previous year returns manually after contacting your Assessing Officer. For F.Y 2017-18, you can only e-file the income tax returns up to 31 March 2019. No past years' returns can be e-filed.

My company deducts the TDS. Do I still have to file my tax return? - Yes, deducting TDS and filing a tax return are two different things. In fact, you file a tax return to show that you've paid all the tax you needed to pay. The income tax return is also a very useful document when it comes to applying for a loan or visa.

If I have paid excess tax, how will it be refunded to me? - The excess tax paid can be claimed as refund by filing your Income-tax return. It will be refunded to you by crediting it in your bank account through ECS transfer. Don’t make mistakes in mentioning bank details such as account number,IFSC code etc in the ITR form.

Is it mandatory for me to do the ITR efiling or can someone else do it on my behalf? - You can seek the help of chartered accountants and agencies dedicated to ITR filing. It is wiser not to allow anyone to have your PAN and password in order to prevent any kind of fraud. Also you can always take assistance from CA to file IT returns.

A tax return is documentation filed with a tax authority that reports income, expenses, and other relevant financial information. On tax returns, taxpayers calculate their tax liability, schedule tax payments, or request refunds for the over-payment of taxes.

Who can File Income Tax Returns(ITR) ?

#Individuals who have Salary income can file.

#Individuals having Income from Capital Gains (mutual funds &

stocks), House Property, FD, Interest etc.

#Individuals having Foreign Income (Onsite deputation),

Foreign Assets, NRI.

Benefits of filing Income Tax Returns:

Your Tax Return documents are proof of your financial investments and will be useful when you apply for a loan or a visa.
Avoid a maximum penalty of Rs 10,000, if your total income exceeds Rs 5 lakh.
Taxpayers are often served notices from the IT department for delayed & missed return submissions.
You can claim tax refund; the earlier you file the sooner you will get the refund.
You can carry forward losses against house property and depreciation.

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