Income Tax Returns

Income Tax Return is an important part of Income Tax. It is the way by which an assessee process for paying his tax to Income Tax Department. As per the provisions of Income Tax Act, 1961, filing of Income Tax return is a legal obligation of every Individual whose income exceeds the maximum limit of non-taxable income for the full financial year i.e. from 01 April to March 31 of the following year, for example for the year 2007-2008 (which is also called the Assessment Year) the period is 01 April 2007 to 31 March 2008. In case of salaried class assessee the information about the income in the particular financial year supported with the form 16 (the certificate for tax deducted at source), which is issued by the employer at the end of the financial year.

Transforming itself with the changing times, the Income Tax Department of India has launched an easy to use online facility for filing Income Tax Returns using the Internet. The filing of Income Tax Returns Online offers great convenience, fast in processing and hassle-free option to the assessees. Income Tax Return has several part or phases which we follow for paying tax. To know Income Tax Return in an easy way, it is divided into the following sub sections:

What Is Income Tax Return
"Income Tax Return" is a term which is often used when we talk about income tax.

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Income Tax Return Form
For those who have their own business income and claiming exemption u/s 11 of the I.T. Act, 1961

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Authorized Signatory
Income tax return must be signed by the authorized person. Under section 140 of the Income Tax Act,1961

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Income Tax Return Filing
See the Heads of Income and decide which type of assessee you are

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