Income Tax Return

Income Text Return  is the form in which person’s Income and tax thereon to Income Tax Department is mentioned. Income Tax Return is a proof that you have paid your income tax correctly. It contains details about your annual income and the amount of tax you have paid. Filing ITR will also help you in getting a refund in case you pay more tax than what you are required to pay. There are various ITR Forms like ITR 1, ITR 2, ITR 3, ITR 4, ITR 5, ITR 6 and ITR 7.

Documents Required:

  • Proof of investments and Form 16 (Salary certificate issued by the employer)
  • Form 16A / TDS certificate
  • Challan of tax payment made like advance tax or self assessment tax
  • Proof of investments in propertyD
  • Documents on purchase and sale of investments/assets
  • Collect the TDS certificate and
  • Collect home loan certificate

Income Tax Slab

(2018 – 2019)

Age Below 60 years:-

Income Tax Slab Tax Rate
Up to Rs.2,50,000 NIL
Above Rs.2,50,000 and up to Rs.5,00,000 5%
Above Rs.5,00,000 and up to Rs.10,00,000 20%
Above Rs.10,00,000 30%

Age 60 years and above:-

Income Tax Slab Tax Rate
Up to Rs.3,00,000-NIL
Above Rs.3,00,000 and up to Rs.5,00,000- 5%
Above Rs.5,00,000 and up to Rs.10,00,000- 20%
Above Rs.10,00,000- 30%