We are going to discuss about IT Returns filings.
Every year we have to file our IT returns. When we get PAN number, it's mandatory to file your statement of income even NIL.
You have to visit incometaxefiling.gov.in and create a User ID and password.
Then you can select any available returns for the relevant assessment year.
First, we will discuss about assessment year. Now we are going to file for the financial year 2018-19. Generally financial year means 1st April 2018 to 31st March 2019.
When the financial year completes, we can file our income tax returns. For the purpose of income tax , we call the previous financial year as assessment years after adding one year. I.e. AY2019-20.
Its very simple. Reduce a year will make assessment year to financial year.
There are 8 forms for the purpose of income tax filings. The assessees or tax payers will be classified into 4 parts.
Individual, forms, companies and Trusts. We can file respective forms after finding their category
Warm Regards,
Filings India
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