Help in filing IT return

ashish

ashish

Adept
I left job last year in Nov. 2013. It was my first job, worked for 8 months and left it.
Now I'm studying to appear for Govt. exams and doesnt plan to work for another two years.

My last salary was 4.1 lacs p.a. and during the tenure the tax etc. was managed by the organization itself.

Now as of today, do I still need to file IT returns even though I'm not earning anything?
If so then do I need to do it online or physically walk to an IT office?
I'm from Pune city.
 
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I think if you have income less than 5 lakhs and that too only from salary, then you need not file IT returns. But if you have income from other sources (like interest for FDs, income from house given on rent, etc.), then you need to file.
 
If your Gross Total Income i.e income from all 5 sources namely Salary, House Property, Business or Profession, Capital Gains and Other Sources doesnot exceed the Basic Exemption Limit for A.Y 2014-15 (for your case), then you need not file the ITR. But its always better to file ITR.

When did you exactly leave the job ? and was there any TDS deducted ? please give further details so that it will be easier to help
 
Yes TDS was deducted for Assessment year 2014-15
Period with the Employer: 01-Apr-2013 31-Mar-2014
Date on which Tax deposited: 05-07-2013
 
dennis_nail said:
I think if you have income less than 5 lakhs and that too only from salary, then you need not file IT returns. But if you have income from other sources (like interest for FDs, income from house given on rent, etc.), then you need to file.
Click to expand...

You have to file even if you claim any exemptions like HRA or 80C.
IMO, Unless you are completely below the lowest tax limits (without claiming any exemptions), its always best to file.

Not filing IT returns can come to bite back when people least expect it. It is especially required for people who have plans to go abroad in future. Couple of colleagues had their US VISA rejected due to non filing of returns few years back.

I have also read about cases where people who were abroad stopped paying taxes and filing returns for their income in India. When they were going back after a visit to India, they were stopped at Dubai Airport and sent back to India. Apparently they were added to tax defaulter watch list (without them knowing about it) and the Dubai security promptly took action though they had no problem at our own airports.
 
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Guys, i need some help. I havent filed my return for year 2014-2015. Now on the it website, i saw this .
Im totally a noob at this. Does this mean can i go for efiling till 30th November? And how long does it take to get the IT Return confirmation from IT Dept once we submit it to them.

  • 29/09/2014
    new.gif

    CBDT extended the “due-date” for furnishing return of income from 30th September, 2014 to 30th November, 2014 for the AY 2014-15, subject to payment of interest u/s 234A ,in case of an assessee:-
    a) who is required to file his return of income by 30th September, 2014 as per Explanation 2(a) to Sec 139(1) of the Income-tax Act, 1961 and
    b) is also required to get his accounts audited under section 44AB of the Act or is a working partner of a firm whose accounts are required to be audited under section 44AB of the Act. [Refer Order u/s 119 dated 26/09/2014]

  • 22/08/2014
    CBDT vide order u/s 119 dated 20/08/2014 has decided to extend the last date for obtaining and furnishing the audit report u/s 44AB for AY 2014-15 in case of assessees who are not required to furnish report u/s 92E from 30th day of September, 2014 to 30th November, 2014. For details, click here
 
:banghead:
Guys all is ok but I'm unemployed since past 10 months now so DO I HAVE TO PAY ANY iTAX?
If yes pelase tell me the steps.
Is it just online or also offline??
 
@srkmish
The IT confirmation takes anywhere from 3 days to a month depending on the time you send in those forms. On the average a week at most.
Are you a salaried or a business/professional class of assessee.
Salaries - Y - Your due date as of now is over
Business/Profession- Y - Covered under 44AB - Compulsorily Audited - Turnover over 1 Crore/25 lakhs - Then extension as posted by you.
Business/Profession- Y - Below above mentioned limits - Then due date is over.

Dont bother on due date. Just file. You need to pay a penalty in the form of interest (234A) which is @ 1% for every month of delay, in some cases additional penalty not exceeding 5k.

@ashish
Did you work during this period - April 2013 to Dec2013/Jan 14?
If so your payscale and any TDS deducted by your company? Did your company give you a Form 16?
IT return filing is both online and offline.
 
Hi guys,

I have income from job as well as some freelance work. I want to fill IT returns for past 2 years. Any pointers where to start. Can I do it on my own ? or should I get a CA?
 
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